20 Stanwix secures Dollar Bank as anchor tenant
DRA Advisors, M & J Wilkow and JLL secure 76,000-square-foot headquarters lease
PITTSBURGH, Sept. 1, 2020 — JLL is pleased to announce that a fund managed by DRA Advisors and M & J Wilkow Ltd have secured an anchor tenant for its Class A, 20-story office building downtown. Dollar Bank has signed a 76,000-square-foot, 16-year lease to relocate its corporate headquarters from Gateway Center to 20 Stanwix.
Dollar Bank will occupy the building’s four topmost floors, as well as a ground-floor reception suite located off of the building lobby. The long-standing Pittsburgh bank will take occupancy in the first quarter of 2021 and plans to take advantage of exterior signage. JLL Managing Director Jason Stewart led leasing efforts for the building.
“We’re thrilled for Dollar Bank’s move to 20 Stanwix,” said Dean Sickles, DRA Advisors’ Head of East Coast Operations. “Sitting on the Monongahela River, the company and its employees now have direct access to the region’s highway system, a four-minute walk to everything, and skyline signage for prominent visibility.”
“Completing our redevelopment and repositioning of 20 Stanwix with an incredible organization like Dollar Bank is exactly what we envisioned. Dollar recognized and appreciated the strategic improvements we made over the last two years and we look forward to having them as a valued customer for many years to come,” said Marty Sweeney from M&J Wilkow.
In addition to its prime location downtown, 20 Stanwix now offers tenants an exclusive amenity program. A full-service fitness center, state-of-the-art conference facility, and indoor and outdoor tenant lounges have been recently added by ownership in addition to an elevator modernization and upgrade to the building’s mechanical systems. The building also features an integral garage with over 150 parking spaces.
“The diversity of tenants speaks to the building’s appeal,” added Stewart. “20 Stanwix sits in a high-traffic area with exceptional accessibility for both residents nearby and commuters. And with its exceptional views of downtown, Station Square and the gorgeous rivers of Pittsburgh, the new headquarters is sure to make an impression on employees and visitors alike.”
For more information on the property and leasing opportunities, contact Jason Stewart or visit jll.com/Pittsburgh.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion in 2019, operations in over 80 countries and a global workforce of nearly 93,000 as of June 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About DRA Advisors
DRA Advisors LLC is a New York-based registered investment advisor specializing in real estate investment management services for institutional and private investors, including pension funds, university endowments, sovereign wealth funds, foundations, and insurance companies. Since DRA was founded in 1986, the firm has acquired over $33 billion of real estate, including 79 million square feet of industrial, 59 million square feet of office, 82 million square feet of retail and 74,000 multifamily units. As of March 31, 2020, DRA has $11.6 billion in gross assets under management. For more information, visit: www.draadvisors.com
About M & J Wilkow
M & J Wilkow is a leading commercial real estate owner and operator dedicated to creating value for its clients and investors. The Company’s approach to real estate emerged distinctively from an owner's perspective and has evolved over 80 years in the real estate business. M & J Wilkow’s portfolio consists of 53 properties, which includes 22 office buildings and 31 retail properties consisting of approximately 12.6 million square feet. The aggregate market value of the portfolio is estimated to be in excess of $2.8 billion. For more information, visit www.wilkow.com.