PITTSBURGH, November 28, 2022 – Cushman & Wakefield announced today that the firm has represented First Commonwealth Bank in its $4.4 million sale of the bank’s former Wexford, Pennsylvania, office building.
Michael Sell, CCIM, represented First Commonwealth in the transaction with an undisclosed buyer. The sale achieved $197 per square feet, the largest price per square foot for a vacant office property in Wexford.
“First Commonwealth’s former Wexford office offered a great, central location in an affluent Pittsburgh suburb,” said Sell, a Director in Cushman & Wakefield’s Capital Markets group. “Prospective investors were intrigued by the quality of the existing building, its flexible options and the quality of the surrounding area, all of which drove a competitive bidding process.”
Located 1001 Village Run Road in Wexford’s primary medical and retail corridor, the building totals 22,350 square feet and was developed in 2000. The property includes an in-place drive-thru and new HVAC, roof and LED lighting.
First Commonwealth Bank has since built a new retail branch on Route 19 at 12449 Perry Highway in Wexford to best serve the community’s personal and business banking customers. Access this link to download a high-res image of 1001 Village Run Road.