6135-6145 Penn Ave

JLL, as the exclusive representative for the Owner, is pleased to present this Offering for the sale of 6135 - 6145 Penn Avenue (the Property”), which consists of ± 11,200 square feet of land on one (1) parcel on the corner of Penn Avenue and Center Avenue. The Property is strategically located at the epicenter of the vibrant East Liberty neighborhood of Pittsburgh near Bakery Square, UPMC Shadyside Hospital, UPMC Children’s Hospital, and the East Liberty Transit Center.
The Property is within walking distance to Bakery Square, Whole Foods, Giant Eagle, Trader Joe’s, Target, Hotel Indigo, and much more. Furthermore, Penn Avenue and Center Avenue are the primary thoroughfares conveniently connecting the site to Oakland, the Strip District, Lawrenceville, and Downtown.
Highwoods Properties (the “Owner”) purchased the Property in 2019 to develop a landmark Class A office property with proximity to Carnegie Mellon University and the University of Pittsburgh. The Owner was able to secure a special exception and variances for height, parking, and FAR specifications from the Zoning Board. To preserve its ZBA approvals, prior to September 1, 2023, an Owner should obtain the necessary building permits and begin some physical activity at the site to “initiate” the project. Initial work could include, for example, pouring foundation, and should be more than simply moving dirt or parking construction vehicles at the site. 100% construction drawings were completed by AE7 and may be available for the potential buyer.
The Property is currently zoned UNC (Urban Neighborhood Commercial District) with development rights granted under awarded variances and a special exemption for a Floor Area Ratio of 5:5:1 and a maximum height of 92 feet (6-stories). The awarded zoning variances and special exception expire on September 1, 2023.