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100-year-old Henry W. Oliver Building up for sale Downtown

| Saturday, June 19, 2010

The owner of the 25-story Henry W. Oliver Building, which this year celebrates its 100th year, has placed the 471,000-square-foot Downtown building on the market.

Brad Totten, senior vice president, Grubb & Ellis/Pittsburgh, was selected by the owner, Oliver Building Ltd. Partners, to market the building. No listing price was disclosed.

SN Phelps Realty LLC, a Connecticut-based firm, is listed as the general partner with LG Realty Partners, Downtown, as manager of the building, which the owner purchased in 1995 for $22.75 million, according to the Allegheny County real estate website. The seller was Travelers Insurance Co., which acquired the building after the local partnership owners in 1991 had filed for bankruptcy protection.

The building, at 535 Smithfield St., currently 30 percent occupied, has over 200,000 square feet of space available for leasing, following the departure earlier this year by K&L Gates LLP into One Oliver Plaza, which has been renamed K&L Gates Tower.

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