WVU Health System Signs Lease with NAI Burns Scalo in Washington County, PA
NAI Burns Scalo is excited to announce that West Virginia University Health System, commonly known as WVU Medicine, has signed a lease to occupy the entire building at The Fountainhead in Southpointe Business Park in Washington County, PA. This move represents one of the largest lease agreements in the Pittsburgh metropolitan region this year, taking a notable 90,250 SF of space off the market, and marking a significant net gain for Southpointe as a whole. The commitment is headlined by a long-term lease, reflecting WVU Health System’s strategic vision for growth and expansion.
WVU Health System’s lease at The Fountainhead marks a pivotal step in its continued growth, emphasizing a commitment to providing innovative, high-quality care to its patients.
“Southpointe is a natural fit for our organization, and we are excited to establish this partnership with NAI Burns Scalo as we continue to expand and grow our network,” Nicholas J. (Nick) Barcellona, Senior Vice President and Chief Financial Officer of WVU Health System, said. “As our footprint has grown to include southwestern Pennsylvania, West Virginia’s Northern Panhandle, and eastern Ohio; Washington County’s central location and wealth of resources combined to make The Fountainhead a logical choice in support of our goal to deliver seamless, high-quality services across the region.”
WVU Health System’s lease at The Fountainhead marks a significant step forward for the Southpointe market. This lease is a major boost signaling renewed interest and confidence in the area. Southpointe Business Park is a 610-acre multi-use park located in Cecil Township, Washington County; and is known to be one of the premier business parks across all of Pennsylvania. Conveniently located adjacent to Interstate 79, the business park is in the northern region of the county and includes corporate headquarters, light manufacturing businesses, a residential area, a golf course and much more. WVU Health System’s expansion reinforces that Southpointe remains a prime destination for leading organizations, indicating a positive trajectory for the local business community for years to come.
Washington County Commissioner Nick Sherman stated, “We are excited to announce that West Virginia University Health System will be opening an additional location in the Commonwealth, within our prestigious Southpointe business park at The Fountainhead. The strong demand in Southpointe underscores the incredible benefits awaiting businesses and families looking to relocate to this vibrant area in Washington County. We have a compelling story to tell, highlighting our low taxes, exceptional schools, abundant recreational opportunities, and outstanding quality of life. Establishing WVU Health System here not only enhances our community but presents the perfect opportunity to tell this story again.”
WVU’s decision to expand operations to Southpointe underscores a broader trend being observed in the current commercial real estate market – high-quality buildings in top tier locations are winning business.
“Securing WVU Health System as a tenant at The Fountainhead is fantastic for the market as a whole,” said Christie Reiber, Chief Investment Officer at NAI Burns Scalo. “WVU’s commitment proves that visibility and access can be deciding factors in a transaction. We’re proud they chose to work with us for this expansion.”
Facilitated by NAI Burns Scalo’s Brokerage Services team, this lease highlights the expertise that large scale tenants are looking for in a modern real estate provider. Strong capitalization of the building’s ownership and intuitive ways to obtain financing played a crucial factor in the success of the transaction. With conventional financing being difficult for office buildings, NAI Burns Scalo was able to creatively secure financing via the bond market.
“This lease and the financing obtained in connection with it are great examples of our team’s expertise,” said Tim Quinn, General Counsel for NAI Burns Scalo. “We take pride in our ability to make complex real estate processes straightforward and successful for all parties involved.”
About WVU Health System
The West Virginia University Health System is West Virginia’s largest health system and the state’s largest employer with more than 3,200 licensed beds, 4,000 providers, 33,000 employees, and $6 billion in total operating revenues. The Health System is comprised of 24 hospitals – including J.W. Ruby Memorial Hospital, an 880-bed academic medical center, and the 150-bed WVU Medicine Children’s Hospital in Morgantown, West Virginia – and five institutes. To learn more, visit WVUMedicine.org.
About NAI Burns Scalo
NAI Burns Scalo, headquartered in Pittsburgh, Pennsylvania, is an integral part of NAI Global, which spans over 325 offices across 55 countries. As a leading player within NAI Global, our strategic positioning ensures exceptional outcomes for clients, with access to over 6,000 professionals worldwide. With nearly 100 dedicated specialists, we seamlessly integrate into this expansive network, excelling both locally and globally
Since 1956, we’ve been at the forefront of providing commercial real estate services such as brokerage, property management, development, and construction. We’ve learned the ropes, navigated the tides, and honed expertise that only comes from over six decades of experience. This is about more than just finding a commercial space for your business. It’s about delivering life-changing real estate experiences to propel you forward. To learn more, visit NAIBurnsScalo.com.