Release Date: Friday, January 23rd 2009

City ranked first in real estate niche

Friday, January 23, 2009
By Mark Belko, Pittsburgh Post-Gazette

As if another Super Bowl appearance isn't enough, Pittsburgh has something else to crow about -- the nation's top commercial real estate market, according to one prominent New York rating agency.

Pittsburgh finished ahead of 58 other metropolitan areas, including New York, Boston, Chicago and San Francisco, in Moody's Investors Service's quarterly Red-Yellow-Green report, which measures the health of commercial real estate markets.

Amid a deepening recession and weakening commercial markets nationwide, Pittsburgh posted the highest overall scores in the apartment, full-service hotel and limited-service hotel markets, based on 2008 third-quarter data.

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