Urstadt Biddle (UBA) Completes Acquisition of Chestnut Ridge Stake for $18.2M
- Top 10 News for 09/28 - 10/2: Nonfarm Numbers Lag in Sept.; Splitsville for Alcoa; Initial Sales of Apple's Latest iPhone Set Record
- September Jobs Report Weaker Than Expected at 142K, Prior Months Revised Down 59K
- Tesla (TSLA) Announces 11,580 Deliveries in Q3; Includes First Model X Units
- Wall Street ends higher in sharp turnaround
- @Jack Back = Twitter (TWTR) Sold - Analyst
Urstadt Biddle Properties Inc. (NYSE: UBA)(NYSE: UBP) has completed the purchase of a fifty percent tenant-in-common interest in the Chestnut Ridge Shopping Center in the town of Montvale, New Jersey and Plaza 59 Shopping Center in Spring Valley, New York for a combined purchase price of $18.2 million, excluding closing costs. The interests in both properties were purchased free and clear of mortgages. The $18.2 million acquisition was funded with proceeds from the Company’s recently completed stock offerings. The Chestnut Ridge Center, located on Chestnut Ridge Road in affluent Montvale, New Jersey in the County of Bergen contains 90,630 square feet of leasable space. The shopping center is 95% leased and is anchored by a 19,205 square foot Fresh Market Supermarket and the centers other tenants include a health club, a Chase Bank and many other successful local tenants. The Spring Valley Center, located on Route 59 in Spring Valley, New York in the County of Rockland contains 25,500 square feet of leasable space. The shopping center is 94% leased to a small market and other local tenants.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Microsoft (MSFT) Acquires Havok from Intel (INTC)
- Apple (AAPL) Buys Speech Tech Start-Up VocallQ - FT
- Condor Hospitality Trust (CDOR) Acquires 3 Branded Hotels for $42.5M
Create E-mail Alert Related CategoriesCorporate News, Mergers and Acquisitions
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!