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Keinow's Properties Filling Up

PORTLAND-A California retail REIT is on track to stabilize 10 Kienow's properties it acquired here in October 1998 despite the fall-out of a local independent grocer that had leased two of the locations.

By Brian K. Miller | Updated on August 04, 2000

Western Properties Trust CEO Bradley Blake last week blamed his company’s flat earnings on an increase in both interest rates and operating expenses, and the loss of an anchor tenant in two of the 10 Kienow’s properties it purchased in Portland in 1998.

Four of the properties are free-standing stores, six are multi-tenant shopping malls. Of twelve potential spaces for lease, nine have been committed to – three by QFCs already open, three by Walgreens, two by New Seasons and one by an as yet unnamed “national retailer.”

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