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The deal for the 96,000-square-foot complex within the East Gate Business Park was reported by Colliers International's Mount Laurel office, which represented the seller.
The 26,174-square-foot property is fully leased by Allegheny Health Network, a subsidiary of Highmark Health Inc. No financial terms of the transaction were released.
The funding will allow Channellock to build a 35,000-square-foot addition to the company's existing 64,427-square-foot manufacturing facility in Meadville.
CBRE managed planning, site selection, procurement, preparation, landlord approvals, permitting, installation, activation and closeout at 215 workplace and multifamily buildings across 11 states.
Citizens Bank, through its Community Development Group, also reports it has provided $36.5 million in construction loans for three affordable housing projects in Massachusetts.
The plan includes the first residential development in the area between PNC Park and Heinz Field, new green space, and a new privately-constructed parking garage, city officials say.
The chosen developer will design, build, and maintain a sustainable, mixed-use development consistent with DRWC guidelines. Teams are invited to respond to the RFP to develop one or both sites by Feb. 7, 2020.