Urstadt Biddle buys $50m Stratford shopping center.Urstadt Biddle Properties Inc. has announced the acquisition of The Dock Shopping Center shopping center, a concentration of retail, service, and entertainment enterprises designed to serve the surrounding region. The modern shopping center differs from its antecedents—bazaars and marketplaces—in that the shops are usually amalgamated into , a 269,000 square foot retail center in Stratford, Connecticut Stratford is a town in Fairfield County, Connecticut, United States, located on Long Island Sound at the mouth of the Housatonic River. It was founded by Puritans in 1639. The population was 49,976 at the 2000 census. , and an adjacent 192-slip marina along the Housatonic River, for a purchase price of $50.25 million. The property is UBP's ninth retail acquisition in Connecticut. Willing Biddle, President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of UBP UBP United Bermuda Party UBP United Bermuda Party (Bermuda) UBP Université Blaise Pascal (France) UBP Universal Black Pages UBP Ulusal Birlik Partisi (National Unity Party, Cyprus) said, "The Dock is a great shopping center in a great location. We are extremely pleased to add it to our portfolio of market dominant retail properties in the Connecticut and Metropolitan New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of areas". The Dock is one of the largest retail centers in the Fairfield County trade area and is anchored by a 60,000 square foot Stop & Shop Supermarket. The tenant roster also includes Staples, Petco. JoAnne Fabrics, Toy Works and Blockbuster Video, as well as a former 100,000 square foot Bradlee's, that is currently being aggressively marketed by the new owner. An established and successful retail hub that serves the Stratford, Milford and Shelton trade areas, the highly-visible center is located directly on Route 1 at the junction of I-95 and Route 110, and benefits from a traffic count of over 172,000 vehicles per day, as well as its densely-populated surroundings. UBP purchased The Dock Shopping Center from the Connecticut-based Osborne family, who has owned and operated the property for several generations. The center was built in 1971 on the site acquired by the family in 1951, and operated as a coal yard for two decades. In 1968, when the local power plant switched to oil, the Osbornes ceased running the yard and built the shopping center on the property. In 1986, the retail center was expanded, and in the 1990's, the adjacent Marina at the Dock was constructed. Charles J. Urstadt, Chairman and Chief Executive Officer commented "This acquisition is one of our largest to date and continues our strategic goal to be the dominant retail real estate owner in Fairfield and Westchester Counties". UBP owns 34 shopping centers in Connecticut, New York, Massachusetts, New Hampshire New Hampshire, one of the New England states of the NE United States. It is bordered by Massachusetts (S), Vermont, with the Connecticut R. forming the boundary (W), the Canadian province of Quebec (NW), and Maine and a short strip of the Atlantic Ocean (E). and New Jersey. Other holdings include Ridgeway A ridgeway is a road or path that follows the highest part of the landscape. Roads and pathways
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