CBRE Secures 80,000 Square Feet of Office and Retail Leases at Gateway Center in Pittsburgh in Last 60 Days

2022 2월 01

Gateway Center Pittsburgh

CBRE has secured more than 80,000 square feet of leases at Gateway Center in Pittsburgh in the past 60 days.
CBRE’s Jeremy Kronman, Adam Viccaro and Dominika Demantova represented the landlord, Hertz Investment Group, in the lease negotiations. 
Recent activity includes new leases, lease renewals and expansions of the following: Babst Calland, Yinz Coffee (two locations), ArcelorMittal, Selective Insurance Company of America, LJ Boss, Direct Marketing, Citizens Bank, Solvaire Technology, Diversified Care Management, as well as an additional unnamed bank and unnamed health insurance provider.
The recent leasing activity comes on the heels of Hertz Investment Group’s significant investment into the property, which includes brand new tenant lounges, a state-of-the-art training and conference center, and a new tenant fitness facility. 
According to Donald C. Bluedorn, Managing Shareholder with Babst Calland, the large investment Gateway Center made, played a large part in its decision to retain its headquarters in place after a thorough search of the market.
“Our Firm’s commitment to our employees and our clients is exemplified by our choice of locations,” said Bluedorn. “Since we opened our doors in 1986, the Gateway Center complex in downtown Pittsburgh has been our corporate headquarters. We are glad to continue making it our home.”
Babst Calland is the seventh-largest law firm in Pittsburgh and occupies 52,186 square feet at Two Gateway Center. JLL represented Babst Calland in the lease negotiations. They are joined by more than two dozen other law firms that take over 291,000 square feet at the property. 
“Leasing activity at the end of 2021 was strong and it carried into 2022, making for a busy year thus far,” said Adam Viccaro, First Vice President at CBRE. “We are seeing tenants relocating and/or renewing/expanding in properties where the landlord has invested in amenities and base building systems. Hertz has made these investments and its beginning to pay off.”

“Gateway Center provides an urban campus setting that gives tenants access to beautiful outdoor spaces at Gateway Center Park and the plaza, as well as Point State Park,” said CBRE’s Dominika Demantova. “The connected, underground parking is a bonus during these colder months.”
Founded in 1977 by Judah Hertz, Hertz Investment Group is a fully integrated real estate investment firm that acquires, markets and manages signature high-rise office properties throughout the United States. Currently, its portfolio of investment properties comprises more than 21 million square feet and spans across 25 cities. 
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.