The Westinghouse campus in Cranberry Woods is now under contract to a new owner, according to New York-based Columbia Property Trust, which is handling the disposition.
Columbia is under contract to sell the three-building campus fully leased to Westinghouse Corp. that it has owned since 2010. The disposition, for which the buyer was not disclosed, is expected to close in early 2020. In 2017, Columbia secured a renewal with Westinghouse to retain its corporate headquarters in all 824,000 square feet at the campus until 2032.
Columbia creates value through owning, operating and developing Class-A office buildings in high-barrier U.S. office markets, primarily New York, San Francisco and Washington D.C. It employs its experience in transactions, asset management and repositioning, leasing and property management to grow value across its 17 properties that contain over 7 million rentable square feet, as well as two properties under development.