Search
 

American Eagle Closes on Hot Metal Site

PITTSBURGH-The apparel retailer acquires the six-story, 186,000-sf building at 77 Hot Metal Street for $22 million. It will relocate its headquarters beginning in spring 2007.

By Marita Thomas | Updated on June 29, 2006

PITTSBURGH-American Eagle Outfitters has closed on its planned acquisition of the Quantum II building at 77 Hot Metal Street within the SouthSide Works urban redevelopment district. The price for the 186,000-sf office facility was approximately $22 million, or about $118 per sf.

The teen apparel retailer will relocate its headquarters from Warrendale, beginning in spring 2007, following additional construction and interior finishing of the six-story Quantum II building. It will retain the existing Warrendale facility and expand it for use as a data, distribution and logistics center. A call to the retailer was not returned by deadline.

The locally based Soffer Organization developed Quantum II in late 2003 as part of Soffer’s 34-acre master-planned, mixed-use development that includes a 330,000-sf lifestyle shopping center. All are within the 123-acre former LTV Steel site, which the Urban Development Authority of Pittsburgh acquired following the plant’s closing in 1993. The state provided a nearly $2.3-million low-interest loan to American Eagle to acquire the building.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.