Colliers International | Pittsburgh Assigned as Exclusive Listing Agent for 102 Park Road
-Warehouse totaling 25,995 SF available in Cranberry Township–
Colliers International | Pittsburgh is pleased to announce that it has been assigned as the exclusive listing agent for the sale of 102 Park Road in Cranberry Township.
Patrick Tracy SIOR, Vice President of Industrial Brokerage and Anthony Pantoni, Industrial Services Specialist at Colliers International | Pittsburgh are representing the property.
The property was owned by and is the former location of Thyssen Krupp Copper & Brass Sales.
The 25,995 SF warehouse is situated on 3.5 acres in Cranberry Township, and is in close proximity to the PA Turnpike and Interstate 79. The warehouse has 20’ clear ceiling height and two (2) internal docks with levelers. Additionally, it is equipped with two (2) three (3) ton cranes and a locker room. Included in the square footage is 3,200 SF office space.
“It is always a difficult situation when companies merge, downsize or even shut their doors,” said Patrick Tracy SIOR, Vice President of Industrial Brokerage at Colliers International | Pittsburgh. “The reorganization of Thyssen Krupp has created a vacancy in a very tight Cranberry Market that we feel fits many clients needs. As a result we don’t feel the property will be vacant for long.”
Pittsburgh’s Overall Vacancy Rate Dips Below 8%
Source: Q4 2012 Pittsburgh Office Market Report
During the fourth quarter of 2012, Pittsburgh’s overall office vacancy rate decreased to 7.9%, continuing an ongoing positive trend. Behind the stability of Pittsburgh’s banking sector, the strength of local health insurance companies and the under-the-radar growth of many high-tech companies, Pittsburgh continues to be one of the strongest office markets in the United States.
The strength of the overall Pittsburgh office market is not limited to just a few submarkets. While most of the focus has been on the Central Business District, Cranberry and Southpointe, the other submarkets continue to perform well. The Parkway West is as tight as it has been since the “dot-com” days due to growth in both energy and mortgage service companies. In addition, the Parkway East/Monroeville area, while the weakest of the various submarkets, with a 10.5% overall vacancy rate, is actually strong compared to historical levels.
“The Pittsburgh office market is as strong as we have seen it since the dot-com days of the late 1990’s,” said Patrick Sentner SIOR, a founding principal at Colliers International | Pittsburgh. “Only this time the overall fundamentals appear to be much more sound.”
Colliers International | Pittsburgh Represents Talktime Speech Therapy as Tenant
Secures 2,202 SF for expansion to new office at Two Landmark North in Cranberry
Colliers International | Pittsburgh is proud to announce that Talktime Speech Therapy will be opening a second office, located at Two Landmark North, 20397 Route 19 N, in the heart of Cranberry Township. Talktime Speech Therapy also has an office in Chippewa, PA.
Edward R. Lawrence III, Associate at Colliers International | Pittsburgh, was engaged as the Exclusive Tenant Representative to Talktime Speech Therapy, securing the new 2,202 square foot office.
Jeff Bennett of Landmark Properties Group represented the landlord in the transaction.
“We were tasked with identifying a unique space that offered an accommodating environment for an office space within a submarket that has a low vacancy rate,” Lawrence said of the assignment. “We secured a five year lease for Talktime Speech Therapy at Two Landmark North in a space that features new turn-key construction and excellent access and visibility.”
“This new office will provide us with a convenient and very functional environment to treat the speech and language needs of children in Cranberry and the Butler County Area,” said Amy Shope, President and Owner of Talktime Speech Therapy. “We are particularly excited about the ability to layout the space to our specifications.”
The new office is scheduled to open in June of this year.