News Column

BRIEF: Beach-based Wheeler's revenue more than doubles

August 15, 2014

By Dave Mayfield, The Virginian-Pilot



Aug. 15--Virginia Beach-based Wheeler Real Estate Investment Trust on Thursday reported a sharp increase in second-quarter revenue and a narrower operating loss.

Wheeler said its revenue more than doubled to $3.6 million in the latest quarter from $1.6 million a year earlier, as it added to its portfolio of shopping centers and other commercial properties. As of June 30, the company controlled 27 properties in 10 states with gross leasable space of about 1.6 million square feet. A year earlier, it had 12 properties in six states with gross leasable space of about 545,000 square feet.

The company's operating loss shrank to about $369,000 in the second quarter from $936,000 a year earlier.

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(c)2014 The Virginian-Pilot (Norfolk, Va.)

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Source: Virginian-Pilot (Norfolk, VA)


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