PCCP, EQT Trade Pennsylvania Warehouse for $142M

February 12, 2026

This deal marks the biggest sale in the Harrisburg market since 2024.

PCCP has acquired a 1.2 million-square-foot distribution center in Newville, Pa., for $141.6 million. EQT sold the asset, according to Yardi Matrix. JLL Capital Markets represented the seller and also arranged an $82 million acquisition loan issued by QuadReal Property Group for the buyer.

Newell Brands, a Fortune 500 company, fully leased the big-box warehouse on a long-term basis. The tenant operates a portfolio of more than 50 brands, active within fields such as learning and development, home and commercial, as well as outdoor and recreation segments.

The property, which debuted in 2020, has 36-foot clear heights, 120 dock doors and a truck court depth of 200 feet, as well as parking spaces for 265 cars and 437 trailers.

Located on more than 93 acres at 3419 Ritner Highway, the distribution center is about 34 miles southwest of downtown Harrisburg, Pa. Interstate 81 runs within 2 miles of the property, while Interstate 76 can be found approximately 5 miles away. The warehouse’s proximity to these thoroughfares is among the factors that influenced the high premium commanded by the asset, according to the brokers.

JLL Capital Markets Senior Managing Director John Plower and Senior Director Ryan Cottone led the team that negotiated the sale on behalf of EQT and arranged the financing for PCCP.

PCCP has raised, invested or managed $46.6 billion as of September 2025, according to its website. It also had $29.2 billion in assets under management. Outside of investments, the firm also provides debt financing.

In fact, this isn’t PCCP’s first capital deployment in the Harrisburg area. Just last year, it provided a $142.4 million loan for CBRE Investment Management’s 1.3 million-square-foot park in Middletown, Pa. That loan was part of a larger $245.8 million financing package.

Industrial deal volume in Harrisburg suffers a steep drop

Investors traded $474 million in industrial assets across metro Harrisburg in 2025, down 52.9 percent compared to 2024’s volume of more than $1 billion, according to Yardi Matrix. This decline represented the steepest annual drop in more than a decade but was in line with national trends.

PCCP’s latest acquisition marks the largest sale in the market since late 2024. That year, the other party to PCCP’s recent deal broke all records spanning more than 10 years. EQT paid $170.5 million for a 1.2 million-square-foot warehouse sold by Core5 Industrial Partners in Middletown.