Monday, November 12, 2018

Exeter Property Group Pays $62.8 Million for Sears Distribution Center in Gouldsboro, PA

Exeter Property Group , a local full service investment, management and development firm, purchased a Class A, 1.03 million-square-foot distribution building in Gouldsboro, Pennsylvania, from Indianapolis-based Duke Realty Corporation. Sears Distribution Center sold for $62.8 million, or about $61 per square foot.

The single-story structure at 400 First Ave. comprises a 32-foot clear ceiling height. Built in 2007, the 5-Star building spans north of 76 acres less than 20 miles from Wilkes-Barre/Scranton International Airport.

Since 2006, Exeter Property Group has been entrusted to manage more than $5 billion in equity on behalf of its institutional clients across the globe, according to its website.

Duke Realty (NYSE: DRE), which has more than 149 million square feet of industrial properties in 20 major U.S. markets, originally purchased the building in May 2013.

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