The $53.5 million sale of the 79 North Industrial & Research Park marks the largest industrial property transaction by dollar value in the Pittsburgh market in recent years. The six-building, 397,440-square-foot property in Sewickley, Pennsylvania, was long considered a bellwether for the region, signaling renewed momentum in local investment activity.
One Liberty Properties, an industrial-focused real estate investment trust, bought the properties from a joint venture of ASB Capital Management and Endurance Real Estate Group. The portfolio was 93% leased to 16 tenants, including Amazon, Linde Gas, Macomb Group and Safelite Fulfillment.
One Liberty President and CEO Patrick J. Callan said the acquisition "delivers immediate critical mass in a high-performing, high-barrier-to-entry submarket."
For helping reignite the region's industrial market and stirring buyer interest in the area, the deal was selected by a panel of local industry professionals for the 2026 CoStar Impact Award for sale/acquisition of the year in Pittsburgh.
About the deal: The net operating income and first-year cap rate for the industrial property is $3.4 million, with annual contractual rent increases ranging from 2% to 3% and potential for additional rent growth as vacancies are filled and leases mark to market upon expiration. The weighted average remaining lease term is 3.3 years.
What the judges said: "This sale will open up some opportunities for smaller groups requiring strong Interstate 79 access," said Patrick Sentner, executive vice president at Colliers.
Nathan Pazsint, senior advisor at SVN Three Rivers Commercial Advisors, added that the presence of key tenants helps ensure long-term sustainability.
They made it happen: Mateo Villa, vice president, and Connor Jangro, associate, at Genfor Real Estate; Brad Ruppel, senior vice president; Michael Hines, executive vice president; and Joe Hill, vice president, at CBRE, represented the seller. Albert Corr, principal of SVP Asset Management at Endurance Real Estate Group, and Joe Marino, senior associate at One Liberty Properties, were also involved in the transaction.