ABOUT US
The premier grocery anchored shopping center REIT
in the suburban New York Metro Area.
company overview
Urstadt Biddle Properties Inc. (NYSE: UBA) is a self-administered publicly held real estate investment trust (“REIT”) founded in 1969.
We provide investors with a means of participating in the ownership of income-producing properties. Our investment properties consist primarily of neighborhood and community shopping centers in the northeastern part of the United States with a concentration in the Metropolitan New York tri-state area outside of the City of New York. We believe that our geographic focus allows us to take advantage of the strong demographic profiles of the areas that surround the City of New York and the natural barriers to entry that high population density and limitations on developable land provide. We also believe that our ability to directly operate and manage all of our properties within the tri-state area reduces overhead costs and affords us efficiencies that a more dispersed portfolio would make difficult.
We take a disciplined, conservative approach to every aspect of commercial retail real estate. Whether it is redevelopment, property management, or acquisitions, we make comprehensive, strategic decisions based on decades of experience and market knowledge.
As a result, we believe that our property portfolio is one of the
highest quality in our industry.
over 5 million
Square Feet of Property
MORE THAN 75
Properties Owned
Since 1969
Uninterrupted Dividends
LEADERSHIP
Careers
Urstadt Biddle Properties Inc. provides equal employment opportunity to all
persons. No employee or applicant for employment will be discriminated
against because of race, creed, origin, marital status, sexual orientation,
age, otherwise qualified disabled or veteran status or any
other characteristic protected by applicable law.
COMPANY HISTORY
Timeline
A REIT IS BORN
First Hubbard Real Estate Investments Annual Report; Ralph Coburn, President (inset). Hubbard Real Estate Investments, an unincorporated Massachusetts Business Trust, is formed on July 7 in Massachusetts. Merrill Lynch, Pierce, Fenner & Smith sponsors the REIT. The advisor is Hubbard, Westervelt & Mottelay, a Merrill Lynch real estate financing subsidiary..Read More
FIRST DIVIDEND ISSUED; DEBUT ON NYSE
In January, the company’s first quarterly dividend is paid to its shareholders. Hubbard Real Estate Investments is listed on the New York Stock Exchange in May under the ticker “HRE”. The company is headquartered in Boston, but is effectively run out of Merrill Lynch’s office in NYC.
A DIVERSE, NATIONAL PROPERTY PORTFOLIO FORMS
The company ends the fiscal year with ownership of 58 properties, mostly generated from deals with Merrill’s corporate clients. The portfolio includes properties occupied by department stores, supermarkets, gas stations, corporate headquarters and storage and distribution centers across the country, with the greatest concentration in the Southwest.
NEW LEADERSHIP TAKES CHARGE
Merrill Lynch executive William F. Murdoch, Jr. is named president to replace the retiring Coburn as president of the company. At year-end, the company owned 59 net-leased properties in 21 states. The largest tenant, W.T. Grant with 11 locations and occupying 1.6 million square feet owned by the company, files..Read More
SUCCESSFUL $100 MILLION OFFERING
The company raises $100 million. It embarks on a new strategy investing in office building developments around the U.S.
A NEW NAME AND HQ
Following tax law changes that modernized restrictions on REITs, the company ends its advisory relationship with Merrill Lynch, becomes self-administered and changes its name to HRE Properties. Many assets are sold back to tenants, and the number of properties owned by the company is reduced to 26. Urstadt is named..Read More
CHARLES J. URSTADT TAKES OVER AS CEO
In addition to his position as Chairman, Urstadt is also named President and Chief Executive Officer. Urstadt presents a new strategic plan for the company, which his fellow directors endorse. Five simple principals are adopted: 1. HRE would invest primarily in one property type (i.e., open air retail centers) and..Read More
WING BIDDLE JOINS THE COMPANY AMID GROWTH
Willing “Wing” Biddle, a former real estate banker and development executive, as well as a son-in-law of Urstadt, joins the company as Vice President of Management and the portfolio transition accelerates. At year end, 66% of the company’s portfolio is located in the Northeast, with retail properties comprising 65% of..Read More
A NEW HOME IN GREENWICH, CT
The company purchases an office building at 321 Railroad Avenue in Greenwich, CT and relocates its 16 employees from NYC both to reduce costs and to be better able to focus on suburban centers. 77% of the company’s assets are now retail properties.
WING BIDDLE NAMED CEO
Biddle is named President and Chief Operating Officer.
COMPANY RENAMED URSTADT BIDDLE PROPERTIES INC.
The shareholders approve changing the name of the company to Urstadt Biddle Properties Inc. A special dividend of Class A Common Stock (“UBA”) is distributed to recordholders of Common Stock (“UBP”).
COMPANY CELEBRATES 30 YEARS OF GROWTH
The company celebrates 30 years of uninterrupted dividends and its core portfolio is 13 shopping centers and a few small office buildings in Greenwich, all totaling 1,568,000 square feet. The balance of the portfolio consists of nine legacy properties containing 1,604,000 square feet and one 4.2-acre vacant parcel. Notable additions..Read More
BIDDLE AND CHARLES D. URSTADT NAMED TO BOARD
HRE Properties is reorganized from a trust to a Maryland corporation. Biddle and Charles D. Urstadt, a real estate brokerage executive and son of Charles J. Urstadt, are elected to the Board of Directors.
RIDGEWAY SHOPPING CENTER ACQUIRED
The company acquires a controlling interest in Ridgeway Shopping Center in Stamford, CT via its first DownREIT transaction. The 360,000 square foot center is the largest open-air center in Fairfield County.
FOUR MAJOR ACQUISITIONS COMPLETED
The company purchases four notable properties: Westchester Pavilion, an enclosed 185,000 square foot center in White Plains, NY; Orange Meadows Shopping Center, a 78,000 square foot property in Orange, CT; Green Farms Plaza, a 38,000 square foot center in Westport, CT; and Somers Commons, a 135,000 square foot center in..Read More
CORE PROPERTY PORTFOLIO REACHES MILESTONE
The company celebrates 35 years of uninterrupted dividends. In its core property portfolio, the company holds 30 properties totaling 2,907,000 square feet. The balance of the portfolio consists of four legacy properties containing 775,000 square feet. The Dock Shopping Center, a 269,000 square foot property in Stratford, CT, is purchased.
STAPLES PLAZA ACQUIRED
The company purchases Staples Plaza, a 200,000 square foot center in Yorktown, NY.
EMERSON PLAZA ADDED TO PORTFOLIO
The company acquires Emerson Plaza, a 92,000 square foot center in Emerson NJ.
TWO SIGNIFICANT TRANSACTIONS ADD CORE PROPERTIES
Veterans Plaza, a 70,000 square foot center in New Milford, CT, is acquired, and a controlling interest in Ferry Plaza, a 101,000 square foot center in Newark, NJ, is acquired via a DownREIT transaction.
COMPANY CELEBRATES 40TH ANNIVERSARY
The company celebrates its 40th anniversary and the continuous payment of uninterrupted dividends since its founding, as well as 16 consecutive years of increased dividends. The company’s core property portfolio has grown to 49 properties totaling 3,471,000 square feet.
COMPANY EXPANDS WITH FOUR MAJOR PROPERTY ACQUISITIONS
The company purchases interests in four significant properties: New Milford Plaza, a 231,000 square foot center in New Milford, CT; a 67% interest in Putnam Plaza, a 193,000 square foot center in Carmel, NY; an 11% interest in Midway Shopping Center, a 247,000 square foot property in Scarsdale, NY; and..Read More
THREE SHOPPING CENTERS ADDED TO PORTFOLIO
The company acquires three centers: Fairfield Plaza, a 72,000 square foot center in New Milford, CT; Fairfield Centre, a 63,000 square foot property in Fairfield, CT; and Eastchester Plaza, a 24,000 square foot property in Eastchester, NY.
ORANGEBURG AND CHESTNUT RIDGE CENTERS PURCHASED
A controlling interest in Orangetown Shopping Center, a 74,000 square foot property in Orangeburg, NY, is acquired via a DownREIT transaction, and a 50% interest in Chestnut Ridge Shopping Center, a 76,000 square foot center in Montvale, NJ, is also aquired.
VILLAGE SHOPPING CENTER PURCHASED
Charles J. Urstadt steps down as chief executive officer (remaining as Chairman). Biddle retains his title of President and becomes CEO. In May, the company acquires Village Shopping Center, a 109,000 square foot property in New Providence, NJ.
45 YEARS AND 5 2014 NEW PROPERTIES
The company celebrates 45 years of uninterrupted dividends and 21 years of increased dividends. In its core property portfolio, the company holds 74 properties totaling 5,125,000 square feet. By 2014, almost all non-core properties have been sold, and the portfolio transformation has been completed through the use of a number..Read More
OVER 400,00 SQUARE FEET ADDED TO PORTFOLIO
The company acquires Harrison Market Square, a 25,000 square foot property in Harrison, NY, as well as a portfolio of four centers totaling 375,000 square feet in northern New Jersey.
EXPANSION CONTINUES
The company completes the acquisition of two notable properties: Newfield Green Shopping Center, a 72,000 square foot center in Stamford, CT, and 970 High Ridge Road, a 27,000 square foot center also in Stamford, CT.
FIVE SIGNIFICANT TRANSACTIONS
The company acquires interests in five significant properties: High Ridge Shopping Center, a 92,000 square foot center in Stamford, CT; CVS Pharmacy, an 8,000 square foot building in Old Greenwich, CT; Van Houten Plaza, a 37,000 square foot center in Passaic, NJ; Waldwick Plaza, a 27,000 square foot center in..Read More
CHARLES J. URSTADT RETIRES CHARLES D. URSTADT BECOMES CHAIRMAN
The company announces the retirement of Charles J. Urstadt as Chairman and the election of Charles D. Urstadt (formerly Vice Chairman) as Chairman. COMPANY ACQUIRES ADDITIONAL PROPERTY The company acquires Aldi Square, a 39,000 square foot center in Derby, CT; 470 Main Street, a 24,200 mixed use property in Ridgefield,..Read More
50TH ANNIVERSARY CELEBRATED WITH CONTINUED EXPANSION
The company celebrates its 50th anniversary, marking the event by ringing the closing bell at the New York Stock Exchange on September 6, 2019. The company acquires Lakeview Plaza, a 177,000 square foot center in Brewster NY. The portfolio has grown to 82 properties totaling 5,278,000 square feet, and the..Read More
STRATEGIC RESILIENCE
The company experiences an unprecedented event with the COVID-19 pandemic. Government restrictions on business operations and changes in the public’s shopping patterns driven by fear of the virus negatively impact the company’s approximately 900 commercial tenants, in response, the company to supports many of its struggling tenants with lease modifications...Read More
Shelton Square Shopping Center
The company acquires Shelton Square Shopping Center, a 188,000-square-foot property in Shelton, CT.
GREAT THINGS AHEAD
Having accumulated an irreplaceable portfolio of properties in one of the best retail markets in the country and with a great team to run them and acquire more, the company’s future is bright.
