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Real Estate

Real estate notes: Regus leasing in busy Southpointe II complex

| Saturday, Aug. 16, 2014, 9:00 p.m.

• Activity at Zenith Ridge 2, one of the three office buildings being built by Burns & Scalo Real Estate Services in Southpointe II, remains strong. The latest tenant to lease space is Regus, which has signed for 15,000 square feet. Regus, which offers shared workspace that includes offices, meeting rooms and access to business lounges, will be on the first floor of the 150,000-square-foot, five-story, Leadership in Energy and Environmental Design/G-rated building. Other tenants include EQT, which leased 30,000 square feet, and Sentric Corp., which leased 13,334 square feet.

• A new speculative warehouse/distribution facility, with 75,000 square feet, is under construction on a site off Crown Court in North Fayette with an anticipated opening by the end of the year. The estimated $5 million development by Ashford Imperial Partners is being marketed by Joel Kreider and Mike Mannella, both of Newmark Grubb Knight Frank. The speculative structure, which can be subdivided, is in the Imperial Business Park.

• Officals of Sri Shirdi Sai Baba Temple Inc. will seek the approval on Wednesday of the Monroeville Planning Commission to build a two-story, 13,410-square-foot temple and spire, including a 1,466-square-foot addition, 264-square-foot connecting wing and four gazebos, at 1449 Abers Creek Road. The request includes cut-and-fill oprations of about 24,800 cubic yards because the site has a steep slope or grade. The total site will include one lot of 36.646 acres, a parcel of 22.755 acres and a third lot of 0.768 acre.

• In Westmoreland County, two 15-year loans at 2.25 percent interest have been awarded by the Pennsylvania Industrial Development Authority to renovate buildings for multi-tenant occupancy by leasing to potential businesses. Farnham and Pfile Co. Inc. will receive $896,530 to renovate a building in Monessen. A $542,842 loan will be provided to the Economic Growth Connection of Westmoreland for similar treatment to a building in Mt. Pleasant. It is anticipated that the projects will lead to 33 new jobs and retain 79 positions. Total investment for both projects is more than $3.55 million. The Department of Community and Economic Development awarded the city of Latrobe a $60,000 Keystone Communities grant to support the Main Street Program. The grant will provide funding, on behalf of the Latrobe Community Revitalization Program for implementation of the Main Street program over the next three years. Funds will be used to attract businesses and hotel development, downtown facade improvements, ordinance enforcement, the development of a walk/bike trail and the renovation of 3,000 square feet of mixed-use space.

• Dollar General opened on Saturday at 4725 Centre Ave., Oakland, with from six to 10 employees.

•Annie Hanna Cestra has been reappointed by Gov. Tom Corbett to a term on the Pennsylvania Department of Real Estate Commission. This marks her third term on the Commission which she serves as the current chair. Chestra is executive vice president and chief operating officer of Howard Hanna Real Estate Services.

• A check for $75,000 was presented to the Washington County Agricultural Fair board of directors by the Washington County Board of Commissioners. This marks the final payment for improvements to the fairgrounds. The county has invested more than $975,000 at the site since 2002, primarily for the construction of buildings 2 and 4.

• Astrobotic Technology Inc., which delivers affordable space robotic products, services and future missions for emerging commercial space markets, is expanding its terrestrial facilities at 2515 Liberty Ave., Strip District. It has obtained a $123.290 seven-year loan from the Urban Redevelopment Authority of Pittsburgh, a matching grant from Allegheny County and private financing for the $328,996 project. It includes a 10,000-square-foot expansion on the second floor with office space for 50 employees and specialized facilities, including a clean room, shake table and thermal-vacuum chamber. Astrobotic's 2015 inaugural mission will land on the Moon's Lacus Mortis region to claim the Google Lunar XPrize and explore a lunar pit that is a suspected entrance to a lunar cave. Team Astrobotic, with Carnegie Mellon University, has been selected to compete for three of the recently established terrestrial Milestone Prizes, which awards $1.75 million for accomplishments in landing, mobility and imaging.

Correction

Field & Stream's opening at the Old Mill shopping complex in Washington County will be on Sept. 12. A wrong date was listed in the Real Notes column in the Tribune-Review's Aug. 10 edition.

— Sam Spatter

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