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Turnkey Flex for Tech or Light Manufacturing 615 Epsilon Dr

Vacant Flex Building Online Auction Sale Pittsburgh, PA 15238

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Virtual Tour

INVESTMENT HIGHLIGHTS

  • This tech/flex facility has vital utility infrastructure and is ideal for engineering, design, light manufacturing, or high-technology businesses.
  • Industrial space offers a 28’ clear height, a dock door, a 10' by 12’ drive-in, a 5,000-lb freight elevator, 3p power, and Demag and rail cranes.
  • Near VA Medical Center and UPMC St. Margaret, as well as large industrial tenants, including Bayer, American Distribution, & Trufood Manufacturing.
  • Sitting off Route 28, 5 miles from I-76 and 8 miles from downtown, the property is near top amenities and is easily accessible to a large workforce.
  • Dedicated office/tech space includes large open spaces, private offices, spacious conference/meeting rooms, and a pantry and break area.
  • Workers can find national retail brands in 5 mins, including Market District Supermarket, Anytime Fitness, Chick-fil-A, McDonald’s, Chili’s, & more.

EXECUTIVE SUMMARY

615 Epsilon Drive provides a highly versatile tech/flex facility that is ideal for occupiers in Pittsburgh’s high-tech or light manufacturing communities. The fully air-conditioned building has significant utility infrastructure and can accommodate engineering and design functions with light manufacturing space. The building can be subdivided by floor or by a combination of floors, providing optionality for both owner/users and value-add investors seeking a lease upside.

615 Epsilon Drive is a three-level building with a functional office mezzanine consisting of 147,770 square feet situated on 7.74 acres with quality modern features throughout. Upon entering the property, employees and clients are impressed by a bright, three-story atrium with large windows and a reception desk. The building’s first floor comprises 63,746 square feet of premium testing, laboratory, and industrial space with a 28-foot clear height. The space has excellent loading capabilities, with one dock door, a 10-foot by 12-foot drive-in door, a 5,000-pound freight elevator, a 10-ton pendant-controlled Demag crane, and a 7.5-ton rail crane, both with 18-foot hook heights. The second floor measures 23,268 square feet of office and technology space with a mostly open floor plan. The top level spans 60,756 square feet of dedicated offices with a large bullpen, dozens of private offices and breakout rooms, a full pantry and break area, and large meeting or conference spaces. Operations at the property are supported by a 3,000-amp, 3-phase power supply, a wet sprinkler system, a passenger elevator, and on-site parking with 271 surface spaces.

Located 8 miles northeast of the Pittsburgh CBD, 615 Epsilon Drive has immediate access to Route 28 and is 5 miles southwest of Interstate 76 (PA Turnpike) at the Allegheny Valley/Pittsburgh Exit 48. The prime location places businesses within the RIDC Industrial Park, a functional collection of major tenants in manufacturing or distribution fields. The surrounding area is home to vital operations for major industrial tenants, including Bayer, American Distribution, American Beverage, Trufood Manufacturing, and more. Thanks to proximity to the Veterans Affairs Medical Center and UPMC St. Margaret, the area is also an established healthcare hub that has attracted many nearby medical manufacturing businesses. The location can access a strong workforce pipeline, sitting less than 8 miles from both the University of Pittsburgh and Carnegie-Mellon University. The area is also rife with quality shopping, dining, and recreational amenities. Within five minutes, employees can find household name brands, including Market District Supermarket, Anytime Fitness, Barnes & Noble, Ross Stores, Chick-fIl-A, McDonald’s, Chili’s, Jersey Mike’s, and more. Outdoor and golfing enthusiasts can enjoy vibrant green spaces at the nearby Pittsburgh Field Club and Fox Chapel Golf Club, as well as the walkable trails and attractions of Highland Park.

With a highly customizable floorplan ideal for technology or light manufacturing businesses and a great location near major highways, large industrial tenants, and top-quality amenities, 615 Epsilon Drive provides the perfect acquisition to break into or grow in the Pittsburgh market.

DATA ROOM Click Here to Access

MARKET ANALYTICS Click Here to Access

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Market Sale Price per SF

Pittsburgh - PA USA

Market Cap Rate

Pittsburgh - PA USA

Market Sale Price per SF by Star Rating

1 - 2 Star

3 Star

4 - 5 Star

Market Cap Rate by Star Rating

1 - 2 Star

3 Star

4 - 5 Star

Market Sale Price per SF Distribution

Market Cap Rate Distribution

PROPERTY FACTS

Sale Type Investment
Sale Condition Auction Sale
Type of Ownership Fee Simple
Property Type Flex
Property Subtype Light Manufacturing
Building Class B
Lot Size 7.76 AC
No. Stories 3
Year Built/Renovated 1991/2005
Parking Ratio 1.83/1,000 SF
Clear Ceiling Height 28’
No. Dock-High Doors/Loading 1
No. Drive In / Grade-Level Doors 1

AMENITIES

  • Property Manager on Site
  • Air Conditioning

UTILITIES

  • Gas - Natural
  • Water - City
  • Sewer - City
  • Heating

SPACE AVAILABILITY

  • SPACE
  • SIZE
  • SPACE USE
  • CONDITION
  • AVAILABLE
  • 1st Fl - 100
  • 63,746 SF
  • Flex
  • Partial Build-Out
  • Now

Consisting of office/testing/lab/industrial space.

  • 2nd Fl-Ste 200
  • 23,268 SF
  • Office
  • Partial Build-Out
  • Now

23,268 square feet of space for lease, which can be leased separately.

  • 3rd Fl-Ste 300
  • 60,756 SF
  • Office
  • Full Build-Out
  • Now

60,756 square feet of space on the third floor. This can be subdivided.

Space Size Space Use Condition Available
1st Fl - 100 63,746 SF Flex Partial Build-Out Now
2nd Fl-Ste 200 23,268 SF Office Partial Build-Out Now
3rd Fl-Ste 300 60,756 SF Office Full Build-Out Now

1st Fl - 100

Size
63,746 SF
Space Use
Flex
Condition
Partial Build-Out
Available
Now

2nd Fl-Ste 200

Size
23,268 SF
Space Use
Office
Condition
Partial Build-Out
Available
Now

3rd Fl-Ste 300

Size
60,756 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

1st Fl - 100

Size 63,746 SF
Space Use Flex
Condition Partial Build-Out
Available Now

Consisting of office/testing/lab/industrial space.

2nd Fl-Ste 200

Size 23,268 SF
Space Use Office
Condition Partial Build-Out
Available Now

23,268 square feet of space for lease, which can be leased separately.

3rd Fl-Ste 300

Size 60,756 SF
Space Use Office
Condition Full Build-Out
Available Now

60,756 square feet of space on the third floor. This can be subdivided.

ABOUT NORTHEAST PITTSBURGH

Northeast Pittsburgh is among metropolitan area’s largest industrial nodes and is home to nearly 19 million square feet of industrial space. Healthcare, education, and manufacturing are top industries in the region, and some of the largest employers here are UPMC, University of Pittsburgh, and United States Steel. Accessible via major highways such as interstates 76 and 79, North Pittsburgh is just a 20-minute drive to the Pittsburgh International Airport.

The area’s sought-after suburbs and proximity to downtown Pittsburgh make it an attractive location for young professionals and families alike. Employers in Northeast Pittsburgh have access to the region’s top talent, with proximity to several higher education institutions such as Carnegie Mellon University and University of Pittsburgh.

Accessibility and mid-level rents make Northeast Pittsburgh an attractive location for industrial tenants. Demand is consistent in the area, and the availability rate is among the tightest in the Pittsburgh market. The area’s healthy industrial market has consistently drawn investors to the area, and sales over recent quarters have hit record levels.

DEMOGRAPHICS

REGIONAL ACCESSIBILITY

50 Miles 50 Mi. 100 Miles 100 Mi. 500 Miles 500 Mi.
CITY
POPULATION
MILES
DRIVE TIME
Columbus
892,533
198
3 h 60 m
Philadelphia
1,584,138
304
5 h 48 m
Indianapolis
867,125
369
7 h 9 m
New York
8,398,748
391
7 h 24 m
Charlotte
872,498
461
8 h 46 m
Chicago
2,705,994
469
8 h 44 m
ACCESS AND LABOR FORCE
10 MILES
Total Population
714,157
Total Labor Force
383,425
Unemployment Rate
4.22%
Median Household Income
$62,236
Warehouse Employees
45,131
High School Education Or Higher
94.90%

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
0226-P-00060-0000-00
Land Assessment
$3,171,400
Improvements Assessment
$5,005,900
Total Assessment
$8,177,300

ZONING

Zoning Code SM (Suburban manufacturing)
SM (Suburban manufacturing)

SALE ADVISOR

SALE ADVISOR

(412) 434-1053
Contact
Louis Oliva, Executive Managing Director, CCIM, SIOR
(412) 434-1053
Contact
Mr. Oliva joined Newmark in the Pittsburgh office in 1986. Mr. Oliva is widely recognized as one of the top producing industrial specialists locally as well as nationally. He has been directly involved in the sale or lease of over 75 million square feet of office/industrial property; and over 60 million square feet of land sales/development totaling over $1,000,000,000 in volume. Mr. Oliva’s client roster includes The Elmhurst Group, Barnett Capital, Imperial Land Corporation, Chaska Property Advisors, United Parcel Services, Cameron and Stag Industrial.

His particular skills in strategy development, negotiation and transaction portfolio management for companies across the country have resulted in his highly successful career. Consistently named to The Circle of Excellence, which is awarded to the Top 100 Producers at the firm throughout the nation, he is also a member of the President’s Council which recognizes both top production and leadership in the real estate industry.

In addition to his professional practice, Mr. Oliva has served in leadership positions for numerous national, local and regional professional and non-profit organizations including the Society of Industrial and Office Realtors (SIOR), where he was President of the Western Pennsylvania Chapter (2000 – 2001) and served on the Western PA Chapter Board of Directors from 1993-1999; is a past Board of Director (1997-1998) for the National Association of Industrial and Office Properties (NAIOP) and was President of the Pittsburgh Chapter of NAIOP in 1996-1997. He was re-appointed to the NAIOP Pittsburgh Board of Directors in 2005 and continues to serve in that position. In 2007, Mr. Oliva was inducted into the NAIOP Pittsburgh Hall of Fame for his numerous contributions to the Chapter.

Mr. Oliva is currently a member of the Board of Directors for the Regional Industrial Development Corporation and is a member of its Real Estate Committee.

A native of Pittsburgh, Mr. Oliva is a 1982 honors graduate of Carnegie Mellon University with a Bachelor of Science Degree in Administration & Management Science.

In 1990, Mr. Oliva received the Certified Commercial - Investment Member (CCIM) designation from The Realtors National Marketing Institute recognizing investment education and production achievement.

In 1995, Mr. Oliva was accepted as a member of the Society of Industrial and Office Realtors (SIOR), recognizing superior production levels and experience in industrial real estate transactions.

In addition, he is a graduate of Leadership Pittsburgh Class XVI in 2000.

ABOUT THE AUCTION PLATFORM

Ten-X Commercial is the leading end-to-end digital transaction platform for commercial real estate. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
Read More

AUCTION CONTACT

Kevin Loudy
Auctioneer License: Ten-X Arlene Richardson RE Broker RB068364. Ten-X Commercial Auction Firm AY002443, Auctioneer Arlene Richardson AU006275
  • Listing ID: 33676932

  • Date on Market: 10/29/2024

  • Last Updated:

  • Address: 615 Epsilon Dr, Pittsburgh, PA 15238

Transaction Fee Schedule
Based on Percentage of Winning Bid Amount.
Winning Bid Amount Transaction Fee
$0m to < $1m 5.00% ($20,000 min)
$1m to < $3m 3.00%
$3m to < $5m 2.50%
$5m to < $10m 2.25%
$10m to < $15m 2.00%
$15m to < $25m 1.75%
$25m to < $35m 1.50%
$35M to < $45M 1.00%
$45M to < $55M 0.75%
$55M and Up 0.50%
Example Calculation
Winning Bid Amount $4,000,000 Transaction Fee $100,000 (2.5%) Total Purchase Price $4,100,000

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