A regional site development fund has agreed to loan nearly $7 million to help an industrial park project in Beaver County get ready for possible distribution and manufacturing facilities.

And though it’s still clearing the 100-acre site and has yet to dig utility lines, the site’s developer has Royal Dutch Shell’s ethane cracker plant in mind... Read More.

The famous burnt almond torte is coming to Westmoreland County.

Prantl's Bakery says it is expanding to Greensburg with a new location on Grove Street.

At first, the store will not sell baked goods to the public. It will make the items on-site for delivery to the other Prantl's locations in Shadyside and Downtown Pittsburgh.... Read More.

Boston-based Beacon Communities has acquired National Development Corp., an Oakland-based company with a portfolio valued at over $250 million.

The acquisition of National Development, which was founded in 1969, included 59 properties built in the 1970s and 1980s. Beacon’s strategy is to refinance and rehabilitate many of the properties in the portfolio using low-income tax credits so that the properties continue to serve as high quality affordable housing.... Read More.

The owner of the Practice Golf Center in Jefferson Township has confirmed that he is pursuing a deal to sell a portion of the complex to UPMC for a new hospital plan.

Frank Veltri, a principal at VCS Associates Inc., through which the complex is owned, said that UPMC has a 25-acre portion of the property now used as a par-3 golf course under agreement. He added that the driving range, pro shop and miniature golf course are not involved in the sale to UPMC, which has yet to close... Read More.

The long-established Sears Outlet store in the tenth ward of Lawrenceville has been sold, putting a more-than-14-acre parcel on the Allegheny riverfront in the hands of an investor group.

A spokesman for the Sears Outlet division of Sears Holdings Corp. said the Lawrenceville store remains under lease for the foreseeable future and will continue to operate.... Read More.

Fort Willow Developers has bought the former Kaleisoscope Cafe restaurant that neighbors its mixed-use redevelopment in Lawrenceville.

Alex Simakas, principal of Fort Willow, confirmed that he has closed on buying the property, a house redeveloped into a restaurant at the corner of 43rd and Willow Streets in Lawrenceville’s 9th ward..... Read More.

Commercial real estate financier Walker & Dunlop Inc. has closed on a $14.9 million construction loan for an Even Hotel, which will be located on the upper floors of the old Kaufmann’s department store, Downtown.

The 160-room hotel is part of a master redevelopment of the iconic 13-story building, called Kaufmann’s Grand on Fifth, which will include retail, hospitality, multifamily and office space. Reception Hotels and Resorts LLC, the borrower, negotiated the acquisition of the fifth and sixth floors of the former department store for the hotel.... Read More.

PITTSBURGH (KDKA) – Pittsburgh’s North Shore Drive has developed into exactly what the Pirates, Steelers and Continental Development envisioned more than 15 years ago.

Now, another piece of the North Shore puzzle has come into focus with the announcement of a Pittsburgh headquarters for SAP Ariba.

The new building will go up in Lot 3 between the StarKist building and the Fort Duquesne Bridge... Read More.

Allegheny Health Network is pulling out of its corporate offices on the North Shore as part of a new consolidation effort that will make available a sublease of most of the building at 30 Isabella Street.

It’s a move that will bring about 700 employees out of the North Shore building into Highmark Health's offices downtown.... Read More.

Black Box Corp. is putting its headquarters campus in Lawrence up for sale and considering an office move.

The company has listed its real estate holdings near Southpointe for sale with the Pittsburgh office of CBRE, which has begun marketing the properties..... 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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