Author: Colliers | Pittsburgh
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Q4 2013 Pittsburgh Office Market Report
Pittsburgh’s Office Market Continues to Tighten With the rest of the country’s real estate portfolio just beginning to recover, the Pittsburgh office market has seen unprecedented success in terms of its vacancy rate. The overall vacancy rate for the market, at 8.1 percent, is one of the lowest in the country, but only begins to…
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Q4 2013 Pittsburgh Investment Newsletter
Family Office (FO) Commercial Real Estate Services This article is the first of a series that presents various aspects of real estate investment from a comprehensive wealth management perspective. Various relevant topics will include basic real estate asset-class investment characteristics, varying inflation hedging capabilities of public vs. private real estate investments, the market composition of…
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Colliers International | Pittsburgh Announces Elmhurst Group’s Breaking Ground on Schenley Place
Elmhurst Group broke ground December 6, 2013 on Schenley Place, a 105,000 square foot “Class A” office building with seven stories and three levels of underground parking. Schenley Place is located on Bayard Street and Ruskin Avenue in Oakland. Elmhurst Group signed a long-term land lease with First Baptist Church of Pittsburgh for this project, which is…
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Pittsburgh possesses beauty, brains and a new economy
Sources: Pittsburgh Business Times, Chicago Tribune, Huffington Post, Pittsburgh Post Gazette Chicago Tribune travel writer Josh Noel described Pittsburgh as “one of our nation’s most underrated cities, with a beauty as breathtaking as it is obvious” in his January 4th article titled “New meets old in Pittsburgh.” While this is true to anyone who has…
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Q3 2013 Pittsburgh Investment Newsletter
Third Quarter Leasing and Sales Activity Remains Strong The Pittsburgh market continues to live up to the national hype, posting strong gains in all product types while sales continue to remain solid. The OFFICE MARKET for the Third Quarter of 2013 saw an overall vacancy rate of 8.1% with a quoted rental rate at $18.84.…
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Q3 2013 Pittsburgh Industrial Market Highlights
Pittsburgh Earns Reputation of Conservative Market The third quarter continued the trend established in the last several quarters. Slow and steady growth with a continuing decline in the vacancy rate – particularly among class A and B inventory. Deal activity witnessed a marginal increase resulting in a drop in overall vacancy from 8% to 7.9%.…
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Q3 2013 Pittsburgh Market Place Highlights
Local Market Update Pittsburgh’s retail vacancy rate increased in the third quarter 2013, ending the quarter at 4.3%. Over the past four quarters, the market has seen an overall decrease in the vacancy rate, with the rate going from 4.7% in the fourth quarter 2012 to 4.4% at the end of the first quarter 2013,…
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Q3 2013 Pittsburgh Office Market Highlights
Pittsburgh’s Office Market Strength Continues The market for office space in downtown Pittsburgh and its surrounding suburbs remains as vibrant and tight as ever. At 91.9%, the overall occupancy rate certainly surpasses the national average of just over 88%, and rental rates have climbed to $18.84 per square foot. Development continues to surge as well,…
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Colliers International | Pittsburgh Appoints Lynn Williams as Vice President of Investment Services
Lynn Williams joins Colliers International | Pittsburgh as Vice President of Investment Services. She will be assisting in the acquisition and disposition of investment properties, including multi-family, office, retail and industrial buildings. Williams has been involved in the commercial real estate industry for more than 25 years with a focus on investment management/advisory, asset management…
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Colliers International | Pittsburgh Announces the Gateway Center Complex’s Leasing Activity
-The leasing activity at Gateway Center Complex remains strong with new & existing tenants– Pittsburgh, PA, October 16, 2013 – Colliers International | Pittsburgh is pleased to announce that leases have been signed with six new tenants in the past five months at the Gateway Center Complex. The new tenants include Pittsburgh Human Resources Association, LM Machinery…
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