Updated Aug 27, 2026
Nationwide Provides $73.5 Million Loan For McCandless Crossing Retail Property In Pittsburgh
8878 Covenant Avenue
$73,500,000
$189/SF
Building Size
387,771 SF
Asset Type
Retail
Closing
Aug 26, 2026
About this deal
AI
McCandless Crossing is a 387,771-square-foot retail power center located at 8878 Covenant Avenue in Pittsburgh, PA. The property is currently 99% leased and features anchor tenants such as Lowe’s, T.J. Maxx, Trader Joe’s, HomeGoods, and Sierra Trading. A refinancing loan of $73,500,000 was arranged for this asset.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $73,500,000
- Loan Type: Refinance
- Loan Terms: five-year, fixed-rate
- Lender: Nationwide
- Landlord: AdVenture Champion Partners
- Brokers: Nick Unkovic, Claudia Steeb & Zach Barone - JLL
JLL arranged the refinancing for the property on behalf of owner AdVenture Champion Partners, with Nationwide providing the financing needed for the transaction.
Players
Avenue Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.22%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93