SHARE:  
Join Our Email List
PITTSBURGH COMMERCIAL REAL ESTATE

WEEK #45

Back at it: Oxford Development Company proposes 240-unit apartment building in the Strip


Under its new leader, Oxford Development Company is turning to residential for its next big project in the Strip District.


On tap is a six-story, 240-unit apartment complex on Railroad Street between 27th and 28th streets in the neighborhood. Oxford will brief the Pittsburgh Planning Commission on the proposal Tuesday.


The project will be the first out of the box under the leadership of Shawn Fox, the new Oxford president and CEO who took over for Steve Guy this fall...Read More

Prepping for the future: Central Catholic High School plans new student center, other improvements in 10-year master plan


As it approaches its 100-year anniversary, Central Catholic High School is making some big improvements to its Oakland campus as part of a 10-year master plan.


School officials briefed the Pittsburgh Planning Commission on the upgrades Tuesday, the most notable of which involves construction of a new student center that would replace an existing gymnasium.


The proposed changes represent some of the most noteworthy improvements to the campus since the all-boys college prep school on Fifth Avenue opened in 1927...Read More

Allies for Health + Wellbeing announces move to 211 Tower in East Liberty


An East Liberty medical clinic has signed a lease at a new home.


Allies for Health + Wellbeing is relocating to 211 Tower, an office building in East Liberty, according to a release from Hanna Commercial Real Estate, which represents the property. Currently located at 5913 Penn Ave., Allies is expected to move before the end of 2025.


"In order to improve health and wellbeing, Allies for Health + Wellbeing (formerly Pittsburgh AIDS Task Force) provides integrated medical care, supportive human services and community-based education for individuals living with, or at risk of HIV, viral hepatitis or sexually transmitted infections," said Mary Bockovich, CEO for Allies in a statement. "Building on nearly 40 year of experience, Allies provides the region's most comprehensive treatment and support for people living with HIV, as well as primary and specialty medical care for the community, regardless of HIV status."...Read More

Sources: New owner of Newbury Market site in negotiations to land Giant Eagle Market District store


With a destination Bass Pro Shops moving forward at a long-awaited brownfield redevelopment in South Fayette, the new ownership of Newbury Market is now working to land its next deal.


That very well may be a grocery store.


Sources familiar with the deal indicate that Blue Sky Acquisition LLC, an investor group led by Craig Cozza, is in progressing negotiations with Giant Eagle to establish a 65,000-square-foot Market District store at Newbury Market, a long-unrealized retail plan that currently consists of a BJ's Wholesale Club along with Top Golf, a Tesla store and a few others...Read More

Here's how much empty office space is costing Pittsburgh


Office vacancy rates are at their highest point in 45 years. Commercial real estate insiders predict one-quarter of existing American office space could be vacant by early 2026. And currently, 11 major metros have at least $1 billion worth of empty space.


In Pittsburgh — one of the 25 markets with the most empty office space value in the nation — vacant office space is one part of a complicated downtown, with lower classes of office space particularly impacted. Property owners are dealing with challenges from lenders and taxing bodies have seen the assessed values of downtown mainstays slashed in half and even more at times...Read More

Holiday spending in 2024 may hit record $989 billion. What will it mean for real estate?


Despite negative consumer sentiment about inflation and the cost of goods, the 2024 holiday shopping season is largely expected to be a robust one.


The National Retail Federation is predicting winter holiday spending this year will grow between 2.5% and 3.5% compared to 2023, or between $979.5 billion and $989 billion in November and December. Retail sales in those months last year totaled $955.6 billion.


If those expectations pan out, 2024 would be another record year for holiday spending. But experts say this year's holiday sales may not significantly move the needle for retail real estate — because the market for space is so tight...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.
SVN | Three Rivers Commercial Advisors is a leading commercial real estate investment brokerage firm located in Pittsburgh, Pennsylvania. SVN | Three Rivers Commercial Advisors provide best-in-class service to the commercial real estate community. Through an individualized approach and customized marketing strategy - SVN | Three Rivers Commercial Advisors strives to outperform its competition and deliver unprecedented value to our clients.

All SVN® offices are independently owned and operated.
Facebook  Twitter  Instagram  Linkedin  

SVN - Three Rivers Commercial Advisors | 6 PPG Pl Suite 550 | Pittsburgh, PA 15222 US

Unsubscribe | Update Profile | Constant Contact Data Notice

Constant Contact