Seagate Technology Building
One Waterfront Place | Pittsburgh, PA

  

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About the Region

The Strip District

History of the Strip District

The Seagate building is located in the section of Pittsburgh referred to as the Strip District or simply the Strip. The Strip runs along the Allegheny River from 11th Street to 33rd Street and is only as wide as three city blocks reaching Liberty Avenue.

Once home to mainly heavy industrial factories and the diverse immigrants that worked their, the Strip later became the hub for wholesale produce merchants. Railroad tracks ran down up and down the Strip, mainly for use of the factories, and produce was stripped from these trains and unloaded directly into warehouses.

In the 1950’s, grocery stores became more convenient and available, these wholesalers started to lose business. Some of these wholesalers opened retail stores along Smallman Street and Penn Avenue. Today, these stores still exist and on Saturday mornings, the streets of the Strip District are filled with vendors and patrons looking for ethnic foods and fresh produce. On the weekend evenings, the Strip is filled with college students and club patrons looking to have fun. The Strip district is home to many bars, dance clubs as well as restaurants ranging from the famous Primanti Brothers Sandwich shop to upscale dining.

The Senator John Heinz History Center is located in the Strip, as well. Located across from the new Hampton Inn that was constructed last year, the 275,000 SF history and educational center opened its doors in 1996. Included in the museum is the Western Pennsylvania Sports Museum.

Office Tenants

Galletta Engineers, Dollar Bank and SAI Consulting Engineers are some of the largest office users in the Strip District. The Pittsburgh Opera has recently purchased the former Westinghouse Air Brake facility on Penn Avenue that will be renovated into their new rehearsal facility as well as office space. The 30,000 SF building, originally constructed in 1870, was purchased for $2.5 million. Many firms search for a specific type of office space in the Strip. Over the years, developers have renovated older warehouse buildings into office space with high and open ceilings, showing exposed duct work and sometimes steel or wood support beams.

Residential Renovations

The Armstrong Cork Factory building which has been converted to 295 apartments has opened to residential tenants this November 2006. When the $60 million project is completed it will include retail, parking garage and a river walk with marina. Currently, there are 50 apartments rented.

The Cork Factory will have competition from a newly announced condo project along Smallman and 25th Street - Otto Milk Building – 2501 Smallman Street. Seven buildings have been purchased buy a Philadelphia developer to build-out 70 condos ranging is size from 800 to 2,000 sq. ft.

An additional 32 units are planned for a former equipment warehouse at 1221 Penn Avenue known as the Hardware Lofts. The condominium units will range in size from 850 SF to 2,100 SF and will all have 11 ft to 14ft ceilings and floor to ceiling windows. Unit prices will start in the mid-$200,000 and the penthouse units will start upwards of $800,000.

The Brake House Lofts were completed in 2001. The 18 loft style units were renovated from the building that was once home to the Westinghouse Air Brake facility. The exposed mason and steel beams as well as the semi-transparent, moveable walls are the attractive features that draw the residents to the building.

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The Pittsburgh Region at a Glance - Quality of Life

Affordable Living

Pittsburgh is ranked 9th in lowest cost of living in the nation ranked by Forbes Magazine.

Quality Higher Education/Workforce

Pittsburgh is ranked 2nd most educated population in the nation with an abundant pipeline of 31,200 graduates per year from 35 universities by Business Facilities.

Local higher education institutions include: Carnegie Mellon University, the University of Pittsburgh, Penn State University, Duquesne University, Robert Morris University, Point Park University, and Chatham University.

World Class Health Care

Pittsburgh, a city on the cutting edge of health care, transplant and research, also offers a full range of traditional health services and is home to more than 50 hospitals, including 20 in the city. The University of Pittsburgh Medical Center (UPMC), a leading American health care provider and institution for medical research, and the regions largest employer, has 19 hospitals including two surgery centers, a diagnostic center, and 17 assisted living facilities. U.S. News and World Report has ranked the system as the top hospital system for six years.

Sports Community

Pittsburgh is home to the five time Super Bowl winning Pittsburgh Steelers; five-time World Series Champions, Pittsburgh Pirates; and the Pittsburgh Penguins, who have won two Stanley Cup championships.

Abundant Cultural Amenities

Pittsburgh strongly supports the visual and performing arts. The city’s Cultural District includes Heinz Hall, home to the Pittsburgh Symphony Orchestra and the Benedum Center, home for Pittsburgh Ballet, Opera, Dance Council, and Civic Light Opera and the soon to open August Wilson Center for African American Culture

Leisure Activities

Phipps Conservatory and Botanical Gardens encloses more than two acres of floral exhibits. The Pittsburgh Zoo and PPG Aquarium display more than 4,000 animals representing 475 species in naturalistic habitats over 77 acres. The National Aviary has about 600 birds in various simulated habitats. Kennywood Park, "America’s Favorite Traditional Amusement Park" and "the Roller Coaster Capital of the World," is 10 miles southeast of downtown Pittsburgh. The rivers and parks provide cycling and running paths, and water sports such as swimming, rowing, white water rafting, skiing, and fishing. Pittsburgh’s Parks and Recreation Department operates many educational and sports and fitness activities year-round, including aquatics, bicycling, tennis, senior games, lawn bowling, ice skating, and BIG League sports, a collection of baseball and softball leagues and tournaments.

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About the Pittsburgh Market

Pittsburgh ranked 3rd in the "Top North American Cities of the Future" in The Financial Times Magazine Pittsburgh scored in the top 10 of all seven categories used to rank the cities including; best economic potential, best infrastructure, best development and investment, promotion, most cost effective, best human resources, best quality of life and most business friendly

Home to 7 Fortune 500 companies

In 2007, Pittsburgh moved into a three-way tie for 8th place with Charlotte and St. Louis among headquarters cities...

Company Rank Revenues*
United States Steel 147 $15.70
PPG Industries 231 $11.04
H.J. Heinz 269 $10.94
PNC Financial Service Group 290 $09.33
Mellon Financial 358 $06.40
Wesco International 425 $05.32
Allegheny Technologies 455 $04.94
Source Fortune Magazine
* Amount in billion dollars
 

Useful Links

Pittsburgh Life Sciences Greenhouse
www.pittsburghlifesciences.com

Alco Parking
www.alcoparking.com

Pittsburgh Technology Council
www.pghtech.org

Pittsburgh URA
www.ura.org

Carnegie Mellon University
www.cmu.edu

Pitt University
www.pitt.edu

Pittsburgh Regional Alliance
www.pittsburghregion.org

Port Authority of Allegheny County
www.portauthority.org

Government

Commonwealth of Pennsylvania
www.pa.gov/portal/server.pt

City of Pittsburgh
www.city.pittsburgh.pa.us/

Allegheny County
www.county.allegheny.pa.us

Local Tech Companies

Medrad
www.medrad.com

UPMC
www.upmc.com

McKesson Automation
www.mckesson.com/en_us/McKesson.com

BlackBox
www.blackbox.com

 

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Contact Information

Randall G. McCombs, SIOR

Executive Vice President
Grant Street Associates
Pittsburgh, PA

412.697.1678

Donald H. Reimann, SIOR

Senior Vice President
Colliers International
San Jose, CA

408.282.3888

       

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Pittsburgh, Pennsylvania 15219
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San Jose, California 95113

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