Cedar Realty Trust
 | |
| Company type | Public company |
|---|---|
| NYSE: CDR S&P 600 component | |
| Founded | 1984 |
| Headquarters | |
Key people | Bruce J. Schanzer, President Philip R. Mays, CFO |
| Revenue |  $144 million (2019) |
| $1 million (2019) | |
| Total assets | $1.205 billion (2019) |
| Total equity | $514 million (2019) |
Number of employees | 74 (2019) |
| Website | cedarrealtytrust |
| Footnotes / references [1] | |
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.[1]
The company's largest tenants are as follows:[1]
| Rank | Tenant | % of 2019 Revenue |
|---|---|---|
| 1 | Giant Food | 8.4% |
| 2 | Shop Rite | 4.1% |
| 3 | Stop & Shop | 2.6% |
| 4 | Dollar Tree | 2.2% |
| 5 | LA Fitness | 2.0% |
| 6 | Big Y | 1.9% |
| 7 | Home Depot | 1.9% |
| 8 | Staples Inc. | 1.7% |
| 9 | BJ's Wholesale Club | 1.6% |
| 6 | TJX Corporation | 1.5% |
History
The company was founded in 1984 as Cedar Shopping Centers.
In 2005, the company acquired a 27-property portfolio for $90 million[2] and Columbia Mall for $14 million, which it sold in 2013.[3] It also acquired The Shops at Suffolk Downs.[4]
In 2006, the company acquired Shaw's Plaza.[5]
In 2009, RioCan Real Estate Investment Trust acquired a 15% stake in the company as part of a joint venture agreement.[6]
In 2010, the company acquired a 20% interest in Exeter Commons.[7] It also acquired 7 shopping centers from Pennsylvania Real Estate Investment Trust for $168 million.[8] It also sold Gabriel Brothers Plaza for $4.5 million.[9]
In 2011, the company changed its name to Cedar Realty Trust. It also sold 5 sites in Ohio anchored by Discount Drug Mart.[10]
In 2011, Bruce Schanzer became chief executive officer.[11]
In 2014, the company acquired Quartermaster Plaza in South Philadelphia for $92.3 million.[12] It also sold Harbor Square for $25 million.[13]
In 2015, the company acquired Lawndale Plaza in Philadelphia, Pennsylvania for $24.5 million.[14]
In 2016, the company acquired East River Park Shopping Center for $39 million[15] and The Shoppes at Arts District for $20.5 million.[16]
In 2017, the company acquired Christina Crossing for $29.3 million.[17]
References
- ^ a b c "Cedar Realty Trust 2019 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
- ^ "Cedar Shopping Centers buying Pa., Ohio properties". American City Business Journals. February 7, 2005.
- ^ "Cedar Realty Trust 2013 Annual Report" (PDF).
- ^ "Cedar Shopping Centers to acquire 'The Shops at Suffolk Downs'". American City Business Journals. July 14, 2005.
- ^ "Cedar Shopping Centers buys Shaw's Plaza". American City Business Journals. July 24, 2006.
- ^ VALORZI, JOHN (October 26, 2009). "RioCan makes $181-million U.S. foray". The Globe and Mail.
- ^ Kostelni, Natalie (May 12, 2010). "Cedar Shopping Centers, RioCan buying Pa. shopping center". American City Business Journals.
- ^ Kostelni, Natalie (August 16, 2010). "Cedar Shopping buying 7 PREIT centers". American City Business Journals.
- ^ "GABRIEL BROTHERS PLAZA SELLS IN OHIO". RE Business Online. January 4, 2010.
- ^ Ball, Brian R. (May 3, 2011). "Cedar Shopping Centers selling 5 area sites anchored by Discount Drug Marts". American City Business Journals.
- ^ "New Focus at Cedar Realty Trust". Nareit. November 6, 2013.
- ^ Van Allen, Peter (March 26, 2014). "South Philly shopping center sells for $92.3 million". American City Business Journals.
- ^ Kostelni, Natalie (February 28, 2014). "Egg Harbor Twp. center sells for $25M". American City Business Journals.
- ^ "Cedar Realty Trust Acquires Lawndale Plaza In Philadelphia, PA" (Press release). PR Newswire. March 2, 2015.
- ^ "Cedar Realty Trust Acquires East River Park Shopping Center In Washington, D.C." (Press release). PR Newswire. January 4, 2016.
- ^ "Cedar Realty Trust Acquires Shoppes At Arts District In Hyattsville, MD" (Press release). PR Newswire. February 25, 2016.
- ^ Canavan, Kathy (May 1, 2017). "Top real estate deals of this quarter". Delaware Business Times.
External links
- Business data for Cedar Realty Trust, Inc.: