1:00 PM
Just 12 months following the completion of its construction, the office building at 300 Woodcliff Drive in the Southpointe II business park in Canonsburg, Pa., is 100 percent leased to four tenants, according to exclusive leasing agent Newmark Grubb Knight Frank (NGKF).
In the largest transaction, Rice Energy signed a lease for 18,380 square feet to complement the space it is building out next door. Computer Aid Inc. relocated from its Parkway West location and expanded into 15,167 square feet to accommodate future growth. NiSource Midstream Services leased 6,642 square feet as it opens its new office in the area, while current Southpointe tenant Stallion Oilfield Services relocated and expanded into 3,113 square feet.
“We had been anxious to enter the highly successful Southpointe market, and 300 Woodcliff provided the perfect opportunity,” said Ryan Schwotzer, vice president with Crossgates Inc., the managing partner. “We are more than pleased the building leased ahead of schedule with such quality tenants.”
NGKF’s Gerard McLaughlin, executive managing director, Jeffrey Schultz, managing director, and Carmine DiLucente, associate, led the leasing efforts.
“This is one of the hottest submarkets in the Pittsburgh region and Class A offices like this one are commanding a lot of attention from new and expanding companies,” said Mr. McLaughlin. “It’s always a pleasure to see a project come full circle, from the initial purchase of the land to the successful leasing of the property. We’re proud to be part of that entire process.”
Crossgates first purchased the 3.71 acres at Southpointe II in 2012, a transaction that NGKF also helped broker on its behalf. In 2013, the approximately 45,000-square-foot building came on the market offering first-class office space.
300 Woodcliff Drive is located in the Southpointe II campus, which is 20 minutes south of downtown Pittsburgh and comprises of 800,000 square feet of Class A corporate office space and a new hotel. The campus expands on the success of the original Southpointe Business Park, which spans 2.5 million square feet of office space, includes 150 companies and employs 6,500 workers. To date, Southpointe II has generated 1,100 jobs with an estimated 1,500 more expected in the future, according to Washington County Economic Development Partnership.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 12,000 professionals operate from more than 320 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc. (NASDAQ: BGCP), a leading global brokerage company primarily servicing the wholesale financial and real estate markets. For further information, visit www.bgcpartners.com.