PhillyInc

Cedar Shopping Centers Inc. plans to develop a $105 million. 700,000 square foot shopping center in Pottsgrove, Pa. through a joint venture, according to a filing with the Securities & Exchange Commission. The Port Washington, New York-based company will provide up to $17.5 million of equity capital for a 60 percent interest in the venture with a preferred rate of return of 9.25 percent. In April, the company acquired five supermarket-anchored shopping centers in Eastern Pennsylvania for $91.9 million. -- Jonathn Berr