One Liberty Properties Completes Purchase of a Six Building Multi-Tenant Industrial Property for $53.5 Million
One Liberty Properties has purchased a six-building industrial complex in Sewickley, Pennsylvania, for $53.5 million. The deal expands the company’s presence in the Pittsburgh area and adds a mix of well-known tenants to its portfolio.
The newly acquired property covers 397,440 square feet and is currently 93% occupied. Its 16 tenants include major names like Amazon, Linde Gas, The Macomb Group, and Safelite Fulfillment. The average remaining lease term stands at 3.3 years, with an annual base rent of around $3.4 million.
Financing for the acquisition came from a combination of cash and a $32.4 million mortgage. The seven-year loan, provided by JPMorgan Chase Bank, carries a 5.45% interest rate. Payments will be interest-only for the first five years, followed by a 30-year amortisation period. Patrick J. Callan, Jr., President and CEO of One Liberty Properties, highlighted the strategic value of the purchase. He noted that it establishes immediate scale in a strong submarket within the Pittsburgh region. The deal also aligns with the company’s accelerated growth, as its 2025 transactions total $188.8 million—over five times the average annual pace of the previous five years.
The acquisition strengthens One Liberty Properties’ industrial holdings with a well-leased asset. The financing structure and tenant diversity aim to support long-term stability. The company now holds a significant position in a key Pittsburgh submarket.
