High-Tech Firms, New Development Eyeing East Liberty
East Liberty is emerging as a promising location for businesses catering to the advanced technology industry. Located within a few miles of Oakland’s university community, and even closer to the upscale residential districts of Shadyside and Highland Park, East Liberty has a flourishing start-up scene, and is poised to become a hotbed for Pittsburgh’s high-tech community.
“As a resident of the East End, I witness East Liberty’s transformation every day,” said Gregg Broujos, managing director and founding principal at Colliers International | Pittsburgh. “The energy and vibe that you get in the East End is really incredible. You have to spend some time in East Liberty to truly appreciate how far it has come.”
Google’s presence in the East End, at Bakery Square, and their growth in Pittsburgh, has helped bring world-class computer scientists and engineers to the region. Shortly after their East End move-in, Google expanded by 70,000 SF to accommodate a growing talent pool. Their presence has helped retain more of Pittsburgh’s homegrown talent, while drawing the best and brightest from across the country.
“It’s all about momentum,” said Anthony Pantoni, an associate at Colliers International | Pittsburgh, representing properties for both sale and lease in East Liberty. “As empty storefronts disappear, the vibrancy of the East End community continues to grow. We see nothing but positive growth for the area.”
In just the past few years, East Liberty has experienced a commercial development renaissance, and continued development is expected. Until recently, the Highland building and Wallace building located on Highland Avenue have been empty and eyesores for years. But, as reported by CBS Pittsburgh, new development is expected soon. Ground has broken for what will be 127 market-rate apartments, retail space and a 180-car parking garage on Highland Avenue between Penn Circle and Penn Avenue. The first rental units in the new project are scheduled to be available by the spring of 2013. Plans for an independent boutique hotel, Hotel Indigo, seem to also be moving forward for the area.
The East End has rapidly evolved through economic transformation. The emergence of new development paired with high tech industry businesses filling office space will positively impact East Liberty’s presence in Pittsburgh as a place to relocate, expand, and stay. In addition to accommodating businesses in advanced technology, East Liberty is becoming increasingly attractive to big box retailers as well as up-and-coming restaurants.
Posted on May 3, 2012, in Economy, Office, Retail and tagged Commercial Development, Leasing, Pittsburgh Commercial Real Estate, Tenants. Bookmark the permalink. Comments Off on High-Tech Firms, New Development Eyeing East Liberty.