Greensburg locals, George and Angela O’Brien, closed on 132 South Pennsylvania Avenue Friday, adding to their portfolio of Greensburg properties.
The building consists of retail space on the first floor, which will be the future location of Invisible Man Brewing, and 4 previously renovated apartments on the upper two floors.
The O’Briens initially looked at the opportunity to purchase 132 S. PA Avenue in spring of 2017, but had some concerns about the retail space of the building. The poor condition of the other buildings on the street and the fact that many were not leased, caused apprehension. At the time there there were no known investors looking to invest in that section of Greensburg. Instead they chose to invest in smaller multi-unit investment opportunities in close proximity of downtown and felt that continuing on that route would be a better option for them at that time.
“Our family’s 2019 investment goal is to add commercial spaces to our portfolio,” said George O’Brien, owner. “We reached out to a local commercial realtor and they informed us of the recently signed lease agreement by the prior owner and Invisible Man Brewing Company, which immediately piqued our interest.”
This property is the first they’ve purchased in the last 3 years that hasn’t needed a significant capital improvements. The O’Briens are always looking for opportunities for commercial investments that would be a great fit for the portfolio and for the community. They strive to make sure that their property investments align with their vision of sustainable growth while ensuring the current residents are receiving the absolute best service and experience. They added a handful of residential properties, since relocating here 7 years ago, all which have focused on turning distressed properties in nicer neighborhoods into higher end renovated homes. They felt that was an opportunity not only for them personally but to contribute to our community.
“We appreciate and support a number of Greensburg’s small businesses and see great potential for the city to rejuvenate its downtown area, ” said George. “We understand the challenges and concerns that have prevented this growth but are committed, along with many other fiscally sound businesses and non-profits, like the YMCA, The Westmoreland Museum of American Art, Westmoreland Cultural Trust, StageRight!, restauranteurs and universities, to continue investing in downtown Greensburg.”
George and Angela O’Brien, owners of Progressive Property Investments the company managing the property, moved to Greensburg in 2012, and were immediately taken by its blend of small town charm and big city offerings. A career opportunity with the Greensburg YMCA, which George is the CEO of, has offered them the move across the state and has led to an amazing yet unexpected journey for the family. The O’Brien’s 5 year plan to stay in Greensburg, went by the wayside when they fell in love with the area and the people here. The access to restaurants, parks, museums and entertainment that a larger city offers while remaining affordable, safe, and family-friendly helped them decide to make the investment in downtown.
“We are grateful for the opportunity to raise our family in Greensburg and are excited to help create that experience for others by investing in downtown spaces.,” said Angela O’Brien. “PPI is proud to be a part of our community’s plan to improve the lifestyle of residents and visitors of Greensburg.”
Progressive Property Investments is focused on real estate investment, consultation and property management. They also partner with a number of investment LLCs, which have been formed through interactions with other like-minded individuals that appreciate Greensburg and the opportunity to buy and hold real estate.