The Millcraft Office Center | 90 W Chestnut St
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The Millcraft Office Center 90 W Chestnut St
136,683 SF 68% Leased Office Building Washington, PA 15301 $9,791,000 ($72/SF) 9% Cap Rate
Investment Highlights
- MULTIPLE STRONG CREDIT TENANTS SUCH AS UMPC, & COMMONWELATH OF PA DEPT. OF HUMAN SERVICES
- STRONG ANNUAL RENT INCREASES FROM OVER HALF THE TENANTS
- OFFICE IS LOCATED IN THE HEART OF DOWNTOWN WASHINGTON
- MILLCRAFT CENTER IS THE SECOND TALLEST BUILDING IN WASHINGTON INVESTMENT OFFERS VALUE-ADD OPPORTUNITIES TO INCREASE RETURNS
- MULTIPLE LONG-TERM TENANTS HAVE LEASED SPACE BEFORE 2000
- OVER 100,000 PEOPLE RESIDE WITHIN A 10- MILE RADIUS OF BUILDING
Executive Summary
Marcus & Millichap is pleased to present The Millcraft Center, a 136,683-square-foot mixed-use building located in the heart of downtown
Washington, Pennsylvania. As one of the tallest and most iconic buildings in downtown Washington, The Millcraft Center features a main tower standing 9 stories tall, complemented by a 3-story annex. Built in 1977, the property is currently 68.28% occupied, with a diverse mix of over 30 tenants, including both national and local businesses. These tenants represent a broad spectrum of industries such as healthcare, finance, real estate, law, and government services. Notable tenants include UPMC, the Commonwealth of Pennsylvania Department of Human Services, Orkin, Washington Drug & Alcohol Commission, and Liberty Dialysis (DBA Fresenius Health Care).
This investment opportunity offers significant upside potential by leasing out vacant spaces, making it an attractive prospect for investors looking to enhance value.
Location and Accessibility: The Millcraft Center is centrally located in downtown Washington, providing convenient access for both local residents and commuters. Surrounded by a variety of small-town restaurants and bars, it is also close to several national retailers like CVS, Pizza Hut, Goodwill, Veterans Affairs, AutoZone, and Walgreens. With approximately 10,000 vehicles passing by each day, the building enjoys high visibility. Furthermore, more than 100,000 people reside within a 10-mile radius, offering a strong local customer
base. Washington itself is just 28 miles southwest of downtown Pittsburgh and 16 miles east of West Virginia, making it a strategically positioned location. The area boasts a robust demographic profile within the same 10-mile radius.
Tenant Mix and Recent Activity: The property has seen a surge in interest, with multiple new leases and lease extensions, underscoring its growing appeal to tenants and workers alike. The combination of a diverse tenant mix, excellent location, and significant leasing potential positions The Millcraft Center as a prime investment opportunity with considerable growth prospects.
Washington, Pennsylvania. As one of the tallest and most iconic buildings in downtown Washington, The Millcraft Center features a main tower standing 9 stories tall, complemented by a 3-story annex. Built in 1977, the property is currently 68.28% occupied, with a diverse mix of over 30 tenants, including both national and local businesses. These tenants represent a broad spectrum of industries such as healthcare, finance, real estate, law, and government services. Notable tenants include UPMC, the Commonwealth of Pennsylvania Department of Human Services, Orkin, Washington Drug & Alcohol Commission, and Liberty Dialysis (DBA Fresenius Health Care).
This investment opportunity offers significant upside potential by leasing out vacant spaces, making it an attractive prospect for investors looking to enhance value.
Location and Accessibility: The Millcraft Center is centrally located in downtown Washington, providing convenient access for both local residents and commuters. Surrounded by a variety of small-town restaurants and bars, it is also close to several national retailers like CVS, Pizza Hut, Goodwill, Veterans Affairs, AutoZone, and Walgreens. With approximately 10,000 vehicles passing by each day, the building enjoys high visibility. Furthermore, more than 100,000 people reside within a 10-mile radius, offering a strong local customer
base. Washington itself is just 28 miles southwest of downtown Pittsburgh and 16 miles east of West Virginia, making it a strategically positioned location. The area boasts a robust demographic profile within the same 10-mile radius.
Tenant Mix and Recent Activity: The property has seen a surge in interest, with multiple new leases and lease extensions, underscoring its growing appeal to tenants and workers alike. The combination of a diverse tenant mix, excellent location, and significant leasing potential positions The Millcraft Center as a prime investment opportunity with considerable growth prospects.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Pro forma - 2025) Click Here to Access |
Annual | Annual Per SF |
---|---|---|
Gross Rental Income | $99,999 | $9.99 |
Other Income | $99,999 | $9.99 |
Vacancy Loss | $99,999 | $9.99 |
Effective Gross Income | $99,999 | $9.99 |
Taxes | - | - |
Operating Expenses | - | - |
Total Expenses | $99,999 | $9.99 |
Net Operating Income | $99,999 | $9.99 |
Financial Summary (Pro forma - 2025) Click Here to Access
Gross Rental Income | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Other Income | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Vacancy Loss | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Effective Gross Income | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Taxes | |
---|---|
Annual | - |
Annual Per SF | - |
Operating Expenses | |
---|---|
Annual | - |
Annual Per SF | - |
Total Expenses | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Net Operating Income | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment or Owner User
Sale Condition
High Vacancy Property
Property Type
Office
Building Size
136,683 SF
Building Class
B
Year Built/Renovated
1977/2024
Price
$9,791,000
Price Per SF
$72
Cap Rate
9%
NOI
$881,169
Percent Leased
68%
Tenancy
Multiple
Building Height
9 Stories
Typical Floor Size
15,187 SF
Slab To Slab
12’
Building FAR
1.93
Lot Size
1.63 AC
Zoning
BID - Business improvement District
Parking
155 Spaces (1.13 Spaces per 1,000 SF Leased)
Amenities
- Conferencing Facility
- Property Manager on Site
- Security System
MAJOR TENANTS Click Here to Access
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Accountmaster Inc
- -
- 99,999 SF
- -
- -
- -
- Career Link
- -
- 99,999 SF
- -
- Lorem Ipsum
- -
- Commonwealth of PA Dept. of Human Services
- -
- 99,999 SF
- -
- Lorem Ipsum
- -
- Commonwealth of PA Workers Compensation
- -
- 99,999 SF
- -
- -
- -
- Liberty Dialysis
- -
- 99,999 SF
- -
- Lorem Ipsum
- -
- Washington Drug & Alcohol Commission Inc
- -
- 99,999 SF
- -
- Lorem Ipsum
- -
Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
Accountmaster Inc | - | 99,999 SF | - | - | - | |
Career Link | - | 99,999 SF | - | Lorem Ipsum | - | |
Commonwealth of PA Dept. of Human Services | - | 99,999 SF | - | Lorem Ipsum | - | |
Commonwealth of PA Workers Compensation | - | 99,999 SF | - | - | - | |
Liberty Dialysis | - | 99,999 SF | - | Lorem Ipsum | - | |
Washington Drug & Alcohol Commission Inc | - | 99,999 SF | - | Lorem Ipsum | - |
Walk Score ®
Very Walkable (86)
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The Millcraft Office Center | 90 W Chestnut St
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