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100 East Commons

Updated Dec 4, 2024

Shikun & Binui USA Expands Into Larger 40,000-Square-Foot Office At Nova Place In Pittsburgh
LEASEDOffice

Shikun & Binui USA Expands Into Larger 40,000-Square-Foot Office At Nova Place In Pittsburgh

100 East Commons

Building Size

40,000 SF

Asset Type

Office

Closing

Sep 27, 2023

About this deal

AI

Israeli construction firm Shikun & Binui USA (S&B USA) has expanded into a larger office space at Nova Place on the North Side of Pittsburgh. Previously occupying a 29,000-square-foot space, S&B USA now leases a spacious 40,000-square-foot office, aiming to enhance talent recruitment and support their growing presence in the Pittsburgh area.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: Not specified
  • Square Footage: 40,000
  • Address: 100 South Commons, Pittsburgh

This move comes as S&B USA secures significant infrastructure projects, reflecting their commitment to the region. The expanded office signifies their growth and serves as a strategic base for their operations in Pittsburgh. With this relocation, S&B USA aims to further consolidate their expertise in the construction industry and support ongoing development initiatives in the area.

Players

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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