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Q2 2012 Pittsburgh Retail Services Market Place Newsletter
The retail services team at Colliers International | Pittsburgh provides integrated commercial real estate retail services to our clients. Locally, we operate
across the ten counties that comprise Western Pennsylvania, and parts of West Virginia. In addition to accelerating the success of our local clients, we are able to collaborate with the Colliers International global retail services team in order to provide maximum returns to our multimarket clients.
Our expert retail professionals offer client’s in-depth expertise, shared sense of initiative, and an unparalleled ability to collaborate and minimize risk while
maximizing results. Together, we provide a full range of real estate services to landlords, tenants, and developers. We offer acquisition and disposition expertise across all property sectors including retail, industrial, office, land, multi-family and hospitality.
“The Pittsburgh retail market is doing well,” said Brad Kelly, Director of Retail Services | Pittsburgh. “Retailers are reporting positive sales and new retailers are coming to our market to consider expansion. I’m looking forward to a positive 4th quarter!”
Read the full Q2 2012 Colliers International | Pittsburgh Retail Services Market Place Newsletter.
Pittsburgh Commercial Real Estate Market Continues to Strengthen
Source: Q1 2012 Pittsburgh Office Market Report Highlights; CoStar
The demand for office space in Pittsburgh has strengthened due to a number of factors positively impacting the overall health of the market. In the Central Business District the “Med’s” (UPMC and Highmark) continue to expand by leasing additional Class A office space, while the “Ed’s” (Point Park University and various Charter Schools) are leasing and improving many former Class B and C properties.
At the same time, energy companies moving into the region to facilitate the Marcellus & Utica Shale natural gas activity continue to lease suburban office space while purchasing or leasing a great deal of industrial product. Since November 2011, Shell Oil has moved into 76,760 SF of now office space, Range Resources has relocated to a new 180,000 SF office building and Talisman has expanded their area presence to 73,000 SF. At the same time XTO and Chevron are counting for large blocks of Class A office space. Even with natural gas prices nearly 50% off of the recent 30 month high, more and more businesses from Texas, Oklahoma and Louisiana continue to search the Pittsburgh area for real estate options.
Read the complete Colliers International | Pittsburgh Q1 2012 Pittsburgh Office Market Report.
“The Pittsburgh region continues to thrive because of our now famous stability in the financial, healthcare and educational sectors along with the maturation of the technology industry,” said Patrick Sentner SIOR, Founding Principal at Colliers International | Pittsburgh. “Opportunities in commercial real estate will continue to prosper as these business sectors, including those attracted by the development of energy resources, gain momentum.”
Pittsburgh No. 3 among corporate facility rankings
Sources: Pittsburgh Business Times, Site Selection Magazine
Site Selection magazine’s roster of the nation’s top metro areas for new or expanded corporate facilities shows Pittsburgh climbing the ranks, from eighth the previous year, to third place in 2011.
The magazine’s ranking counted 141 new corporate facilities in the region in 2011. The activity was enough to place Pittsburgh as No. 1 among large metro markets in the Northeast.
In response to the ranking, the Pittsburgh Business Times reports that Dewitt Peart, president of the Pittsburgh Regional Alliance, said “the strength of the Pittsburgh region’s real estate market has led to increased investment and there are opportunities for more.”
To build its rankings, the magazine counted real estate projects costing at least $1 million, or involving at least 50 new jobs or at least 20,000 square feet of new space.
Colliers International Among Top Brands in Global Commercial Real Estate Industry
The Lipsey Survey Rankings Affirm Colliers’ Industry Leadership, Initiatives
Reaffirming Colliers International’s leadership in the commercial real estate industry, The Lipsey Co., the industry’s leading training consultancy, has ranked Colliers among the top global brands in a new survey of more than 50,000 industry professionals.
The 11th annual Lipsey survey, which ranked Colliers second overall for the third year in a row, was conducted among commercial property owners, investors, lenders, brokers and property managers around the globe.
“We’re very proud of our global ranking because it affirms our international leadership,” said Doug Frye, global president and CEO of Colliers International. “Ours is a tremendous global brand that embraces sustainability, thought leadership, and an excellent international management team. But, it all starts at the local level with quality people and exceptional client service.”
Dylan Taylor, CEO of Colliers International in the U.S., agreed. “We’ve worked hard to further enhance our client services in markets around the world, and we’ve made some big gains,” he said. “And, as Doug points out, it’s a tribute to all of our employees around the globe who are committed to exemplary client service,” he said.
“We were pleased to see the high Colliers International ranking in the Lipsey Survey, and feel proud of our global brand’s incredible strength,” said Gregg Broujos, managing director and founding principal at Colliers International | Pittsburgh. “The combination of Colliers International’s strong leadership at every level and the “best in class” brokers in every office allows us to serve our clients like no other commercial real estate firm in the world.”
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