Monday, October 12, 2015

HFF closes sale of Pittsburgh-area Class A office complex

Park Place Corporate Center I and II, 1000 and 2000 Commerce Drive,
 Pittsburgh, PA

Mark Popovich
PITTSBURGH, PA – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Park Place Corporate Center I and II, two Class A office buildings totaling 212,328 square feet in suburban Pittsburgh, Pennsylvania.   

HFF represented the seller, USAA Real Estate, in the transaction and procured the buyer, an affiliate of Pearson Partners.  The property was sold for an undisclosed amount. 

Park Place I and II is located at 1000 and 2000 Commerce Drive along the Parkway West (Interstate 376), about 10 miles from Pittsburgh’s central business district and five miles from the Pittsburgh International Airport.

 The LEED Gold certified properties were fully renovated in 2012 at which time two, 300-space parking garages were also constructed.  

Overall, Park Place Corporate Center is 95 percent leased to six tenants.  Park Place II is home to Williams Field Services Group, LLC, who occupies the entire building, and Park Place I is a multi-tenant building.  

The HFF investment sales team representing the seller was led by senior managing director Mark Popovich.

 For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

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