Urstadt Biddle Properties Inc. has completed the purchase of a retail property in Bergen County, N.J., for a purchase price of $6.25 million, excluding closing costs, the company announced last week.

The 20,000-square-foot property, located on Franklin Turnpike in Waldwick, N.J., is net-leased to Rite Aid, a publicly traded, national chain of drug stores, under a long-term lease that expires in 2017.

Urstadt Biddle Properties Inc. is a self-administered equity real estate investment trust. The company owns or has interest in 40 properties containing approximately 3.8 million square feet of space.

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Thank you for subscribing to Morning Headlines.
Back to top
We've updated our terms of use.Read them here×