Faros Properties and Confluence Sign Lease Making Nova Place Their New Global Headquarters
Pittsburgh, Pa.—(April 16, 2016) Faros Properties announces Nova Place’s newest tenant, Confluence, a global leader in data-driven solutions for efficiency and control for data management and automation challenges in the asset management industry. Headquartered in Pittsburgh, Confluence serves the international fund industry with locations in Brussels, Dublin, Ho Chi Minh City, London, Luxembourg and San Francisco.
Confluence will move to a 40,000 square foot office at the region’s largest urban redevelopment project, Nova Place, in 2017. Their new office will include two sprawling floors connected by a central staircase, with open floorplans surrounded by floor-to-ceiling windows showcasing panoramic views of historic Northside and downtown.
Confluence joins a list of newly signed tenants as well as long-standing anchor tenants including, Innovation Works, La Prima, Matrix Solutions, PNC, Bank of America, and Expedient, in addition to Alloy 26, the highly anticipated co-working space within Nova Place. Minutes from downtown and all major throughways, Nova Place grants these companies easy access to destinations city-wide.
“Our move to Nova Place is a testament to our commitment to Pittsburgh as a great location for our headquarters as we continue to grow globally,” said Confluence founder and President and CEO Mark Evans. “The vision of Nova Place aligns with our culture of innovation and the property design and amenities underscore the value we place on engaging employees and inspiring collaboration at all levels of the company.”
Confluence attributes the need to plan for future growth and amenities like Nova Place’s 3,000 car garage, forthcoming 10,000 square foot, state-of-the-art fitness center, and an onsite auditorium equipped with the latest technology as considerations for their move next year.
With new food options including La Prima Espresso coffee, City Fresh Pasta, and Bull Dawgs (gourmet hotdogs) joining the Eco Bistro restaurant to offer four food options on site, the complex continues to add amenities.
“We are thrilled to have this innovative company support our long-term commitment to the redevelopment of Nova Place. Not only will Confluence’s relocation add to the vibrancy of our campus, their move adds materially to the mix of corporate and technology tenants already at the complex.” said Faros Properties Managing Partner Jeremy Leventhal.
CBRE, leasing agent at the project added: “The Pittsburgh office market has really responded to this type of product, as has the business community. With this and the other new leases at Nova Place, the project is already at 75% leased and climbing! The reception by the tech and corporate community to this world-class project has been unbelievable.”
Formerly the Allegheny Center Mall, Nova Place is a 1.5 million square foot office complex undergoing multi-million dollar renovations to transform the property into a first-class campus providing a corporate environment for current and future tenants to inspire, educate, and foster growth. Over the past three years, Faros Properties has invested over a quarter of a billion dollars into the region.
About Faros Properties 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.
About Confluence: As a global leader in data-driven solutions for efficiency and control, Confluence solves tough data management and automation challenges for the asset management industry, including performance reporting, regulatory reporting, investor communications and fund expense management. Confluence solutions enable asset managers and third-party administrators to consolidate and leverage data across business operations which results in lower costs, reduced risk, decreased reporting turnaround times and the scalability to automate more processes without additional resources. The platform features solutions to support a wide array of fund types – including mutual funds, ETFs, alternative investments, institutional portfolios and UCITS funds. Seven of the top 10 global service providers license Confluence products and eight of the top 10 global asset managers have business processes automated through Confluence. For more information, visit www.confluence.com