Penn Center East Signs Three New Major Retail Tenants

FOR IMMEDIATE RELEASE
Pittsburgh, Pennsylvania, United States of America (Free-Press-Release.com) April 25, 2011 -- LG Realty Advisors announces today that their Penn Center East office and retail complex in Wilkins Township, PA has signed leases with three new retail tenants. The new tenants, HHGregg, Tuesday Morning, and Yamato’s Hibachi Grill, complement the current retail tenants on campus. With these three signings, the retail space for the complex is almost fully leased.

HHGregg is one of the nation's leading retailers of home appliances and consumer electronics. Recent sales figures show annual revenues exceed $1.4 billion, they employ over 3,100 employees and are located in 15 states. The space they are going to occupy, beginning in May of this year, has 26,348 square feet and was previously occupied by Comp USA. They are expected to hire 50 employees for this location.

Tuesday Morning, a discount gift and home accessory chain specializing in upscale closeout merchandise, will be moving into 11,780 square feet of space in Penn Center East later this spring or early summer. Fourteen to eighteen new employees are being hired for this store. With more than 790 stores across the United States, Tuesday Morning employs over 10,000 and has annual sales over $800 million. This space was previously occupied by Golf HQ.

The third new tenant is Yamato’s Hibachi Grill, a Japanese restaurant offering authentic cuisine. They are moving into 4,865 square feet of space, formerly occupied by Buffalo Wild Wings, sometime around mid-summer. Yamato’s is owned by local restaurateur Jason Yu, who also owns the Old Town Buffet in Pleasant Hills and is a partner in the Yama Japanese Restaurant in Beaver. Mr. Yu expects to employ 20-40 new employees at this restaurant.

“We are very excited about welcoming our new tenants. All three of these businesses have solid reputations in the marketplace and will be a good fit in Penn Center East. The local business and residential climate of the Wilkins area is inviting for businesses wanting to grow,” said Barry Layton, General Manager of Penn Center East complex. “The Wilkins Township community and the Route 22 business corridor is a vibrant area with a significant amount of new development in progress.”

For additional information regarding these transactions, please contact Brian Gumberg, LG Realty Advisors at (412) 281-9100 or B.Gumberg@lgrealtyadvisors.com.

Penn Center East is a combination of upscale Class A offices and diverse retail businesses located on Route 22 in Wilkins Township, east of downtown Pittsburgh and in close proximity to I-376 and the PA Turnpike. Boasting 680,000 square feet of office space and 310,000 square feet of retail space in seven buildings, Penn Center East attracts a broad spectrum of businesses. The campus includes an array of retail establishments including restaurants, day care, doctor’s offices and professional services, dry cleaning, specialty stores and national retail chains.

LG Realty Advisors is a diversified real estate services company headquartered in Pittsburgh, Pennsylvania. They offer real estate consulting, property management, brokerage, and project management services to investors and end-users of commercial real estate.

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