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2501 Wilmington Rd 83,955 SF Office Building New Castle, PA 16105 $1,500,000 ($17.87/SF)
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Investment Highlights
- Discover 2501 Wilmington Road, a premier Class B office building offering 83,955 square feet of flexible business space on over 7 acres.
- Previously home to Liberty Mutual Insurance, the building features a prestigious white stone façade, cafeteria, and over 500 parking spaces.
- Located near top retailers like Walmart Supercenter, Dunkin’, and Lowe’s, plus essential services like UPMC and the Department of Transportation.
- Recently renovated, move-in-ready property provides businesses with a strategic location and customizable layouts for growth and success.
- Enjoy seamless access to Interstate 376, with Pittsburgh International Airport just 45 minutes away and nearby hotels for business travelers.
- Enterprise Zone Tax Credit eligibility and proximity to a skilled workforce of over 45,000 residents make it a valuable investment opportunity.
Executive Summary
2501 Wilmington Road is a premier investment opportunity in New Castle, Pennsylvania. It offers a multi-story, approximately 83,955-square-foot office building on 7.35 acres.
This well-maintained Class B asset offers flexible configurations ranging from 26,620 square feet per floor to a full 79,860 square feet, making it ideal for owner/users or value-add investors. Formerly home to Liberty Mutual Insurance, the building features a distinctive white stone façade, two elevators, two loading docks, a cafeteria, 582 surface parking spaces, monument signage, and a landscaped picnic area. Renovated in 2019, the interior features open, light-filled layouts with expansive windows. Delivered vacant, 2501 Wilmington Road is ready for immediate occupancy or repositioning to meet market demand.
Strategically located along a major thoroughfare with over 15,000 vehicles passing daily, 2501 Wilmington Road offers excellent visibility and accessibility. Just minutes from Interstate 376, the University of Pittsburgh Medical Center (UPMC), and the Pennsylvania Department of Transportation, the property benefits from strong regional connectivity. The surrounding area features a robust retail presence, including Walmart Supercenter, Lowe’s, Dunkin’, McDonald’s, KFC, Walgreens, and several national and regional businesses. For business travelers, Pittsburgh International Airport is just 45 minutes away, with nearby hotels like Holiday Inn Express and Hampton Inn adding convenience.
Located in Lawrence County, approximately 45 miles northwest of Pittsburgh, New Castle is a historic city with a diversified economy and a growing commercial presence. With a population exceeding 45,000 within 5 miles and eligibility for Enterprise Zone Tax Credits, this location offers significant economic advantages. As New Castle continues its revitalization, supported by increasing rental rates and public investment, 2501 Wilmington Road presents a rare opportunity to own a sizable, modern office facility in a strengthening market.
This well-maintained Class B asset offers flexible configurations ranging from 26,620 square feet per floor to a full 79,860 square feet, making it ideal for owner/users or value-add investors. Formerly home to Liberty Mutual Insurance, the building features a distinctive white stone façade, two elevators, two loading docks, a cafeteria, 582 surface parking spaces, monument signage, and a landscaped picnic area. Renovated in 2019, the interior features open, light-filled layouts with expansive windows. Delivered vacant, 2501 Wilmington Road is ready for immediate occupancy or repositioning to meet market demand.
Strategically located along a major thoroughfare with over 15,000 vehicles passing daily, 2501 Wilmington Road offers excellent visibility and accessibility. Just minutes from Interstate 376, the University of Pittsburgh Medical Center (UPMC), and the Pennsylvania Department of Transportation, the property benefits from strong regional connectivity. The surrounding area features a robust retail presence, including Walmart Supercenter, Lowe’s, Dunkin’, McDonald’s, KFC, Walgreens, and several national and regional businesses. For business travelers, Pittsburgh International Airport is just 45 minutes away, with nearby hotels like Holiday Inn Express and Hampton Inn adding convenience.
Located in Lawrence County, approximately 45 miles northwest of Pittsburgh, New Castle is a historic city with a diversified economy and a growing commercial presence. With a population exceeding 45,000 within 5 miles and eligibility for Enterprise Zone Tax Credits, this location offers significant economic advantages. As New Castle continues its revitalization, supported by increasing rental rates and public investment, 2501 Wilmington Road presents a rare opportunity to own a sizable, modern office facility in a strengthening market.
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Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Building Size
83,955 SF
Building Class
B
Year Built
1970
Price
$1,500,000
Price Per SF
$17.87
Tenancy
Single
Building Height
3 Stories
Typical Floor Size
27,985 SF
Slab To Slab
12’
Building FAR
0.26
Lot Size
7.35 AC
Zoning
C1
Parking
600 Spaces (7.15 Spaces per 1,000 SF Leased)
Amenities
- Courtyard
- Food Court
- Outdoor Seating
- Air Conditioning
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
Ample space available for lease.
Full space options available.
Ready for tenancy.
| Space | Size | Space Use | Condition | Available |
| 1st Floor | 26,620 SF | Office | - | Now |
| 2nd Floor | 26,620 SF | Office | - | Now |
| 3rd Floor | 26,620 SF | Office | - | Now |
1st Floor
| Size |
| 26,620 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
2nd Floor
| Size |
| 26,620 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
3rd Floor
| Size |
| 26,620 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
1st Floor
| Size | 26,620 SF |
| Space Use | Office |
| Condition | - |
| Available | Now |
Ample space available for lease.
2nd Floor
| Size | 26,620 SF |
| Space Use | Office |
| Condition | - |
| Available | Now |
Full space options available.
3rd Floor
| Size | 26,620 SF |
| Space Use | Office |
| Condition | - |
| Available | Now |
Ready for tenancy.
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Demographics
Demographics
1 mile
3 mile
5 mile
2020 Population
5,038
30,111
45,544
2024 Population
4,702
30,202
45,769
Population Growth '20-'24
-6.7%
0.3%
0.5%
2020 Households
2,145
12,927
19,433
2024 Households
1,997
12,950
19,513
Household Growth '20-'24
-6.9%
0.2%
0.4%
Average Age
44
43
43
Median Household Income
$81,772
$55,396
$54,893
Daytime Employees
2,543
19,912
26,329
Total Businesses
434
2,181
2,876
College Degree + Higher
30%
22%
21%
Property Taxes
| Parcel Number | 25-229500 | Improvements Assessment | $1,067,200 |
| Land Assessment | $772,800 | Total Assessment | $1,840,000 |
Property Taxes
Parcel Number
25-229500
Land Assessment
$772,800
Improvements Assessment
$1,067,200
Total Assessment
$1,840,000
About the Seller
Read More
Other Properties in the PENNMARK MANAGEMENT COMPANY, INC. Portfolio
Sale Advisors
Sale Advisors
Ian Dupre, Senior Associate
A graduate of Hillsdale College with a BS degree in Economics, Ian started his career in real estate as an advisor with SVN Three Rivers Commercial Advisors in 2019, providing financial analysis, investment consultation, and negotiation services that resulted in the brokering of a number of deals across multiple asset types. Prior to working with SVN, Ian worked as a Landman with Dudley Land Company, working on multiple title projects while fostering an in-depth knowledge of Southwestern PA’s oil and gas industry.
Outside of his professional career, Ian enjoys outdoor activities such as snowboarding, golf and rock climbing; he is also an active volunteer with the Library Sportsmen’s Association, where he and his brother operate one of the organization’s clay target facilities.
Outside of his professional career, Ian enjoys outdoor activities such as snowboarding, golf and rock climbing; he is also an active volunteer with the Library Sportsmen’s Association, where he and his brother operate one of the organization’s clay target facilities.
Bryan McCann, SVP Capital Markets, Multi Family
Bryan received his undergrad from Duquesne University in 2003, earned a law degree by 2006 from Duquesne University School of Law and ultimately earned an MBA in Cyber Security and Finance in 2015 from The George Washington University. Prior to joining Colliers, he worked for the FBI for 11 years and was responsible for running high-profile investigations and advisory to executives. In 2017, Bryan returned to Pittsburgh to begin his career in commercial real estate. Since then, Bryan has led Capital Market teams and concentrated his practice on multifamily transactions. He joins Colliers Pittsburgh as Senior Vice President of Capital Markets, Multifamily.
Willis Croker, VP Capital Markets, Multi-Family
Willis received his undergrad degree from The University of Dayton in economics and marketing. He started his career in commercial real estate in 2019. Since then, Willis has worked to advise private capital and institutional clients on all matters related to capital markets transactions. He joins Colliers as Vice President of Capital Markets, Multifamily.
Matt Reder, Associate
Reder is a Detroit native that calls Pittsburgh home. After earning his Bachelor of Science in real estate and finance from Virginia Tech in 2020, Matt began his professional career in property management with CBRE, then transitioned into financial underwriting for Eagle Bank; prior to joining Colliers, he most recently served as an agency underwriter for Capital One.
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