FOR IMMEDIATE RELEASE: Media Contact: Desiree Niccoli, desiree@alschulerpr.com, 412-535-5701
GROUNDBREAKING ON NEW SPEC OFFICE BUILDING AT RIDC INNOVATION RIDGE
Local leaders joined developer Innovation Center Associates and officials of Regional Industrial Development Corporation (RIDC) to break ground on Innovation Pointe, an $18 million speculative office development at the RIDC Innovation Ridge campus in Marshall Township.
Surrounded by wooded lots, walking trails and interstate accessibility, the three-story, 90,000 square foot Class A structure will be situated on a nine-acre site at the highest point on the property. Innovation Center Associates has selected the Al. Neyer company to perform design and construction oversight and Newmark Knight Frank as exclusive leasing representatives.
The LEED Silver designed project will feature 30,000 square foot floor plates and is scheduled to be completed and ready for tenant occupancy in the 4th quarter of 2019.
Innovation Ridge, owned by RIDC, is a 223-acre advanced technology and office park, designed with significant attention to the environment. Of the total acreage, almost 50% has been set aside for primary conservation areas, forested and landscaped buffer zones, and various open spaces. In addition, the design includes a state-of-the-art grading plan that will preserve wetlands and slopes. RIDC has also constructed a recreational trail through the site.
Bob Randall, President of Innovation Center Associates said: “This is a terrific site for a corporate headquarters or office center. I am confident that it will attract first class companies that care to provide their team members with a quality place and space to work.”
Donald Smith, President of RIDC, said: “Innovation Ridge has enormous potential – located in one of the fastest growing areas of our region and an easy commute via I-79, the PA Turnpike and other major thoroughfares. It is exciting to see a forward-looking developer showing confidence in the future of our region and our economy – making a significant investment in what we all believe will be new business activity, jobs and economic development.”
Building leasing agent Tom MacDonald, Senior Managing Director of Newmark Knight Frank said: “The crossroads location of northern Allegheny County / southern Butler County is a very tight commercial market for large high-quality office options. Today’s office users are seeking efficiency with large floors and high parking capacity, combined with aesthetics of modern design elements a pleasant work environment. This building delivers on these key factors.”
Innovation Center Associates acquired its site from RIDC in August 2015. Already located at Innovation Ridge is an existing office building containing over 200 jobs, primarily in tech and financial services, and residential executive townhouses constructed by Ryan Homes. Additional parcels for office development are currently being marketed by RIDC.
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TribLIVE – Developer breaks ground on 90,000 square foot ‘Innovation Pointe’ in Marshall Township
Pittsburgh Business Times – Second building under way at Innovation Ridge
Breaking Ground Magazine – Office Prospects Remain Strong
Real Estate Finance & Investment – Local developers to break ground on Pennsylvania campus