Urstadt Biddle acquires 63,000 s/f Connecticut shopping center for $16.967 million

Urstadt Biddle properties Inc. has acquired the 63,000 s/f Fairfield Centre on Post Rd. (Rte. 1). The property is 100% leased to Marshalls, CVS and Office Max. Willing Biddle, president of Urstadt Biddle Properties said, "We are pleased to have completed this acquisition in a very competitive market in our core marketplace." The purchase price was $16.967 million and the seller was a Boston-based private investor who was represented by Ernest Barrueta of Boston Commercial Investments. James Aries, SVP/director of Acquisitions said, "We view this investment as an opportunity to acquire a desirable retail property with an established leasing history in our immediate market area with considerable market upside."