Urstadt Biddle Properties plans greater investment in Stamford mall

Having initially invested $5.4 million in the High Ridge Shopping Center in Stamford, Greenwich-based Urstadt Biddle Properties is planning to issue stock to raise money to buy a larger stake in the popular mall. The shopping center, which currently houses a Trader Joe’s, Starbucks and several other vendors, generated about $3.5 million in revenue in its most recent quarter reports, according to Greenwich Time. Earlier this year, Urstadt Biddle also acquired Derby’s Pershing Square Shopping Center for $9 million. [Greenwich Time]