Urstadt Biddle (UBA) Completes $17M Acquisition of Fairfield, CT, Shopping Center

Urstadt Biddle Properties Inc. (NYSE: UBA)(NYSE: UBP) has completed the purchase of the Fairfield Centre shopping center in the Town of Fairfield, Fairfield County, Connecticut for a purchase price of $17 million, excluding closing costs. The property was purchased free and clear of mortgages. The acquisition was funded with a borrowing on the Company’s unsecured line of credit. The center, located on the Post Road (Route 1) in the Town of Fairfield was built in 1995 and contains 63,300 square feet of leasable space. The shopping center is 100% leased to three tenants; Marshall’s, CVS, and Office Max.

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