BreakingNews

BreakingNews

August 14, 2015

Market News

Commercial real estate continues to lead the construction market in Pittsburgh. This week saw announcements by Oxford Development and Continental/Chaska about leases that will absorb new spec buildings that were planned. Oxford signed Burns White to take the third phase at Three Crossings, a 105,000 sq. ft. building to be built by Rycon Construction. ServiceLink agreed to take a third 68,000 sq. ft. building at Pittsburgh International Business Park.

According to Newmark Grubb's Lou Oliva, the industrial market is heating up as well. Oliva's client, Imperial Land Co., has reached agreement with a developer on a land sale for a 320,000 sq. ft. distribution center at Findlay Industrial Park. Details on the developer aren't known yet. That project will be across the road from the site of GE Plastic's new $32 million advanced materials center. Further west, the County let contracts to prepare for expansion of the Clinton Commerce Park, where a 250,000 sq. ft. commercial warehouse should be underway in 2016.

Project News

Bidding is unusually slow as the dog days of summer wind down but there is some interesting activity in WV. Monongalia General Hospital has a $11 million linear accelerator project out to bid. WVU selected a development/construction team for its new $50 million convention center hotel.Details are available at BuildingPittsburgh. WVU also took qualifications from CM's for the $22 million Coliseum renovation.

Closer to Pittsburgh, the developers of Siena in Upper St. Clair put the 87,000 sq. ft. second building out to bid to A. Martini, Continental, PJ Dick and Rycon. More details are at the Builders Exchange. The $18.5 million Donaldson's Crossroads water treatment plant is bidding Oct. 1. Mosites Construction was selected by W & J to build its $14 million recreation center.

To keep up to date with the market check out BuildingPittsburgh.

WTW Architects rendering of Burns White's new HQ at Three Crossings. Image courtesy Oxford Development.

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Tall Timber Group is the publisher of BreakingGround and DEVELOPINGPittsburgh magazines and the Pittsburgh Homebuilding Report, and is a consultant for contractors and designers serving the construction and real estate market. For more information about our services, contact Jeff Burd or call:

Tall Timber Group
506B McKnight Park Dr.
Pittsburgh, Pennsylvania 15237
412-366-1857

www.talltimbergroup.com

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