Giant Eagle-Anchored Shopping
16 Federal Dr Pittsburgh, PA 15235
16 Federal Dr, Pittsburgh, PA, 15235
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For Sale
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Pending
Street-front retail center anchored by Giant Eagle, with Planet Fitness, Goodwill, and an office furniture showroom tenant.
Days on Market101
Property Features for 16 Federal Dr
General Information
- Standard status
- Pending
- Property subtype
- Retail
Listing agency
Marcus & Millichap - Columbus
Listed by
John Reehil · License #OH SAL.2005007737
Source
Crexi
Added: Apr 13 Updated: Jul 22 at 7:54AM Checked: Jul 22 at 7:54AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap - Columbus
Investment Insights
Based on property information with market context.
The Giant Eagle Center is a retail shopping center anchored by Giant Eagle, which has operated at the property since 1977. The center is also home to a newly opened Goodwill Center, a Planet Fitness franchise, and The Office Furniture Warehouse. Of the center’s tenants, three are encumbered by NNN leases. Goodwill is on a gross lease for its first five years, transitioning to a net lease for the next five years, along with options. Giant Eagle is described as having consistently generated sales in excess of $575 per square foot and includes typical percentage rent payments to the landlord of over $103,000 annually, with its fifth option period running through February of 2023. Planet Fitness has been in place since 2014, with rent increases in November 2020 to $176,000 per year.
The Office Furniture Warehouse occupies a unique space designed to accommodate furniture showrooms, office suites, and storage for furniture that will be assembled. The center is adjacent to the Penn Hills Center, which is described as including more than 277,000 square feet of retail, restaurant, and service tenants, including Aldi, Big Lots, Dollar Tree, and USPS.
The Office Furniture Warehouse occupies a unique space designed to accommodate furniture showrooms, office suites, and storage for furniture that will be assembled. The center is adjacent to the Penn Hills Center, which is described as including more than 277,000 square feet of retail, restaurant, and service tenants, including Aldi, Big Lots, Dollar Tree, and USPS.
Key Highlights
- Street‑front retail center anchored by Giant Eagle, located at 16 Federal Drive in Penn Hills, PA (about 10 miles east of downtown Pittsburgh)
- Tenant lineup includes Planet Fitness and a brand‑new Goodwill Center, plus The Office Furniture Warehouse
- Three tenants are on NNN leases; Goodwill is gross for its first 5 years, then net for the next 5 years with options
Property Analytics
Location Intelligence
Current Use by Public Records
ALDI
Specialty Food Shop
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FAQs
What type of property is this?
Shopping center - Street-front retail center anchored by Giant Eagle, with Planet Fitness, Goodwill, and an office furniture showroom tenant.
Where is this shopping center located?
The property is located at 16 Federal Dr Pittsburgh, PA.
What are key features of this property?
This property features: Street‑front retail center anchored by Giant Eagle, located at 16 Federal Drive in Penn Hills, PA (about 10 miles east of downtown Pittsburgh); Tenant lineup includes Planet Fitness and a brand‑new Goodwill Center, plus The Office Furniture Warehouse; Three tenants are on NNN leases; Goodwill is gross for its first 5 years, then net for the next 5 years with options
