Real estate notes
By Sam Spatter and Laura L. Lenk,
Published: Sunday, November 20, 2011
• Leasing activity at Gateway Center, Downtown, has been strong in recent months, said Edward Lawrence, part of the Colliers International leasing team that includes Paul Horan and Meagan Moore. In October, Celerity, represented by Simon Franklin of Grant Street Associates, signed a lease for 3,801 square feet of space in Three Gateway Center; T.C. Graham Associates renewed its 1,130-square-foot lease in Two Gateway Center; and Xpyria, represented by Jack O'Donoghue of Grant Street Associates, renewed its 3,886-square-foot lease at Three Gateway Center. A September signing was Gateway Financial Group renewing 11,029 square feet of space — including 1,547 additional space — at Four Gateway Center.
• The opening of a two-story, 21,500-square-foot service facility in Smithfield, Fayette County, by Valerus Inc. could mean adding as many as 12 employees over the next year to its 14 current employees. The facility will primarily serve energy companies working in the region, providing them with a range of field application and repair service for their oil and natural gas handling equipment. The Fay-Penn Economic Development Council joined with the Pittsburgh Regional Alliance to bring about the opening, said Valerus Regional Vice President Chris Scheve.
• Facades of properties at 2000 through 2034 Murray Ave., Squirrel Hill, owned by Murray Avenue Properties, were improved, said David Tkacik of Equity Real Estate, who is the property manager. Tkacik said a new restaurant, Aseoma, has opened on Murray Avenue, offering an Asian/American menu.
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• Prudential Preferred Realty hired the following sales agents: Tom Pfeifer, Beaver; Dina Russo, Shannon Gazze and Bill Scott, East; Ken Lamison, Hampton; Lisa Christ, North Hills; Kim Rostron, Peters and Erik Rudar, Route 19 South.
? Laura Kelly was appointed marketing coordinator of Coldwell Banker Real Estate Services.
• WTW Architects promoted Thomas P. Wiley to senior associate and Douglas M. Lieb to associate. Also, Sean E. Sheffler and Brandi Johnston were hired as project architects.
DEALS OF THE WEEK
A quick look at recent retail, commercial and industrial projects, sales and leases of note in Western Pennsylvania:
PRICE: $11.5 MILLION
Property sold: 1700-1800 Patrick Place, South Park
Seller: Park Place Apartments LLC
Buyer: Park Place South Park Apartment Homes, Pittsford, N.Y.
Details: Three-building complex containing 220 rental apartments
Comment: "It was the fourth apartment complext purchase by Morgan Management of New York in the Pittsburgh region," said Cynthia M. Kamin, CBRE Group.
PRICE: $3.5 MILLION
Property sold: 250 Cedar Ridge Dr., Monroeville
Seller: Apartments of Cedar Ridge LLC
Buyer: DBC Cedar Ridge LP
Details: Purchased was the 115-unit garden apartment complex on 7.8 acres
Comment: "We plan to physically improve these apartments and manage them," said Greg Hand, CEO of DBC Real Estate Management LLC.
PRICE: $1.16 MILLION
Property sold: 555 N. Bell Ave., Carnegie
Seller: North Bell Group LLC
Buyer: RDH Partnership
Details: Two-story office building on 1.12 acres
Comment: "We outgrew our Scott location and moved our 21 employees into the first floor of this building and leased the second floor to Loftus Engineering, former owner of the building," said Robert D. Hoag, a partner in the CPA firm of R.D. Hoag & Associates.
Recent home and condominium sales that brought top prices in Western Pennsylvania.
PRICE: $1.7 MILLION
Property sold: Ligonier Township
Seller: Estate of Frances Todd
Buyer: Margaret and Paul Neid
Details: Stately, two-story house with family room, ballroom, art studio and guest suite, with four-car detached garage and two barns.
Comment: "The buyers wanted a farm for farming, and that's what they bought," said Linda Bennett, who handled the deal with Bonnie Rosenthal, both with Howard Hanna Real Estate Services.
Seller: Christopher and Judi Cavalline
Buyer: John Siebart
Details: Provincial with four fireplaces, brick patio with waterfall and fountain, five-car garage
Comment: "The buyer liked the first-floor master suite with spiral staircase leading down to an exercise room and indoor lap pool," said Gloria Carroll, who handled the deal with Patty Pellegrini, both from Prudential Peferred Realty.
Property: Adams Township
Seller: Bradford Price
Buyer: Raj and Sandy Lall
Details: Colonial with five bedrooms, 4 1/2 baths, overlooks 4th hole of Treesdale Lakes golf course, oak-panel den, wet bar, wine cellar, four-car attached garage
Comment: "The buyers loved the golf course view from the house, the master bedroom and the lower level game room," said Kim Marie Angiulli, Coldwell Banker Real Estate.
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