Article: Urstadt Biddle Properties Inc. Acquires 80,000-Square-Foot Westchester County, New York Shopping Center.

GREENWICH, Conn., Sept. 7 /PRNewswire/ -- Urstadt Biddle Properties Inc. (NYSE: UBP and UBP.A), a real estate investment trust, announced that it has acquired the 80,000-square-foot Towne Centre Shopping Center in Somers, New York at a cost of $9.5 million.

Towne Centre is a neighborhood shopping center located at Routes 100 and 202 in Westchester County, New York. The Center's tenants include Gristedes (a regional supermarket), U.S. Post Office, The Bank of New York and Astoria Federal Savings Bank, all of whom have long-term leases at the Center. The property is 95% occupied, and was purchased from a regional developer of commercial property. UBP also owns ...

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