Monthly Archives: June 2011
Source: Colliers International via PR Newswire
Colliers International has bolstered its U.S. footprint with the addition of Pittsburgh Commercial Real Estate Inc., a leader in the Western Pennsylvania commercial real estate industry.
“Our U.S. expansion has been strategic, prioritized by identifying partners that will help us deliver the best client experience in the industry,” said Dylan Taylor, chief executive officer of Colliers International in the U.S. “Pittsburgh Commercial is the latest example of how we continue to attract the most culturally-aligned firms and the best professionals the industry has to offer.”
According to Gregg Broujos, Managing Director and Founding Principal of Pittsburgh Commercial, combining with Colliers International was a logical move for a number of reasons.
“We are experiencing tremendous growth at this point in our firm’s history and we want to further our growth with our Colliers colleagues,” he explained. “Our clients will continue to rely on our local market expertise while benefiting from the national and international opportunities and resources of Colliers International.”
Downtown Pittsburgh Booms With New Construction, Rising Office Rents; ‘More and More Attractive’
Source: The Wall Street Journal
Based on its booming new construction projects and rising office rents, The Wall Street Journal recently shined the spotlight on the Steel City. The Wall Street Journal reports that the city of Pittsburgh has transformed into one of the most resilient office-rental markets in the U.S., prompting a flurry of building sales, as some longtime owners take profits.
As Exclusive Sublease Agency and Tenant Representative, Colliers International | Pittsburgh was hired to market and sublease the office space for Genilogix, LLC, and provide an alternative office space lease option for relocation within the Greater Central Business District submarket.
Jessica Jarosz, Associate at Colliers International | Pittsburgh, said of the assignment, “We were tasked with targeting prospects to sublease our client’s existing office space with three years of remaining term, while the space continued to be occupied by Genilogix. We were able to successfully coordinate the timing of sublease and new lease execution, while up against shifting market conditions as well as varying size and specific location requirements.”