The Putnam Plaza has an estimated value of $28.6 million, harboring a 62,000-square-foot Hannaford Brothers Supermarket, along with Rite Aid, NY Sports Club, Radio Shack, Starbucks and Dress Barn. Currently there are two units vacant, totaling 7,000 square feet at a cost of $22 per square foot NNN.
The Village Commons is valued at $8.2 million with asking rents of $30 per square foot NNN for the retail portion, which has 2,500 square feet available. The office portion is 100% leased up.
The properties fall into Urstadt Biddle's plan to acquire dominant grocer-anchored retail property, explains James Aries, SVP/director of acquisition of Urstadt Biddle Properties, to GlobeSt.com.
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