NORTHBROOK, Ill., Jan. 8 /PRNewswire/ -- Bradley Real Estate, Inc.
(NYSE: BTR) today announced the purchase in December of five additional
community shopping center properties, aggregating 918,000 square feet in four
midwestern states.  During 1997, the company purchased 26 shopping centers,
aggregating 3.3 million square feet of gross leasable area, at a total price
of $198 million.  Additionally, in keeping with the company's objective to
dispose of non-core assets, the company closed the sale of its remaining New
England asset-585 Boylston Street located in Boston, Massachusetts and has
listed for sale One North State Street, a downtown Chicago office/retail
building.  The company also announced that it has entered into a new unsecured
revolving line of credit, lowering the rate and increasing Bradley's borrowing
capacity from $150 million to $200 million.

    Acquires Five, Grocery-Anchored, Midwest Community Shopping Centers
    In December 1997, the company acquired five properties, two in Wisconsin,
one in Iowa, one in South Dakota and one in Kansas.  Specifically, the company
purchased:
    Park Plaza, a 108,000-square-foot, 100-percent occupied, community
shopping center, located in Manitiwoc, Wisconsin, anchored by a 45,000 square-
foot Sentry Foods;
    Spring Mall, a 180,000-square-foot, 92-percent occupied, community
shopping center, located in Greenfield, Wisconsin, anchored by a
77,000-square-foot Pick N Save grocery store, a 33,000-square-foot TJ Maxx and
an 18,000-square-foot Walgreens;
    Southgate Shopping Center, a 163,000-square-foot, 93-percent occupied,
community shopping center, located in Des Moines, Iowa, anchored by a 78,000-
square-foot Hy-Vee grocery store and a 22,000-square-foot Walgreens;
    Baken Park, a 180,000-square-foot, 94-percent occupied, community shopping
center, located in Rapid City, South Dakota, anchored by a 44,000-square-foot
Nash Finch grocery store;
    Mid State Plaza, a 287,000-square-foot, 84-percent occupied, community
shopping center, located in Salina, Kansas, anchored by a 33,000-square-foot
Food 4 Less grocery store.

    Completes Sale of Remaining New England Asset
    On December 31, 1997, the company closed the sale of 585 Boylston Street,
a 22,000-square-foot, mixed-use, office/retail property located in Boston,
Massachusetts.  The property was sold for $5.8 million which resulted in a
gain of approximately $5 million.  This sale completes the divestiture of
Bradley's New England assets which is in keeping with the company's previously
announced plans.

    Lists One North State Street for Sale
    The company also announced that it has listed for sale, One North State
Street, a 680,000-square-foot, mixed-use property located on the corner of
State and Madison Streets in the "Loop" area of downtown Chicago, Illinois.
Approximately 75 percent of the building's gross leasable area is office space
and 25 percent is retail.  The office space is anchored by First National Bank
of Chicago and the retail portion is anchored by TJ Maxx and Filene's
Basement.  The property is being marketed for sale by LaSalle Partners.

    Finalizes New Revolving Line of Credit
    During December, the company finalized a new $200 million unsecured
revolving credit facility led by The First National Bank of Chicago and
BankBoston, N.A.  The term of the agreement is for three years and bears
interest at 100 basis points over LIBOR.  The line also incorporates a
competitive bid feature for up to $100 million of the facility.
    Bradley Real Estate, Inc. is the nation's oldest real estate investment
trust and a leading owner and operator of neighborhood and community shopping
centers located in the Midwest region of the United States.  The company
currently owns 53 properties in 11 states aggregating 10.1 million square
feet.  The company has paid 146 consecutive quarterly dividends.
    The preceding information contains forward-looking statements of the
company's plans, objectives and expectations, which are dependent upon a
number of factors including the strength of the Midwestern United States
retail climate and the continuing availability of retail center acquisitions.
Reference is made to the company's 1996 Form 10-K report, which includes a
discussion of certain other factors that could cause actual results to differ
materially from those in forward-looking statements.
    To receive additional information on Bradley Real Estate free of charge
via fax, dial 1-800-PRO-INFO and enter "BTR."

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