Rig count nears year-to-date record in Pennsylvania

Pennsylvania's rig count is within one of its highest point all year.

Baker Hughes'  latest rig count counted 34 rigs working in the state over the past week, up one from the beginning of the month and only one away from 2017's high of 35 recorded in mid-May ...  Read More .

Mansions on Fifth reopens with new menu, furnishings

As you approach the Mansions on Fifth Hotel, it's clear something has changed.
Flags representing the heritage of the property's owners fly over a black wrought-iron fence, a new paved driveway and fresh landscaping. 
"Before, there was a gravel driveway which turned very muddy when it rained," said John Graf, CEO of the Priory Hospitality Group.. . Read More
Coal makes comeback in Pennsylvania

Coal production is on the increase in the U.S.

The Associated Press, citing U.S. Energy Department data, reported that year-to-date production is up 19 percent. Three states are responsible for the increase, including Pennsylvania, West Virginia and Wyoming. That's after several years of decline including in 2016, when worldwide coal production saw its biggest decline ever. .. . Read More.

Children's Hospital named one of nation's best

Children's Hospital of Pittsburgh of UPMC has been ranked as one of the top in the country by U.S. News and World Report.

The hospital was ranked No. 9 in the 2017-18 Best Children's Hospitals Honor Roll by the publication, which put Boston Children's Hospital and Children's Hospital of Philadelphia at the top of the list. ... Read More.

Highway project receives approval

The Mon-Fayette Expressway project is getting a green light.

The Southwestern Pennsylvania Commission on Monday voted to approve the $2.16 billion plan to complete the toll highway from Route 51 in Jefferson Hills to Interstate 376 in Monroeville, KDKA-TV reported. Work on the project had been paused in March while a further study was done. . ..   Read More.

Direct flights between Pittsburgh and Erie could be on the horizon

A regional airline is considering adding service to Erie from Pittsburgh International Airport - a connection that hasn't existed since 2008. 
Memphis, Tenn.-based Southern Airways Express will decide late this year or early next year whether to add the flights, said Mark Cestari, executive vice president of development. 
The airline recently met with about 50 CEOs in Erie to gauge interest in the service, Cestari said ... Read More.

MSA to acquire maker of firefighter protective gear

MSA Safety shares rose in early trading Wednesday after the Cranberry safety products company said it has a definitive agreement to acquire Globe Holding Co., a maker of protective clothing and boots for firefighters, for $215 million in cash.
Globe has annual revenue of approximately $110 million and it's based in Pittsfield, N.H. It has 420 employees at plants in Pittsfield, Ada, Okla., Auburn, Maine and Fairfax, Va . .. Read More.

Chatham opening new small business center for women

Chatham University is opening a new center for women business owners that will include a hands-on design lab for makers, digital training and financial literacy programs.
The new Entrepreneurship Hub will be housed at Chatham's Eastside building on Penn Avenue near Bakery Square.
Funding totaling more than $250,000 is being provided by the Claude Worthington Benedum Foundation, the PNC Foundation and Google.org. . .. Read More  
Four-alarm fire reported in Market Square

A four-alarm fire broke out this afternoon in Market Square.

The fire, which broke out in Nicholas Coffee Co.'s building, was originally classified as a two-alarm fire. However, it grew stronger and required more manpower than originally expected, according to Pittsburgh Public Safety Spokeswoman Sonya Toler... . Read More.  
New Artificial Intelligence Hub At CMU Aims To Make Pittsburgh A World Leader In AI

Faculty and staff from several schools at Carnegie Mellon University are joining forces in an effort to accelerate the science of Artificial Intelligence.
University leaders said they hope that by pulling together more than 100 faculty through the creation of CMU AI,   it will maintain the university's role as a leader in the field ...  Read More

Ensinger to build new facility in North Strabane

Ensinger Inc., a German plastics manufacturer, plans to build a new facility close to its established North American headquarters in North Strabane, Washington County, instead of at a new mixed-use development in a nearby community, according to the Washington Observer-Reporter.

The company submitted a site plan to North Strabane Township that calls for a new 214,000-square-foot facility that would be an addition to its established operation at 365 Meadowlands Boulevard. The company had been considering moving to a new facility to be built near Tanger Outlets in South Strabane on property owned by Chapman Properties, but William R. Matthews III, Ensinger vice president of administration, told the Observer-reporter in an email that the company opted for an expansion plan that enabled it to stay in the community in which it has operated for 30 years. ... Read More.

Carnegie Science Center receives largest donation in $7.5 million gift from PPG and its foundation

PPG and the PPG Foundation are donating $7.5 million to the Carnegie Science Center, the largest contribution in the North Shore museum's 26-year history.
The gift will go toward the construction of the $29.8 million four-story Science Pavilion - now to be called the PPG Science Pavilion - while also creating new STEM programs and the Rangos Giant Cinema. Funds will be allocated to improve the riverfront trails along that stretch of the North Shore and provide new riverfront signage. .. Read More.

Growing robotics industry helps drive development in Pittsburgh

Pittsburgh's growing robotics industry is helping to drive development and the demand for space in the Strip District and other East End neighborhoods, at times pushing rents even higher than they are in the best Downtown offices.
That's the conclusion of a new report by the Jones Lang LaSalle real estate firm, which credits the robotics and tech industries with playing an influential role in the $6.1 billion in investment that has taken place in areas like Downtown, the Strip District, East Liberty, Oakland, the North Shore, Lawrenceville and the South Side over the last decade. ... Read More.
Sterling prepares to build long-planned office building in Oakland

Sterling Land Co. is again taking steps to build a 105,000-square-foot office building on Craig Street, a project that's more than 20 years in the making.

Dave McSorley, a principal of family-owned Sterling Land, confirmed his company is working to get the Two Sterling Plaza office project off the ground at 225 North Craig Street. It would serve as a companion to Sterling Plaza at North Craig and Bayard Streets. ... Read More.
Pittsburgh medical device group makes its mark in Europe

Five years ago, a trio of recent Carnegie Mellon University graduates hatched an idea for a new pediatric heart valve, spending nights and weekends developing the device in a small storefront they leased in Etna next door to a tattoo shop.
Five years later, they're in a much nicer office space in Lawrenceville, across from Children's Hospital.
More importantly, they've just been handed the keys to hospital surgical suites throughout Europe. .. Read More.
Mediterra Bakehouse expands space at Parkway West Industrial Park

Mediterra Bakehouse will grow from 8,000 square feet to 15,635 square feet in the Parkway West Industrial Park, thanks to a new lease with its landlords, Samdoz Inc.

The company, with 80 employees, has custom-built ovens to make its artisan bread. . .. Read More.
Penn Avenue hotel project gets green light

A new hotel proposed for a site in Bloomfield near Children's Hospital of Pittsburgh of UPMC has received approval from city zoning to go forward.

Michael Krastas , who represents KN Hospitality L LC in its plan for the new hotel, which is slated for 4520 Penn Avenue and some neighboring properties, said the Pittsburgh Zoning Board of Adjustment recently approved the three main variances for the project, the most important being the construction of a fourth floor in a location where three was the limit. . .. Read More.
 
 
Residential construction starts up, nonresidential lagging for May

Residential construction starts surged in May, year-over-year, but nonresidential construction starts continue to lag in 2017, according to a Dodge Data & Analytics report.

The May report showed residential construction starts were up 67 percent over May 2016 to $118.8 million, up from $71.3 million last year. Nonresidential starts in May were $49.4 million, 46 percent below 2016 numbers. For the month, total building starts totaled $168.2 million, up 3 percent from $163.4 million in 2016. It was the third straight month total starts grew, year-over-year, after April starts grew 9 percent and March starts were up 82 percent. .. 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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