The portfolio will be listed for sale without a formal askingprice. However, an HFF source gives GlobeSt.com a ballpark figureof "in excess of $200 per sf," which by our calculation could equalmore than $90 million. Asking rents there are $25 per sf, thesource says.

The source says the four-building portfolio is 100% leased, andconsists of the 106,435-sf 500 Cranberry Woods, the 119,444-sf 600Cranberry Woods, the 107,033-sf 700 Cranberry Woods and the120,001-sf 800 Cranberry Woods. Tenants include WestinghouseElectric, Cellco/Verizon and McKesson. The office park is also thehome of the world headquarters of Mine Safety Appliance and, asGlobeSt.com reported last year, will be the location ofWestinghouse Electric's new 975,000-sf worldheadquarters.

The facility will occupy 80 acres at Cranberry Woods and isscheduled for completion in 2010. As previously reported onGlobeSt.com, the choice of Cranberry Woods followed a review ofpotential locations in Connecticut, Maryland, Virginia, North andSouth Carolina and Georgia in addition to expansion of its existing535,000-sf Monroeville facility in neighboring AlleghenyCounty.

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Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.