CORFAC News

Pittsburgh, PA – Weber Wood Medinger/CORFAC International (www.wwmrealestate.com) announced that Kevin Riley, CCIM, has represented local nonprofit ARC Human Services in an expansion and relocation in the Washington County city of Washington, PA.

ARC Human Services (www.aadvantageinc.org) moved from 201 South Johnson Road in Houston, PA, where it occupied approximately 5,700 square feet, to a 10,000-square-foot office located at 470 Johnson Road in Washington. Its new location is in a 42,000-square-foot, multi-tenanted office building owned by Horizon Properties.

ARC Human Services provides residential, vocational, in-home and advocacy services to support individuals with intellectual/mental health disabilities and their families.  ARC Human Services is one of the four main sub-divisions of its parent company, AAdvantage, Inc.  The other organizations are The ARC of Washington County, Residential Recovery Services and The AAdvantage Foundation – the latter raises much of the needed funds and community awareness for the individuals served.

Also in Pittsburgh, Riley is marketing Bethel Park’s Cool Springs Sports Complex that is owned by Penn Cove Group. Phase I of the sports complex – a 50-bay, two-tiered golf driving range, short-game practice area and 18-hole miniature golf course, opened over a year ago. In November of 2014, work began on the second phase of the 58-acre project – the 172,000-square-foot Allegheny Health Network Sports Medicine Center. Sports fields and other mixed-use developments will come later, Riley said.

Riley splits his time between Weber Wood Medinger’s Pittsburgh and Cleveland offices.

Pittsburgh’s economic outlook is bright, with Southwestern Pennsylvania’s employment holding near all-time highs and forecast to get even better in 2016, despite the energy sector’s slowdown due to the low cost of oil. Stuart Hoffman, a Senior Vice President & Chief Economist with The PNC Financial Services Group, published a report earlier this year stating that the seven-county unemployment rate had just fallen below 5 percent and Hoffman predicted that unemployment would reach an historic low of 4.1 percent in 2016. The strongest economic sectors in the region last year were education and health care, which had 1 percent growth over 2013.

As such, Pittsburgh’s Class A office vacancy rate ended the first quarter of 2015 at a healthy 7.7%, according to CoStar Group. However, Pittsburgh is a bifurcated market with Class B office space close to a 25 percent vacancy rate. The total office inventory in the Pittsburgh market area is approximately 125 million square feet.

About Weber Wood Medinger/CORFAC International
Since 1968, Weber Wood Medinger (WWM) has provided an extensive range of real estate services to corporations and investors locally, nationally and internationally by working with a ‘best-in-class’ business model and partnering with the most qualified real estate professionals in multiple markets to represent its clientele. The Beachwood, OH-based company has represented more than 30 Cleveland-area companies in selecting headquarters facilities for their respective businesses and in a variety of methods, including lease, acquisition, build-to-suit development and ground-up construction. The company opened its Pittsburgh office last year. The firm’s principals have expertise in corporate consulting, strategic planning, tenant representation specializing in office, R&D and industrial properties, marketing, transaction analysis and landlord representation. For more information visit www.wwmrealestate.com or call 216.464.7100.