Pittsburgh, PA - M & J Wilkow and BIG Shopping Centers is pleased to announce the sale of the Waterfront Technology Center - a vibrant, fully redeveloped office complex located at The Waterfront Shopping Center in Homestead, PA. Originally a Macy's department store, the building has been purchased by one of its current tenants Commonwealth Charter Academy (CCA) - a top-accredited online education platform.
M & J Wilkow and BIG Shopping Centers purchased the 140,000-square-foot building from Macy's in 2018 in an effort to continue expanding the center's mix of retailers and tenants. Following a complete adaptive re-use conversion, the building was leased at full capacity to Siemens Mobility, Inc. and CCA, transforming the space into a state-of-the-art office and R&D facility.
Shannon Construction and Strada Architecture handled all construction and architectural efforts throughout the redevelopment. M & J Wilkow has been retained by CCA to provide property management services moving forward.
"When we purchased the building from Macys, we knew it would be ideal for business tenants," said Martin Sweeney, senior vice president of M & J Wilkow. "The extra-large floor plans and ceiling heights coupled with The Waterfront's existing amenities immediately appealed to Siemens and CCA - it was a perfect fit from the start."
CCA currently occupies the first floor, spanning nearly 70,000 square feet. Siemens Mobility will continue to occupy the remainder of the building on the second floor.
"During the last few years, we've created a complete business ecosystem at The Waterfront," said Thomas Longenecker, President and CEO at CCA. "The centralized location as well as the center's dining and entertainment attractions have helped keep our team energized and productive. This strategic purchase was the natural next step as we continue to expand our operations."
The Waterfront enters 2021 at 94% leased with several new and expanded lease agreements with its Town Center occupants. In addition, a new concept from one of Pittsburgh's top restaurant groups has signed a long-term lease for the former Bar Louie space. More details on these developments will be released soon.