TribLIVE

| Home


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

UPMC buys SouthSide Works building for $25 million

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

Daily Photo Galleries

Thursday, Oct. 11, 2012, 11:41 a.m.
 

UPMC purchased a four-story office building in SouthSide Works for $25 million, the health system said on Thursday.

UPMC leased the Quantum I building for the past 10 years for billing, scheduling and other administrative offices.

The purchase from South Side-based developer Soffer Organization closed Wednesday, UPMC spokeswoman Susan Manko said.

Soffer wanted to unload Quantum I as it deals with a $49.6 million loan default on the building and two others in SouthSide Works.

Soffer officials could not be reached for comment.

UPMC does not plan to request a property tax exemption for the building, in which about 900 UPMC employees work, Manko said. Western Pennsylvania's dominant health system is the only tenant.

UPMC is the largest private landowner in Allegheny County.

Soffer teamed with Pittsburgh's Urban Redevelopment Authority to develop the 34-acre, $300 million SouthSide Works, with offices, retailers and residences on the site of a former LTV Steel site.

The office occupany rate at the development, which includes the corporate headquarters for clothier American Eagle Outfitters, was about 95 percent on June 30.

Alex Nixon is a staff writer for Trib Total Media. He can be reached at 412-320-7928 or anixon@tribweb.com.

Add Alex Nixon to your Google+ circles.

 

 

 
 


Show commenting policy

Most-Read Stories

  1. Coburn’s final ‘Wastebook’ tallies $25B in what he considers ‘pork’
  2. Flyers continue mastery of Penguins at Consol
  3. Penn State defense returns to familiar spot atop Big Ten Conference
  4. Pitt offense eyes healthy balance
  5. Metropolitan Division holding own in early part of season
  6. NFL notebook: Goodell must testify at Rice appeal
  7. Longtime rivals Kittanning, Ford City set for final act
  8. Daily News Q&A: Lamont Wade, Clairton
  9. High school roundup: Canon-Mac girls down Peters Twp. in shootout
  10. West Shamokin girls volleyball team falls short in playoffs
  11. Deer Lakes hockey team seeks stronger defense to complement offense
Subscribe today! Click here for our subscription offers.