Cedar Shopping Centers Inc. this week announced it has purchased Gold Star Plaza Shopping Center in Shenandoah, Pa.
The value of the transaction was approximately $7.9 million.
Gold Star Plaza is a 72,000-square-foot property anchored by a 47,000-square-foot Redner’s supermarket. The property is located on 20 acres, permitting expansion of up to 24,000 square feet. The purchase also includes two additional pad sites for future development. Other tenants include Family Dollar, Advance Auto and a Pennsylvania Liquor Control Board liquor store.
Kingston, Pa.-based Mark Development Co. sold the property.
Cedar Shopping Centers Inc. is a self-managed real estate investment trust focused on supermarket-anchored shopping centers and drug store-anchored convenience centers in the Northeast and Mid-Atlantic regions.