HFF Facilitates Sale of Pennsylvania Office Park

A new owner has emerged for an approximately 212,000-square-foot office complex in the Pittsburgh area.

HFFhas announced the sale of Park Place Corporate Center I and II, two Class A office buildings totaling 212,328 square feet located in suburban Pittsburgh.

Park Place Corporate Center I

Park Place Corporate Center I

USAA Real Estate sold the property to an affiliate of Pearson Partners for an undisclosed amount.

The HFF investment sales team representing the seller was led by senior managing director Mark Popovich. The brokerage firm also procured the buyer.

The buildings are located at 1000 and 2000 Commerce Drive along the Parkway West (I-376), about 10 miles from Pittsburgh’s central business district and five miles from the Pittsburgh International Airport. Both facilities are LEED Gold certified and were fully renovated in 2012, when two, 300-space parking garages were added.

Park Place Corporate Center is currently 95 percent leased to six tenants—Park Place II is completely occupied by Williams Field Services Group LLC, while Park Place I is a multi-tenant building.

Image via HFF