While the seller has not been disclosed, Loyal Plaza is listed on Columbus-based Glimcher Realty Trust's Web site as one of its assets. Loyal Plaza is anchored by a 67,000-sf Giant supermarket, which is also building an additional 3,000-sf gas station and convenience store. The shopping center also houses an 11,000-sf freestanding Eckerd drug store and a 102,000-sf Kmart. The Kmart is not currently earmarked for closing under the chain's reorganization plan.
If completed, the purchase will put Cedar over the one-million-sf mark in terms of leaseable space in Pennsylvania and New Jersey. Cedar is a REIT administered by Cedar Bay Realty Advisors Inc.
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