Logistics Property Co. Closes 750,000-square-foot Lease on Industrial Spec Facility

The rapidly growing logistics real estate platform is focused on the acquisition, development and management of modern logistics properties in key North American markets

CHICAGO--(BUSINESS WIRE)--Logistics Property Company, LLC (LPC) has fully leased I-80-380 Logistics Center (I-80-380), Mount Pocono, Pa.—a speculative modern Class A distribution facility totaling approximately 750,000 square feet—four months prior to completion.

Located 90 miles northwest of Manhattan, the 62.5-acre site is within one day’s drive to 40 percent of the U.S. population and 50 percent of the Canadian population.

“I’m very proud of our team and their responsiveness to land a great tenant,” said Mark Glagola, Senior Vice President and Market Leader – Northeast Region.

I-80-380 boasts remarkable access to skilled labor. It also provides easier access to New York City versus competing submarkets Lehigh Valley and Harrisburg.

“It was a pleasure working with the LPC team on this successful and exciting project that illustrates the strength and vitality of the Northeastern PA industrial submarket,” said Daniel Walsh of Cushman & Wakefield.

Mike Barker of CBRE represented the tenant on the deal.

About Logistics Property Co.

Logistics Property Company, LLC (LPC) is an industrial real estate company focused on the acquisition, development and management of modern logistics properties in key North American markets. The management team of LPC partnered with MIRA Real Estate – part of Macquarie Infrastructure and Real Assets (MIRA) – on the formation of the platform. LPC is developing properties in key logistics markets including Atlanta, Chicago, Dallas, Houston, Kenosha, Mount Pocono and Seattle-Tacoma with an estimated end value of $2 billion. Headquartered in Chicago, LPC has offices in Atlanta, Dallas, Houston, Indianapolis, Los Angeles and Seattle. For further information, please visit logisticspropco.com and follow @logisticspropco.