Cedar Realty Trust Acquires Quartermaster Plaza in Philly for $92.3 Million

Philadelphia – The shopping center is 98 percent occupied.

Philadelphia – Cedar Realty Trust Inc. has purchased Quartermaster Plaza, a 456,000-square-foot shopping center in South Philadelphia, from Forest City for $92.3 million. The property, situated on 43 acres and 98 percent occupied, is anchored by a BJ’s Wholesale Club. Built in 2004, the center is adjacent to the South Philadelphia Shopping Center, a 283,000-square-foot development Cedar owns that is anchored by a ShopRite supermarket. These two properties include a combined 739,000 square feet, or 22 percent of the South Philadelphia retail submarket, according to Cedar.

 — Scott Reid