Settlers Ridge

Jones Lang LaSalle Americas, Inc. (JLL”) is pleased to exclusively offer Settlers Ridge (“The Property”), a 473,871 square foot, dominant, grocery-anchored open air shopping center located in the hyperactive retail corridor along I-376 (+40,200 VPD) in Robinson Township, Pittsburgh, PA. The 90.5% leased Property features high-performing anchor tenancy with a flagship Giant Eagle Market District and a 16-screen Cinemark, who rank as the #1 most visited Giant Eagle in the chain and the #1 most visited theater (out of 11 locations) within a 10-mile radius together account for 30% of the Property’s gross income. The Property boasts a highly complementary merchandising mix with contemporary retail uses that include grocery, food & beverage, fitness, telecommunications, entertainment, service-oriented use and more. The Property provides investors a tenant lineup with +5.9 years of weighted average lease term remaining and +15.5 years of weighted average tenure, with 87% of gross income derived from national and credit tenancy.

Settlers Ridge is a dominant, center-of-gravity open-air shopping center strategically located along I-376, one of the most active retail corridors within the Pittsburgh MSA, servicing an extremely densely populated trade area. The center ranks as the #2 most visited shopping center within a 5-mile radius with over 5.3 million visits in the last 12 months. Settlers Ridge has enjoyed significant leasing momentum and tenant retention over the last 36 months, with 10,300 SF of new leases signed and over 205,900 SF of renewals executed. The leasing momentum the Property has experienced over the trailing 36 months, combined with continuous feedback from the leasing community, driven by demand from best-in-class national tenants seeking contemporary retail space, presents a significant opportunity for investors to strategically enhance the merchandising mix and ultimately drive growth.

Strategically positioned within a densely populated and affluent Pittsburgh submarket, Settlers Ridge benefits from exceptional demographic fundamentals with excellent roadway visibility along I-376, (+40,200 VPD) and a population of +103,800 and average household income of +$116,150 within a 5-mile radius.