51 Bridge St - R&D FOR SALE


Pittsburgh, PA 15223- Etna-Sharpsburg
$28,400,000 USD
646-850-9837
51 Bridge St, Pittsburgh, PA for Sale
$28,400,000 USD
R&D - FOR SALE
1/9
null | 6.75% Cap Rate

51 Bridge St
Pittsburgh, PA 15223
Etna-Sharpsburg


HIGHLIGHTS

  • 100% Leased to Westinghouse Electric Company on a NNN Lease through December 2034
  • Investment Grade Parent Companies-Brookfield Renewable (S&P:BBB+) and Cameco (S&P:BBB-)
  • Awarded the 2023 Best Tech Flex Project from NAIOP Pittsburgh
  • $18 Million Tenant Investment
  • Mission Critical Location for Westinghouse’s eVinci Microreactor
  • Effectively a New Building with Limited Future Capital Requirements

OVERVIEW

On behalf of Ownership, HMX Realty Advisors is pleased to present the opportunity to acquire 51 Bridge Street (the “Property”), a 87,420 square foot tech flex building that is fully leased to Westinghouse Electric Company for the next 10 years. Situated just 6 miles northeast of Downtown Pittsburgh, the Property will serve as a mission-critical facility for Westinghouse, where they will manufacture key components for their eVinci Microreactors. Located 20 miles from Westinghouse's headquarters in Cranberry Township, the tenant has made a significant investment of approximately $18 million into the Property, underscoring their long-term commitment. The current ownership acquired 51 Bridge Street in 2020 and completed a transformative redevelopment, earning the distinction of "2023 Best Tech Flex Project" from NAIOP Pittsburgh. The redevelopment was carefully designed to create a dynamic and cohesive blend of office and tech flex spaces, catering to the needs of technology, robotics, and manufacturing companies. The Property is situated in Etna Borough, a quaint community spanning one square mile along the Allegheny River, approximately 6 miles northeast of Downtown Pittsburgh. Once recognized as a mill town, Etna has transformed into a thriving residential area with a diverse mix of businesses. With over 160 businesses, the community hosts a variety of employers, including industrial companies, local restaurants, small shops, and consumer outlets. Strategically positioned at the intersection of Route 28 and Route 8, Etna offers excellent accessibility to a wide trade area, making it an ideal location for industrial tenants and major employers. Route 28 runs alongside the Allegheny River, connecting Downtown Pittsburgh to the northeast suburbs, including Etna, Fox Chapel, Harmar, and beyond. Route 8 serves as a key north-south corridor, linking Pittsburgh’s east end neighborhoods to the northern suburbs. PA Broker of Record: Sunita Arora License #: RM061605A

FOR SALE DETAILS

PRICE

$28,400,000 USD

PRICE/SF

$325 USD /SF

CAP RATE

6.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Westinghouse Electric Co - NNN Lease

PROPERTY TYPE

Flex

PROPERTY SUBTYPE

R&D

ADD'L SUBTYPES

Manufacturing, Warehouse

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1902

UTILITIES

Gas - Natural, Water - City, Sewer - City, Heating

CLEAR CEILING HT

-

DOCKS

-

DRIVE INS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.62

LAND SF

114,127

ZONING

Industrial

APN/PARCEL ID

0167-F-00190-0000-00

ASK ABOUT THIS PROPERTY

Andrew GreenbergHMX Realty AdvisorsMore Info
646-850-9837

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Andrew GreenbergHMX Realty AdvisorsMore Info
646-850-9837

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.