Year in Review: Mystery surrounded sale of Westinghouse's Cranberry Woods campus
CRANBERRY TWP — The year began with a real whodunnit — but detectives had nothing to do with it.
Columbia Property Trust announced in December 2019 that it had sold the Cranberry Woods campus occupied by Westinghouse Electric Co. At the time, it seemed like a normal property sale — albeit one that pulled in a jaw-dropping $180 million.
It quickly became apparent, however, that this was no ordinary sale. Rather than selling the Westinghouse campus, Columbia had transferred the deed to a newly created subsidiary, which was evidently owned by a series of other, also newly-created subsidiaries.
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