Urstadt Biddle Acquires Mixed Use Properties in Greenwich

Urstadt Biddle has purchased two mixed use properties totaling 89,000 square feet in the Cos Cob and Old Greenwich sections of Greenwich. The company acquired the properties for $47.4 million, or $533 per square foot. The first building stands three stories and is comprised of 48,000 square feet. A 15,600 square foot CVS Pharmacy anchors the property which sold 97% occupied. The second property is two stories and contains 41,000 square feet, anchored by an 18,200 square foot King’s Supermarket.

The first property is located on Route 1 in Cos Cob, and contains offices on the second floor and apartments on the third. Other notable tenants include Robek’s, Domino’s Pizza, and Member’s Credit Union. The second property, located  in Old Greenwich, was formerly occupied by Porricelli’s Market until King’s Supermarket occupied the newly renovated space in 2013. The supermarket is Old Greenwich’s sole grocery store south of Route 1. The property is located across from the Old Greenwich Train Station.