A former Macy’s department store now known as the Waterfront Technology Center has been bought by one of its current tenants.
Commonwealth Charter Academy (CCA), an online education platform, has finalized a deal to purchase the redeveloped office complex from M&J Wilkow and BIG Shopping Centers, which bought the 140,000-square-foot building from Macy’s in 2018. The building is located in The Waterfront shopping complex in Homestead. It was part of an effort to continue expanding the center’s mix of retailers and tenants.
Following a reuse conversion, the building was leased at full capacity to Siemens Mobility and CCA, turning the space into an office and research and development facility. CCA currently occupies the first floor, spanning nearly 70,000 square feet. Seimens Mobility will continue to occupy the remainder of the building on the second floor.
M&J Wilkow has been retained by CCA to provide property management services.
“When we purchased the building from Macy’s, we knew it would be ideal for business tenants,” said Martin Sweeney, senior vice president of M&J Wilkow. “The extra-large floor plans and ceiling heights coupled with The Waterfront’s existing amenities immediately appealed to Siemens and CCA – it was a perfect fit from the start.”
The Waterfront began 2021 at 94% leased. Also, a Pittsburgh restaurant group has signed a long-term lease for the former Bar Louie space.
“During the last few years, we’ve created a complete business ecosystem at The Waterfront,” said Thomas Longenecker, CCA president and CEO. “This strategic purchase was the natural next step as we continue to expand our operations.”
