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RAYNHAM, MA-In its third Bay State acquisition in three months, Cedar Shopping Plazas has entered into an agreement to purchase Shaw’s Plaza in a $27.3-million. The deal gives the buyer its fourth Massachusetts holding in less than two years.

The 176,000-sf shopping plaza, located at 270 New State Highway/Route 44, is anchored by a 60,000-sf Shaw’s Supermarket with a lease that extends to 2023 and a 25,750-sf Marshall’s department store. It also contains 15,775 sf leased to JoAnn Fabrics along with a 10,125-sf CVS and a 10,000-sf Fashion Bug. The name of the plaza’s current owner was not disclosed.

The acquisition agreement was the third signed by Cedar since October when the Port Washington, NY-based shopping center REIT purchased the Shops at Suffolk Downs, a newly developed plaza located on 25 acres adjacent to the Suffolk Downs Racetrack in Revere, for an undisclosed price. That property, which is anchored b a 75,000-sf Super Stop & Shop and shadow anchored by a 123,000-sf Target store situated on a separate parcel that was not part of the deal. Cedar plans to build an additional 36,000 sf of retail space on the Route 1 site.

Earlier this month, the company purchased Fieldstone Marketplace in New Bedford for $26.2 million. That 194,000-sf community shopping center is anchored by a 68,000-sf Shaw’s. Cedar entered the Massachusetts market about a year ago with the acquisition of the Franklin Village Shopping Center in Franklin, which is also anchored by a Stop & Shop.

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