PITTSBURGH — Brookfield Properties, a unit of a global asset manager that bought out of the former Forest City Realty three years ago, is marketing the mixed-use Station Square complex for sale, according to sources familiar with the plan.
The New York-based company, perhaps most familiar locally for buying Westinghouse Electric Co. out of bankruptcy a few years ago, declined to comment on the prospect of selling the complex.
But it did provide an update on its ongoing upgrades at Station Square, noting the completion of $16 million investment in the renovation of the Freight House with the goal of “upgrading the property’s infrastructure including streets, sidewalks and signage” in an effort to “deliver a dynamic retail and entertainment experience to the Pittsburgh community, while preserving the site’s history,” according to a prepared statement.
The complex, which extends along a mile and a half of riverfront and totals 52 acres, is being marketed without a list price by Mark Popovich of HFF, a subsidiary of JLL, according to sources familiar with the sales campaign who spoke anonymously to maintain their business relationships.
Read more in the Pittsburgh Business Times.
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