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PITTSBURGH — STAG Capital Partners has acquired a 53,183-square-foot office/flex facility located within the Washington Landing mixed-use development in Pittsburgh. McKesson Specialty Pharmaceuticals leases the building, which is situated on 4 acres at 700 Waterfront Dr. The building was bought as part of a tri-party agreement with McKesson and the Pittsburgh Economic and Industrial Development Corp. (PEIDC). Lou Oliva of Grubb & Ellis and Alex Somerville of CB Richard Ellis represented McKesson in the transaction, PEIDC represented itself in-house and Mike Chase represented STAG in-house.
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SEATTLE — Transwestern Investment Company, on behalf of Aslan Realty Partners III LLC, has purchased Park Place, a 21-story, 310,000-square-foot office tower located in downtown Seattle. The company plans to implement a significant capital improvement program to upgrade the building’s common areas and systems. Wright Runsted & Co. have been retained to manage the property; Urbis Partners will handle the leasing. The seller and acquisition price were not disclosed.
NORWALK, CALIF. — MVP Carmenita, an affiliate of the Meridian family of companies, has purchased Carmenita Square Business Park, a 105,442-square-foot business park located on Carmenita Road in Norwalk, for $13.75 million. The park consists of three buildings, which offer units ranging in size from 412 to 7,409 square feet. At the time of acquisition, the property was 90 percent occupied. Robert Socci, Louis Tomaselli and Mitch Zehner of Voit Commercial Brokerage’s Anaheim, Calif., office represented the seller, Carmenita Square Business Park LLC, and the buyer in the transaction.