Investor purchases Westinghouse Electric Company’s HQ in Pittsburgh
JLL completes sale on behalf of Columbia Property Trust
PITTSBURGH, January 17, 2020 – JLL Capital Markets announced today that it has closed the sale of certain subsidiaries of Columbia Property Trust that own the Westinghouse Electric Company Headquarters, an 823,979-square-foot Class A corporate headquarters building in the Pittsburgh-area community of Cranberry Township, Pennsylvania.
Completed in 2009, the Class A trophy office complex is 100% triple net leased to Westinghouse Electric Company as its International Mission Critical Nuclear Corporate Facility housing its global corporate headquarters and executive offices, research and development, and support functions. The LEED-certified property is considered the most amenitized office complex in the Pittsburgh MSA featuring fitness facilities; tennis, basketball and volleyball courts; childcare; a cafeteria; walking trails; 24-hour building security and a PNC Bank Branch.
The Westinghouse HQ is located at 1000 Westinghouse Drive, approximately 20 miles north of Pittsburgh in Cranberry Township, one of the fastest-growing submarkets of the Pittsburgh MSA. This location offers a robust amenity base of retail, restaurants and hotels and has convenient access to Interstates 76 and 79 providing connectivity to the entire Pittsburgh region.
The JLL Capital Markets team representing the seller was led by Executive Managing Director John Pelusi and Senior Managing Directors Mark Popovich, Mark West and Coler Yoakam and Associate Nick Unkovic.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of more than 93,000 as of September 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.