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Cedar sells Ephrata Twp parcel once intended for development

by thiryj

CPBJ Reports: Cedar Shopping Centers Inc. has sold a 7.7-acre parcel in Ephrata Township that was slated for retail development to a midstate church.

LCBC, which has locations in Harrisburg, Lancaster and Manheim, settled on the property at 6 Hahnstown Road on Monday, said John Zeswitz, executive director of ministries.

The price was $1.9 million, according to Port Washington, N.Y.-based Cedar’s website.

“I think it’s pretty apparent the economic is what the economy is, and we bought (the parcel) when the economy was stronger than it is today,” said Thomas Richey, president of Cedar’s development and construction division. “We just made an election, as a company, to basically take small parcels like this one and sell them.”

LCBC plans to develop a 30,000- to 35,000-square-foot facility on the property, opening by late fall 2012, Zeswitz said.

“I think as we look at where folks attending LCBC are coming from, we have definitely have seen growth in that corridor,” Zeswitz said.

Nearby Bergstrasse Evangelical Lutheran Church once ran an elementary school on the property.

via Cedar sells Ephrata Twp parcel once intended for development.