Category Archives: Tenant Representation
Patrick Sentner, SIOR, Founding Principal for Colliers International | Pittsburgh was recently inducted into the Society of Industrial and Office Realtors® (SIOR) Board of Directors to serve a two-year term as a Board Member-at-Large. The induction took place during the SIOR Fall World Conference in New York City.
Although Sentner has experience in many different facets of the commercial real estate industry, he has spent the majority of this career focusing on corporate services and tenant representation. Sentner works closely with his clients, whether they are a start-up, non-profit or Fortune 500 corporation, to design and execute strategic plans that address current and future real estate needs.
Sentner has received recognition for his accomplishments including multiple CoStar Power Broker Awards (Office and Industrial), Colliers International Everest Award for Top Performance in 2011, 2012, 2014 and 2015, Winner of the NAI Global Chairman’s Award for Performance in 2010, and Top Performer at the Silver Elite level based on production in 2007, 2008, and 2010, among many others awards.
“Within my first year of commercial brokerage I set a goal of becoming an SIOR as soon as possible,” explains Sentner. “Now decades later I am blessed to be serving on SIOR’s Board of Directors.”
Patrick J. Sentner, SIOR, Founding Principal at Colliers International | Pittsburgh, was recently elected to a two-year term on the SOCIETY OF INDUSTRIAL AND OFFICE REALTORS® (SIOR) Board of Directors. He will assume his position on the Board at the SIOR Fall World Conference in New York City in October.
Mr. Sentner has been involved in the commercial real estate industry for more than 25 years, with a focus on local office user representation and national Corporate Services representation. Prior to helping to open Colliers International | Pittsburgh, Mr. Sentner was a Founding Principal at NAI Pittsburgh Commercial, and Vice President at Oxford Development Company. He has an extensive history handling the local and national real estate requirements of companies in a wide variety of industries ranging from medical to technology to insurance to manufacturing.
After becoming a member of SIOR nearly 15 years ago, Mr. Sentner has been very active in the organization locally and nationally. He has served as President of the Western Pennsylvania Chapter, Director of the Mid-Atlantic Region, and a member of the National Budget and Finance Committee. Currently, Mr. Sentner is on the Board of Trustees for the SIOR Foundation and serves as the Treasurer for the Western Pennsylvania Chapter.
“It’s an exciting opportunity to join SIOR’s Board of Directors. I look forward to working with the leadership and the Board to pursue new and existing organizational initiatives,”
SIOR is a global professional organization that certifies commercial real estate service providers with the exclusive SIOR designation, based on achievement, knowledge, accountability and ethical standards. Only the industry’s top professionals qualify for SIOR. Today, there are more than 3,000 members in 630 cities in 34 countries. For more information, visit http://www.sior.com.
Office Market May be Nearing Peak
At the conclusion of 2015, Pittsburgh’s office market is beginning to show
signs of peaking. Overall office vacancy rates for the 4th quarter increased
slightly over 3rd quarter results from 8.1% vacant to 8.3% vacant at year
end. Rental rates for office space in all submarkets and classes decreased
slightly in the 4th quarter to $20.51/sf, from $20.55/sf in the 3rd quarter, or
a 0.02% decrease.
Pittsburgh’s CBD had a few notable transactions in 2015. PNC moved
into its new Platinum LEED Certified 800,000 SF office tower located at
300 Fifth Avenue in the 4th quarter. PPG Industries, Inc. maintained its
headquarter presence at One PPG Place, renewing approximately 300,000
SF there. In November 2015, US Steel Corporation announced it would not
be moving forward with a planned “300,000 SF Build-to-Suit” at the site of
the former Civic Arena, instead, electing to extend its lease commitment at
600 Grant Street for one more year through the summer of 2018. Millcraft’s
Tower Two-Sixty, a mixed use development including office, retail and a
hotel adjacent to the vibrant Market Square, signed three office leases and is
closing in on 80% occupancy prior to the planned Spring 2016 completion
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