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HRE Properties.

HRE Properties (NYSE: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 property.

HRE noted that the transaction is valued at over $2.4 million and will add about four cents per share to its annual funds from operations 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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Title Annotation:leases commercial space in Newington, New Hampshire
Publication:Real Estate Weekly
Date:Jul 29, 1992
Words:141
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