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ALEXANDER'S RECEIVES COMPETING BID FROM THE CALDOR CORPORATION FOR SIX STORE PROPERTIES

 ALEXANDER'S RECEIVES COMPETING BID FROM THE CALDOR CORPORATION
 FOR SIX STORE PROPERTIES
 NEW YORK, Nov. 3 /PRNewswire/ -- Alexander's Inc. (NYSE: ALX) announced today that it has received a competing bid from The Caldor Corporation for the six store properties that are the subject of the previously announced transaction with Bradlees, Inc. The transaction proposed by Caldor exceeds the initial bid by Bradlees by approximately $5 million in present value (of future rental payments.) The terms and conditions, other than price, of the proposed Caldor transaction are substantially similar to those of the proposed Bradlees transaction. The proposed transactions remains subject to approval of the bankruptcy court and to higher and better offers.
 As previously announced, the agreements involve the sale leases on three Alexander's store properties for cash and the net lease or net sublease on a long-term basis of three other store properties, the consideration for which will consist primarily of future rental payments. The three store leases to be sold are: Bruckner Boulevard, Bronx; Central Park Avenue, Yonkers; and Sunrise Highway, Valley Stream, Long Island. The stores to be net leased or net subleased are: 63rd Road and Queens Boulevard, Rego Park, Queens; Fordham Road and Grand Concourse, Bronx; and Roosevelt Avenue, Flushing.
 -0- 11/3/92
 /CONTACT: Jeremy Weithas of Kekst and Company, 212-593-2655, for Alexander's/
 (ALX) CO: Alexander's, Inc. ST: New York IN: REA SU:


TM-AH -- NY070 -- 2249 11/03/92 19:01 EST
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Publication:PR Newswire
Date:Nov 3, 1992
Words:238
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