PITTSBURGH — Point Park University’s buy of a near vacant, three-story commercial building in the middle of Smithfield Street downtown traded at a sales price of $1.7 million, according to public transaction records.
That translates to a little more than $40 a square foot, a low sales price in a commercial market in which modest-sized downtown properties have been listing and selling for a higher price even in the midst of what’s been a slower market amid downtown’s ongoing challenges.
Point Park confirmed the basics of the sale but didn’t provide any further details on new plans for the property, which was built in the 1950s and is perhaps best known still for the one-time CVS store that operated in it before integrating into the downtown Target store across Smithfield Street.
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