No updates in tenant search for Walnut Capital’s PAA building


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The Pittsburgh Athletic Association building under construction in fall 2020.

By Betul Tuncer, Assistant News Editor

There are no updates on Walnut Capital’s efforts to secure tenants for the historic Pittsburgh Athletic Association building on Fifth Avenue. The Shadyside-based developer announced last June that it completed construction and restoration of the six-story building.

According to Todd Reidbord, president of Walnut Capital, the “core and shell” of the building is complete and the company is currently working on securing tenants to lease space.

Formerly a social and athletic club, the PAA building has been at the center of Oakland since 1911. Walnut Capital purchased the building in 2018 for $12.6 million as a part of the PAA’s bankruptcy reorganization. The company’s $25 million rehabilitation included converting 130,000 square feet in the building through modernization and historic restoration.

No official opening date is set for the restored building’s office spaces.