This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
TheStreet Open House

Urstadt Biddle Properties Inc. Announces Acquisition Of The Fairfield Centre Shopping Center In The Town Of Fairfield, Fairfield County, Connecticut

Stocks in this article: UBA UBP

Urstadt Biddle Properties Inc. (NYSE: UBA and UBP) announced today that it had completed the purchase of the Fairfield Centre shopping center in the Town of Fairfield, Fairfield County, Connecticut for a purchase price of $17 million, excluding closing costs. The property was purchased free and clear of mortgages. The acquisition was funded with a borrowing on the Company’s unsecured line of credit. The center, located on the Post Road (Route 1) in the Town of Fairfield was built in 1995 and contains 63,300 square feet of leasable space. The shopping center is 100% leased to three tenants; Marshall’s, CVS, and Office Max.

Willing Biddle, President of Urstadt Biddle Properties Inc said, “Our latest acquisition, Fairfield Centre is located on Route 1 in the densely populated and wealthy demographic area of the Town of Fairfield in Fairfield County, CT and has a strong tenant roster consisting of three national retailers, CVS, Marshall’s and OfficeMax. We are pleased to continue the acquisition momentum created in April when we purchased the Fairfield Plaza Shopping Center in New Milford, CT. We are encouraged by other potential acquisition opportunities in our core marketplace and hope the acquisition momentum will continue.”

Urstadt Biddle Properties Inc. is a self-administered equity real estate investment trust which owns or has equity interests in 52 properties containing approximately 4.8 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 167 consecutive quarters of uninterrupted dividends to its shareholders since its inception and raised its dividend to its shareholders for the last 17 consecutive years.

Certain statements contained herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among other things, risks associated with the timing of and costs associated with property improvements, financing commitments and general competitive factors.



1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link 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

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,670.80 -1.80 -0.01%
S&P 500 2,056.52 +4.70 0.23%
NASDAQ 4,771.3710 +13.4920 0.28%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs