Colliers International | Pittsburgh sells 238,000 s/f, 31st Street Studios for $14 million

December 18, 2017

PITTSBURGH, PA — New York-based North River Pittsburgh I, LLC purchased 31st Street Studios, the largest sound stage between New York and Los Angeles, for $14 million. The 238,000 s/f multi-industrial complex sits riverfront on 9.36 acres in Pittsburgh’s iconic Strip District. 
“The sale of the 31st Street Studios property is yet another example of the high velocity of the Strip District commercial real estate market and brings yet another high quality investment firm to the Pittsburgh market,” said Gregg Broujos, managing director & founding principal of Colliers International | Pittsburgh, who served as the broker for the public auction. 
In addition to Broujos, John Bilyak, principal, and Justin Kline, associate for Colliers International | Pittsburgh along with Robert O. Lampl Law Office, represented the seller, Gateway Entertainment Studios LP.
Allentown, PA — Colliers International’s Allentown team of Ryan Dietrick, Kelly Berfield and John Susanin represented Brookwood Financial Partners, LLC (Brookwood) in facilitating two new leases at the Iron Run Corporate Center at 7450 Tilghman St. in Allentown
• 24,269 s/f / JetPay Human Resources & Payroll Services, Inc. / represented by Brian Lafond and Dave Butera of Gola Corporate Real Estate, Inc.
• 11,000 s/f / Resource Search Company d/b/a RSC Solutions relocating from the Wyomissing market to Lehigh Valley / represented by John Buccinno of NAI Keystone.
In addition to the convenient location of the building, targeted capital and cosmetic improvements attracted these high-quality tenants to this site. The improvements made by Brookwood include extensive upgrades to the common areas including a new seating area and lobbies. Additionally, the construction of a new café and fitness room make this a highly desirable office space. 22,985 s/f of class A office space is still available.

 

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