Holiday Centre is a fee simple interest of 13.913 acres including 143,200 square feet of retail along William Penn Highway (Route 22) in Monroeville, Pittsburgh, Pennsylvania. The Property includes two buildings- one continuous 137,420 square foot single-story multi-tenant retail building and one 5,780 square foot single-tenant building currently leased to Jared- The Galleria of Jewelry. The Property was originally developed by Pittsburgh developer, Oxford Development Company in 1989. The Property has been well-maintained, under institutional management for most of its history. The long term tenure of the tenants reflects the strength and desirability of this location.
JLL, as exclusive advisor, is pleased to present the opportunity to acquire Holiday Centre (The “Property”), a 143,200 square foot regional retail center located in Monroeville, Pennsylvania within the Pittsburgh MSA. The 92.4% occupied property is anchored by national retailers including PetSmart, Bed Bath & Beyond, and Michaels, all who have been open at this Property for over 15 years. Located within the William Penn Highway retail corridor, the Property benefits from excellent access from several major highways: Interstate-376, which connects Monroeville to Downtown Pittsburgh (approximately 12 miles west), and the Pennsylvania Turnpike (I-76), which spans the entire state and is heavily trafficked. Holiday Centre is conveniently located at the fully-signaled intersection of William Penn Highway (Route 22) and Mall Plaza Boulevard, providing excellent connectivity to the Monroeville Mall and Monroeville Convention Center. An acquisition of Holiday Centre allows investors to take advantage of a core-plus offering, favorable capital markets, and a top-performing retail market nationally.