Pittsburgh Commercial Real Estate News Brief: February 2018

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In the latest edition of our monthly news brief, JLL’s regional team curates the top commercial real estate industry articles impacting the Pittsburgh market.

UPMC and University of Pittsburgh Announce Medical Development Project

Together, UPMC and the University of Pittsburgh announced plans for an Immune Transplant and Therapy Center in Bloomfield just one block away from UPMC Shadyside. The development follows the string of the $2 billion investment commitment to area specialty hospitals in the region, including the UPMC Vision and Rehabilitation Hospital, UPMC Heart and Transplant Hospital and UPMC Hillman Cancer Hospital.

The medical center, which will sit at 5000 Baum Blvd at Morewood Avenue, will be redeveloped to include medical labs and offices with a focus on medical research. Renovations are expected to take nearly two years, which will create local jobs in the region.

More Pittsburgh Headlines

  • Bank of America at Nova Place is putting its 144,000-square-foot office on the market for sublease. The property includes competitive amenities, including dining options, a fitness center and parking.
  • InnovatePGH, a public-private partnership, hopes to transform Oakland into a central hub specifically for tech and innovation initiatives. The partnership hopes to sell tech companies on opening research and development centers, engineering offices and more in the Oakland area.