Inland Adds 750,000 SF of Waterfront Retail

HOMESTEAD, PA-Continental Real Estate Cos. of Columbus, OH has sold 750,000 sf of riverfront retail space here to Oak Brook, IL-based Inland Retail Real Estate Trust for $123.5 million.

The properties make up the Waterfront, an award-winning development in the Pittsburgh area along the Monongahela River. Situated on a 256-acre former steel works site, it is one of the largest urban redevelopment sites in the country. The entire development includes more than 500,000 sf of national retailers and themed restaurants and more than 700,000 sf of big-box retailers.

Retail tenants in the space acquired by Inland Space include: Best Buy; Dick’s Sporting Goods; Bed, Bath & Beyond; TJ Maxx; Barnes & Noble; Michaels; Petco; Office Depot; Victoria’s Secret; Old Navy; Pier 1 Imports; KB Toys; Abercrombie & Fitch; and Marshall’s. Restaurant and entertainment tenants in Inland’s new portfolio include: Loews Waterfront Theatres; Dave and Buster’s restaurant; The Improv; Bar Louie Waterfront; Starbucks; Panera Bread; P.F. Chang’s China Bistro; and Mitchell’s Fish Company. Anchor Waterfront tenants not part of the acquisition include: Kaufmann’s; Lowe’s Home Improvement; Giant Eagle Foods; and Target.