Ames to Lease 113,000 Sq. Ft. Former Caldor Store at Kranzco's Bristol Commerce Park; 20-Year Lease Valued in Excess of $6 Million.CONSHOHOCKEN, Pa.--(BUSINESS WIRE)--Nov. 3, 1999-- Kranzco Realty Trust (NYSE NYSE See: New York Stock Exchange :KRT KRT Knight Ridder/Tribune KRT Keratin KRT Knights of the Round Table (Diablo gaming guild) KRT Khartoum, Sudan - Civil (Airport Code) KRT Kleene's Recursion Theorem ), a real estate investment trust, today announced it has signed a lease with Ames Department Stores This is a list of department stores. In the case of department store groups the location of the flagship store is given. This list does not include large specialist stores, which sometimes resemble department stores. , Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :AMES) for the 113,000 square foot former Caldor store at Bristol Commerce Park, Bristol, PA. The 20-year lease is valued at more than $6 million. Ames, headquartered in Rocky Hill Rocky Hill, town (1990 pop. 16,554), Hartford co., central Conn., a suburb of Hartford, on the Connecticut River; settled c.1650, inc. 1843. Chemical coatings and synthetic textiles are made there. Rocky Hill was an important river port from 1700 to 1820. , CT, is the nation's largest regional full-line discount retailer with annual sales of nearly $4 billion. It operates more than 455 stores, including 155 Hills Stores acquired earlier this year, in 19 states and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). . The Bristol Commerce Park store is scheduled to open in March 2000, in time for the Easter shopping season. Ames joins SuperFresh as anchors at Bristol, in the heart of affluent Bucks County. Major tenants include Eckerd Drug, Fashion Bug, Radio Shack and Family Toy Warehouse. Out parcels house McDonald's, Pizza Hut, PNC PNC Purdue University North Central (Westville, Indiana) PnC Point 'n Click PNC Police National Computer PNC People's National Congress (Guyana) PNC People's National Congress Bank, STS (Synchronous Transport Signal) The electrical equivalent of the SONET optical signal. In SDH, the European counterpart of SONET, STS is known as STM (Synchronous Transport Module). Tire and Auto Center and Big Apple Grill. Norman M. Kranzdorf, president and chief executive officer of Kranzco, commented: "Ames is a major, rapidly growing retail force that has added more than 161 new stores this year. The Bristol store will be the third Ames unit in a Kranzco center, a positive reflection of our abilities to provide appealing shopping environments and strong consumer traffic flows." He added: "The Bristol store was one of three facilities vacated by Caldor as a result of their bankruptcy. The 120,000 square foot store at Suburban Plaza, Hamilton Township, NJ, is now home to a Bradlees, which recently held a successful grand opening, and the lease for the 94,000 square foot store at Anneslie Shopping Center, Baltimore, MD, is guaranteed and full rent is being paid by the guarantor while we pursue new tenant opportunities. The movement of prime retail space from weak to stronger merchants is part of the evolutionary process that accompanies shifting consumer needs and desires. Awareness and rapid response to those trends help Kranzco centers maintain their status as key shopping destinations for area residents." Kranzco Realty Trust is a self-administered, self-managed real estate investment trust that owns and operates 62 neighborhood and community shopping centers with approximately 9 million square feet of leasable area in 16 states. Detailed information regarding Kranzco and its properties can be found on its World Wide Web site: http://www.krt.com. |
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