The sale of a 25-acre property in Pittsburgh’s West End — dormant for nearly 15 years — is expected to boost local tax revenue and spur economic redevelopment in the city’s Fairywood section.
The property, which includes a 150,000-square-foot warehouse and distribution facility, was sold for nearly $26 million to Chicago-based Becknell Industrial through a partnership of Regional Industrial Development Corporation (RIDC) and the Urban Redevelopment Authority of the City of Pittsburgh (URA).
“RIDC takes on challenging projects that aren’t of interest to commercial developers and redevelops them to attract jobs and economic activity, creating an environment that makes commercial investment in a community more viable,” RIDC President Donald F. Smith Jr said. “We’re proud to have achieved that outcome at this property and feel confident that Becknell will have continued success.”
Becknell Industrial was founded in 1990 and has offices across the country, focused on real estate development, design and construction and long-term asset management.
Susheela Nemani-Stanger, URA executive director, said the sale is a key step to bring economic opportunity to the Fairywood neighborhood and beyond.
“We’re grateful for our continued partnership with RIDC and their commitment to transform this long-vacant site into a driving force for job creation and investment,” Nemani-Stanger said.
RIDC partnered with the URA in 2022 for a $39 million plan to redevelop the site which the authority first acquired in 2011. Previously used for a housing development, the property sat empty after it flooded during Hurricane Ivan.
A new building was constructed by RIDC and leased to plumbing and HVAC distributor Ferguson Enterprises, which brought new jobs and economic activity to the site. About 9.3 acres of property were rehabbed and included as part of the recent transaction.
Mayor Corey O’Connor said developing high-quality job centers is essential to keeping Pittsburgh competitive and attracting new employers. Development will build on the success of the property’s first phase by offering new warehouse and flex distribution space to bring more jobs to the West End, he said.