6C — January 30 - February 12, 2015 — Shopping Centers — M id A tlantic
Real Estate Journal
www.marejournal.com
S hopping C enters
Panera Bread and Tuxedo Junction join 1.2 million s/f development in the North Hills AdVenture Development announces two tenants coming to McCandless Crossing in PA
ITTSBURGH, PA — Things are in full swing at McCandless Crossing in the North Hills. AdVenture Development announced that Tuxedo Junc- tion has signed a lease and will be moving into McCandless Crossing. Tuxedo Junction is a tuxedo rental specialty store with locations across the United States and head- quartered in Buffalo, New York. As a trusted retailer for the last 45 years, Tuxedo Junction will complement the roster of tenants in Phase I of the development and will be P
located between Nail Salon II and Geico Insurance in the center across from Lowe’s Home Improvement. Across the street in the Town Center portion of the de- velopment, progress continues to be made. Hats Off Hair and Nail Design, Massage Envy, BJ’s Brewpub, and S&T Bank all have recently signed leases. The next tenant slated to open is Panera Bread, a well- known bakery-café concept anxiously awaited by many in the McCandless community. This will be the first Panera Bread in the Pittsburgh area
with a drive-thru. Panera Bread operates over 1,800 bakery-cafés across the United States and Canada providing customers with a cozy, invit- ing environment and fresh, artisan bread. Anchors, Dick’s Sporting Goods, HomeGoods and Cin- emark, opened earlier in 2014. Panera Bread is set to open January 6, followed by Trader Joe’s opening in February. The Residence at McCandless Crossing has commenced con- struction of its newest phase. McCandless Crossing is a 1.2 million s/f mixed-use de- velopment in the North Hills of Pittsburgh, PA. n EASTPETERSBURG, PA — LMS Commercial Real Estate , a privately owned real estate company based in Lancaster, has recently arranged a 3,000 s/f lease with Mad Chef Craft Brew- ing for premises at Village Commons, 2005 Miller Rd., East Petersburg. The fully occupied, 36,355 s/f Village Commons was recently rede- veloped to include two new retail buildings to capitalize on its excellent location. The landlord was represented by Wilay Boensch of LMS Commercial Real Estate and the tenant was represented by Jim Wentz of High As- sociates . n LMS Commercial reps landlord in 3,000 s/f lease GREENBURGH, NY — Houlihan-Parnes Real- tors, LLC , announced the refinancing of a $3.86 million first mortgage on the 61,459 s/f Greenburgh Shopping Center located at 77-97 Knoll- wood Rd. in Greenburgh. The 5-year, non-recourse loan has a fixed rate of 3.75% with a 30-year amortization sched- ule. The loan, closed with a local Bank, is prepayable throughout the term on a declining scale and the bor- rower has an option to extend the loan for an additional 5 years. The borrower was represented in the transac- tion by Elizabeth Smith of Goldberg Weprin Finkel Goldstein LLP . n Houlihan-Parnes refinances $3.86m first mortgage
McCandless Crossing rendering
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