Pine-Richland shoppers take note: The Shoppes at Northway in Ross Township may soon have a new owner.
Akron-based Levey & Co. is nearing final agreement to buy the former Northway Mall and redevelop it, and at least one neighboring property, the Pittsburgh Business Times reports.
Levey & Co.'s LRC Realty Inc. also intends to purchase the former Northway Elementary School on Brown's Lane for $2.46 million. The North Hills School Board approved the sale in June.
Levey and Co. also purchased the site of the former McCrackin Ford dealership at 7209 McKnight Road for $5.2 million in March. According to the Allegheny County real estate website, the 5.2 acres had a value of $2.2 million in 2012.
Levey President Frank Licata confirmed to the Pittsburgh Business Times that his company to working to buy the Shoppes at Northway, but the deal is not yet done.
The Shoppes at Northway went on the market in June after Jefferson-Pilot Investments, acting on behalf of the original mortgage lender, bought back the Shoppes at Northway at an Allegheny County Sheriff's Sale on May 7.
The Shoppes at Northway are currently home to Dicks's Sporting Goods, PetSmart, Marshalls, Aldi's, and a number of other, smaller shops.
It also was home to Borders, which closed in 2011.
The 385,000-square-foot shopping center complex at 8000 McKnight Road, which has been a local landmark since it was built in the 1960s, went on the block in October 2011.
The mall had been in receivership since February and is being managed by Compass Advisory Partners LLC.
The mall is believed to be the first indoor mall in Pennsylvania and among the first indoor malls to open in the United States.What would you like to see happen at the Shoppes at Northway. Tell us in the comments box below.