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O'Connor Group purchases in PA.

The O'Connor Group, on behalf of a partnership between Shopping Center Associates and a separate account client, has purchased the one-million square foot South Hills Village shopping center in Pittsburgh, Pennsylvania. The New York-based real estate firm will be responsible for leasing, management, marketing and the potential redevelopment of the 26-year-old, two-level regional center which is anchored by Kaufmann's, Hornes and Sears.

The O'Connor Group purchased South Hills Village based on its success as a regional center to date and with the expectation of enhancing its future value by virtue of its prime location and dynamic market. Located southwest of the city, the trade area has a population of over 400,000, with an average household income of $40,500. Most significantly, the market is projected to grow at an annual rate of over 3.4 percent over the next five years.

With the addition of South Hills Village, The O'Connor Group's portfolio now includes over 18,500,000 square feet of retail space, with 14 directly managed regional centers.
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Publication:Real Estate Weekly
Article Type:Brief Article
Date:Jan 15, 1992
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