Moving On Up: CLA Wealth Advisory And Consulting Firm To Relocate To Union Trust Building

August 29, 2020 | By Pittsburgh Post-Gazette

Pittsburgh– A Boston developer has landed another office tenant to help fill the historic Union Trust Building on Grant Street Downtown.

CliftonLarsonAllen LP — a wealth advisory, audit, tax and consulting services firm — will move from K&L Gates Center on Sixth Avenue to its new location in the fourth quarter of this year.

It will occupy 9,622 square feet of space in its new home, according to The Davis Companies, the owner of the Union Trust Building.

Jonathan Davis, CEO and founder of The Davis Companies, called the new lease a reaffirmation of the firm’s strategy in buying the building in 2014 at sheriff sale for $14 million and launching a major overhaul. “They’re a very prestigious national firm with a great client roster nationally and in Pittsburgh,” he said.

“We are very excited to move to the beautiful Union Trust Building. The character of the building and the reputation of The Davis Companies marries well with the rich and innovative family culture of CLA,” Celeste Suchko, managing principal of CLA’s Pittsburgh office, said in a statement.

The company has about 40 employees in the Pittsburgh office. It currently has about 12,488 square feet as part of a sublease at K&L Gates Center, Ms. Suchko said. While CLA will be taking less square footage at Union Trust, the space is more efficient and allows for growth, she added.

CLA joins a roster of tenants that includes the Buchanan Ingersoll & Rooney, Jackson Kelly PLLC, Pepper Hamilton, Blank Rome and Frost Brown Todd law firms, as well as First Commonwealth Bank.

In all, The Davis Companies has boosted office occupancy in the building from about 35% to 92% since taking over six years ago. It did so in part through more than $100 million in rehab work that completely restored the Grant Street gem, built by industrialist Henry Clay Frick and designed by famed architect Frederick J. Osterling. It opened in 1917.

The real estate company also added amenities like fitness and conference centers and a parking garage.

Last year, The Davis Companies put the building up for sale but then decided to take it off the market after Del Frisco’s Double Eagle Steak House pulled out of a deal to open a restaurant on the Fifth Avenue side of the property.

The Davis Companies has since sued Del Frisco’s Restaurant Group and Landry’s LLC over the failed venture. Mr. Davis declined comment Friday, citing the active litigation.

He did say the firm has reached a settlement with the Union Standard restaurant and its owners and is again marketing the space at the corner of Cherry Way and Oliver Avenue. The Davis Companies sued after the Union Standard closed for good in early June because of the COVID-19 pandemic.