PITTSBURGH (KDKA) — Pittsburgh was a hot topic at Recon (the global convention for the shopping center industry) in Las Vegas last week.
CBRE Executive Vice President Herky Pollock says from The Golden Triangle to the four compass points development, the region is hot right now.
Pollock: “They are de-malling it so to speak and have commitments from the Container Store, Nordstrom Rack, and they are deep in negotiations with Off Sax. The future looks very, very promising at Northway.”
As for previous indications Costco will be coming to Northway, Pollock says, “That deal appears to be dead. I think they are revitalizing the back portion of the mall with some residential, and some restaurants and some more retail.”
Pollock: “Phenomenal retail is coming. I’m adding a Burgatory (Pollock is part owner of the chain), Chipotle is coming, BJ’s Restaurant and Brewhouse opens next week. And Old Navy is coming.”
Siena of Upper St. Clair (former Consol Energy site):
Pollock: Whole Foods, which is under construction, will anchor a center.
It will include “tenants like day spas and great national women’s fashion retail who aren’t typically in shopping centers. You’ll see great restaurants who aren’t currently in the South Hills but who want to be in the South Hills.”
Pollock: “Moonbeam, which purchased the mall, has plans to ideally demolish a portion of that mall and make it an outdoor power strip center.”
That would require Macy’s and JCPenney’s to move.
“They are currently working with those tenants to reposition them. That would allow for Ross Dress for Less, and Dick’s, and others to come into the mall in a strip center format instead of a mall format and give Century III a life it hasn’t had in many years,” he said.
Pollock estimates much of this development could be finished and open by late next year, or at least well on the way to completion.