Seagate Technology

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In 2008, Seagate Technologies determined that it was in its best interest to relocate its worldwide headquarters for research, approximately 200,000 square feet, to California and other areas, ceasing its Pittsburgh operations.  As the primary tenant in this class A office and research building constructed as a build-to-suit in 2002, Seagate was left with the responsibility of subleasing the majority of the building through its term ending in 2017.

APPROACH

  • Because the property was constructed as a build-to-suit primarily for a single tenant, sub-dividing for users requiring less than a floor – approximately 40,000 SF – was challenging. Thus, high volume users, particularly those with possible lab requirements have been targeted.
  • Elaborate marketing materials were developed to support leasing efforts, including a dedicated website solely for this property
  • Communicated the available space to the Pittsburgh regional brokerage community and work through Cushman & Wakefield, SIOR and other professional real estate organizations to publicize the state-of-the-art facility
  • Worked with local economic development and technology groups to attract technology-based tenants to the available space
  • Worked with local, regional and state level political representatives to attract and coordinate possible funding opportunities for the renovation of the building

RESULTS

GSA has successfully secured two tenants on long-term leases to fulfill the sublease term and are in negotiations with additional tenants to take the remaining space in the building

  • SmartOps Corporation – 20,000 SF
  • Liberty Tire Recycling LLC – 40,000 SF
  • Date: 2008-2017
  • Client: Seagate Technology
  • Square Footage: 200,000 SF

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