TAUNTON, MA-Cedar Shopping Centers is keeping busy in New England's retail transactions market. The company is divesting the Fairfield Plaza in New Milford, CT to Urstadt Biddle Properties for $10.84 million, while scooping up Northwoods Crossing here for $23.5 million from the Koffler Group.

"The acquisition and disposition…reflect continued execution of our business plan: purchase at accretive prices of core properties with food-based market leaders as our anchor tenants, featuring long leases, excellent credit, high occupancy, and stable cash flows in Atlantic coastal markets with substantial barriers to entry," says Cedar's CEO Leo Ullman in a statement. Ullman also noted that the company "upgrades" its portfolio by "disposing of non-core properties in secondary markets." Cedar's release referred to Fairfield Plaza as a "non-core property."

Northwoods Crossing sits on 47 acres on the 495 with 160,000 square feet of retail anchored by the 115,000-square-foot BJ's Wholesale Club, which has a lease locked down until 2023. Other retailers filling out the facility to 100% occupancy are Wendy's, Quiznos, Dollar Tree and Ruby Tuesday's. The property is already approved for an expansion up to 15,000 square feet. The purchase has a non-recourse financing of around $14.5 million at 6.35% with a 2016 maturity. Koffler Group purchased the property in 2001 and received expansion approval in August of 2010.