Highlights

• Prime investment opportunity on large corner lot
• High occupancy rate and qualified first-floor retail tenants
• Next door to the new Hilton Garden Inn location and city and county government offices

• An estimated 11,814 employees work within a three-block radius
• Quick access to Grant Street, Consol Energy Arena and various downtown venues
• Easily accessible by public transportation

Description

The C.I. Applegate Building, formerly known as 225 Ross Street, is located at the corner of Ross Street and Third Avenue in the southeast corridor of Pittsburgh' s central business district. Constructed in 1910 and renovated in 1988, the class-B office building consists of 30,590 square feet of gross building area and 26,256 square feet (sf) of rentable building area, including and 2,493 sf of basement space.

In addition, the property sits directly across Third Avenue from the site of the new Hilton Garden Inn, a $25 million development that will bring much-needed hotel rooms to the Golden Triangle. Developer Kratsa Partners unveiled design plans for a 156-room facility that will be constructed on the half-acre site of the former Allegheny County Jail Annex. The hotel will include subsurface parking and a restaurant and café with outdoor seating. Construction is scheduled for completion in early 2011.

The property is conveniently located within a three-block radius of more than 3.4 million square feet of office space, the city and county government offices, the county courthouse, Mellon Arena and the new Consol Energy Arena, future home of the Pittsburgh Penguins.