Two financial firms moving into 11 Stanwix
By Tim Schooley and Patty Tascarella–Pittsburgh Business Times
Pittsburgh, PA (November 30, 2017)—Chicago-based M&J Wilkow Ltd. has inked two new deals at 11 Stanwix, landing a new office of a national bank and one of the city’s best-known fintech startups. Marty Sweeney, a senior vice president with M&J Wilkow, said during a panel discussion downtown that Wells Fargo is establishing a 15,000-square-foot office in the downtown office tower.
Wells Fargo will move from its established office at 4 Gateway Center and is taking a long-term lease at 11 Stanwix. A spokesman for Wells Fargo couldn’t be immediately reached for comment; David Koch, an executive vice president for CBRE who represented Wells Fargo, declined to comment.
Also joining Wells Fargo is Pineapple Payments, a fintech startup that has moved from the North Side to a 10,700-square-foot office in the building. Launched in 2016 by repeat entrepreneur and CEO Brian Shanahan, Pineapple is a full-service provider of omni-channel payment processing technology.
Shanahan said the young fintech company needed more room: It employs 20 and expects to double staff by the end of the first quarter and total 60 by mid-2018.
“We’re very active in buying companies,” he said.
Pineapple secured a $35 million growth equity commitment in September from Providence Strategic Growth Capital Partners LLC to support acquisitions and organic growth. In late October, it acquired Chicago-based Payline Data Services and plans more such transactions.
Shanahan said the downtown location is easily accessible for commuting from the North and South Hills, and will appeal to recruits as Pineapple escalates hiring.
“I wanted to have an amazing office and culture for our people,” he said.
Pineapple is doing a “huge retro-fit, even though it’s beautiful as is,” Shanahan added, retaining Next Architecture to redo its new home. Sweeney mentioned the two new leases during a panel discussion at the Fairmont Hotel that was part of the Pittsburgh State of the Market event that was held by Bisnow, a business news site and events company.
M&J Wilkow is working to reposition the 467,843-square-foot building that overlooks the Monongahela riverfront with a host of new amenities that will also include a new location of Club Cycle, the Bethel Park spin studio.
Also the owner of 20 Stanwix office building that neighbors it, M&J Wilkow bought 11 Stanwix in early 2017 and has been investing in various upgrades and bringing other changes to the property.
The building also includes regional offices for Key Bank; ad firm Brunner Inc.; IKM Inc., one of the region’s largest architecture firms; and the Allegheny Conference on Community Development, among others.
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