20170119 084056

Scranton firm buys former Giant supermarket warehouse

A Scranton firm has purchased the former local Giant Markets warehouse from its Allentown owners.

Wyoming Avenue Development LLC bought the property at 501 S. Washington Ave. now occupied by Banko North, a division of Banko Beverage in Allentown.

Built in 1967 and expanded in 1969 and again in 1974, the building includes 160,000 square feet of warehouse and 13,000 square feet of office space on 7.3 acres, according to Hinerfeld Commercial Real Estate, which represented the buyer.

The locally owned Giant Markets built the warehouse and used it into the 1990s. The new owner has not disclosed its plans for the building,  said.

Public documents show Wyoming Avenue Development is headquartered at 205 N. Main Ave., Scranton, the same address as developer Ferrario Real Estate. Company owners Gerard and Joseph Ferrario’s signatures appear in several public documents on behalf of Wyoming Avenue Development. A message left with a receptionist at the Ferrario real estate office was not returned Thursday.

A receptionist at Banko North said the company would not comment on plans following the sale.

The warehouse’s purchase price was kept confidential. Banko bought the building in 2007 for $2.5 million.

Contact the writer:

joconnell@timesshamrock.com, @jon_oc on Twitter

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