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| One Oxford Centre, Downtown Pittsburgh, PA |
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| John H. Pelusi Jr. |
PITTSBURGH, PA –– Holliday Fenoglio Fowler, L.P. (HFF)
announced it has closed the sale of and arranged acquisition financing for One
Oxford Centre, a one million-square-foot, Class A, trophy office tower in
downtown Pittsburgh, Pennsylvania.
HFF marketed the property
on behalf of the seller, Oxford Development Company. Shorenstein Properties LLC (Shorenstein)
purchased the asset. Additionally, HFF
worked on behalf of the new owner to place the acquisition loan with Helaba and
CIBC.
Located at 301 Grant
Street, the 45-story One Oxford Centre was developed by the seller and consists
of 884,403 square feet of office space; a five-level atrium with 58,278 square
feet of restaurants, shops and commercial office space; the Rivers Club, a
fitness, dining and social club and a separate, eight-story parking garage with
840 parking spaces.
Sixty-six percent of
tenants have headquarters in One Oxford Centre, including Buchanan Ingersoll
& Rooney; TriState Capital Holdings, Inc., BPU Investment Management and
HFF.
The HFF investment sales
team was led by executive managing director John H. Pelusi, Jr. and senior managing director Mark Popovich. The HFF debt placement team also was led by
Pelusi and Popovich along with executive managing director Mike Tepedino.
“HFF has been involved
with the capitalization of One Oxford Centre since its construction in 1983,”
Pelusi said. “It is only fitting that
Shorenstein, a nationally renowned and prolific office owner with 25 million
square feet under ownership, is acquiring this landmark, Class A office
building, which was the vision of Ed Lewis of Oxford Development Company.”
For a complete copy of the company’s news
release, please contact:
Kristen M. Murphy
Director
HFF | One Post Office
Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 |
Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com
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