Moon Developer Plans New Office Building Construction

A Moon Township-based developer plans to build a five-story, 130,000-square-foot office building off the Montour Run interchange of the Parkway West.

DiCicco Development Inc. announced this week that is starting the building, Westpointe Corporate Center Four without a tenant in hand—but is confident that the risk is worth it, the Pittsburgh Post Gazette reports.

"It's just that the market is extremely tight. When you do a search for space in the Parkway West, there's one building with 70,000 square feet, there's one with 60,000 and there's nothing else," Jeremy Kronman, CBRE executive vice president marketing the space told the P-G.

Overall, the Post Gazette reports the office vacancy rate in the corridor dropped from 18 percent at the end of 2011 to 14.3 percent at the end of last year. Kronman told the newspaper that vacancy rates now are now hovering in the 5 percent range, particularly for top-quality Class A space.

DiCicco has started site work and ordered steel for the building, which the Post Gazette says will be built in Moon next to a Hilton Homewood Suites that DiCicco is also constructing with Concord Hospitality.

DiCicco also built Westpointe Corporate Center One, which was leased to Nova Chemicals, and Parkwest Corporate Center, which was leased to Lanxess Corp. for its U.S. headquarters. 

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