May 6, 2016
Cedar Realty Trust, headquartered in Port Washington, NY, is now the owner of Glenwood Village, a newly constructed, 64,000-square-foot mixed-use property in Bloomfield, NJ. The REIT obtained the asset for $19.5 million. The property is anchored by a Foodtown Supermarket on the retail level, and with upper-floor apartment units owned by Avalon Bay.
The center, located on Glenwood Avenue, was developed by Metro Real Estate Development Corp. Bill Colgan heads both Metro Real Estate and Glenwood Village’s former owner, Bloomfield Center Urban Renewal LLC.
“We are excited about the acquisition of Glenwood Village, as it represents another acquisition into higher density markets, this time in the New York Metro region,” said Bruce Schanzer, Cedar Realty’s president and CEO.