| Home

Larger text Larger text Smaller text Smaller text | Order Photo Reprints

East Huntingdon shopping center sold

Email Newsletters

Click here to sign up for one of our email newsletters.

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

Daily Photo Galleries

By Sam Spatter
Tuesday, Nov. 6, 2012, 12:01 a.m.

Summit Ridge Shopping Center has a new owner who may be planning an upgrade of the East Huntingdon center to include landscaping and improved lighting.

Also known as Summit Plaza, or Wal-Mart Center, the 224,700-square-foot complex was purchased for $20 million by Slate Properties LLC, based in Toronto, Canada.

The full name of the buyer, according to a news release issued by Slate, is Slate U.S. Opportunity (No. 1) Realty Trust, which indicates that other investors may be involved.

A deed filed in the Westmoreland County Recorder of Deeds office listed the seller as Hauck Holdings Ltd. of Cincinnati.

“Slate is expected to make improvements at the center and in its operation,” said Joe Petak, managing director of asset services for CBRE Inc., a commercial real estate company hired by Slate in Pittsburgh.

Slate had been looking for investment opportunities in Southwest Pennsylvania for the past 18 months, Petak said.

Slate owns the Kennywood Shops in West Mifflin and Field Club Commons, a shopping center in New Castle, Petak said.

The Westmoreland County center is fully occupied, with Wal-Mart as the major anchor tenant.

It has 13 retailers, which occupy about 42,500 square feet of space, while Wal-Mart has a 185,829-square-foot, full-service grocery store, among other offerings, according to Slate.

Other tenants include Fantastic Sam's, Fashion Bug, Bath & Body Works, JoAnne's Hallmark and Aaron's Rentals.

Wal-Mart opened in 1999 at the center, which in 2000 obtained $12.78 million in permanent financing through the former Laureate Capital LLC, now known as Grandbridge Real Estate Capital. The loan was provided by Canada Life Assurance Co.

The Slate trust was established to acquire and lease a portfolio of diversified revenue-producing commercial real estate properties in the United States with a focus on anchored retail properties.

Sam Spatter is a Trib Total Media staff writer. He can be reached at 412-320-7843 or

Subscribe today! Click here for our subscription offers.



Show commenting policy

Most-Read Stories

  1. Bell’s last-second TD lifts Steelers over Chargers
  2. Rossi: Just wait until Ben comes back
  3. Artifical turf OK’d for Armstrong Junior-Senior High School’s new softball and baseball fields
  4. United Way of Armstrong County has new executive director
  5. Ford City Council loses a member
  6. Ford City officials hope grant money will bridge funding gap
  7. Steelers defense displays resiliency in victory over Chargers
  8. Steelers notebook: Receiver Bryant inactive for game vs. Chargers
  9. Ellwood City Area School District avoids strike set for Tuesday
  10. Looking toward home opener, Penguins work to end scoring drought
  11. Penguins notebook: Left wing rotation puts Perron with Malkin