Port Washington, N.Y. -- Cedar Shopping Centers said Tuesday it has closed on the acquisition of Colonial Commons in Lower Paxton Township, Pa. The property was purchased for approximately $49.1 million from affiliates of Centro Properties Group.
The 487,000-sq.-ft. shopping center covers approximately 37 acres, is 93% leased and is anchored by Giant Food Stores. Other tenants include Dick's Sporting Goods, L.A. Fitness, Ross Dress For Less, Marshalls, JoAnn Fabrics and David's Furniture.