Retail

NEW PROVIDENCE, N.J. — Urstadt Biddle Properties Inc. has acquired The Village Shopping Center in New Providence for $34.8 million. The property was purchased subject to an existing mortgage in the amount of $18.9 million that requires payments of principal and interest at a fixed rate of 5.6 percent per year. The mortgage matures in January 2022. The 110,000-square-foot shopping center is located on Springfield Avenue and is anchored by a three-year old, 45,000-square-foot A&P grocery store, CVS/pharmacy, Radio Shack, Investor’s Bank and Smashburger. The shopping center was built in 1965 by the seller but recently renovated to accommodate the new A&P.

NEW YORK CITY — H&R Block has signed a lease renewal at 4188 White Plains Road in the Bronx, a New York City neighborhood. H&R Block renewed its lease in a 12,500-square-foot shopping center located between East 232nd and 233rd streets. The shopping center features 13 neighboring tenants including T-Mobile, McDonald’s and Dunkin’ Donuts. A 32-space parking lot is located in the rear of the property. Jerry Houlihan of the Metro Property Group and Houlihan Parnes Realtors LLC represented the landlord in the transaction.

CLINTON, N.J. — Unity Bank, a subsidiary of Unity Bancorp Inc., has entered into an agreement with Gramercy Capital Corp. to purchase three of its branch locations in New Jersey for $4.3 million. The three properties are located at 1746 Oak Tree Road in Edison, 104 Raritan Ave. in Highland Park and 2426 Plainfield Ave. in South Plainfield.