Federated Hermes Tower is a 358-foot-tall (109 m) skyscraper in Pittsburgh, Pennsylvania. The building is part of Liberty Center, a two-building complex which also includes the Westin Convention Center Hotel. It was completed in 1986 and has 27 floors and 530,000 square feet (49,000 m2) of space. It is the 16th tallest building in the city and houses the corporate headquarters of Federated Hermes.
Liberty Center was developed and built by Liberty Center Ventures, a partnership of Forest City Enterprises and Jos. L. Muscarelle, Inc., and opened in December 1986. The $137 million mixed-use complex was the first major development following the Renaissance II burst of construction in downtown Pittsburgh.[1] The entire Liberty Center complex opened in December 1986.[2][3][4][5] The complex was financed from three sources: a $99 million loan from Metropolitan Life Insurance Company, $21 million from the Pittsburgh Urban Redevelopment Authority, and the remainder from Jos. L. Muscarelle, Inc. and Forest City Enterprises.[1]
In August 2013 the tower was sold by Forest City to Starwood Capital Group for $135 million.[6][7][8]
On February 18, 2014, the tower opened the newly relocated downtown post office on the lobby floor.[9]
In January 2017, CBRE Global Investors purchased the Federated Tower for an estimated $98 million. The purchase did not include the adjacent Westin Convention Center Hotel, which was part of the 2013 by Starwood Capital Group.[10][11]
See also
References
- ^ a b Pellegrini, Michael (1987-05-03). "NORTHEAST NOTEBOOK; Pittsburgh: Vacancy Rate In Offices Rises". The New York Times. New York. Retrieved 2019-05-29.
- ^ "The Pittsburgh Press - Google News Archive Search". Retrieved 26 March 2016.
- ^ "Starwood Assumes Management of Pittsburgh Convention Center Hotel Under the Westin Flag" (Press release). Pittsburgh: Hospitality Net. 2001-01-19. Retrieved 2019-05-29.
- ^ "Historic Pittsburgh". Digital.library.pitt.edu. Retrieved 2014-02-19.
- ^ "Westin Convention Center Pittsburgh | Buildings". Pittsburgh /: Emporis. Archived from the original on February 26, 2014. Retrieved 2014-02-19.
- ^ "Forest City completes sale of Liberty Center complex in Pittsburgh" (Press release). PR Newswire. 2 Aug 2013. Retrieved 8 Aug 2013.
- ^ Belko, Mark (22 January 2013), "Liberty Center and Westin hotel up for sale", Pittsburgh Post-Gazette, Pittsburgh
- ^ Belko, Mark (3 January 2013), "Station Square, Downtown Pittsburgh tower for sale", Pittsburgh Post-Gazette, Pittsburgh
- ^ "New Liberty Center Postal Station to open Tuesday, February 18". Retrieved 25 March 2016.
- ^ Murray, Barbra (2017-01-09). "CBRE Global Purchases Prime Pittsburgh High-Rise" (Press release). New York: Commercial Property Executive. Retrieved 2019-07-08.
- ^ Belko, Mark (2017-01-06). "Calif. firm buys Liberty Center". Pittsburgh Post Gazette. Pittsburgh. Retrieved 2019-07-08.
