Forest City Sells Pittsburgh Mall
The nearly 900,000-square-foot regional mall is part of a larger, 10-property retail portfolio, as the firm continues to shed its shopping center assets.
By Jeff Hamann
The Mall at Robinson in Pittsburgh
Forest City Realty Trust has traded The Mall at Robinson, an 873,000-square-foot retail asset in Pittsburgh, to QIC as part of a nearly $3.2 billion regional mall portfolio transaction. Forest City’s share in the 10-property portfolio is valued at $1.6 billion.
Located at 100 Robinson Centre Drive, the two-story mall, northeast of the intersection of Interstate 376 and U.S. Highway 30, is approximately 10 miles west of downtown Pittsburgh. The property opened in 2001 and is anchored by JCPenney, Macy’s and Sears. The building is near a number of other retail assets, including IKEA and the Robinson Town Centre.
Two of Forest City’s other shopping malls are expected to change hands later this year, as part of the portfolio: the 1.3 million-square-foot Westchester’s Ridge Hill in Yonkers, N.Y. and The Shops at Wiregrass in Tampa, Fla., a 642,000-square-foot open-air shopping center. Four other properties, located in California, Nevada and Virginia, will be sold once Forest City secures replacement assets.
Image via Google Maps
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