US Steel Could Move Out of the US Steel Tower (Pittsburgh: lease, tenant)

[youngabe]

According to an article on the Trib's website, US Steel is exploring other options for office space.

U.S. Steel could move out of Downtown office tower - Pittsburgh Tribune-Review

Their lease apparently expires in 2017. Do they not like the fact that UPMC is now the building's largest tenant and basically branded over their long-term identity? Hmm...thoughts? Wonder where they'd try and move headquarters to?

[MathmanMathman]

I suggest a new and taller building.

[youngabe]

Originally Posted by MathmanMathman

I suggest a new and taller building.

I'm all for that!

The Business Times has the same article. I can only read part of it because I don't subscribe. Their article almost makes it out like headquarters could leave Pittsburgh altogether. That would not be a good thing.

U.S. Steel?s headquarters search - Pittsburgh Business Times

[greg42]

The Biz Times has more details, like a particular parcel that's being evaluated in Findlay Township. Can't confirm that it's US Steel, but multiple people said they'd be surprised if it wasn't.

Been scouting 100+ acre parcels in north and west suburbs for 6 months. That's a lot of space. Perhaps a new campus would allow them to consolidate some things.

Although you never really want to see the big corp HQ leave downtown, it doesn't appear from this they are interested in leaving the area. Oddly enough, Pittsburgh only became their official HQ sometime around 1970 after the building was completed.

Biggest problem is without US Steel in it the ugly building no longer has any excuse for being that ugly.

[Geeo]

I wouldn't read all too much into this. I know tonight's TV news will probably lead with a panicky BREAKING NEWS banner and, "Could a storied Pittsburgh company be leaving the Steel City?"

The fact is that corporate headquarters for industrial companies aren't what they used to be. US Steel is not even the largest tenant in that building anymore. Corporations move around a lot these days. Pittsburgh's economy is no longer dependent on any one industry or corporation like it was 50 years ago, and that's a good thing. Pittsburgh is attracting new and smaller companies that are remaking the regional economy for the better. This is an emotional/sentimental story more than anything else. And a good headline for TV.

[MathmanMathman]

Originally Posted by youngabe

I'm all for that!

The Business Times has the same article. I can only read part of it because I don't subscribe. Their article almost makes it out like headquarters could leave Pittsburgh altogether. That would not be a good thing.

Originally they thought of building, at that time, the world's tallest building. But the Burj Khalifa in Dubai has really raised the bar, 2700+ feet . I'd settle for tallest in Pennsylvania (Take that Philly! )

Alcoa went with a new mid-rise thinking that was better for employee interaction so maybe USS is thinking along similar lines? Some companies really do worry about having prestigious addresses in a marquee building.

[captainmidnight]

Originally Posted by greg42

The Biz Times has more details, like a particular parcel that's being evaluated in Findlay Township. Can't confirm that it's US Steel, but multiple people said they'd be surprised if it wasn't.

Been scouting 100+ acre parcels in north and west suburbs for 6 months. That's a lot of space. Perhaps a new campus would allow them to consolidate some things.

That makes sense if they want to consolidate operations. Right now they have people in the USS Tower, Penn Liberty Plaza, and Muriel Street. Combining everyone into one campus would save some money and probably cheaper $ / square foot. There is tons of land out there in Findlay Township. Or I could see them going outside the county for lower taxes.

I think it would be a big loss for Downtown and shows further proof of the trend to move corporate headquarters to the suburbs.

14 floors would be a lot of space to fill, but I'm sure UPMC could do it and continue their dominance.

[AaronPGH]

Originally Posted by bmantz65

I think it would be a big loss for Downtown and shows further proof of the trend to move corporate headquarters to the suburbs.

Since when is this a trend?

[bradjl2009]

I hope this doesn't happen. It would be a loss and sad in a sentimental way for Downtown, but as long as they don't move completely out of Pittsburgh......

[Geeo]

Well, Sears moved from the Sears Tower in Chicago to some suburban pasture called Hoffman Estates, Illiniois, and the Loop survived. JC Penney moved from Manhattan to Plano, Texas and the Big Apple is still there. I think downtown Pittsburgh will survive, too.