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Cedar Shopping Centers to purchase shopping center in New Jersey for $26.5 million

from PR Newswire

Cedar Shopping Centers, Inc. announced that it has entered into a definitive purchase contract to purchase the Cross Keys Place shopping center in Sewell, N.J., on behalf of the joint venture between Cedar (20 percent) and RioCan Real Estate Investment Trust of Toronto (80 percent) for approximately $26.5 million, exclusive of closing costs and adjustments. Cross Keys Place, completed in 2007, is a 148,000 square foot retail strip shopping center, 100 percent leased, and anchored by a 42,000-square-foot Sports Authority, a 35,000-square-foot Bed, Bath & Beyond, a 21,000-square-foot AC Moore, a 19,000-square-foot Old Navy and a 16,000-square-foot Petco. more

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