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M id A tlantic Real Estate Journal — Pennsylvania — Section C
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Office complex in Cranberry Township, Pennsylvania sells for $180 million Columbia Property Trust completes sale of Westinghouse Campus in suburban Pittsburgh C RANBERRY TOWN- SHIP, PA — Colum- bia Property Trust,
Philadelphia, PA — The Blau & Berg Com- pany recently brokered the sale of a portfolio of land in Philadelphia, PA from Ameri- can Equity Partners, LLC to Ivy Equities II, LLC. Jason Crimmins, CCIM, SIOR, Peter Murano, SIOR, Ales- sandro Conte, CCIM, SIOR and Michael Schipper of The Blau & Berg Company represented the seller, while Scott Savastano of The Blau & Berg Company represented the buyer in this transaction. The 118,509 s/f on 17.61 acres consisted of a 63,200 s/f facility with 60 docks, 11,350 s/f refrigerated terminal with 20 docks, a 15,000 s/f terminal with 41 docks, and a 20,000 s/f terminal which includes a 5,000 s/f garage facility. Over 113 docks and 10 drive-ins in total. The tenants include: Fresh Direct (a grocery deliv- ery service), Amazon (an on- line fulfillment center), H&M (a 3PL logistics company), Romad (an ambulance service licensed by both the Pennsyl- vania and NJ Department of Health), and Galusso (a 3PL Buildings are steel framed structures with concrete slab- on-deck floors with a combi- nation of aluminum curtain- wall, aluminum windows, insulated metal wall panels, brick, and polished concrete block exterior. Roof system is a Thermoplastic membrane system. Building One is 460,000 s/f, which includes full basement, five occupied floors and me- chanical penthouse. Building One consists of office space, conference rooms, cafeteria, kitchen, loading dock, fitness center and data center. Buildings Two and Three are 230,000 s/f each, and consist of full basement and four occupied floors, which is primarily office space and a daycare for Westinghouse employees is part of Building Two.
The Pipeline presents 2020 Mentoring Program HI-LIGHTS February 14 - 27, 2020 Columbia previously se- cured a 15-year renewal with Westinghouse Corporation to continue its lease for the full 824,000 s/f complex as its world headquarters. The three building cam- pus is located on 83 acres. Inc. announced that it has completed the sale of certain of its subsidiaries which own an office property in Cran- berry Twp., PA, outside of Pittsburgh, for a gross sales price of $180 million.
Westinghouse Campus
The Blau &Berg Company arranges sale of American Equity Partners’ Phila. portfolio
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Contributing Columnist
David S. Coyne
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Upcoming Spotlight Commercial Office Properties contact: Joe Christman jchristman@marejournal.com ALSO INside People on the Move............16C
Philadelphia portfolio
logistics service). “These ‘last mile’ terminals are positioned at the entrance of the Betsy Ross Bridge lead- ing to I-4 of the NJ Turnpike. This was a unique opportunity to acquire institutional quality
terminals, which are in high demand in the highly sought after New York and Philadel- phia Metropolitan Market,” said Jason Crimmins, presi- dent of The Blau & Berg Com- pany. Scott Savastano, direc-
tor of Capital Markets for The Blau & Berg Company also said, “It was a such pleasure working with a professional investment group like Ivy which made this transaction seem effortless.”
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