{"id":1004157282,"date":"2016-10-28T03:00:06","date_gmt":"2016-10-28T11:00:06","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004157282"},"modified":"2020-05-18T10:31:51","modified_gmt":"2020-05-18T18:31:51","slug":"urstadt-biddle-buys-stamford-shopping-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/urstadt-biddle-buys-stamford-shopping-center\/","title":{"rendered":"Urstadt Biddle Buys Stamford Shopping Center"},"content":{"rendered":"<p><em>By IvyLee Rosario, Associate Editor <\/em><\/p>\n<p><strong>Greenwich, Conn<\/strong>.\u2014<a href=\"https:\/\/www.ubproperties.com\/\" rel=\"nofollow\" target=\"_blank\">Urstadt Biddle Properties Inc.<\/a> has announced the acquisition of the shopping center located at 970 High Ridge Road in Stamford, Conn. Purchased for $13.3 million, the <a href=\"https:\/\/www.commercialsearch.com\/news\/retail\/\" target=\"_blank\">retail property<\/a> comprises 27,000 square feet of space. The center was 100 percent leased at closing, funded with cash. Tenants include Supercuts, Verizon, Luigi\u2019s restaurant, Mackenzie\u2019s Sports Bar and Pub, as well as a 6,700-square-foot FedEx office.<\/p>\n<div id=\"attachment_1004157284\" style=\"width: 291px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/970-High-Ridge-Road.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004157284\" data-attachment-id=\"1004157284\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/urstadt-biddle-buys-stamford-shopping-center\/970-high-ridge-road\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/970-High-Ridge-Road.jpg\" data-orig-size=\"762,508\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"970 High Ridge Road\" data-image-description=\"&lt;p&gt;970 High Ridge Road&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;970 High Ridge Road in Stamford, Conn. &lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/970-High-Ridge-Road.jpg?w=762\" class=\"wp-image-1004157284\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/970-High-Ridge-Road.jpg\" alt=\"970 High Ridge Road\" width=\"281\" height=\"187\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/970-High-Ridge-Road.jpg 762w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/970-High-Ridge-Road.jpg?resize=300,200 300w\" sizes=\"auto, (max-width: 281px) 100vw, 281px\" \/><\/a><p id=\"caption-attachment-1004157284\" class=\"wp-caption-text\">970 High Ridge Road in Stamford, Conn.<\/p><\/div>\n<p>\u201cWe are pleased to have acquired another shopping center in our core marketplace. The center is well located between the Merritt Parkway and Stamford\u2019s growing and vibrant Central Business District. Stamford has emerged as an important economic hub of Fairfield County and a 24\/7 city, highlighted by impressive apartment growth totaling upwards of 3,600 units built since 2010 with an additional 5,000 units planned,\u201d commented Willing Biddle, president &amp; CEO of Urstadt Biddle Properties.<\/p>\n<p>High Ridge Road is a highly populated location in a main area of the city. Surrounded by major retailers such as Trader Joes, Mrs. Green\u2019s, Acme Market, CVS, Walgreens and Starbucks, this area is seen as one of the most sought after retail destinations in the state, according to Zach Fox, vice president of Acquisitions. \u201cHistorically, this area has had a very low vacancy rate. This will be a strong, low risk investment for UBP for years to come. Owners know we can close quickly and quietly, and this turned out to be one of our smoothest transactions to date.\u201d<\/p>\n<p><em>Image via Google Street View <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company paid $13.3 million to purchase the 27,000-square-foot retail center at 970 High Ridge Road in Stamford, Conn. <\/p>\n","protected":false},"author":746,"featured_media":1004157284,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21742,10,21749],"tags":[],"class_list":["post-1004157282","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-latest","category-northeast","category-retail"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Urstadt Biddle Buys Stamford Shopping Center - 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