CBRE eyes One Oxford Centre for new HQ

CBRE may be zeroing in on a new home.

One Oxford Centre is believed to be the front-runner in the real estate firm’s search for a new Pittsburgh headquarters, according to real estate sources.

The company is considering about 18,000 square feet of space on the upper floors of the 45- story skyscraper. CBRE would be moving out of its longtime headquarters in U.S. Steel Tower, Pittsburgh’s tallest building.

CBRE managing director Jeffrey Ackerman stressed in an email that no decisions have been made as to where the firm might go.

“We have narrowed it to three options and working on test fits right now for each option. It’s going to be a great space. Oxford is one of our three options,” he said.

Mr. Ackerman said other buildings under consideration include 525 William Penn Place, Liberty Center, PPG Place, EQT Plaza and 11 Stanwix, all Downtown.

CBRE, one of the region’s top commercial real estate firms, has about 23,000 square feet in U.S. Steel Tower. Its lease expires in 2024.

The possible move comes more than a year after Cushman & Wakefield/Grant Street Associates took over the leasing of U.S. Steel Tower, a job CBRE had held for years.

There have been indications the firm may be able to leave its current space before the lease expires because it lost the leasing assignment to the building.

CBRE handles the leasing at One Oxford Centre, 525 William Penn Place and Liberty Center, making them prime candidates for the firm’s own relocation.