sibel grouse: Top commercial, residential real estate deals of the week

Sunday, December 2, 2012

Top commercial, residential real estate deals of the week | TribLIVE

By Sam Spatter

Published: Saturday, December 1, 2012, 9:02?p.m.
Updated 2 hours ago

DEALSOF THE WEEK

A quick look at recent retail, commercial and industrial projects, sales and leases of note in Western Pennsylvania:

$4.7 million (combined price)

Properties sold: 922 Brush Creek Rd., Cranberry; 14200 Rt. 30, North Huntingdon.

Seller: Bridge Construction, Pittsburgh

Buyer: Guardian Storage Solutions, Pittsburgh

Details: Two Lock-Up Storage Centers, with Cranberry having 511 storage units and North Huntingdon, 411 storage units.

Comment: ?Bridge Construction built our local storage units, and decided to sell these two to us, giving us locations in areas we did not previously have,? said Steven H. Cohen, Guardian owner/president.

$3.9 million

Property sold: 610 Alpha Dr., RIDC Park, O?Hara

Seller: Regional Industrial Development Corp., Pittsburgh

Buyer: Penhurst Realty II LP, a unit of Tsudis Chocolate Co., Pittsburgh

Details: Acquired building it has occupied, following receipt of a $1.56 million loan from Pennsylvania Industrial Development Authority, which allowed Tsudis to reconfigure space for expansion, hire 75 employees for a total of 275.

Comment: ?Tsudis Chocolate had been leasing the building and decided to buy it, and make some improvements as it expands its operation there,? said Don Smith, Jr., RIDC president.

$2 million

Property sold: 150 Lake Dr., McCandless

Seller: Frank and Virginia Pelly, Pittsburgh

Buyer: Lake Drive Realty Partners LLC, Pittsburgh

Details: Two-story, 26,650-square-foot building, 90 percent leased.

Comment: ?A group of local investors purchased the building as an investment, and I still have 6,400 square feet available for lease,? said Jessica Jarosz of Colliers International/Pittsburgh who worked with Paul Fedorko of Marcus & Millichap?s Pittsburgh office who represented the seller.

TOP DOLLAR HOMES

Recent home and condominium sales that brought top prices in Western Pennsylvania:

$675,000

Property: North Strabane

Seller: William Ripper

Buyer: Perry and Kyle Dick

Details: Custom brick and stone Provincial, on 5.25 acres, two-story family room with wall of windows, stone fireplace, private den with French doors, master suite with Corian counters, jet tub, his-and-her vanities, extended level aggregate driveway and parking pad.

Comment: ?The buyers loved that this was in a private five-acre setting, yet close to Donaldson?s Crossroads. They liked the floor plan, two-story family room, huge gourmet maple kitchen and first floor master suite,? said Tim Ulam with Sue Franz of Coldwell Banker Real Estate.

$642,500

Property: Adams

Seller: Christopher Schueller

Buyer: Michael and Jennifer Zatchey

Detaisl: Brick Provincial with open family room, paneled study with built-in bookcases, mud room with large pantry, five bedrooms, four and a half baths, second-floor laundry, patio off kitchen/family room.

Comment: ?Buyers loved the neighborhood and flat back year, yet wooded, liked the finished lower level with a media room, the bedroom and the ?school room? for children,? said Kim Marie Angiulli, Coldwell Banker Real Estate.

$580,000

Property: Point Breeze

Seller: Sidney and Sylvia Busis

Buyer: Jeffrey Peterson and Roberta Miller

Details: Contemporary-style house on a cul de sac with second-floor office, all bedrooms with vaulted ceilings, shower for pet or clean off muddy feet, private back yard with patio, two-car garage with extra wide driveway.

Comment: ?Buyers found this a wonderful home, built by and loved by the sellers. They loved the contemporay archecture with great space and spacious indoor,? said Tamara Skirboll, Coldwell Banker Real Estate.

Sam Spatter is a staff writer for Trib Total Media. He can be reached at 412-320-7843 or sspatter@tribweb.com.