Bakery Square 2.0 office building to start construction in …

Walnut Capital Partners has its financing in place, its contractor ready to go and expects to begin building a new 216,000-square-foot office building in March as part of its expansion of Bakery Square 2.0.

Thats the basic gist of what the company reported to the Planning Commission on Tuesday on a project to build upon the established Bakery Square development to create a new larger 20-acre office-apartment-retail campus along Penn Avenue in the citys East End.

Bids are going out next week, said Gregg Perelmann, principal of Walnut Capital, of the chain reaction of commitments falling into place that should see a new office building completed on the former site of the Reizenstein school in the next 18 to 24 months.

The new office building is expected to be the first of two 200,000-plus-square-foot structures on the site, which is also expected to now also include a second 950-space parking garage, along with the two 175-unit apartment buildings and a collection of townhouses also slated for the plan.

Perelmann was mum about whether Google, which occupies 140,000 square feet in the original Bakery Square, had made any commitment to expand into the new building.

Anonymous sources familiar with the plan expect Google to take a significant portion of the new office building, which will be built with a two-level sky bridge spanning Penn Avenue connecting the Larimer side of the established Bakery Square with the new Shadyside addition to the development.

Perelmann said the company continues to talk with potential tenants.

Were focused on the university-based companies that need to expand, said Perelman.

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Bakery Square 2.0 office building to start construction in ...