HCRE Newsletter 2025

Welcome to Hanna Commercial Real Estate’s Newsletter!

2025

Pittsburgh Office

Hanna Commercial Real Estate Monthly Newsletter

September 2025

ISSUE 05

In this issue Retail Client Focus: Wingstop Oktoberfest 2025 Event tickets, raffles and sponsorship opportunities

What’s Happening @ Hanna Commercial Welcome to the Fall Edition of the Hanna Commercial Newsletter! As the season shifts and Pittsburgh’s skyline continues to evolve, we’re here to bring you timely insights, market updates, and strate- gic perspectives from the region’s dynamic commercial real estate landscape.

Listing Spotlight 1200 Reedsdale Street

Closed Deals & New Listings

Hanna Commercial Pittsburgh Newsletter / September Edition 1

2025

You’re Invited to our Hanna CRE Pittsburgh Oktoberfest Fundraiser!

Hanna Commercial Highlights

Welcome to the Fall Edition of the Hanna Commercial Real Estate Newsletter! As September settles in and the city begins to trade sunshine for crisp air and golden leaves, it’s a natural time to take stock of recent wins and set our sights on what’s ahead in Pittsburgh’s dynamic commercial real estate market. In this issue, we’re excited to do a deep dive on our Retail Client: Wingstop, highlight standout new listings and recent closings, and share insights that reflect the evolving energy of the season. Whether you’re a seasoned investor, a growing entrepreneur, or simply keeping a pulse on the mar- ket, we invite you to dive into the opportunities and updates within these pages. Let’s channel the drive of Q3 into a strong, strategic finish—and step into fall with clarity, confidence, and momentum.

Table of Contents:

Oktoberfest 2025

Retail Client Focus: Wingstop

Hanna CRE’s annual Oktoberfest is back, and this year we’re teeing up something new! Join us on Thursday, October 16th at 4:30 PM for an evening of festive fun, friendly competition, and community impact at our first-ever Putt Putt Tournament. We’re even raffling off a Scotty Cameron Putter! All proceeds will benefit the Howard Hanna Children’s Free Care Fund, helping ensure every child gets the medical care they need—regardless of cost.

Office Fall Forecast

Listing Spotlight: 1200 Reedsdale St

Recently Closed Deals & New Listings

Get ready to raise a stein and sink some putts for a great cause!

Buy your tickets today:

Do you want to be in the loop? Don’t miss out on our latest and greatest. Sign up for our newsletter & email list and have all the updates delivered to your inbox.

Hanna Commercial Pittsburgh Newsletter / September Edition

2025

Retail Client Focus: Wingstop

Wingstop is actively expanding in the Pittsburgh MSA with the following criteria: • 1,500 SF • 18’ - 20’ store front min. • endcap or inline • minimal indoor seating • parking • for delivery or pickup all sites will be considered Contact: Kevin Langholz or Spencer Lunt

New Location: Banksville Plaza, PA

Under Construction: Cranberry Commons, PA

Kevin Langholz & Spencer Lunt of Hanna Commercial Real Estate are proud to represent Wingstop locally, having successfully opened six new sites across the Pittsburgh region in just this past year, bringing the total number of Pittsburgh Wingstop locations to 17. This partnership reflects our commitment to supporting high- growth brands with strategic site selection and market expertise. We continue seeking out additional new sites. Wingstop, founded in 1994 in Garland, Texas, began as a small aviation-themed wing joint and quickly evolved into a global fast-casual powerhouse. After launching its franchise model in 1997 and going public in 2015 (Nas- daq: WING), the brand has expanded aggressively, now operating 2,818 locations worldwide—including 2,411 in the U.S. and 407 across more than 15 international markets. In 2025 alone, Wingstop added 129 new units in Q2, marking its fourth consecutive quarter of triple-digit growth. The company has raised its global expansion target to 17–18% for the year, driven by strong domestic momentum and a strategic push into international territories. With over 98% of its stores franchised and digital sales accounting for more than 72% of revenue, Wingstop continues to scale through tech-forward operations, streamlined service models, and bold flavor innovation—positioning itself as a serious contender for top-tier global restaurant brand status.

Opportunity: Join Wingstop

• 1,800 to 3,579 SF of Retail Space Available • Next to Butler High School and Minutes From Butler Memorial Hospital • Located on New Castle Rd Right Outside of Downtown Butler • Great Traffic Counts - over 22,900 vehicles daily • Convenient Access from New Castle Road BUTLER COUNTY OPPORTUNITY RETAIL FOR LEASE 191 NEW CASTLE ROAD, PITTSBURGH, PA 15017

New Location: New Castle, PA

New Location: Belle Vernon, PA

New Location: Monroeville, PA

1,800 - 3,579 SF RETAIL AVAILABLE JOIN WINGSTOP!

DOWNLOAD BROCHURE HERE

SPENCER LUNT SLUNT@HANNACRE.COM 412-261-2200 KEVIN LANGHOLZ KLANGHOLZ@HANNACRE.COM 412-261-2200 If you have a site youd’ like to submit, contact:

Hanna Commercial Pittsburgh Newsletter / September Edition

2025

Fall Forecast: Market Moves & Momentum Pittsburgh Office Market Snapshot – Heading into Q4 2025 As the leaves turn and Q3 winds down, Pittsburgh’s office market is showing signs of recalibration. While vacan- cy rates remain elevated, subtle shifts in absorption, rental pricing, and tenant preferences suggest a market in quiet transition. Here’s what to watch as we step into fall: Office Market Metrics at a Glance

VACANCY RATE ASKING RENT

AVAILABILITY Up to 19.6%, reflecting continued tenant churn and cautious leasing behavior 19.6%

Holding steady at 17.4%, signaling a plateau after several quarters of volatility 17.4%

$25.23 Steady increases despite high vacancy

Top 3 Predictions for Q4

Flight to Quality Will Accelerate Tenants are prioritizing upgraded, amenity-rich spaces. Expect increased demand for Class A buildings with flexible layouts and wellness features. Repurposing Over New Builds With construction costs rising, developers are pivoting toward adaptive reuse and renovation strategies rather than speculative new projects. Suburban Submarkets Gain Ground As hybrid work models persist, suburban office clusters may see a modest uptick in leasing— especially near retail corridors and transit hubs. Strategic Takeaway While the Pittsburgh office market isn’t roaring into Q4, it’s quietly repositioning. For investors and occupiers alike, this is a season to refocus portfolios, reassess space needs, and lean into strategic upgrades. The momen- tum may be subtle—but it’s building.

Hanna Commercial Pittsburgh Newsletter / September Edition

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Listing Spotlight: 1200 Reedsdale Street

Hanna CRE is proud to bring to market this rare opportunity to acquire a premier 129,000-square-foot office building located in the heart of Pittsburgh’s dynamic North Shore. Situated on 2.28 acres, the property is currently 83% occupied, offering immediate income stability with upside potential through lease-up and strategic repositioning. The site boasts unmatched proximity to Pittsburgh’s most iconic destinations—including Acrisure Stadi- um, Rivers Casino, and the Carnegie Science Center—making it a magnet for tenants seeking visibility, accessibility, and prestige.

• 129,000 SF office Building for sale • 83% Occupied • 2.28 Acres on Pittsburgh’s North Shore • Adjacent to river’s casino, acrisure stadium and the Carnegie science center • Rare opportunity to purchase • Located steps from all North Shore developments

DOWNLOAD OFFERING HERE

For more information, contact:

Representative rendering

MICHAEL CONNOR, SIOR MCONNOR@HANNACRE.COM 412-261-2200

GARY WILSON, SIOR GWILSON@HANNACRE.COM 412-261-2200

Hanna Commercial Pittsburgh Newsletter / September Edition

2025

Listing Spotlight: 1200 Reedsdale Street

NORTH SHORE LOCATION HIGHLIGHTS

6.5M ANNUAL VISITORS 1K+ ANNUAL EVENTS

$830M

$1.6B

CONSUMER SPENDING

SITES UNDER DEVELOPMENT

data pulled from placer.ai

ACRISURE STADIUM 1M+ VISITORS ANNUALLY

1200 REEDSDALE ST. 129,000 SF BUILDING

RIVERS CASINO 3M+ VISITORS ANNUALLY

21 WEST LUXURY APARTMENTS

“LOT 10” MIXED-USE PROJECT:

DEVELOPMENT

DOWNLOAD OFFERING HERE

$100 million development by Oxford Development, 11-story high-rise fea- turing 291 rental units

A 68,400-seat venue home to the NFL’s Pittsburgh Steelers and University of Pittsburgh Panthers football. It also hosts large concerts and occasional special games.

8-story mixed-use complex with 48 residential units (on four upper floors), retail and office space (on lower floors), and a new 445-space parking garage

ESPLANADE RIVERFRONT DEVELOPMENT: A 15-ACRE, $600 MILLION MIXED-USE “LIFESTYLE HUB”

DEVELOPMENT

PNC PARK 1M+ VISITORS ANNUALLY

KAMIN SCIENCE CENTER 500K+ VISITORS ANNUALLY

ACRISURE LOT REDEVELOPMENT $30 MILLON MIXED-USE DEVELOPMENT

STAGE AE 300K+ VISITORS ANNUALLY

Key features include a nearly 200-foot Ferris wheel, a marina, extensive public park space and trails, plus 400+ apartments, 105+ condo units, a 225-room hotel, an aquarium, museum, grocery store, restaurants, and retail – all connected by a riverfront promenade.

The Steelers (through a partnership with Walnut Capital) plan a $30 million commercial development on a 450-car surface parking lot immediately across from Acrisure Stadium. This project would convert the lot (currently owned by Kamin Science Center) into a mixed- use hub with retail and office space.

38,747-seat baseball stadium known for its scenic views and home to the Pittsburgh Pirates Baseball Team. It also hosts large concerts and occasional special games.

Hanna Commercial Pittsburgh Newsletter / September Edition

2025

Featured Listings:

Recently Closed Deals:

South Side Building For Sale 2320 East Carson Street

1187 Butler St. Sale Price: $415,000 Sold by: Jay Phoebe & Judd Powell

5300 Penn Ave. Sale Price: $895,000 Sold by: Jay Phoebe The Crane Building 15,408 SF Lease Tenant: Free Market Health

• Asking Price: $375,000 • 3,000 SF located in the Heart of the South Side • Near the intersection of Birmingham Bridge and East Carson Street • First floor retail - two car garage off Carey Way in the rear • Zoned LNC • Average Daily Traffic: ±21,000 • Upper floors configured for 3BR/2BA apartment

Listing Agents: Jay Phoebe & Brendan McManus

5426 Walnut St. 1,700 SF Lease Tenant:

DOWNLOAD BROCHURE HERE

South Side Building For Sale 2222 East Carson Street • Asking Price: $495,000 • 3,600 SF located in the Heart of the South Side • Intersection of Birmingham Bridge and East Carson Street • First floor retail - two car parking lot off Carey Way in the rear • Zoned LNC • Average Daily Traffic: ±21,000 • Full dry basement • Upper floors configured for residential

Laser Away Tenant Rep: Craig Polard

Landlord Rep: Bruce McClelland

Seeking Sites: Hanna Commercial Real Estate has been retained as the exclusive representative for North Pittsburgh Oral Surgery in their search to Lease Medical Office Space

Listing Agents: Jay Phoebe & Brendan McManus

DOWNLOAD BROCHURE HERE

Corner Lot For Sale North Boundary Road, Cranberry • 2.0 usable acres available for lease • Great Cranberry Township location along Route 19 with over 25,000 vehicles daily • Ideal uses include gas station/ convenience, car wash, QSR, restaurant

Size: Up to 3,500 SF Timing: Occupancy by Q2 2026

Location: Beaver, Butler, Fox Chapel Preferences: 2nd Generation Medical Office Space Will consider free-standing Office or Strip mall

Boundary Lofts

Please send all marketing materials, floor plans, pricing, etc. for all sites to: Emily Muntz emuntz@hannacre.com 412-261-2200 Michael Connor, SIOR mconnor@hannacre.com 412-261-2200

DOWNLOAD BROCHURE HERE

Listing Agent: Adam Joyce

Hanna Commercial Pittsburgh Newsletter / September Edition

2025

Let’s Work Together. At Hanna Commercial, we don’t just know real estate—we live it. Our deep market expertise and proactive approach help you uncover opportunities, navigate challenges, and make smart, strategic moves. Whether you’re exploring your next investment or optimizing your current portfolio, we’re here to guide you every step of the way. Ready to get started? Reach out by phone or email—we’ll connect and craft a plan tailored to your goals.

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