{"id":1004197967,"date":"2017-11-21T09:00:31","date_gmt":"2017-11-21T17:00:31","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004197967"},"modified":"2022-12-09T00:10:08","modified_gmt":"2022-12-09T08:10:08","slug":"tcm-sells-limited-partnership-interest-in-pa-retail-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/tcm-sells-limited-partnership-interest-in-pa-retail-asset\/","title":{"rendered":"TCM Sells Limited Partnership Interest in PA Retail Asset"},"content":{"rendered":"<p>By Adina Marcut<\/p>\n<div id=\"attachment_1004197973\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/Miracle-Mile-Retail-Center.png\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004197973\" data-attachment-id=\"1004197973\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/tcm-sells-limited-partnership-interest-in-pa-retail-asset\/miracle-mile-retail-center\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/Miracle-Mile-Retail-Center.png\" data-orig-size=\"800,605\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Miracle Mile Retail Center\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/Miracle-Mile-Retail-Center.png?w=800\" loading=\"lazy\" class=\"wp-image-1004197973 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/Miracle-Mile-Retail-Center.png\" alt=\"Miracle Mile Retail Center\" width=\"300\" height=\"227\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/Miracle-Mile-Retail-Center.png 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/Miracle-Mile-Retail-Center.png?resize=300,227 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/Miracle-Mile-Retail-Center.png?resize=768,581 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004197973\" class=\"wp-caption-text\">Miracle Mile Retail Center<\/p><\/div>\n<p>Ten Capital Management has sold its limited partnership interest in Miracle Mile Retail Center to a joint venture between M&amp;J Wilkow LTD and ALTO Real Estate. The nearly 300,000-square-foot, Class A retail center is located in Monroeville, Pa.<\/p>\n<p>Located at 4100 William Penn Highway, 13 miles east of the Pittsburgh Central Business District, Miracle Mile Retail Center is a power center anchored by tenants such as LA Fitness, Marshalls, PNC Bank, DSW and Office Max. The property was 94 percent occupied at the time of the purchased and 98 percent leased upon sale. Built in 1954 and then renovated in 2006, Miracle Mile Retail Center offers approximately 1,400 parking spaces.<\/p>\n<p><em>\u201cMiracle Mile is the dominant retail center in the eastern suburbs of Pittsburgh due to its location within the William Penn Highway Retail Corridor,\u201d<\/em> Paul DiSandro, TCM\u2019s portfolio manager, said in prepared remarks. <em>\u201cTenant demand for space was consistently high, resulting in an average occupancy of 98 percent and rent increases averaging over 9 percent for new and existing tenant renewals over our hold period. We successfully achieved our original business plan which included monitoring and maximizing occupancy, lease roll and tenant quality\/health.\u201d<\/em><\/p>\n<p>Last month, M&amp;J Wilkow in partnership with Intercontinental Real Estate Corp., sold a 460,000-square-foot <a href=\"https:\/\/www.commercialsearch.com\/news\/tallest-building-in-sc-gets-new-ownership\/\">Class A office building<\/a> in Columbia, S.C.<\/p>\n<p><em>Image via Google Street View<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Miracle Mile Retail Center is a power center anchored by tenants such as LA Fitness, Marshalls, PNC Bank and others. The property was 98 percent occupied at the time of the sale. <\/p>\n","protected":false},"author":436,"featured_media":1004197973,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21742,10,1602,21749],"tags":[36728,37865,38386],"class_list":["post-1004197967","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-latest","category-northeast","category-pittsburgh","category-retail","tag-alto-real-estate-funds","tag-mj-wilkow","tag-ten-capital-management"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>TCM Sells Limited Partnership Interest in PA Retail Asset - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/tcm-sells-limited-partnership-interest-in-pa-retail-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TCM Sells Limited Partnership Interest in PA Retail Asset\" \/>\n<meta property=\"og:description\" content=\"Miracle Mile Retail Center is a power center anchored by tenants such as LA Fitness, Marshalls, PNC Bank and others. The property was 98 percent occupied at the time of the sale.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/tcm-sells-limited-partnership-interest-in-pa-retail-asset\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-11-21T17:00:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T08:10:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/Miracle-Mile-Retail-Center.png\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"605\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Adina Rogoz\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/tcm-sells-limited-partnership-interest-in-pa-retail-asset\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/tcm-sells-limited-partnership-interest-in-pa-retail-asset\\\/\"},\"author\":{\"name\":\"Adina Rogoz\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/1e376ba4add70694b922380ddbe946d8\"},\"headline\":\"TCM Sells Limited Partnership Interest in PA Retail Asset\",\"datePublished\":\"2017-11-21T17:00:31+00:00\",\"dateModified\":\"2022-12-09T08:10:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/tcm-sells-limited-partnership-interest-in-pa-retail-asset\\\/\"},\"wordCount\":240,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/tcm-sells-limited-partnership-interest-in-pa-retail-asset\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/11\\\/Miracle-Mile-Retail-Center.png\",\"keywords\":[\"ALTO Real Estate Funds\",\"M&amp;J Wilkow\",\"Ten Capital Management\"],\"articleSection\":[\"Deals\",\"News\",\"Northeast\",\"Pittsburgh\",\"Retail\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/tcm-sells-limited-partnership-interest-in-pa-retail-asset\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/tcm-sells-limited-partnership-interest-in-pa-retail-asset\\\/\",\"name\":\"TCM Sells Limited Partnership Interest in PA Retail Asset - 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