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Cumberland County shopping centers sold as part of $104M deal

by thiryj

Cumberland County shopping centers sold as part of $104M deal

By Jason Scott

Seven shopping centers, including three in Cumberland County, have been acquired by affiliates of New York-based Vastgood Properties LLC and an affiliate of a fund managed by New Jersey-based Prudential Real Estate Investors.

The supermarket-anchored shopping centers were acquired for $104 million from affiliates of Cedar Realty Trust Inc. and Homburg Holdings Inc., according to Vastgood.

Six of the centers are anchored by Giant Food Stores, which is based in Middlesex Township, and one by a Nell’s Supermarket.

The joint venture purchased the Parkway Plaza in Upper Allen Township, Pennsboro Commons in East Pennsboro Township and the Stonehedge Square in South Middleton Township.

The other shopping centers are in Berks, Columbia, Delaware and Fulton counties.

Affiliates of Vastgood Properties, a private real estate ownership and management company owned by Leo Ullman, founder and former chairman and CEO of Cedar Realty Trust, will manage the properties.

Courtesy of the Central Penn Business Journal. Read the full article here:

Cumberland County shopping centers sold as part of $104M deal | Central Penn Business Journal.

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