Jessica Bair covers retail, tourism, small business and York and Lebanon counties. She has been with the Central Penn Business Journal since 2006. 
Cedar Shopping Centers Inc. said on Tuesday it has entered a joint-venture agreement to purchase a shopping center in Berks County for $53 million.
The 361,000-square-foot Exeter Commons occupies 37 acres in Exeter Township. Construction was completed in 2009.
The 361,000-square-foot Exeter Commons occupies 37 acres in Exeter Township. Construction was completed in 2009.
The agreement is a joint venture between Cedar and RioCan Real Estate Investment Trust, a Canadian firm. The deal, which is expected to close by Aug. 1, involves New York-based Cedar as the manager of the property.
The property’s anchors are a 171,000-square-foot Lowe’s Home Improvement Center and an 82,000-square-foot Giant Food Stores supermarket. Other tenants include Staples, Petco, Target and Famous Footwear.
Cedar owns about 20 shopping centers in the midstate and operates an office in Cumberland County.
