Three Robinson Plaza
Three Robinson Plaza, Pittsburgh, PA 15205
This three building complex was purchased in 2007 from a lender who had foreclosed on the property. Much of the space was previously occupied by Bayer, before relocating its North American headquarters 2 miles away. Upon acquisition, the total occupancy of the buildings was less than 50%. McKnight’s approach was to proceed with renovations of Buildings 2 and 3 initially. They were newer and had limited occupancy. The goal was to fully lease these buildings before commencing work on Building 1, which sat vacant except for a ground floor restaurant. With new mechanicals and renovated lobbies, Buildings 2 and 3 were successfully leased. The next step was a complete renovation of both the interior and exterior of Building 1. Additionally a free standing bank building was removed to accommodate the additional parking needs of future tenants. The surrounding market area is robust, and this property is being very well received, with two thirds of the available space being leased before completion of the renovation. The proximity to the International Airport and the Marcellus Shale industry has contributed to the success of Robinson Plaza and the Robinson office market.