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Opportunity Zone

NNN Westinghouse Electric Company

Industrial | 6.75% CAP | 87,420 SF

Listing Contacts

Active

Asking Price: $28,400,000
Address 

51 Bridge St, Pittsburgh, PA 15223

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Date Added
Jan 14, 2025
Days on Market
159 days
Time Since Last Update
25 days

Details

Property TypeIndustrial
SubtypeFlex, Warehouse, Manufacturing
Investment TypeNet Lease
Lease TypeNNN
TenancySingle
Brand/TenantWestinghouse Electric Company
Lease Term10 years
Lease Commencement12/31/2024
Lease Expiration12/30/2034
Remaining Term9.5 years
Square Footage87,420
Cap Rate6.75%
Occupancy100%
NOI$1,917,121
Year Renovated2024
ZoningIndustrial
Lot Size (acres)2.62
Parking (spaces)139
Rent Bumps2% Annual Rent Bumps
Broker Co-OpYes
Lease OptionsTwo (2) –Five (5) Year Options
Ceiling Height13’-39’
IntelligenceINTELLIGENCE
Explore more in-depth Comp & Record details for this property. Explore

Marketing Description

On behalf of Ownership, HMX Realty Advisors is pleased to present the opportunity to acquire 51 Bridge Street (the “Property”), a 87,420 square foot tech flex building that is fully leased to Westinghouse Electric Company for the next 10 years.​ Situated just 6 miles northeast of Downtown Pittsburgh, the Property will serve as a mission-critical facility for Westinghouse, where they will manufacture key components for their eVinci Microreactors.​ Located 20 miles from Westinghouse's headquarters in Cranberry Township, the tenant has made a significant investment of approximately $18 million into the Property, underscoring their long-term commitment.​


The current ownership acquired 51 Bridge Street in 2020 and completed a transformative redevelopment, earning the distinction of "2023 Best Tech Flex Project" from NAIOP Pittsburgh.​ The redevelopment was carefully designed to create a dynamic and cohesive blend of office and tech flex spaces, catering to the needs of technology, robotics, and manufacturing companies.​


The Property is situated in Etna Borough, a quaint community spanning one square mile along the Allegheny River, approximately 6 miles northeast of Downtown Pittsburgh.​ Once recognized as a mill town, Etna has transformed into a thriving residential area with a diverse mix of businesses.​ With over 160 businesses, the community hosts a variety of employers, including industrial companies, local restaurants, small shops, and consumer outlets.​


Strategically positioned at the intersection of Route 28 and Route 8, Etna offers excellent accessibility to a wide trade area, making it an ideal location for industrial tenants and major employers.​ Route 28 runs alongside the Allegheny River, connecting Downtown Pittsburgh to the northeast suburbs, including Etna, Fox Chapel, Harmar, and beyond.​ Route 8 serves as a key north-south corridor, linking Pittsburgh’s east end neighborhoods to the northern suburbs.​

 PA Broker of Record: Sunita Arora  License #: RM061605A

Investment Highlights

•      Mission Critical Facility

•      Headquarters & Manufacturing for eVinci Microreactor

•      Investment Grade Parent Companies - Brookfield Renewable (S&P: BBB+) & Cameco (S&P: BBB-)

•      10 Year NNN Lease

•      20 Miles from Westinghouse Electric Company’s Headquarters

Valuation Calculator

Valuation Calculator

Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
> $1,917,121.00
$159,760.08/mo

Valuation Metrics

0
DSCR
6.75%
Cap Rate
6.75%
ROI

Due Diligence

Due diligence information will be provided.
Please reach out to the listing contacts for details.

Contact

Listing Contacts


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