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CXP Completes Sale of Westinghouse’s Pittsburgh-Area HQ
Columbia Property Trust (CXP) completed the $180-million sale of Westinghouse Electric Company’s global headquarters in Cranberry Township, PA, a suburb of Pittsburgh. The buyer, an institutional investor, was not identified.
A JLL Capital Markets team of John Pelusi, Mark Popovich, Mark West, Coler Yoakam and Nick Unkovic represented CXP and procured the buyer. In 2017, CXP secured a 15-year renewal for Westinghouse to continue its triple-net lease for the full 823,979-square-foot complex until 2032.
The REIT completed the Class-A complex at 1000 Westinghouse Dr. in 2009 as a build-to-suit for Westinghouse. The LEED-certified headquarters reportedly is considered the most amenitized office complex in the Pittsburgh MSA, featuring fitness facilities; tennis, basketball and volleyball courts; childcare; a cafeteria; walking trails; 24-hour building security; and a PNC Bank Branch.
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- ◦Sale/Acquisition
