NEW YORK CITY—Vornado Realty Trust said in anSEC filing Monday that it expects its shopping centerspinoff to begin trading on the New York Stock by nextmonth, subject to its registration statement being declaredeffective. To be known as Urban Edge Properties,the REIT would separate VNO's shopping center business from itscore office and street retail properties.

Totaling 14.9 million square feet, the UE portfolio consists of79 shopping centers, three malls and a warehouse park. While 71 ofthe spinoff's assets are located along the Boston-to-Washington-DCcorridor, there are also properties in California and PuertoRico.

Shareholders in VNO would receive one share of UE stock forevery two VNO shares in connection with the spinoff, according tothe SEC filing. The filing said that separating “a greatNortheastern shopping center business with strong growth prospects”from VNO's “unique world class Manhattan and Washington businesses”would create “two focused, pure-play REITs.”