Profile: Urstadt Biddle Properties Inc (UBP)
16 Mar 2018
Urstadt Biddle Properties Inc., incorporated on December 30, 1996, is a real estate investment trust, which is engaged in the acquisition, ownership and management of commercial real estate. The Company owns Ridgeway Shopping Center (Ridgeway) property, which is located in Stamford, Connecticut. The Company's segments include Ridgeway and All Other Operating Segments. The Company's primary business is the ownership of real estate investments with primary emphasis on properties in the metropolitan New York tri-state area outside of the City of New York. As of October 31, 2016, the Company's properties consisted principally of neighborhood and community shopping centers and seven office buildings. As of March 30, 2017, the Company owned or had equity interests in 80 properties, including neighborhood and community shopping centers, office buildings, single tenant retail or restaurant properties and office/retail mixed use properties located in four states throughout the United States, containing a total of five million square feet of gross leasable area (GLA).
As of October 31, 2016, the Company's properties collectively had 862 leases with tenants providing a range of products and services. Tenants include regional supermarkets, national and regional discount department stores, other local retailers and office tenants. The Ridgeway property is a grocery anchored center and non-mall shopping center located in the City of Stamford, Fairfield County, Connecticut. As of October 31, 2016, the Ridgeway property had approximately 374,000 square feet of GLA. As of October 31, 2016, Ridgeway was 98% leased. As of October 31, 2016, the Company, through a subsidiary, owned 84% of one consolidated limited partnership, UB Ironbound, LP, which owned a grocery-anchored shopping center. As of October 31, 2016, the Company, through a subsidiary, owned an approximate 34.0% interest in Orangeburg, which owned a CVS Pharmacy anchored shopping center in Orangeburg, New York.
As of October 31, 2016, the Company, through a subsidiary, owned a 53% interest in McLean Plaza Associates, LLC, which owned a grocery-anchored shopping center. As of October 31, 2016, the Company, through two subsidiaries, owned a 50% undivided equity interest in the 76,000 square foot Chestnut Ridge Shopping Center located in Montvale, New Jersey, and the 24,000 square foot Plaza 59 Shopping Center located in Spring Valley, New York. As of October 31, 2016, the Company, through a subsidiary, owned an 11.64% equity interest in Midway Shopping Center L.P., which owned a 247,000 square foot grocery-anchored shopping center in Westchester County, New York. As of October 31, 2016, the Company, through a subsidiary, owned a 66.67% undivided equity interest in the 189,000 square foot Putnam Plaza Shopping Center, which is anchored by a grocery store. As of October 31, 2016, the Company's other investment in an unconsolidated joint venture was a 20% economic interest in a partnership, which owned a retail and office building in Westchester County, New York.
Urstadt Biddle Properties Inc
321 Railroad Ave
GREENWICH CT 06830-6389