TRANSIT A BOLD VISION Fall 2018 Carnegie Mellon University Tepper School of Business B U I L D I N G E X C E L L E N C E www.mckamish.com CONTENTS | Fall 2018 05 President’s Message 07 Advocacy Update 31 Eye On the Economy 35 Office Market Update SVN | Three Rivers Commercial Advisors 39 Industrial Market 07 Executive Director’s Message Update Grant Street Associates/ Cushman & Wakefield 43 Capital Market Update 47 Legal / Legislative Outlook 49 Benchmarks Pittsburgh’s Multi-family Market is Showing 08 Feature Resilience A Bold Transit Vision 55 Voices 58 News from the Counties 67 People / Events 72 BUYER’S 2018 GUIDE 25 Development Project Ashby at South Hills Village www.developingpittsburgh.com 3 Quality. Excellence. Integrity. For 67 years, A. Martini & Co. has been providing construction management and general contracting expertise to meet your project needs. www.amartinigc.com | 412.828.5500 Brunner Cory Morton Photography PUBLISHER Tall Timber Group President’s Message www.talltimbergroup.com EDITOR As my second and final term as • Streamlining DEP state Jeff Burd president for NAIOP Pittsburgh is permitting processes 412-366-1857 coming to a close at the end of 2018,
[email protected] • Support of the Bus Rapid I am pleased to report that the chapter Transit between Oakland and is strong and, more importantly, Downtown Pittsburgh PRODUCTION positioned well for the future of Carson Publishing, Inc. commercial real estate in the region. • Allow for 1031 like-kind real Kevin J. Gordon estate exchanges to be recognized In my two years as president, we have
[email protected] in Pennsylvania had a great deal of successes.