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Urstadt retired as chairman of the Greenwich-based real estate investment trust last year.
Company chief Willing L. Biddle said the property "did not meet our current investment objectives."
ince October, the company has coordinated a series of purchases across Connecticut and New Jersey plus a major asset sale in Westchester,.
Greenwich-based Urstadt Biddle sells a Meriden shopping center as part of its efforts to focus on the New York metro area.