Pearson Partners Secures New Tenant at Pittsburgh Tower

525 William Penn Place. Image courtesy of CBRE

Signature Financial Planning has signed a 10,470-square-foot lease at 525 William Penn Place, a 942,665-square-foot office tower in Pittsburgh. CBRE‘s Senior Vice President Patrick Greene represented the landlord. The local investment advisory firm will relocate to the building’s 34th floor in the fourth quarter of this year.

Originally built in 1951 for U.S. Steel Corp. and Mellon National Bank, the 41-story office property includes 20 passenger elevators, first-floor retail space, as well as floor plates ranging between 22,540 and 24,583 square feet, the same data provider shows. With renovations completed in 2019, the property’s amenity package now includes a common-area lounge, a fitness center, a new lobby and a parking area with valet service.

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Pearson Partners’ investment in high-quality amenities resulted in a hospitality-oriented workplace, while repositioning the skyscraper as a destination for companies focused on the flight-to-quality trend, said Greene, in prepared remarks. Other tenants at the property include Hartzman Law Firm, Citizens Bank and Pollock Begg, according to CommercialEdge. The landlord purchased the property in 2016 for $67.6 million, according to the same data provider.

Situated on a 0.7-acre lot in downtown Pittsburgh’s Mellon Square Park neighborhood, the property is close to Signature’ other offices at One Gateway Center and 1301 Grandview Ave. Close to Interstate 579 and multiple bus and rail stations, the high-rise is 2 miles from South Side Flats, 3.3 miles from South Side Slopes, 8 miles from the 1.3 million-square-foot Ross Park Mall and within 17 miles of Pittsburgh International Airport.