PITTSBURGH, Pa, Dec. 1, 2020 – Totum Realty Advisors is pleased to announce the sale of the Wampum Underground Commerce Center, a 2.5 million square foot former limestone mine turned industrial facility. This below-ground, climate-controlled property offers businesses flexible, economical and secure storage options that are significantly more energy and cost-efficient than traditional warehouse facilities.
The property houses the following operations:
- Warehousing and distribution – Close proximity to highways, semi-trailer ready loading docks and large/flexible space
- Office and warehouse space – Secure 24/7 card access control, low utility costs and a stable professional management team
- Logistics services – Third-party logistics services performed by full-time on-site staff
- Vehicle storage services – Fireproof rooms, consistent temperature and secure space
Totum lived up to its mission of providing “solutions for the whole process,” even amidst the disruptions created by COVID-19. In a short marketing window during the early days of the pandemic, Totum persevered and worked tirelessly to procure five buyers who all toured the facility and subsequently made offers. The sale of the Wampum Underground Commerce Center officially closed on November 12, 2020 to a joint-venture between Chicago-based firms Baum Revision and Bellevue Street Capital. Predicated on the facility’s strong historical track record of being recession resistant, the process achieved a premium purchase price as compared to recent sales nationally. “The sheer size and underground-city feel of this property makes it the most unique project my team has ever undertaken,” said Kevin Riley, Founder and President of Totum Realty Advisors. “We’re proud of the work we’ve done and look forward to seeing what the future holds for this multi-faceted industrial campus.” Totum is now charged with overseeing the leasing of the facility by its new owners.
“In addition to its superb on-site team, it’s clear from the moment you drive into Wampum Underground that it’s a special property with a broad appeal to many different users,” said Alan Lagunov, a Principal with Bellevue Street Capital.
“Wampum Underground has three distinct business lines which serve individuals, local businesses and several global manufacturers. We’re excited to continue serving these loyal customers and introducing Wampum Underground to a wider audience in the region,” said ScottGoldman, a Principal with Baum Revision.
This is expected to be the largest transaction in Pennsylvania by square footage in 2020 and was Totum Realty Advisors’ largest square footage transaction to date.
To learn more about the Wampum Underground Commerce Center and leasing availability, contact Kevin Riley at [email protected].
About Totum Realty Advisors
Totum Realty Advisors is headquartered in Pittsburgh, PA and provides creative and innovative solutions to commercial real estate challenges for clients of all sizes across a wide range of industries. Totum has more than 45 years of combined experience and provides businesses of all sizes and industries with creative and innovative solutions to complex commercial real estate decisions. The team is passionate about their work and remains laser focused on helping their clients achieve their goals. As a long-term partner in growth, Totum Realty Advisors is committed to its relentless pursuit of finding its clients the right commercial real estate solutions for today, tomorrow, and beyond.
About Wampum Underground Commerce Center
Wampum Underground Commerce Center provides a unique combination of outstanding physical characteristics including but not limited to; strict temperature and humidity controls, controlled access for security and compliance, superior protection from natural/man-made disasters and adaptive physical configurations for organizations. This 2.5 million square foot limestone mine turned subsurface facility offers organizations the ability to capitalize on quality space at an affordable price with its built-in amenities and close proximity to an excellent network of highways.
About Baum Revision
Baum Revision, LLC invests in and develops transformative projects that produce a positive impact in their respective communities. These projects represent the principals’ commitment to social responsibility, historic preservation, and sustainability.
The company’s body of work since inception represents a capitalization of over $350 million on more than 100 projects across 11 states totaling 5.4 million square feet. Projects include every major real estate product type including office, industrial, mixed use and multi-family.
About Bellevue Street Capital
Bellevue Street Capital is a real estate investment firm with industrial, medical, office and multi- family assets throughout the Midwest and Northeast. The firm’s Principals have over a decade of experience executing over $250 million worth of transactions across various asset classes nationally. Since its inception in early 2019, the firm has executed over $50 million in transactions.
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