The company, a self-managed REIT, purchased the 33,258-sf shopping center from Tisano Realty of Stamford for approximately $7 million, according to company officials. Airport Plaza Shopping Center is situated across the street from Urstadt Biddle Properties' 194,000-sf Danbury Square Shopping Center and adjacent to the Danbury Fair Mall, which totals approximately one million sf of retail space. Urstadt Biddle Properties does not own the Danbury Fair Mall.

Commenting on the deal, Willing L. Biddle, president and chief operating officer, says, "The acquisition of this retail property continues our strategy of concentrating our real estate investments in Westchester, New York and Fairfield, Connecticut counties. The property, which we will manage directly, is located across the street from the Danbury Fair Mall, Connecticut's largest retail mall."

Airport Plaza Shopping Center is located on Backus Ave., at the intersection of Route 7 and Interstate 84. The property is 100 percent occupied and sits on 2.7 acres of land. Some of the major tenants at the property include: Boston Billiards with 12,540 sf of space, Gateway Computer with 9,800 sf of space and Sleepy's (a mattress store) with 4,950 sf.