There’s a new structure about to go up in Oakland, but it’s not another medical center or fast food joint.

Today, workers will break ground on the Murdoch Building, an eight-story, 95,000-square-foot office and retail space on the corner of Forbes and Coltart avenues.

Slated to open in the third quarter of 2019, the building has only 35,000 square feet of office space currently remaining for rental. Two tenants have already locked in a large portion of the building: The University of Pittsburgh has leased the top four floors and CVS Pharmacy will occupy a portion of the ground-level retail area... Read More.

Department stores with household names used to be enough to get customers to trek out to the nearest mall — and maybe hit a few other stores and grab dinner while they were out.

A lot has changed in the last several years.

The owners of the Waterfront shopping complex this week bought the building owned by the iconic department store chain Macy’s to make way for “more relevant concepts” at the open-air shopping center in Homestead... Read More.

In two weeks, Cresco Yeltrah’s CY+ dispensary expects to transact the first legal medical marijuana purchase in Western Pennsylvania from a gray, fortress-like one-story building near the city of Butler’s baseball field. That same week, Solevo Wellness plans to open its dispensary in Squirrel Hill.

Pennsylvania’s budding medical marijuana program has arrived.

The Butler facility is planning a grand opening event Saturday afternoon, and visitors may be surprised by what they find. .. Read More.

An Atlanta-based investment manager whose extensive property holdings include One Times Square in New York and Ghirardelli Square in San Francisco has its eye on Pittsburgh’s signature skyscraper.

Jamestown Properties has agreed to acquire a 40 percent stake in the 64-story U.S. Steel Tower, Pittsburgh’s tallest building, according to Real Estate Alert, an industry trade publication... Read More.

Officials of Carvana, the Phoenix-based e-commerce car dealership, announced that they are planning to bring an unusual car-vending machine concept, located in only seven other cities nationwide, to South Fayette.

The entire purchase process takes place online through the company’s website, Carvana.com, where customers can have cars delivered directly to their home, sometimes as early as the next day. Or they can choose the car-vending machine experience, where buyers visit the site, insert a special coin, and watch as an automated system delivers the vehicle by lowering it from a top floor... Read More.

One of the biggest name in retail banking is entering Pittsburgh’s consumer market.

Bank of America Corp. confirmed that it is opening full-service financial centers in Upper St. Clair, Wexford and East Liberty and has signed leases for these branches... Read More.

The local office of a national architecture and engineering firm plans to at least double in size within the next two years.

Thomas J. Vena, HNTB Corp.'s western regional director of infrastructure and head of the Pittsburgh office, told the Business Times that the move is part of an expansion by the 100-year-old, employee-owned firm. The Pittsburgh office at 200 1st Ave. is one of five in the commonwealth and the only one in the western part of the state. .. 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.


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