Frazer retail center sold to Bryn Mawr company
The Village at Pittsburgh Mills in Frazer has been sold to a Bryn Mawr company, according to Allegheny County deed and property assessment records.
VPM Associates purchased the 7-acre parcel that includes buildings on both sides of Pittsburgh Mills Boulevard for $32.28 million in June from Pitt Village LP, which is a joint venture between George D. Zamias and James Brumbaugh, a private investor from Fox Chapel.
Joseph Anthony, president and CEO of Zamias Associates, referred to the sale as “a group of investors has purchased a majority interest in Pitt Village.”
Zamias remains a partner and is handling the leasing and management, Anthony said.
No one from VPM Associates could be reached for comment.
David Goldstein, president of VPM, Inc./VPM Associates, LLC signed the deed. The company shares an office with WP Realty in Bryn Mawr. No one at that office returned calls seeking comment.
VPM is identified as a Delaware limited liability company. Delaware records show that VPM Associates, LLC was incorporated there on April 16.
Frazer and the Deer Lakes School District each stand to receive about $161,000 in realty transfer tax revenue, according to the deed records.
Anthony said he doesn't expect any changes by the new owner because the Village at Pittsburgh Mills is fully leased and its tenants are making good sales.
The shops include retailers such as Best Buy, PetSmart, Dollar Tree, Michaels, Sonic Drive-In, Famous Footwear and Office Max.
The plaza opened in 2007.
Zamias Services Inc. of Johnstown put it up for sale in 2012 for $32.9 million.
Although Zamias was the original developer of the Pittsburgh Mills shopping complex, it later included the Mills Corp. of Arlington, Va., as a major venture partner. Zamias kept 25 percent of the development.
Later, when Mills Corp. got into financial trouble, it sold its share to Zamias, who is the current owner of the Pittsburgh Mills mall.
Jodi Weigand is a staff writer for Trib Total Media. She can be reached at 724-226-4702 or email@example.com. Staff write Sam Spatter contributed.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Winfield man is one of a few to attend all 49 Super Bowl games
- Army Corps of Engineers asks for more input on Parks Township nuclear dump plans
- Springdale puts limits on adult businesses
- Burrell students embark on educational adventure
- Plum’s 1st property tax hike since 2006 could reach 6.2%
- Plum School Board OKs teachers contract
- Penn State New Ken celebrates ‘Unity Day’
- Arnold woman severely injured in Allegheny Township wreck
- Woman killed in Washington Township crash
- Second teen charged in Jan. 1 Tarentum shooting
- Radioactive radon permeates Western Pennsylvania homes