Economic Growth Connection of Westmoreland County received an Economic Development Large Agency Award for 2010 from the Pennsylvania Economic Development Association. The award was assistance in providing $67 million in financing for projects with a total investment of $695 million. This is the second time the Growth Connection received the award; the first was in 2004.
• The University of Pittsburgh board of trustees property and facilities committee approved a three-year lease renewal for laboratory research space for the Department of Urology in Shadyside Medical Center, 5200 Centre Ave., through June 30, 2014. The annual cost is $496,174 with an annual increase of 1 percent.
• CB Richard Ellis Group Inc. has changed its name to CBRE Group Inc. to align its corporate name under the CBRE brand.
• According to Jones Lang LaSalle, during the July-September quarter, office building transactions included MetLife's lease of 20,598 square feet in Foster Plaza VI, Green Tree; ShowClix, an online ticketing firm, lease of 12,000 square feet at Centre City Tower, Downtown; and Talisman Energy Inc.'s lease of an additional 22,000 square feet in the second building in Pennwood Commons, Cranberry.
• Clearview Mall in Butler has new tenants: Italian Village Pizza, Toys R Us and Calendar Club, according to John Brautigam, mall manager.
Transactions
• H-5 Properties LLC acquired Benihanna Japanese Steakhouse, 2100 Greentree Rd., Scott, from the estate of Elias J. "Junior" Hakim for $940,000. Joseph E. Hakim signed as sole member of H-5 Properties LLC, according to a deed filed in Allegheny County.
DEALS OF THE WEEK
A quick look at recent retail, commercial and industrial projects, sales and leases of note in Western Pennsylvania:
PRICE: $10.5 million
Property sold: 121 Gamma Drive, O'Hara
Seller: Mine Safety Appliances Co., Pittsburgh
Buyer: Zoll Lifecor Corp.
Details: Zoll had signed a 20-year lease for 112,000 square feet in the 123,619-square-foot building.
Comment: "Zoll Lifecor had an option to purchase the building as part of its long-term lease," said Jack Donahue of Donahue Real Estate Advisors LLC, who negotiated the lease but not the sale.
PRICE: $712,617
Property leased: 204 Craft Ave., Oakland
Owner: Magee Womens Hospital
Tenant: University of Pittsburgh
Details: Five-year lease extension that combines two subleases for the Universty of Pittsburgh Cancer Institute in Magee Woman Research Institute.
Comment: The lease extends the institute's lease through Sept. 30, 2016, with an annual increase of 1 percent, according to the University Board of Trustees' property and facilities committee.
PRICE: $500,000
Property: Northpointe Industrial Park, off Slate Lick exit of Route 28, Armstrong County.
Owner: Armstrong County Industrial Development Authorit
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