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1 Commerce RdPittston, PA 18640
1 Commerce Road
Asset ClassIndustrial
Square Feet423,061
I-81/78 Corridor • Basis Below Replacement Costs • Value-Add
overview of deal

Overview

This 423,061 square foot institutional quality industrial building is 100% vacant with an opportunity to add value through lease up at a fair market rate. The property, which sits on the outskirts of the CenterPoint Commerce and Trade Park, features 27’–34’ clear heights in Unit A and 48’-54’ in Unit B, 28 loading docks, two drive-in doors, +/- 370 car parks and capability to add rail service. The building is located just north of the confluence of I-81 and I-476/PA Turnpike in Pittston, PA, providing access to Philadelphia, New York City, Baltimore, Boston, Pittsburgh and Washington DC within a five-hour drive. Notable tenants in the market include FedEx, T.J. Maxx, UPS, Lowe’s, Home Depot, Amazon and Neiman Marcus. 1 Commerce Road provides a unique opportunity for a buyer to add value through a lease up of the currently vacant building in a highly coveted Northeastern Pennsylvania location.

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Investment Highlights

Compelling Market

  • 17.1 MSF of leases signed along the I-81/78 Corridor in 2024
  • Asking rents increased 7.75% YOY along the I-81/78 Corridor
  • Luzerne County occupancy rate remains strong at 96.1%

Value - Add Industrial Product

  • Features 27’–34’ clear heights in Unit A and 48’-54’ in Unit B
  • Rail service capability
  • Building already demised into two units for ideal lease up scenario

Ideal NEPA Location

  • Two miles from I-81, four miles from I-476, and 10 miles from I-84
  • Within a five-hour drive of Baltimore, Boston, New York City, Philadelphia, Pittsburgh and Washington DC
  • Five of the top 25 US MSA’s within a 1-day truck drive
  • Adjacent to NEPA’s FedEx Ground Hub
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1 Commerce RdPittston, PA 18640

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Listing provided by Revere CRE