NORTHBROOK, Ill., July 9 /PRNewswire/ -- Bradley Real Estate, Inc.
(NYSE: BTR) today announced the acquisition of six community shopping centers.
The properties, located in Iowa and Illinois, aggregate 483,000 square feet
and were purchased at a total price of approximately $35 million.  The Company
expects to earn first-year return on the combined properties of approximately
10.5 percent.  The acquisitions include:

    * Sangamon Center North, a 140,000-square-foot, 97 percent-occupied
      center anchored by Schnuck's Grocery and Revco Drug located in
      Springfield, IL;

    * Fairhills Shopping Center, a 106,000-square-foot, 90 percent-
      occupied center anchored by Jewel Supermarket and Osco Drug located in
      Springfield, IL;

    * Parkway Pointe, a 39,000-square-foot, 100 percent-occupied center
      anchored by a non-owned Target and Walmart located in Springfield, IL;

    * Holiday Plaza, a 46,000-square-foot, 84 percent-occupied center
      anchored by a non-owned Aldi Supermarket located in Cedar Falls, Iowa;

    * Burlington Plaza, an 89,000-square-foot, 92 percent-occupied center
      anchored by Festival Foods (a subsidiary of Fleming Companies) located
      in Burlington, Iowa; and

    * Davenport Retail, a 63,000-square-foot, 100 percent-occupied center
      anchored by Staples, PETsMart and a non-owned Target Superstore located
      in Davenport, Iowa.

    Thomas D'Arcy, president and CEO commented, "These acquisitions are
consistent with our Midwest, grocery-anchored, community shopping center
strategy and provide continued momentum to our aggressive acquisition program.
Over the past six months, the Company has purchased 11 properties aggregating
approximately one million square feet at a total purchase price of $65 million
and an aggregate expected yield of 10.7 percent.  We continue to maintain a
very active acquisition pipeline with numerous transactions in varying stages
of negotiation and remain encouraged by the quality and volume of acquisition
opportunities we see in our target markets."
    The preceding information contains forward-looking statements of the
company's plans, objectives and expectations, which are dependent upon a
number of factors including no weakening in 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.
    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 41 properties in 12 states aggregating 8.3 million square feet.

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