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Westinghouse's Cranberry campus under contract to be sold

December 5, 2019 News Extra

CRANBERRY TWP — The 824,000-square-foot Westinghouse Corporation campus in Cranberry Woods is under contract to be sold.

Columbia Property Trust, the current property owner, announced Tuesday the expected sale in early 2020 of the three-building campus to an undisclosed buyer. Westinghouse renewed its lease in 2017, extending its occupation through 2032.

In its 2017 annual report, Columbia stated it was examining the disposition of its Cranberry property, which it has owned since 2010, along with two in Atlanta, to focus its portfolio more on its primary markets in New York, San Francisco and Washington, D.C.

In January, the company began courting buyers for the Cranberry Woods site.

The price of the Westinghouse property sale was not immediately available, although Columbia reports it expects a combined $245 million to $265 million for the sales of that site and a 262,000-square-foot office in Pasadena, Calif.

Read more in Friday's Butler Eagle.