PITTSBURGH — After building a portfolio of older and smaller office buildings in the Golden Triangle through his New Jersey-based Rugby Realty Co. Inc., Aaron Stauber and a group of local investors are now the owner of the third-largest office building in downtown Pittsburgh.
Stauber and company announced they have closed on buying One Oxford Centre, the 45-story office tower along Grant Street whose previous owner, San Francisco-based Shorenstein, found its investment upside down from the pandemic when its total $200 million investment was hugely devalued by pandemic-inspired leasing and occupancy challenges.
Stauber said in a prepared statement in which he emphasized to expect a long-term ownership approach: “When I first arrived in Pittsburgh nearly 40 years ago, One Oxford Center was the most beautiful building I had ever seen — an impression shared by many. When the loan for this trophy property hit the market, there was a real risk it would fall to an owner who would focus only on squeezing rents, neglecting reinvestment and flipping it. We moved quickly because we have the vision and experience to revitalize the Grant Street corridor and restore One Oxford Center as Pittsburgh’s premier business address. Owning this building is an incredible privilege, and I am committed to returning it to its rightful place as Downtown’s most sought-after destination.”
Larry Walsh, chief operating office in Pittsburgh for Rugby, clarified that One Oxford will operate within the Rugby portfolio, with the company expecting to offer its facilities in the building to tenants at other properties, including the Frick Building, and vice versa.
Click here to read more from our partners at the Pittsburgh Business Times.
Download the FREE WPXI News app for breaking news alerts.
Follow Channel 11 News on Facebook and Twitter. | Watch WPXI NOW
©2025 Cox Media Group
