Winthrop Realty Increases Occupancy to 89% at Its Deer Valley Office and Medical Center Property
BOSTON, Aug. 10, 2011 (GLOBE NEWSWIRE) -- Winthrop Realty Trust (NYSE:FUR) announced today that it has executed a new 10-year lease for approximately 9,200 square feet of space at its Deer Valley Office and Medical Center located in Phoenix, Arizona. The space is expected to be occupied in January 2012. As a result of this lease, Deer Valley Office and Medical Center is 89% leased compared to 61% leased at Winthrop's acquisition on August 6, 2010.
In addition, Winthrop also announced that it has sold its vacant Knoxville, Tennessee property formerly leased to The Kroger Co. which had a carrying value of $2,209,000 at June 30, 2011 for a gross sales price of $2,300,000.
Winthrop Realty Trust, headquartered in Boston, Massachusetts, is a NYSE-listed real estate investment trust (REIT) focused on acquiring, owning, operating and investing in real property as well as real estate financial instruments including CMBS, Bonds, REIT Preferred and common stock. For more information, please visit our web-site at www.winthropreit.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995. With the exception of the historical information contained in this news release, the matters described herein contain "forward-looking" statements that involve risk and uncertainties that may individually or collectively impact the matters herein described. These are detailed from time to time in the "Risk Factors" section of the Company's SEC reports. Further information relating to the Company's financial position, results of operations, and investor information is contained in the Company's annual and quarterly reports filed with the SEC and available for download at its website www.winthropreit.comor at the SEC website www.sec.gov.
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