PITTSBURGH, PA — Oxford Development Company announced the completion of 183,000 s/f in commercial lease transactions in 2023 within the 3 Crossings campus.
3 Crossings is in the Strip District neighborhood of the City of Pittsburgh. In 2023, 220,000 s/f of office space was leased in the Strip District submarket with 83% of such leasing occurring within 3 Crossings.
The transactions encompass a range of commercial spaces, catering to the needs of a variety of businesses seeking a strategic presence within the urban landscape. From cutting-edge tech firms to medical enterprises to businesses that serve the needs of the local community, the leased spaces will contribute to the development of thriving and interconnected local, regional, and global business communities.
“We all know too well that the pandemic and subsequent economic turmoil have provided long-term challenges, particularly to the real estate industry. Getting these deals done in this difficult environment takes ingenuity, collaboration, diligence on all sides, and a strong reputation for delivering excellence and on promises. We are grateful that these companies believe in Pittsburgh and this neighborhood as much as we do. We will continue to roll up our sleeves and get creative to make growth happen,” said Steve Guy, president and CEO, Oxford Development Co.
Oxford's expertise in understanding the evolving needs of modern businesses and its dedication to crafting spaces that align with the city's vision for growth have played a pivotal role in securing these leases. The 3 Crossings campus, now enriched by this influx of diverse businesses, positions itself as the hub of innovation and economic activity in the region.
Newcomers Excelitas, Stack AV, Bizowie, Baird, OrthoMidwest, and BlackRhino will join a group of established technology and professional service firms including Latitude AI, Burns White, GNC, Smith + Nephew, Rycon Construction, Robert Bosch, Honeywell Robotics, Free Market Health, Edge Case Research, Oshkosh Corporation, Epic Games, Inpleo, Branding Brand, and Oxford.
Hayner Dental joins a group of personal service providers including Stout Fitness, Madabolic, and Stacks Fitness.
“The journey of 3 Crossings, from mere concept in 2014 to today's bustling innovation center, is a testament to our commitment to thoughtful, sustainable development and an abiding affection for Pittsburgh. Our ethos of cultivating strong local partnerships has shaped this transformation,” said Anne Lewis, Oxford's Board Chair. “It’s as much a part of the architecture of 3 Crossings as the design of the buildings themselves.”
Key highlights of 3 Crossings include:
Sustainable Design: Oxford remains committed to sustainable practices and working to do its part to reduce climate-warming greenhouse gas emissions, aligning with the city’s environmental goals, as well as protecting the health of all who visit 3 Crossings. Buildings on the campus have achieved LEED Gold or Silver certification and the WELL Health + Safety rating. Oxford was also an initial signatory to the Pittsburgh 2030 District and continues to commit all buildings in 3 Crossings to the District, an effort of the Green Building Alliance to reduce energy consumption, water usage, and greenhouse gas emissions.
Innovative Workspaces: The newly leased spaces offer state-of-the-art facilities, providing businesses with the ideal environment to innovate and collaborate.
Strategic Location: Situated within the heart of the Strip District, the urban campus provides convenient access to transportation, amenities, and a vibrant local community.
Economic Impact: The influx of businesses is expected to generate economic growth, create job opportunities, and contribute to the overall prosperity of the city. Developed parcels in 3 Crossings have realized an 842% increase in annual tax revenue generated for the city, county, and school district over what they were prior to development.