Next Tier Connect, the investment partnership of Next Tier HD and RedBird Capital Partners, has acquired a data center and mixed use property in Monroeville, Pennsylvania.
The company says the 505,000 square foot mixed-use campus is “mission critical” and is currently leased to several “recognizable Fortune 500 companies” for office, call center, business continuity, and data center spaces. The campus previously functioned as the Westinghouse Nuclear headquarters and is located in a suburb of Pittsburgh. The Monroeville property will be rebranded as “Net Tier Connect - Pittsburgh East.”
This marks the first acquisition by Next Tier Connect since its formation. The investment platform was built to focus on acquiring, optimizing, and managing a diversified national portfolio of select real estate and mission critical properties, the partnership said.
David Spiewak, Next Tier’s Managing Principal, commented on the acquisition:
"We look forward to executing on our expansion into the Pittsburgh market through the acquisition of this premier property. This is a world-class mixed-use mission critical campus, which we look forward to restoring to its prior iconic state. The acquisition represents the type of high-quality campuses the Next Tier Connect platform endeavors to own, operate and grow.”
New York’s Next Tier HD is focused on mission critical real estate and data centers. RedBird is based in New York and Dallas and focuses its investments on providing long-term capital to help entrepreneurs grow their businesses. Since opening its doors in 2014, RedBird has led over $2 billion of equity and co-investments.
