Printer Friendly

THE PRICE REIT INC. ANNOUNCES ARIZONA ACQUISITION

 SAN DIEGO, Oct. 1 /PRNewswire/ -- The Price REIT Inc. (NASDAQ-NMS: PRETB and PRET) today announced the acquisition of a 344,246-square-foot retail "power center" located in the Phoenix suburb of Glendale, Ariz.
 The 40-acre project was acquired for total consideration of $28.2 million. The center is fully leased and anchored by a Price Club, Home Base (a subsidiary of WABAN Inc.) and Levitz Furniture. Other tenants include Blockbuster Video, Kentucky Fried Chicken, Red Robin Burgers and County Harvest Buffet.
 The Price REIT is a self-administered, self-managed, fully integrated real estate investment trust specializing in the ownership and acquisition of retail power centers with invested assets of approximately $300 million. The company now owns 12 retail properties located in six states with approximately 3.4 million square feet of gross leasable area, with an overall occupancy rate in excess of 98 percent.
 -0- 10/1/93
 /CONTACT: George Jezek, The Price REIT Inc., 619-551-2320/
 (PRETB PRET)


CO: The Price REIT Inc. ST: California IN: FIN SU: TNM RLE

EH-JB -- SD003 -- 7865 10/01/93 14:39 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 1, 1993
Words:177
Previous Article:CROWN CENTRAL PETROLEUM APPOINTS DIRECTOR, INFORMATION SYSTEMS
Next Article:EDITEK, INC. GRADUATES TO AMERICAN STOCK EXCHANGE PRIMARY MARKET
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters