Tall Timber Group

Home
Tall Timber Group

Home of DevelopingPittsburgh & BreakingGround

31/10/2022

Don't be afraid to talk details about Development and Building in the Pittsburgh area. ⁠
⁠
Keep up to date by subscribing to our newsletter at https://bit.ly/3SV3GT2⁠
⁠
Happy Halloween!⁠
⁠

27/10/2022

How do you take lemons and turn an unfortunate flood into Lemonade? Well, Intervala, a full-service electronics manufacturing services company that provides sophisticated engineering and manufacturing capabilities to global customers in the defense, medical and industrial markets, did just that.

Check out this months Project Profile article in the September/October 2022 issue of Breaking Ground.

You can find the article on page 37.
Click here to view this seasons magazine https://bit.ly/3W3P2us

Make you like and follow us to keep up to date on what is happening in the area!

⁠
⁠

26/10/2022

As a business owner, you’ve worked hard to build your business. But what about the day when you might want to walk away from it all? Business transition planning is perhaps one of the most complex tasks a business owner will encounter. Many owners have a substantial portion of their family wealth invested in the business, a complexity that requires broader financial planning strategies to address retirement and estate planning needs.

If you lack a comprehensive plan to pass on your business, now is the time to give serious thought to a formal business transition plan. A well-crafted transition plan identifies a long-term strategy that can inform short-term decisions.

Click here https://bit.ly/3DnxlOj to continue reading this article by Jennefer Bartholomew, CEPA®, in this falls September/October 2022 Breaking Ground Magazine.

25/10/2022

HARNESSING YOUR EXISTING DATA FOR GREATER INSURANCE SAVINGS

After years of consistent increases in auto liability insurance, businesses have an opportunity to leverage an existing data stream with no upfront costs, and receive immediate, tangible savings.

Interested in knowing more? Read the rest of the article here.https://bit.ly/3DnxlOj

Breaking Ground Magazine
September/October 2022

20/10/2022

Read Jamie White, NAIOP Pittsburgh President, last presidential message before president elect, Brandon Snyder takes his seat.

Jaime shares that he is, "genuinely excited for the future of NAIOP Pittsburgh."

Check out his article here: https://bit.ly/3TrPiRV

⁠ ⁠

19/10/2022

ECONOMIC RECOVERY MEASURES
• Despite the effects of the pandemic still looming, Pittsburgh MSA unemployment figures continued at year-end to trend down near pre- pandemic lows, to 4.2 percent.
• This rate is down from a historic height of 16.6 percent as the pandemic first hit in March 2020, showcasing just how the Pittsburgh market has rebounded in terms of the unemployment rate.
• Total employment in the Pittsburgh MSA, however, is still about 50,000 workers below the 2020 highest level. This deficit should narrow as COVID fears diminish further in 2022.

Read the whole article here: https://bit.ly/3Tk1kgi

Do you work in town? Comment below if you do!

⁠ ⁠

18/10/2022

In the fall of 2022, the effects of the pandemic are still palpable from 9:00-to- 5:00; however, the vibrance of nights in
downtown has returned. Restaurants and bars are full. The Cultural District is selling out again. Streets are full of residents walking dogs and suburbanites taking a night on the town.

Do you love the culture and food that is downtown Pittsburgh? Read on to see the evolving face of life in the city.

https://bit.ly/3eGvxr9

⁠ ⁠

14/10/2022

BREAKING NEWS: This week's report on inflation was not good news for those looking to see a pause in the Fed's rate hiking.

Read this full article and more by subscribing to our email at https://bit.ly/3yEkOnU

13/10/2022

🔎LEGAL PERSPECTIVE🔍️

THE SAME FEDERAL COURT THAT ENFORCED YOUR ARBITRATION CLAUSE MAY LACK JURISDICTION TO ENFORCE THE ARBITRATION AWARD

Parties to commercial transactions, including specifically construction contracts, often elect to resolve disputes through arbitration rather than traditional litigation...

What does this mean for your construction contracts?
Read more here https://bit.ly/3SVzzLi

Breaking Ground Magazine, September/October 2022, Page 44

11/10/2022

AWARDS & CONTRACTS:
What's happening in the Pittsburgh area...

Are you in the know? Check it all out here in the September/October issue of Breaking Ground:
https://www.mbawpa.org/assets/files/past-issues/CP_BreakingGround_SEPTOCT-LowRes.pdf

05/10/2022

Want to know more about what's happening in Westmoreland County?
⁠
The September/October 2022 of Breaking ground is available online at https://www.mbawpa.org/news/breaking-ground-magazine/
⁠
⁠

04/10/2022

Nearly $1.1 billion in construction activity occurred during the fourth quarter of 2021. The higher-than-normal level of contracting was a result of the start of several larger projects and optimism about the return to normal from two pandemic years.

Also at that time, the Fed was still signaling its own optimism about the need for monetary tightening to rein in inflation. Interest rates are now three percentage points higher than in October 2021 and are likely to go another full percentage point higher before the Fed stops hiking in 2023. That has chilled activity, especially in housing and commercial real estate. And, while the demand side of the economy has mostly normalized, concerns about a recession in 2023 have grown and will likely reduce construction spending into the first quarter.

Tall Timber Group forecasts that the slowdown in the fourth quarter will result in contracting for the full year falling roughly $300 million short of the previous year.

Read more about the market in the Sept/Oct at https://bit.ly/3rudcAw

Follow us to keep up-to-date on in the Market.⁠
⁠
⁠

28/09/2022

Looking for Summer reading that keeps you in the know? The September/October issue of BreakingGround is available to read at https://bit.ly/3a6Zj65
⁠
Follow us to keep up-to-date on & in the Market.⁠
⁠

19/09/2022

Did you miss our latest construction market news update last week? 👇

Tuesday's report on consumer prices certainly locked in the 75-basis point hike to the Fed Funds rate that will be announced at next week's Fed Open Markets Committee meeting. The unexpected jump in core inflation puts a full percentage point increase on the table. The course seems to be set for the Fed Funds rate to be at or above 4% by end of 2022. That likelihood is making it harder to do commercial real estate deals. Local mortgage brokers and bankers are in agreement that deal volume has slowed significantly due to the uncertainty about the rate environment. Moreover, projects that are going ahead are being stress tested for rates that are nearly double what they were in January 2022.

The upside for the Pittsburgh region is that demand for certain types of commercial real estate - multi-family and industrial - remains high and projects are going forward in the face of higher construction and capital costs. RDC/Commonwealth Development Partners has begun work on 289 units in Ross Township. Maifly Development has broken ground on 240 units on Hightower Road in Robinson Township. Al. Neyer closed on another parcel in Westmoreland Co. to build a 150,000 square foot spec industrial building and earthwork is underway on Suncap's million-square-foot-plus warehouse in New Stanton.

Follow us to keep up-to-date on & in the Market.

⁠

16/09/2022

Are you adapting to the business cycle?
Check out the Capital Market Update in the Fall edition of , available online at https://bit.ly/3PZNmhH⁠
⁠
⁠ ⁠

05/09/2022

Labor Day pays tribute to the contributions and achievements of American workers and is traditionally observed on the first Monday in September. It was created by the labor movement in the late 19th century and became a federal holiday in 1894.

02/09/2022

Figured out this economy yet? Lots of conflicting information again this week Today's construction spending decline in July was about where it was expected, as was the decline in housing starts and sales announced last week. The combination of higher rates and inflation have slowed construction by between 13% and 20%, depending on the category. Fed Chair Jerome Powell's speech last week reaffirmed the goal of beating inflation back to the 2% range, which means rates should go higher from here through the end of 2022, likely keeping construction from rebounding.

Friday's jobs report for August is expected to show 320,000 new hires. The most recent months' forecasts have been low by a lot so expect that forecast to be high, or not. It is very difficult to get a reading on unemployment because of the accelerated rate of retirements and the strong demand from consumers. The JOLTS survey for July saw a dramatic increase in unfilled positions, jumping to 11.2 million after declining for several months. Likewise, initial unemployment claims fell again last week to 232,000 after climbing to 250,000 during the last week in July. As the job market stays tight, the pressure on employers to meet the demands of workers stays high. Data from BLS and Bianco Research (chart below) shows that the share of office-occupying employees working from home full time has declined dramatically. This trend supports the hybrid work model but makes it no easier to forecast space needs for now.

Follow us to keep up-to-date on & in the Market.

⁠

31/08/2022

Read more of Jeremy Waldrup's comments and why tax credits are so important to developers when changing from office to residential use.

The Fall edition of is available online at https://bit.ly/3PZNmhH
⁠
⁠ ⁠

29/08/2022

Are you curious about the state of the industrial market in the Pittsburgh region? Swipe through for a comprehensive view of 2022 and a look into the crystal ball.⁠

The full article submitted by Louis Oliva, Executive Managing Director, Newmark, can be found beginning on page 39 of the Fall edition of at https://bit.ly/3CAW6Yn⁠

Did you find this information educational and helpful? If so we encourage you to share it to your network.⁠

Follow us to keep up-to-date on in the Market.⁠

NAIOP Pittsburgh Chapman Properties Urban Redevelopment Authority of Pittsburgh Al. Neyer Westmoreland County Industrial Development Corporation

26/08/2022

the reason why 77% of the building stock in Downtown Pittsburgh is commercial office?

Read more about the "Adaptive Re-use: Office to Residential" on page 25 inside the latest edition of 's .
⁠
Follow us to keep up-to-date on in the Market.⁠
⁠
⁠

24/08/2022

Read Brandon Mendoza's full NAIOP Pittsburgh Executive Director Message in the Fall edition of at https://bit.ly/3PZNmhH
⁠
⁠ ⁠

22/08/2022

The latest edition of NAIOP Pittsburgh's is about to be hitting mailboxes. Have you received yours yet?

Follow us to keep up-to-date on in the Market.⁠
⁠
⁠

19/08/2022

Last week came the first indications that inflation may be cooling. The big headlines were around consumer prices, which were unchanged from June to July and "only" up 8.5% year-over-year. The arguably more important future indicator, the producer price index, fell 0.5% in July. The year-over-year producer price for final demand was 9.1%, down 1.8 points from the June rate of inflation for the full year. Inflation at the producer level is passed on to consumers, so the decline should increase for consumer prices later in the third quarter.

The lead/lag relationship for inflation is rarely reported outside the business media. Consumers and downstream business tend to react 3-6 months after prices rise or fall. The producer price index (PPI) for new nonresidential construction is a great example of this. Although producer prices for products (or inputs) going into nonresidential construction fell 1.3% in July, the PPI for new nonresidential buildings jumped 4.1 points to 23.9% year-over-year. Projects surveyed in July reflected pricing and contractor bidding that was rising in response to higher inflation earlier in 2022. If July's overall inflation readings become a trend, prices for nonresidential building will begin to decline in the next few months. Of course, readings on pricing for commodities and services nationally and globally can be skewed by the competitive landscape in the local markets, one more factor in a complicated environment.

Follow us to keep up-to-date on & in the Market.

⁠ ⁠

17/08/2022

Check out the article by Paul Trombitas and Paul Giovannoni on page 52 of the July/August edition of .
Carbon accounting isn’t required on all projects yet, but
there are major incentives for early adopters.

https://bit.ly/3zYXst3
⁠
Follow us to keep up-to-date on & in the Market.⁠
⁠

15/08/2022

Property owners are principally investors, in more ways than one. They invest their money, of course, but also their time, liabilities, lifestyle and even reputation. It seems strange, then, that property owners would be hesitant about the idea of investing in technology. While, on the surface it can be said that a building is just a building, property owners know there’s a heck of a lot more than that going on. Much akin to having a pet, a property has similar needs to a living, breathing organism. Such assets require upkeep and nurturing to ensure they remain at their best, with a cascade of consequences if such responsibilities are neglected. Yet, while this is indeed a timeless notion, the intricacies of property ownership have changed greatly. The very facets of a structure have changed, due to technology, over time, from HVAC and plumbing systems to electrical components, codes, and standards. Rather than try to fruitlessly keep up with these changes in traditional ways that go back to the turn of the last century, property owners today have the potential opportunity to
meet and exceed previous efficiency. Through modern technology, the design, construction, and operational phases of property ownership are poised to change forever, putting adopters on the fasttrack to future success, and relegating the holdouts to the pages of history. (Read more by SHANE ZYSK on page 41 of the Spring Developing Pittsburgh magazine).

https://bit.ly/3SMr856

Address

Website

http://www.talltimbergroup.com/

Alerts

Be the first to know and let us send you an email when Tall Timber Group posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Videos

The following is a snippet from the Publisher taken from the March/April edition of #BreakingGround: "A very interesting thing happened on my way through the research for the feature article in the March/April 2022 edition of BreakingGround on the current state of technology. From nearly everyone I spoke with regarding building information modeling (BIM) came the same message that the technology adoption had stalled. That was unexpected. There’s been a lot written (including in the pages of this magazine) about collaboration and its impact on the industry. It feels like the hype surrounding collaboration has been greater than the substance. It’s foolish to suggest that there is not increased collaboration in the construction industry; however, it is also absurd to suggest that we have entered a golden era of collaboration. Certainly, BIM has not been as much of a catalyst for collaboration as hoped. When I search for a reason why there is not more collaboration among the parties in a construction project, ultimately I land upon the lack of trust as a root cause. I don’t get the sense that architects, owners, and contractors truly believe that their counterparts wish to do them actual harm, but no one wants to have something they say be used against them later. There won’t be widespread adoption of a collaboration tool, like BIM, until there’s widespread collaboration. It will be hard to achieve widespread collaboration without a baseline level of trust. Earning trust isn’t that hard to do. Do what you say you are going to do. Show up on time. Don’t steal from your partners. The problem here seems to be the extension of trust to another party. That too can be simple. The best way to find out if someone is trustworthy is to give them your trust." -Jeff The March/April issue of the magazine is available online at https://bit.ly/3tJXMbS⁠ #talltimber #talltimbergroup #MBAwpa #buildingpittsburgh #ACG #AGC #PittsburghCRE #technology #builders #Featu

BreakingGround is the first comprehensive source of market information for all professionals in the construction and real estate business in Pittsburgh and Western Pennsylvania. Packed with information about market trends, best practices and timely economic data, BreakingGround gives insight about today’s marketplace, and is a ‘must read’ with an extended shelf-life. BreakingGround is published bi-monthly by Tall Timber Group on behalf of the Master Builders’ Association of Western Pennsylvania, which is Pennsylvania’s largest AGC chapter. Tall Timber Group companies have been tracking construction in Pittsburgh, project-by-project, since 1994. Our expertise and experience ensures that BreakingGround provides the professionals in Western PA the news about what will affect their businesses, in time to react. The Pittsburgh Regional Alliance uses BreakingGround to market the region to companies interested in locating in Western PA. Learn more at https://bit.ly/3v1aGUQ #Pittsburgh #CREpgh #talltimber #talltimbergroup #MBAwpa #buildingpittsburgh #ACG #AGC #PittsburghCRE #builders #realestate #realestatenews #commercialrealestate #CRE #construction

Shortcuts

Address
Alerts
Videos
Claim ownership or report listing
Want your business to be the top-listed Media Company?

Country:

City: