Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Big Companies Wanted Lack of Anchor Tenants Reveals a Recruitment Need

Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Big Companies Wanted Lack of Anchor Tenants Reveals a Recruitment Need

Article excerpt

While there has been high demand for office space in and around Downtown, there are few companies big and brawny enough to be anchor tenants in a major project. That has caused a delay in the Pittsburgh Penguins' development of the former Civic Arena site, and now, it has led Oxford Development Co. to abandon plans for a new skyscraper on Smithfield Street. The setbacks highlight a gap in the city's business portfolio- big companies needing lots of elbow room.

The Penguins' project in the Lower Hill District was dealt a blow when U.S. Steel backed out of plans to relocate its headquarters there and become an anchor tenant in the office component of the mixed-use complex.

Since 2012, Oxford Development had been planning to tear down the seven-story onetime home of the Frank & Seder department store at 441 Smithfield St. …

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