Cedars shops in Pennsylvania

Supermarket-anchored properties to be bought for $34.5 million

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Cedar Shopping Centers, a real estate investment trust in Port Washington, N.Y., entered into agreements to purchase two supermarket-anchored shopping centers, Dubois Commons in DuBois, Pa., and Townfair Center in Indiana, Pa. DuBois Commons totals approximately 190,000 square feet, is shadow-anchored by a 116,000-square-foot Lowe's and is itself anchored by a 53,000-square-foot Supervalu Shop 'n Save supermarket and a 54,500-square-foot Elder Beerman department store. Other tenants include Pier 1 Imports, Fashion Bug, Blockbuster, Dollar Tree and Radio Shack. The complex was built in 1999 and expanded in 2003. Townfair Center totals approximately 256,000 square feet and is anchored by a Lowe's home improvement center, a SuperValu Shop 'n Save supermarket and a Michael's craft store. Other tenants include CVS and Pier I Imports. The complex was built in 1997 and expanded in 2001-03. The aggregate purchase price for the two properties, exclusive of closing costs is $34.5 million. Tow...