5600, 5700 & 5800 Corporate Dr, Pittsburgh, PA 15237

Weighted Average Lease Term

McCandless Corporate Center has a weighted average lease term of 3.8 years. In addition, the weighted average in-place tenancy is 11.0 years, demonstrating a commitment to the Properties by the tenancy. The WALT provides investors a predictable cash flow and manageable lease roll, with no single year having greater than 16.7% roll.

Value-Add through Lease-Up

At 62.0% occupancy, investors have the ability to lease up the remaining 38.0% (109,855 SF) to generate additional cash flow and returns. Vacant suites range in size from 375 SF – 19,965 SF, including the full top-floor availability (18,828 SF) at MCC 1. The varying sizes offer the new owner ability to attract a wide array of tenants and allow for new and existing tenants to grow within the Portfolio. Additionally, current ownership began a spec-suite program that was very well received and leased quickly.

Cash Flow

With a Year 1 NOI of $1,156,991, the Portfolio offers investors strong cash flow, providing compelling returns, with the ability to fund future tenant improvements and capital expenditures over the duration of the hold period. The stable footing allows investors to focus on the lease-up of the remaining vacancy and retention of the existing tenancy.

McKnight Road/Suburban North Accessibility

The Properties are strategically positioned in the Route 19 North corridor, directly north of downtown Pittsburgh. This dense, amenity rich, suburban node is easy accessible to a deep employment base. Route 19 provides direct access to the Pittsburgh Central Business District to the south (9.7 miles) and Interstates 79/the Pennsylvania Turnpike (10.1 miles). Being nearly equidistant from these two major crossroads provides McCandless Corporate center the built-in accessibility to attract and retain tenancy.

Interconnected Campus, Ample Parking

The greater McCandless Corporate Center campus is a serene, park-like suburban campus with lush, mature landscaping. Additionally, the Portfolio has an interconnected walking trail abutting a wooded area, outdoor seating, bocce courts and a maintained beehive. With free surface parking, including the parking deck at MCC 3 offering a full floor of covered parking, the park has ample parking to provide for any tenant use type.

Signage Opportunities

MCC 1 & MCC 3 have the ability to offer high-wall signage for a new or renewing tenant, as is represented by the Smith Micro signage on MCC 2. This provides a competitive advantage for the competitive set for the tenant looking for additional branding and visibility . This opportunity is particularly valuable at MCC 1, with the full top floor availability of 18,828 SF, which is highly visible from Route 19 and the 52,000+ vehicles that pass it daily.

Antenna Income

Given the prominent hilltop location, MCC 3 has various rooftop antennas generating additional income. Totaling approximately $55,990 in Year 1, investors have the optionality to monetize the income steam by selling the leases to an investor and generating yet unrealized returns.

Access to Retailers

The Route 19 corridor is one of the most dense retail corridors in Pittsburgh, offering tenants and visitors of McCandless Corporate Center access to numerous dining, shopping and experiential retail options. Of note, is proximity to both McCandless Crossing – a 135+/- acre development with over 1.2 million SF of retail, medical, hospitality, office, entertainment, residential and senior living and Ross Park Mall, which is Simon owned and Pittsburgh’s top regional mall with high-end retailers including Louis Vuitton, Gucci, Tiffany & Co, Apple, and is home to Pittsburgh’s only Nordstrom and first Dick’s Sporting Good House of Sport.

Public Transit Access

McCandless Corporate Center is served by the Pittsburgh Rapid Transit Bus system, with a dedicated stop, via the McKnight Route. The route connects the Property to surrounding bedroom communities, in addition to the Central Business District. This provides employees further accessibility for those that don’t drive or have access to private transportation, and employers a deeper hiring pool.

Campus-Wide Amenities

McCandless Corporate Center provides an amenity-rich environment for tenants. This includes the shared conference center and state-of-the-art gym, both of which are accessible to all tenants within the park. The conference center is equipped with Wi-Fi and AV capabilities and the gym is fully-built out with multiple cardio machines & benches for use of the park’s employees.