Issue37 for the week of October 20, 1995

The Dealmakers Issue Number 37 for the week of October 20, 1995.

Auto Tenants Expanding

Econo Lube N' Tube operates 213 locations in AZ, CA, CO, FL, GA, KS, MD, MO, NV, VA and WA. The automotive service centers occupy spaces of 2,800 sq.ft. in freestanding facilities, regional malls, power and strip centers. Preferred anchors include Wal*Mart, Kmart, Target, supermarkets and warehouse stores. Plans call for 30 openings in the coming 18 months. Expansion will take place in AZ, CO, GA, KS, MD, MO, VA and Washington, D.C. Preferred demographics include a population of 50,000 within three miles earning $35,000 as the average income. The company, which is franchising, prefers full build-to-suit deals or to purchase its sites. The company also prefers to locate its units on roads having daily traffic counts of at least 25,000 vehicles.

For more information, contact Mark Paredes, Econo Lube N' Tube, PO Box 2470, Newport Beach, CA 92658; 714-851-2259, Fax 852-6688.

Meineke, Inc. trades as Meineke Discount Muffler Shop at 900 locations throughout North America. The automotive service centers, specializing in muffler and brake repair, occupy spaces of 2,000 sq.ft. in freestanding facilities located on corner lots. Plans call for 30 openings in the coming 18 months. Expansion will take place nationwide. The company is franchising and the fee is $110,000.

For more information, contact Ed Katz, Meineke, Inc., 128 South Tryon #900, Charlotte, NC 28202; 704-377-8855, Fax 377-1490.

Precision Tune, Inc. trades as Precision Tune at 512 locations nationwide. The automotive service centers occupy spaces of 3,000 sq.ft. in freestanding facilities and strip centers. Plans call for 50 openings in the coming 18 months. Expansion will take place nationwide. Leases running 10 years are typical.

For more information, contact William Carroll, Precision Tune, Inc., PO Box 5000, Leesburg, VA 22075; 703-777-9095, Fax 779-0136.

Champion Auto Stores, Inc. trades as Champion Auto Stores at 178 locations in MN, WI, ND, SD, NE, IA, CO, MT and WY. The automotive supply stores occupy spaces of 5,000 sq.ft. to 6,000 sq.ft. in freestanding facilities and strip centers. Growth opportunities are sought in the existing markets.

For more information, contact Mark Wold, Champion Auto Stores, Inc., 9353 Jefferson Highway, Maple Grove, MN 55361; 612-391-6655.

Jiffy Lube International, Inc. trades as Jiffy Lube at more than 1,300 locations nationwide. The automotive service centers occupy spaces of 2,000 sq.ft. in freestanding facilities, regional malls and strip centers. Growth opportunities are sought nationwide.

For more information, contact the Director of Real Estate, Jiffy Lube International, Inc., PO Box 2967, Houston, TX 77252-2967; 713-546-8920, Fax 546-3656.

Crow Burlingame operates 108 locations in AR, LA, MO, OK and TX. The automotive parts stores occupy spaces of 3,500 sq.ft. to 5,500 sq.ft. in freestanding facilities. Growth opportunities are sought in the existing markets.

For more information, contact Fletcher Lord, Jr., Crow Burlingame, 520 West Capitol, Little Rock, AR 72203; 501-372-5275, Fax 376-2769.

New Construction

Glimcher Realty Trust plans to break ground next month on phase one of Georgeville Square in Columbus, OH. The project will be anchored by a 63,100 sq.ft. Kroger supermarket and a national home improvement tenant. Approximately 40,000 sq.ft. to 50,000 sq.ft. of specialty shop space will be constructed in phase one as will the development of seven out parcels. Approximately 46 acres of land will be available for future expansion of the project. Completion of phase one is expected during the fourth quarter of 1996.

For more information, contact Timothy Getz of Glimcher Realty Trust at (614-621-9000).

The Mills Corporation and Simon Property Group recently announced ten anchor tenants for its soon-to-be constructed 1.6 million sq.ft. Grapevine Mills project in Grapevine, TX. The race track shaped project, which is expected to open during Winter 1997, will be anchored by Burlington Coat Factory in 80,000 sq.ft.; Totally 4 Kids in 50,000 sq.ft.; Marshalls occupying 40,000 sq.ft.; Bed Bath & Beyond in 40,000 sq.ft.; The Sports Authority in more than 50,000 sq.ft.; Books-A-Million occupying 25,000 sq.ft.; Jumpin' Jax, an indoor entertainment center, using 25,000 sq.ft.; Speed Club America, a specialty car, fine art, clothing and motorsports memorabilia store using 30,000 sq.ft.; All-American SportPark, a multi-use entertainment and sports complex featuring golf, baseball, go-carts and arcade games that will occupy 25 acres; while Cinema Ride, Inc. and E2000, which offer entertainment and educational games will share a 50,000 sq.ft. space.

For more information, contact Doug Kotlove of The Mills Corporation at (202-833-4202).

Carolina Holdings, Inc. recently broke ground on phase two construction at Oakwood Square in Greensboro, NC. Currently being constructed at the site is a Houlihan's Restaurant on an outlot and a 30,130 sq.ft. OfficeMax/FurnitureMax store. Both tenants are expected to open during December. Phase one of the project is anchored by McDonald's, Borders Books and Music and Jewelry3.

For more information, contact Bill Misiaveg of Carolina Holdings, Inc. at (803-458-8088).

The Banbury Group recently completed construction of Joilet Commons in Joilet, IL. The 320,000 sq.ft. project is anchored by Target, Petsmart, M.C. Sports, Old Navy Clothing Company, The Cosmetic Center, Jewelry3, Barnes & Noble and a 10-screen Cinemark Theater. During 1996, the company plans to construct a 60,000 sq.ft. addition.

For more information, contact Alan Brody of The Banbury Group at (312-664-3776).

MIMCO, Inc. recently completed phase two of Zaragosa Village Shopping Center in El Paso, TX. Tenants include Sunland Optical, H&R Block, Family Dollar, Radio Shack, Cici's Pizza and Shoe World. The project is anchored by Smith's Food and Drug Center. Spaces of 1,200 sq.ft., 5,200 sq.ft. and 12,000 sq.ft. are available for lease. The company is developing Gateway Plaza, a 40,000 sq.ft. project to be constructed near Cielo Vista Mall in El Paso, TX. The site can be developed as a single or multi-tenant project. The company also announces development plans for Flores Village Shopping Center in El Paso, TX. The project is expected to house two anchor tenants of 33,000 sq.ft. to 40,000 sq.ft. in addition to 15,000 sq.ft. of small shop space.

For details, contact Bob Ayoub of MIMCO, Inc. at (915-779-6500).

Simon Property Group recently opened three super-regional malls in FL, IN and TX. Opening last month was Circle Centre Mall in downtown Indianapolis, IN. The 800,000 sq.ft. project, which is 92% leased, is anchored by Nordstrom's and Parisian. Other tenants include a full collection of stores from The Limited divisions, FAO Schwartz, Ann Taylor, The Gap, Gap Kids, Banana Republic, Disney Store, Warner Brothers Store, Eddie Bauer and The Finish Line. Also at the site is a nine-screen United Artist movie theater and several themed restaurants. Also opening last month was Seminole Towne Center in Sanford, FL. The 1.1 million sq.ft. project is anchored by Dillard's, Parisian, JC Penney, Burdine's and Sears. The 83% leased project is also tenanted by Ann Taylor, The Gap, Gap Kids, Disney Store, Talbots, Gymboree, Bebe, Cache and seven divisions from The Limited. A 10-screen United Artist theater is expected to open during the Spring. Opening this month is Lakeline Mall in Austin, TX. The 1.1 million sq.ft. project is anchored by Dillard's, Foley's, JC Penney, Mervyn's and Sears. The 91% leased project is also tenanted by The Gap, Gap Kids, Disney Store, American Eagle and several divisions from The Limited. A nine-screen movie theater will open during February.

For more information, contact Simon Property Group at (317-636-1600).

Kitchell Development Company plans to break ground during the fourth quarter on Meadows Marketplace in Douglas County, CO. The 232,000 sq.ft. project will be anchored by a 103,430 sq.ft. Home Depot and a 40,000 sq.ft. Bed Bath & Beyond store. The site is located adjacent to a 185,000 sq.ft. Incredible Universe and Park Meadows Mall, which is anchored by Nordstrom's, Dillard's and Joslins. Meadows Marketplace is expected to open during Fall 1996.

For more information, contact John Griggs of Kitchell Development Company at (714-261-1227).

Renovations, Expansions & Conversions

New Headline: Renovations, Expansions & Conversions

Ramco-Gershenson, Inc. recently began an exterior renovation of Roseville Plaza in Roseville, MI. The 265,747 sq.ft. project will get a complete resurfacing of the existing exterior facade which will call better attention to the 39,800 sq.ft. of retail space on the second floor of the center. In addition to the renovations, the project will get a new 36-foot high sign and be renamed Roseville Towne Center. Anchors at the project include Service Merchandise, Marshalls, Petfood Warehouse, Outback Steakhouse, Farmer Jack, Arbor Drugs and Auto Works. Renovation work is expected to be completed during November.

For more information, contact Karl Zabo, Director of Property Management for Ramco-Gershenson at (810-350-9900).

The Taubman Company, owner of The Mall at Short Hills in Short Hills, NJ, recently completed a $100 million expansion of the project. Added to the current anchors of Bloomingdale's and Macy's were Neiman Marcus, Nordstrom's and Saks Fifth Avenue. Additionally, 36 specialty stores were added, including Crate & Barrel, Guess? and Fila. The expansion brings the mall's GLA to 1.35 million sq.ft. housing the five anchors and 170 specialty store, 49 of which are unique to NJ. In addition to the construction, the project's parking capacity was boosted for an additional 1,400 cars.

For more information, contact Barbara Baker of The Taubman Company at (810-258-7367) or Janet Roller at The Mall at Short Hills at (201-376-7350).

Woodfield Associates, owners of Woodfield Mall in Schaumburg, IL, recently completed a $110 million renovation and expansion of the project. Project management company, Inland Construction Co., oversaw the construction of a 256,000 sq.ft. extension from the mall, a 200,000 sq.ft. Nordstrom's store, a 124,000 sq.ft. Lord & Taylor store, a two-level, 300,000 sq.ft. parking garage, the interior demolition and conversion of the old 120,000 sq.ft. Lord & Taylor store for specialty store space and the complete renovation of the existing 1.6 million sq.ft. mall. The completed mall's GLA is more than 2.4 million sq.ft. Interior renovations included a 50,000 sq.ft. grand court with two glass-cab elevators, escalators, 38 pyramid skylights, interior landscaping with fountains, carpeting and signage.

For more information, contact Paula Davis of Graycor, Inc. at (708-206-0500).

JBG/Rosenfield Retail Properties is currently renovating and expanding Loehmann's Plaza in Rockville, MD. Changes include the removal of the project's minimall configuration, construction of a new facade on the center and the demolition of some small store space. Anchor tenant Safeway plans to almost double the size of its facility from 21,860 sq.ft. to 42,460 sq.ft. and fellow anchor Loehmann's is increasing its size by 6,440 sq.ft. to 22,440 sq.ft. A new 5,000 sq.ft. Boston Market restaurant will be constructed on a pad site at the center. The expansion, which is expected to be completed by Spring 1996, will increase the project's size from 95,877 sq.ft. to 116,116 sq.ft. Other tenants at the site include Rite Aid, Shoe Town and Sherwin-Williams.

For more information, contact Grant Ehat of JBG/Rosenfeld at (301-657-7324), Fax (657-9850).

T.R.I. Berman Development Co. is currently redeveloping the John A. Roebling's Sons & Company industrial facility in downtown Trenton, NJ into a 200,000 sq.ft. mixed-use project named Roebling Market. Site and building demolition has been completed and the company is currently restoring the historical Building 10. The retail portion of the project, totalling 111,000 sq.ft., includes Mayfair Supermarket in 52,853 sq.ft.; Mandee in 9,292 sq.ft.; Thrift Drug in 7,266 sq.ft. and Sizes Unlimited in 4,189 sq.ft. New Jersey Housing & Mortgage Finance Agency will occupy 66,000 sq.ft. and an additional 25,000 sq.ft. of flex/office space is available for lease. The project is expected to be completed during Spring 1996.

For more information, contact Ron Berman of T.R.I. Berman Development Co. at (609-895-1998), Fax (895-1832).

Financial News

Bed Bath & Beyond (201-379-1750) recently reported that its second quarter net sales increased 34.6% to $150.1 million from $111.5 million during the same period last year. Net earnings for the quarter increased 26.9% to $11 million from $8.7 million last year. Comparable store sales increased 2.8%. The company currently operates 67 stores in 18 states and recently opened stores in Phoenix, AZ; Tulsa, OK and Dallas, TX. For the remainder of its fiscal year, which ends February 25, 1996, the company is planning to open units in Hoover, AL; Boca Raton and Orlando, FL; Indianapolis and Merrillville, IN; Gaithersburg, MD; Austin, TX and McLean, VA.

AutoZone, Inc. (901-325-4600) reported that its sales during its fiscal year 1995, which ended August 26, increased 20% to $1.81 billion from $1.51 billion during fiscal 1994. Net income increased 19% to $138.8 million from $116.4 million. Comparable store sales increased six percent for the year. During the past fiscal year, the company opened 210 units and plans to open another 250 units during fiscal 1996. The company currently operates 1,143 stores in 26 states.

Morrison Restaurants, Inc. (334-344-3000) plans to become three public companies through a tax-free spin off. The companies will include Ruby Tuesday, Inc. which will operate 283 Ruby Tuesday, 47 Mozzarella's and 16 Tia's restaurants; Morrison Fresh Cooking, Inc., which will operate the 145 traditional cafeterias, six small cafeterias and 26 quick-serve restaurants; and Morrison Health Care, Inc., which will operate the 289 hospital and health-care facility food service accounts. The plan is subject to shareholder approval and is expected to occur during the first quarter of 1996. In other news, the company reported that its first quarter operating profit in the Ruby Tuesday Group was down 20% compared to last year, but that its operating profit in its Family Dining Division and Health Care Division had increased three percent during the quarter. Comparable store sales at Ruby Tuesday restaurants were down 3.2%; down 7.3% at Mozzarella's Cafes and down 8.1% at the Family Dining Division. During the quarter, the Ruby Tuesday Group opened 16 restaurants and the Family Dining Division opened five Fresh Cooking units. The company currently operates 523 restaurants in its two divisions and has 289 hospital food-service contracts in 37 states.

Barnes & Noble, Inc. (212-633-3512) recently filed a registration statement for a public offering of 2.5 million shares of its common stock. The company plans to use the proceeds to open additional superstores as well as for working capital.

CompUSA, Inc. (214-383-4000) reported that sales for its first fiscal quarter of 1996 increased 26% to $739 million compared to $586 million during the same period last year. Comparable store sales increased 16.9%. The company currently operates 86 computer superstores.

Michaels Stores, Inc. (214-714-7100) reported that its September sales increased 7.5% to $89.9 million up from $83.6 million last year. However, comparable store sales decreased eight percent. The company attributed the decrease in comp store sales to its Leewards units which ran a clearance sale last year.

Safeway, Inc. (510-891-3000) reported that its third quarter sales increased to $3.8 billion, a 5.9% increase over sales during the same period last year. Net income during the quarter increased to $83.7 million from $63.7 million last year. Comparable store sales also increased 5.3% during the quarter. The company currently operates 1,058 supermarkets throughout North America.

Revco D.S., Inc. (216-425-9811) reported that sales during its first quarter of fiscal 1996, which ended August 26, increased 55.1% to $1.076 billion from $694.4 million during the same period last year. The company's first quarter operating profit increased 64.9% to $31 million and its net income increased 44.8% to $8.4 million from $5.8 million last year. Comparable store sales increased eight percent. During the quarter, the company opened 29 stores and closed 12 stores and currently operates 2,100 stores in 14 states.

Who's Opening and Where...

Borders (313-995-9702) recently opened Borders Books and Music stores at Eastland Plaza in Bloomington, IN and Keystone at The Crossing in Indianapolis, IN.

TVI, Inc. (206-450-2300) recently opened its 100th North American Value Village unit in Mount Vernon, WA. The company operates for-profit thrift stores.

Bruegger's Bagel Bakery (802-862-4700) plans to open units in Akron and Jackson Township, OH. The company also recently signed an area development agreement with Pacific Bagel Partners to open 20 units over the coming five years in the Orange County, CA market. The deal calls for the opening of two units before the end of this year and five openings during 1996. The chain is expected to have 282 bagel shops operating by year's end.

Garden Ridge (713-772-6262) plans to open a 141,000 sq.ft. store at a former Pace Membership Warehouse near Regency Square Mall in Jacksonville, FL during March. The company currently operates 11 home decor stores in KY, TN, OK and TX.

Dillard Department Stores (501-376-5200) plans to open a 240,000 sq.ft. store at MacArthur Center in downtown Norfolk, VA during 1997. The project, which will also be anchored by Nordstrom's and an unnamed third tenant, is being developed by Taubman Co.

Sun Television and Appliances, Inc. (614-846-4200) recently opened a 43,000 sq.ft. consumer electronics store in St. Clairsville, OH. The company, which operates 44 stores in KY, NY, OH, PA and WV, is also planning to open units in Lancaster, Springfield and Bayercreek, OH this Fall.

Ralphs Grocery Company (310-884-9000) recently opened a 54,000 sq.ft. Food 4 Less warehouse store in Santa Clarita, CA, a 71,200 sq.ft. unit in Norwalk, CA and a 53,000 sq.ft. unit in Victorville, CA. All three stores are open 24 hours a day, seven days a week. The company currently operates 360 stores in Southern CA, 25 in Northern CA and 37 in the Midwest. The Food 4 Less division operates 58 warehouse units in Southern CA.

National Home Centers (501-756-1700) recently opened a 204,600 sq.ft. home improvement store in Rogers, AR. The company currently operates 10 units.

Menard, Inc. (715-876-2207) is planning to open home improvement stores in IL, ND, NE and MN within the coming year.

Walgreen Co. (708-940-2680) recently opened a drug store in Tacoma, WA that is open 24-hours-a-day and features two drive-in bays. The company plans to open a unit in Lakewood, WA during November and as many as 65 stores in the Seattle-Tacoma, WA area over the next five years.

Barnes & Noble, Inc. (212-633-3512) recently opened a 20,000 sq.ft. bookstore in Waco, TX; a 20,000 sq.ft. bookstore in Fort Gratiot, MI; a 3,000 sq.ft. bookstore in Youngstown, OH; a 20,000 sq.ft. bookstore in Marietta, GA and a 25,000 sq.ft. unit at New Hope Commons in Durham, NC.

Starbucks Coffee Company (206-447-1575) recently formed a partnership with Star Markets which allows Starbucks to open retail locations within Star Markets. The first location recently opened in West Roxbury, MA and other dual locations are planned in Norwood, Quincy and Allston/Brighton, MA. Starbucks operates more than 650 units nationwide and Star Markets operates 37 supermarkets in MA.

CompUSA, Inc. (214-383-4000) recently opened a computer superstore in Bloomington, MN and is planning to open stores in Burbank and Monrovia, CA; Colorado Springs and Westminster, CO; Wilmington, DE; Altamonte Springs, FL; Boise, ID; Nashua, NH; Nashville, TN; El Paso, Houston and San Antonio, TX and Dale City, VA before June 1996. The company currently operates 86 units nationwide.

Loehmann's (718-409-2000) is planning to open an off-price women's apparel store in downtown Seattle, WA at Pike Street & Fourth Avenue.

Warner Brothers Studio Store (818-954-3809) is planning to open a 9,000 sq.ft. unit in downtown Seattle, WA during Spring at a location near Banana Republic.

Ross Dress for Less (510-505-4764) recently opened a store in Seattle, WA at the former F.W. Woolworth Building.

Schlotzky's Deli (800-846-2867) recently opened units in Kanazawa, Japan and Buenos Aires, Argentina.

Wal*Mart (501-273-4000) plans to open a 200,000 sq.ft. store at DeKalb Market Center in DeKalb County, IL.

The Coffee Beanery (810-733-1020) recently opened three units inside Spec's Music stores in FL.

Micro Center (614-481-5452) plans to open a computer store in Dallas, TX during its fiscal fourth quarter. The company currently operates 10 stores.

The Discovery Stores (214-490-8299) plans to change the name of its 11-unit chain to Discovery Channel Stores and open three more units. The company is also planning to add media centers to its stores for the holiday season.

Crocodile Enterprises, Inc. (818-796-4441) plans to open a Crocodile Express restaurant at the Galleria at Sunset in Henderson, NV during February.

Moovies, Inc. (803-292-2072) plans to open as many as eight video stores in Charlotte, NC within the coming year. The company currently operates 87 stores.

S&K Famous Brands, Inc. (804-346-2500) recently opened two menswear stores in Syracuse, NY and one in Durham, NC. The company is planning to open units in Peoria, IL; Baton Rouge, LA; Clearwater, St. Petersburg and Pensacola, FL; Buffalo, NY and Grand Rapids, MI. In addition, the company is planning to open superstores in Jacksonville and Tampa, FL; Austin, TX; Tulsa, OK; Des Moines, IA; Dayton, OH and Buffalo, NY. Superstores, which offer a wider selection of clothing in addition to shoes, average 5,000 sq.ft. to 6,000 sq.ft. compared to the average store size of 3,000 sq.ft. to 4,000 sq.ft. The stores are expected to begin opening this month.

Boston Market (708-955-6100) plans to open its first unit in Lexington, KY during December through its area franchisee BK TKO, L.P. Four additional units are expected to open in the Lexington market within the coming year.

Revco (216-425-9811) plans to open a 10,750 sq.ft. drug store in Lexington, KY early next year.

Hills Department Store (412-378-0511) plans to open an 88,000 sq.ft. unit at Riverdale Plaza Shopping Center in Hampton, VA this month.

Lone Star Steakhouse (316-264-8899) plans to open eight to 10 mid-priced steakhouse restaurants trading as Sullivan's in the coming year. The first unit is expected to open in Austin, TX. The concept will feature 1940s decor and have an average check of $35 to $40 per person.

Kinko's 805-652-4385) plans to open a 5,500 sq.ft. copy center at Canyon Springs Plaza in Moreno Valley, CA during November.

Supervalu, Inc. (612-828-4000) recently opened a 65,250 sq.ft. Cub Foods supermarket in Colorado Springs, CO.

Store Closings

Phillips-Van Heusen (908-685-1155) plans to close 200 of its outlet stores nationwide. The company typically closes 50 stores per year.

Fretter, Inc. (810-220-5178), which operates consumer electronics and home appliance stores under the tradenames Fretter, Fred Schmid, Dash Concepts, Silo and Yes!, plans to close 56 of its unprofitable stores. Twelve stores will be closed in WA; 11 in CA; seven in IL; five in UT; four each in NJ, NY and OR; two in CO; and one each in LA, MA, MI, NM, OH, PA and TX.

Handy Andy Home Improvement Center (708-517-4000) plans to close its stores in Elmwood Park and Peoria, IL before the end of the year.

Edward Hines Lumber Co. (708-773-2470) plans to close its Glenview, IL store before the end of the year.

Au Bon Pain Co., Inc. (617-423-2100) recently closed nine under-performing Au Bon Pain bakery cafes.

S&K Famous Brands (804-346-2500) plans to close its two Menswear Mega Center test stores in the Chicago, IL market during December.

Kmart (810-643-1000) plans to close its Scarborough, ME unit during December. The store has operated at its present location for the past 23 years.

F&M Distributors, Inc. (313-758-1400) plans to close 20 drug stores in Chicago, IL before the end of the year. After the closures, the company will continue to operate six units in Chicago, IL and 57 units overall in IL, MI, MD and Washington, D.C.

Mergers & Acquisitions

Lone Star Steakhouse (316-264-8899) recently acquired the Del Frisco's Double Eagle Steak House chain for $23 million. Del Frisco currently operates an upscale steakhouse in Dallas, TX. Two others are operating as licensees in Houston, TX and Orlando, FL and a fourth is currently under construction in Fort Worth. Lone Star plans to build a chain of 30 upscale steakhouses over the next four years patterned after the Double Eagle concept.

First National Entertainment Corp. (800-498-8342) recently signed mutual letters of intent to purchase Adventures in Video of Minneapolis, MN; three Video Tyme licensees in Las Vegas, NV; Five Star Video of Des Moines, IA; Speedy Video of San Francisco, CA; Our Video of Santa Cruz, CA; Fresno Video of Fresno, CA; Premiere Video 2000 of El Centro, CA; Highland Video of San Bernadino, CA; The Video Store of Santa Rosa, CA; and Video Depot of San Diego, CA. Last month, the company announced it had signed mutual letters of intent to purchase Video Tyme of Ventura, CA and Video Plus of Riverside, CA. The total number of stores being purchased is 86 for approximately $28 million.

Breuner's Home Furnishings Corp. (619-268-3447) and Huffman Koos, Inc. (201-343-4300) recently entered into a definitive merger agreement which will allow Bruener's to acquire the 12-unit Huffman Koos chain in a cash offer. The deal is subject to approvals.

Jumpin' Jax Corp. (612-550-1460) has signed a letter of intent to acquire all of the outstanding stock of Microplay Franchising, Inc. and Microplay Franchising America, Inc. Microplay, headquartered in Toronto, Ontario, Canada, operates 130 franchised and company-owned stores in the US, Canada and United Kingdom. The stores sell, rent, buy and trade video game systems and video games.

Act III Theatres (503-221-0213) plans to purchase five movie theaters from Moyer Theatres, Inc. The theaters are located in West Eugene, Portland and Wilsonville, OR and Vancouver and Olympia, WA. Act III Theatres currently operates 550 screens in OR, WA, ID, AK and TX.

Kmart Corp. (810-643-1000) announced that it will sell its 860 automotive service centers to Penske Auto Center, Inc. for approximately $112 million. Kmart will sublease the space for the auto centers to Penske and Penske will be responsible for all business functions of the centers. During a three-year transition period, Kmart will provide Penske with administrative and information services support. The deal is expected to be completed early next month.

Brothers Gourmet Coffees, Inc. (407-995-2600) plans to sell its 224 franchised and company-owned Gloria Jeans retail coffee units to The Second Cup, Ltd., Canada's largest specialty coffee retailer. The Second Cup operates 235 franchised and company-owned coffee stores in Canada and the Southwestern US.

Video Update (612-222-0006) recently acquired the 10-unit Indy Video chain in Indianapolis, IN. Video Update currently operates 164 company-owned and franchised video stores in AZ, IN, IL, MN, MO, NV, NH, PA, SC, VA, WA, WI and Canada.

Party Land, Inc. (215-676-5550) recently acquired 11 Parties Galore stores and plans to acquire another 27 stores in the near future. Parties Galore is a party supply chain owned by Evenson Cards Shops, Inc., a subsidiary of Hallmark Cards, Inc. Party Land currently operates more than 100 party supply stores throughout North America, Puerto Rico and Singapore.

Rhodes, Inc. (404-264-4600) plans to acquire the seven-unit chain The Glick Furniture Company. The deal is expected to close during November. Rhodes currently operates 81 furniture stores in 12 Midwestern and Southeastern states.

Federal-Mogul (810-354-8847) recently completed its acquisition of the Centropiezas group, operator of 33 automotive aftermarket parts stores in Puerto Rico. Federal-Mogul is a worldwide distributor and manufacturer of original and aftermarket auto parts. The company currently operates 116 auto parts stores worldwide.

Real Estate Professionals Making News

The Edward S. Gordon Company (212-984-6535) has named Richard Danesi associate director and Andrew B. Zezas as associate managing director of its Saddle Brook, NJ office.

Hiffman Shaffer Associates, Inc. (312-332-3555) promoted Tom Collins to Vice Chairman of HSA, Chairman of the Executive Committee and Vice Chairman of the Acquisition and Development Group; Robert E. Smietana was promoted to President and Chief Operating Officer of the company; and Richard Hulina was promoted to President of HSA's Acquisition and Development Group.

Superfresh (410-354-6497) announces that Richard Dugan has joined the company's real estate department. He will be responsible for new store site acquisition in the Baltimore, MD area. Dugan formerly was leasing manager and director of property disposition at Hechinger.

Duke Realty Investments (317-846-4700) announces that Jeffrey G. Tulloch has joined the company as Vice President/General Manager, Cincinnati Group.

Benj. E. Sherman & Sons (312-939-1400) recently became associated with Judd Lofchie & Associates, Inc. Judd Lofchie will head up the Retail Division as Vice President of Sales & Leasing.

La Salsa Fresh Mexican Grill (310-575-4233) announces the appointment of Steve Roth as Vice President of Real Estate and Construction. He will be responsible for the acquisition of new locations as well as the design and construction of the restaurants.

First Union Management, Inc. (216-781-4030) appointed Richard G. Klock as Assistant Vice President of Leasing for the West Coast Division.

United Commercial Realty (214-526-6262) appointed A. Lawrence Attaway as Senior Vice President. Attaway is the head of the Specialty Retail leasing department.

CB Commercial Real Estate Group (909-788-3733) announces that Wesley M. Fifield has joined the Riverside, CA office as a Retail Sales Associate.

HomeBase (714-442-5000) promoted Dave Weigel to Vice President/Real Estate. In his new position, Weigel will oversee new site development, design and construction, store remodeling, disposition of surplus properties and property management of the 78-unit chain.

The Mills Corporation (202-965-3600) announces that Laurence C. Siegel has been appointed Chairman of the company.

Glimcher Realty Trust (614-621-9000) appointed Timoty Getz as Senior Vice President of Finance and Investment.

Rothwood Real Estate Services, Inc. (516-466-3600) was recently awarded the designation of Most Valued Partner by Caldor, Inc. for its contribution in the location and development of stores on Long Island, New York City, Northern NJ and PA.

Dots (216-349-7900) promoted George Haskins to Vice President of Real Estate. Haskins will be responsible for all real estate functions, including strategic planning, new store development and lease administration.

CB Commercial Real Estate Group (303-628-7411) announces that Teri Hart has joined the Denver, CO office as National Director of Retail Disposition.

Grubb & Ellis (714-937-0881) announces that Bob Guerin and Coy Bui have joined the retail property division at the Newport Beach, CA office.

Julian J. Studley, Inc. (212-326-1000) announces that Peter Chiappone joined the Midtown New York, NY office as an associate director. The company announces that Josef Farrar and Michael E. LaSalla have joined the Los Angeles, CA office as Corporate Managing Directors. In addition, the company announces the following promotions: Mark A. Jaccom to Executive Managing Director; Laurence Morgan to Associate Director in the Chicago office; Joseph Learner to Corporate Managing Director; Richard Schuham to Corporate Managing Director; John Ziesmer to Senior Managing Director and Brian S. Liss to Corporate Managing Director.

Neal Realty & Investments, Inc. (305-568-0530) announces that Bradley F. Ward has joined the company. Ward will specialize in retail sales and leasing.

New America Network, Inc. (609-448-4700) promoted Jeffrey M. Finn to President and Chief Operating Officer of the company.

Ross Realty Group, Inc. (813-725-2800) announces that Cynthia Shelton has joined the company as a vice president. She will be responsible for corporate site selection, consulting and management functions. Ross Realty Group also announces that William Clayton has joined the firm. His responsibilities will include the marketing of major investment properties and the origination and development of new accounts in FL.

Lead Sheet

Children's Orchard

Director of Real Estate

315 East Eisenhower Parkway/ Suite 316

Ann Arbor, MI 48108

313-994-9199, Fax 994-9323

Apparel

The 51-unit chain operates locations in CA, CT, FL, IL, MA, ME, MI, MO, NH, NJ, NV and TX. The stores, selling new and used infant, children's and maternity apparel as well as toys, books and furniture, occupy spaces of 1,200 sq.ft. to 2,000 sq.ft. in power and strip centers. Preferred anchors include supermarkets. Plans call for 18 openings in the coming 18 months. Expansion will take place nationwide. Preferred demographics include a population of 300,000 within 10 miles earning $35,000 as the average income.

Ritz Camera Centers, Inc.

dba Ritz Camera One Hour Photo

Lawrence Benbassett

6711 Ritz Way

Beltsville, MD 20705-1384

301-419-0000, Fax 210-4623

Camera Shop

The 500-unit chain operates locations in 37 states. The stores, offering cameras, photography supplies and one hour film processing, occupy spaces of 1,400 sq.ft. to 2,000 sq.ft. in regional malls. Preferred anchors include full service department stores. Plans call for at least 60 openings in the coming 18 months. Expansion will take place nationwide. The 59-year-old company typically signs leases running eight to 10 years.

U.S. Merchandise Co., Inc.

dba U.S. Merchandise Co.

Fred Dorn

4577 Hinkley Industrial

Cleveland, OH 44109

216-749-0220, Ext. 108, Fax 749-6710

Catalog Showroom

The nine-unit chain operates locations in OH. The catalog showrooms occupy spaces of 25,000 sq.ft. in strip centers. Growth opportunities are sought in the existing market.

Shop N Go, Inc.

dba Shop N Go

John Shehadey

405 North Palm Avenue

Fresno, CA 93701

209-266-5055, Fax 266-8517

Convenience Stores

The 15-unit chain operates locations in CA. The stores occupy spaces of 2,000 sq.ft. to 3,000 sq.ft. in freestanding facilities and strip centers. Preferred anchors include Wal*Mart. Plans call for two openings in the coming 18 months. Expansion will take place in the existing market. The 22-year-old company typically signs a 20-year lease and cites 7-11 and Circle K as competition.

CW Acquisitions, Inc.

dba International Cutlery Ltd.

Jay Doyle

515 West 24th Street

New York, NY 10011

212-924-7300, Fax 627-5952

Cutlery

The 101-unit chain operates locations in AL, CT, FL, GA, ID, IL, LA, MA and ME. The stores, selling cutlery and gifts, occupy spaces of 400 sq.ft. to 600 sq.ft. in regional malls. Preferred anchors include Lord & Taylor. Plans call for 20 openings in the coming 18 months. Expansion will take place along the East Coast. Preferred demographics include a population of 100,000 within 10 miles earning at least $50,000 as the average income. The 20-year-old company typically signs leases running eight to 10 years.

J.L. Hammett Co.

dba Teaching Tools

Vince Botti

1 Hammett Place

Braintree, MA 02185-9057

617-848-4096

Educational Supplies

The 57-unit chain operates locations in AZ, CA, MA, FL, IL, MD, VA, NY, NJ, OK, TX, MN, KS, MO and GA. The stores, selling educational supplies, occupy spaces of 3,000 sq.ft. in power centers. Preferred anchors include TJ Maxx and supermarkets. Plans call for 10 openings in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of 300,000 within 10 miles earning at least $35,000 as the average income. The 25-year-old company typically signs a five-year lease and is franchising.

Future Shop Ltd.

Gary Patterson

1111 West Georgia Street/ Suite 1400

Vancouver, BC, Canada V6E 4M3

604-689-1804, Fax 681-9258

Electronics

The 69-unit chain operates locations in ID, OR, WA and Canada. The stores, selling appliances, computers and electronics, occupy spaces of 22,000 sq.ft. to 40,000 sq.ft. in freestanding facilities, power and strip centers. Preferred anchors include Costco and Wal*Mart. Plans call for 20 openings in the coming 18 months. Expansion will take place in ID, OR, UT and WA. Preferred demographics include a population of 200,000 within three to five miles earning $30,000 as the average income. The 13-year-old company typically signs a 10-year lease, prefers a vanilla shell and cites Circuit City, Computer City and CompUSA as competition.

Northwest Fabrics & Crafts

Lyle Ungerecht

13504 South Point Boulevard

Charlotte, NC 28241

704-587-5701, Fax 588-4896

Fabrics & Crafts

The 100-unit chain operates locations nationwide. The stores, selling fabrics and crafts, occupy spaces of 12,000 sq.ft. to 15,000 sq.ft. in power and strip centers. Plans call for as many as 20 openings in the coming 18 months. Expansion will take place in the Eastern, Midwestern and Southeastern regions. Preferred demographics include a population of 150,000 within 10 miles earning at least $35,000 as the average income. The 32-year-old company typically signs a five-year lease.

Logan's Road House Restaurant

Bill Gregg

565 Mariott Drive/ Suite 490

Nashville, TN 37214

615-885-9056, Fax 885-9057

Food

The five-unit chain operates locations in KY, IN and TN. The restaurants occupy spaces of 7,000 sq.ft. to 8,000 sq.ft. in freestanding facilities. Preferred anchors include Kmart, TJ Maxx and Wal*Mart. Plans call for six openings in the coming 18 months. Expansion will take place in AL, GA, IN, OH and WV. Preferred demographics include a population of 150,000 within 15 miles earning $25,000 as the average income. The four-year-old company typically signs leases running at least 15 years and cites Outback Steakhouse and Lone Star Steakhouse as competition.

Trans Pacific Stores, Ltd.

dba Trans Pacific Stores

Bryan Bloom

603 Park Point Drive

Golden, CO 80401

303-526-9402, Fax 526-0657

General Merchandise

The 76-unit chain operates locations nationwide. The general merchandise stores occupy spaces of 900 sq.ft. to 3,000 sq.ft. in downtown store fronts and regional malls. Plans call for six openings in the coming 18 months. Expansion will take place in CA, CO, IL and MN.

Headstart Hair Care Salons

Charles Bruno

248 Calaba Valley Parkway North

Pelham, AL 35124

205-988-4995, Fax 988-3046

Hair Salon

The 48-unit chain operates locations in AL. The hair salons occupy spaces of 1,400 sq.ft. in regional malls, power and strip centers. Preferred anchors include Kmart, TJ Maxx, Wal*Mart and supermarkets. Plans call for 12 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 earning $28,000 as the average income. The 12-year-old company prefers a vanilla box, plus a $12,000 tenant allowance and typically signs a five-year lease.

Handyman Home Centers

dba Handyman Ace Hardware

Ed Grimes

11 North Grand Avenue

Fairborn, OH 45324

513-879-0141, Fax 879-1177

Hardware

The eight-unit chain operates locations in OH. The hardware stores occupy spaces of 17,000 sq.ft. to 20,000 sq.ft. in freestanding facilities and strip centers. Preferred anchors include Wal*Mart and supermarkets. Plans call for two openings in the coming 18 months. Expansion will take place in Central OH. Preferred demographics include a population of 20,000 within five miles earning $25,000 as the average income. The 56-year-old company typically signs a 10-year lease with options.

Papa John's

John Quinn

5000 East Second Street

Long Beach, CA 90803

310-439-3444, Fax 439-3554

Health

The one-unit chain operates a location in CA. The health store occupies a 6,000 sq.ft. space in a central business district. Plans call for one opening in the coming 18 months. Expansion will take place in the existing market.

Pacific Linen, Inc.

dba Pacific Linen

David Cree

22032 23rd Drive S.E.

Bothell, WA 98021

206-481-2221, Fax 485-5650

Home Decor

The 51-unit chain operates locations in AK, CO, ID, KS, NV, OR, UT, WA and Canada. The linen stores occupy spaces of 20,000 sq.ft. in freestanding facilities, regional malls, power and specialty centers. Preferred anchors include department stores. Plans call for six openings in the coming 18 months. Expansion will take place in Canada. Preferred demographics include a population of 250,000 within five miles earning $45,000 as the average income. The 15-year-old company cites Linens 'N Things and Bed Bath & Beyond as competition.

Hamilton Luggage & Handbags

Gasper Vultaggio

377 Route 17 South/ Suite 6

Hasbrouk Heights, NJ 07604

201-288-6060, Fax 288-3399

Luggage

The 40-unit chain operates locations in AZ, FL, MA, MD, ME, MO, NC, NJ, PA, SC, TN, TX and VA. The luggage stores occupy spaces of 2,000 sq.ft. to 2,200 sq.ft. in outlet centers. Preferred anchors include major ready-to-wear tenants. Plans call for six openings in the coming 18 months. Expansion will take place within the existing markets. Preferred demographics include a population of 250,000 within 15 miles earning $35,000 as the average income. The 35-year-old company typically signs a five-year lease.

Record Den

Dennis Koury

701 Beta Drive #29

Mayfield Village, OH 44143

216-446-9199, Fax 446-9271

Music

The 12-unit chain operates locations in MI, OH and PA. The stores, selling compact discs, cassette tapes, music videos and related accessories, occupy spaces of 1,600 sq.ft. to 5,000 sq.ft. in regional malls. Plans call for two openings in the coming 18 months. Expansion will take place within the existing markets.

Fleet Feet, Inc.

dba Fleet Feet Sports

Tom Raynor

2407 J Street

Sacramento, CA 95816

916-557-1000, Fax 557-1010

Shoes

The 30-unit chain operates locations in CA, GA, IL, NM, NJ, NC, TN, TX, VA, MO and Washington, D.C. The stores, selling sports oriented shoes and apparel, occupy spaces of 1,000 sq.ft. to 1,500 sq.ft. in strip centers. Growth opportunities are sought in the existing markets.

Bunnies Children's Department Store

Alan Goldstein

c/o The Goldstein Group

2100 Route 208

Fairlawn, NJ 07410

201-703-9700, Fax 703-9678

Specialty

The 10-unit chain operates locations in NJ and NY. The stores, selling children's clothing, furniture and shoes, occupy spaces of 12,000 sq.ft. to 15,000 sq.ft. in power, specialty and strip centers. Preferred anchors include Marshalls and TJ Maxx. Plans call for two openings in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of 125,000 within five miles earning $25,000 as the average income. The 30-year-old company typically signs a 10-year lease with options and cites Kids 'R Us as competition.

Computerized Cobbler

Eric Neuner

4911B Clairemont Drive

San Diego, CA 92117

619-273-3742, Fax 273-8507

Specialty

The 10-unit chain operates locations in Southern CA. The stores, offering instant shoe repairs, occupy spaces of 500 sq.ft. in regional malls and strip centers. Growth opportunities are sought in the existing market.

Sun Optics Sunglass Specialty Shops

Keith Williams

2910 Oak Grove Lane

Rockford, IL 61108

815-227-5809

Sunglasses

The 14-unit chain operates locations in IL, IN, MI and WI. The stores, selling sunglasses, occupy spaces of 180 sq.ft. to 240 sq.ft. in regional malls. Plans call for the opening of four units in the coming 18 months. Expansion will take place in MI and MN. The five-year old company typically signs a five-year lease.

Magruders, Inc.

Louis Fanaroff

981 Rollins Avenue

Rockville, MD 20850

301-230-3000, Fax 230-3023

Supermarket

The 12-unit chain operates locations in MD, VA and Washington, D.C. The supermarkets occupy spaces of 25,000 sq.ft. in strip centers. Plans call for five openings in the coming 18 months. Expansion will take place in the existing markets. The 120-year-old company, which typically signs a 10-year lease, prefers tenant improvements and cites Giant and Safeway as competition.

Lot Stores

Scott Dweck

6 Sutton Place

Edison, NJ 08817

908-248-6666, Fax 248-0605

Variety

The 30-unit chain operates locations in MD, NJ, NY and PA. The variety stores occupy spaces of 4,000 sq.ft. to 8,000 sq.ft. in downtown store fronts, regional malls and strip centers. Preferred anchors include Kmart and Wal*Mart. Plans call for eight openings in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of 10,000 within one mile. The 47-year-old company caters to a lower income clientele.

20/20 Video

Morris Shab

1901 Pontius Avenue

Los Angeles, CA 90025

310-829-2020, Fax 445-0935

Video

The 28-unit chain operates locations in CA. The video stores occupy spaces of 4,000 sq.ft. to 6,000 sq.ft. in freestanding facilities and strip centers. Plans call for as many as eight openings in the coming 18 months. Expansion will take place in the existing market.

Buyers & Sellers of Commercial Properties

Hiffman & Shaffer Associates, Inc. brokered the sale of One West Grand, a 20,000 sq.ft. building in downtown Chicago, IL. The site was purchased by Rock Bottom Brewery who plans to open a brew pub.

For more information, contact Sharon Kahan at (312-332-3555).

Divaris Real Estate, Inc. brokered the sale of a former Tidemark Bank building in Hampton, VA. The site was purchased by Platinum Rotisserie Corp., a franchisee of Boston Market, who plans to build a Boston Market restaurant on the site.

For more information, contact Melissa Martin at (804-497-2113).

Neal Realty & Investments, Inc. and The DeWitt Casey Company brokered the sale of a 22,400 sq.ft. retail building in Lighthouse Point, FL. The buyer was Millenium Environmental Corp.

For more information, contact Timothy Neal at (305-568-0530).

CenterAmerica Property Trust, L.P. is in the market to acquire community shopping centers in the Houston, Dallas-Fort Worth, Austin, San Antonio and Rio Grande Valley, TX markets. Projects located in neighboring Southwestern states will also be considered. Preferred centers should have GLAs of at least 100,000 sq.ft., be located at major intersections with a stable or improving demographic profile and have at least one anchor tenant. The anchor space size must be compatible with or expandable to current prototype size of major retailers. Projects that can be redeveloped, repositioned, expanded or released are of interest. Submitted proposals should include a locational map, asking price, rent roll, sales data and percentage rent, three-year historical financial data, aerial photograph, site plan and description of existing debt. Regional malls and unanchored strip centers are not of interest.

For more information, contact Peter Tomassich at (713-665-2511), Fax (668-3394).

Breslin Realty Development Corp. brokered the sale of the Shoppes at Bayport Retail Shopping Center. The seller was McDonnell Douglas Finance Corporation and the selling price was $2.65 million.

For more information, contact Donald S. Vintsent at (516-741-7400, Ext. 265).

West Shell Commercial brokered the sale of Tom Sweeney Nissan in Cincinnati, OH. The buyer was Lonestar Steakhouse & Saloon who plans to construct a restaurant on the site. The purchase price was $2.825 million. The company also has the listing to sell Promenade Shopping Center in Forest Park, OH. The 129,000 sq.ft. project has an asking price of $3.2 million.