Monday, February 07, 2005

Pennsylvania business news in brief

AP WireWarner Centre, site of failed downtown revitalization efforts, was sold Monday at the Allegheny County sheriff's sale for $2.7 million to a Washington, D.C., investment company.

Allied Capital will do 'the normal things any developer would do' to attract new tenants, including renovations if necessary, said Alex J. Guggenheim, company vice president.

Allied hadn't spoken with Mayor Tom Murphy's office regarding Warner Centre's role in Murphy's most recent proposal for downtown redevelopment, Guggenheim said.

Perhaps Allied Capital didn't speak to Tom Murphy's office about the investment and the pending plan because it would have been a waste of time? Those who are working with Murphy are on the way out. Those plans that have the Murphy seal of approval are about to end in the trash can.

The center is at the location of the Warner Theatre, which was built as an opera house in 1871 and was later renovated as a movie theater.


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