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PITTSTON, PA-Kane Warehousing, an affiliate of Scranton-based Kane is Able Inc., has signed a lease for 230,000 sf in the 289,000-sf industrial facility in Pittston Distribution Center, taking occupancy to 100%. The owner is Denver-based ProLogis.
The building was completed in 1991, according to Paul Loosmann, senior vice president and Pennsylvania market officer, located in ProLogis' Harrisburg office. Kane replaces space that was earlier occupied by Maytag, which exited following a corporate consolidation, Loosmann says. Rosemont, IL-based EGS Electrical Group occupies the remaining 59,000 sf.
Loosmann tells GlobeSt.com that Kane, a third-party logistics supplier, is becoming a national player and has leased space in ProLogis properties elsewhere. He declined to disclose the rent rate in this building. However, an average rate among older and new industrial facilities in this area is $4 per sf, according to other recent leasing activity. "There has been positive absorption in the market and a rise in rental rates," Loosmann says.
The Pittston Center is midway between Wilkes-Barre and Scranton near the Northeast extension of the Pennsylvania Turnpike. Kane selected this location "because of its close proximity to our headquarters and the access it offers to the entire Northeast corridor," says Harry Drajpuch, COO of Kane, in a statement. Bill Wolf of the area office of CB Richard Ellis represented.
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