Pittsburgh's Station Square Changes Hands

A new chapter begins for Pittsburgh's Station Square. WS Development, a real estate company from Massachusetts, now owns this large complex. It has restaurants, entertainment spots, and offices. The company's leader, Jeremy Sclar, is happy about this purchase. He likes the history of Station Square and wants to make it even better. WS Development has many properties all over the United States. They did not share how much they paid for Station Square. This is not surprising, as such details are often kept private in real estate deals. Station Square has had some tough times lately. Last year, lenders asked for $143 million from the previous owner, Brookfield Properties. This was due to a mortgage foreclosure lawsuit. Also, some popular restaurants like Buca di Beppo and Joe’s Crab Shack closed their Station Square locations. The Hard Rock Cafe also shut down earlier this year. These closures show that the complex is not doing as well as it used to. The future of Station Square is uncertain. WS Development plans to bring in new partners and improve the complex. However, they have not shared specific details about their plans. It remains to be seen whether they can turn things around and make Station Square a thriving destination again.