Archived

This topic is now archived and is closed to further replies.

tooluther

Reed Smith Center at PNC 3

Recommended Posts

I just got of the phone with my friend who works at PNC.:ph34r: As of 3:30pm today, they were supposed to formally (and finally) announced that they will be partnering with Reed Smith, LLP in building a new building adjacent to the existing PNC buildings on that huge swath of property across from the G.C. Murphy building currently owned by PNC. I don't have any more specifics other than what has been speculated about in the papers so far.

I'll update as soon as I find out something else.

Share this post


Link to post
Share on other sites


Look at your contacts . . . NICE!

I'd could only wish it'd be a building 15 to 25 floors . . . but given Downtown's struggle with occupancy it will probably be a great "low-rise" building. One can only hope ;). Then again if they did build one 15 floors or so the upper floors could be condos!

Share this post


Link to post
Share on other sites

This could be a great follow up you posted to a recent Business Times article.

Pittsburgh's second-largest law firm has grown to the point that it has overflowed its namesake building on Sixth Avenue, forcing it to move its administrative staff to the 10th floor of the Gulf Building. And several partners relocated to Federated Investors as part of a recently inked deal to provide services to the mutual fund giant.

"We have people thinking about what to do and sprawling through three buildings isn't the best strategy," said Gregory Jordan, managing partner.

The firm's total space needs could easily top 200,000 square feet, which could translate into the largest real estate deal in years.

----

Where Reed Smith will go remains to be seen. The firm bought its nine-story, 200,000 square-foot building in 1984, for $5.82 million. The James H. Reed Building is named for the firm's founder. It has a total market value of $16.9 million, according to county documents. The firm's mortgage is slated to be paid off in September 2008, Mr. Sokulski said.

"There are lots of things we'll be exploring," Mr. Sokulski said. "We've had people say our building would make a great hotel."

Reed Smith would serve as a strong anchor tenant for any new or existing building. FreeMarkets Center and Dominion Tower, two of Downtown's larger office buildings, currently have the space available to accommodate Reed Smith, according to a third-quarter office survey by Insignia Oxford, a Downtown commercial real estate brokerage.

Sounds like they would sell their old (current) building and I guess if you are correct, build new, or move over to Freemarkets or one of the other nearby towers with plenty of space.

Other than prestige, there really isn't a need to build a new building, as much as I would love it if they did.

Share this post


Link to post
Share on other sites

200,000 sq. feet . . . .

largest real estate deal in years . . . .

I'm liking how that sounds in a city that has been in a sq. footage glut the last few years!

Share this post


Link to post
Share on other sites

This reminds me, does anyone know if the Freemarkets building has been or will be renamed for Ariba? That'd be cool.

No when they changed names, they changed the sign (obviously), but the building went back to being called "Oliver Plaza"...I think because Education Management also has alot of space there

Share this post


Link to post
Share on other sites

That's what I'll never get about this town, Mellon sued Citizens Financial over the same thing claiming their new HQ bldg. could NOT be renamed Citizens Financial even though the sign went up, Highmark the same thing with Fifth Avenue Place. C'mon folks it's just a name!

Share this post


Link to post
Share on other sites

5th Ave Place is owned by "standard properties", they are in turn just a subsidiary of Highmark. So if Highmark wanted its name changed it wouldn't be an issue. They prob. don't want to screw with the other occupants of the building

Share this post


Link to post
Share on other sites

Speaking of the Highmark building (5th Avenue Place), I must say I am pleased with the new sign. I was very worried it would look tacky, but it's not bad at all, and the new blue lighting is lovely at night.

Share this post


Link to post
Share on other sites

Speaking of the Highmark building (5th Avenue Place), I must say I am pleased with the new sign. I was very worried it would look tacky, but it's not bad at all, and the new blue lighting is lovely at night.

Really? I absolutely hate what they did to one of my favorite buildings (in any city).

Ughhh. Hate it.

That top was not meant to have a sign.

Share this post


Link to post
Share on other sites

Really? I absolutely hate what they did to one of my favorite buildings (in any city).

Ughhh. Hate it.

That top was not meant to have a sign.

I've always had a beef with 5th Avenue Place for destroying the Jenkins Arcade... one of Pittsburgh's most incredible interior spaces.

Built in 1910... designated a historic structure in 1972... and demolished in 1984.

It was Pittsburgh's first enclosed mall.

It's a shame this treasure wasn't able to weather the urban storm of the 50s-80s. I think with the comeback Pittsburgh's core is experiencing... a place like this would be a valuable asset.

I do like 5th Ave's new blue lighting though. lol

jenca.gif

Share this post


Link to post
Share on other sites

Jenkins was nice, from what I read into it though 5th Ave. Place came in way after it was torn down . . . not quite clear on that anymore maybe I am confusing it with the old B&O train station that was also a gem in that area. I will agree with Gerbil on the lighting of the new sign and "peak" of the skyscraper though the sign is ok, that building just isn't a good fit for a long corporate sign in my mind. Also why did everyone raise a ruckus over the Heinz Field sign on Gate A that you need almost a microscope to see and looks awfully small when all that grey from the backside of the scoreboard is staring out to the point, the story I heard at the time was that NIMBYs were complaining that Pgh was being overrun with large garish corporate signs (Mellon, the old Freemarkets, etc.) so they insisted Heinz Field's sign be teeny tiny even though it faces a public park and three rivers!?! (Not like it's gonna keep up a neighborhood at 4am or anything). Then they put the giantic Highmark and Citizens Financial signs up?! What gives. If I had my choice I'd much rather see a gigantic Heinz Field sign lighting up the northshore as wide as the stadium itself--Heinz is recognized around the world and has tons of good will and "coolness" from Spain to Indonesia to Africa etc. whereas Citizens and Highmark are regional and nontraditional at best, local and wet behind the ears at worst--then some "newgen" corporate logos the size of city blocks popping up over downtown. Just my two cents. ;)

Share this post


Link to post
Share on other sites

You can thank the yinzers from Allegheny West for the sizes of the Heinz Field signs. The Rooneys wanted to go big and bold with the Heinz & Coca-Cola Great Hall signs, but that little "crap-fit"/lawsuit saw to that...

Share this post


Link to post
Share on other sites

I'm not crazy about a lot of the signs downtown, but it's my understanding that they are all within the legal limits agreed upon a few years ago. As I remember, it was pretty strict, something like you can only have signs on 2 sides of a building, and they can only be such-and-such a size. Most of them seem to face the North shore, so as not to spoil the famous view from Mt. Washington. I am pretty satisfied with this arrangement.

Share this post


Link to post
Share on other sites

Well PghUSA, it looks like you get your wish. The Trib is reporting that the new building will be 25 stories.

PNC Financial Services Group Inc. is expected to announce plans Monday to build a 25-plus-story office/hotel/condominium complex adjacent to its pair of office towers.

Share this post


Link to post
Share on other sites

^^that is fantastic news PB, can't wait to see an artists view on it as well. Another skyscraper for the 'burgh!

Share this post


Link to post
Share on other sites

Jenkins was nice, from what I read into it though 5th Ave. Place came in way after it was torn down . . . not quite clear on that anymore maybe I am confusing it with the old B&O train station that was also a gem in that area.

I think you're referring to the Wabash terminal where 4 Gateway is now. B&O is still around.

As for Jenkins, that was torn down in around 1983 or so because, IIRC, First Federal was supposed to build its HQ there. Then those plans fell through and the place remained a vacant lot until the Fifth Avenue Place plans about. Fifth Avenue place stated construction maybe around 1985 and was supposed to be completed by 1987 but opening got delayed until 1988.

Share this post


Link to post
Share on other sites

That new building looks good. And the location is excellent; it should become a visible part of the skyline (at least from the west). I am glad it includes condos and retail, but I am not sure about the hotel. IMO all these small hotel projects are not what the city needs.

Share this post


Link to post
Share on other sites

I dunno, looks kinda boring. I was hoping for a new signature building. Also, I can't tell if the upper floors are stepped back fromt he first 3 or so. I hope they are...if not it will really screw with the pedestrian scale of the rest of that block.

Also, I like the Harris Brother's Building...I'll be sad to see it go, and used only as a "staging area"

Share this post


Link to post
Share on other sites

I'll be interested to see if they go for LEED green certification. Pretty much everything PNC builds now is certified green (firstside building, bank branches, the new park off of grant, etc). A green roof (vegetation to absorb rain water runoff) would be environmentally conscience and would be able to double as a nice little rooftop park for the residents.

Share this post


Link to post
Share on other sites

I dunno, looks kinda boring. I was hoping for a new signature building.

WORD. I am so excited about the city getting a new skyscraper. I agree though, I wish they would have picked a more architecturally interesting design. But whatever, I'm just happy to add to our lovely skyline.

Share this post


Link to post
Share on other sites

  • Recently Browsing   0 members

    No registered users viewing this page.