Alco Parking Owner Plans New Office Complex on Pittsburgh’s North Shore; Highwoods Properties, Soffer Organization Unveil Major SouthSide Works Office Project
- Oct 15, 2014
Alco Parking president Merrill Stabile is planning a major office development and parking garage on the land he owns behind PNC Park on Pittsburgh’s North Shore.
According to the Pittsburgh Post-Gazette, plans call for the construction of two, 11-story glass towers offering a total of 600,000 square feet of Class A office space. The buildings (of 250,000 square feet and 350,000 square feet, respectively) would rise atop a new five-story, 1,227-space parking structure. The site of the new development is currently used for parking, with enough spaces for a maximum of 400 vehicles.
Kim Clackson, senior vice president of CBRE, is marketing the project, which would only be built with a signed anchor tenant. This should not be a problem, according to Stabile.
“We think the market is right. I think over the next two to three years there are enough potential users that one of them would be interested in a site with such a high profile and so many amenities,” he told the newspaper.
In other news, the Pittsburgh Post-Gazette reports that Raleigh, N.C.-based Highwoods Properties has partnered with the Soffer Organization for the development of four office buildings within the 34-acre SouthSide Works complex in Pittsburgh. The entire project would bring a total of 400,000 square feet of office and retail space.
Construction on the first building, a 158,000-square-foot glass office structure on the Monongahela riverfront, next to Hofbrauhaus restaurant, is expected to begin as soon as an anchor tenant is secured for at least a portion of its space. Upon completion, the six-story facility will offer 30,000-square-foot floor plates, terraces, an 8,000-square-foot restaurant, locker rooms, bike storage, a 72-space parking garage, as well as direct access to the waterfront park, trails and marina.
The rest of the project will be built upon demand.
In downtown Pittsburgh, Highwoods Properties also owns the iconic PPG Place and EQT Plaza.
“We’re looking to expand our footprint here in Pittsburgh. We’re excited about Pittsburgh. We’re a developer by background, so this gives us an opportunity to develop what we see as very high-quality office space,” Andy Wisniewski, Highwoods vice president in Pittsburgh, told the newspaper.
Photo credits: (1) Artist’s rendering of the North Shore Office Complex by Merrill Stabile in Pittsburgh; (2) Highwoods Properties via www.post-gazette.com
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