One of the region’s biggest new buildings occupied by one of the world’s biggest companies is under new ownership, sold as part of a larger portfolio deal in what CBRE described in a new quarterly industrial report as “the largest industrial investment sale in the Pittsburgh market’s history.”
Texas-based Hillwood Investment Properties, which built the more than one-million-square-foot distribution facility in the Chapman-Westport business park in Findlay Township, sold the complex at 1200 Westport Road to San Francisco-based Stockbridge Capital Group as one property among many others. The deal was originally announced by Stockbridge in early December without specifying the properties involved for which reporting in the Wall Street Journal reported a total deal value in the range of $2 billion.
Jennifer Newman, the director of marketing for Stockbridge, confirmed the basics regarding the Findlay property in the larger deal.
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