Urstadt Biddle Properties Inc. raised $45 million in an offering of stock, planning to use the proceeds to reduce debt, improve existing commercial properties, and possibly acquire new ones.
Greenwich-based Urstadt Biddle owns some 15 million square feet of space in the tri-state area, much of it retail. In its third fiscal quarter ending July 31, the company had a $7.9 million profit on $21.8 million in revenue, closing the fiscal quarter with cash and equivalents of $2.6 million, and total assets of $549 million.
Polarn O. Pyret coming to Greenwich
Swedish children”™s apparel retailer Polarn O. Pyret (PO.P) signed a sublease for 2,000 square feet of space at 243 Greenwich Ave. in Greenwich, its first location in the United States.
The company”™s new location was previously the site of a Coach retail store. PO.P was assisted by CB Richard Ellis and its Stamford retail services group.
“Our philosophy is to let children be children and to offer truly functional garments for all needs that kids have,” said Jennifer Athanason of Polarn O. Pyret, in a statement. “We believe that this philosophy is well suited to the United States”™ market.”
Exotic Aquatics opens Norwalk store
Exotic Aquatics opened a new store at 119 New Canaan Ave. in Norwalk, selling fish, aquariums and accessories.
The seven-year-old company also provides estimates on design and installation of ponds, waterfalls and fountains.
