PITTSBURGH, PA - Given this property's tortured history, it might be best to consider it cursed and avoid it. But with its prominent Mt. Washington, location and the spectacular view it provides, people still see potential on what some might view as a poisoned piece of real estate.

The parcel sits next to the Monongahela Incline on Grandview Avenue. It once housed the Edge restaurant, which closed in 1979 and triggered what has become a nearly four-decade, thus-far futile attempt to repurpose the property... Read More.

Visitors to Pittsburgh can choose from hundreds of hotels, Airbnbs and bed and breakfasts when they come into town. While there are also a few hostels, the new South Side Traveler’s Rest is the only licensed hostel within city limits; meaning that it meets the regulations of a traditional hotel.

South Side Traveler’s Rest is slated to open in Easter Sunday in the historic A.M. Byers building on South 6th Street on the South Side. The dorm-style space will be able to accommodate up to 35 travelers... Read More.

FirstEnergy plans to close three of its nuclear power plants, including one in Beaver County, within the next three years.

FirstEnergy officials made the announcement in a March 28 release .

They will close the Beaver Valley Power Station in Shippingport and two plants in Ohio as well.

The company cited weak power prices, insufficient results from recent capacity auctions, and weak demand forecasts. .. Read More.

A prominent Squirrel Hill development site is back on the market after the group behind a proposed $40 million residential and retail project failed to close on the real estate.

Equity Real Estate began marketing the property at Murray and Forward avenues earlier this month after the owner, Alderson-Forward Properties LLC, got tired of waiting for the group, led by local retail broker Herky Pollock, to buy it... Read More.

The University of Pittsburgh will soon have a central home for all of its entrepreneurship activity on campus. 

Trustee Bob Randall announced Thursday afternoon that the university will soon open the “Big Idea Center,” a physical incubation space and hub for mentorship. The Randall family is donating $2 million in seed funding toward the effort.

“We now have an address, we have a home,” he said to a few laughs from the crowd at the Charity Randall Theatre in Oakland during the university’s Randall Family Big Idea Competition... Read More.

Mt. Lebanon's Ron Molinaro, founder and chef of Il Pizzaiolo, with business partner Bob Wolfinger plans to acquire three dining establishments from Yves Carreau’s Big Y Group: NOLA on the Square (24 Market Square), Poros (2 PPG Place) and Perle (25 Market Square), the Pittsburgh Post-Gazette reported.

Molinaro told the P-G that the deal is not official but "all parties are in agreement." The groups are in the process of transferring the liquor license... Read More.

East Carson Street is the most dangerous road in the region and the sixth most dangerous road in the state, PennDOT officials explained at The Brashear Center last week.

The officials utilized crash data gathered from 2007-2011 in making the determination. During those years, there were 474 crashes, three fatalities, 11 major injuries, 86 pedestrian crashes and three bicycle crashes. .. Read More.

A new robotics company has bought the former Island Studios property in McKees Rocks, bringing new activity to the town’s business district after the film production facility closed down and the property went back to its lender a few years ago.

Mike Zappa, CEO for Baker Young Corp., confirmed that an affiliate of Citizens Bank recently closed on selling the 22,600-square-foot property at 524 Island Ave. to Phantom Robotix, a local robotics startup... 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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