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The
Dealmakers Issue Number 25 for the week of July 21, 1995 Drug
Stores Looking To Expand Happy
Harry's Discount Drug operates 30 locations in DE, NJ and PA. The stores occupy spaces of 10,000 sq.ft. to
12,000 sq.ft. in strip centers. Preferred
anchors include supermarkets. Plans call for
three openings in the coming 18 months. Expansion
will take place in the existing markets. Preferred
demographics include a population of 30,000 within three miles. Leases running 10 years with options are typical. For more information, contact Ralph Larson, Happy
Harry's Discount Drug, 315 Ruther Drive, Newark, DE 19711; 302-366-0335, Fax 453-3180. Thrifty
Holdings, Inc. trades as Thrifty Drug and Payless Drug Stores at 1,100 locations in CA,
OR, WA, ID, MT, UT, AZ, AK and CO. The
stores occupy spaces of 18,000 sq.ft. to 20,000 sq.ft. in downtown store fronts,
freestanding facilities, specialty and strip centers.
Preferred anchors include home improvement stores, soft goods tenants and
supermarkets. Plans call for 30 openings in
the coming 18 months. Expansion will take
place in the existing markets. Preferred
demographics include a population of 20,000 within two miles earning $30,000 as the
average income. Leases running 20 years are
typical. For more information, contact James Gaube, Thrifty
Holdings, Inc., 9275 S.W. Peyton Road, Wilsonville, OR 97070; 503-682-4100. Gemmel
Pharmacy Group, Inc. does business as Gemmel Pharmacy at 14 locations in CA. The stores occupy spaces of 1,500 sq.ft. to 10,000
sq.ft. in downtown store fronts, freestanding facilities, specialty and strip centers. Growth opportunities are sought in the existing
market. Leases running five years with a
five-year option are typical. For more information, contact Bill Oberhauser,
Gemmel Pharmacy Group, Inc., 143 N. Euclid Avenue, Ontario, CA 91762; 909-984-7132, Fax
983-8469. The
Bartell Drug Company trades as Bartell Drugs at 40 locations in Western WA. The stores occupy spaces of 7,500 sq.ft. to 21,000
sq.ft. in downtown store fronts, freestanding facilities and strip centers. Plans call for up to three openings in the coming
18 months. Expansion will take place in the
existing market. For more information, contact Dave Graef, The
Bartell Drug Company, 4727 Denver Avenue South, Seattle, WA 98134; 206-763-2626, Fax
763-2062. Super
D Drugs, Inc. does business as Petty's, Ike's and Super D at 100 locations in TN, AR, MS,
MO, OK and WI. The stores occupy spaces of
1,800 sq.ft. to 12,000 sq.ft. in specialty and strip centers. Plans call for two openings in the coming 18
months. Expansion will take place in AR and
TN. For more information, contact Wayne Henley, Super
D Drugs, Inc., 4895 Outland Center Drive, Memphis, TN 38118-6517; 901-366-1144, Fax
367-3750. Medicap
Pharmacies, Inc. trades as Medicap Pharmacy at 120 locations nationwide. The stores occupy spaces of 1,000 sq.ft. to 1,200
sq.ft. in freestanding facilities, specialty and strip centers. Plans call for 25 openings in the coming 18
months. Expansion will take place nationwide. For more information, contact John Pittocelli,
Medicap Pharmacies, Inc., 4700 Westown Parkway #300, West Des Moines, IA 50266-6730;
515-224-8400, Fax 224-8415. Buyers
& Sellers of Commercial Properties Madison
Realty Group, Inc. has the listing to sell a 35,200 sq.ft. strip center in Athens, TN. The project is anchored by Food Lion which is
planning an expansion that will increase the center's overall GLA to 38,680 sq.ft. The center is 88.1% occupied and the projected
N.O.I. is $189,110. The asking price is $1.8
million. For details, contact Bryan E. Pivirotto at
(412-281-1880), Fax (281-5772). Trammell
Crow BTS, Inc. recently sold its 24,000 sq.ft. Office Max store at Evanston Plaza in
Evanston, IL to a Florida-based real estate investment trust. For details, contact Alex Dmyterko at
(708-285-2920). Soloff
Properties, Inc. and Merchant's Resource Realty, Inc. recently brokered the sale of seven
acres of land at Gunbarrel Crossing in Chattanooga, TN.
PetsMart, Inc. bought part of the site for a 25,496 sq.ft. building and Media Play
bought the remainder for a 46,669 sq.ft. building. For details, contact Beth Soloff at
(615-698-6980). Cambridge
Realty Capital Ltd. and The Polacheck Co. recently brokered the sale of the first phase of
Franklin Centre in Franklin, WI. The project
was sold to an Illinois limited partnership by a Wisconsin general partnership. The 95,110 sq.ft. center is anchored by a 72,000
sq.ft. Pick 'n Save supermarket as well as Fashion Bug, Great Clips, Subway and Mailboxes
Etc. For details, contact Jeffrey N. Frankel at
(312-943-1911). Re/Max
Pro-Formance has the listing to sell a 35,500 sq.ft. facility in Dayton, OH. The project can be expanded by 25% and is 94%
occupied. The 1995 projected NOI is $144,000. The asking price is $1.33 million and financing is
available. For details, contact Mike Johnson at
(800-837-0305), Fax (513-291-9393). Neal*Mannausa
brokered the sale of a 39,632 sq.ft. outparcel at the North River Interchange, adjacent to
the Gulf Coast Factory Shops, in Ellenton, FL. The
buyer was Stafford Foods of Florida and the seller was William W. Merrill, III as Trustee. The selling price was $375,000. For details, contact Burt Zupa at (813-365-1511),
Fax (365-0807). Flocke
& Avoyer brokered the sale of Lomas Santa Fe Plaza shopping center in Solana Beach,
CA. The project is anchored by Vons,
Discovery Zone, Ross Dress for Less and Blockbuster Video.
The site was purchased by Pacific Solana Beach Holdings from The Lomas Santa Fe
Group. For details, contact Steve Avoyer at
(619-280-2600), Fax (280-3311). Oxford
Real Estate has the listing to sell 6.6 acres of land zoned commercial in Orange, CT. The site is surrounded by many national anchors. The asking price is $2.7 million. The company has the listing to sell 32 acres of
land in Hammonton, NJ. The site has over
1,000 feet of frontage on Route 30 and is less than one-quarter mile from a Wal*Mart and
Superfresh Supermarket-anchored 155,000 sq.ft. power center. The asking price is $4 million. The company also has the listing to sell Arrow
Mill Plaza in Clinton, NJ. The project is
anchored by ShopRite Supermarket which is currently doing over $700 per sq.ft. in sales. The asking price is $6 million. For details, contact Michael Berke at
(203-222-3939), Fax (222-3944). Ray
Wilkerson Co. has the listing to sell 3.63 acres of land in Austin, TX. The site is located at the southwest corner of US
183 and FM 620 near a 1.1 million sq.ft. mall opening in October. The asking price is $2.536 million. For details, contact Jim Spence at (512-458-5993),
Fax (458-1648). Divaris
Real Estate brokered the sale of a 1.45 acre site at Battlefield Center in Chesapeake, VA. The buyer was Chick-Fil-A, Inc. who plans to build
a freestanding restaurant. The project is
anchored by Wal*Mart, Home Quarters Warehouse and Sam's Club. For more information, contact John Knibb at
(804-497-2113). The
Nova Group has the listing to sell pad sites from 20,000 sq.ft. at the southwest corner of
Highway 123 and Highway 466 in Seguin, TX. The
sites are located across from Super Wal*Mart. The
asking price is $5 psf. The company has the
listing to sell pads from 20,000 sq.ft. at the northeast corner of IH-35 and Walnut Avenue
in New Braunfels, TX. The site is located
near Super Wal*Mart, Target, HEB Supermarket, McDonald's and an Exxon gas station. The asking prices range from $6 psf to $8 psf. The company has the listing to sell pad sites from
20,000 sq.ft. at the southeast corner of US 281 and Encino Rio in San Antonio, TX. The site is located one-third of a mile from
Albertson's Food & Drug store. The asking
price is $6 psf. The company has the listing
to sell three pad sites at the southeast corner of Loop 1604 and Nacogdoches Road in San
Antonio, TX. The site is located near
Wal*Mart, Wendy's, Rolling Oaks Mall, Exxon, Burger King and Target. Pad A is 40,986 sq.ft. and has an asking price of
$266,409; Pad B is 21,978 sq.ft. and has an asking price of $175,824; and Pad C is 37,446
sq.ft. and has an asking price of $374,460. The
asking price for the three pads combined is $750,000.
The company has the listing to sell pad sites from 20,000 sq.ft. at the southwest
corner of IH-37 and Hot Wells Boulevard in San Antonio, TX.
The site is located near IHOP and is three-quarters of a mile away from McCreeless
Mall. The asking price is $6 psf. The company also has the listing to sell Marbach
Square Shopping Center in San Antonio, TX. The
50,150 sq.ft. project is anchored by Thrift Junction and Pancho's Mexican Buffet and is
located adjacent to Blockbuster Video, HEB Supermarket and Westlakes Mall. The site is 100% occupied and has an NOI of
$315,416. The asking price is $2.6 million. For details, contact Kevin Spruill at
(210-308-6682), Fax (366-3937). Venti
Properties has the listing to sell a 100% occupied, 110,000 sq.ft. shopping center in
Bullhead City, AZ. The project is anchored by
Safeway Market, Checkers Auto, Factory To U and Ben Franklin. For details, contact Tony Mariaci at
(800-289-2896) or Tony Venti at (818-282-6121), Fax (282-3047). Lee
& Associates Commercial Real Estate Services represented Smith's Food & Drug in
its $4.7 million purchase of an 8.62 acre site in Simi Valley, CA. The company plans to construct a 60,000 sq.ft.
store at the site. For details, contact Randy Verdieck at
(714-647-9100). Mergers
& Acquisitions Video
Update, Inc. (612-222-0006) signed a letter of intent to acquire the assets of Tops N
Video, a three-unit chain in Phoenix, AZ. Video
Update currently operates 81 video stores. Ace
Cash Express, Inc. (214-550-5000) recently purchased the two-unit chain Almost A Banc,
Inc. of Charlotte, NC. Ace Cash Express
currently operates 410 stores in 14 states. Manhattan
Bagel Co. (908-544-0155) plans to acquire Bay Area Bagel, Inc., operator of eight Holey
Bagel stores in the San Francisco, CA market. The
acquisition will give Manhattan Bagel Co. 115 stores nationwide with another 89 under
development. Dillard's
(501-376-5200) recently purchased two department stores in Columbia, SC from Belk's Store
Services, Inc. Dillard's currently operates
232 stores in 22 states. The
Yucaipa Companies (310-789-7200) affiliate Food 4 Less Supermarkets, Inc. and Ralphs
Supermarkets, Inc. (310-884-4000) recently completed their merger into the new company
known as Ralphs Grocery Company. The
combined company will operate 338 stores in Southern CA, 25 in Northern CA and 38 in the
Midwest. Both companies will change the name
of their stores. E-Z
Serve Corporation (713-684-4304) has entered into an agreement to purchase the
205-convenience store chain of Sunshine Jr. Stores, Inc. for $20.4 million. E-Z Serve Corp. currently operates 544 convenience
stores and franchises another 14 units in 20 states. Wickes
Lumber Company (708-367-3400) recently purchased the assets of Caro Building Center, a
one-store company in Caro, MI. Wickes
currently operates 129 building centers in 24 states. Rite
Aid Corp. (717-761-2633) recently entered into a definitive agreement to purchase 30
freestanding drug stores in the metropolitan New York City area from Pathmark Stores, Inc. Pathmark Stores plans to use the proceeds to
retire a portion a its debt. The deal is
expected to close next month. Woodward
& Lothrop (703-329-5000), parent company of Woodies and John Wanamaker department
stores, recently agreed to sell the chain to four companies. The company has been operating under Chapter 11
since January 1994. The purchasers include
Federated Department Stores, which will acquire 11 Woodies stores in MD and VA as well as
a John Wanamaker store in Philadelphia, PA. All
of the stores are expected to be converted to Macy's stores. Strawbridge & Clothier will acquire six John
Wanamaker stores in Wynnewood, Harrisburg and Lehigh County, PA as well as the stores at
the Montgomeryville Mall in Montgomeryville, PA, Oxford Valley Mall in Langhorne, PA and
Deptford Mall in Deptford, NJ. These stores
will be renamed Strawbridge & Clothier. Boscov
Department Stores, Inc. will acquire two John Wanamaker stores at the King of Prussia Mall
in King of Prussia, PA and at the Berkshire Mall in Reading, PA. These stores are expected to be renamed Boscov's. The fourth purchaser, The Rubin Organization, a PA
developer, will acquire the leases of the John Wanamaker stores in Northeast Philadelphia
and Jenkintown, PA as well as the stores at the Springfield Mall in Springfield, PA,
Moorestown Mall in Moorestown, NJ and Christiana Mall in Wilmington, DE. The company plans to seek other retailers to
operate these stores. The deal, which
requires bankruptcy court approval, is expected to close next month. Financial
News... Warehouse
Auto Centers, Inc. (716-424-4500), a two-store warehouse format auto parts chain, was
recently forced into involuntary Chapter 11 proceedings by a petition filed on behalf of
four creditors of the company. The company
had been negotiating with its creditors, but was unable to reach an agreement. Bradlees,
Inc. (617-380-5863) recently filed Chapter 11 and secured a $250 million line of credit
from Chemical Bank for its debtor-in-possession financing.
The company plans to operate "business as usual" while working on its
reorganization plan. In its Chapter 11
petition, the company listed assets of $884.8 million and liabilities of $721.4 million
with the company's largest unsecured creditors being Bankers Trust and Stop & Shop. The company also reported that its net loss for
the first quarter was $30.8 million compared to a net loss of $8.9 million last year. Comparable stores sales fell 5.5%, but sales
increased to $486.3 million from $462.8 million last year.
The company currently operates 136 discount stores in ME, NH, MA, CT, NY, NJ, RI,
PA and VA. Bed
Bath & Beyond, Inc. (201-379-1520) reported that net earnings for its first quarter
increased 22.5% to $5.7 million compared to $4.6 million last year. First quarter net sales increased 32.1% to $113.5
million from $85.9 million last year. The
company operates 63 stores in 16 states. Stuarts
Department Stores, Inc. (508-520-4540) recently announced that its Board of Directors has
approved the liquidation or sale of the company. The
decision came after the company posted poor sales and operating results during the
Father's Day selling period. Brauns
Fashions Corp. (612-828-8223) reported that its first quarter sales were down 3.8% to
$21.967 million from $22.843 million last year and that the company posted a net loss for
the first quarter of $659,000 compared to net income of $379,000 last year. Comparable store sales were down 13.6% over last
year's results. The company opened one store
during the quarter and currently operates 225 women's apparel stores in 22 states. Oshman's
Sporting Goods (818-865-2425) reported a 5.1% first quarter comparable store gain and a
17.6% quarterly comp-store gain in its SuperSports USA division. The company operates 134 stores, including 13
SuperSports USA megastores, in 15 states. Drug
Emporium (614-548-7080) reported that its net income for the first quarter was $489,000,
up from $269,000 last year. Net sales for the
quarter fell to $165.1 million from $188.7 million last year. The company currently operates 115 company-owned
drug stores and franchises another 96 stores. Fretter,
Inc. (810-220-5178) reported that its first quarter sales decreased 8.6% to $166 million
and that the company posted a net loss of $4.35 million compared to a net loss of $4.133
million last year. Comparable store sales for
the quarter decreased 9.4%. During the
quarter the company closed two stores. The
company, which sells consumer electronics, home entertainment products and appliances,
currently operates 241 stores under the tradenames Fretter, Fred Schmid Appliance & TV
Co., Dash Concepts, Silo and YES! in 22 states. Dart
Group Corporation (301-731-1530) reported that its first quarter net income was $913,000
compared to $1.097 million last year. Revenues
for the quarter were $152.83 million. Trak
Auto's first quarter net income was $1.116 million compared to $2.53 million last year. Sales decreased 9.9% to $79.61 million from
$88.387 million last year. Comparable store
sales at Super Trak stores decreased 6.7% and 9% at other Trak Auto Stores. Crown Book reported a first quarter net loss of
$384,000 compared to net income of $415,000 last year.
First quarter sales decreased 7% to $61 million from $65.642 million last year. Comparable store sales fell 3.5%. Dart owns 51% of Crown Books, 68% of Trak Auto,
50% of Shoppers Food Warehouse and 100% of Total Beverage.
The company's divisions operate a total of 519 locations in Washington, D.C., TX,
IL, WA, CA and VA. Best
Buy Co., Inc. (612-947-2000) reported that its first quarter earnings were $4.672 million,
compared to $4.241 million last year. First
quarter sales increased 50% to $1.275 billion from $849 million last year, operating
income increased 40% and comparable stores sales increased 6%. During the quarter the company opened nine stores
and is planning to open 10 more during its second quarter.
The company currently operates 213 stores in 27 states. Exclusives:
Leasing & Management Assignments Metro
Commercial Real Estate, Inc. (609-866-1900) has been appointed the exclusive leasing agent
for the new Ocean Center, a 200,000 sq.ft. project to be built in Toms River, NJ. The site will be anchored by a 55,000 sq.ft.
A&P Supermarket. Construction is
expected to begin Spring 1996 and be completed by Spring 1997. Neal
Realty & Investments, Inc. (305-568-0530) has been appointed the exclusive marketer
for the following projects: Lauderdale Marketplace I, a 16,800 sq.ft. site in Lauderdale
Lakes, FL; Lauderdale Marketplace II, a 260,725 sq.ft. site in Lauderdale Lakes, FL; McNab
7 Plaza, a 38,700 sq.ft. site in North Lauderdale, FL and 2450 Wilton Manors Drive, an
8,300 sq.ft. retail building in Wilton Manors, FL. Additionally,
the company the exclusive for the following companies: Interstate Brands, Inc., which is
looking for 2,000 sq.ft. spaces on the east coast of Florida for thrift outlets of Holsum
Bakery in addition to seeking 7,000 sq.ft. of space on the east coast of Florida for Dolly
Madison thrift outlets; Furniture Dealer, which is seeking 15,000 sq.ft. to 20,000 sq.ft.
of space in FL and Rollo Pollo Rotisserie Chicken, which is seeking spaces of 1,000 sq.ft.
to 5,000 sq.ft. Scotmar
Property Associates, Inc. (610-825-7494) has been appointed the exclusive leasing agent of
three shopping centers owned by Vesterra Corporation.
The sites include the 92,000 sq.ft. Mercer Square in Doylestown, PA which is
anchored by Genuardi's Supermarket and Blockbuster Video; the 130,000 sq.ft. New Britain
Village Square in Chalfont, PA which is anchored by Genuardi's Supermarket, Mandee's and
McDonald's and the 130,000 sq.ft. Towamincin Shopping Village in Lansdale, PA which is
anchored by Genuardi's Supermarket, Sears Paint & Hardware, Thrift Drug, Boston
Chicken, Wendy's and Blockbuster Video. Rubin
Strouse Retail (215-875-0700), a division of The Rubin Organization, has been appointed to
manage and lease Timberline Plaza Shopping Center in Mantua, NJ. The 100,000 sq.ft. project is anchored by
Thriftway Supermarket and Thrift Drug. Who's
Opening and Where... Bagel
Bakery (408-372-1715) is planning to open a store in Monterey, CA this year. The company currently operates five units in CA. Arby's
Canada (800-305-2729) recently opened its second Roast Town Restaurant. The new unit is located in Cambridge, Ontario. Gander
Mountain, Inc. (414-862-2344) recently opened an outdoor sporting goods store in Taylor,
MI. The company currently operates 15 stores
in MI, WI, MN and IN. Little
John Rinaldi's Pizza (216-765-8080) plans to open its first pizza restaurant in Lakewood,
OH next month. A second unit is planned for
Cleveland, OH later this year. Kohl's
Corp. (414-783-5800) is building 80,000 sq.ft. stores in Macedonia, Medina, Mentor, Parma,
Jackson Township, Youngstown and Mansfield, OH. The
company currently operates 109 stores in 10 Midwestern states. Hollywood
Entertainment Corporation (503-677-1600) recently announced that it has increased its
expected store opening count for both 1995 and 1996.
In 1995 the company plans to open 110 stores, up from a projected 78 stores and in
1996 the company is looking to open 200 stores. The
company currently operates 153 video stores in 11 states. Jay
Jacobs (206-622-5400) recently converted three of its Fashion Direction stores into an
off-price concept called dd sloane. During
the next year the company plans to convert all 28 of its Fashion Direction stores into dd
sloane concepts. Overall, the company
operates 168 apparel stores located primarily in the Western and Northwestern states. Edwards
Super Food Stores (203-627-4099) recently opened eight supermarkets in Clinton, CT;
Seekonk and Fairhaven, MA and Newport, Cranston, East Greenwich, Richmond and Wakefield,
RI. The company currently operates 77 stores
in CT, MA, NY and RI. Home
Depot (404-433-8211) recently opened a 24-hour store in Flushing, NY. Bodean
Seafood Restaurant and Fish Market (918-749-1407) plans to open a store in Oklahoma City
this month and is looking for a second Tulsa, OK location as well. Men's
Wearhouse (510-657-9821) plans to open two stores in downtown Chicago during the summer. Fresh
Fields Markets (301-984-4874) recently opened stores in Greenwich, CT; Wynnewood, PA and
Millburn, NJ. The company is planning to open
stores in Gaithersburg, MD; Reston, VA; Manhasset, NY; Washington, D.C.; Baltimore, MD and
Northbrook, IL. A
Popeye's Chicken (210-737-5837) franchisee is planning to open units inside three Kroger
supermarkets in Macon, GA during the fall. Books
A Million (205-942-3737) plans to open its second Tallahassee, FL store during October. Mecklenburg
Trading Co. (704-373-1475) recently opened a City Cotton apparel store at Love's Plaza in
Rock Hill, SC. The company operates three
other stores in NC. Ulta
Cosmetic Savings Store (708-739-8598) recently opened four stores in the Phoenix, AZ
market and is planning to open a fifth this month. The
company currently operates 30 cosmetics stores in IL, MN and TX. Vons
Supermarket (818-821-7050) recently opened a store in Long Beach, CA. Hudson's
(810-443-6263), a division of Dayton-Hudson, plans to open department stores at Troy's
Somerset Collection North in Troy, MI and at Birchwood Mall in St. Clair County, MI. The first store is slated to open in 1996 and the
second during fall 1997. Pier 1
Imports (817-878-8000) plans to open up to 55 Pier 1 stores and eight The Market stores
during its current fiscal year. Heilig-Meyers
(804-359-9171) plans to open up to 65 furniture stores this year and another 100 stores
during 1996. States targeted for growth
include TX, OK, AR and LA. Furr's
Supermarkets (505-344-6525) plans to open supermarkets in Albuquerque, NM and El Paso, TX. The company currently operates 73 units in NM and
TX. The
Pet Food Giant (908-418-1141) plans to open two pet stores, one in Broomall and one in
Philadelphia, PA, by the end of this month. The
company currently operates eight stores in PA, NJ and NY. D.I.Y.
Home Warehouse, Inc. (216-328-5100) recently began construction on its Ashtabula, OH
store. The 100,000 sq.ft. store is expected
to open during the fourth quarter and is the company's 16th unit. Austins
Steaks & Saloon, Inc. (402-498-9191) plans to open restaurants in Scottsdale, AZ;
Albuquerque, NM and Omaha, NE during September. The
company currently operates seven units in NE, MO and NM. Wicks
'n' Sticks (713-874-0800) plans to open 20 stores this year and another 30 stores in 1996. All of the new openings will feature the company's
updated store deign and product presentation. Lead
Sheet American
Eagle Outfitters, Inc. dba
American Eagle Outfitters Bill
Matsro 150
Thorn Hill Drive Warrendale,
PA 15095 412-776-4857,
Fax 776-6160 Apparel The
273-unit chain operates locations nationwide. The
men's and women's apparel stores occupy spaces of 4,200 sq.ft. in regional malls and
outlet centers. Plans call for 40 openings in
the coming 18 months. Expansion will take
place nationwide. M.J.D.
Investments, Inc. dba
M.J. Designs Mike
Nuzum 9015
Sterling Street Irving,
TX 75063 214-929-8595,
Fax 929-8283 Arts
& Crafts The
44-unit chain operates locations in TX, NY, VA, MD, NC and GA. The stores occupy spaces of 35,000 sq.ft. in power
centers. Plans call for 18 openings in the
coming 18 months. Expansion will take place
in the existing markets. Preferred
demographics include a population of 150,000 within three miles earning $38,000 as the
average income. Leases running 10 years are
typical. Ziebart dba
Ziebart Tidy Car Dick
Fogo 1290
East Maple Road Troy,
MI 48007-1290 810-588-4100,
Fax 588-1444 Automotive The
700-unit chain operates locations worldwide. The
automotive stores, offering accessories and detailing, occupy spaces of 2,500 sq.ft. to
4,000 sq.ft. in freestanding facilities. Plans
call for 25 openings in the coming 18 months. Expansion
will take place throughout North America. Leases
running five years with two five-year options are typical. Bookland,
Inc. Mark
Lando 1135
S. Edgar Street York,
PA 17403 717-842-0179,
Fax 843-3129 Books The
one-unit chain operates its location in PA. The
book store occupies a 5,000 sq.ft. space in a strip center.
Growth opportunities are sought in South Central PA, MD and WV. Carousel
Systems dba
The Goddard School Brian
Breslin 20
Creek Road Glen
Mills, PA 19342 610-558-3700,
Fax 558-1550 Child
Care The
17-unit chain operates locations in PA, NJ, DE and OH.
The day care and learning centers occupy spaces of 6,200 sq.ft. in freestanding
facilities. Plans call for eight openings in
the coming 18 months. Expansion will take
place in NJ and PA. The company prefers to
build its locations. A&W
One Stop, Inc. dba
One Stop Food Stores Robert
Arey 1906
E. Dixon Boulevard Shelby,
NC 28150 704-482-1446,
Fax 481-0645 Convenience
Store The
15-unit chain operates locations in NC and SC. The
stores, which also sell gasoline, occupy spaces of 800 sq.ft. to 2,500 sq.ft. in
freestanding facilities. Plans call for two
openings in the coming 18 months. Expansion
will take place in the existing markets. Sav-Way
Food Stores Cecil
Little 5812 C
Highpoint Road Greensboro,
NC 27407 910-852-6016,
Fax 852-8710 Convenience
Store The
five-unit chain operates locations in NC. The
stores occupy spaces of 2,576 sq.ft. in freestanding facilities and strip centers. Plans call for five openings in the coming 18
months. Expansion will take place in the
existing market. The company prefers to own
its sites. Ames
Department Store dba
Ames John
Hlis 2418
Main Street Rocky
Hill, CT 06067 203-257-2598,
Fax 257-5160 Department
Store The
305-unit chain operates locations in 14 Northeastern states. The stores occupy spaces of 65,000 sq.ft. in
regional malls. Growth opportunities are
sought in the existing markets. Tri-North
Department Stores, Inc. dba
The Hub Clothing Stores Steve
Steinberg 5000
First Avenue South Seattle,
WA 98134 206-767-7600,
Fax 767-2923 Department
Store The
25-unit chain operates locations in WA, OR, ID, AK, MT and NV. The stores occupy spaces of 20,000 sq.ft. to
25,000 sq.ft. in strip centers. Preferred
anchors include supermarkets and drug stores. Plans
call for up to three openings in the coming 18 months.
Expansion will take place in the existing markets.
Preferred demographics include a population of 20,000 to 50,000 within 10 miles. Leases running 10 years with options are typical. Almacenes
Mocega & Rijos, Inc. dba
Almacenes Mocega & Rijos Jose
Cordera 101 De
Diego Rio
Piedras, PR 00926 809-758-1616,
Fax 758-2847 Discount The
eight-unit chain operates locations in Puerto Rico. The stores occupy spaces of 30,000
sq.ft. in regional malls and strip centers. Growth
opportunities are sought in the existing market. Leases
running 15 to 20 years are typical. Building
#19, Inc. dba
Building #19 Lee
MacDonald 19
Shipyard Drive Hingham,
MA 02043 617-749-6900,
Fax 749-3691 Discount The
13-unit chain operates locations in MA, NH and RI. The
stores, selling surplus and salvage merchandise, occupy spaces of 60,000 sq.ft. in
freestanding facilities. Plans call for two
openings in the coming 18 months. Expansion
will take place in the existing markets. American
Multi-Cinema dba
AMC Chuck
Stilley PO Box
419615 Kansas
City, MO 64140-6615 816-221-4000,
Fax 221-1142 Entertainment The
240-unit chain operates locations nationwide. The
movie theaters, which operate 1,650 screens, occupy spaces of 30,000 sq.ft. to 60,000
sq.ft. in freestanding facilities, regional malls and strip centers. Plans call for the addition of 200 screens
nationwide. Preferred demographics include a
population of 500,000 within five miles. Leases
running 20 years are typical. Just
For Fun, Inc. Marc
A. Kahan 1901
Raymond Drive/ Suite 7 Northbrook,
IL 60062-6739 708-559-8606 Entertainment The
12-unit chain operates locations in MI, IL, TX, LA and FL.
The entertainment centers occupy spaces of 5,000 sq.ft. in regional malls. Preferred anchors include Lord & Taylor and
movie theaters. Plans call for three openings
in the coming 18 months. Expansion will take
place in the Midwest, TX and LA. Preferred
demographics include a population of 200,000 within 10 miles earning $30,000 as the
average income. Leases running 10 years are
typical. Bob
Evans Farms, Inc. dba
Bob Evans, Owens, Cantina
Del Rio Stephen
Warehime 3776
S. High Street Columbus,
OH 43207 614-491-2225,
Fax 492-4990 Food The
356-unit chain operates locations in OH, IN, MI, PA, KY, WV, VA, FL, TN, NY, NJ, IL, IA,
TX and MO. The family-style restaurants
occupy spaces of 6,000 sq.ft. to 10,000 sq.ft. in freestanding facilities. Preferred anchors include Kmart and Wal*Mart. Plans call for at least 60 openings in the coming
18 months. Expansion will take place in MI,
PA, NY, NJ, VA, WV, OH, IN, KY, FL, TN and IL. Preferred
demographics include a population of 50,000 within five miles earning $30,000 as the
average income. Leases running 20 years with
three five-year options are typical. Love's
Group dba
Love's Yogurt and Salads Marsha
Silve 1830
Techny Court Northbrook,
IL 60062 708-480-9200,
Fax 480-0280 Food The
seven-unit chain operates locations in IL. The
fast food restaurants occupy spaces of 1,900 sq.ft. in regional malls, power and strip
centers. Plans call for five openings in the
coming 18 months. Expansion will take place
in the existing market. Leases running five
years are typical. The company is
franchising. New
World Coffee Bob
Steinberg c/o
First Development Corp. 1328
Motor Parkway Hauppauge,NY
11778 516-234-3200,
Fax 234-3695 Food The
26-unit chain operates locations in NY, NJ, MA, CT and PA.
The stores, selling specialty coffee and related items, occupy spaces of 800 sq.ft.
to 2,500 sq.ft. in downtown stores fronts, freestanding facilities, regional malls, power,
specialty and strip centers. Preferred
anchors include theme restaurants, department stores and active downtown areas. Plans call for 75 openings in the coming 18
months. Expansion will take place in NY, NJ,
MA, CT, MD, VA, IL and Washington, D.C. Preferred
demographics include a population of 100,000 within three miles earning $50,000 as the
average income. Leases running 10 years are
typical. G.N.C. Ben
Rifkin 921
Penn Avenue Pittsburgh,
PA 15222 412-288-4775,
Fax 338-8817 Health The
2,288-unit chain operates locations nationwide. The
stores, selling vitamins and sports nutrition items, occupy spaces of 1,500 sq.ft. in a
variety of real estate settings. Plans call
for more than 400 openings in the coming 18 months. Expansion
will take place nationwide. Leases running at
least 10 years are typical. The company is
franchising. Aropi,
Inc. dba
Rolling Pin Gourmet, Kitchen Emporium Victoria
Childers c/o
Venture Development Corp. 233
West 47th Street Kansas
City, MO 64112 816-531-8898,
Fax 531-8818 Housewares The
38-unit chain operates locations in GA, FL, TN, AL, LA, VA, KY, OH, AR, IA, AZ, NC, SC and
PA. The stores, selling kitchen and cooking
utensils as well as books, novelties and accessories, occupy spaces of 1,600 sq.ft. to
2,000 sq.ft. in regional malls. Plans call
for up to four openings in the coming 18 months. Expansion
will take place in the existing markets. Leases
running seven to 10 years are typical. The
company is franchising. Alpha
Graphics Tom
Camplese 3760
Commerce Drive/ Suite 100 Tucson,
AZ 85705 602-293-9200,
Fax 887-2850 Specialty The
240-unit chain operates locations nationwide. The
stores, offering copying, printing and desktop publishing services, occupy spaces of 2,000
sq.ft. to 2,200 sq.ft. in regional malls, outlet and strip centers. Growth opportunities are sought nationwide. Brendamour's
Sporting Goods, Inc. dba
Brendamour's Sporting Goods John
Hostetler 4831
Spring Grove Avenue Cincinnati,
OH 45232 513-542-5820,
Fax 542-6003 Sporting
Goods The
22-unit chain operates locations in IN, KY and OH. The
stores occupy spaces of 6,000 sq.ft. to 12,000 sq.ft. in regional malls. Plans call for two openings in the coming 18
months. Expansion will take place in Northern
OH and KY. Nob
Hill General Store, Inc. dba
Nob Hill General Store Jim
Oterei 200 E.
10th Street Gilroy,
CA 95020 408-842-6441,
Fax 842-3546 Supermarket The
25-unit chain operates locations in CA. The
stores occupy spaces of 31,000 sq.ft. to 40,000 sq.ft. in strip centers. Plans call for two openings in the coming 18
months. Expansion will take place in the
existing market. Stater
Bros. Markets Walter
Ford PO Box
150 Colton,
CA 92324 909-783-5002,
Fax 783-5165 Supermarket The
110-unit chain operates locations in CA. The
stores occupy spaces of 41,000 sq.ft. in neighborhood shopping centers. Preferred anchors include drug stores. Plans call for five openings in the coming 18
months. Expansion will take place in Southern
CA. Preferred demographics include a trade
area population of 20,000. Leases running 20
years are typical and the company prefers build-to-suit deals. ABC
Variety Store Corp. dba
ABC Variety Stores Jack
Sasson 5808
Myrtle Avenue Ridgewood,
NY 11385 718-497-5450,
Fax 497-5612 Variety The
nine-unit chain operates locations in NJ and NY. The
stores, selling men's, women's and children's apparel as well as bed, bath and general
merchandise items at discount prices, occupy spaces of 10,000 sq.ft. in freestanding
facilities and strip centers. Growth
opportunities are sought in the existing markets. Conversions
& Expansions Kranzco
Realty Trust recently began a renovation and expansion program at its Collegetown Shopping
Center in Glassboro, NJ. Acme Supermarket
plans to modernize its store and increase its size from 35,500 sq.ft. to 52,000 sq.ft. and
Pep Boys plans to open a 19,760 sq.ft. store. Kranzco
also plans to construct a 2,800 sq.ft. pad site for a Payless ShoeSource store. Also located at the project is a 106,000 sq.ft.
Kmart. Renovations are expected to be
completed by November. For more information, contact Kranzco at
(610-941-9292). First
National Development, Ltd. recently broke ground on phase III at Bradley Square Shopping
Center in Bradley, IL. Phase III of the
project will be anchored by Lowe's Home Improvement in 135,000 sq.ft. as well as Shoe
Carnival, Pet Care Super Store, Boston Markets, Applebee's and Trak Auto. The project is expected to be completed during
Fall. When construction is completed the
center will total more than 650,000 sq.ft. Other
anchors of the project include Super Kmart in 190,000 sq.ft. and Wal*Mart in 114,000
sq.ft. For more information, contact Peter Dellaportas of
First National Development, Ltd. at (312-527-9800), Fax (527-4664). Tandy
Corp. recently began redevelopment of the retail areas of Tandy Center in Fort Worth, TX. The project, to be renamed Fort Worth Outlet
Square, will have 240,000 sq.ft. of outlet tenants and restaurants when it reopens during
summer 1996. The original project was built
in 1978 and its anchor, Dillard's, has been closed since 1991. In addition to the retail area, Tandy Center holds
the corporate offices of Tandy Corp., parent company of Radio Shack, Computer City and
Incredible Universe stores. For more information, contact Tandy Corp. at
(817-390-3011). DeBartolo
Realty Corporation and Cressy Associates, owners of the 864,332 sq.ft. University Park
Mall in South Bend, IN recent began a multi-million dollar expansion and renovation of the
project. Renovations will include a
modernization of the mall's interior and exterior and the addition of a food court. Expansion of the L.S. Ayres store by 33,000 sq.ft.
to 145,000 sq.ft. is also planned. New stores
planned for the project include Eddie Bauer, The Gap/Gap Kids/Baby Gap, Papyrus and Petite
Sophisticate. The mall is anchored by
Hudson's, JC Penney and Sears. For more information, contact Robert Ferguson of
DeBartolo Properties Management at (216-758-7292). Tanger
Factory Outlet Centers, Inc. recently broke ground for expansion at two of its projects. The first expansion is taking place at Tanger
Outlet Center at Millstream in Lancaster, PA and includes a 12,800 sq.ft. addition to the
project. Joining the 51 other stores will be
Ruff Hewn and Cambridge Dry Goods. Completion
is expected during October. The second
expansion project is taking place at Tanger Factory Outlet Center in Terrell, TX. The 51,250 sq.ft. addition will house 12 outlet
stores when it is completed during the fourth quarter.
Phase I of the project houses 30 manufacturers' outlet stores. For more information, contact Robyn Went of Tanger
Factory Outlet Centers at (910-274-1666). Real
Estate Professionals Making News Baita
International, Inc. (404-636-6778) announces the appointment of Sue Hensley as Vice
President and Director of Business Development for its subsidiary, Baita Property
Services, Inc. The
Mills Corporation (202-965-3600) recently promoted James F. Dausch to Senior Executive
Vice President of Development; Harry H. Nick to Senior Executive Vice President for
Strategic Planning and Acquisitions; Judith S. Berson to Senior Vice President Specialty
Leasing and Barry Young to Senior Vice President Specialty Leasing. Edward
F. Page, vice president and principal of Boyd, Page & Associates (713-877-8400) has
been named president of Chain Links, a national network of retail real estate
professionals. Hick
& Rotner Associates, Inc. (301-823-4250) has appointed David A. Ward as Vice President
and Partner. Ward is responsible for all site
selection, lease negotiation and tenant relations. The
International Council of Shopping Centers (ICSC) (212-421-8181) recently appointed its
state officers for PA, NJ and DE for the 1995-96 term.
The new officials include: Barry Borsky of Scotmar Property Assoc., Inc. as State
Director; Jeffrey Newman, Sills Cummis Zuckerman Radin Tischman Epstein & Gross P.C.
as Government Affairs Committee Chairman; Robert Hill, Site Development Inc. as Operations
Chairman; and Richard Matwes, Wakefern Food Corp. as Retail Chairman. The ISCS also appointed Ron Dowhaniuk as its
Director for the State of Oregon. Dowhaniuk
is the Division Leader of the Retail Properties Division for Grubb & Ellis. Space
Place Connecticut Milford- Tower Shopping Plaza is anchored by Fun Factory,
Power Video, Manhattan Bagel and Tutor Time Child Care.
The 65,487 sq.ft. project has 27,000 sq.ft. of contiguous space, including a 3,000
sq.ft. freestanding parcel, available for lease. Demographics
include a three-mile population of 56,446 earning $35,132 as the average household income
and a five-mile population of 149,000 earning $30,547 as the average household income. In Monroe- A
10,000 sq.ft. former Walter Stewart's Supermarket is available for lease. The site fronts Route 111 which generates a daily
traffic count of 27,000 cars. The site is
located across from Big Y Supermarket and CVS Shopping Center. In New Milford-
90 Danbury Road has two pad sites of 4,000 sq.ft. each and one pad site of 6,000
sq.ft. available for lease. The sites are
located at the entrance of a 114,000 sq.ft. Kmart. For details, contact Michael Berke of Oxford Real
Estate at (203-222-3939), Fax (222-3944). Illinois Peoria- University Plaza is anchored by Thompson's Food
Basket, Brown's Super Sports and Whitlock Auto. The
project has a space of 46,000 sq.ft. available for lease.
The site is located adjacent to Wal*Mart. Demographics
include a five-mile population of 138,360 earning more than $43,000 as the average
household income. For details, contact Michael J. Horne of HSS Real
Estate, Inc. at (312-849-2044), Fax (849-2050). Indiana Michigan
City- Michigan City Town Center, a 690,000
sq.ft. project to be anchored by Meijers Thrifty Acres and Lowe's Home Improvement, is
currently under construction. Space is
available for lease. For details, contact Peter Dellaportas of First
National Development, Ltd. at (312-527-9800), Fax (527-4664). Maryland Baltimore- Northwest Plaza Shopping Center is anchored by
Kmart, Blank's Fabrics, Rite Aid and Food King. The
230,000 sq.ft. project will be expanded by 13,000 sq.ft. and space is available for lease. Demographics include a three-mile population of
173,000 earning $44,000 as the average household income.
Also in Baltimore- Southside
Marketplace Shopping Center is anchored by Metro Food, Rite Aid, Blockbuster Video,
Goodyear and Payless ShoeSource. The 126,000
sq.ft. project has spaces from 1,200 sq.ft. to 10,000 sq.ft. available for lease. In Catonsville-
Forty West Shopping Center is anchored by Super Fresh, Sherwin Williams and Encore
Books. The 120,000 sq.ft. project has spaces
of 1,750 sq.ft. and 5,800 sq.ft. available for lease.
Demographics include a three-mile population of 79,000 earning $51,000 as the
average household income. In Dundalk- Merritt Park Shopping Center is anchored by J.J.
Newbury, Rite Aid, Western Auto and Pic 'N Pay. The
135,000 sq.ft. project has a 5,000 sq.ft. end cap space and a 20,000 sq.ft. former Merry
Go Round Outlet space available for lease. Demographics
include a three-mile population of 85,000 earning $38,000 as the average household income. In Ferndale-
Cromwell Field Shopping Center is anchored by Giant Food, Caldor, Payless
ShoeSource and Fashion Bug. The 240,000
sq.ft. project has a 14,700 sq.ft. former McCrory's store available for lease. Demographics include a three-mile population of
75,000 earning $52,000 as the average household income. For details, contact Dusty Klein of Klein
Enterprises at (410-486-9050), Fax (486-8760). Minnesota Mounds
View- Moundsview Square is anchored by Budget
Liquor, Snyder Drug Store and Minnesota Fabrics. The
91,175 sq.ft. project has spaces from 900 sq.ft. to 19,600 sq.ft. available for lease. The site fronts Highway 10 and Long Lake Road
which generate a combined daily traffic count of 38,000 cars. For details, contact Richard Jahnke of Paster
Enterprises at (612-646-7901), Fax (646-1389). New
Hampshire Keene- The Center at Keene is anchored by Gold's Gym,
Trendlines, Dress Barn and Famous Footwear. The
102,000 sq.ft. project will be expanded by 30,000 sq.ft. and build-to-suit spaces are
available. Demographics include a trade area
population of 120,000 with an average family income of $42,000. For details, contact Sheri Lorette of Round House
Realty Corp. at (603-358-4080), Fax (358-4081). Lease
Signings Smithy
Braedon*Oncor International (202-775-7615) leased 970 sq.ft. to Nine West in Washington,
D.C.; 8,750 sq.ft. to Goodwill Industries at Westland Center in Gaithersburg, MD; 3,500
sq.ft. to Barami Studios in Washington, D.C.; 5,692 sq.ft. to Rite Aid in Washington,
D.C.; 1,580 sq.ft. to United Optical at Muddy Branch Shopping Center in Gaithersburg, MD;
and 80,155 sq.ft. to Hills Department Stores at Long Leaf Mall in Wilmington, NC. Mid-America
Asset Management Co. (708-954-7300) leased 6,000 sq.ft. to Wash Around The Clock at Kedzie
Plaza South in Chicago, IL; 5,600 sq.ft. to Applebee's Restaurant and 1,842 sq.ft. to
Karma Records at Rivercrest Center in Crestwood, IL; 1,440 sq.ft. to Nail Salon at Beloit
Mall in Beloit, WI; 1,344 sq.ft. to Wisthoff Fitness at Chase Plaza Shopping Center in
Buffalo Grove, IL and 1,900 sq.ft. to Fast Signs at Highland Square Shopping Center in
Morton Grove, IL. West
Shell Commercial*Oncor International (513-721-4200) leased 2,400 sq.ft. to Tunes at Landen
Square Shopping Center in Cincinnati, OH. Pfeil
& Company (518-581-8280) leased 30,000 sq.ft. to MJ Designs at The Crossing in Clifton
Park and Halfmoon, NY. Neal
Realty & Investments, Inc. (305-568-0530) leased 2,500 sq.ft. to Travel Time U.S.A. at
the 541 Building in Margate, FL and 4,500 sq.ft. to Ace Beauty Supply in Dania, FL. Kimco
Realty Corporation (407-477-5818) leased 30,472 sq.ft. to Crafts & Stuff at Baby
Superstore Plaza in Lauderhill, FL. Metro
Commercial Real Estate, Inc. (609-866-1900) leased 19,200 sq.ft. to Sneaker Stadium at
Tremont Shopping Center in Philadelphia, PA. Paster
Enterprises (612-646-7901) leased 2,220 sq.ft. to United Karate at Moundsview Square in
Mounds View, MN. Lee
& Associates Commercial Real Estate Services (909-989-7771) represented The Top Shop
in its leasing of 10,944 sq.ft. for a clothing and furniture store at Nevada Street Plaza
in Redlands, CA. Mortbitzer Group, Inc. (407-539-1000) leased 15,458 sq.ft. to Sportswon, Inc. at Sherwin Williams Plaza in Kissimmee, FL; Avenue Shoppes in Orlando, FL; Winter Park Mall and Lake Howell Plaza, both in Winter Park, FL. The company also leased 1,200 sq.ft. to Tae Kwon Do College at Wellington Market Place in Wellington, FL; 1,300 sq.ft. to Optimart, Inc. at Crystal River Shopping Center in Crystal River, |