Westinghouse Electric Co., the Cranberry-based nuclear power firm that has endangered the viability of its Japanese parent company, will seek bankruptcy protection under Chapter 11, according to the Japanese news agency Nikkei.
The move, which got Toshiba board approval in Tokyo on Wednesday morning, is intended to wall off Toshiba against mounting losses stemming from Westinghouse's troubled projects to build nuclear power plants for utilities in South Carolina and Georgia. These multibillion-dollar ventures represent the first new nuclear construction in the U.S. in more than three decades. ... Read More.


Looking to expand its M&A and corporate advisory business, HFF, Inc. (NYSE: HF) has acquired Hentschel & Co., the New York-based boutique investment banking advisory firm headed by Steve Hentschel. Terms of the purchase were not disclosed.... Read More

Developer Todd Palcic  is changing course on redeveloping an old warehouse property he owns on 
Smallman Street, dropping a plan to turn it into a residential condo address to instead renovate it for new office use.

The property is 2908 Smallman, now a red brick, three-story structure across from the Strip District Lofts and next to the EQT compressed natural gas station... Read More.


Whole Foods said Thursday it is not moving forward with plans to build a store on the site of East Liberty's Penn Plaza apartments because of local concerns about the project. 
"We have been listening to our customers and the community, and we understand the concerns about this development. Until these issues have been resolved, we do not plan to move forward with the project," Whole Foods spokeswoman Brooke Buchanan said in a statement. ... Read More.

King's Family Restaurants closed five locations in western Pennsylvania after being unable to reach a new deal over expiring leases and because of the underperformance of those locations.

The restaurants in Imperial, Bridgeville, Harmarville, Wexford and Altoona shut at 7 p.m. Sunday after their 130 employees were told earlier in the day, according to KDKA-TV, which first reported the store closings. A store executive said the closings were unfortunate but necessary after new lease negotiations couldn't be concluded. ... Read More.


The new 1,000-space parking garage on the North Shore will be ready this spring, but not in time for the Pirates home opener April 7.
Mary Conturo, executive director of the city's stadium authority, said Tuesday that the six-floor garage will open to the public in early May after nearly a year of construction.
The massive $24.5 million structure, built in lot 1 next to Heinz Field, will add 600 new spaces on the North Shore and replace 400 others lost to the start of construction last summer.... Read More.

One of Cranberry Township's best-known developers is pursuing a major new opportunity in Potter Township, Beaver County, not far from where Royal Dutch Shell is building its ethane cracker facility.

A new grant application recently posted on the Redevelopment Assistance Capital Program website of the state of Pennsylvania seeks $10 million for a "Potter Township Economic Development Project."... Read More
A new bank is entering southwestern Pennsylvania by merging with one that has served the region since 1901 .

Mid Penn Bancorp Inc., based in Millersburg, Pa., and The Scottdale Bank & Trust Co., of Scottdale, jointly announced a merger agreement on Wednesday... . 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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