ShareThis Page
Home

Real Estate Notes

| Saturday, April 28, 2012, 5:56 p.m.

• UPMC is expanding at Bakery Square, and eventually its Technology Development Center will occupy the entire second floor. Starting with 31,000 square feet, UPMC has an option to expand to 48,000 square feet. UPMC has 63 employees there with16 positions open, from five to 10 external contractors and from five to 10 partners working in its space. "We expect to continue to grow our team and expand our numbers of partners as we continue our commitment to innovation -- transforming the way we deliver health care through innovative technology solutions," spokeswoman Wendy Zellner said.

• The recent sale by Frisch's Restaurants Inc. of Golden Corral, including the Uniontown and Monroeville facilities, to NRD Holdings LLC of Atlanta has been cancelled after Golden Corral Franchising Systems Inc. exercised its right of first refusal to purchase substantially all of Frisch's Corral operations and real estate. Involved were restaurants in Pennsylvania, Ohio, Indiana, Kentucky and West Virginia. Terms will be disclosed May 29.

• More than 20 homeowners in the Princeton Park and Park Triangle areas will benefit from a decision by three nonprofit groups to form the Wilkinsburg Affordable Housing Coalition and provide renovation assistance. The groups -- Rebuilding Together Pittsburgh, Habitat for Humanity of Greater Pittsburgh and Wilkinsburg Christian Housing -- will work under the Wilkinsburg Community Development Corp. Homeowners, previously served through Rebuilding's Volunteer Renovation Program, will receive new fascia, gutter, siding and paint from Habitat. Peoples Natural Gas has provided a $20,000 grant.

• Forbes Center Realty LLC and Forbes Corporate Center LLC, owners of a 6.7-acre site at the corner of Washington Boulevard and Frankstown Avenue in Pittsburgh's East End, will seek approval of the City Planning Commission to change zoning from educational/medical institution district to urban industrial district. The zoning change would eliminate the need for a master plan for the site. Red Swing Consulting Services LLC will seek a zoning change for property bounded by Marlow Street, Paula and Comstock Ways and the West End Overlook for construction of four townhouse units. The hearings will be held on Tuesday in the first floor, 200 Ross St., Downtown, starting at 2 p.m.

•Three neighborhoods have received grants from the Community Design Center of Pittsburgh. The Fineview Citizen's Council will proceed with the Henderson Street Gateway Project and the Central Northside area. Morningside Area Community Council received $7,000 to begin a landscape design plan for Heth and Natoli athletic fields. Lawrenceville Corp. funding is for a project in the Upper Lawrenceville area bounded by Stanton Avenue, Butler Street and 55th Street.

DEALS OF THE WEEK

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

$7.05 million

Property sold: 425 Sixth Ave., Downtown

Seller: First Commonwealth Bank, Indiana, Pa.

Buyer: PMC 425 Sixth Avenue Associates LP, Philadelphia

Details: The 31-story Regional Enterprise Tower, Allegheny HYP Club at 617 William Penn Place, and vacant building at 16 Montour Way.

Comment: "We are focusing our plans on converting the tower into a combination residential-office building, allowing the other properties to continue in their present state," said Jerald Novick, vice president and general counsel.

$5.4 million

Property sold: Georgetowne Drive, Franklin Park

Seller: LSREF Summer REO Trust 2009, New York

Buyer: Concordia Lutheran Ministries of Pittsburgh, Cabot, Pa.

Details: Concordia of Franklin Park, formerly Pristine Pines of Franklin Park, is a 56-unit personal care facility with 40 employees.

Comment: "We are pleased to add this new facility to our continuum of care and look forward to serving our new family of residents," said CEO Keith Frndak.

$3.1 million

Property sold: 612 William Mark Drive, Munhall

Seller: Center Associates Realty Corp., Pittsburgh

Buyer: Gordon Real Estate Co. Inc., Pittsburgh

Details: Munhall Square II, a 37,720-square-foot retail center, is fully leased.

Comment: "The seller sold to redeploy equity. The buyer saw it as a good investment anchored by Big Lots, an investment-grade tenant," said Craig Fuller. He, Scott Wiles and Erin Patton, of Marcus Millichap, represented the seller.

TOPHOUSESALES

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

$800,000

Property sold: Mt. Washington

Seller: Thomas B. Grealish, Pittsburgh

Buyer: EES Property, Texas

Details: Two-story condomium features two-story glass wall view of Downtown, hardwood floors, wine closet, gourmet kitchen with island opens to wet bar.

Comment: "The buyer was knocked out by the view of the lights of the city and liked the two guest bedrooms, a first-floor den with built-ins, and the elevator opens into the unit. A Pittsburgh native, now in Texas, he plans to use unit for himself and family when he visits here," said Lori Hummel, Howard Hanna Real Estate.

$429,500

PropertyShadyside

Seller: Michael Travis

Buyers: Michael and Lisa Germano

Details: Victorian, new master suite, den, two-car detached garage

Comment: "The buyers liked the charm, character and gorgeous hardwood floors throughout the house and its proximity to Walnut Street shopping and restaurants," said Andrea Ehrenreich, Howard Hanna Real Estate.

$289,275

Property:, Connoquenessing Township

Seller: Christine Williamson

Buyer: Chad and Amy Rensel

Details: Colonial, 12 years old, private wooded level lot on cul-de-sac, family room with fireplace, open loft den at top of stairs, walkout basement, master bedroom with walk-in closet.

Comment: "The buyers liked the community with a home in a quiet rural setting but close to Cranberry Township," said Fred Solman, Northwood Realty Services.

TribLIVE commenting policy

You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.

We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.

While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.

We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers

We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.

We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.

We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.

We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.

click me