Faros Properties Welcomes Duquesne Light Company’s New Headquarters to Nova Place, Signifying a Major Milestone for Pittsburgh’s Innovation Hub
Faros Properties Welcomes Duquesne Light Company’s New Headquarters to Nova Place, Signifying a Major Milestone for Pittsburgh’s Innovation Hub
BISWIRE/Nov. 1, 2024 — Faros Properties is excited to announce that Duquesne Light Company will be relocating its headquarters to Nova Place, signing a lease-term over 15 years that will occupy over 120,000 square feet with additional room for future expansion.
This significant move highlights Nova Place's role as a pivotal hub for technology and innovation, with its infrastructure offering a wide range of amenities, convenient access, ample parking, enhanced security, and a vibrant community — making it a desirable destination where people want to work and innovate while prioritizing collaboration, creativity, and growth.
Nova Place is the Headquarters Location of Choice for major corporations, including Gecko Robotics, Innovation Works, The Pittsburgh Technology Council, Expedient, Crown Castle, Castle Biosciences, DataBank and AT&T, Comcast, Confluence, and MetLife.
Nova Place continues to position itself as a leading hub for technology, AI, robotics, data, and life sciences, further solidifying its reputation as a center for cutting-edge industries and growth in the region.
“As the electric utility serving the Pittsburgh region, DLC is responsible for providing safe, affordable and reliable energy to more than 600,000 customers,” said Kevin Walker, president and CEO of DLC. “To do so successfully requires significant cross-functional collaboration among our more than 1,700 employees in the region; connection to the community; and a commitment to continuously innovate and improve. Our move to Nova Place helps us advance each of these goals while remaining in the city of Pittsburgh, which was an important criteria in our search.”
Faros Properties is partnering with the local architect Design Group to create an inspiring and dynamic work space that will meet the evolving needs of Duquesne Light Company’s employees and attract the future talent they seek. We are excited to welcome Duquesne Light Company to our expanding community and look forward to supporting their success and growth at Nova Place.
Quote from Jeremy Leventhal, Managing Partner of Faros Properties:
“We couldn’t be more excited to welcome Duquesne Light Company to Nova Place. We have invested extensively into making Nova Place a state-of-the-art facility that attracts the most innovative companies in the region. This partnership reflects our vision for the campus as a thriving, innovative hub that offers much more than just workspace. Duquesne Light Company’s presence reaffirms our commitment to providing an exceptional work environment that fosters growth, creativity, and drives success. We are excited for the future.”
Brokerage Representation:
- Faros Properties - Represented by CBRE
- Duquesne Light Company - Represented by Colliers' Patrick Sentner and John Bilyak
Legal Representation:
- Faros Properties - General Counsel
- Duquesne Light Company - Babst Calland
About Faros LLC
Faros Properties is a real estate investment firm established by Alexander Leventhal, Jeremy Leventhal and Elliot Gould as a platform to target long-term private investment opportunities. Faros primarily targets core investments in supply-constrained markets with high concentrations of intellectual capital. Faros and its predecessor companies trace their roots to family-owned operations. The family has for over six decades been actively involved in the construction, development, acquisition, management, and financing of over 50 million square feet of real estate internationally.
