LESS than anemic job growth for region, #84/90 (Pittsburgh, Beaver: big home, universities)

[Joe_P]

Regardless it looks like the strip and north shore is driving the new business growth coming into the city. Downtown has definitely cooled off as a destination for business.

pittsburghaccuweather, downtown is a mature market. Your aren't going to see growth downtown like you would in the Strip, expecially with the type of space leased.

[Independentthinking83]

Originally Posted by Joe_P

pittsburghaccuweather, downtown is a mature market. Your aren't going to see growth downtown like you would in the Strip, expecially with the type of space leased.

What is pittsburghacuwather?

Could you provide some links or documentation to support your argument?

[Joe_P]

What is pittsburghacuwather?

[DanielMorgan]

Originally Posted by _Buster

Honeywell is opening a new research lab in the Strip. Hiring software engineers and robotics people. The whole area around north shore/ strip is really growing with software - also Microsoft is expanding its presence. With the new SAP building and the software center in the north side, and the new Facebook and Apple presence in the Strip, the fringe of downtown is really becoming a hotbed of not just robotics but just general software as well. I think Oracle just expanded there too.

They are taking over the Bosch space, which is sizable. Anyone know the proposed headcount?

[Independentthinking83]

Originally Posted by DanielMorgan

They are taking over the Bosch space, which is sizable. Anyone know the proposed headcount?

Bosch was in the southside works. The SQ ft will be 25,000. I’d bet around 15 to 25 new jobs with that space.

[DanielMorgan]

Originally Posted by Independentthinking83

Bosch was in the southside works. The SQ ft will be 25,000. I’d bet around 15 to 25 new jobs with that space.

No, I meant the Bosch Research and Technology Center, right next to the new Cinderlands Warehouse, in the strip. (https://goo.gl/maps/YYWkhjLy1f3U1VPC6)

There is a Biz Times article behind the paywall that may have additional details. I did already find Honeywell advertising for jobs at that location: https://honeywellcareers.dejobs.org/...ania/usa/jobs/

[Independentthinking83]

Originally Posted by DanielMorgan

No, I meant the Bosch Research and Technology Center, right next to the new Cinderlands Warehouse, in the strip. (https://goo.gl/maps/YYWkhjLy1f3U1VPC6)

There is a Biz Times article behind the paywall that may have additional details. I did already find Honeywell advertising for jobs at that location: https://honeywellcareers.dejobs.org/...ania/usa/jobs/

I didn’t realize they were in the strip as well. It’s good for Pittsburgh to have Honeywell. 25,000 sq. Ft is not very large. I am guessing they will probably have a max of 15 to 25 employees in that office, unless they expand right away.

So what is happening to Bosch down there if Honeywell takes their space?

[jea6321]

Originally Posted by Independentthinking83

I didn’t realize they were in the strip as well. It’s good for Pittsburgh to have Honeywell. 25,000 sq. Ft is not very large. I am guessing they will probably have a max of 15 to 25 employees in that office, unless they expand right away.

based on statistics, you would expect about 100-200 jobs for 25,000 sq ft of office space. it varies a good bit based on specific company needs. No company is going to take 25k ft of space in a high cost location for 15-25 people unless they anticipate hiring a bunch of positions in the short term.

https://www.officefinder.com/how.html

[Mtl-Cns]

Originally Posted by Independentthinking83

What is pittsburghacuwather?

Could you provide some links or documentation to support your argument?

The only data you would need would be weather the price/sq foot has increased/decreased/or remained stagnant if you believe in supply & demand.

There is certainly no evidence to show that businesses are fleeing downtown. This conversation is about how tech businesses, predominately robotics, are clustering in the strip. Just because a new business group is clustering somewhere doesn't mean that another area is in a state of decline.

[Independentthinking83]

Originally Posted by Mtl-Cns

The only data you would need would be weather the price/sq foot has increased/decreased/or remained stagnant if you believe in supply & demand.

There is certainly no evidence to show that businesses are fleeing downtown. This conversation is about how tech businesses, predominately robotics, are clustering in the strip. Just because a new business group is clustering somewhere doesn't mean that another area is in a state of decline.

The vacancy rate for downtown office space is 14 percent. Rents for downtown are now under 26.50 sq.ft. Price per sq ft appears to be dropping each quarter.

This report was by cushman and Wakefield. Greater downtown, ie. strip district is the hot spot and vacancy is dropping. Rents are almost $26 per sq. Ft.