{"id":1004717847,"date":"2024-06-18T02:50:04","date_gmt":"2024-06-18T10:50:04","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004717847"},"modified":"2024-06-18T02:59:26","modified_gmt":"2024-06-18T10:59:26","slug":"gladstone-signs-967-ksf-tenant-at-pennsylvania-warehouse","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/gladstone-signs-967-ksf-tenant-at-pennsylvania-warehouse\/","title":{"rendered":"Gladstone Signs 967 KSF Tenant Near Scranton"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"997\" height=\"747\" data-attachment-id=\"1004669412\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/gladstone-inks-lease-extension-at-detroit-area-facility\/2200-revard-road-monroe-mich\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/2200-Revard-Road-Monroe-Mich-e1687772926928.jpg\" data-orig-size=\"997,747\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;\\u00a9 Yardi Systems, Inc.&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"2200 Revard Road Monroe Mich.\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/2200-Revard-Road-Monroe-Mich-e1687772926928.jpg?w=997\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/2200-Revard-Road-Monroe-Mich-e1687772926928.jpg?w=997\" alt=\"2200 Revard Road\" class=\"wp-image-1004669412\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/2200-Revard-Road-Monroe-Mich-e1687772926928.jpg 997w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/2200-Revard-Road-Monroe-Mich-e1687772926928.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/06\/2200-Revard-Road-Monroe-Mich-e1687772926928.jpg?resize=768,575 768w\" sizes=\"auto, (max-width: 997px) 100vw, 997px\" \/><figcaption class=\"wp-element-caption\">Another one of Gladstone&#8217;s holdings, an industrial building located at 2200 Revard Road in Monroe, Mich. <em>Image courtesy of CommercialEdge<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Hub Group Inc. has signed a full-building, 966,753-square-foot lease in Taylor, Pa., commencing July 1, 2024. Gladstone Commercial owns the industrial property since 2014.<\/p>\n\n\n\n<p>Hub Group is a third-party logistics firm based in Oak Brook, Ill. The company provides transportation and logistics services including intermodal, truckload, less-than-truckload, flatbed, temperature-controlled, dedicated and regional trucking.<\/p>\n\n\n\n<p>The warehouse is a \u201chigh-quality, functional building with sufficient clear heights, loading, and trailer parking to meet the needs of tenants,\u201d Catherine Gerkis, director of investor relations\/ESG at The Gladstone Cos., told <em>Commercial Property Executive<\/em>.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/extra-large-warehouse-leasing-slows-down\/\">Extra-Large Warehouse Leasing Slows Down<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p>As of March 31, Gladstone Commercial&#8217;s real estate portfolio consisted of 132 properties located in 27 states, totaling approximately 16.7 million square feet.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-part-of-the-i-78-i-81-corridor\">Part of the I-78\/I-81 corridor<\/h2>\n\n\n\n<p>Hub Group&#8217;s future home came online in 2002 within Stauffer Industrial Park, according to CommercialEdge information. Kane Properties sold the 51.6-acre lot which included the warehouse to Gladstone for $39 million.<\/p>\n\n\n\n<p>The property previously housed Kane is Able, a regional third-party logistics company which was acquired by ID Logistics in 2022. Its 10-year lease expired in 2024.<\/p>\n\n\n\n<p>The warehouse is at 6 Kane Lane, along the I-78\/I-81 industrial corridor, some 4 miles from downtown Scranton, Pa. Wilkes-Barre Scranton International Airport is roughly 7 miles southwest.<\/p>\n\n\n\n<p>The PA I-78\/I-81 corridor showed signs of returning to prepandemic indicators in the first quarter of this year, according to a <a href=\"https:\/\/www.cbre.com\/insights\/figures\/pa-i-78-i-81-corridor-industrial-figures-report-q1-2024\" target=\"_blank\" rel=\"noreferrer noopener\">CBRE report<\/a>. Leasing activity witnessed a few large deals, but the vacancy rate remained unchanged at 6.4 percent over the quarter.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A 3PL firm leased the entire facility.<\/p>\n","protected":false},"author":3568,"featured_media":1004669412,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21748,13,21742],"tags":[36464],"class_list":["post-1004717847","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-industrial","category-midwest","category-latest","tag-gladstone-commercial-corporation"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Gladstone Signs 967 KSF Tenant Near Scranton - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Hub Group Inc. has signed a full-building, 966,753-square-foot lease in Taylor, Penn. 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