Parkway Center (LNR) - Credit — Sale in Pittsburgh, PA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Office
  • Location: Pittsburgh, PA
  • Size: 244,408 SF

Photos

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Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to present this opportunity to purchase the fee simple interest in Buildings 4, 9, and 10 of Parkway Center (the “Properties” or “Portfolio”), a 244,000 square foot credit tenant office portfolio. The Portfolio is currently 88% occupied with a 15.2-year WALT and anchored by four (4) mission-critical, investment grade credit tenants, including Quest Diagnostics, and three Allegheny County departments – Pennsylvania Family Division, Department of Human Services, and Police Department. 98% of the rental income is attributed to these investment grade tenants. The defining characteristic of this three-building Portfolio is the significant capital investment to develop nearly 212,000 square feet of mission critical space for the four investment grade credit tenants who occupy 99% of the leased area. Additionally, the Property’s strategic location, approximately 3 miles from Downtown Pittsburgh and 20 minutes from Pittsburgh International Airport, combined with direct access to I-376 via a dedicated exit, positions it as an exceptionally accessible office destination in one of the region’s most connected submarkets. This opportunity is further enhanced by the ability to acquire the Portfolio at a discounted basis, offering compelling value relative to the substantial capital improvements and quality tenant roster in place.

Market Context

This office in Pittsburgh, PA is listed for sale across 244,408 SF. Compare it against other office listings for sale in Pittsburgh, PA — view the full market.

As of Q2 2026, the Pittsburgh office market showed a 17.5% vacancy rate, and average asking rents near $26.98/SF/yr. Source: multiple brokerage reports, Q2 2026.

Above-average vacancy gives buyers leverage and a wide set of comparables.

Office market FAQ

Is the Pittsburgh office market tightening or softening?
Vacancy is around 17.5% (Q2 2026).

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