274
PHILADELPHIA — Pennsylvania Real Estate Investment Trust (PREIT) has closed on its previously announced sale of five power centers to Cedar Shopping Centers for $134.7 million. The properties include Creekview Center in Warrington, Pa.; Monroe Marketplace in Selinsgrove, Pa.; New River Valley Center in Christianburg, Va.; Pitney Road Plaza in Lancaster, Pa.; and Sunrise Plaza in Forked River, N.J. The portfolio totals 936,000 square feet of retail space. PREIT is also under contract to sell its 50 percent interests in Red Rose Commons in Lancaster and Whitehall Mall in Allentown, Pa., but that portion of the transaction has not closed. To read the original story, click here.