(In thousands, except per share data)                                           FOR THE THREE MONTHS ENDED
                                                                                         MARCH 31,
                                                                              2004                        2003
                                                                    --------------------------    ----------------------
REVENUES
    Rents                                                           $                   3,291     $               3,445
    Sales                                                                               1,309                       726
    Interest and dividends                                                                254                       259
                                                                    --------------------------    ----------------------
                                                                                        4,854                     4,430
                                                                    --------------------------    ----------------------
EXPENSES
    Property operating                                                                  1,154                     1,181
    Cost of goods sold                                                                    934                     1,087
    Real estate taxes                                                                     219                       225
    Depreciation and amortization                                                         499                       535
    Interest                                                                              943                     1,272
    General and administrative                                                          1,310                     1,162
                                                                    --------------------------    ----------------------
                                                                                        5,059                     5,462
                                                                    --------------------------    ----------------------

NET LOSS BEFORE PREFERRED DIVIDENDS                                                      (205)                   (1,032)
    Preferred dividend                                                                   (516)                     (516)
                                                                    --------------------------    ----------------------
NET LOSS                                                                                 (721)                   (1,548)

OTHER COMPREHENSIVE INCOME
Unrealized gain on securities                                                             396                         -
                                                                    --------------------------    ----------------------
Comprehensive loss                                                  $                    (325)     $             (1,548)
                                                                    ==========================    ======================

PER SHARE DATA

BASIC AND DILUTED:
Net loss applicable to common shares of
beneficial interest                                                 $                   (0.02)     $              (0.04)
                                                                    ==========================    ======================

BASIC AND DILUTED WEIGHTED AVERAGE
COMMON SHARES                                                                          31,059                    34,814
                                                                    ==========================    ======================