September 22, 2021
Pittsburgh Business Times
Nokomis Inc., a maker of electromagnetic sensors, soon won't have to split its offices between Charleroi and Peters Township.
The tech company has opted to buy a nearly empty office building at 370 Southpointe Dr. at the Washington County business park, which it plans to consolidate into as it continues to grow, according to Hanna Langholz Wilson Ellis, which represented the property for sale.
Sandy Cikovic, a vice president with Hanna Langholz Wilson Ellis, who represented the property for sale along with colleagues Gary Wilson and Michael Conner, said the property was targeted for an owner user, the sale of which should bode well for a Southpointe that's been working to overcome the recent challenges of the oil and gas industry.
"The floor plates were not conducive, without a lot of capital investment, to muti-tenant occupancy," said Cikovic of the building and its large common areas that weren't easy to subdivide.
A sales process targeted to buyers who wanted to own and occupy their office eventually resulted in the sale to Nokomis.
Built in 2000 as the original home for Solutions Consulting, the property includes a building of a little more than 65,000 square feet on 5.71 acres overlooking the Southpointe Country Club.
The seller was Southpointe-Miller LP, which fetched $8.444 million, or nearly $129 a square foot, in a transaction that closed a few weeks ago.
Cikovic noted how Nokomis is growing and expanding despite the challenges of the pandemic.
"I think it's refreshing to find that there's a company growing in this environment," she said. "It will be good for Southpointe."