Back to the Corporate Site
Corporate Logo

Press Release

Mobile Investor Home Email page
PDF view Print view Email Alert Social media sharing
  • ABOUT US
    • Company Overview
    • Senior Management
    • Board of Directors
  • PORTFOLIO
  • ACQUISITIONS
    • Criteria
    • Tax Advantages
  • NEWS
  • CONTACT
INVESTOR RELATIONS

Investor

NYSE: UBA

  • Corporate Profile
    • Corporate Overview
    • Officers & Directors
    • Governance Documents
  • Stock Information
    • Stock Quote
    • Historic Prices
    • Dividends
    • Peer Analysis
    • Market Specialist
    • Covering Analysts
    • Dividend Reinvestment Plan
  • Financial Reporting
    • Annual Reports
    • SEC Filings
    • IRC Sec. 6045B Reporting
  • Financial Highlights
    • As Reported Financial Statements
  • News & Events
    • Press Releases
    • Event Calendar
    • Presentations
  • Shareholder Meeting Documents
  • Portfolio
    • Properties
    • Top Tenants
  • Additional Information
    • Email Notification
    • Information Request
    • FAQs

Press Release

Urstadt Biddle Properties Inc. Announces Acquisition of Lakeview Plaza Shopping Center Located in the Town of Southeast, NY

Company Release - 12/3/2018 5:38 PM ET

GREENWICH, Conn.--(BUSINESS WIRE)-- Urstadt Biddle Properties Inc. (NYSE:UBA and UBP) announced today that it has acquired, for $12 million, Lakeview Plaza Shopping Center, located in the Town of Southeast in Putnam County, NY (“Lakeview”). Lakeview is a 177,000 square foot shopping center anchored by a 54,000 square foot Acme Supermarket. The property consists of five buildings on a 23 acre site located on Route 22, just north of the intersections of Interstates 684 & 84. The location benefits greatly from the traffic traveling north and south on Route 22, which has an average daily traffic count of 30,500. Lakeview is currently 73% leased to a diverse mixture of local, regional and national tenants including Acme Supermarket, Rite-Aid, JPMorgan Chase, Supercuts, Subway, M&T Bank, KeyBank and Burger King. The property was built between 1972 and 1981, and renovated in 1999. Parking is excellent with 908 spaces (5.13 cars / 1,000 square feet) serving the shopping center, and access to the property is also excellent, with two signalized points of ingress/egress along Route 22. The Town of Southeast has two Metro-North train stations with regular service to New York City’s Grand Central Station taking approximately 75 minutes. The population of the Town of Southeast is approximately 18,400, and other commercial development in Southeast is mainly situated on Route 22 within close proximity to the property. The nearest enclosed mall is the Danbury Fair Mall, located in Danbury, Connecticut, roughly 20 minutes from Lakeview.

Willing Biddle, President of Urstadt Biddle Properties Inc. said, “We are pleased to have acquired another grocery-anchored shopping center located in our core marketplace. Lakeview Plaza is strategically located on Route 22 near the confluence of I-684 and I-84. We were able to acquire this property at a deep discount to replacement value from a lender who had foreclosed its loan on the property, and we look forward to using our talents to renovate and restore the property to the high-quality center it once was. We have approximately 20,000 square feet of retail space and 20,000 square feet of office space immediately available for lease. All interested parties or their representatives should contact Jeremy Schwartz, Senior Leasing Representative at 203-863-8271 or jschwartz@ubproperties.com.”

James Aries, Senior Vice President of Acquisitions, added, “The acquisition of Lakeview Plaza, anchored by the dominant grocer in Southeast, is consistent with our strategy to acquire only trade-area leading grocers. We know this property very well as it is located within ten miles of other UBP-owned shopping centers in Carmel and Somers, NY and in Danbury, CT. This will give us great economies of scale as we look to revitalize the center.”

Urstadt Biddle Properties Inc. is a self-administered equity real estate investment trust which owns or has equity interests in 85 properties containing approximately 5.3 million square feet of space. Listed on the New York Stock Exchange since 1970, it provides investors with a means of participating in ownership of income-producing properties. It has paid 195 consecutive quarters of uninterrupted dividends to its shareholders since its inception and has raised total dividends to its shareholders for the last 25 consecutive years.

Certain statements contained herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among other things, risks associated with the timing of and costs associated with property improvements, financing commitments and general competitive factors.

View source version on businesswire.com: https://www.businesswire.com/news/home/20181203006014/en/

Willing L. Biddle, CEO or
John T. Hayes, CFO or
James Aries, SVP, Acquisitions or
Zach Fox, VP, Acquisitions
Urstadt Biddle Properties Inc.
(203) 863-8200

Source: Urstadt Biddle Properties Inc.

Copyright 2019, © S&P Global Market Intelligence  Terms of Use

TERMS AND CONDITIONS OF USE

PDF View Print View

The investor relations site ("Site") with which this document is associated is maintained by S&P Global Market Intelligence ("S&P") on behalf of the organization featured on the Site (S&P's "Client"). These Terms and Conditions of Use ("Terms of Use") set forth the terms on which you may use the Site, and the information and materials contained therein (the "Contents"). By using the Site, you agree to these Terms of Use. If you do not agree to these Terms of Use, you are not authorized to use the Site or Contents in any manner, and you should immediately discontinue any use of the Site or the Contents.

S&P and/or its Client shall have the right at any time to modify or discontinue any aspect of the Site or any part of the Contents. S&P may also modify these Terms of Use without notice. You agree to monitor these Terms of Use, and to cease all access or use of the Site if you no longer agree to abide by the Terms of Use. Your continued use of the Site shall constitute acceptance of such modification.

S&P and the Client grant to you a limited, personal license to access the Site and to access and download the Contents, but only for your own personal, family and household use. You may not use, reproduce, distribute or display any portion of the Site for any other purpose, including without limit any commercial purpose. You may use the Site and the Contents for lawful purposes only. S&P and Client reserve all rights not expressly granted, including the right to terminate your use of the Site without notice.

The Site contains copyrighted material, trademarks and service marks, and other proprietary information, including but not limited to text, software, and graphics, which materials are owned by S&P and/or its Client. S&P and Client reserve all rights in the Contents. You agree not to reproduce, distribute, sell, broadcast, publish, retransmit, disseminate, circulate or commercially exploit the Site or the Contents without the express written consent of S&P and the Client.

You agree to access the Contents and the Site manually, by request, and not automatically, through the use of a program, or other means. You agree not to take any action, alone or with others, that would interfere with the operation of the Site, to alter the Site in any way, or to impede others' access to and freedom to enjoy and use the Site as made available by S&P and S&P’s Client.

THE SITE AND THE CONTENTS ARE PROVIDED ON AN "AS IS" BASIS. S&P, ITS CLIENT, AND ANY OTHER PROVIDERS OF THE INFORMATION EXPRESSLY DISCLAIM ALL WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION ANY WARRANTY OF ACCURACY, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR NON-INFRINGEMENT.

NEITHER, S&P, THE CLIENT NOR EITHER OF THEIR AFFILIATES, SHAREHOLDERS, OFFICERS, EMPLOYEES, AGENTS OR REPRESENTATIVES SHALL BE LIABLE FOR ANY INDIRECT, INCIDENTAL, EXEMPLARY , PUNITIVE SPECIAL OR CONSEQUENTIAL DAMAGES ARISING OUT OF OR RELATING TO THE SITE, THE USE OF OR INABILITY TO USE THE SITE, OR THE CONTENTS, EVEN IF SUCH PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. IN PARTICULAR, S&P WILL NOT BE LIABLE FOR ANY LOSS OR DAMAGE CAUSED BY YOUR RELIANCE ON INFORMATION OBTAINED THROUGH THE SITE.

It is your responsibility to evaluate the accuracy, completeness or usefulness of any of the Contents available on the Site. Please seek the advice of professionals regarding the evaluation of any of the information on the Site.

The Site does not represent an offer or solicitation with respect to the purchase or sale of any security.

These Terms of Use are the entire agreement between the parties with respect to its subject matter, and it can be amended only via written agreement by S&P. These terms and conditions shall be governed by the law of New York, without regard to principals of conflicts or choice of laws.

Click Here to View Our Annual Report

321 Railroad Ave, Greenwich,
Connecticut 06830
p: 203. 863. 8200

  • ABOUT US
  • PORTFOLIO
  • ACQUISITIONS
  • NEWS
  • CONTACT
INVESTOR RELATIONS © 2019 Urstadt Biddle Properties Inc