Pittsburgh — A joint venture between Washington, D.C.-based Carderock and an unnamed partner has acquired Caste Village, a 221,284-square-foot neighborhood shopping center located in the Whitehall Borough of Pittsburgh. Grocer Giant Eagle anchors the property, which features a mix of additional tenants such as Banfield Pet Hospital, St. Clair Health, Fitness 19 and Princess Lanes Bowling Center.
Carderock plans to renovate the shopping center with major upgrades including a revitalized Caste Commons gathering area, façade and systems improvements and re-tenanting spaces including a former Shell gas station and a recently vacated Rite Aid. Adam Bieber of BWE arranged financing for the acquisition, while Oxford Realty Services will oversee leasing and management.
Originally developed and owned by the Caste family for more than 75 years, this transaction marks the first time Caste Village has ever been sold.