TDC’s revitalization of the 500,000-square-foot, landmark launches its second century of excellence
Pittsburgh, PA (October 31, 2017) – Approximately one year after The Davis Companies (TDC) unveiled the reimagined Union Trust Building, a 500,000-square-foot architectural landmark designed and constructed in 1915 and located at 501 Grant Street in the heart of Pittsburgh’s Mellon Square, the firm has announced that Buchanan Ingersoll & Rooney (Buchanan), a renowned, national multi-practice and full-service law and government relations firm, has executed a lease and is the latest company to make a substantial commitment to the building with an approximately 142,000-square-foot lease.
Buchanan will be the building’s largest tenant when it takes occupancy in October 2019. The firm joins the building’s impressive tenant roster which currently includes: Truefit, a Pittsburgh-based software technology innovation firm; distinguished national law firms Blank Rome, Pepper Hamilton, Frost Brown Todd, and Marshall Dennehey Warner Coleman & Goggin; Nokia Corporation, a global communications technology company; Carnegie Learning, an organization dedicated to improving math learning through a combination of textbooks, adaptive software, and professional development services; Union Standard, acclaimed Pittsburgh Chef Derek Stevens’ first solo venture; Eddie V’s, a nationally renowned seafood restaurant; and Freshii, a health and eco-conscious fast-casual eatery.
“With its storied past and breathtakingly beautiful architecture, The Union Trust Building has been a critical part of Pittsburgh’s urban fabric since its opening in 1917. Like all current and former Pittsburghers, I have marveled at the building’s stunning design and potential for years. It is tremendously fulfilling to realize TDC’s vision of transforming the property into a lively community asset,” said Pittsburgh native and The Davis Companies Founder and CEO Jonathan G. Davis. “Like Pittsburgh itself, The Union Trust Building has experienced a true renaissance and it is once again a symbol of the City’s success. It has become a beacon for the community with lots of fantastic food choice, incredible artwork, magnificent aesthetics, modern infrastructure and irreplaceable architecture like the 12 story rotunda and Tiffany glass dome. It is truly captivating. We welcome our new anchor tenant, Buchanan Ingersoll, as the building commences its second century of excellence.”
In June 2016, TDC marked the completion of a $100 million restoration, through which they retained the property’s unique architectural features and historic charm while redefining its future as a 21st century, LEED® certified, mixed use retail/office complex with state-of-the- art amenities and 28 original Pittsburgh-inspired works of art. One year later, the building is home to a diverse mix of flourishing, well-known tech, corporate, law, and retail companies, contributing to Mellon Square’s vitality as a business destination in Pittsburgh.
“We are thrilled to make our move into the Union Trust Building official and we look forward to designing a truly exciting and cutting edge office that best serves our clients,” said Joseph A. Dougherty, Buchanan’s CEO and Managing Director. “Like the building itself, our firm is deeply rooted in the Pittsburgh community, but also progressive in our thinking, and creatively innovative in how we work with clients. The Davis Companies gave us a customizable space to foster our collaborative culture, support our strategic vision and the needs of our clients, attorneys and staff as we continue to move forward.”
The Union Trust Building welcomes tenants and visitors to the building via an expansive, sophisticated lobby with high ceilings and marble floors, a concierge desk and restored bronze and brass elevators, a central coffee and cocktail bar, comfortable gathering spaces and an impressive 150-foot-high rotunda with an outstanding, original stained-glass skylight. The building also offers energy-efficient, Class-A, office, retail and restaurant spaces; a 5,000 square-foot state-of-the-art fitness center; a 70-seat conference facility; 400-seat auditorium; a 190-space underground parking garage with valet service and onsite bicycle storage. Centrally located in Mellon Square, the Union Trust Building is directly adjacent to the Mellon Bank Center light rail public transit stop and numerous bus lines, and is easily accessible via public transportation.
The Union Trust Building is one of many successful repositioning projects TDC has completed throughout its 41-year history. Recent notable projects include: The Westport Center for Health, a 38,000 square foot, Class-A medical office campus that represents the largest collection of medical providers in Westport, CT; 67 South Bedford Street in Burlington, MA, a four-story, 176,886 square foot office building; One Cabot Road in Medford, MA, a four-story, 308,954 square foot building just four miles from Boston; and The Xchange at Bedford, an eight-building, approximately 475,000 square foot campus in Bedford, MA.
About The Davis Companies
Committed to excellence in both investment performance and operations, The Davis Companies is an integrated real estate investment, development and management firm headquartered in Boston that has invested more than $4 billion in gross asset value through real estate equity, debt, and fixed-income securities. A unique combination of capital markets, development and management expertise allows The Davis Companies to nimbly tackle complex and contrarian opportunities. Directly, and with its valued partners, The Davis Companies currently owns a real estate portfolio of approximately 12 million square feet across the Eastern United States.
Buchanan Ingersoll & Rooney PC brings true partnership to our clients. With more than 450 attorneys and government relations professionals in 17 offices in the United States, we have formalized a model for consistently delivering the service attributes our clients most value. A nationally recognized firm, we provide a wide range of services in the areas of health care, financial services and banking, litigation, intellectual property, labor and employment, real estate, corporate and business law, tax, energy, and government relations. For more information, visit www.bipc.com