$77.5 Million Non-Performing Office Loan
US - Washington, DC
CHF 70,792,000 | 28,508 m²
Jones Lang LaSalle Americas, Inc (“JLL”), has been retained on an exclusive basis to arrange the sale of 30 Ed Preate Drive, a Class A Office Building located in Moosic, PA (the “Property”). 30 Ed Preate Drive was purpose-built to Prudential’s corporate standard and was completed in 1994. The Property presents an opportunity for a potential buyer to acquire a value-add deal and lease up the remaining space to take advantage of the very limited supply of Class A office space.
The Property is located between Scranton and Wilkes-Barre Pennsylvania, Northeastern Pennsylvania’s largest population centers and benefits from immediate access to Interstate 81, the central vehicular transit artery for the region, allowing for unmatched connectivity to the areas sizable labor force. Additionally, the Property is located within the area’s entertainment epicenter of Montage Mountain, offering a unique neighboring amenity assortment which exceeds any other location within the region. Montage Mountain is a regional destination situated around a 140-acre ski resort featuring an ample lineup of retail, dining entertainment and lodging options as well as a 10,000 person capacity baseball stadium which is home to the AAA affiliate of the New York Yankees.
PREFERRED REGIONAL LOCATION/AMENITY RICH EPICENTER
PRIME REGIONAL CONNECTIVITY
EFFICIENT MODERN CONSTRUCTION IN SUPPLY CONSTRAINED MARKET
ABILITY TO ACCOMMODATE LARGER USERS