HCG Properties Buys Harrison's Heights Plaza for $8.2 Million
The New York firm said redevelopment of the 30-acre site, mostly vacant after Big Lots and a supermarket closed, will take at least six months.
By Tom Hadley
· 1 min read
HCG Properties, a New York commercial real estate firm, said on November 4 that it had purchased Heights Plaza in Harrison, Pa., for $8.2 million, taking control of the roughly 30-acre retail site and its outparcels, TribLIVE.com reported.
The deal, made through an entity called Heights Plaza Realty LLC, covers the shopping center along with a fast-food restaurant, a medical office, a bank branch and the building that houses the post office and a Social Security office. The sale had not yet appeared on the Allegheny County real estate portal, according to the report.
The seller, Benbrooke Realty Investment Co., also based in New York, confirmed the transaction. Benbrooke paid $8 million for the property in 2022 and at one point listed the four-parcel site for $16 million before withdrawing it. Wild Blue Management bought the plaza for $20.5 million in 2003.
The center, which opened in 1955, has lost anchors including Macy's and Dunham's Sports, and more recently Big Lots and Community Supermarket. Byron Hakimi, chief executive of HCG Properties, said brokers have been hired to market vacant space to local, regional and national tenants, and that visible changes would take at least six months. PetVet365 is set to open at the site on November 10.
Hakimi founded HCG in 2014 after working as a lawyer on commercial real estate deals. The firm operates more than 40 properties nationwide, including three in Pennsylvania.
This story was first reported by TribLIVE.com.
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