Wormleysburg, PA-based Caldwell Development Corp. sells 67,000-sf NewportPlaza and 54,000-sf Halifax Plaza in those respective towns for an aggregate$12.3 million, or $101.65 per sf. A Giant supermarket anchors both centers, and other tenants at both include McDonald's, Rite Aid, and Pennsylvania State Liquor Control Board stores. Both also have a regional bank branch.
Caldwell was represented by Washington, DC-based Cassidy & Pinkard. John Fasciano and Eric Knopping of Conshohocken, PA-based Fameco Real Estate represented Cedar in the transaction. This acquisition is in addition toseven other shopping centers Cedar recently acquired in Pennsylvania.
John Kushner, a senior partner of Fameco, represented Freedman in its purchase of Colonial Commons. Kushner says the majority of the tenants at the center are at the midpoint of long-term leases.
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