NORTHBROOK, Ill., May 26 /PRNewswire/ -- Bradley Real Estate, Inc.
(NYSE: BTR) today announced the acquisition of four community shopping centers
during the past two weeks.  The properties, located in Illinois and Kentucky,
aggregate 450,000 square feet and were purchased at a total cost of
approximately $37.4 million.  The properties acquired include:

    *  Butterfield Plaza, a 107,000-square-foot center located in
       Libertyville, Ill., a suburb of Chicago.  The center is 100-percent
       occupied and is anchored by Sunset Foods Supermarket.

    *  Plainview Center, a 144,000-square-foot center located in Louisville,
       Ky.  The center is 100-percent occupied and is anchored by Kroger
       Supermarket and Revco Drug.

    *  Camelot Center, a 151,000-square-foot center located in Louisville,
       Ky.  The center is 96-percent occupied and is anchored by Winn Dixie
       Supermarket and Walgreens.

    *  Dixie Plaza, a 48,000-square-foot center located in Louisville, Ky.
       The center is 100-percent occupied and is anchored by Winn Dixie
       Supermarket.

    Commenting on the acquisitions, Thomas D'Arcy, president and chief
executive officer, stated, "Despite the more competitive investment
environment, we continue to be successful in adding high quality assets to the
portfolio at attractive valuations.  With these latest acquisitions, we have
added Winn Dixie to our list of major grocery tenants as we continue to focus
on the dominant operators within their respective markets.  Year-to-date, we
have acquired 10 centers aggregating 1.3 million square feet for a total
purchase price of $92 million, placing us on target for our acquisition goal
of $200 million for the year."
    The preceding information contains forward-looking statements of the
company's plans, objectives and expectations, which are dependent upon a
number of factors including a stable retailing climate in the Midwestern
United States, the financial viability of the company's tenants and the
continuing availability of retail center acquisitions and development
opportunities in the Midwest on favorable terms.  Reference is made to the
discussions under the captions "Risk Factors" in the company's 1997 Form 10-K
report which includes a discussion of certain other factors which could cause
actual results to differ materially from those in forward-looking statements.
    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 62 properties located in 12 states aggregating 11.4 million
square feet of rentable space.  The company has paid 147 consecutive quarterly
dividends to its share owners.

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