Three Lease Deals Signed at The Waterfront

PITTSBURGH, PA-Three new lease deals totaling nearly 32,000 square feet were reported by the ownership of The Waterfront complex here.

BIG Shopping Centers USA (BIG USA), M&J Wilkow, Ltd. and leasing agent CBRE announced that Crunch Fitness, an upscale fitness club with locations in New York City, San Francisco, Los Angeles and Miami, had signed a 20,000-square-foot lease at the 1.4-million square foot retail, dining and entertainment destination.

Also inking deals at the property that is in the preliminary phase of a revitalization, are the restaurant Burgatory, which leased 5,000 square feet, and accessories retailer Charming Charlie that will take 6,500 square feet.

The Waterfront will shortly announce another phase with seven new tenants totaling more than 57,000 square feet, for a total of 10 new tenants and approximately 90,000 square feet, according to a press announcement.

In addition, the ownership of The Waterfront states it is purchasing the former Fuddruckers building along Waterfront Drive overlooking the river in order to clear the way for another phase of future growth.

The next phases will include: substantial remodeling of the common areas and aesthetics of The Waterfront; additional retail and restaurants; new entertainment features and amenities; enhanced parking; new signage; and new branding, marketing and special events.

“When we purchased The Waterfront, we had high expectations for future success, states Stanley L. McElroy, Jr., president, BIG Shopping Centers USA. “We are meeting our expectations and as a result we are embarking on future phases now. The market has spoken and we could not be happier with our entry into Pittsburgh and the way in which our plans are unfolding at this stellar asset. We promised to create memorable experiences and we are well on our way.”