Penn Hills Shopping Center_Pand te koop
Penn Hills Shopping Center_Pand te koop
230 Rodi Rd, Pittsburgh, PA, 15235-3337, US

Penn Hills Shopping Center

Activa beschrijving

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer Penn Hills Shopping Center (the “Property”), a 273,805 square foot, open air shopping center located in Penn Hills Township, Pittsburgh, PA. The 89% leased Property features strong-performing anchor tenancy in Aldi and Big Lots alongside a highly complementary merchandising mix with contemporary retail uses that include financial services, F&B, medical, telecommunications, service-oriented and more.


Penn Hills Shopping Center ranks as the #1 most visited neighborhood shopping center within a 5-mile radius and is located in a densely populated suburban Pittsburgh submarket with +2.3 million annual visits. The center-of-gravity, open-air shopping center features a tenant lineup in which +63% of gross income is derived from credit & national tenancy with best-in-class pads that are separately parceled, further benefiting from high-performing shadow anchors in Giant Eagle and Planet Fitness.


The Property provides investors a value-add opportunity to lease-up +24,000 SF of remaining in-line retail vacancy to achieve +25.3% NOI growth and a +5.4% CAGR on a 5-year hold alongside the opportunity to spin off separately parceled free-standing pads with excellent roadway visibility and frontage along Rodi Road. The center offers investors a durable income stream ideally located along highly trafficked Rodi Road (+17,300 VPD) and Frankstown Road (+15,700 VPD).

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Attributen

Netto gebouwoppervlakte
14.611 vierkante meter
Bezetting
89%
Bouwjaar
1977
Netto landoppervlakte
14,97 ha

Media

Investeringshoogtepunten

  • Best-in-Class National & Credit Tenant Lineup
  • High-Performing, Destination-Oriented Pad Tenancy
  • Strong Leasing Performance & Momentum Underlining Desirability of the Center
  • Value-Add Opportunity via Lease-Up of Remaining +24,000 SF of First-Floor, In-Line Retail & Spin-Off of Separately Parceled, Free-Standing Pads
  • Center-of-Gravity, Open-Air Shopping Center in Densely Populated, Infill Submarket with High Barriers to Entry
Penn Hills Shopping Center 4_Pand te koop
Penn Hills Shopping Center 4_Pand te koop

Contact makelaars

Penn Hills Shopping Center (0 Eigendommen)
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Laatst bijgewerkt
May 16, 2024