{"id":1004105663,"date":"2014-10-15T08:49:32","date_gmt":"2014-10-15T16:49:32","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=299814"},"modified":"2020-04-16T04:54:13","modified_gmt":"2020-04-16T12:54:13","slug":"alco-parking-owner-plans-new-office-complex-on-pittsburghs-north-shore-highwoods-properties-soffer-organization-unveil-major-southside-works-office-project","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/alco-parking-owner-plans-new-office-complex-on-pittsburghs-north-shore-highwoods-properties-soffer-organization-unveil-major-southside-works-office-project\/","title":{"rendered":"Alco Parking Owner Plans New Office Complex on Pittsburgh\u2019s North Shore; Highwoods Properties, Soffer Organization Unveil Major SouthSide Works Office Project"},"content":{"rendered":"<p><em>By Adriana Pop, Associate Editor <\/em><\/p>\n<p><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/10\/North-Shore-Office-Towers-in-Pittsburgh.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-299815\" title=\"North Shore Office Towers in Pittsburgh\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/10\/North-Shore-Office-Towers-in-Pittsburgh.jpg\" alt=\"\" width=\"300\" height=\"215\" \/><\/a>Alco Parking president Merrill Stabile is planning a major office development and parking garage on the land he owns behind PNC Park on Pittsburgh&#8217;s North Shore.<\/p>\n<p>According to the <em><a href=\"https:\/\/www.post-gazette.com\/business\/2014\/10\/09\/Alco-proposing-2-office-towers-parking-garage-on-North-Shore\/stories\/201410090197\" >Pittsburgh Post-Gazette<\/a><\/em>, plans call for the construction of two, 11-story glass towers offering a total of 600,000 square feet of Class A office space. The buildings (of 250,000 square feet and 350,000 square feet, respectively) would rise atop a new five-story, 1,227-space parking structure. The site of the new development is currently used for parking, with enough spaces for a maximum of 400 vehicles.<\/p>\n<p>Kim Clackson, senior vice president of CBRE, is marketing the project, which would only be built with a signed anchor tenant. This should not be a problem, according to Stabile.<\/p>\n<p>\u201cWe think the market is right. I think over the next two to three years there are enough potential users that one of them would be interested in a site with such a high profile and so many amenities,\u201d he told the newspaper.<\/p>\n<p>In other news, the <em><a href=\"https:\/\/www.post-gazette.com\/business\/2014\/10\/10\/4-building-SouthSide-Works-project-unveiled\/stories\/201410100105\" target=\"_blank\" rel=\"nofollow\">Pittsburgh Post-Gazette<\/a><\/em> reports that Raleigh, N.C.-based Highwoods Properties has partnered with the Soffer Organization for the development of four office buildings within the 34-acre SouthSide Works complex in Pittsburgh. The entire project would bring a total of 400,000 square feet of office and retail space.<\/p>\n<p><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/10\/SouthSide-Works-Office-Project-by-Highwoods-Properties-in-Pittsburgh2.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-299823\" title=\"SouthSide Works Office Project by Highwoods Properties in Pittsburgh\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/10\/SouthSide-Works-Office-Project-by-Highwoods-Properties-in-Pittsburgh2.jpg\" alt=\"\" width=\"300\" height=\"221\" \/><\/a>Construction on the first building, a 158,000-square-foot glass office structure on the Monongahela riverfront, next to Hofbrauhaus restaurant, is expected to begin as soon as an anchor tenant is secured for at least a portion of its space. Upon completion, the six-story facility will offer 30,000-square-foot floor plates, terraces, an 8,000-square-foot restaurant, locker rooms, bike storage, a 72-space parking garage, as well as direct access to the waterfront park, trails and marina.<\/p>\n<p>The rest of the project will be built upon demand.<\/p>\n<p>In downtown Pittsburgh, Highwoods Properties also owns the iconic PPG Place and EQT Plaza.<\/p>\n<p>\u201cWe\u2019re looking to expand our footprint here in Pittsburgh. We\u2019re excited about Pittsburgh. We\u2019re a developer by background, so this gives us an opportunity to develop what we see as very high-quality office space,\u201d Andy Wisniewski, Highwoods vice president in Pittsburgh, told the newspaper.<\/p>\n<p><em>Photo credits: (1) Artist\u2019s rendering of the North Shore Office Complex by Merrill Stabile in Pittsburgh; (2) Highwoods Properties via www.post-gazette.com<\/em><\/p>\n<p><strong><em><a href=\"https:\/\/www.multihousingnews.com\/market-data\/pittsburgh-apartment-vacancy-remains-tight-in-2014-rent-growth-continues-upward-trend\/1004102569.html\" target=\"_blank\" rel=\"nofollow\">Click here<\/a><\/em><\/strong><em> to read our most recent multi-family market snapshot for Pittsburgh.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Alco Parking president Merrill Stabile is planning a major office development and parking garage on the land he owns behind PNC Park on the city&rsquo;s North Shore.<\/p>\n","protected":false},"author":260,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1602],"tags":[],"class_list":["post-1004105663","post","type-post","status-publish","format-standard","hentry","category-latest","category-pittsburgh"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Alco Parking Owner Plans New Office Complex on Pittsburgh\u2019s North Shore; Highwoods Properties, Soffer Organization Unveil Major SouthSide Works Office Project - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/alco-parking-owner-plans-new-office-complex-on-pittsburghs-north-shore-highwoods-properties-soffer-organization-unveil-major-southside-works-office-project\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Alco Parking Owner Plans New Office Complex on Pittsburgh\u2019s North Shore; Highwoods Properties, Soffer Organization Unveil Major SouthSide Works Office Project\" \/>\n<meta property=\"og:description\" content=\"Alco Parking president Merrill Stabile is planning a major office development and parking garage on the land he owns behind PNC Park on the city&rsquo;s North Shore.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/alco-parking-owner-plans-new-office-complex-on-pittsburghs-north-shore-highwoods-properties-soffer-organization-unveil-major-southside-works-office-project\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-10-15T16:49:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-16T12:54:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/10\/North-Shore-Office-Towers-in-Pittsburgh.jpg\" \/>\n<meta name=\"author\" content=\"Adriana Pop\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/alco-parking-owner-plans-new-office-complex-on-pittsburghs-north-shore-highwoods-properties-soffer-organization-unveil-major-southside-works-office-project\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/alco-parking-owner-plans-new-office-complex-on-pittsburghs-north-shore-highwoods-properties-soffer-organization-unveil-major-southside-works-office-project\\\/\"},\"author\":{\"name\":\"Adriana Pop\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/c6fbe4a6cd09e6097b39e787ae96d7ad\"},\"headline\":\"Alco Parking Owner Plans New Office Complex on Pittsburgh\u2019s North Shore; 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