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Cedar Realty Bags Another Grocery-Anchored Asset

WASHINGTON DC 03.23.2017

THE NORTHEAST DC UPDATE

An In-Depth Look at the Drivers of One of DC's Hottest Quadrants

Bruce Baschuk -- J Street Companies
Bryant Foulger -- Foulger-Pratt
Scott Zimmerly -- Wood Partners
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.