Urstadt Biddle pays $10M for Harrison Shopping Center
- Harrison Shopping Center on Halstead Avenue.
Urstadt Biddle Properties Inc. in Greenwich has closed on its $10 million purchase of the 25,000-square-foot Harrison Shopping Center on Halstead Avenue in Harrison.
Executives at the publicly traded real estate investment trust in a press release said the retail center”™s anchor store, an A&P Fresh Supermarket, most likely will be replaced by a “prominent” grocer following A&P”™s parent company”™s recent bankruptcy filing.
Built in 1957 by the Claremon family, the seller in the deal with Urstadt Biddle, the shopping center ”“ near the Metro-North Harrison station ”“ also includes a bakery, hair salon, florist, restaurants and AT&T as long-term tenants.
James Aries, Urstadt Biddle’s acquisitions director, in the announcement said the Greenwich company”™s long-standing relationship with the Harrison property’s previous owner began in a management role and “enabled us to close on this acquisition quickly and quietly, which was critical to the selling family.”
Aries said improvements to the center “will largely be driven by the replacement grocer.”