Mid Atlantic Real Estate Journal — Pennsylvania — February 10 - 23, 2012 — 41A
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W ESTERN PA S POTLIGHT
ERCER, PA — Penn- Northwest Develop- ment Corporation Executive Director Reichard retires after 25 years Penn-Northwest hired Seitz to direct Economic Dev. Agency M
Yozwiak, Reehil & Matthews rep seller M&M brokers a $1.2m 6,880 s/f building
celerate new investment and job creation is very exciting. Places that are succeeding in their approach to economic growth are doing it collaborat- ing on a regional level. Randy was the best candidate and his experiences aligned well with the direction that PNDC is heading.” At the Oil Region Alliance, Seitz was recruited to lead the newly formed organiza- tion that was created from consolidation of four separate agencies. During his tenure, Seitz was successful in helping secure $60 million in capital investment for job creation and retention and $350,000 in state funding for local worker training and job placement assistance. Seitz was also successful in filling a regional industrial park that was va- cant prior to his arrival. He currently serves on the Penn- sylvania Governor’s Council on Rural Affairs and also served on Governor Corbett’s Transi- tion Team to shape economic development reform. Randy and his wife, along with their two children currently live in Franklin. They plan to relocate to Mercer County. Larry Reichard, current Executive Director of PNDC, and leasing, with a focus on tenant representation, landlord representation, in- vestment property sales and complex real estate projects such as land and property assemblages. In that posi- tion, he represented clients that include Intel, Maxim Crane, General Motors, Gen- eral Electric, York, ACS, Trane, Rollins, Bay Valley Foods, TreeHouse Foods, Inc., Home City Ice Com- pany, Vanity Fair/Bestform, Inspired Technologies, Solar Power, Inc., USA Gourmet and Kensington Windows. Prior to that, he held sev- eral positions with Land- mark Communications Inc., including Property Manager and Vice President/General Manager for the wholly- owned subsidiary, Common- wealth Building Company. There his responsibilities included the management of seventeen corporate-owned properties with over 550,000 s/f from Richmond, Virginia to the Outer Banks of North
announced his plans to retire earlier in the year. “Larry has served PNDC well since the corporation was established 25 years ago,” said Kachulis. “He is well respected for his accomplishments in economic development both regionally and statewide.” Reichard will continue to serve PNDC during a transition period. Seitz began his new role January 1, 2012. In other news, Penn-North- west Development Corporation announced that long time Ex- ecutive Director, Larry Reich- ard, will be officially retiring effective the end of January. “After a national search Reich- ard was selected as the first CEO of Penn-Northwest De- velopment Corporation in 1986 and has served the Corporation andMercer County well during his tenure as the executive di- rector of the Corporation.” said Lew Kachulis recently elected Chairman of the Board. During his 25 year tenure, Reichard successfully led the Corporation in over 420 indus- trial and commercial projects facilitating over $1 billion in new public and private invest- ments in the County which created over 8,000 new jobs and assisted in the retention of thousands of others. ■ Carolina. Tracy’s past expe- rience also includes Cold- well Banker NRT, where he specialized in the sale and leasing of light industrial property in their commercial division. Patrick Tracy is a native of the Washington, DC area and has been living in the greater Pittsburgh for over eighteen years. He brings more than 20 years of client- based service experience to the commercial real estate industry with a focus on land and industrial sale and leas- ing matters. He is a licensed real estate salesperson in the Commonwealth of Penn- sylvania, and is an active volunteer with the American Cancer Society. Tracy holds a Bachelor of Science Degree from James Madison University, with a major in Communication Arts and a minor in Busi- nessAdministration. He also holds a Master in Business Administration studies from Old Dominion University. ■
(PNDC) has hired a new CEO to di- rect Mercer County’s lead economic de- v e l o pme n t agency. R a n d y Seitz is a vet-
Randy Seitz
eran economic development leader, who has led regional economic development orga- nizations in New York, Texas and Pennsylvania, and has most recently been the presi- dent and chief operating of- ficer of the Oil RegionAlliance of Business, Industry and Tourism. With 18 years of experience in economic devel- opment, Randy has a proven track record of success in new industry recruitment, local industry retention/expansion, workforce development and international trade. “Our region and Mercer County has so much going for it,” said Kachulis. “The opportunity to take a leader- ship role in our region and to work closely with the region’s business, government and institutional leaders to ac- PITTSURGH, PA—Colliers International|Pittsburgh announced that Patrick Tracy SIOR has joined the firm as vice president of Industrial Brokerage. His responsibilities include the sale and leasing of industrial real estate as both a tenant and landlord representative. His position as vice president of Industrial Brokerage will encompass all aspects of com- mercial real estate, including but not limited to, office, land and investment sales. “We are very fortunate to have such a seasoned vet- eran join our firm, and it points to the ever growing reputation of our firm and our affiliation with Colliers International,” said Gregg Broujos, managing director and founding principal at Colliers International Pitts- burgh. Tracy previously spent ap- proximately fourteen years with Langholz Wilson Ellis, Inc. as vice president, spe- cializing in brokerage sales
PNC Bank
PITTSBURGH, PA—Marcus & Millichap Real Estate In- vestment Services, announced the sale of PNC Bank, a 6,880 s/f Single-Tenant Net-Leased property located in Pittsburgh, according to Michael L. Glass, vice president/regional manager of the firm’s Columbus office. The asset commanded a sales price of $1,269,197. Dan Yozwiak, John P Ree- hil and Antoine L Matthews, PITTSBURGH, PA — Ad- Venture Development, LLC, a Selma, North Carolina- based Real Estate Develop- ment company announced the openings of a Verizon Wireless Zone and a Studio II Nail Salon. The Studio II Nail Salon opened on Monday, January 9th and the Verizon Wireless Zone opened mid January. These two tenants join SportClips and DiBella’s in the small shop space in front of Lowe’s Home Im- provement. The McCandless Crossing Verizon Wireless Zone will be the fourth Ve- rizon retailer in the North Hills of Pittsburgh, joining locations in Ross, Hampton, and Cranberry Township. A Handel’s Ice Cream and Yogurt shop and IHOP res- taurant, both currently under construction, are expected to open in the spring of 2012. The Verizon Wireless Zone and Studio II Nails Salon join AdVenture Development’s McCandless Crossing project, a 1.2 million s/f +/- mixed use community in the Town of McCandless in the North Hills of Pittsburgh. Plans are underway for a Home2 Suites by Hilton hotel and in additional phases, which include a town center, grocery store, movie theater, medical/ executive offices, along with
CCIM, investment specialists in Marcus &Millichap’s Columbus office, had the exclusive listing to market the property on be- half of the seller, a partnership. The buyer, a partnership, was secured and represented by Paul Fedorko, an investment specialist in Marcus & Millic- hap’s Cleveland office. Spencer Yablon, Broker, assisted in clos- ing this transaction. PNC Bank is located at 206 Rodi Road. ■ a residential/multi-family component. In other news, AdVenture Development, LLC, a an- nounced that construction on McCandless Crossing’s first hotel will begin in March/ April. TheWidewaters Group out of Rochester, New York, has purchased a 3.58 acre piece from along Duncan Ave and will construct Pitts- burgh’s first Home2 Suites by Hilton. This Home2 Suites by Hil- ton is located on the West side of McKnight Road next to LA Fitness, part of the greater 130 acre develop- ment McCandless Crossing. Home2 Suites is Hilton’s newest brand with 8 loca- tions currently open. Home2 Suites by Hilton’s footprint stretches from Maryland and the Carolinas on the east coast, to Texas and Utah out west. Home2 Suites by Hilton is an all-suite, extended stay hotel chain that was been designed for the savvy and thrifty trav- eler. All suites feature a full scale kitchen, complete with a refrigerator, microwave oven, dishwasher and other amenities the traveler would have at home. Home2 Suites by Hilton strives to be the cutting edge in extended stay hotel options. ■
AdVenture Development announces more additions at McCandless Crossing
Colliers International announces Tracy SIOR appointed as VP of Industrial Brokerage
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