NORTHBROOK, Ill., April 15 /PRNewswire/ -- Bradley Real Estate, Inc.
(NYSE: BTR) today announced the acquisition of four community shopping centers
during the past month.  The properties, located in Wisconsin, Michigan and
Kentucky, total 656,000 square feet and were purchased at a total cost of
approximately $43 million.  The properties acquired include:

    --  Oak Creek Centre, a 91,000-square-foot center located in suburban
        Milwaukee, Wisconsin.  The center is 85-percent occupied and is
        anchored by a 50,000-square-foot Sentry SuperSaver and an 11,000-
        square-foot Walgreen's Drug

    --  Midtown Shopping Center, a 154,000-square-foot center located in
        Ashland, Kentucky.  The center is 100-percent occupied and is anchored
        by a 52,000-square-foot Kroger and a 10,000-square-foot Revco Drug

    --  The Courtyard, a 126,000-square-foot center located in Burton,
        Michigan.  The center is 88-percent occupied and is anchored by a
        44,000-square-foot V.G. Food Center, a 26,000-square-foot OfficeMax
        and a non-owned Home Depot

    --  Redford Plaza, a 285,000-square-foot center located in suburban
        Detroit, Michigan.  The center is 92-percent occupied and is anchored
        by a 60,000-square-foot Kroger, a 47,000-square-foot Burlington Coat
        Factory and a 28,000-square-foot Bally Total Fitness.  Other tenants
        include Blockbuster Video and Pier 1 Imports.

    Commenting on the acquisitions, Thomas D'Arcy, president and chief
executive officer, stated, "We are pleased with the progress of our
acquisition program, having invested $54 million year-to-date.  Our pipeline
remains strong, including approximately $80 million currently under contract
and numerous other assets in varying stages of negotiation.  Bradley's
infrastructure in our Midwest markets enables us to aggressively source and
assimilate assets with favorable initial yields and solid long-term growth
prospects, including properties located in new markets such as Ohio and
Michigan."
    Bradley Real Estate, Inc. is the nation's oldest real estate investment
trust (REIT) and a leading owner and operator of neighborhood and community
shopping centers located in the Midwest region of the United States.  The
company owns 59 properties aggregating 11 million square feet of rentable
space.  The company has paid 147 consecutive quarterly dividends to its
shareowners.

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