February 6, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of 501 Technology Drive, a 98,314-square-foot, Class A office building in the Southpointe Office and Industrial Park, located approximately 20 miles south of downtown Pittsburgh.
The HFF team marketed the asset on behalf of the seller, 501 Technology Partners, LLC, an affiliate of Laurus Corp., and procured the buyer, The Aztec Fund, Inc.
501 Technology Drive is situated on 8.5 acres within the Southpointe Office and Industrial Park, one of the premier business parks within the Pittsburgh MSA and the only mixed-use development of its type in southwestern Pennsylvania. The park is located just off Interstate 79 southwest of Pittsburgh’s central business district and 15 miles south of Pittsburgh International Airport. Completed in 2000, the three-story property is fully leased to a high quality tenant mix, including Primetals Technologies and Siemens.
According to HFF senior managing director Mark Popovich, who led the marketing effort, this acquisition marks Aztec’s initial entry into the Pittsburgh market and it also reflects Pittsburgh’s appeal to global capital investors.
The HFF investment advisory team representing the seller included senior managing director Mark Popovich and associate Nick Unkovic.