New Skyscraper Could Be Built In Downtown Pittsburgh
Excitement is growing for the possibility of new downtown Pittsburgh development. KDKA-TV’s Jon Delano reports Oxford Development, the owner of the building across from the Macy’s that stretches along Smithfield between Fifth and Forbes, has promised a major announcement that could mean more top-of-the-line Class A office space opening up in downtown Pittsburgh.
“The market, as far as office space particularly Class A, is as tight as it’s been in 20 years,” said Ed Lawrence MBA, Associate at Colliers International | Pittsburgh. It’s very difficult to find large contiguous blocks in downtown.” KDKA-TV’s Jon Delano reports part of the shortage is because some office buildings, like the old State Office Building, are being converted to residential, another sign of downtown growth. “From Market Square to Fifth and Forbes, the perception is changing,” says Lawrence. “It’s amazing the turnaround and renovation that is taking place in that part of town.”
Read the full story, and see Ed Lawrence, Associate at Colliers international | Pittsburgh, weigh in on possibility of a new skyscraper in downtown Pittsburgh.
Colliers International | Pittsburgh offers flexible, customized solutions to meet and exceed client goals, including brokerage, consulting, corporate services, facility and asset management, investment services, project management, valuation services, marketing and market research to individuals, business and investors. The firm has 14 brokers plus support staff and approximately 10 million square feet of active listings.
About Colliers International
Colliers International is the third-largest commercial real estate services company in the world, with over 12,300 professionals operating out of more than 520 offices in 62 countries. A subsidiary of FirstService Corporation (NASDAQ: FSRV; TSX: FSV and FSV.PR.U), it focuses on accelerating success for its clients by seamlessly providing a full range of services to real estate users, owners and investors worldwide, including global corporate solutions, brokerage, property and asset management, hotel investment sales and consulting, valuation, consulting and appraisal services, mortgage banking and research. Commercial Property Executive and Multi-Housing News magazines ranked Colliers International the top U.S. real estate company. The latest annual survey by the Lipsey Company ranked Colliers International as the second-most recognized commercial real estate firm in the world.
Posted on May 24, 2012, in Office and tagged Class A, Commercial Development, Ed Lawrence, Jon Delano, KDKA-TV, Leasing, Pittsburgh Commercial Real Estate. Bookmark the permalink. Comments Off on New Skyscraper Could Be Built In Downtown Pittsburgh.