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Urstadt Biddle acquires two retail properties
Greenwich, Conn. -- Urstadt Biddle Properties Inc. has acquired two retail properties on Putnam Avenue (US Route 1) in Greenwich, Conn., for $18 million.
West Putnam Plaza is a 9,300-sq.-ft. retail strip center shadow-anchored by a Stop & Shop supermarket. National tenants include Cosi and JP Morgan Chase Bank. A wine retailer, day spa and women’s fitness studio round out the tenant list.
The second property is Cos Cob Plaza, a 15,000-sq.-ft. retail and office center. Tenants include Jos. A. Bank. -
JLL Report: Retail going borderless
Atlanta -- A just-released report by Jones Lang LaSalle Retail found that three trends — in retail investing, retail expansion and e-commerce — are making national borders increasingly irrelevant to the retail industry. According to Jones Lang LaSalle’s “Global Capital Flows,” retail investment captured 25% of the total global market share of real estate investment in first quarter 2013.