Urstadt Biddle Properties has acquired a retail center in New Milford, Conn., for $22.5 million. The 229,000-square-foot New Milford Shopping Plaza is anchored by a 102,000-square-foot Wal-Mart and a 72,000-square-foot Stop & Shop supermarket. Urstadt acquired the property from WestRidge Realty Advisors in an off-market deal.

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