Four Virginia retail centers change hands

Cedar Shopping Centers lands properties in $32.2 million deal
Published on Oct 21, 2005

Cedar Shopping Centers has entered a definitive agreement to purchase four retail properties in Virginia for approximately $32.2 million, the company announced this week.   The properties consist of two Ukrops supermarkets and two ancillary retail strip center properties in suburban Richmond and Fredericksburg, Va.   The properties are being purchased from the owner/developer, the Silver Companies of Fredericksburg, and were fully leased at the time of the announcement.   The properties include:   --A free-standing Ukrops supermarket of approximately 43,000 sq. ft in Glen Allen (Richmond), Va., on an unsubordinated ground lease;   --A Ukrops 63,000-square-foot supermarket on Rte 3 off Rte 95 in Fredericksburg, Virginia;   --Virginia Center Commons, a 10,000-square-foot strip center in Glen Allen (Richmond) Va.;   --Shoppes at Salem Run, a 15,000-square-foot strip center in Fredericksburg, Va.   Closing of the purchase is expected to take place i...

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