Cedar Shopping Centers purchased Lake Raystown Shopping Center and Huntingdon Plaza, two adjacent properties in Huntingdon, Pa., totaling approximately 225,139 square feet.
The combined purchase price of $12.7 million includes a parcel of 26 acres on which Cedar plans to build at least a 58,000-square-foot expansion.
A Giant supermarket, a Rite Aid drug store, Peebles, Fashion Bug, Auto Zone and others anchor the centers.
The sellers are affiliates of the H.L. Libby Corp. of Wexford, Pa.
Metro Commercial Real Estate Inc. of Mount Laurel, N.J, brokered the purchase/sale arrangements.
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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