NorthPoint Development Acquires Property At 32 Earth Conservancy Dr With Gerard Blinebury As Seller's Rep

The transaction involves a three-building industrial portfolio located at 32 Earth Conservancy Drive in Wilkes-Barre, along with 7 Alberigi Drive and 15 Alberigi Drive in Jessup. The total square footage of the portfolio is 544,974 square feet. These properties represent significant assets in the industrial market of Northeastern Pennsylvania, which has seen increasing activity.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: Not Disclosed
• Address: 32 Earth Conservancy Dr, Wilkes-Barre
• Seller’s Representative: Gerard Blinebury-Cushman & Wakefield
• Buyer: NorthPoint Development
• Seller: Endurance Real Estate Group, LLC
• Property Portfolio Occupancy Rate: 78 percent
• Buildings: 3 Class A facilities
• Clear Height: 30-foot
• Location Advantages: Easy access to I-81, I-84, I-80, I-380, and the Pennsylvania Turnpike
• Current Vacancy Rate in Region: 3.8 percent

Gerard Blinebury led the team at Cushman & Wakefield that facilitated this transaction, which included Gary Gabriel, Jeffrey L. Williams, and Daniel J. Walsh. The team's efforts included highlighting the value added by Endurance Real Estate Group through renovations and tenancy improvements. The strategic positioning of the portfolio in a densely populated area supports a strong local labor pool, beneficial for potential tenants.