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More For Sale Signs Go Up In Downtown Pittsburgh

January 12, 2011

Two more Downtown Pittsburgh office buildings are up for sale.

New York-based Rugby Realty is selling the former Westinghouse Building at 11 Stanwix St. and the former Manor Building at 564 Forbes Ave.

Aaron Stauber, president of Rugby Realty, said the decision to sell both is a "reflection of the growing strength of the Downtown Pittsburgh real estate market."

He said that in the last quarter of 2010, Pittsburgh, New York and San Francisco saw the biggest increases in average rents for office space.

Rugby has owned the 24-story former Westinghouse building since 2008. It is currently 94 percent occupied. Last year Rugby spent more than $4 million making the building greener and more energy efficient.

The company has owned the former Manor Building since 2005. It bought the building when it was less than 60 percent occupied. It has improved that to more than 97 percent occupied.

The properties join a number of other Pittsburgh buildings on the sales block, including the Macy's department store on Smithfield Street, the Gateway Center office complex, the Oliver Building, and the former Alcoa Building, now known as the Regional Enterprise Tower. The U.S. Steel Tower, the city's tallest building, also may go up for sale.

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