News: Retail
Posted: October 23, 2014
Cushman & Wakefield sells Five Town Plaza for $31 million
Cushman & Wakefield completed the sale of Five Town Plaza for $3.1 million to Phillips Edison-ARC Shopping Center REIT Inc. The Cushman & Wakefield team, led by president Rob Griffin, executive vice president Geoffrey Millerd and associate director Justin Smith, oversaw the transaction of the 328,372 s/f Big Y-anchored property on behalf of Urstadt Biddle Properties, Inc.
Five Town Plaza is a shopping center located on Rte. 21 (Cooley St.) in one of the most densely populated areas of western Massachusetts. In addition to Big Y, this institutionally owned and operated asset has consistently attracted and retained some of the most dominant retailers in the market. Urstadt Biddle Properties, a self-administered equity real estate investment trust (REIT) founded in 1969 and headquartered in Greenwich, Conn., has owned Five Town Plaza for over 40 years.
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The New England Real Estate Journal presents
the First Annual Project of the Year Award! Vote today!
The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
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