Mexican equity fund buys Southpointe office building
February 7, 2018
Pittsburgh Business Times
The Aztec Fund Inc. has bought 501 Technology Drive, a Class A office building in Southpointe.
Holliday Fenoglio Fowler LP, which marketed the building on behalf of the seller, an affiliate of Laurus Corp., announced the transaction on Tuesday, but did not disclose financials.
The 98,314-square-foot office building is situated on 8.5 acres within the Southpointe Office and Industrial Park, about 20 miles south of downtown Pittsburgh. The Business Times reported last September that it was up for sale.
Completed in 2000, the 3-story property is fully leased. Tenants include Primetals Technologies and Siemens.
HFF (NYSE:HF) senior managing director Mark Popovich, who led the marketing effort, said this acquisition marks Aztec’s initial entry into the Pittsburgh market. Aztec is a Mexican equity fund that invests in commercial and industrial properties in the U.S.