CARMEL AND KATONAH, N.Y. — Urstadt Biddle Properties has acquired two retail properties in New York. In the first transaction, the REIT purchased a two-thirds equity interest in Putnam Plaza Shopping Center, a 193,000-square-foot property located in Carmel. Located along Route 6, the property is valued at $28.6 million. The tenant roster includes anchor Hannaford Brothers Supermarket, Rite Aid, NY Sports Club, Radio Shack, Starbucks and Dress Barn. Urstadt Biddle's partner in the property is a local real estate investor. The second transaction involved the outright purchase of three multi-use properties located in downtown Katonah. The buildings consist of 14,000 square feet of office space above 18,000 square feet of ground-floor retail. The office component is fully leased and the retail component is anchored by Mrs. Green's Natural Food Market. Urstadt Biddle purchased the buildings for $8.52 million.
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