PHILADELPHIA, PA–CBRE has brokered the $24.5 million sale of Lawndale Plaza, a 93,282 square foot ShopRite-anchored retail center at the intersection of Oxford Avenue and Levick Street in Philadelphia, PA. Highland Development Group and The Glenville Group sold the property to Cedar Realty Trust.
Brad Nathanson and Tom Gorman of CBRE represented both buyer and seller. Developed in 1998, the 100-percent leased shopping center is anchored by a 63,342 square foot ShopRite, and includes Advance Auto Parts, T-Mobile, and Dunkin' Donuts.
“With the lineup of major national tenants as well as its superior positioning at a high-visibility, busy intersection, this center is attractively situated in the marketplace, especially with the number one grocery operator in Philadelphia,” says Nathanson, executive vice president with CBRE's Greater Philadelphia region. “Lawndale Plaza is a wonderful addition for Cedar Realty Trust to an already strong portfolio of grocery-anchored shopping centers in the city of Philadelphia.”
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