1029 W View Park Dr, West View, PA 15229

Dominant Grocery Anchor

The Property is anchored by Giant Eagle, the preeminent grocer in the region. Occupying 60,000 SF, Giant Eagle’s are extremely strong and have increased annually over the last several years. Giant Eagle has been a tenant of the Property since 1981, showing an incredible commitment to the location while continuing their strong performance.

Strong WALT

Driven by anchor Giant Eagle’s term though October-2031, the Property features a remaining weighted average lease term (WALT) of 5.2 years.

Complimentary Tenant Mix

The tenancy mix at West View Plaza is highly complementary with a mix of staples, medical, essential services, recreation, and professional services.

Vacancy Upside

At 91.2% current occupancy, with market occupancy of 96.5%, there is opportunity to increase revenue through vacant lease-up.

Increase Cash Flow through Increases & Market Upside

Current average in-place rents are $10.08/SF, with average market asking rates representing a ~65% premium at $16.55/SF.

Limited Near-Term Roll

Outside of Giant Eagle and Dollar Tree, no other tenant occupies more than 7.7% of the Property, with an average tenant size of 4.0% of the Total GLA. The diversification of tenancy lends itself to limited tenant roll concentration, with no single year having greater than 10.3% roll over the next 5 years.

Supply Constrained Market

At 96.5% occupancy, the submarket has very limited availability, in part due to Pittsburgh’s natural barriers to new development including topography, and mature bedroom communities.

Multiple Points of Ingress/Egress

The Property is accessible via multiple Route including a signalized intersection with pylon signage at Route 19 (Perry Highway), the main north-south artery in the area. Additionally, accessibility is afforded via a 3-way signalized intersection on Centre Avenue.

Strong Demographics

With a 5-mile population of 195,374 and average household incomes of $109,077, West View Plaza has a deep built-in customer base with strong buying power.

Well Located, Parked and Lit

West View Plaza is directly in the center of the West View and Bellevue trade areas, with majority of visitors coming directly from their homes to the Property. West View Plaza is served by 484 parking spaces within a well-lit surface lot providing excellent accessibility at all times of day.

U-Haul Shadow Tenancy

The Property neighbors a regional U-Haul operations and logistics facility, bringing additional customer traffic to the Property.