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He said finding one large anchor tenant or two medium-size tenants to fill such a building is difficult, particularly given that rents for new construction likely would push $40 a square foot, well above the average for Downtown office space. Its not easy to find large tenants for a new building like that and pay the rents you would have to pay for new construction, he said. Mr. Pollock, one of the regions top commercial real estate brokers, said he has talked to retailers who have discussed possible ground level spots with Stark. My opinion is that redevelopment is as vital as anything else to the urban core because its right in the heart of Downtown, Mr. Pollock said. That, in fact, could jumpstart Macys to be more successful. Philadelphia-based Core Realty is converting the former Macys/Kaufmanns building into a retail, office, hotel, and apartment complex. Part of Wednesdays forum focused on retail in the Golden Triangle. John Valentine, executive director of the Pittsburgh Downtown CDC, said the group is working on what it calls the 15-minute project. The goal is to give Downtown residents everything they need retail-related within a 15-minute walk of their homes. Gregg Broujos, managing director and founding principal at Colliers International, said there is still work to do in that regard.
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