Federated Tower facts for kids
Quick facts for kids Federated Tower |
|
|---|---|
Federated Tower, rising above the David L. Lawrence Convention Center
|
|
| General information | |
| Type | Office |
| Location | 1001 Liberty Avenue |
| Coordinates | 40°26′40″N 79°59′39″W / 40.44444°N 79.99417°W |
| Construction started | 1985 |
| Completed | 1986 |
| Owner | CBRE Global Investors |
| Management | CBRE Group |
| Height | |
| Roof | 358 ft (109 m) |
| Technical details | |
| Floor count | 27 |
| Floor area | 530,000 |
| Design and construction | |
| Developer | Liberty Center Ventures |
The Federated Tower is a very tall building, also known as a skyscraper, located in Pittsburgh, Pennsylvania. It stands at 358 feet (109 meters) high. This impressive building is part of a larger area called Liberty Center.
Liberty Center is a complex that includes two main buildings. Besides the Federated Tower, it also features the Westin Convention Center Hotel. The Federated Tower was finished in 1986. It has 27 floors and a huge amount of space, about 530,000 square feet. It's currently the 16th tallest building in Pittsburgh. The tower is home to the main offices for a company called Federated Investors.
Contents
Building a Landmark: Liberty Center
The entire Liberty Center complex was a big project. It was developed and built by a group called Liberty Center Ventures. This group was a partnership between two companies: Forest City Enterprises and Jos. L. Muscarelle, Inc. The complex officially opened its doors in December 1986.
This development was quite important for downtown Pittsburgh. It was the first major building project after a period of growth known as Renaissance II. The total cost for the Liberty Center complex was about $137 million. Money for the project came from a few different places. A large loan came from Metropolitan Life Insurance Company. The Pittsburgh Urban Redevelopment Authority also helped with funding. The rest of the money came from the two companies that developed it.
Changes in Ownership
Over the years, the Federated Tower has changed owners a few times. These changes are common for large buildings as different companies buy and sell properties.
Starwood Capital Group Buys the Tower
In August 2013, the Federated Tower was sold by Forest City. A company called Starwood Capital Group bought the tower for $135 million. This was a significant sale in the Pittsburgh real estate market.
New Post Office Opens
A cool new feature was added to the tower in 2014. On February 18, 2014, a new downtown Post Office opened on the lobby floor of the Federated Tower. This made it easier for people in the area to send mail and packages.
CBRE Global Investors Takes Over
In January 2017, the Federated Tower was sold again. This time, CBRE Global Investors purchased the building. They bought it for an estimated $98 million. It's important to know that this purchase only included the Federated Tower itself. The nearby Westin Convention Center Hotel was not part of this deal. That hotel had been part of the 2013 sale to Starwood Capital Group.
