Search
 

Cedar Pays $8M for Central PA Shopping Center

EAST NORRITON, PA-A new 37,200-sf L.A. Fitness facility anchors Swede Square Shopping Center at the intersection of Germantown Pike and Swede Road here near State College, PA. The Port Washington, NY-based REIT pays $79.20 per sf for the 101,000-sf property.

By Marita Thomas | Updated on May 13, 2003

EAST NORRITON, PA-Port Washington, NY-based Cedar Income Fund buys Swede Square Shopping Center, a 101,000-sf community mall at the intersection of Germantown Pike and Swede Road for about $79.20 per sf. Among the tenants is a new, 37,200-sf L.A. Fitness facility. A First Union Bank branch and a Pennsylvania Liquor Control Board store are also tenants.

Cedar paid approximately $8 million, including closing costs.

Philadelphia-based RAIT Investment Trust provided acquisition and redevelopment first mortgage financing. Terms and rates were not disclosed.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.