By Adriana Pop, Associate Editor
Oxford Development Company is planning the construction of up to 100,000 square feet of speculative flex office space in Findlay Township.
According to the Pittsburgh Post-Gazette, the Allegheny County Airport Authority has approved a 50-year lease for the site of the new development, a 16-acre parcel located at 1600 Industry Drive.
The project, which consists of a single, larger flex office building or two separate buildings, would bring Oxford’s first development in the Parkway West corridor, where demand for office space is high.
Shawn Fox, director of business development for Oxford, told the newspaper that the flex-style floor plan is especially popular in the area’s office market, since it enables tenants to spend less.
Construction on the project is scheduled to begin toward the end of the year and wrap up by next summer.
Under the lease, Oxford will pay $95,000 in the first year, an amount which is slated to increase over the course of the agreement.
In recent years, the airport corridor has seen a remarkable office development activity. Other projects in the area include a $12 million office building currently under construction at McClaren Road. Burns & Scalo Real Estate Services is the developer of the 60,256-square-foot facility, half of which is already committed.
Further, Continental Real Estate Companies and Chaska Property Advisors are developing a four-building office complex near the Cherrington business park. Two of the facilities have been completed and leased; one is currently being built, while construction on the fourth is scheduled to begin this fall.
Meanwhile, in Moon, DiCicco Development Inc. has completed the 130,000-square-foot Westpointe Corporate Center Four, more of half of which will be occupied by Calgon Carbon Corp.
“Our focus in the County has been on creating shovel-ready land to encourage development and growth, and attract new businesses, particularly on county-owned property,” Allegheny County Executive Rich Fitzgerald said in a news release. “We have watched the airport corridor flourish and have seen businesses, both new and established, take advantage of the opportunities in our region. We’re thrilled to see this development by Oxford and look forward to their continued growth.”
Photo credits: www.oxforddevelopment.com