Lawrenceville is getting a TRYP Hotel in a historic building  Lawrenceville is getting its first hotel in years, and it’s an adaptive reuse of an older building. The Washington Education Center — the large brick building located at 40th St. just west of Butler (next to Wendy’s) — will be transformed into a boutique TRYP Hotel scheduled to open in early 2019. Josh Aderholt, a 12-year resident of the neighborhood and principal at the Wheeling, WV-based Century Group, is largely to thank for what will be the first TRYP Hotel in the state... Read More.

This South Side church built for millworkers in 1905 could find new life as loft-style condominiums A former Catholic church in the South Side, shuttered for a quarter-century after parishioners moved to the suburbs, could soon welcome residents inside its red brick walls with its conversion to loft-style condominiums. Tom Sabol and Scott Wolkowitz with The AM Group in New York will ask the Zoning Board of Adjustment on Feb. 8 for a multifamily variance in the South Side Flats neighborhood zoned for single-family residences, to build six condos in St. Matthew Church... Read More.

Moe’s in Market Square closes to renovate, promising to return with Downtown’s fastest lunches You may have to skip that lunchtime burrito today: Moe’s in Market Square is closing for a three-month renovation. But when they reopen, franchise owner Mike Geiger tells us he aims to offer the “fastest, freshest lunch experience in Downtown.” The tiny 1,500-square-foot restaurant, open since 2008, is often packed at midday. They’re now expanding to fill the entire building, with a full façade renovation and twice as much indoor seating. But the key is this: They’re also creating a separate entrance on Forbes Avenue and a separate food service operation for mobile and online customers. .. Read More.

U-Haul buys former Macy's space at Beaver Valley Mall The former Macy's at Beaver Valley Mall is set to become a U-Haul showroom and self-storage facilty. The two-story, 203,000-square-foot space was sold to the Phoenix-based company for $1.53 million, according to the Beaver County Times. Sold at auction in December, the Center Township store had been closed since early 2017 after nearly 30 years as a Macy's that employed about 80 people... Read More.

Waterfront Building on First Avenue in Downtown Pittsburgh on market for $5 million A former warehouse on First Avenue, Downtown, that dates back to the 1800s, when the Monongahela Wharf served as Pittsburgh’s primary commercial waterfront, has hit the market. The Waterfront Building at 200 First Ave. is being offered for sale by the CBRE real estate firm with an asking price of $5 million... Read More.

Local apartment rental rates may run out of room to grow Apartment rents have soared so high in some of the hottest Pittsburgh communities that it has become cheaper in many cases to buy a home rather than rent. That’s especially true in the East End, where luxury apartments in Bakery Square, Lawrenceville and East Liberty have multiplied in recent years. While new apartments in the East End still lease more successfully than elsewhere in the city, they are filling up at a slower pace, while vacancies for new units in other parts of the city continue to rise, said Ben Atwood, an analyst for Costar Market Analytics, a Washington, D.C.-based commercial real estate research firm... Read More.

Real estate tech startup Ikos bridges gaps between renters and landlords When Steve Welles first moved to Pittsburgh, he nearly missed out on a great apartment. “I actually turned it down,” he says, “because the property manager knew nothing about the neighborhood.” But as luck would have it, a resident passing by overheard their conversation and gave Welles a snapshot of the neighborhood that clinched his decision. “That was the tipping point,” he says. .. Read More.

Bakery Square 3.0 will be the final, nine-story office building on 20-acre development The developers who repurposed a historic Nabisco factory into the tech-oriented Bakery Square campus want to build a nine-story office building on the final undeveloped parcel of the East End property. Walnut Capital, in plans submitted to the Zoning Board of Appeals and Adjustment, says it will construct a LEED-certified building with 320,000 square feet of office space as its final buildout on the 20-acre Bakery Square development in Larimer and Shadyside... Read More.

In an effort to keep our clients and colleagues informed about the Pittsburgh commercial real estate market, we send out a weekly email with the top news stories that affect you. Each day we sort through various industry publications and local news sources to narrow down the top articles that matter to the Pittsburgh commercial real estate investor. For more information from a SVN-TRCA Agent please contact  724-918-4428   or email  threeriversadmin@svn.com Visit Us: www.svnthreerivers.com

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