NORTHBROOK, Ill., March 10 /PRNewswire/ -- Bradley Real Estate, Inc.
(NYSE: BTR) today announced that it has completed the renewal of the 126,500-
square-foot Andersen Consulting lease at its One North State Street property,
which is located in the "Loop" area of downtown Chicago.  As the company
previously reported, the tenant had notified the company of its intention to
vacate the building upon lease expiration but subsequently has decided to
renew.  The renewal of the lease, which was scheduled to expire on March 31,
1998, is for a two-year period expiring March 31, 2000.  The company
negotiated a rental increase of approximately 9 percent over the prior rent.
One North State Street, as previously reported, is currently being marketed
for sale and is projected to be sold this year.
    The company also announced the purchase of two Midwest, grocery-anchored
community shopping centers for an aggregate purchase price of approximately
$11.3 million.  The company purchased:

    *  King's Plaza, a 106,000-square-foot, 84-percent occupied, community
       shopping center, located in Richmond, Indiana, anchored by a 48,000-
       square-foot County Market, a subsidiary of SuperValu, and a 10,000-
       square-foot Rite Aid Drug store;

    *  Sagamore Park Shopping Center, a 102,000-square-foot, 94-percent
       occupied, community shopping center, located in West Lafayette,
       Indiana, anchored by a 44,000-square-foot Payless Supermarket and a
       9,000-square-foot Revco Drug.

    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 55 properties located in 11 states aggregating 10.3 million
square feet of rentable space.  The company has paid 146 consecutive quarterly
dividends to its share owners.
    For further information on Bradley Real Estate, Inc. free of charge via
fax, simply dial 1-800-PRO-INFO and enter "BTR."

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