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Pittsburgh remains a bargain for real estate in a SmartAssetstudy released Tuesday.
Pittsburgh is No. 3 on the list of "Most Undervalued Cities," a ranking that the Steel City topped last year. This year, Smart Asset said, Pittsburgh's value per square foot is $82.08 compared to projections of $240.09. Only Charleston, S.C. ($106.75 actual, $294.40 projection) and Augusta, Ga. ($55.58 actual, $213.95 projection) are better values, according to SmartAsset's analysis of Zillow pricing.
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German conglomerate Siemens Corp. plans to expand its presence in Western Pennsylvania and move into part of the former Sony plant in East Huntingdon, the plant's landlord announced Wedne
sday.
Siemens Energy division will take over more than 230,000 square feet of the 2 million-square-foot plant and construct a new 60,000-plus-square-foot building on the RIDC Westmoreland site.
Siemens expects to employ about 200 people at the facility when it opens in 2018.
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The city of Pittsburgh plans to spend more than $5 million in a bid to simplify and speed up its system for approving permits, an issue that has been the topic of growing complaints from developers and others - including a local attorney who went to court because of frustration over delays.
The permits are key to anyone doing construction in the city, from the big developers doing work Downtown, in the Strip District and other hot neighborhoods, to the resident who wants to build an addition to a home. Without the permit, projects sit and money can be lost.
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Aldi is sinking more than $36 million into its Pittsburgh-area stores as the German deep discount grocery chain works to expand its foothold across the country amid tightening competition in the grocery business.
The first mark of Aldi's investment was the reopening of its remodeled store in Robinson on Wednesday.
The upgrade includes wider aisles, as well as more fresh produce, meat, dairy and bakery items. The building also features more energy efficient lighting and refrigeration.
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The Frick Pittsburgh on Wednesday announced the approval of a new strategic plan that will guide the museum for the next five years.
The strategic plan includes a new acquisition program and a new mission statement: "Continuing the legacy of Helen Clay Frick
, we will offer one of the best experiences of art, history, and nature in a welcoming environment that inspires and delights."
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Gabriel Perlow was picking up his daughter from summer camp while listening to the State Department of Health news conference on his phone, all to determine whether his new company - PurePenn LLC - would receive a license to grow and process medical marijuana in McKeesport.
"They didn't say at the news conference, but then my phone blew up with congratulations," he said, describing how he learned that PurePenn will join AgriMed Industries of PA LLC in Carmichaels, Greene County, as the only two licensed medical marijuana growers in the southwestern district, one of six districts in the state.
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Bentley World-Packaging is selling locations in Pittsburgh, Cleveland and Cincinnati, the company said.
Milwaukee-based Bentley, a packaging and shipping firm, is selling the locations to Deufol Sunman LLC, a contract packaging division of German parent company Deufol SE. Bentley will continue operating full-service facilities in Wisconsin and Maryland.
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OneJet will launch service from Pittsburgh International Airport to Providence, R.I., and Nashville, Tenn., this summer, the airline announced Thursday.
Nashville flights are set to launch July 12, and the Providence flights are set to launch Aug. 23, the release said.
The airline is under an agreement with the airport to announce service to 10 destinations by the end of this year. The two new flights bring the total announced so far to seven
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The largest natural gas basin in the U.S. will be home to the largest natural gas producer when two of southwestern Pennsylvania's biggest oil and gas drillers become one in a $6.7 billion acquisition.
EQT Corp., a Downtown-based firm, is buying Canonsburg-based Rice Energy Inc. in a deal that will put EQT ahead of ExxonMobil in gas production. It will also draw EQT's focus even more to Washington and Greene counties, where much of Rice's acreage zigzags EQT's.
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A New York-based media company is
acquiring The Beaver County Times, The
Ellwood City Ledger, and three other newspapers for $17.5 million, while the Times' parent company also is selling the Uniontown Herald-Standard to a media company owned by Pittsburgh Pirates owner Robert Nutting.
New Media Investment Group (NYSE: NEWM), which owns the Gatehouse Media chain of newspapers in 36 states, announced Monday it was buying The Beaver County Times, four other newspapers and the digital media operation Calkins Digital Group from family owned newspaper company Calkins Media.
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This weekend, several thousand train aficionados, many with families in tow, will descend on a city rich with railroad history for the 63rd National Train Collectors Association's annual convention.
The association's Fort Pitt Division Inc., will host the event June 25 to July 2 at at the Wyndham Grand Hotel in downtown Pittsburgh.
"It's both business and pleasure for our members," says George Starz, 53, of Friendship, convention co-chair.
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Open to the public Saturday, July 1st, stop by and see our research analyst, Kayla Semroc as she assists with registration, and to view various toy train vendors and displays!
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The word of the day in Beaver County is "safety."
At least that seems to be the case according to Shell Chemicals Project Director Anca Rusu
, speaking publicly about the cracker plant, which Royal Dutch Shell is building in Beaver County, at the Northeast U.S. Petrochemical Construction Conference at Station Square.
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Ebb Therapeutics Inc., a medical device company led by former executives of Respironics, has reached a deal to establish a new 8,000-square-foot office at 2555 Smallman St., one of Oxford Development Co.'s office properties at 3 Crossings.
The company is expected to move to the building from its established headquarters in Oakmont soon
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The Soffer Organization has turned to a top New York real estate development, leasing and management firm to inject new life into the SouthSide Works complex on the South Side.
In a statement, Soffer said it is in the process of creating a joint venture with Thor Equities "for ongoing ownership and management" of SouthSide Works, the 34-acre mixed use office, residential, retail and entertainment development built on the Monongahela riverfront at the site of a former steel mill.
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The Rail~Volution conference has been a national leader on engaging communities to improve public transportation and development centered on transit, and to create walkable and bikeable neighborhoods. For more than 20 years, it has set up shop in booming cities that have experienced decades of growth in their respective regions.
But come 2018, Rail~Volution is coming to Pittsburgh, which is experiencing signs of a rebound, but the city and its region are still shrinking city. Dan Bartholomay, CEO of Rail~Volution, said at a June 20 press conference in the Steel Plaza T station that Pittsburgh was picked for its commitment to public transit and its upswing.
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Building supplies retailer 84 Lumber announced a corporate reorganization that it said will help the company expand across the country.
The company will have four "targeted divisions," in the Central, Mid-Atlantic, Southeast and Southwest portions of the country. The Central Division, for instance, will have 90 stores in Pennsylvania, New York, West Virginia, Ohio and Virginia. It's the largest number of stores in a division, according to a news release from 84 Lumber.
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The former Johnston Elementary School building in Wilkinsburg will soon be converted into a community and small-business space, pending the approval of a judge Thursday.
The Wilkinsburg School District has agreed to sell the school building to Community Forge LLC. The nonprofit aims to rehabilitate the old the school building and turn it into a center that offers not just offices but an event space, after-school programs, a cafe and more
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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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