Bradlees Holds Grand Opening At Suburban Plaza, Hamilton Township, NJ.

CONSHOHOCKEN, Pa.--(BUSINESS WIRE)--Oct. 13, 1999--

Kranzco Realty Trust (NYSE:KRT), a real estate investment trust, announced that Bradlees held a grand opening ribbon-cutting ceremony of its new store at Suburban Plaza, Hamilton Township, New Jersey, on October 7.

Bradlees will continue to hold grand opening festivities for 2 weeks, featuring special advertising, free giveaways, customer sweepstakes and special guests. This discount chain presently operates 104 stores in 7 northeastern states and had annual sales of $1.4 billion in 1998.

"The 120,000 square foot Bradlees, previously a Caldor store, anchors the center in rapidly growing Mercer County," Norman M. Kranzdorf, president and chief executive officer of Kranzco, said. "We are excited about the continued growth of Bradlees and strong customer response to their assortment of discount merchandise," he added.

Other major tenants at Suburban Plaza include Shop Rite and Drug Emporium. Hollywood Video is presently building a new 5,000 square foot store on an out-parcel.

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.