McKnight Development closes on Robinson Plaza

McKnight Development Co. has closed on Robinson Plaza, a four-building property in Robinson Township, for $9 million, according to records filed with the Allegheny County Recorder of Deeds Office.

McKnight Principal Bill Rudolph declined to comment until his plan for the property is complete.

Plans for the complex, about 175,000 square feet of space in three office buildings and a small retail outparcel, could include the demolition of at least one of the office buildings to make way for more retail space, according to a source familiar with the property who declined to be identified because plans have not been finalized.

McKnight purchased the struggling property, which sits on Park Manor Drive and is assessed at about $11 million, from LaSalle Bank N.A.

Robinson Plaza's previous owner, the principal of O'Hara-based commercial contractor Massaro Corp., deeded the property back to the bank in August to avoid foreclosure.

Bayer AG moved out of 100,000 square feet of space in the last two years, leaving two of the complex's buildings mostly vacant.

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source: bizjournals.com