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Bankkruptcy Court Approves Grubb & Ellis’s Sale to BGC Partners

Bankkruptcy Court Approves Grubb & Ellis’s Sale to BGC Partners

by Adriana Pop, Associate Editor BGC Partners Inc., a New York financial services firm, has received the bankruptcy court’s approval to acquire substantially all the assets of Grubb & Ellis Co., the fifth-largest commercial property manager in the Pittsburgh region according to the 2012 Pittsburgh Business Times Book of Lists. On Feb.…

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U of Pittsburgh Wins Bid to Purchase Municipality Site for $1.65M

U of Pittsburgh Wins Bid to Purchase Municipality Site for $1.65M

by Adriana Pop, Associate Editor Children’s Hospital of Pittsburgh plans to develop a four-story, 60,000-square-foot medical complex in South Fayette Township. According to the Pittsburgh Business Times, the facility will include an urgent care clinic, an imaging center, and other specialized pediatric services. The South Fayette Township Board of Commissioners named the…

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Shell Announces Possible Ethane Cracker Plant Location

Shell Announces Possible Ethane Cracker Plant Location

by Adriana Pop, Associate Editor Shell Chemical LP signed a land option agreement with Horsehead Corp. to evaluate a site in Beaver County, where it could build a multibillion-dollar ethane cracker plant. The Shell subsidiary chose a 300-acre area near Monaca, in [...]…

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Mylan to Build Corporate HQ in Town Center Overlay District

Mylan to Build Corporate HQ in Town Center Overlay District

by Adriana Pop, Associate Editor Mylan Inc. plans to develop new corporate headquarters near its current location in the Southpointe Office Park in Cecil Township, Washington County, Pa. The project entails the development of an approximately 280,000-square-feet LEED-certified office building. Expected to [...]…

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Healthcare Trust Buys Medical Office Building for $54M

Healthcare Trust Buys Medical Office Building for $54M

by Adriana Pop, Associate Editor Healthcare Trust of America recently purchased the eight-story Penn Avenue Place office building for $54 million. According to the Pittsburgh Tribune-Review, the seller is Penn Avenue Place Associates LP, led by Steven J. Guy. Healthcare Trust of [...]…

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New Retail Space to Replace Boscov’s at South Hills Village Mall

New Retail Space to Replace Boscov’s at South Hills Village Mall

by Adriana Pop, Associate Editor Construction of new retail space is underway at the site of the former Boscov’s department store at South Hills Village shopping mall. According to the Pittsburgh Post-gazette, the investment entails the development of both a 145,000-square-foot [...]…

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Burns & Scalo to Develop $40M Office Space in Southpointe II

Burns & Scalo to Develop $40M Office Space in Southpointe II

By Adriana Pop, Associate Editor Burns & Scalo Real Estate Services plans to construct two identical 100,000-square-foot office buildings in Southpointe II. The $40 million development takes advantage of the increasing regional need for commercial real estate. Jim Scalo, president of Burns & Scalo Real [...]…

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Buncher Receives URA’s Support to Redevelop Railroad Terminal

Buncher Receives URA’s Support to Redevelop Railroad Terminal

By Liviu Oltean, Associate Editor The Buncher Co. made progress in pursuing its masterplan to redevelop the Pennsylvania Railroad Fruit Auction Terminal Building and turn it into a mixed-use project. According to the Pittsburgh Business News, the Urban Redevelopment Authority (URA) hopes to provide incentives for [...]…

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ULS Relocates to Park Place One

ULS Relocates to Park Place One

By Liviu Oltean, Associate Editor United Lender Services (ULS) has announced it will soon occupy 48,000 square feet of office space in Park Place One. Located in the suburban Parkway West area of Pittsburgh, Park Place One and Park Place Two [...]…

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RIDC Receives $15M Funding for Large-Scale Developments

RIDC Receives $15M Funding for Large-Scale Developments

By Liviu Oltean, Associate Editor The Regional Industrial Development Corp. of Southwestern Pennsylvania (RIDC) has been offered grants and low interest loans totaling up to $15 million for the development of large-scale regional projects. The funding was recently approved by the Commonwealth Financing [...]…

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RLJ Lodging Trust Completes $24M Hotel Conversions

RLJ Lodging Trust Completes $24M Hotel Conversions

By Liviu Oltean, Associate Editor RLJ Lodging Trust has recently completed a $24 million conversion of three hotels – the Hilton Garden Inn Pittsburgh University Place, the Hilton Garden Inn Durham and the Embassy Suites West Palm Beach-Central. The conversions were part [...]…

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PNC’s $400M Leed-Certified Tower Gets Green Light

PNC’s $400M Leed-Certified Tower Gets Green Light

By Liviu Oltean, Associate Editor The city planning commission voted in favor of the development of Tower at PNC Plaza. The tower is a 33-story glass office building that will house PNC Financial Services Group. Estimated to cost about $400 million, the PNC tower [...]…

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