JLL selected by The AM Group to lease 51 Bridge Street
JLL selected by The AM Group to lease 51 Bridge Street tech-flex project
PITTSBURGH, Sept. 28, 2020 – JLL is pleased to announce The AM Group’s acquisition and commencement of a major redevelopment in Etna: 51 Bridge Street. This Class A tech-flex project presents a generational opportunity to positively impact a community and its residents through the resurrection of a building to a best-in-class facility that will attract globally leading tenants. JLL Senior Vice President Jeff Adams will lead leasing efforts on behalf of The AM Group.
Set to deliver the base building improvements in the fall of 2021, 51 Bridge Street will provide tenants with flexible layouts that adhere to modern concepts and promote health and wellness. Amenities such as private entrances and having a large footprint under 2/3 stories in building height will make elevator travel more efficient and stairwell access viable, which will help to address social distancing concerns in a post-pandemic world. Following renovations, the building will total approximately 100,000 square feet of tech-flex space spanning three floors.
The redevelopment of 51 Bridge Street marks The AM Group’s third project in the Pittsburgh metro area.
“The building's existing, 1902-vintage design offers a tremendous canvas for the creation of a highly functional, tech-flex product using an environmentally responsible adaptive re-use approach," said AM Group Partner Scott Wolkowitz. "We are also excited to partner with the Borough of Etna and its people in our common goal to enhance this thriving community."
Additional design concepts throughout the building will pay homage to the area’s rich history of past innovators of industry, as the space transforms and provides inspiration for the future innovators. Also unique to the building is an overhead crane, as well as several loading docks and drive-in door entrances.
“As a native of Etna and long-time employee of the Borough, I am thrilled to see the transformation of this long underutilized structure and proud of Etna’s officials who have played a role in this transformation,” said Borough of Etna Manager Mary Ellen Ramage.
The AM Group has received early-stage financing from The ERECT Funds, whose investors include local union building trades’ pension funds, Allegheny County and the Commonwealth of Pennsylvania. The ERECT Funds are managed by PenTrust Real Estate Advisory Services, Inc. and AmeriServ Trust and Financial Services Company (trustee).
For more information, visit www.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 over 92,000 as of September 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.