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Cedar Shopping Centers Buying and Selling

TAUNTON, MA-The company is selling Fairfield Plaza in New Milford, CT for $10.8 million and purchasing Northwoods Crossing here for $23.5 million.

By Ryan Clark | Updated on February 08, 2011

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.”

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