Press Release

Murland Associates LP and CBRE Announce New Office and Retail Building in Heart of Oakland

24 1月 2018

Forbes Building Rendering Pittsburgh

The Murdoch Building at 3420 Forbes Avenue, presently surface parking at the intersection of Coltart Avenue and Forbes Avenue in Oakland, is breaking ground on the construction of a new LEED designed 8 story office over retail building on January 31, 2018. The building is currently scheduled to be substantially complete in 2Q 2019.

The property owner, Murland Associates LP, is a family-owned real estate company whose history of working in Pittsburgh can be traced back 7 generations to John Murdoch (the namesake of Murdoch Farms) in the early 19th century.

Molly Finnell, a principal with Murland was proud to announce "the exciting next phase of our family's long-term relationship with the Oakland neighborhood."

JMAC Architects is designing the new structure. Dunham reGroup LLC is Murland's representative and development consultant for the project. The general contractor is Mascaro Construction Company.

The University of Pittsburgh has leased the top four floors of the to-be-constructed building. CVS Pharmacy will relocate from their current store one block away to lease the street-level retail space at the new Murdoch Building.

CBRE is marketing the new property's remaining available office space on floors 2-4. According to Jeremy Kronman, Executive Vice President at CBRE, "The building will satisfy a need in the market that is currently not being met - which is new high quality office space right in the walkable heart of Oakland." Kronman continued, "A lot of the economic activity centered around the universities and hospitals has historically had to make due with Class B office space or a non-Oakland location. This building will allow world class companies to get best in class office space right in the middle of Pittsburgh's university sector."

The total available office space is approximately 35,000 square feet. The entire building will be roughly 95,000 square feet and feature on-site parking, bicycle storage, lockers & showers, rooftop patios, and electric car charging.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.