Red Mountain Group Buys Pittsburgh-Area Shopping Center
This is the company’s first acquisition in western Pennsylvania.
Red Mountain Group Inc. has purchased Century Square, a 415,613-square-foot shopping center in West Mifflin. This marks the company’s first acquisition in western Pennsylvania. A private owner sold the asset, according to CommercialEdge information.
Completed in 1990, Century Square underwent renovations in 2016. The retail center encompasses 16 buildings spread across some 64 acres, CommercialEdge also shows.
Anchored by Lowe’s Home Improvement, Hobby Lobby, Shop’n Save, Dunham’s Sports, Luxury Cinemas and Planet Fitness, Century Square also features a diverse mix of regional and national retailers such as Dollar Tree, Taco Bell, Arby’s, Panda Express, McDonald’s, AT&T, First National Bank and Burlington, among others. The property was 82.7 percent leased at the time of sale.
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Located at 1025-4775 Mountain View Drive, Century Square is some 10 miles from downtown Pittsburgh. The shopping center serves around 192,000 residents within a 5-mile radius, with the average household income of $90,434, according to Red Mountain.
Positive results for Pittsburgh’s retail market
Pittsburgh’s retail market recorded positive results in the last quarter of 2024, according to a recent Colliers report. Developers broke ground on some 116,650 square feet of retail space, significantly more than the 24,688 square feet recorded the previous quarter.
Meanwhile, the vacancy rate remained unchanged over the quarter, at 4.9 percent. In addition, last year’s fourth quarter marked the third consecutive quarter of positive absorption for the market, with the year-to-date total to 282,430 square feet.
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