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.
On the Map
$73,500,000
$189/SF
Retail
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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