$300M Headquarters Tower Opens
Designed by Gensler, the building is the new home of a major financial services company.
F.N.B. Corp., the holding company for First National Bank, has marked the opening of its new headquarters building in the Lower Hill District of downtown Pittsburgh, the 469,000-square-foot FNB Financial Center. The tower rises 26 stories on about 7 acres on the former site of the Civic Arena.
Employees began moving into the building in November. Currently FNB Financial Center is about 70 percent occupied, with roughly half of that space taken up by FNB. A JLL team led by Market Director JC Pelusi represents ownership in commercial lease negotiations.
Buccini Pollin Group was the lead developer of the building, which was designed by Gensler. Since breaking ground in 2021, the development of FNB Financial Center has generated over $7 million for a Hill District community-directed reinvestment fund and put over $3 million into programs to benefit minority-owned businesses, along with the Hill District Federal Credit Union, according to Buccini Pollin.
The tower features an amenity floor with a fitness center, conference rooms, lounge space and a Wi-Fi-enabled, tenant-only terrace. The bank’s space includes a trading floor for capital markets employees, with a suspended LED stock ticker visible from the building exterior.
READ ALSO: Top 100 Office Leases of 2024 Point to Stabilization
The property has achieved LEED Gold certification, with a number of health- and wellness-oriented features, including floor-to-ceiling windows for natural light and advanced HVAC systems. There is also a ground-floor retail space of 15,000 square feet, with a coffee bar, full-service café and public plazas.
Pittsburgh’s soft office market
In the fourth quarter of 2024, the Pittsburgh market turned in negative net absorption of 109,953 square feet, spurred by losses totaling 142,437 square feet in the central business district, according to JLL data. Much of that was driven by EQT’s downsize at 625 Liberty and FHLB’s departure from 601 Grant St.
Even so, “the completion of FNB Financial Center marked a significant milestone for Pittsburgh’s office market in the fourth quarter,” JLL noted in its market report. “Despite challenging market conditions, the project delivered nearly 70 percent preleased.”
The completion of the building not only changed the downtown Pittsburgh skyline, but it “injected new life” into the Lower Hill District, JLL reported, and will likely be a catalyst for future development in the area.
You must be logged in to post a comment.