Wilmington and Washington D.C.-based developer The Buccini/Pollin Group, Inc. announced the acquisition of its first building in Pittsburgh, PA, the Peoples Center.
The property includes 272,019 square feet of office space and 31,025 square feet of retail.
Terms were not announced.
The s building features brick walkways, fountains, a covered courtyard and boardwalk access. Sitting on the North Shore of the Allegheny River, Peoples Center is within walking distance of Heinz Field (Steelers) and PNC Park (Pirates), which together boast more than 3.6 million annual visitors.
Built in 2005 as the headquarters for Del Monte Foods, the current anchor tenant is Peoples Natural Gas.
The property has a riverfront location and is situated just off the Parkways (I-279/I376), linking the North Shore with downtown, the airport and the remainder of the interstate system as well as major highways. It also offers access to the local transit line.
Chris Buccini, co-president of The Buccini/Pollin Group, stated: “As one of the largest office landlords in the Philadelphia MSA with over 5 million square feet of space under ownership and management, BPG is well-positioned to grow into a nearby market. We are proud to start this growth with a superbly located, Class A urban office building featuring an excellent tenant roster.”
