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January 10, 2018  

Jamestown to Invest in US Steel Tower

Jamestown Properties has agreed to acquire a 40% stake in Pittsburgh’s U.S. Steel Tower, in a deal that values the trophy office property at $340 million.The Atlanta investment manager is acquiring the interest in the 2.3 million-square-foot building from New York-based 601W Cos., which is retaining the remaining interest. At the estimated value of $148/sf, Jamestown’s initial annual yield would be 7%. Cushman & Wakefield is brokering...

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