PITTSBURGH — The mix of shops and restaurants along Walnut Street is poised for another major change.
Banana Republic, the upscale clothing retailer, is set to close its store at 5542 Walnut St. in mid-March. It’s a 15,000-square-foot store built for the retailer 30 years ago. It’s vacating the Shadyside business district as the third retailer of the same company to close along Walnut in the recent past, following the Gap and Athleta. All three retailers are owned by San Francisco-based Gap Inc. (NYSE: GAP).
Gregg Perelman, founding partner and CEO of Walnut Capital, confirmed the closing to come.
“They’re not renewing their lease,” he said.
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