Matthews™ Brokers Disposition of Pittsburgh Data Center

Pittsburgh, PA —Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, completed the sale of a 26,080 square-foot data center at 810 Parish St., Pittsburgh, PA. Matthews™ Associate Charles Borges and Market Leader Andrew Gross brokered the transaction.

 

The property, leased by Expedient, was sold by Virginia-based REIT Gladstone Commercial Corporation. The investors first acquired the building in 2011. Gladstone Commercial completed an early lease extension with Expedient, increasing the value of the investment to buyers. Gladstone Commercial stated the sale furthers their plans to reposition their investment portfolio.

 

“The data center is 100% leased by a stable and reputable tenant for a significant remaining term, greatly increasing buyer interest,” Borges said. “We were able to drive a competitive offer environment and achieve Gladstone’s goals.”

 

A California-based investment company purchased the data center off-market.

 

“We were happy to facilitate a successful deal for both parties involved,” Gross said. “The investment is a great addition to the buyer’s digital infrastructure portfolio.”

 

For more information or to contact a Matthews™ specialized agent, please visit www.matthews.com.

 

About Matthews™

Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 600 agents and support staff in 20+ offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.