market overview Pittsburgh s South Side has been dubbed the Great American Main Street. Located along the south bank of the Monongahela River to the south of Downtown, South Side features 15 blocks of Victorian Architecture and was named a National Historic District. Boutiques, restaurants, art galleries, theater and live music venues are all within walking distance and is known for its vibrant, urban setting. In more recent years, the South Side has become home to a larger student population (Duquesne University, University of Pittsburgh, and Carnegie Mellon University) that either live in the South Side or spend a portion of their nightlife there. Due to the large number of college students and young professionals, the South Side has developed into a cool, hip nightlife destination for young people in Pittsburgh. The Highline, located at 333 East Carson Street, is Pittsburgh s newest destination. Located in the historic former Terminal Buildings, it is undergoing a massive renovation, creating vibrant workspace with three new office building on an urban campus setting and providing 120,000 s.f. of new retail. The renovation will also feature outdoor river-front green space and adding underground parking for 800 cars. The Highline is expanding its outdoor space by creating a sky-bridge overlooking the city skyline offering commanding views of the river and downtown. The Highline, a redevelopment of the Terminal building. 2 I The Highline The Highline I 3
location WEST The neighborhoods west of downtown are home to the exciting nightlife of theater, music, diverse shops and top restaurants where talented chefs prepare fine Italian, Japanese, Indian, American fusion and Irish cuisine. 4 I The Highline NORTH The neighborhood north of downtown has some of the best views, particularly during fireworks displays. The North is know for it s sports venues - Heinz Field and PNC Park, as well as world-class attractions like the Andy Warhol Museum and the Children s Museum of Pittsburgh. It is connected to Downtown by three identical bridges - the Three Sisters. SOUTH South Pittsburgh is home to a National Historic District with 15 blocks of Victorian architecture. East Carson Street is known as its Great American Main Street. It is a vibrant neighborhood with boutiques, cafes, restaurants, art galleries, theater and live music venues along it s 2.4 mile business district. EAST The east side of Pittsburgh is known for being gritty and authentic. Old buildings are being renovated into apartments and lofts and the streets are lined with restaurants, ethnic grocers, produce stands, sidewalk vendors and meat and fish markets. It s a foodie s paradise. CENTRAL Downtown is the heart of Pittsburghs arts and culture scene. Prime real estate with newly renovated buildings make this Pittsburgh s fastest growing neighborhood. Nearby Oakland is considered the cultural, academic and medical epicenter of Pittsburgh and home to museums, hospitals and renowned universities. Source: www.visitpittsburgh.com Point State Park Lincoln Highway E Carson Street Hotels Retail Light Rail Bus Stop Riverwalk Pedestrian and bicycle path 376 Wabash Tunnel PJ McArdle Roadway Stanwix Street Penn Lincoln Parkway Station Square East Fourth Avenue Third Avenue Blvd of the Allies First Avenue M O N O N G A H E L A R I V E R Monongahela Incline Sixth Avenue Fifth Avenue Transit Tunnel T Line - Light Rail South Busway Line Wood Street Smithfield Street Bridge Smithfield Street Station Square East Proposed 800+ unit residential development Carson Street literally runs the whole gamut of the South Side, from Station Square to South Side Works, and contains shopping and entertainment destinations along the way. Grant Street Ross Street Liberty Bridge S Second St. S. Third St. Terminal St. S Fourth St. E Carson Street 579 PJ McArdle Roadway Arlington Avenue S Sixth St. Bi ngham Street Cabot Way The Highline I 5 S Seventh St.
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demographics 644,500 Total population 293,296 Total # households 499,477 Total # daytime workers 39.5 Median age $67,157 Average household income $12B Total Retail Trade and Food & Drink college towns Median Age: 24.3 Who are we?: Market Profile: rustbelt traditions Median Age: 38.4 Who are we?: Market Profile: comfortable empty nesters Median Age: 46.8 Who are we?: Market Profile: Half of this population are enrolled in college, while the other half work for a college Students have busy schedules, make impulse purchases, dress to impress and are digitally savvy using computers and cell phones for all aspects of life. They are socially active, go to movies and out for drinks A mix of married couple families and singles who are white collar professionals or skilled workers. Family-oriented consumers who value time at home, residents are connected, eat out at family-style restaurants and radios are typically tuned to classic rock stations Baby Boomers who are working professionals making a comfortable living benefitting from years of saving and investing Married couples with children, physically active, maintain their homes, they value their health and financial well-being 5 miles 10 miles 15 miles 2016 Population 394,027 884,932 1,239,117 2016-2021 Annual Rate 0.12% 0.10% 0.14% 2016 Median Age 36.3 41.2 42.3 2016 Average Household Income $63,413 $69,907 $74,901 2016-2021 Annual Rate 1.53% 1.66% 1.73% Total Businesses 19,888 39,919 55,219 Total Employees 359,571 611,304 809,606 5 miles 10 miles midlife constants Median Age: 34.8 Who are we?: Seniors at or approaching retirement with below average labor force participation but above average net worth 15 miles Resource: ESRI 2016, 20 minute drive time Market Profile: Attentive to price but not to the expense of quality, traditional, technically in tune, sociable, church-going and enjoy active lifestyles including golf and fishing 8 I The Highline The Highline I 9
elevation plans Terminal Way East 3rd Street East 4th Street Retail Parking Office Basement / Mechanical The Highline Building is currently undergoing a massive renovation to three office buildings, creating outdoor river-front green space and adding underground parking for 800 cars. Floor plates average +/- 25,000 RSF and are able to suit any work environment and tenant need. 10 I The Highline The Highline I 11
R 12 Q 20 2 2 P DN DN 4 UP UP O N 8 08 3 VAN M 6 8 L 23 K 23 J 18 H 23 G 23 6 F E 28 D C B A floorplans a. power house 15,000 s.f. on two floors b. west BUILDING 25,500 s.f. on two floors c. east BUILDING 25,500 s.f. on two floors d. east carson street 10,000 s.f. on two floors South 3rd Street M o n o n g a h e l a R i v e r Loading (5 10x25 spaces min. required for total office area) Mechanical / Ventilation Storage Fire Command 5 5 5 5 Private Garage Building Engineer Building Loading Private Garage 01 Private Garage 02 Private Garage 03 Private Garage 04 Secure Bicycle Parking 72 Stalls Egress Security Maintenance McKean Street Egress Building Lobby Fire Pump Bicycle Repair + Retail Retail 197 A. b. c. Electrical Transformer Vault Electrical Switchgear/ Meters Retail Outdoor Activity Center Gas Meters South 4th Street Retail Storefronts 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 12 I The Highline A-1.1 Sheet No. Floor Plan - P1 McKean Street Project Number Date Revisions 16-14 08.05.2016 Indovina Associates Architects, L.L.C. 2016 All dimensions and existing conditions shall be checked and verified by Contractor at the site. Any discrepancy shall be reported to the Architect in writing. d. East Carson Street Parking Exit Indovina Associates Architects 3185 Penn Avenue Pittsburgh, PA 15201 p 412.363.3800 f 412.248.4185 Parking Entry The Highline McKnight Realty Partners Terminal Way Pittsburgh, PA 15219 Parking Parking Spaces Total Level Standard Compact Accessible Van Accessible 1 - General 128 43 5 1 177 1 - Private 20 20 0 0 40 Total 169 68 5 1 217 Project Parking Data The Highline I 13
Pittsburgh is fast becoming one of America s most celebrated cities. ABOUT PITTSBURGH Travel + Leisure named it a Best Place to Travel in the World! The Steel City is reforging itself into the Arts City, with former warehouses and industrial spaces transforming into edgy galleries... Zagat named Pittsburgh the No. 1 food city in the United States - thanks to the caliber of new restaurant openings, national media attention and award recognition. TripAdvisor recognized Pittsburgh as a top 10 winner in its Travelers Choice awards for Destinations on the Rise. Pittsburgh has come a long way from its gritty, industrial past. Pittsburgh earned a Best Trip nod from National Geographic Traveler for its extreme metropolitan makeover. Pittsburgh is rated by SmartGrowth America as one of America s safest metropolitan areas for walking. Source: www.visitpittsburgh.com 14 I The Highline The Highline I 15
For more information contact: Jared Imperatore Vice President Jones Lang LaSalle PA License #RS300080 jared.imperatore@am.jll.com Justin Walbert Associate Jones Lang LaSalle justin.walbert@am.jll.com +1 412 208 1400 jllretail.com 2016 Jones Lang LaSalle IP, Inc. All rights reserved. All information contained herein is from sources deemed reliable; however, no representation or warranty is made to the accuracy thereof.