Cool Deals: Capturing the New Market in Urban Commercial Real Estate

Cool Space Locator and the Carnegie Mellon University Center for Economic Development present Cool Deals: Capturing the New Market in Urban Commercial Real Estate.

*Click here to view the full report*

Commercial real estate is heating up in Pittsburgh's urban communities, and the region’s most innovative companies want it.  Our research identifies the types of firms that want to locate in urban offices, the spaces they need, and strategies for harnessing this market. 

The full report identifies the kinds of companies interested in urban office space, what they expect in urban offices, and an estimate of this market’s economic impact. The report also details strategies for stakeholders in real estate, community development, and public policy to best harness the profitability of this emerging market.

Research and report sponsored by the Roy A. Hunt Foundation.

What people are saying:

“This report reinforces what those of us in revitalization have always known: Pittsburgh's buildings, streets and neighborhoods are energizing and inspiring. These are the environments that foster creative thinking. In fact, it’s in our “cool spaces” that revolutionary ideas are born!”

– Alecia Sirk, URA Mainstreets/Elm Street Coordinator

“Urban office space is an important asset in the growth of our region's economy.”

– Bob Gradeck, Center for Economic Development

“We are seeing an increase in the number of requests for ‘cool’ urban space and not just from the ‘expected’ groups like start-ups and creative firms, but from major corporate users as well.”

– Jeremy Kronman, Executive Vice President, CB Richard Ellis

“From the Cool Deals report, we know that parking is a major concern of businesses when they are choosing locations.  It’s about finding solutions for employee transit that is responsive to the real time recruiting needs of business.  We need to be focused on creating comprehensive transportation solutions that support business and workforce development.  The future of the regional economy may depend on it.” 

– Bill Peduto, Councilman, City of Pittsburgh

“For the first time in forty years, with the coming of Whole Foods and Trader Joe’s and other major retailers, and the smaller neighborhood spots like Abé, we finally have the amenities in East Liberty that office users are looking for.”

– Rob Stephany, East Liberty Development Inc.

“The small businesses that we work with are the businesses that will build the regional economy in the next generation. Cool space reflects their identity as creative innovators tied to the history of Pittsburgh.”

– Kyra Straussman, Founder & President of Cool Space Locator

*Click here to view the full report*