HaydenMaguire’s purchase of the Amazon fufillment center in Pittsburgh for $52 p.s.f. sends a clear signal of investor interest

1. HaydenMaguire’s purchase sends a clear
signal of investor interest
Pittsburgh
• Less than a year after securing e-commerce giant Amazon to a 252,000-square-foot lease, Rugby Realty
sold the 560,000-square-foot warehouse building at 2250 Roswell Drive for nearly four times what it paid
for it. Philadelphia-based HaydenMaguire Real Estate Funds purchased the building for $29 million or
$52 per square foot. In terms of actual dollars, the sale represents the largest industrial sale in the region
in quite some time. And for Rugby, it’s a major cash-out for a building it bought out of receivership for
$7.4 million less than four years ago after it was left behind by the former furniture retailer Roomful
Express.
Source: JLL Research
Chart of the week: August 24, 2015
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2011 2012 2013 2014 YTD 2015
Industrial sales activity
(bubble size is relative to total sales price)$/SF