• Dyman Real Estate: Residential real estate

    Community, Industrial Design

    Dt

    DEALS OF THE WEEK

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

    $7,574,553

    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.

    $277,091

    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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