Next Tier Connect Acquires 505,000 SF Mixed-Use Campus in Metro Pittsburgh
MONROEVILLE, PA. — Next Tier Connect has acquired the former Westinghouse Nuclear headquarters campus in Monroeville. The 505,000-square-foot campus is located at 4350 Northern Pike, 15 miles east of downtown Pittsburgh. The property comprises two buildings connected by a common entrance.
Other features of the facility include 206,000 square feet of contiguous space on the second, third and fourth floors of the East Tower; a shipping and receiving area with three loading docks.
This is the first acquisition by Next Tier Connect, which is a recently formed partnership between New York City-based companies Next Tier HD and RedBird Capital Partners. The new partnership plans to reposition the property and rebrand it as Next Tier Connect — Pittsburgh East. The two buildings are currently home to several Fortune 500 companies for office, call center, business continuity, and data center spaces. Next Tier Connect has also signed new tenants since closing on the sale.
In a press release announcing the new company, RedBird and Next Tier HD officials said, “Next Tier Connect will seek to acquire mixed-use, mission-critical real estate properties and data center-related properties across the United States.”
Mission-critical real estate assets are purpose-built facilities designed to support the most essential operations of tenants.
“We look forward to executing on our expansion into the Pittsburgh market through the acquisition of this premier property,” says David Spiewak, Next Tier HD’s managing principal. “This is a world-class, mixed-use, mission critical campus, which we look forward to restoring to its prior iconic state. The acquisition represents the type of high-quality campuses the Next Tier Connect platform endeavors to own, operate and grow.”
Other details of the transaction were not disclosed.
Next Tier HD is an investment, management and services firm that focuses primarily on mission-critical real estate and data centers. It was formed in 2012 and is led by James Coakley, Kevin Reardon and David Spiewak.
RedBird provides capital to entrepreneurs to help grow their businesses. Since its inception in 2014, RedBird has led more than $2 billion of equity and co-investments.
— Alex Tostado