Townline Square Meriden, CT

[ynkeesfn82]

Townline Square is a large shopping center at 533 South Broad Street (Route 5) in Meriden at the Wallingford townline. It's owned by Urstadt Biddle Properties of Greenwich, CT.

Major Stores:

The Edge Fitness Club
PetSmart
Marshall's
Burlington Coat Factory
Michael's Arts & Crafts
Big Y Supermarket
Pier One

http://www.ubproperties.com/images/properties/87/brochure.pdf

Notes: That is an old Picture of the plaza taken after Linen & Things closed, but before Old Navy moved to the Westfield Meriden Square Mall.

The Panera Bread will be moving a few miles down Route 5 to Wallingford.

Sleepy's has been "Pre-Leasing" for years.
.

Note: BIG Y used to be Shoprite (1987-2010), Burlington/Michael's I believe was once Bradlee's (which closed before the chain went under). Beverage MAX (liquor store) I believe used to be Famous Footwear. Shoprite took over the old Shaw's a few miles down Route 5 in Wallingford. Famous Footwear moved to the next plaza over where Kohl's/Aldi's is in Wallingford. Famous moved to Townline Square after moving out fo the Westfield Meriden Square.

The Edge Fitness Club, CONNEX Credit Union, Jersey Mikes, a 10000 Square Foot Vacancy, Once Upon a Child, Five Below, GNC, and PetSmart are all part of reconfigured spaces that used to be Linen's & Things, Old Navy, and Chuck E Cheese.

[JimSawhill]

Townline Square is a large shopping center at 533 South Broad Street (Route 5) in Meriden at the Wallingford townline. It's owned by Urstadt Biddle Properties of Greenwich, CT.

Major Stores:

The Edge Fitness Club
PetSmart
Marshall's
Burlington Coat Factory
Michael's Arts & Crafts
Big Y Supermarket
Pier One

http://www.ubproperties.com/images/properties/87/brochure.pdf

Notes: That is an old Picture of the plaza taken after Linen & Things closed, but before Old Navy moved to the Westfield Meriden Square Mall.

The Panera Bread will be moving a few miles down Route 5 to Wallingford.

Sleepy's has been "Pre-Leasing" for years.
.

Note: BIG Y used to be Shoprite (1987-2010), Burlington/Michael's I believe was once Bradlee's (which closed before the chain went under). Beverage MAX (liquor store) I believe used to be Famous Footwear. Shoprite took over the old Shaw's a few miles down Route 5 in Wallingford. Famous Footwear moved to the next plaza over where Kohl's/Aldi's is in Wallingford. Famous moved to Townline Square after moving out fo the Westfield Meriden Square.

The Edge Fitness Club, CONNEX Credit Union, Jersey Mikes, a 10000 Square Foot Vacancy, Once Upon a Child, Five Below, GNC, and PetSmart are all part of reconfigured spaces that used to be Linen's & Things, Old Navy, and Chuck E Cheese.

You can see the ShopRite label scar in the picture....cool..

[Chuck E. Cheese]

Cool Info. I Know for sure that the Chuck E's was opened in 2002 and closed May 2013. It was a really good store not to mention an older one. If they had waited a few years to open, the Inside of It could have been Purple like the others :-\ . Cool that you posted anyway.

[ynkeesfn82]

Townline Square in Meriden sold to Canadian firm for $44.5 million

Published: August 26, 2015 | Last Modified: August 26, 2015 06:17PM
By Mary Ellen Godin Record-Journal staff

MERIDEN â€" Townline Square sold Tuesday for $44.5 million cash to a New Jersey partnership, according to plaza owner Wing Biddle, president of Urstadt Biddle Properties Inc.

TLS Group LLC bought the 316,000 square foot plaza at 533 S. Broad St, and has hired Hampton Properties of Montreal, Canada to manage it, according to Jacob Berger of Hampton Properties.

“It has a good tenant mix and strong rental history,” Berger said. “It has a strong lineup of national box chains and local tenants.”

The sale was part of Urstadt Biddle’s plan to sell properties outside of the greater New York City area. The Greenwich real estate investment company sold properties in Springfield, Mass., Dallas and St. Louis, Mo. this year.

“We’re just bringing it closer to home,” Biddle said.”We now have a portfolio almost exclusively located in the suburbs around New York City with an occupancy rate of almost 97 percent. We purchased Townline Square in 1996 and the property underwent many transformations during our ownership.”

Sold for $44.5 million, the property was most recently appraised at $31.5 million, according to city records. It ranked as the fifth highest property taxpayer in the city last year.

The company will use the proceeds to repay revolving debt that was used primarily to acquire grocery anchored shopping centers in fiscal 2014 and the first nine months of fiscal 2015, Biddle said.

Urstadt Biddle bought Townline when Shop Rite was the main anchor, and the company shepherded the strip mall through several retail market downturns. The majority of the retail spaces are now occupied. Anchors include: Big Y, Burlington Coat Factory, Marshall’s, Michael’s, PetSmart, Pier 1 and Edge Fitness. The plaza sits on 29 acres.

“It’s gone through a couple of rounds of retail bankruptcies,” Biddle said.

The Greenwich-based real estate investment company regularly made facade and interior improvements when Shop Rite exited and Big Y arrived; the departure of Linen’s N Things, Old Navy and Chuck E. Cheese left a row of vacancies on the northern side of the plaza for several months. Panera Bread has plans of moving to Wallingford, but Jersey Mike’s opened Wednesday in the plaza. Larger vacancies were replaced by The Edge, Once Upon a Child, and Five Below. A rotary diverting traffic in the center of the parking lot was the most recent improvement.

“The reason for it was necessary to move significantly more cars,” said Sean Moore, president of the Midstate Chamber of Commerce. “They made the investment and made it work. What I liked about this ownership was they were very patient and very selective with their tenant mix, which in the short term is a painful strategy, but makes sense in the long term.”

Instead of filling the plaza with low-grade tenants, Urstadt Biddle held out for national brands that “made the plaza successful,” Moore said.

City officials said they were unaware Urstadt Biddle was selling the property, but not surprised as they aren’t always consulted on retail deals.

“They have done a great job improving and leasing up the plaza, so the new owners will have a great opportunity to take what’s there and run with it,” said city Economic Development Director Juliet Burdelski.

Urstadt Biddle Properties Inc. is publicly traded (NYSE:UBA and UBP) and owns or has equity interests in 74 properties containing approximately 4.9 million square feet of space.

[ynkeesfn82]

Panera closed and moved down the road to Wallingford. 5 Guys is supposed to take over part of the old Panera in 2016.

[Brammy]

2019 update. Party City came and went.

Pier One closed.

A liquor store closed and was replaced by Skecher's and a gift shop.

An eyeglass or contact lense place opened next to Five Guys.

The Avenue closed with that chain's demise.