Article: Cedar Shopping Centers Completes $31 Million Purchase of a Supermarket- Anchored Center in New Bedford, MA and a Property in Kent, OH and Terminates Contract to Purchase Bay City, MI Center.

PORT WASHINGTON, N.Y., Dec. 22 /PRNewswire-FirstCall/ -- Cedar Shopping Centers, Inc. today announced that it had completed the purchase of Fieldstone Marketplace and Kent Plaza shopping centers for an aggregate purchase price of approximately $31 million.

Fieldstone Marketplace is a 194,000 sq. ft. community shopping center anchored by a 68,000 sq. ft. Shaw's supermarket. The purchase price was $26.2 million, exclusive of closing costs and adjustments. The purchase was effected by assumption of a first mortgage of approximately $19 million and payment of approximately $7.2 million in cash drawn from the Company's revolving credit facility.

Kent Plaza Shopping Center ...

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