PITTSBURGH, October 12, 2016 –M & J Wilkow, Ltd. is pleased to announce the acquisition of APEX 275 Southpointe, a two-story office building located at 275 Technology Drive in Western Pennsylvania’s premier business park, Southpointe. In suburban Pittsburgh, APEX 275 Southpointe is the only fully vacant Class A building with more than 100,000 square feet—the largest block of space available. Future enterprise tenants will have the ability to completely control access, security, branding, HVAC, parking, and more. JLL has been selected as the exclusive leasing agent at the site.
Having previously served as the corporate headquarters for Ansys, Inc., the Class A building is suited well for large tenants seeking visibility from I-79 and the business park’s other inhabitants. The building features two stories of office space connected by its main lobby and corridor, as well as abundant tenant parking. The new owner is planning a multimillion-dollar renovation, which will include an outdoor patio and amenity space, among other additions.
JLL Vice President Jeffrey Adams will represent the new ownership for all leasing activity.
“Because this is the largest vacant space in this business park, we’re anticipating significant interest from prospective tenants,” said Adams. “Aside from high class available space, APEX 275 also includes an adjacent 3.5 acre development site that could potentially accommodate larger tenants (up to 160,000 square feet) or tenants with an above standard parking requirement. Plus, prospective tenants will have the opportunity to expand the footprint of the building by 50,000 square feet to accommodate growth.”
The acquisition marks the sixth purchase for M & J Wilkow in the Pittsburgh area. Previous purchases include the mixed use development The Waterfront in Homestead, Penn Center East, 20 Stanwix Street, 420 Boulevard of the Allies and the Federal Reserve Bank building.
“After tracking APEX 275 for two years, the pricing finally made sense,” said M & J Wilkow Vice President Martin Sweeney. “We have a great track record of redeveloping 100% vacant suburban office buildings around the country. To bring that expertise to a preferred market of ours [Pittsburgh] in a dynamic business park like Southpointe is very exciting to us.”