Commercial investors set their sights on Pittsburgh - PittsburghLIVE.com
By Ron DaParma
TRIBUNE-REVIEW REAL ESTATE WRITERSunday, March 19, 2006
Bob Bach, national director of market analysis for Grubb & Ellis Co., a commercial real estate firm, noted in a recent market forecast program that outside institutional investors are looking more at cities such as Pittsburgh for real estate investments.
With competitive pressures driving up the cost of buildings in already higher-priced cities like New York, Seattle and San Francisco, buyers are looking to so-called "second-tier" cities like Pittsburgh, he said.
As a result, 14 office properties or complexes, totaling more than 5.5 million square feet of space, were sold from late 2004 through the third quarter of 2005, Grubb & Ellis reported in its 2006 Real Estate Industry Forecast.
Commercial investors set their sights on Pittsburgh - PittsburghLIVE.com
TRIBUNE-REVIEW REAL ESTATE WRITERSunday, March 19, 2006
Bob Bach, national director of market analysis for Grubb & Ellis Co., a commercial real estate firm, noted in a recent market forecast program that outside institutional investors are looking more at cities such as Pittsburgh for real estate investments.
With competitive pressures driving up the cost of buildings in already higher-priced cities like New York, Seattle and San Francisco, buyers are looking to so-called "second-tier" cities like Pittsburgh, he said.
As a result, 14 office properties or complexes, totaling more than 5.5 million square feet of space, were sold from late 2004 through the third quarter of 2005, Grubb & Ellis reported in its 2006 Real Estate Industry Forecast.
Commercial investors set their sights on Pittsburgh - PittsburghLIVE.com
posted by Proud Pittsburgh at 1:48 PM
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