Penn Hills Shopping Center

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).