30 Ed Preate Drive

30 Ed Preate Dr, Moosic, PA, 18507-1755, US

Deal room

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Asset description

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.

Attributes

Building area Net

15,342 sm

Year built

1989

Investment highlights

PREFERRED REGIONAL LOCATION/AMENITY RICH EPICENTER

The Property is located in the area’s preferred Class A micro market adjacent to Montage Mountain Road, arguably the submarket’s most amenity rich location including: PNC Field, a 10,000 seat baseball stadium home to the New York Yankee’s AAA affiliate; Montage Mountain Ski Resort; The Pavilion at Montage Maintain - live music outdoor concert venue; and the Shoppes at Montage a premiere area lifestyle shopping center.

PRIME REGIONAL CONNECTIVITY

Immediate access to I-81, the central vehicular corridor for the Scranton/Wilkes-Barre area, offering connectivity to major population centers amounting to approximately 726,000 residents. The Property is located between Wilkes Barre and Scranton, the two largest metropolitan areas in Northeastern Pennsylvania, allowing for unmatched accessibility to the sizable regional work force.

EFFICIENT MODERN CONSTRUCTION IN SUPPLY CONSTRAINED MARKET

Completed in 2000 and constructed for the standards of Prudential, 30 Ed Preate Drive provides a high quality, well maintained Class A office building to a market with a limited inventory of similar product. The Property features attractive construction, modern systems and an impressive amenity base featuring a full cafeteria, fitness center and an attractive window line providing unmatched views of the Appalachian mountains.

ABILITY TO ACCOMMODATE LARGER USERS

30 Ed Preate Drive offers an average floor plate of just under 53,000 SF with generous column spacing perfectly suited to accommodate a large user. Within the Scranton Wilkes Barre Office Market there are only seven other existing office buildings offering floor plates over 50,000 SF.