MSA Safety makes big real estate buy in Cranberry

MSA Safety Inc. (NYSE: MSA), the global company that played an integral role in the 40-year build-out of Cranberry Woods, has made a significant buy at the mixed-use campus.

Real estate records show that MSA has bought the office building property next to its Cranberry Woods campus at 400 Bertha Lamme Drive, an approximately 120,000-square-foot office building on 25 acres originally built 15 years ago for Westinghouse Electric Co. in the early days of its headquarters move to Cranberry. The building is the headquarters of Pittsburgh Paints Co., the newly independent company that was sold off by downtown-based PPG Industries Inc. (NYSE: PPG) at the end of last year.

According to transaction records, MSA Worldwide LLC bought the property from a Real Estate Investment Trust operating as GC Net Lease Cranberry Investors LLC for $19.5 million, a sales value expected to make it among the largest sales of the year in a pandemic-muted investment market that nonetheless is far less than when it was first sold for more than 10 years ago.

Click here to read more from our partner the Pittsburgh Business Times.

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