EQT Adds 1 MSF Pennsylvania Asset

December 11, 2025

Amazon fully occupies the logistics center.

Aerial view of Scranton North Logistics Center — Scranton North Logistics Center came online on a speculative basis in 2023. *Image courtesy of EQT*

EQT Real Estate has expanded its Pennsylvania industrial holdings with the acquisition of Scranton North Logistics Center, a 1 million-square-foot logistics facility in Olyphant, Pa., through the EQT Real Estate Industrial Core-Plus Fund IV. The 2023-completed property is fully leased to Amazon. JLL represented the seller.

The joint venture of Endurance Real Estate and Boston-based Cabot Properties built the property on speculation at 1300 Corporate Way. The developers announced the completion and full lease-up of the distribution center in December 2023. At the time, it was the largest lease signed in Endurance’s history.

Amazon confirmed in June 2024 that it was opening a facility at Scranton North’s address later in the year, according to The Times-Tribune. The property serves as an inbound cross-dock node for inventory distribution to regional fulfillment centers, according to EQT.

Scranton North Logistics Center, up close

The distribution center has 40-foot clear heights, a 600-foot building depth, 185-foot truck court, 233 trailer stalls, 437 car spaces, 163 dock-high doors with four additional drive-in doors. Designed for cross-dock operations, the facility includes a minimal office build-out and full truck circulation.

The property is approximately 1 mile from U.S. Route 6 and 5 miles from the confluence of interstates 81 and 84, a supply-constrained area with less than 4 percent vacancy, according to EQT. The location also provides access to major East Coast markets, regional seaports and multiple air, rail and highway systems.

The JLL team included Senior Managing Director John Plower, Senior Director Ryan Cottone and Associates Zach Maguire. Other JLL team members included Vice Chairman Jeff Lockard, Executive Vice President Maria Ratzlaff and Vice President Kevin Lammers as well as Senior Managing Directors Chad Orcutt and Ryan Ade.

Active year for EQT

The acquisition of Scranton North Logistics Center is the most recent purchase made by EQT. The firm has been on a buying spree this year following rebranding of its real estate platform to EQT Real Estate earlier in 2025. At that time, EQT also shut down its U.S. multifamily fund division and stopped making investments in office and life science assets to focus primarily on industrial properties.

In late October, EQT Real Estate Logistics Value Fund VI and EQT Real Estate Core-Plus Fund IV acquired an 11-building, 4.8 million-square-foot logistics portfolio across five major U.S. markets. Hillwood previously owned the assets, according to Yardi Matrix information.

Also in October, EQT Real Estate acquired an 11-property industrial portfolio in New Jersey totaling about 894,000 square feet. Plower and Cottone were instrumental in that transaction as well.

More recently, EQT sold a 25-property, 8.7 million-square-foot logistics portfolio located in major distribution hubs in the largest U.S. industrial transaction to date this year. Artemis Real Estate Partners bought the collection spread across the Atlanta, Chicago, New York, Phoenix and Texas markets.