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Jun. 5, 2013

Historic Koppers Building in Downtown Pittsburgh for Sale

By Adriana Pop, Associate Editor

The Koppers Building, one of the finest Art Deco office towers in the Pittsburgh region, has been listed for sale.

According to the Pittsburgh Business Times, Gerry Dudley and Ryan Sciullo of the local office of CBRE are marketing the building, which offers more than 350,000 square feet of space.

Located at the corner of Grant Street and Seventh Avenue in the heart of the city’s downtown, the 34-story skyscraper has an occupancy rate of 69.4 percent. The building is anchored by construction materials company Koppers Inc., which has a long-term lease for the space. Other tenants include the Allegheny County Bar Association, Howard Hanna Commercial Real Estate Services, Bank of America, as well as law firm Horovitz, Rudoy & Rateman LLC.

Built in 1929 and designed by Chicago architecture firm Graham, Anderson, Probst and White, the high-rise is currently owned by Koppers Building Holdings Inc. of Radnor, PA. The company purchased the tower in 1997 for $13.2 million.

In other news, developer a.m. Rodriguez Associates is repurposing the former Prospect Middle School in Mount Washington into 67 market rate apartments. The company has partnered with Sota Construction Services to renovate the historic “Art Deco” property.

The Pittsburgh Post-Gazette reports that the developer has recently purchased the building from The Mount Washington Community Development Corporation.

Called The Lofts on Mount Washington, the approximately $14 million project will offer residential units in 16 styles, ranging in size from 800 to 2,000 square feet. Plans also call for a grand auditorium entrance, an 11,000 square foot fitness facility in one of the gyms, a theater that can be rented for productions, a rooftop deck, as well as a large landscaped courtyard. Construction is expected to be complete by May 2014.

Photo credits: Wikimedia Commons