Abrams Announces Sale of Leaseback

Abrams Announces Sale of Leaseback 


ATLANTA, Oct. 5  /PRNewswire-FirstCall/ -- Abrams Industries, Inc.
(NASDAQ:ABRI), an energy services, facilities solutions and real estate
company, today announced that its Real Estate Segment has closed on the sale of
its leasehold interest in a shopping center in Minneapolis, Minnesota, for a
price of $2.25 million. The all-cash transaction generated a pre-tax gain on
sale of approximately $2.2 million.  The Company originally developed the
center in 1978, then sold it and leased it back from the fee owner under a
long-term agreement, and subleased the building entirely to Kmart Corporation.

Established in 1925, Abrams Industries, operating nationwide through its wholly
owned subsidiaries, offers a variety of energy services and facility solutions
to building owners and operators, and engages in commercial real estate
investment and development.  The Company provides energy engineering services,
maintenance and service request solutions, and turnkey implementation of energy
saving lighting programs and related energy services, which help its customer
base of owners and operators of commercial office, hospitality, retail,
institutional, industrial, residential, government, and health care buildings,
and energy services companies, optimize facility performance and maximize
value, by reducing energy consumption and maintenance costs and other building
operating costs, while improving occupant satisfaction.  The Company also
currently owns or controls approximately one million square feet of shopping
centers in the Midwest and Southeast and more than 200,000 square feet of
office properties in metropolitan Atlanta, Georgia.  For more information about
Abrams Industries, please visit http://www.abramsindustries.com/ or call
770-953-0304.

Certain statements contained in this news release are forward-looking
statements within the meaning of the federal securities laws.  Such forward-
looking statements involve known and unknown risks, uncertainties and other
matters which may cause the actual results, performance or achievements of
Abrams Industries, Inc. to be materially different from any past or future
results, performance, or uncertainties expressed or implied by such forward-
looking statements. Abrams Industries, Inc. does not undertake to update these
forward-looking statements. 

DATASOURCE: Abrams Industries, Inc.



CONTACT:  Alan R. Abrams, Co-Chairman, President & Chief Executive

Officer of Abrams Industries, Inc., [phone], or

 



Web site:  http://www.abramsindustries.com/ 

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