Chicago investor putting $10 million into Canonsburg industrial building
April 13, 2018
Pittsburgh Business Times
Chicago-based real estate investment firm T2 Capital Management is ready to pursue a $10 million renovation of a 130,583-square-foot industrial building in Canonsburg with a Fortune 500 company lined up as a tenant.
The property is 135 Meadow Lane, an industrial shed on more than seven acres that's more than 100 years old and at one time was used as a facility in which the Fort Pitt Bridge was assembled.
With 18-inch-thick concrete floors, 30-foot ceilings and 12 truck bays, the building will be redeveloped into the Canonsburg Distribution Center, according to an announcement by T2 Capital Management. The company plans to invest in a new mechanical system, electrical and plumbing along with LED lighting and a new sprinkler system.
T2 Management has leased more than 50,000 square feet in the building to Anixter, a publicly traded electrical distributor based in Illinois.
T2 is working with Fukui Architects, Gateway Engineers and P2 Contracting on the redevelopment, which is the firm's first in Pennsylvania.
The company expects to complete the redevelopment by September of this year.