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Top commercial, residential real estate deals of the week

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By Sam Spatter
Saturday, Nov. 17, 2012, 8:57 p.m.
 

DEALSOF THE WEEK

A quick look at recent retail, commercial and industrial projects, sales and leases of note in Western Pennsylvania:

$20 million

Property sold: Summit Ridge (Plaza) Shopping Center

Seller: Hauck Holdings, Mt. Pleasant LLC, Cincinnati, Ohio

Buyer: Slate Properties (SUSO 1 Summit Ridge LP), Toronto, Canada

Details: A shopping center on State Rt. 819, with 13 retailers, plus a WalMart.

Comment: “Slate, which owns two other properties in the region, has been looking for another investment property for the past 18 months,” said Joe Patek, managing asset services, CBRE Group Inc.

$2.5 million

Property sold: 305 Church Rd., Bethel Park

Seller: Bethel Ice Associates (Kratsa Properties), Harmar

Buyer: YMCA of Greater Pittsburgh

Details: Facility used for ice hockey.

Comment: “Initially, we will continue the ice hockey rinks until March 2014, at which time we will close one rink and convert that area into a full service YMCA called Spencer Family YMCA,” said Rig Riggins, YMCA president and CEO

$1.68 million lease

Property leased: 615 E. Butler Rd., Summit Twp., Butler County

Landlord: East Butler Holdings Ltd., Zelienople

Tenant: Carter Lumber Co., Kent, Ohio

Details: A 154,000-square-foot warehouse and 6,000-square-foot office, to be used for lumber sales and distribution, employing from 10 to 15.

Comment: “Carter Lumber has stores in the Meadowlands and New Castle and this location will handle sales and distribution on a larger scale throughout Western Pennsylvania,” said Hal Martin, Howard Hanna Commercial Real Estate, who represented the tenant. Scott Long of Pennsylvania Commercial, represented the landlord.

TOP DOLLAR HOMES

Recent home and condominium sales that brought top prices in Western Pennsylvania:

$580,000

Property: Squirrel Hill

Seller: Larissa Myaskovsky and Russell Goldstein

Buyer: Micheal and Michelle Boisen

Details: Custom-built Tudor in Summerset at Frick Park, exposed wood floors, island kitchen with zodiac counters, family room with gas log fireplace, master suite with jet tub, covered rear porch, bonus room over attached garage.

Comment: “Buyers liked the house as soon as they saw it. Liked open floor plan with island kitchen, plus bonus room, ideal for parents when visiting,” said Sandy Goldstein, Keller Williams Real Estate Professionals.

$512,104.

Property: Shadyside

Seller: Fear Itself LLC

Buyer: Jennifer Chennat

Details: End unit of four Colonial-style townhomes with a 10-foot ceiling on first floor, whirlpool, and 9-by-14 foot roof deck.

Comment: “Buyer, along with three others who purchased the four new houses, were drawn to new construction in Shadyside by Heartland Homes who did quality work,” said Marie Pace, Howard Hanna Real Estate.

$505,000

Property: Oakmont

Seller: Lloyd and Barbara Kaiser

Buyer: Phillip and Carol Fraley

Details: Cape Cod-style house with perennial gardens surrounding it, next to Oakmont Country Club, has hand-carved Italian marble fireplace mantles, oval master bedroom addition created by Venetian craftsman, French doors, center ceiling medallion.

Comment: “Buyers liked that property was architect-designed and built that included extensive gardens, with plans to make necessary upgrades and solve maintenance issues,” said Susie Nicholas, Howard Hanna Real Estate.

Sam Spatter is a staff writer for Trib Total Media. He can be reached at 412-320-7843 or sspatter@tribweb.com.

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