This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Urstadt Biddle Properties Inc. Announces Acquisition Of The Fairfield Plaza Shopping Center In New Milford, Connecticut

Urstadt Biddle Properties Inc. (NYSE:UBA) (NYSE:UBP) announced that its subsidiary has completed the purchase of Fairfield Plaza Shopping Center in New Milford, Connecticut for a purchase price of $10.84 million, excluding closing costs. In connection with the purchase, the Company assumed a first mortgage in the approximate amount of $5.0 million at an interest rate of 5% per annum. The mortgage matures in 2015. The center, located on Route 7 (Danbury Road) was built in 2003 and contains over 72,000 square feet of leasable space. It is anchored by a 20,400 sf Staples and a 25,300 sf TJ Maxx. The center also contains national and regional retailers such as Edible Arrangements, Olympia Sports, Quiznos, Sherwin Williams and Sleepy’s, which serve the needs of the surrounding community.

Willing Biddle, President of Urstadt Biddle Properties Inc. said, “We are pleased to announce our first acquisition of 2011 and hope to continue the acquisition momentum we created in fiscal 2010 when we acquired interests in four grocery-anchored properties in our core marketplace. Fairfield Plaza is well located on Route 7 in New Milford, CT and has a strong tenant roster including Staples and TJ Maxx. Along with our prior acquisitions of nearby New Milford Plaza and Veteran’s Plaza, the addition of the Fairfield Plaza property gives the Company an additional presence in New Milford, CT with economies of scale that help create a competitive leasing advantage.”

Urstadt Biddle Properties Inc. is a self-administered equity real estate investment trust which owns or has equity interests in 51 properties containing approximately 4.7 million square feet of space. Listed on the New York Stock Exchange since 1969, it provides investors with a means of participating in ownership of income-producing properties. It has paid 166 consecutive quarters of uninterrupted dividends to its shareholders since its inception and raised its dividend to its shareholders for the last 17 consecutive years.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs