Urstadt Biddle Properties Inc. Announces Acquisition of Shelton Square Shopping Center Located in Shelton, CT

Feb 03, 2022

Urstadt+Biddle+Properties+Inc. (NYSE: UBA and UBP) announced today that it has acquired, for $33.6 million, Shelton Square Shopping Center, located in Shelton, CT (“Shelton Square”). Shelton Square is a 186,000 square foot community shopping center comprised of one building and three pad sites on a 20+-acre site and anchored by a 67,000 square foot Stop & Shop with a long-term lease. Stop & Shop also leases an additional 70,000 square feet at Shelton Square, which additional space formerly housed a Bradlees department store. Stop & Shop is the former owner of Bradlees, and it has sublet the additional space to Edge Fitness, Hawley Lane Shoes and, previously, Bed, Bath & Beyond. The former BBB space is now vacant and available. In total, Shelton Square is 96.5% leased to a diverse mixture of local, regional, and national tenants. Other tenants include People’s United Bank, St. Vincent’s/Hartford Health, Burger King, Sports Clips, a local pizzeria, a local wine and spirits store, an optician, a salon, a jeweler, a Chinese restaurant and a brand-new physical therapist.

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