Nova Place in Pittsburgh: from shopping mall in the city to 1.2 million square feet of first class office space hosting companies in industries like robotics (Gecko Robotics), financial services (PNC Bank), data (Expedient), coworking (Alloy 26), startup acceleration (Innovation Works), tech (Pittsburgh Tech Council) and much more.
As you can tell, the flexibility of the development has attracted a variety of companies across global and local playing fields. That very flexibility is allowing Faros Properties, the developers behind Nova Place, the ability to meet market demand.
What’s the Pittsburgh market demanding?
Life sciences space.
As the top emerging life sciences hub in the U.S. with hundreds of thousands of square feet of life sciences space already in development, the dedication from Faros to additional space speaks to the rapid expansion of the sector and growing needs from established and startup companies, outside investors and universities.
Are you working from home? Are you returning to the office only a few times a week? Do you notice sparser sidewalks, building lobbies, and restaurants at lunch?
The pandemic-induced trends affecting your day-to-day work life and the meaning of the observations you’re having when you’re in the office or walking around a city are not just impacting commercial real estate, they’re impacting businesses – large and small.
Kim Ford, CEO of Rise Pittsburgh, has worked in commercial real estate for 25 years. She has seen a dramatic shift in how commercial real estate over the past 18 months. What does it mean for companies? What does it mean for the industry moving forward? These are questions she and her team at Rise Pittsburgh are asking – and looking to answer – daily. In today’s blog, Kim examines some commercial real estate trends that are accelerating because of the pandemic.