STREAM Brokers $23.7 Million Two-Office Portfolio Sale in Pennsylvania
CHICAGO, IL – October 3, 2018 – STREAM Capital Partners, LLC, a national net lease and sale leaseback advisory group, has closed the $23.7 million Class A office portfolio sale net leased to GAI Consultants located in Pennsylvania.
The 113,300 square-foot, three-building portfolio is located at 385 & 395 East Waterfront Drive in Homestead and 203 West Weber Avenue in DuBois. The lease is structured as an Absolute NNN with less than 15 years remaining. Phil DiGennaro, Ryan Smeele, Jordan Shtulman, and Jonathan Wolfe of STREAM Capital Partners represented the seller on the transaction.
“The GAI Office Portfolio sale was driven by a long-term absolute NNN lease. The private buyer was in a large 1031 exchange and was drawn to the company’s headquarters location outside of Pittsburgh,” said DiGennaro.