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Developer Plans $16M Medical Office Facility

CRANBERRY TWP., PA-Based on interest among area doctors, Landmark Properties plans a 115,000-sf specialty office building in which tenants can invest.

By Marita Thomas | Updated on November 30, 2006

CRANBERRY TWP., PA-Allison Park-based Landmark Properties has acquired the eight-acre former site of Castcon-Stone Inc. for construction of a 115,000-sf medical office building. The now-vacant parcel is on Dutilh Road near Routes 228 and 19 in the thriving retail corridor approximately 25 miles north of Pittsburgh.

Mark Daday, Landmark’s president, declined to say what the company paid for the land, but tells GlobeSt.com the all-in cost of the development is approximately $16 million. His company owns about one million sf of office and retail space in the area, and he says doctors in the company’s office buildings expressed interest in a facility devoted exclusively to medical office tenants. “It doesn’t always make sense to mix them in with corporate tenants,” he says. “We’re in negotiations with a first batch of prospects for an aggregate of up to about 40,000 sf.” He expects the building to reach completion in June 2007.

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