Columbus Crossing is a 142,200-sf shopping center anchored by a Super Fresh supermarket. Other tenants are Old Navy, AC Moore and Famous Footwear.

River View I, II and III is a combination of three adjacent retail properties with an aggregate of approximately 246,800 sf. It is anchored by a 77,000-sf United Artists theater that seats more than 5,000. Staples, West Marine, Sega Gameworks and Famous Footwear are among the other tenants. Bala Cynwyd, PA-based Michael Salove Co., brokered the transaction.

In addition, Cedar completed lease arrangements that give it operating control of South Philadelphia Shopping Center, a 283,000-sf property. Among the tenants are Shop Rite, Drug Emporium, Bally's Total Fitness and Ross Stores.

The transactions, including closing costs and debt repayment penalties, were funded with proceeds from Cedar's Oct. 24 public offering of more than 13.5 million shares of stock at $11.50 per share. The company, formerly Cedar Income Fund, changed its name on Aug. 13 when it filed to trade on the NYSE as CDR.

In the past year, Cedar has acquired five other shopping centers in the Greater Philadelphia market: Red Lion, Academy Plaza, and Port Richmond Village in Philadelphia County; Swede Square in Montgomery County, and Washington Center in Gloucester County.

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

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
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.

Retail