Q2 2012 Pittsburgh, Pennsylvania Retail Property Sales Analysis

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Q2 2012 Pittsburgh, Pennsylvania Retail Property Sales Analysis


Retail property sales, on the other hand, picked up in the second quarter, as two deals saw $42.5 million change hands, the most in a quarter in years. The mean price for the two deals was $98 psf and the mean cap rate was 7.5%. In June, the 253,110-square-foot Township Marketplace in Monaca traded for $31.9 million ($126 psf), and the 178,374-square-foot North Towne Square in Gibsonia traded for $10.6 million ($59 psf). Almost all the other sales over the past four quarters were occupied single-tenant properties, so the rolling 12 month cap rate remains low at 5.7%. It had been below 4.0% the previous three quarters.