Overview
As exclusive agent, Cushman & Wakefield’s National Industrial Advisory Group is pleased to offer a 100% fee interest in 1200 International Drive for sale. This 99,500 square foot industrial building is currently leased to two different tenants with a WALT of 2.99 years.
The Pittsburgh market is an educational hub, driving a strong tech presence in the surrounding area. Located 25 minutes west of Pittsburgh, the building sits in the North Fayette Township portion of the Parkway West Submarket. Proximity to Pittsburgh and access to the I-376, I-79 and the Pittsburgh International Airport drive market growth. With 60% vacancy in the building, there’s an opportunity to add value through leasing up the remaining vacancy to increase NOI in the short term.
Investment Highlights
Ideally Located In a Growing Market
- Located directly off Route 22/30, 7 minutes from I-376, 10 minutes from I-79 and 7 minutes to I-576 (Southern Beltway)
- 16 miles West of Pittsburgh
- 6 miles South of Pittsburgh International Airport
Brand New Class A Product with Value-add Potential
- Brand New Class A Construction
- 40% leased with 2.99 years of WALT
- 138% increase in NOI over 3 years
Value Creation
- The Pittsburgh Market saw 3.2 MSF of absorption in 2023, the highest total in more than 15 years
- Current vacancy in the Pittsburgh Market is 6%
- A record 1.6 MSF of industrial product delivered in Q4 2023 with only 207,500 SF actively U/C
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