PITTSBURGH, PA. — HFF has secured a $58 million loan for McCandless Crossing, a 385,000-square-foot, mixed-use development in Pittsburgh. HFF worked on behalf of the borrower, AdVenture Champion Partnership, to secure the three-year construction loan through Dollar Bank. Proceeds from the loan were used for construction of the fourth and final phase of the development and to refinance the existing bridge loan secured by Phase I and Phase II. McCandless Crossing is located at the intersection of McKnight Road and Duncan Avenue. Construction began in 2010, and the property is a four-phase development with the existing three phases leased to tenants such as Lowe’s, CVS/Pharmacy, LA Fitness and Fidelity Bank. The fourth phase is 50 percent pre-leased with construction slated for completion this year.
