HRE Properties.HRE Properties (NYSE NYSE See: New York Stock Exchange :HRE) announced that it has signed a long-term lease with Fabri-Centers of America, Inc. for 22,500 square- feet of retail space at HRE's Newington, New Hampshire Newington is a town in Rockingham County, New Hampshire, United States. The population was 775 at the 2000 census. It is bounded to the west by Great Bay, northwest by Little Bay and northeast by the Piscataqua River. property. HRE noted that the transaction is valued at over $2.4 million and will add about four cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. to its annual funds from operations Funds From Operations (FFO) Used by real estate and other investment trusts to define the cash flow from trust operations; earnings with depreciation and amortization added back. beginning in fiscal 1993. Bryant Young, HRE vice president who negotiated the lease said that FabriCenter plans to open a Jo-Ann Fabrics store in the Newington complex later this year. Jo-Ann Fabrics is a specialty retailer of fabrics, crafts and related products. Jo-Ann Fabrics will join Sears Homelife and Red Lobster at the Newington project. The 102,000 square-foot Newington project, located between two regional shopping centers, has been gradually converted from industrial to mixed retail and office use over the last few years. |
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