Covington Logistics Center sale finalized

Robert Tomkavage, The Times-Tribune, Scranton, Pa.
·1 min read

Jun. 12—National developer Portman and Rockpoint, a real estate private equity firm, completed the sale of the 36-acre Covington Logistics Center to Hines, a global real estate firm, a Portman spokeswoman announced Monday.

The sale price was disclosed as $60 million, according to a deed recorded June 2 in Lackawanna County.

The property includes a 501,600-square-foot facility fully leased to All-Ways Pacific LLC, a freight transportation company.

Hines and Portman executed a lease with All-Ways Pacific in February.

The facility features 40-foot clear height ceilings, hydraulic loading bays, and 3,000 amps of available power and provides one-day access to more than 50% of the U.S. population and more than 60% of Canada's population.

— ROBERT TOMKAVAGE