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$30 Million Pittsburgh Metro Industrial Asset Sale Leaseback Brokered by Marcus & Millichap

May 12, 2022

BRIDGEVILLE, Penn., May 12, 2022 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale and leaseback of 1000 Park Drive, a four-building, 346,009-square-foot manufacturing asset triple-net-leased to Black Box Corp. in Bridgeville, Pennsylvania. The property sold for $30 million.

“The asset is close to major freeways, including Interstate 79, and additional land included in the sale allows for further development and outside storage,” said Adam Abushagur, senior managing director investments in Marcus & Millichap’s Dallas office. “During Q4 2021, annual market rent growth in the submarket reached an all-time high of 9.5%, which matches the overall Pittsburgh industrial market.” Abushagur arranged the transaction of behalf of the seller, a sister company of Black Box Corp, and procured the buyer, Spirit Realty Capital.

Constructed in 1980 on 31 acres, the asset features product storage heights that range from 11 feet to 28.5 feet, 26 dock-high doors, and five grade-level doors.
Black Box Corp. is a world-leading provider of premier information technology (IT) infrastructure solutions. The company designs and manufactures a variety of award-winning IT products, including cables, cabinets and racks, and provides management and field services. Sean Beuche, license no. RM424190, is Marcus & Millichap’s broker of record in Pennsylvania.

 

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About Marcus & Millichap (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.

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