Cedar Realty Trust


Cedar Realty Trust, Inc. is a publicly traded real estate investment trust that invests in shopping centers in the Mid-Atlantic states.

Investments

As of December 31, 2019, the company owned 56 properties containing 8.3 million square feet, including 23 properties in Pennsylvania.
The company's largest tenants are as follows:
RankTenant% of 2019 Revenue
1Giant Food8.4%
2Shop Rite4.1%
3Stop & Shop2.6%
4Dollar Tree2.2%
5LA Fitness2.0%
6Big Y1.9%
7Home Depot1.9%
8Staples Inc.1.7%
9BJ's Wholesale Club1.6%
6TJX Corporation1.5%

History

The company was founded in 1984 as Cedar Shopping Centers.
In 2005, the company acquired a 27-property portfolio for $90 million and Columbia Mall for $14 million, which it sold in 2013. It also acquired The Shops at Suffolk Downs.
In 2006, the company acquired Shaw's Plaza.
In 2009, RioCan Real Estate Investment Trust acquired a 15% stake in the company as part of a joint venture agreement.
In 2010, the company acquired a 20% interest in Exeter Commons. It also acquired 7 shopping centers from Pennsylvania Real Estate Investment Trust for $168 million. It also sold Gabriel Brothers Plaza for $4.5 million.
In 2011, the company changed its name to Cedar Realty Trust. It also sold 5 sites in Ohio anchored by Discount Drug Mart.
In 2011, Bruce Schanzer became chief executive officer.
In 2014, the company acquired Quartermaster Plaza in South Philadelphia for $92.3 million. It also sold Harbor Square for $25 million.
In 2015, the company acquired Lawndale Plaza in Philadelphia, Pennsylvania for $24.5 million.
In 2016, the company acquired East River Park Shopping Center for $39 million and The Shoppes at Arts District for $20.5 million.
In 2017, the company acquired Christina Crossing for $29.3 million.