Connecticut landlord Griffin Land & Nurseries Inc. said more tenants renting space in its Hartford area commercial properties helped narrow its fiscal fourth-quarter loss.
New York-based Griffin Land lost $545,000, or 11 cents a share, in the three months ended Nov. 27, down from the $1.3 million, or 25 cents a share, lost the comparable period in 2009.
Stepped up leasing at its New England Tradeport and industrial park properties in Windsor and East Granby drove fourth-quarter revenues up 10 percent, to $7.8 million from $7.1 million a year earlier.
Sales and losses for its wholesale-retail nursery operations were also smaller, the company said.
For the full year, Griffin lost $4.5 million, or 88 cents a share, smaller than the net loss of $5.5 million, or $1.09 a share, in fiscal 2009.
Twelve-month revenues were $35.6 million vs. $39.2 million a year earlier, largely because Griffin booked no major land sales last year.
In the fourth quarter, however, Griffin said it sold four of its last 25 housing lots in the Stratton Farms development in Suffield. Griffin said the unnamed buyer has a three-year option on the rest of the lots.
