• Dyman Real Estate: Residential real estate

    Community, Industrial Design



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


    Property sold: 2055 Washington Pike, Heidelberg

    Seller: BRL Orangeburg Properties LLC, Pittsburgh

    Buyer: MMWG Heidelberg LLC, Pittsburgh

    Details: A 14,580-square-foot Walgreen's store

    Comment: “Given several prevailing market factors, we were presented with the opportunity to execute this transaction in which we were able to sell a high quality asset at a hefty profit, and reposition our capital into another high quality property,” said Daniel N. Farber, principal at H. Lipsitz Companies, Pittsburgh.

    $1.77 MILLION

    Properties sold: 4326 Northern Pike Road for $920,001 and 4328 Northern Pike Rd. $850,001, both in Monroeville

    Seller: Monroeville Hospice Center Inc.. Monroeville

    Buyer: First Commonwealth Bank, Indiana, Pa.

    Details: Contains single-story and two-story medical office buildings with one or two other medical-style offices within them

    Comment: “We are in the process of marketing the properties for sale, with the goal of identifying an appropriate investor or developer,” said Rich Stimel, First Commonwealth's vice president of corporate communications.


    Property leased: 3800 block of South Water Street, South Side

    Owner: Rivertech Office Works, Pittsburgh

    Tenant: University of Pittsburgh Department of Sports Medicine and Nutrition

    Details: Ten-year lease of 11,667 square feet of office and lab space, beginning Jan. 1, 2015. The department leases 7,790 square feet in two buildings there.

    Comment: “The increased space reflects the continued growth in research funding that the department has experienced. The department currently receives $44.2 million in research funding and additional growth is expected,” according to a news release from the University of Pittsburgh.

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