Boston-based WS Development is allegedly in discussions to acquire Station Square, a premiere mixed-use property in Pittsburgh, according to an article from the Pittsburgh Business Times.
This developer, known for its thriving portfolio of urban mixed-use projects, could add the 650,000-square-foot property—containing offices, restaurants, and attractions—to its portfolio, which already includes more than 22 million square feet across the country.Â
The present owners of Station Square are affiliates of Brookfield Properties, who faced a foreclosure action seeking a debt balance of around $143 million just last November. While the property has been affected by several key restaurant closures, it remains a strategic local landmark across the river from downtown. In addition to its dining spots, it serves as headquarters to Fortune 500 company WESCO International Inc. and video game development studio Schell Games.
The final details are still to be confirmed as WS Development would need approval from the group of leaders who initiated the foreclosure action in the Allegheny County Court of Common Pleas. Still, if the deal comes together it would give WS Development a connection between Boston and Pittsburgh.Â
This report was originally published in the Pittsburgh Business Times. For more information, visit this link (requires subscription): Â Boston development firm working to buy Station Square.
Ready to put your Pittsburgh area business on the map?
Across Pittsburgh is the premier online destination for locals and visitors seeking the best of Pittsburgh and its surrounding areas. By featuring your business on our platform, you'll gain increased visibility, attract new customers, and connect with a passionate community of Pittsburgh enthusiasts. Don't miss this opportunity to showcase your unique offerings and drive growth!
Feature Your Business Today!
