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Cedar buys $50 Million Harrisburg Area Shopping Center from Centro

by thiryj

CPBJ Reports:  Cedar Shopping Centers Inc. said today it bought the Colonial Commons shopping center in Lower Paxton Township for $49.1 million from Australia’s Centro Properties Group.

Tenants at the 487,000-square-foot shopping center on Jonestown Road east of Harrisburg include a Giant Food Store, Dick’s Sporting Goods and L.A. Fitness. The property is 93 percent leased, Cedar said.

The deal is a solo venture for Cedar, unlike other recent area acquisitions made as part of a joint venture with RioCan, an investment trust based in Canada.

via Cedar Shopping Centers buys Colonial Commons near Harrisburg.