Oxford Expands Marketing for New Office High-Rise in Downtown Pittsburgh

Oxford Development has appointed Colliers International to assist its own leasing team in recruiting tenants for its proposed 350 Fifth Ave. office tower in downtown Pittsburgh.
350 Fifth Avenue in Pittsburgh

350 Fifth Avenue in Pittsburgh

Oxford Development appointed Colliers International to assist its own leasing team in recruiting tenants for its proposed 350 Fifth Ave. office tower in downtown Pittsburgh.

According to the Pittsburgh Business Times, the upcoming 29-story class A building will rise at the site of a former department store the developer owns at the corner of Smithfield Street and Fifth Avenue.

Oxford’s marketing team, led by Mike Daniels, an executive vice president of office leasing, is currently working with potential clients in the Pittsburgh market. Meanwhile, Colliers will focus on finding tenants from Northern California, Austin, Boston, New York and Washington, D.C. The two firms have a good professional relationship, especially since two of the founding principals of Colliers in Pittsburgh, Paul Horan and Pat Sentner, formerly worked for Oxford.

“Obviously, Oxford is an incredible organization in many ways but the one thing they didn’t have on the brokerage side is the global platform,” Gregg Broujos, managing director and founding principal of the local office of Colliers, said. “Pittsburgh has so much momentum on so many fronts of the economy that there are firms from outside the city looking all the time. And we think there’s good chance we can help locate some tenants.”

Oxford aims to achieve a LEED Silver rating for the new tower, which has been designed for two signature tenants.

The floor utilization rate for the office space will be nearly 92 percent higher than the average of 76 to 80 percent in other Class A buildings in the Pittsburgh market.

Photo credits: www.350fifthpittsburgh.com