Pittsburgh Market Commercial Real Estate News Brief: August 2017

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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 to keep you in-the-know.

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Pittsburgh Clusters into Defined Industry Neighborhoods

Photo Credit: Matthew Paulson

As Pittsburgh continues to attract large investments, new companies are locating where they see the most success for their specific industry. Companies are branching into clusters, creating a web of more clearly defined industry neighborhoods.

For example, technology companies are locating in the Fringe, Oakland and East End areas where they are in close proximity to the CBD and universities, such as Carnegie Mellon and the University of Pittsburgh. Similarly, energy companies tend to locate in the West and Southpointe areas, while law firms, financial companies and business services are most commonly found in the CBD.

Related: Download the Q2 Pittsburgh Office Report or Q2 Industrial Report 

More Pittsburgh Headlines

  • Companies in the tech and robotics industries have invested over $6.1 billion in downtown Pittsburgh, the Strip District, East Liberty, Oakland, the North Shore, Lawrenceville and the Southside. Businesses are converting obsolete industrial spaces to modern research and innovation centers, boosting real estate development.
  • Pittsburgh officials are interested in converting a former 164-acre Veterans Affairs site into a law enforcement facility. Located in close proximity to the highway and the city’s CDB, officials believe that the repurposed infrastructure will provide the highest value and better service to residents.

 

 

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