Greenwich, Conn. — Urstadt Biddle Properties Inc. has acquired two shopping centers in New Jersey: Boonton A&P Center in Boonton and Bloomfield A&P Center in Bloomfield.
The company paid $18.4 million, subject to an existing $7.8 million mortgage, for the 63,000-sq.-ft. Boonton A&P Center. Constructed in 1999, the center features a 49,463-sq.-ft. A&P plus Dunkin’ donuts, Chase Bank, Subway, Supercuts and Sprint. More than 90% of the tenants are national or regional names.
Urstadt Biddle bought the 56,000-sq.-ft. Bloomfield A&P Center for $11 million, subject to an existing mortgage in the amount of $7.7 million. Built in 1977 and renovated in 1999, the Bloomfield center is anchored by a 30,750-sq.-ft. A&P, and an 8,950-sq.-ft. Walgreen’s. Other tenants include Dunkin’ Donuts, Supercuts, a pizzeria, liquor store and stationery store.