Tempus Realty Partners, an Arkansas-based real estate investment partnership, has acquired a Class A+ office and retail property in Pittsburgh’s Strip District for $43.75 million.
Originally constructed as a warehouse, the property covers 94,580 square feet of office space and 31,405 square feet of retail. The property is fully leased to the autonomous vehicle technology company Aurora Innovation, with three retail tenants: Balverna, an Argentine-style brasserie; Orr’s Jewelers, a jewelry retailer; and Design Within Reach, a modern furnishings brand.
“With office valuations currently below even the lows of the Great Financial Crisis, we see a compelling window for strategic investment,” said Dan Andrews, CEO of Tempus Realty Partners. “As more companies return to in-person work and prioritize high-quality environments for their teams, demand for top-tier office space is clearly on the rise.”
