New Jersey-based investor buys industrial building in Cheswick

A New Jersey investor has made a big investment in the region.

Treetop Cos., based in Teaneck, New Jersey, recently bought the Pittsburgh Logistics Center, a 515,411-square-foot distribution facility at 460 Nixon Road in Cheswick in an announced sale for $32 million, which translates to $62 a square foot for what has long operated as a multi-tenant building.

Treetop bought the property from suburban Philadelphia-based Maguire Hayden Real Estate Co. after a hold of a little more than 10 years. Maguire Hayden bought the property in 2016 for $21.1 million.