Urstadt Biddle acquires mixed-use properties in Greenwich

By Crystal Kang

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Urstadt Biddle Properties Inc. recently bought mixed-use properties totaling 89,000 square feet in Cos Cob and Old Greenwich for $47.4 million.

The Greenwich-based equity real estate investment trust acquired a three-story, 48,000-square-foot property at 120-136 E. Putnam Ave. in Cos Cob anchored by a 15,600-square-foot CVS pharmacy. Its other retail tenants include Robeks, Domino’s Pizza and Members Credit Union. The property, which is 97 percent occupied, has second-floor offices and third-floor apartments.

The company also bought a cluster of two-story buildings comprising more than 41,000 square feet at 178-188 South Beach Ave. and 26 and 36 Arcadia Road in Old Greenwich. The anchor tenant is a newly renovated, 18,200-square-foot Kings supermarket that replaced a Porricelli’s market last year. Other tenants include Dunkin’ Donuts, Panache salon, Chillybear, a delicatessen and a dry cleaner. Office spaces fill the second floors.

Penny P. Wickey and Daniel Neaton, brokers at Westport-based Saugatuck Commercial Real Estate, represented the sellers.

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About the author

Crystal Kang
Crystal Kang, a Chicago native, is former a reporter for the Fairfield and Westchester business journals. She is a graduate of Columbia Journalism School and her work has appeared in news outlets including CNBC.com, Allstate Corporation’s investor relations website, and an NPR-based radio station in Urbana, Ill.

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