The building is owned by Highmark subsidiary Jenkins Empire Associates and has served as the company's headquarters since it was completed in 1988.

The roof utilizes four prisms clad in granite and encloses a penthouse area that stores the mechanics for the building as well as the cooling towers.

Before Highmark's branding of the top of the tower, there were video screens at the base of the decorative summit of the building.

[4] Crane operator David Angle, the father of future Olympic wrestler and professional wrestler Kurt Angle, was killed in a construction accident during construction of Fifth Avenue Place on August 29, 1984.

[6][7] A renovation of the space was announced in September 2019; the remodeled shopping mall will mainly focus on dining and is planned to include an open atrium and more natural lighting, plus other amenities.