Cedar Realty Bags Another Grocery-Anchored Asset
Cedar Realty Trust has acquired the 90k SF Lawndale Plaza in northeast Philadelphia for $24.5M from investors Peter Abrams and Fred Levin and equity partner Glenville Group. The center is anchored by a market-dominant, high-volume ShopRite. At Bisnow's Philadelphia Retail Real Estate Summit last week, Cedar Realty Trust COO Nancy Mozzachio alluded to the fact that her company was about to close on another asset in Philly. She explained that Cedar Realty specializes in supermarket-anchored shopping centers, with about 1.5M SF in Philadelphia.