WEBSTER, MA-A 102,000-sf retail center serving three states is being purchased by Cedar Shopping Centers. Based in Port Washington, NY, the self-managed REIT will pay $17.7 million for Webster's Price Chopper Plaza upon closing, an event anticipated to occur by the end of the fourth quarter.

Besides the namesake supermarket anchor that encompasses more than 50% of the center's space, credit tenants include Burger King, CVS Pharmacy and Fashion Bug. “This property represents a fine addition to our growing portfolio in southern New England,” Cedar vice president of acquisitions Michael Winters says in announcing the agreement with the seller, an affiliate of Plaza Properties LLC of Worcester.

The deal will give Cedar 14 retail assets and more than two million sf in Connecticut and Massachusetts, mostly grocery-anchored shopping centers similar to the latest conquest. Not counting that investment, the REIT has seven Massachusetts properties. The largest is Franklin Village Plaza in Franklin, which has 289,000 sf anchored by Stop & Shop.