Wexford, PA — Cushman & Wakefield announced that the firm has represented First Commonwealth Bank in its $4.4 million sale of the bank’s former Wexford office building.
Michael Sell, CCIM, represented First Commonwealth in the transaction with an undisclosed buyer. The sale achieved $197 psf, the largest price per s/f for a vacant office property in Wexford.
“First Commonwealth’s former Wexford office offered a great, central location in an affluent Pittsburgh suburb,” said Sell, a director in Cushman & Wakefield’s Capital Markets group. “Prospective investors were intrigued by the quality of the existing building, its flexible options and the quality of the surrounding area, all of which drove a competitive bidding process.”
Located 1001 Village Run Rd. in Wexford’s primary medical and retail corridor, the building totals 22,350 s/f and was developed in 2000. The property includes an in-place drive-thru and new HVAC, roof and LED lighting.
First Commonwealth Bank has since built a new retail branch on Rte. 19 at 12449 Perry Highway in Wexford to best serve the community’s personal and business banking customers.