Just returned form Southern California and I was surprised at the number of automobiles returing to S. Cal from Las Vegas on Sunday afternoon and into the evening.

Fortunately, we were heading back to Las Vegas from a family Thanksgiving gathering at my wife's sister's house near San Diego.  (By the way, it was a very pleasant time.)

But, as my wife and I traveled further north along the I-15 into the High Desert area, the traffic heading south appeared to be getting heavier and heavier.  At several points, it seemed like the traffic heading south was at an actual stand still. 

Once we were climbing through the Cohen Pass, the traffic approaching the bottom from the north looked to be at a dead stop.  And, then again at the fruit inspection stations(?).

(It befuddles me that these are even still in operation.  Why is it that after traveling into California for about 200 plus miles, you have to stop and answer the single dumbest question you could hear while driving: "Do you have any fruit?"  I always say 'No' regardless to whether or not I think any of my passengers is lacking indeligence.  Or, whether that apple pie for dessert on Thanksgiving is really made with apples.)

(OH! As for the future use of this traffic catcher, be prepared for this to become a toll booth.  California needs the money!)

(HINT to Califonria legislature: turning this into a tollbooth will help eliminate your money woos at the expense of your citizenery.)  (Since I know a way around this, it would only add about a half hour to my travel time.)

The next real heavy stopped traffic was from Primm, just inside of the Nevada border, to almost Goodsprings (That's the name of the area where the Goldstrike Hotel & Casino is located between Las Vegas and Primm.  MGM tore down the Nevada Landing.) 

Again, it was so heavy, it appeared that, that 11 mile stretch, was again a parking lot.  The traffic appear to be NOT moving at all.

Now, with so much traffic heading south back into S. Cal, why is it I keep hearing that Las Vegas Gaming is so down?  Am I missing something?  If Las Vegas had that much traffic from Wednesday to Sunday this past weekend, the papers should be filled with casino executives stuffing their coffers with winnings.  Only time will tell just how much they say they 'took in' over the Thanksgiving Day weekend.

And, with so many visitors coming to Las Vegas for the weekend, before you come, send me an email so that I will be ready to help you find a commercial real estate investment property that could earn you some rentable income on before you return home.

For Information about Las Vegas Commercial Investment Property, contact David Howes at: david@davidhowes.net

Source: Pittsburgh Post-Gazette

Increasingly, everyone from new home builders to major companies like PNC Bank have embraced the green credo of buildings that are not only energy efficient but use environmentally sustainable products.

But exactly what environmental impact those buildings have over the life of their existence from construction to operation to demolition and disposal is not fully understood.

A team of Pittsburgh engineers and architects will try to get at that very notion -- known as "life cycle assessment."

Read the full story

David J. Thor, LEED AP, Associate of NAI Pittsburgh Commercial reacts, “The ability to capture measurable increases in human performance would be invaluable in defining the value proposition as we work with clients who are entertaining a variety of alternatives, including sites that have been developed in accordance with sustainable building standards.”

Advances made as a result of studies like the Life Cycle Assessment can be pivotal in changing attitudes towards environmental issues and setting new construction standards. The results can positively influence the local economy through emerging industries that create jobs. Even better, the results can assist commercial building owners with constructing more efficient and environmentally friendly office, retail and industrial properties, through improved building materials, energy and water efficiency and pollution control.

“The scope of the study is huge and hopefully the results will be meaningful in such a way as to pull together our concerns about the environment, the effects on user health and productivity and the economics of going green,” adds Raymond Orowetz, P.E., LEED Green Associate of NAI Pittsburgh Commercial. “Any undertaking that helps to more concretely substantiate how building in an environmentally conscious manner is beneficial in all regards will be useful and help to enhance the momentum that building in a sustainable fashion already enjoys.”

Pittsburgh has steadily grown into a globally recognized green initiative leader in energy and the environment. Just this year, the city of Pittsburgh was selected as the North American host city by the United Nations Environment Programme (UNEP) for World Environment Day 2010, as well as the location for The G-20 Summit, positioning the region as a thought leader in innovation, transformation and sustainable solutions.

NAI Pittsburgh Commercial is a Pittsburgh proud locally owned and operated company. To see some of the investment and development opportunities available in the Pittsburgh region click here.

Sources: Pittsburgh Post-Gazette, National Retail Federation

From benefits featuring live music and comedic entertainment, to a downtown Trolley Tour, Thanksgiving Day Parade, the annual Turkey Trot, and more, the weekend is stuffed with plenty of activities that the whole family can enjoy together.

Click here for a list of Thanksgiving weekend activities

Following the Thanksgiving celebration, enjoy a fresh-air walk outdoors to work off the extra Holiday helpings. Thirty-six Pittsburgh neighborhoods rank as a "walker's paradise" or "very walkable" in a national analysis at walkscore.com. According to the Pittsburgh Post-Gazette article, Pittsburgh weighs in with 36 neighborhoods scoring 70 and above on a scale of 0-100. A walker's paradise score of 90-100 means residents do not need cars. The Central Business District, South Side Flats, North Oakland and Lower Lawrenceville received the highest scores.

This latest ranking gives us good reason to visit downtown Pittsburgh, participate in the Thanksgiving weekend activities, and start our holiday shopping on foot at local retailers in these business districts. More people plan on shopping over the Thanksgiving weekend this year than last, according to the National Retail Federation. The retail trade group is estimating that 138 million Americans plan on shopping during the holiday weekend, an increase of 4 million over last year’s projections.

Friday, November 26th, the traditional start of the Holiday Shopping season, known as “Black Friday,” is a great day to visit the shops and department stores of Downtown Pittsburgh. With many great restaurants and entertainment venues; shoppers can maximize their enjoyment by combining great shopping with fine dining and theatre.

“Thanksgiving weekend provides an opportunity for everyone to come together and enjoy the holiday,” said Ralph Egerman, Principal of NAI Pittsburgh Commercial. “I am particularly excited to introduce our city to family members from out of town, especially the downtown shopping experience at all of the wonderful stores in the Golden Triangle. Macy’s is a priority stop around the holidays.”

NAI Pittsburgh Commercial is a Pittsburgh proud locally owned and operated company. To see some of the investment and development opportunities available in the Pittsburgh region click here.

Source: Pennsylvania Real Estate Journal, Section C of the Mid Atlantic Real Estate Journal

Gregg Broujos, Founding Principal of NAI Pittsburgh Commercial, is featured in the November 12 – 25, 2010 issue of Pennsylvania Real Estate Journal for representing RKF Inc. in the sale of 5523 Walnut Street.

Click here to see the article

In October, NAI Pittsburgh Commercial announced the sale of 5523 Walnut Street in Shadyside for $950,000. This three story building with elevator service is located in Shadyside’s upscale retail and neighborhood corridor.

“The sale of 5523 Walnut Street again shows the strength of the Shadyside market and the entire East End submarket. Our firm entertained at least five offers on this property, which sold in a very short time period,” according to Gregg Broujos, Founding Principal at NAI Pittsburgh Commercial.

Mr. Broujos has an extensive background in Investment Property Sales and Commercial Property brokerage and has marketed over 800 properties for sale via the Real Estate Auction method. He has been in the real estate business for over 20 years.

He has handled numerous local and national retail assignments for restaurant, financial services, hotel and real estate clients, and, he has been appointed as the exclusive leasing agent for a 250,000 square feet retail center in Cranberry, PA.

For additional information on multi-family opportunities, please contact Gregg Broujos (ext. 206) at (412) 321-4200.

NAI Pittsburgh Commercial is a Pittsburgh proud locally owned and operated company. To see some of the investment and development opportunities available in the Pittsburgh region click here.

Source: Pittsburgh Downtown Partnership

The concept of "Light Up Night" took root in Pittsburgh in 1960, and this year will mark its 50th Anniversary. For the first time ever, Light Up Night will be celebrated over two nights, Nov. 19 – 20, 2010. The Pittsburgh Downtown Partnership has planned a one-of-a-kind celebration for the 50th Anniversary of Light Up Night. Enjoy traditional elements from the past, like tree lightings and holiday exhibits, paired with new events, including Pittsburgh's first-ever Duquesne Light Horse-drawn Candlelight Carriage Parade and the Grand Pittsburgh Celebrate Santa! Stage Show in Market Square, which will be glimmering against a backdrop of over three miles of lights. The celebration continues with the Roberto Clemente Bridge Party and the Highmark March throughout Downtown. Two large performance stages will feature hours of entertainment, provided by CAPA choir, the Joe Negri Quartet, Donnie Iris, and many more. And the celebration would not be complete, without one of the region’s largest and most creative pyrotechnics displays, the PNC GRAND Fireworks Finale by Zambelli Internationale.

Click for a complete listing of Light Up Night activities.

Jessica Jarosz, Associate of NAI Pittsburgh Commercial, who was born and raised in Pittsburgh, reflects on her memories of Light Up Night. “Light Up Night is a holiday tradition that my friends and family have shared together since I was a child. Every year we look forward to the new festivities and the experience of seeing the city of Pittsburgh bright with holiday spirit. There is always something for everyone to enjoy, no matter your age - live entertainment, dining in the city, the official lighting of the tree, the reveal of the Macy’s store windows, a visit from Santa and spectacular fireworks, but most importantly, it is an indication that the commencement of the Christmas shopping season has finally arrived!”

Light Up Night attracts thousands of visitors to downtown Pittsburgh each year. Marking the start of the holiday shopping season, local retailers benefit from the annual celebration.

Join your family and friends at the 50th Anniversary Celebration of Light Up Night in downtown Pittsburgh, one of the best metropolitan cities to live, work, shop, dine, play, and do business.

NAI Pittsburgh Commercial is a Pittsburgh proud locally owned and operated company. To see some of the investment and development opportunities available in the Pittsburgh region click here.

A client just called to discuss his proposal to his current landlord about reducing his current base rent to market value for his office.  Unfortunately, according to the client, the Property Manager (PM) is telling him and the Landlord (Bank -- of course) that the Las Vegas Office Market is going to turn and rents will be increasing in the next year.  Thus, a higher than market value should be agreeable.

Huh?  What?  I swear.  That's what my client told me that the PM told the Bank.

As I sit here looking at the Las Vegas Commercial, Investment Real Estate scene, there are far and few transactions going on -- lease wise -- to back up that statement.  I do NOT see (published ) accounts of office space being leased up at higher than market.  The office vacancy in Las Vegas is still around 24% to 25%.  And the sub-leased space that is currently vacant only adds to the vacancy.  (Space that is still being paid for despite the office is no longer being occupied.)

Where are these PM's and Bank's getting this idea that this vacancy problem and lease rates turning to higher prices in the next year get this notion?  That is a long way away.  And, leased (partially leased) buildings are being sold at 1/4 to 1/3 less than asking.

Still, most of my clients are sitting on their money.  They are going to feed -- when they get hungry -- only on property that has seriously dropped in price.  And with the Fannie Mae and Freddie Mac scenarios looming, prices on homes will drop, and that will reflect upon commercial property and especially investment property as we move on into the future.

Acquiring property in Las Vegas is a wait and see game.  Banks made the mistake of believing RE agents in the past and making outrageous loans on property with the self assurance that prices will NOT drop are the same Banks that are still listening to these very same RE agents telling them "lease rates" will be getting better -- next year.

Now, I am NOT a genius.  But as Colin Coherd says: "If it doesn't sound right, say it out loud."

And unfortunately, for me, since I am no longer affiliated with a national brand, my opinion gets smothered by the brands insistence that they are correct.  I may be a small one man shop.  But I will NOT mislead a bank who is desperate to re-coup the money that was foolishly invested in bad loans.

And, since these very same banks who made the foolish loans, it's your turn to take the loss.

For Information about Las Vegas Commercial Investment Property, contact David Howes at: david@davidhowes.net

Sources: The Providence Journal; FOX Sports; Mass. Market

As the city of Pittsburgh woke Monday morning to a blanket of fog, which reduced visibility in some places to just a few feet, we were reminded of the 39 – 26 defeat to the New England Patriots on Sunday night, and the anticipated matchup between quarterbacks. Brady (103-32, .763) and Roethlisberger (63-27, .700) rank 1-2 among active quarterbacks in regular-season winning percentage. Counting playoff games, Brady is 117-36 (.765) and Roethlisberger is 71-29 (.710). Six years later, Roethlisberger has won two Super Bowls himself, putting him only one behind Brady.

When it comes to winning, the Patriots and Steelers are the pinnacles of the NFL. The Patriots' .632 winning percentage since free agency began in 1993 is the NFL's best, and the Steelers are second at .627. Brady's .767 winning percentage coming in led all quarterbacks, and Roethlisberger's .700 was second.

Successful football statistics are not the only rankings both cities share. By comparison, neither city would be considered a concrete jungle. There is ample green space in both, and each is very neighborhood oriented, drawing opportunities in both residential as well as commercial real estate.

According to a recent blog post by Mass. Market, Zillow.com’s release of its latest quarterly residential home value report indicates that both Pittsburgh and Boston are the only two among the country’s 25 largest metro areas to see gains in home values from the second quarter of this year to the third. They are also the only two metro areas on the top 25 list where fewer than 10 percent of the single-family homes are underwater (it’s 6.3 percent in Pittsburgh, 9.5 percent in Boston). In the past year, home values have risen 1.6 percent in both the Boston and Pittsburgh markets, by Zillow’s calculations. The health of a local residential real estate market is inextricably linked to the health of the local commercial real estate sector. Fully occupied office buildings, hospitals and stores mean there are still plenty of jobs – and those jobs are the lifeblood of a city’s home values. And, while Pittsburgh and Boston have lost key corporate headquarters over the years, the cities maintain vibrant life sciences and education industries.

Paul Horan, Founding Principal of NAI Pittsburgh Commercial, and native of Boston, Massachusetts reacts, “I am pleased to hear about the similarities that both Pittsburgh and Boston share both on and off the field. I have always admired the city of Boston, its culture, and the economical advances it has made in education, healthcare and technology, but I am most proud to call Pittsburgh my home, because I have been able to be a part of a community that continues to grow and earn extraordinary achievements.”

Although the outcome of the football season remains unclear for both teams pursuing Super Bowl status, the fog has lifted from each city in regards to their winning real estate market statistics, and the outlook is very positive.

NAI Pittsburgh Commercial is a Pittsburgh proud locally owned and operated company. To see some of the investment and development opportunities available in the Pittsburgh region click here.

Source: Pittsburgh Business Times
Thursday, November 4, 2010

Pittsburgh was among 44 of the nation's biggest markets that added jobs in September, according to figures released by the U.S. Bureau of Labor Statistics. Pittsburgh ranked 10th in number of jobs created with 9,000 jobs or .91 percent added in September compared to September 2009. The bureau recorded 1,001,600 million private sector jobs for the region in September, up from 992,600 jobs for the same month in 2009.

Read the full article

Pittsburgh has experienced a very stable labor market, and is working to attract and retain high-quality talent, including, young people. Talent attraction to our region can drive the economy. In fact, Pittsburgh has ranked in the top 10 for personal income growth. According to the Pittsburgh Business Times article, personal income has been on the rise in Pittsburgh over the past 25 years, so much so that a new study ranks it No. 6 among the nation’s 100 largest metropolitan areas in terms of income growth.

Portfolio.com, a national business news site affiliated with the Pittsburgh Business Times, examined federal income data covering the period from 1984 to 2009. The study focused on per capita income, a key indicator of earning power and economic vitality, and used a 25-part formula to create an overall score for income growth. Pittsburgh’s per capita income grew 212 percent in the 25 years from 1984 to 2009 and 22 percent in the five years from 2004 to 2009. Pittsburgh's per capita income in 2009 was $42,216.

Pittsburgh continues to climb rankings and improved its score on Moody's latest, of 60 commercial real estate markets during the third quarter, to move up from a tie for 10th place in the second quarter to a tie for fifth, according to Trib Total Media, Inc staff and wire reports. Pittsburgh ranked #1 in 2009 according to Moody’s Investors Services.

“These latest economic indicators bode well for the commercial real estate industry,” said Ralph Egerman, Principal of NAI Pittsburgh Commercial. “When organizations experience growth, they hire. As hiring opportunities improve, demand for office, warehouse and space of all types increase. Additionally; when employment trends upward, people have more disposal income which helps improve occupancy for all types of retail properties.”


NAI Pittsburgh Commercial is a Pittsburgh proud locally owned and operated company. To see some of the investment and development opportunities available in the Pittsburgh region click here.

The Hiring of David J. Thor as Associate

PITTSBURGH, PA – (November 12, 2010) - NAI Pittsburgh Commercial is pleased to announce that David J. Thor has been named as an Associate of the firm. Specializing in Tenant Advisory Services and Agency Representation, David is responsible for assisting clients with strategy, site selection, proposals, financial analyses and lease negotiations, in addition to identifying and securing tenants and/or buyers. His responsibilities also include developing agency and tenant representation relationships and performing the associated client-related professional services in office, industrial, land and retail transactions.

Prior to joining NAI Pittsburgh Commercial, David represented the interests of his clients, while serving as a Product Manager for Accenture, a global management consulting and technology services outsourcing organization. Additionally, David has played an integral role in various local real estate-intensive ventures, cultivating relationships and serving in both Project Management and Operational Management capacities. Mr. Thor is a native of the Pittsburgh area and has over 12 years of professional experience, with a focus on client service. He is a LEED Accredited Professional.

Patrick Sentner, Founding Principal at NAI Pittsburgh Commercial, said that Mr. Thor will be a great asset to the firm and its commitment to providing the highest level of service to its clients. “Mr. Thor’s impressive work experience coupled with his stronger work ethic will help NAI Pittsburgh Commercial to provide our clients with an even higher level of service to our current and future clients.”

NAI Pittsburgh Commercial, locally owned company and established leader of Western Pennsylvania’s Commercial Real Estate Industry, provides results-oriented brokerage, consulting, marketing and research services to businesses and investors throughout the world.

About NAI Global

NAI Global is one of the leading commercial real estate services providers worldwide. Headquartered in Princeton, New Jersey, NAI Global manages a network of 5,000 commercial real estate professionals and 325 offices in over 55 countries, and completes over $45 billion in annual transaction volume. Since 1978, NAI Global clients have built their businesses on the power of NAI’s expanding network. NAI Global’s extensive services include corporate real estate services, brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain consulting and related advisory services. To learn more, visit www.naiglobal.com.


NAI Pittsburgh Commercial is a Pittsburgh proud locally owned and operated company. To see some of the investment and development opportunities available in the Pittsburgh region click here.

In November 1919, President Wilson proclaimed November 11 as the first commemoration of Armistice Day with the following words: "To us in America, the reflections of Armistice Day will be filled with solemn pride in the heroism of those who died in the country’s service and with gratitude for the victory, both because of the thing from which it has freed us and because of the opportunity it has given America to show her sympathy with peace and justice in the councils of the nations…"

Learn more about the history of Veterans Day

In honor of our nations’ veterans we send our thanks and appreciation to the millions who have served our country throughout history. The city of Pittsburgh will honor our local veterans during the annual Veterans Day Parade, starting today at 10:30am in Downtown Pittsburgh.

“Everyone here at NAI Pittsburgh Commercial continuously thinks about our women and men in the armed forces throughout the world, and the tremendous sacrifices that are made by them and their families. Personally, my father is a Colonel in the Marine Corps and my father-in-law is a General in the Army so our family knows very well how difficult the situation is for the members of the U.S. military. To our brave soldiers, their families, and the brave military personnel that have died protecting our freedom, NAI Pittsburgh thanks you and prays for you,” said Gregg Broujos, Founding Principal at NAI Pittsburgh Commercial.

NAI Pittsburgh Commercial is a Pittsburgh proud locally owned and operated company. To see some of the investment and development opportunities available in the Pittsburgh region click here.

Since the collapse of the economy, Las Vegas condos have really taken a hit.  Gut punched sort of.

The problem is that I see these coming on REO property lists and wonder: Who is determining these prices?

Now, usually an appraiser or appraisers do the foot work.  But, when you have more than one for sale in a bulk offering, why are you using the appraiser's single retail price as a comparison?

If I am an investor and I want to acquire say a 50 unit condo building, why (I mean WHY?) would I pay the same retail price for a one unit that an individual unit Buyer who comes along would pay?  I shouldn't be paying the same price?

When you are able to afford to acquire multiple units, shouldn't there be a discount?  If the comparable price for a single condo is -- Example: $150,000.  Then why does the bank or the REO property receiver, put the entire complex -- which is unsold -- up for sale at $150,000 per unit?  This does NOT make any sense.

I have been working with a couple of Buyers that would have acquired property in bulk, if the appraised price for multiples reflected the usual business sense of a discount for taking ALL the units off the banks hands.

Am I naive?  Am I working with too much common sense?  Oh!  Am I NOT sleazy enough?

Should I tell the Bank that they can get 100% of retail market value when I know for sure, they won't?  Should I play "expert" and talk up the price to very knowledgeable Buyers?  They know as well as I do that there are only a few companies/people, who would actually play that game and actually over pay for units that are too much over priced to begin with. 

Yes.  There are real estate people who can "car sales' a real estate property.  And, there are "suckers born every minute." But for what ever reason, these Buyers who believe in that type of marketing with that type of real estate person, who think they are getting such a deal, befuddles me.

My apologies.  I've been a car sales person in my life.  For six months.  Couldn't hack it.  Just wanted to be honest with people.  In real estate, there is too much to loose if you are caught cheating a Buyer or Seller.

Sure.  The property looks good on a listing report.  It looks good if you have many, many listings on one of the real estate services in the Las Vegas real Estate world.  But having an over-priced listing just doesn't sell.  (I know.  I have done it too many times just to appease a seller.)

But, $80,000 per door and then calling it a deal is just what some of the auction houses are doing around this part of Southern Nevada.  "This property was at one time worth many more than it is today." (OK.  I am paraphrasing.)

Still, if you want a good deal in real estate; and/or, you want to acquire a property with passive real estate investment income; and/or you want an honest broker working for you, Call me.  I don't know how to be less than honest with clients.  Just ask anyone would has worked with me in the past.

For Information about Las Vegas Commercial or Real Estate Investment Property, contact David Howes at: david@davidhowes.net

Several years ago -- when I worked for a name brand real estate company -- I was always amused that I was required to earn a certain amount of money to be considered a "Partner."  Now, through the years, I have had business partners which usually meant that I would be required to do most of the grunt work while they would step in and take over at the moment the real estate transaction is coming together and the transaction was closing -- to take their bows and honors of how hard they worked.

For the most part, these "Partners" were capable people.  But as I look at the current real estate picture, I am now asking myself; Why do SVP's think they are sooooo important?  Why do they NOT return your calls?  Why do they have assistants -- who do ALL the work -- do their work?

Recently, I tired to list some REO Properties.  I did the usual paperwork to get on the lists, etc.  But, I am now realizing that I wasn't an "SVP" enough.  I didn't have the arrogant swagger.  I didn't put off a phone call just so I could play a power game of: "I am too busy to take a call from another broker."  OR, more sadly, I didn't think that I was that much more important than the other broker on the other end of the line.  (I have to laugh, because this SVP is NOT a broker but calls himself one because his name brand company call their SVP's brokers.  He is a salesperson.  I AM a Broker.)

Yes.  I am complaining.  While asking for additional information from one of these SVP's, I noticed that the "assistant" was the one who sent me the information via my email.

When asking for clarification information about the property, I noticed the assistant would forward my email to the SVP, the SVP would reply to the assistant, and the assistant, in kind, would forward the reply in the same email to me.  Huh?

Of course, this SVP has done major deals in major markets!  He has worked with some of the largest companies you probably never heard of.  B---S---!  (A little secert: So, have I.)

If this SVP is so marvelous, then: why did he leave those five or six markets and end up in Las Vegas in the twenty something years he has been working in real estate?  How important was he as an "SVP" in those markets that he left?  In my (almost) twenty years in real estate, 18 of those as a licensed Broker, I have only worked in two real estate markets: Southern California and Southern Nevada.

But to this "SVP," I am NOT important enough for him to reply directly to my email, or for him to take my telephone call personally.  It ALL has to be filtered through assistants before it is deemed importnat enough for them to respond directly. 

Arrogance aside, this is just impolite.  And, do NOT given me that "too busy" argument.  They are NOT too busy.  Not in this economic climate!  And, especially, NOT this particular SVP!  Why?  Because I know the SVP.  And, he is just an A--H---! 

As most of them truly are....

For Information about Acquiring or Selling Las Vegas Commercial Investment Property, contact David Howes at: david@davidhowes.net

P.S.: email me, call me, I will reply directly.  Because you are the most important aspect of a real estate transaction: As a Buyer or Seller.

Source: Pittsburgh Post-Gazette, Mark Belko
November 3, 2010

New restaurants are popping up all over the place, a surge attributed in part to Downtown's office, residential and student growth and the deals landlords are willing to offer to fill vacant space.

Overall, at least 15 food establishments, from full-service restaurants to coffee shops, opened Downtown in 2009, according to the Allegheny County Health Department. So far this year, at least 11 more have opened.

Local real estate experts say one of the biggest factors in the restaurant boomlet Downtown and elsewhere was the willingness of landlords, pinched by the recession, to cut deals to fill vacant space.

They are getting deals from developers and the federal government for tenant improvement dollars that previously had been reserved for only the top national chains. It has helped that the chains have been the most cautious about expanding in the current economy.

Another factor is availability of so-called "second generation" opportunities -- new establishments that take over vacant space once occupied by restaurants that fell victim to the recession or other woes.

Not to be overlooked is the burgeoning Downtown residential development; the student population, including the Art Institute of Pittsburgh and Point Park and Duquesne universities; and the influx of new office tenants, such as UPMC and EQT Corp.

All provide potential diners, whether for fast food or fine cuisine.

Read the full article

Restaurants hungry for commercial real estate opportunities, are seeking value in Pittsburgh as a business location. ““It is wonderful to see all of the new and exciting restaurants that are opening in the downtown area. From the owners of Sonoma Grill opening in Market Square; the Penn Avenue Fish Company’s new location in the Golden Triangle; and the Nine on Ninth folks settling in on Liberty Avenue, it’s a great time to be a resident, worker, or visitor in the downtown district. And it’s further proof that residential is the ultimate driver of commercial activity,” said Gregg Broujos, Founding Principal at NAI Pittsburgh Commercial.

Pittsburgh is on the value menu when it comes to a prime location for the restaurant industry. From fine dining to grab and go, Pittsburgh is drawing recognized names and specialty eateries.

Hungry for more? NAI Pittsburgh Commercial is a Pittsburgh proud locally owned and operated company. To see some of the investment and development opportunities available in the Pittsburgh region click here.

John Bilyak, Principal & Director of Industrial Brokerage, Awarded Prestigious CCIM Designation

PITTSBURGH, PA – (November 4, 2010) - NAI Pittsburgh Commercial is proud to announce John Bilyak, Principal & Director of Industrial Brokerage, has successfully completed a comprehensive examination to earn the prestigious Certified Commercial Investment Member (CCIM) designation by the CCIM Institute, one of the nation’s leading commercial real estate associations in the world. A CCIM is a recognized expert in the disciplines of commercial and investment real estate. The designation was awarded during Institute examinations held in Orlando, Florida.

The CCIM designation is awarded to real estate professionals upon successful completion of a graduate-level education curriculum and presentation of a portfolio of qualifying industry experience. The curriculum addresses: financial analysis, market analysis, user decision analysis and investment analysis – the cornerstones of commercial investment real estate.

Only 6 percent of the estimated 150,000 commercial real estate practitioners nationwide hold the CCIM designation, which reflects not only the caliber of the program, but also why it is one of the most coveted and respected designations in the industry.

Bilyak has over twenty (20) years of commercial real estate and business experience. His career in real estate has been primarily focused on the disposition and leasing of land and industrial oriented property. He also concentrates on the sale of income producing office and industrial buildings. Bilyak is a member of the National Association of Realtors (NAR) and the National Association of Industrial and Office Properties (NAIOP).

For additional information on industrial, land and investment opportunities, please contact John Bilyak (ext. 209) at
412 321 4200.

About NAI Global
NAI Global is one of the leading commercial real estate services providers worldwide. Headquartered in Princeton, New Jersey, NAI Global manages a network of 5,000 commercial real estate professionals and 325 offices in over 55 countries, and completes over $45 billion in annual transaction volume. Since 1978, NAI Global clients have built their businesses on the power of NAI’s expanding network. NAI Global’s extensive services include corporate real estate services, brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain consulting and related advisory services. To learn more, visit www.naiglobal.com.

NAI Pittsburgh Commercial is a Pittsburgh proud locally owned and operated company. To see some of the investment and development opportunities available in the Pittsburgh region click here.

Source: CNBC.com
October 2010

Pittsburgh has made a major transformation - from an industrial steel town into a hub for education, health care and the arts. Yet, it’s still surprisingly affordable. The cost of living is 12.2 percent below the national average and the average home price is $116,400, well below the national average of $171,700.

It’s repeatedly ranked as one of the most livable cities: The crime rate is low, it ranks high on both arts and colleges, and it’s at low risk for a natural disaster such as an earthquake, hurricane or tornado.

It’s also repeatedly ranked as one of the best sports cities, with the six-time Super Bowl champion Pittsburgh Steelers, the Pittsburgh Pirates baseball team and the Pittsburgh Penguins hockey team. You would be hard-pressed to find a city with more loyal sports fans – a fact that should not be underestimated when it comes to quality of life.

The unemployment rate is 7.8 percent, well below the national average of 10.2 percent. Indeed.com has named it the No. 18 job market, with two applicants for every job available.

Read the full article

This latest rating pairs nicely with a resume that already includes Best City for Commercial Real Estate, Best Places To Live, Best Housing Market, Best Place to Raise a Family, and Most Bike-Friendly Cities, among other wonderful rankings.

“These favorable statistics, along with our top tier universities and colleges, are among the reasons more and more firms, both nationally and internationally, are committing to do business in Pittsburgh,” said Gregg Broujos, Founding Principal at NAI Pittsburgh Commercial.


NAI Pittsburgh Commercial is a Pittsburgh proud locally owned and operated company. To see some of the investment and development opportunities available in the Pittsburgh region click here.

Saturday, October 23, 2010
Source: Trib Total Media

Pittsburgh continues to climb rankings and improved its score on Moody's latest, of 60 commercial real estate markets during the third quarter, to move up from a tie for 10th place in the second quarter to a tie for fifth, according to Trib Total Media, Inc staff and wire reports.

The region ranked first in the nation at year end of 2008.

The region scored an 84 in the multi-family market, aided by having the lowest vacancy rate at 2.4 percent. Its next highest total was 74 in the limited service hotel group, followed by a 68 in the Downtown office category.

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This latest rating pairs nicely with a resume that already includes Best City to Relocate, Best Places To Live, Best Housing Market, Best Place to Raise a Family, and Most Bike-Friendly Cities, among other wonderful rankings.

Gregg Broujos, Founding Principal at NAI Pittsburgh Commercial, reacts to this latest ranking, “This latest ranking of our city confirms that Pittsburgh’s well-known and consistent reputation as a historically stable commercial real estate market keeps us in the upper tier of the United States. We are the Pittsburgh Steelers of the Multi-Family market – either number one, or close to it.”


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