Nov. 4, 2009 (PR Newswire) --

PORT WASHINGTON, N.Y., Nov. 4 /PRNewswire-FirstCall/ -- Cedar Shopping Centers, Inc. (NYSE: CDR) today announced openings this past week of Giant Food Stores supermarkets at two ground-up development shopping centers and the execution, also this past week, of a lease for a new Giant-Eagle supermarket (the first of that Company's stores in Cedar's portfolio).

The new 97,900 square foot Giant Food Stores supermarket at Cedar's Blue Mountain Commons development property on Linglestown Road in northeast Harrisburg, Pennsylvania, opened on October 28th. The store is part of a 125,000 square foot ground-up shopping center development on approximately 22 acres of a 34-acre parcel owned by the Company. Other tenants include a PNC Bank branch completed on a pad site, Sonic, on a pad to be delivered in the near future, Brothers Pizza, Supercuts and Subway. The property also includes a Giant fuel facility on a separate outparcel. The property is more than 90% leased. The Giant lease is for a period of 20 years, with six renewal options of five years each. The Giant store replaces a 62,320 square foot Giant store at the Company's nearby Oakhurst Plaza property where the Company arranged a lease termination payment and where it expects soon to backfill the former Giant premises. The property is included in the previously-reported RioCan (80%) and Cedar (20%) joint venture arrangements for seven properties presently owned by Cedar.

The Company today opened a new 76,415 square foot Giant supermarket at its Crossroads II joint venture shopping center development in Stroudsburg, Pennsylvania, at the intersection of Routes 611, 33 and Interstate 80. Cedar's partner in the joint venture is Tristate Ventures, L.P., an affiliate of Fameco Realty Corporation. The Giant Food Stores supermarket is the anchor of a ground-up shopping center development of approximately 133,775 square feet. Lease negotiations with other in-line tenants are pending. A pad site for construction of a Red Lobster restaurant of approximately 7,000 square feet has been delivered and the restaurant is expected to open in or before the second quarter of 2010. The property also includes a Giant fuel facility on an outparcel. The supermarket lease is for a period of 20 years, with eight five-year renewal options.

The Company also executed a ground lease with Giant Eagle stores for an 83,600 square foot supermarket at the Company's Townfair Center property in Indiana, Pennsylvania. Townfair Center is presently anchored by a 95,000 square foot Lowe's Home Center.