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Dial REIT Inc. Omaha, Neb.

Dial REIT Inc. Omaha, Neb.

This real estate investment trust, with total assets of $117 million, is no stranger to Arkansas. The company owns a 143,000-SF shopping center in northeast Arkansas in addition to its involvement with the Valley Park Centre development in Russellville.

Dial REIT bought Town West Center in Paragould in 1988, one of five properties picked up in the $25 million acquisition of American Income Properties.

The corporation, a publicly-traded company on the New York Stock Exchange, owns 19 retail properties (five malls and 14 strip centers) in eight states. The projects include:

* Imperial Mall (50% ownership), Hastings, Neb. -- 273,753-SF enclosed mall.

* Thunderbird Mall, Virginia, Minn. -- 239,371-SF enclosed mall.

* Delta Plaza, Escanaba, Mich. -- 207,234-SF enclosed mall.

* Germantown Shopping Center, Jasper, Ind. -- 202,766-SF.

* Monument Mall, Scottsbluff, Neb. -- 166,753-SF enclosed mall.

* Shenandoah Plaza, Newnan, Ga. -- 141,072-SF.

* Stockyards Plaza (50% ownership), Omaha, Neb. -- 129,471-SF

* Rivergate Shopping Center, Shelbyville, Ind. -- 108,324-SF.

* Macon County Plaza, Lafayette, Tenn. -- 86,669-SF.

* Taylor Heights (50% ownership), Sheboygan, Wis. -- 85,072.

* Ile de Grand, Grand Island, Neb. -- 83,065-SF.

* Edgewood Shopping Center, Lincoln, Neb. -- 73,271-SF.

* Miracle Hills Park, Omaha, Neb. -- 71,090-SF.

* Village Square, Inver Grove Heights, Minn. -- 70,738-SF enclosed mall.

* Eastville Plaza, Fremont, Neb. -- 68,546-SF.

* The Meadows, Lincoln, Neb. -- 67,840-SF.

* Bishop Heights, Lincoln, Neb. -- 26,042-SF.

* Westview Plaza, McCook Neb. -- 16,615-SF.

As a real estate investment, Dial REIT pays no corporate taxes and must pay out 95% of its taxable income to investors. In 1990, that added up to $8.9 million on total revenues of $15 million.
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Title Annotation:real estate investment trust
Publication:Arkansas Business
Article Type:company profile
Date:Apr 8, 1991
Words:267
Previous Article:Big doings in Russellville; a $15 million shopping center project reshapes the local commercial scene.
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