PORT WASHINGTON, N.Y., Feb. 16, 2011 /PRNewswire/ -- Cedar Shopping Centers, Inc. (NYSE: CDR) today announced that it has completed the sale of an approximate 7.7 acre parcel located at the intersection of Routes 222 and 322 near Ephrata, Pennsylvania. The parcel, originally purchased before the downturn for future retail development by the Company, was sold at a small gain to a local church group for approximately $1.9 million.
About Cedar Shopping Centers, Inc.
Cedar Shopping Centers, Inc. is a fully-integrated real estate investment trust which focuses primarily on ownership, operation, development and redevelopment of "bread & butter"® supermarket-anchored shopping centers in coastal mid-Atlantic and New England states. The Company presently owns (both exclusively or in joint venture) and manages approximately 15.9 million square feet of GLA at 133 shopping center properties, of which more than 75% are anchored by supermarkets and/or drugstores with average remaining lease terms of approximately 11 years.
For additional financial and descriptive information on the Company, its operations and its portfolio, please refer to the Company's website at www.cedarshoppingcenters.com.
SOURCE Cedar Shopping Centers, Inc.