Port Washington company buys Pa. shopping center

Port Washington-based Cedar Shopping Centers Inc. has completed the $53 million purchase of a shopping center in Pennsylvania, the company said.

Cedar, with its partner in the joint venture, RioCan Real Estate Investment Trust, completed the previously announced purchase of Exeter Commons, a 361,000 square foot shopping center in Exeter Township, Penn. The community is near Reading, about 50 miles west of Philadelphia.

The property, completed in 2009, is anchored by a Lowes Home Improvement Center and a Giant Food Stores supermarket, with leases extending to 2029.  "A" marks the spot for Exeter Township in the map above left.

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