Urstadt Biddle pays $13.3M for Stamford mall

By Phil Hall

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Greenwich-based Urstadt Biddle Properties Inc. has purchased the 27,000-square-foot 970 High Ridge Road Shopping Center in Stamford for $13.3 million.
The center, which is 100 percent leased, includes a 6,700-square-foot FedEx Office among its tenants, along with franchises of Supercuts and Verizon, and the local independently-owned restaurants Luigi’s and Mackenzie’s Sports Bar and Pub. Urstadt Biddle funded its acquisition with available cash.
“High Ridge Road in Stamford is one of the most sought after retail destinations in the state,” said Zach Fox, vice president of acquisitions at Urstadt Biddle Properties. “Historically, this area has had a very low vacancy rate. This will be a strong, low risk investment for UBP for years to come. Owners know we can close quickly and quietly, and this turned out to be one of our smoothest transactions to date.”

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