Cedar Shopping Centers purchased a 130,000-square-foot community shopping center in Carbondale, Pa.
The value of the transaction was approximately $4.5 million.
The property is anchored by an approximately 52,750-square-foot Weis supermarket, with a lease ending in 2016. Other tenants include a CVS drug store, Blockbuster Video, Pennstar Bank and Burger King.
The center also contains an approximately 50,000-square-foot, vacant, former Ames store, which the company intends to rebuild for certain projected new tenancies.
Conshohocken, Pa.-based Fameco Real Estate brokered the sale of the property and will act as exclusive leasing agent for vacant premises at the center.
Port Washington, N.Y.-based Cedar Shopping Centers Inc. is a fully integrated, self-administered and self-managed real estate company.
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