Search
 

Urstadt Biddle Acquires Airport Plaza for $7M

DANBURY, CT-Urstadt Biddle Properties, Inc., reports it has completed the purchase of Airport Plaza Shopping Center here for about $7 million. The property sits across the street from the company's Danbury Square Shopping Center property.

By John Jordan | Updated on March 13, 2002

DANBURY, CT-Greenwich-based retail shopping center owner Urstadt Biddle Properties, Inc., has secured a second beachhead in one of the busiest retail hubs in upper Fairfield County with the acquisition of the Airport Plaza Shopping Center here.

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.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.