Thursday, October 14, 2010
PITTSBURGH, PA – The Pittsburgh office of HFF (Holliday Fenoglio Fowler, L.P.) has secured $10 million in permanent financing for 3000 Park Lane Office Building, (top left photo) a 105,315-square-foot office building in Pittsburgh, Pennsylvania.
HFF managing director Claudia Steeb in cooperation with the Los Angeles office of Marcus & Millichap, worked on behalf of The Matteson Companies to secure the 10-year, 4.89% fixed-rate loan through One America, an HFF correspondent lender. Loan proceeds were used to acquire the property.
The property is located at 3000 Park Lane Drive just off Interstate 376 (the Parkway West), at the edge of the major retail development in Robinson Township, which includes a regional mall as well as restaurants, hotels and other service providers.
3000 Park Lane Office Building is fully leased to Connecticut General. Originally constructed in 1991, the property recently underwent a major renovation to meet “green building” certifications.
“As a lender, One America does a magnificent job in providing financing for single tenant properties at highly competitive interest rates,” said Steeb.
The Matteson Companies are a group of affiliated entities engaged in real estate investment, development and management, headquartered on the San Francisco Peninsula with operations in diverse western United States markets.
This is their first acquisition east of the Mississippi, and they are seeking other single tenant opportunities throughout the United States.
Cllaudia A. Steeb, HFF Managing Director, (412) 281-8714, firstname.lastname@example.org
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, email@example.com