Cargo Corporate Center
Industrial | 7.96% CAP | 53,695 SqFt
Marketing description
CBRE, as exclusive agent for the owner, is pleased to present the opportunity to acquire Cargo Corporate Center (the “Property”), located at 1120 Stevenson Mill Road, immediately adjacent to the Pittsburgh International Airport.
Cargo Corporate Center is a 53,695 SF flex offering, 100% occupied by 4 tenants. The Property was constructed in 1997, as slab-on-grade with block exterior which provides which provides a high-quality, low maintenance asset. Served by 10 doors (9 dock-high, 1 drive-in), the space is functionally efficient for the tenants that call it home. Cargo Corporate Center sits on 7.05 acres.
Cargo Corporate Center has a weighted average lease term of 4.4 Years, and average in-place rental rate of $10.68/SF. The Parkway West submarket has a 5.3% vacancy rate reflecting Pittsburgh’s lack of new supply due to challenging topography, and mature development. Notable tenancy includes Pantherx Specialty Pharmacy (21,104 SF, 39.3% GLA, Jun-2029 LXD), United Auto Supply (11,511, 21.4% of GLA, Aug-2030 LXD), Perigon Pharmacy (10,540 SF, 19.6% of GLA, Apr-2027 LXD) and Grunau (10,540 SF, 19.6% of GLA, Sep-2035 LXD) who recently expanded to include an additional build-to-suit out building as part of a blend-and-extend, showing their commitment to the location.
The Property is strategically located in Pittsburgh’s Parkway West submarket with immediate access to the Pittsburgh International Airport. This proximity makes Cargo Corporate Center a mission-critical location for it’s tenants.
Investment highlights
Tenant Mix
The Property is occupied by four tenants including specialty pharmacies (Pantherx Specialty & Perigon Pharmacy), auto supply (United Auto) and life safety (Grunau Fire Protection). All tenants benefit from Cargo Corporate Centers strategic location including proximity the newly upgraded Pittsburgh International Airport, major thoroughfares and industry.
Renewed Commitment
Grunau Fire Protection recently exercised their option early, taking their term through September 2035. As part of their extension, Ownership erected an additional 2,000 SF storage building to further support Grunau’s long term tenancy and commitment to the location.
Strategic Location
The Property is located right across the street from Pittsburgh International Airport in Allegheny County. The Airport has recently finished a long-awaited $1.7 billion dollar terminal project. The brand new 811,000 SF facility opened in November of 2025, effectively replacing the previous 33-year old terminal.
Cargo Corporate Center is less than 0.5 miles to the Cargo Interchange at International Drive of the Pittsburgh Airport leading it to serve as an excellent location logistically for industrial tenants.
Regional Access and Proximity
Cargo Corporate Center’s close proximity to major roadways and thoroughfares such as Interstate 79, Interstate 576, and Interstate 376 provides convenient access to major locations throughout the entire Pittsburgh MSA. These roadways and thoroughfares provide access to Pittsburgh International Airport, Downtown Pittsburgh, top universities including Carnegie Mellon University and University of Pittsburgh, major retail corridors, business parks, and affluent suburban communities.
Strong Market Fundamentals
Due to Pittsburgh’s challenging topography, and mature regional submarkets, new development is challenging. As such, there is limited to no new supply competition. The current submarket is 94.7% occupied.
Quality Construction
Originally built in 1997, the Property has been professionally managed and maintained. The slab-on-grade, block construction presents investors a high-quality, low maintenance asset.
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