Issue 39 for the week of November 3, 1995

The Dealmakers Issue Number 39 for the week of November 3, 1995.

My Way by Ted Kraus

I was talking to a good friend the other day and after the usual discussion of getting old (at 50, we're not "middle age", how many 100-year-olds do you know?), family, friends and gossip, we got into a discussion on the economy and real estate. We both agreed that business was slow, but I contended that in comparison to five years ago, things are great. He said I was wrong in my assumption (he always says that, so at first I ignored him, as usual). He contended that five years ago, developers were in trouble along with the banks, but retailing, especially big box retailing, was doing fine. It was because big box users were aggressively expanding that most developer's butts were saved. Wal*Mart, Kmart, Home Depot, Ross, T.J. Maxx, Marshalls, etc. were opening at every street corner. Large vacancies became almost extinct and new developments could be justified.

Today, he contended, it's a different story. Developers are in decent shape as are the banks, but retailers are going down the tubes and that fundamental difference is substantial. Without profitable, expanding retailers filling vacancies, justifying new developments becomes impossible.

I thought about his statement, and he was right. I guess that because we're (TKO) currently paying our bills (thank you, god) I became somewhat oblivious to the obvious. Looking back, the last year has not been an uplifting experience. Petrie went 11, as did Bradlees and Caldor; Jamesway is either going back into 11 or being liquidated; Hills, after coming out of bankruptcy, is having trouble again. We all know about Kmart; Fashion Bug might be going 11 shortly; Silo is closing more units or closing completely; Van Heusen is closing 250 stores; Gateway Apparel is closing 88 stores and F&M is again closing stores while trying to figure out how to become profitable, as is Fretters and Weiner's. Marshalls is being sold because of profitability problems, as was Hit or Miss. The list, unfortunately, goes on and on.

These are not signs of a thriving, healthy economy. Yes, Bed, Bath & Beyond, Target, Wal*Mart and Home Depot are doing great and there appears to be a 16-plex movie theater (or to be politically correct, entertainment complex) opening every other day, but I just don't feel comfortable trusting my future or Josh's to the Wal*Marts of the world.

Now contrary to the contentions of some, I am not being a prophet of doom; I'm just pointing out the obvious that anyone with an IQ above 70 should realize. Some people contend all I do is point out the negative aspects of our industry, and while that isn't all I do, I try to point out more of the problems confronting our industry than Shopping Center World, ICSC Today or Chain Store Age Executive does, that's my job. My contention is that these publications are not doing their reader's justice. (However, I give ICSC Today credit, they have published numerous articles on the problems facing numerous companies, i.e., Simon and The Mall of America, etc.) Maybe some of 'em believe that if they ignore it, it will go away. Others avoid this subject because it's harder to sell advertising when you're contending that business stinks. (Ann can vouch for that. If you want to prove me wrong, feel free to call her and place an ad.) Either way, I think it's important that someone address this matter.

Most of what I say, you probably have surmised for quite a while. It is my belief that if we admit we have a problem, it is the first step towards solving it.

Changing the subject, another good friend, (three more, and I used 'em all up) Ed Paster of Paster Enterprises in St. Paul, MN (612-646-7901), and I have been debating the subject of electronic fund transfer for rent payments for over a year now. Ed started using this method about 18 months ago. Instead of sending a rent check to him every month, the tenant (mostly ma/pa types who don't know better) sign a form authorizing their bank to transfer the rent to Ed's management account monthly. In theory, it's a great concept, rents are paid on time, the retailer has less paperwork and everyone comes out ahead. In reality, I feel that most small companies can't afford this luxury no matter how much the developer contends it's fair.

Anyway, ED recently faxed me a note saying, "We have spoken of Electronic Fund Transfer and I love it. We have been using this program for some time and it has proven to be successful with our company. The program provides the mechanism to pull back on payment if the tenant is having problems. If there is a problem, the tenant stops payment." Ed ends with "I think you could honestly advocate this in your newsletters." Also, Ed enclosed information on the local utility implementing this program and other organizations that are advocating it. In the world of retailing, Target, Wal*Mart, Blockbuster, Chevron, Mobil and Sears are some of the larger companies implementing it.

I respect Ed immensely, and while we often agree not to agree, I understand where he's coming from. For the developer/management company (which Ed is) this program makes lots of sense, especially if you're dealing with local tenants.

I've only had one experience with this service on a personal basis (as a management company, we have had several tenants "ask permission" to start paying rent that way, and we have always approved the request immediately) and that was when I bought a decent size life insurance policy and spread the payments over a year. To make my life easier, the salesperson convinced me to go with the automatic debit method. All went well for about five months, then we had several unexpected bills and I completely forgot about the insurance and the checking account became overdrawn. Fortunately, the manager of the bank had pity on me and called, providing 25 minutes grace time to cover the check before it bounced. While making the deposit, I also withdrew from the program, vowing "never again." Local retailers always have unexpected expenses and a similar situation would create substantial hardships for them.

Here's a "tip" for you on the next hot trend in retailing. They're called "CyberCafes" and what they are is a "Starbucks" with computers connected to the Internet. Customers can come in, have coffee, dessert and "chat" on the Internet with people worldwide, surf the net or connect to the World Wide Web. It's the latest version of the '60s coffee house (if you want a list of their locations worldwide, visit http://ww.easynet.co.uk./pages/cafe/ccafe.html) that was updated by the "Starbucks" coffee shops, which are now being updated again. I'm willing to bet that we'll be seeing numerous closings of the over expanded "Starbuck" concept coffee shops that opened in the '90s and replaced with this "updated and improved" version. The reason the "old" coffee shops won't be converted is they're too small. Of course, this concept will also be overexpanded, and in three to five years, these stores will start to close. But it's the hot tenant for today.

Talking about the Internet, several weeks ago, I asked that the readers who have e-mail access send a message to me at: ted.kraus@dealmakers.net, so we could "judge" what percentage of our readers were Internet literate. I hate to say it, but only 15 people replied, meaning either no one loves me (except Ann, of course) or this industry has a long way to go. While I'm not saying I'm loved, I think our industry has a long way to go to become computer literate.

Apparel Tenants Looking To Expand Nationwide

Corral West Ranchwear, Inc. trades as Corral West Ranchwear at 50 locations in AZ, CO, ID, MT, NE, NM, NV, SD, WA and WY. The stores, selling family western wear, accessories and gifts, occupy spaces of 10,000 sq.ft. to 23,000 sq.ft. in freestanding facilities, regional malls and strip centers. Plans call for two openings in the coming 18 months. Expansion will take place within the existing markets.

For more information, contact Darwin Stover, Corral West Ranchwear, Inc., 4519 Frontier Mall Drive, Cheyenne, WY 82009; 307-632-0951, Fax 632-4032.

Ebertos, Inc. does business as Soccer Master at eight locations in KS and MO. The stores, selling soccer apparel, footwear and equipment, occupy spaces of 2,000 sq.ft. to 3,000 sq.ft. in freestanding facilities and upscale strip centers. Preferred anchors include large upscale tenants. Plans call for as many as three openings in the coming 18 months. Expansion will take place in KS, OK, KY or TN. For its new locations, the company is looking for spaces running 2,500 sq.ft. to 3,500 sq.ft.

For more information, contact Emil J. Brcic, Ebertos, Inc., 1111 G. Horan Drive, Fenton, MO 63026; 314-343-0343, Fax 349-1661.

S&W Western Wear, Inc. trades as S&W Western Wear at three locations in AR and LA. The stores, selling western apparel and boots, occupy spaces of 4,000 sq.ft. to 6,000 sq.ft. in freestanding facilities. Plans call for one opening in the coming 18 months. Expansion will take place in the Louisville, KY market.

For more information, contact George Waggoner, S&W Western Wear, Inc., PO Box 3098, West Monroe, LA 71294; 318-396-4212, Fax 397-1911.

Etienne Aigner operates 59 locations nationwide. The stores, selling women's apparel at off prices, occupy spaces of 1,400 sq.ft. to 3,500 sq.ft. in outlet and value centers. Plans call for six openings in the coming 18 months. Expansion will take place nationwide.

For more information, contact Bruce Trattler, Etienne Aigner, 47 Brunswick Avenue, Edison, NJ 08818; 908-248-9200, Fax 248-8707.

Tuxedo Junction, Inc. trades as Tuxedo Junction at 28 locations in NY, OH and PA. The stores, selling formal apparel for both men and women, occupy spaces of 900 sq.ft. to 1,200 sq.ft. in regional malls. Plans call for as many as two openings in the coming 18 months. Expansion will take place within the existing markets.

For more information, contact Claudia Syracuse, Tuxedo Junction, Inc., 120 Earhardt Drive, Williamsville, NY 14221; 716-633-2400, Fax 633-1719.

Just Add Water, Inc. trades as Just Add Water at nine locations in TX. The women's apparel stores occupy spaces of 1,200 sq.ft. in regional malls and strip centers. Plans call for one opening in the coming 18 months. Expansion will take place in the existing market.

For more information, contact Ron McCullars, Just Add Water, Inc., 2990 Congressman Lane, Dallas, TX 75220; 214-956-8686, Fax 351-1609.

Financial News...

Dart Group Corporation (301-731-1200) recently announced that a settlement agreement between Dart and Robert Haft has been reached to resolve all outstanding litigation. The agreement is subject to the court's approval. Under the agreement, Ronald Haft will resign as Director, President and Chief Operating Officer of Dart, as Director and Acting President of Crown Books Corp. and as Director of Trak Auto Corp. Haft has also agreed to divest all of his interest in Dart by selling his shares in Dart and its subsidiaries over time either to Dart or to third parties. Dart agreed to immediately purchase 172,730 Class B voting shares. In addition, Dart and Haft agreed to dismiss all litigation currently pending against each other.

Family Dollar Stores, Inc. (704-847-6961) reported that its sales for its fiscal year, ended August 31, were up 8.3% to $1.546 billion compared to $1.428 billion last year. Comparable store sales for the year fell 0.7%. During fiscal 1995, the company opened 213 stores and closed 12. For fiscal 1996, the company is planning to open 225 stores and close 25 stores. Currently, the company operates 2,439 stores in 38 states.

Ryan's Family Steak House (803-879-1000) reported that its third quarter sales increased to $131.7 million compared to $115 million during the same period last year. Net earnings for the quarter increased to $8.67 million from $7.84 million last year. The company currently operates and franchises 254 restaurants.

Schlotzsky's, Inc. (800-846-2867) recently filed documents with the Securities and Exchange Commission to sell two million shares of its stock. The company plans to use the proceeds from the sale to retire debt. According to the documents, the company is looking to operate 485 units by the end of this year and 665 units by the end of next year.

Montgomery Ward (312-467-2000) and Levitz Furniture, Inc. (407-994-5151) recently terminated discussions regarding Montgomery Ward's proposed investment in Levitz. The cancelled deal called for Montgomery Ward to purchase over seven million shares of Levitz stock for $65 million. Montgomery Ward also had an option to purchase an additional 13.6 million shares.

Home Improvement Chains Looking To Expand

J.T.'s Home & Builders Centers operates three locations in RI. The home centers occupy spaces of 10,000 sq.ft. to 20,000 sq.ft. in freestanding facilities on five acres of land. Growth opportunities are sought in the existing market.

For more information, contact Charlie Vernon, J.T.'s Home & Builders Centers, PO Box 399, Newport, RI 02840; 401-848-7010, Fax 847-0560.

Stine Lumber Co. operates five locations in LA. The home centers occupy spaces of 45,000 sq.ft. in freestanding facilities. Plans call for two openings in the coming 18 months. Expansion will take place in LA and TX. The company also recently opened a store called Home & Yard, which sells hardware and garden supplies, in Natchitoches, LA.

For more information, contact Gary Stine, Stine Lumber Co., 1509 Huntington Street, Sulphur, LA 70663; 318-527-0121, Fax 527-2712.

Stone's, Inc. trades as Stone's at nine locations in FL and GA. The hardware and lumber yard stores occupy spaces of 20,000 sq.ft. in freestanding facilities. Plans call for one opening within the coming 18 months. Expansion will take place within a 100-mile radius of Bainbridge, GA.

For more information, contact Laura Bridges, Stone's, Inc., PO Box 974, Bainbridge, GA 31717; 912-246-2929, Fax 246-9083.

Scotty's, Inc. does business as Scotty's at 152 locations in AL, FL and GA. The stores, selling hardware and home improvement items, occupy spaces of 10,000 sq.ft. to 60,000 sq.ft. in freestanding facilities and strip centers. Plans call for 30 openings within the coming 18 months. Expansion will take place in FL and southern GA. Preferred demographics include a population of 12,000 within one mile.

For more information, contact Richard Flora, Scotty's, Inc., PO Box 939, Winter Haven, FL 33802-0939; 941-297-6075, Fax 291-4838.

Yardbirds Electric & Plumbing operates 10 locations in CA. The home improvement stores occupy spaces of 40,000 sq.ft. in community strip centers. Plans call for one opening within the coming 18 months. Expansion will take place in the existing market.

For more information, contact Gordon Griffin, Yardbirds Electric & Plumbing, 1310 Clegg Street, Petaluma, CA 94954; 707-762-5600, Fax 762-1208.

Blonders, Inc. trades as Blonders at nine locations in OH. The stores, selling paint, wall coverings and window treatments, occupy spaces of 3,500 sq.ft. in freestanding facilities and strip centers. Plans call for one opening in the coming 18 months. Expansion will take place in Mentor, OH.

For more information, contact Mike Roesch, Blonders, Inc., 4121 Carnegie, Cleveland, OH 44103; 216-391-0363, Fax 391-0660.

Bergen Tile & Linoleum Company trades as Bergen Tile & Linoleum at six locations in NY. The stores, selling floor coverings, occupy spaces of 2,500 sq.ft. to 12,000 sq.ft. in strip centers. Plans call for two openings in the coming 18 months. Expansion will take place in Queens, NY. The company is seeking 5,000 sq.ft. spaces.

For more information, contact Marty Domansky, Bergen Tile & Linoleum Company, 215 Flatbush Avenue, Brooklyn, NY 11217; 718-789-9000, Fax 638-9787.

Parker Paint Manufacturing, Inc. does business as Parker Paint at 36 locations in OR and WA. The stores, selling paint, supplies and wallcoverings, occupy spaces of 3,000 sq.ft. to 3,600 sq.ft. in freestanding facilities and strip centers. Growth opportunities are sought in the existing markets. The company will also consider spaces from 2,500 sq.ft. to 5,000 sq.ft. in industrial areas as well.

For more information, contact Tim Dundas, Parker Paint Manufacturing, Inc., 3003 South Tacoma, Tacoma, WA 98411; 206-473-1122, Fax 473-0448.

Who's Opening and Where...

Pet Food Warehouse (612-542-0123) recently opened a unit in Des Moines, IA.

Publix Supermarkets (813-688-1188) recently opened a unit in Miami, FL, the company's 500th store. The company is looking to open 10 more supermarkets before the end of year, including an entry into AL.

AMC Entertainment, Inc. (816-221-4000) plans to open an 85,000 sq.ft., 24-screen movie complex called Huebner Oaks 24 Theaters at Huebner Oaks Commons in San Antonio, TX early in 1997.

Barnes & Noble (212-633-3512) recently opened a 25,000 sq.ft. bookstore in Fort Collins, CO; a 20,000 sq.ft. unit in Cape Giradeau, MO; a 31,000 sq.ft. unit in Falls Church, VA; a 20,000 sq.ft. store in Bellingham, WA and a 28,500 sq.ft. store in Vernon Hills, IL.

BP Oil Company (216-586-5940) recently opened 12 BP Express convenience stores/service stations in the Columbus, OH market. The Express stores, which are three times larger than the company's traditional stores, offer an on-site bakery, a selection of diary products, fresh deli sandwiches, gourmet coffee, fresh fruits and automated teller machines, while the stations offer pay-at-the-pump options and a car wash.

Dick's Clothing and Sporting Goods (412-269-4400) recently opened a store at Beldon Parke Crossing in Jackson Township, OH.

Saks Fifth Avenue (212-940-5700) plans to open a cafe called Petals at its Bal Harbour, FL store next month. The 1,000 sq.ft. unit will be managed by a local restauranteur. If the cafe proves successful, the company may open similar units in its other FL locations.

Linens 'n Things (914-925-4188) recently opened a 40,000 sq.ft. store at Linens 'n Things Plaza in Indianapolis, IN.

Shop 'N Save (412-745-5846) recently opened a 53,000 sq.ft. supermarket in Canonsburg, PA.

Manhattan Bagel (908-544-0155) recently opened a unit in Baywick Plaza in Bayville, NJ through its franchisee Brianna Enterprises. The company also recently signed a letter of intent to award exclusive master franchise rights for the entire country of Canada to Comac Food Group, Inc. Under the agreement, Comac would be designated the sub-franchiser for Canada for a period of 20 years, with two 10-year options to renew. In order to maintain its exclusivity, Comac is initially responsible for opening at least 100 Manhattan Bagel stores before December 31, 2000. Seven stores have to be opened before the end of next year. The deal is expected to completed this month.

T.G.I. Friday's (214-450-5400) recently opened a 4,500 sq.ft. unit in Bradenton, FL. The restaurant is the smallest in the chain and part of a new concept that will allow the company to enter smaller markets. The company also recently opened a T.G.I. Friday's in Sao Paulo, Brazil through its franchisee Next Enterprises, Inc. The company currently operates 342 units worldwide.

Wal*Mart (501-273-4000) recently announced that during its next fiscal year, which begins February 1, the company plans to open 75 discount stores, 110 superstores, 95 of which will be relocations or expansions of existing discount stores, and 12 Sam's Clubs nationwide. In addition, the company will open as many as 35 discount, supercenter and Sam's Clubs in Argentina, Brazil, Canada, China, Mexico and Puerto Rico. Currently, the company operates 1,974 discount stores, 209 supercenters, 431 Sam's Clubs, 128 Canadian Wal*Marts, 119 Mexican units, eight Puerto Rico units, three Hong Kong Value Clubs, one Argentina club and one Brazilian club. The company also plans to open a 204,270 sq.ft. supercenter in Bradenton, FL during April.

30 Minute Photos Etc. (714-474-7654) is planning to open 1,200 sq.ft. stores that will offer photo processing and photography supplies in outlet centers nationwide. Site selection will be based on each outlet's proximity to major roadways traveled by shoppers and people on vacation.

The Gap (415-952-4400) plans to open a 15,000 sq.ft. Old Navy Clothing store at TJ Maxx Shopping Plaza in Kendall, FL next month.

Salon Development Corp. (201-884-2330) recently opened hair salons at Eastview Mall and Marketplace Mall in Rochester, NY. The company operates 53 locations trading as Cutting Crew and Gentry in CT, NJ and NY.

Gymboree (415-579-0600) opened 47 children's clothing stores during the first six months of 1995 and is planning to open 18 more before the end of the year.

McDonald's (708-575-3000) and Amoco Corporation plan to develop co-branded retail locations consisting of a McDonald's restaurant and Amoco service station and convenience store in the Mid-Atlantic, Midwestern, North Central and Southeastern U.S. The two companies currently operate 12 co-branded locations in IL, IN and MI.

Champps Entertainment, Inc. (612-449-4841) recently opened a company-owned restaurant at The Shops at River Crossing in Indianapolis, IN. The company currently operates five restaurants and franchises another 11 units.

The Kroger Co. (513-762-4000) plans to open 12 supermarkets in the Atlanta, GA market during 1996, including a test mini-store at City Plaza in downtown Atlanta. Additionally, the company will expand three units in the Atlanta market.

Etienne Aigner (908-248-9200) recently opened its first full price women's apparel store at The King of Prussia Mall in King of Prussia, PA. The company also operates 59 off-price women's apparel stores in outlet and value centers nationwide.

The Good Guys! (415-615-5000) recently opened units in Clackamas and Eugene, OR and is planning to open stores in Silverdale, WA; Henderson, NV and Chino Hills and Riverside, CA.

Recreational Equipment, Inc. (206-395-4693) plans to open a 98,000 sq.ft. store in downtown Seattle, WA next fall. The store will include a climbing wall, a mountain bike test trail, an auditorium, a children's play area and a travel resource section that will assist customers in planning outdoor adventure trips.

America's Steak Expert (303-293-0200) plans to open Firegrill restaurants in Evergreen, Louisville, Colorado Springs and Denver, CO as well as in Mexico City and the Yucatan Peninsula, Mexico and Jakarta, Indonesia. The units are expected to begin opening before the end of the year.

Cinemark USA (214-696-1644) plans to open six movie complexes, totalling 107 screens and 30,200 seats, in the Houston, TX market by the end of 1997.

T.J. Maxx (508-390-3000) plans to open a 29,000 sq.ft. store at the former Block's building in downtown Indianapolis, IN next Spring.

Ralphs Grocery Company (310-884-9000) recently opened a Food 4 Less warehouse store in Oxnard, CA.

Bruegger's Corporation (802-862-4700) recently signed an area development agreement with ATM, Inc. for the opening of at least 60 bagel stores in Los Angeles, Ventura, Riverside and San Bernardino, CA over the next five years.

Toys 'R Us (201-599-7850) plans to open six new concept stores called Babies 'R Us. The company is also planning to open two 85,000 sq.ft. Toys 'R Us units, which are twice the size of its existing stores.

Lead Sheet

Claire's Stores

dba Claire's Boutiques,

Topkapi, Dara Michelle

Dominic Portanova

1501 N. Michael Drive

Woodale, IL 60191

708-860-6600, Fax 860-6618

Accessories

The 1,300-unit chain operates locations throughout North America, Puerto Rico and the Virgin Islands. The stores, selling ladies accessories, occupy spaces of 850 sq.ft. to 1,000 sq.ft. in regional malls and specialty centers. Plans call for 115 openings within the coming 18 months. Expansion will take place nationwide.

Leather World

Bernard Noymer

30-A Langley Road

Newton, MA 02159

617-332-6519, Fax 332-8864

Accessories

The six-unit chain operates locations in MA. The stores, selling luggage and leather goods, occupy spaces of 2,200 sq.ft. in freestanding facilities, outlet and strip centers. Growth opportunities are sought in CT, MA, ME, NH, RI and VT.

Toys 'R Us, Inc.

dba Toys 'R Us, Kids 'R Us

Gayle Aertker

461 From Road

Paramus, NJ 07652

201-599-7850, Fax 262-9097

Apparel/Toys

The company operates 220 Kids 'R Us units nationwide and 990 Toys 'R Us units worldwide. The Kids 'R Us stores, offering children's apparel, use spaces of 15,500 sq.ft. in freestanding facilities and power centers. The Toys 'R Us stores, selling toys and hardlines, occupy spaces of 30,000 sq.ft. to 45,000 sq.ft. in freestanding facilities and power centers. Plans call for as many as 20 Kids 'R Us openings nationwide and as many as 85 Toys 'R Us openings worldwide within the coming 18 months.

Fletcher Enterprises

dba Cobra Tire

Wayne Hess

2601 North 32nd Avenue

Phoenix, AZ 85009

602-269-1351, Fax 484-9279

Automotive

The 44-unit chain operates locations in AZ. The stores, selling automotive parts and tires, occupy spaces of 6,000 sq.ft. in freestanding facilities and power centers. Preferred anchors include supermarkets. Plans call for the opening of four units annually. Expansion will take place in the Phoenix and Tucson, AZ markets. Preferred demographics include a population of 250,000 within four miles earning $24,000 as the average income. The company looks for build-to-suit deals or will sign a 20-year ground lease.

Hahn Automotive

dba Autoworks & Advantage

David Beckerman

415 West Main Street

Rochester, NY 14608

716-464-3812, Fax 235-7134

Automotive

The 233-unit chain operates locations in IL, IN, KY, MI, NC, NJ, NY, OH, PA, VA and WV. The automotive parts stores occupy spaces of 5,400 sq.ft. in freestanding facilities. Plans call for as many as 20 openings in the coming 18 months. Expansion will take place within the existing markets.

Tandy Craft, Inc.

dba Joshua's Christian Stores

Jim Linnell, Tom Browning

1400 Everman Parkway

Fort Worth, TX 76140

817-568-7800, Fax 293-0839

Books

The 72-unit chain operates locations in AL, CA, CO, GA, KY, NM, SC, TN and TX. The stores, selling religious-oriented books, music, videos and gifts, occupy spaces of 2,300 sq.ft. to 4,000 sq.ft. in strip centers. Plans call for as many as five openings in the coming 18 months. Expansion will take place on the West Coast and East Coast, particularly FL.

The Norman Group

dba Norman's, Giggles

Howard Henschel

Lawrence Center

U.S 1 & Texas Avenue

Lawrenceville, NJ 08648

609-882-2800, Fax 883-5539

Cards & Gifts

The 12-unit chain operates locations in central and southern NJ and eastern PA. The stores, Norman's is a traditional Hallmark store and Giggles is an alternative store selling trendy cards and gifts, occupy spaces of 2,500 sq.ft. to 7,000 sq.ft. in downtown store fronts, regional malls, specialty and strip centers. Preferred anchors include Kmart and Jamesway. Plans call for two openings annually. Expansion will take place in the existing markets.

Magnifique Parfumes & Cosmetics

dba Perfumania

David Taney

11701 NW 101 Road

Miami, FL 33178

305-889-1548, Fax 592-3528

Cosmetics

The 185-unit chain operates locations nationwide. The stores, selling designer brand fragrances and a limited selection of accessories at 10% to 70% off suggested retail prices, occupy spaces of 1,200 sq.ft. to 1,400 sq.ft. in downtown store fronts, regional malls and outlet centers. Plans call for as many as 35 openings in the coming 18 months. Expansion will take place nationwide. The company is looking for space in super regional and festival malls as well as spaces from 900 sq.ft. to 1,200 sq.ft. in transit terminals.

Thriftway Associates

dba Vanderveer Pharmacy

Paul Braun or Howard Sternheim

156-36 Cross Bay Boulevard

Howard Beach, NY 11414

718-835-2000, Fax 835-5361

Drug Store

The 30-unit chain operates locations in NY. The drug stores occupy spaces of 8,000 sq.ft. to 12,000 sq.ft. in regional malls and strip centers. Plans call for three openings in the coming 18 months. Expansion will take place in NY.

Regal Cinemas

Keith Thompson

7132 Commercial Park Drive

Knoxville, TN 37918

615-922-1123, Fax 922-3188

Entertainment

The 117-unit chain operates locations nationwide. The movie theaters occupy spaces of 30,000 sq.ft. in freestanding facilities. Plans call for 20 openings in the coming 18 months. Expansion will take place in OK and IN.

South Mountain Corporation

dba South Mountain Kiddie Rides

Thomas Plunket

PO Box 313

Hershey, PA 17033

717-867-3520, Fax 867-3521

Entertainment

The 82-unit chain operates locations in PA, NJ, NY, OH, WV, GA, TN, NC and SC. The concept offers coin operated kiddie rides while using spaces of 100 sq.ft. in regional malls. Plans call for 12 openings in the coming 18 months. Expansion will take place nationwide. Preferred demographics include a population of 75,000 within 20 miles earning $35,000 as the average income. Leases running one year are typical.

Inches-A-Weigh

Chris Yates

PO Box 59346

Birmingham, AL 35255

205-870-7590, Fax 879-2106

Fitness

The 50-unit chain operates locations in LA, PA, IN, AL, NC, SC, IL, VA, TX, OH, AZ and KY. The concept, offering exercise equipment and diet plans, occupy spaces of 1,400 sq.ft. to 1,600 sq.ft. in secondary strip centers. Plans call for as many as 50 openings in the coming 18 months. Expansion will take place in FL, GA, MD, VA, MO and MN. The company is franchising.

China Jump, Inc.

dba China Jump

Steve DePetris

c/o Legend Properties

1000 Crawford Place #103

Mount Laurel, NJ 08054

609-231-1010, Fax 231-1111

Food

The four-unit chain operates locations in NJ and PA. The restaurants, serving Chinese fast food, occupy spaces of 1,500 sq.ft. to 2,200 sq.ft. in freestanding facilities and strip centers. Preferred anchors include Blockbuster Video. Plans call for as many as 12 openings in the coming 18 months. Expansion will take place in FL, GA, MD, NC and NJ. Preferred demographics include a population of 50,000 within three miles earning at least $45,000. Leases running at least five years are typical and the company prefers a vanilla shell.

Entrecept, Inc.

dba White Mountain Creamery

Gary Smith

1576 Bardstown Road

Louisville, KY 40205

502-456-1841, Fax 456-2056

Food

The 38-unit chain operates locations in CA, GA, IL, KY, MA, MD, PA, TN, TX, IN, NC, AL, OK, MO and NJ. The restaurants, selling ice cream, yogurt and bakery goods, occupy spaces of 800 sq.ft. to 1,500 sq.ft. in regional malls, specialty and strip centers. Plans call for as many as 15 openings in the coming 18 months. Expansion will take place in the East Coast, Midwestern and Southeastern regions. Preferred demographics include a population of 30,000 within three miles earning $35,000 as the average income. Leases running a total of 10 years are typical. The 12-year-old company is franchising.

Fatburger Corporation

dba Fatburger

Bentley Hetrick

1218 Third Street Promenade

Santa Monica, CA 90401

310-319-1850, Fax 319-1863

Food

The 25-unit chain operates locations in CA and NV. The restaurants, serving hamburgers, occupy spaces of 850 sq.ft. to 1,760 sq.ft. in freestanding facilities and power centers. Plans call for six openings in the coming 18 months. Expansion will take place nationwide. The 43-year-old company, which is franchising, typically signs leases running 15 years.

Levitz Furniture Corp.

dba Levitz Furniture

Rene Santamaria

6111 Broken Sound Parkway North

Boca Raton, FL 33487

407-994-5194, Fax 998-5613

Furniture

The 134-unit chain operates locations in AZ, CA, CO, CT, DE, FL, GA, IN, KS, LA, MD, MA, MN, MS, NV, NJ, NY and PA. The furniture stores occupy spaces of 40,000 sq.ft. to 45,000 sq.ft. in freestanding facilities. Plans call for four openings in the coming 18 months. Expansion will take place nationwide.

Fiesta Salons, Inc.

dba Fiesta Hair & Tanning Salons

John Mills

6363 Fiesta Drive

Columbus, OH 43235-5200

614-766-6363, Fax 766-5657

Hair Salon

The 265-unit chain operates locations in OH, IN, MI, KY and WV. The salons, offering hair and tanning services, occupy spaces of 1,200 sq.ft. in regional malls and strip centers. Plans call for 25 openings in the coming 18 months. Expansion will take place in the existing markets as well as IL.

U.S. Industries

dba Farberware

Warren Miller

1500 Bassett Avenue

Bronx, NY 10461

718-863-8000, Fax 518-0970

Housewares

The 49-unit chain operates locations nationwide. The stores, selling Farberware housewares, occupy spaces of 2,500 sq.ft. in outlet centers. Plans call for as many as 10 openings in the coming 18 months. Expansion will take place nationwide.

Don Roberto Jewelers, Inc.

dba Don Roberto Jewelers

Robert Trette

1020 Calle Recordo

San Clemente, CA 92673

714-361-6700, Fax 498-8917

Jewelry

The 40-unit chain operates locations in CA and TX. The jewelry stores occupy spaces of 1,200 sq.ft. in downtown store fronts, regional malls and strip centers. Plans call for 10 openings in the coming 18 months. Expansion will take place in AZ and Southern CA.

Trans World Entertainment

dba Coconuts, Record Town, Tape World

Bruce Eisenberg

38 Corporate Circle

Albany, NY 12203

518-452-1242, Fax 452-8179

Music

The 700-unit chain operates locations nationwide. The stores, selling cassette tapes, compact discs, records, videos and related accessories, occupy spaces of 2,700 sq.ft. to 40,000 sq.ft. in freestanding facilities, power and strip centers. Plans call for 50 openings in the coming 18 months. Expansion will take place nationwide.

Paper Warehouse

Vernon Lewis

7630 Excelsior Boulevard

Minneapolis, MN 55426

612-936-1000, Fax 936-9800

Party Supplies

The 111-unit chain operates locations in CO. The party supply stores occupy spaces of 4,000 sq.ft. to 8,500 sq.ft. in strip centers. Preferred anchors include high-profile tenants. Plans call for as many as 40 openings in the coming 18 months. Expansion will take place in the Midwestern and Southwestern regions. The company is franchising.

Jerry's Perfect Pet Shops, Inc.

dba Jerry's Perfect Pet Shops

Gerald Dove

4581 West Pichacho

Las Cruces, NM 88005

505-523-8668, Fax 523-5805

Pet Store

The 18-unit chain operates locations in NM and TX. The stores, selling pets and pet supplies, occupy spaces of 1,800 sq.ft. to 5,000 sq.ft. in regional malls and strip centers. Plans call for three openings in the coming 18 months. Expansion will take place in TX.

Wolf Camera, Inc.

dba Wolf Camera & Video, Barry's

Stephen Lamastra

1706 Chantilly Drive N.E.

Atlanta, GA 30324

404-633-9000, Fax 634-7758

Photography

The 205-unit chain operates locations in AL, CA, FL, GA, IL, LA, MS, NC, NV, TN and TX. The stores, selling photography related merchandise and offering photo processing services, occupy spaces of 1,200 sq.ft. to 2,500 sq.ft. in freestanding facilities, regional malls and strip centers. Plans call for as many as 15 openings in the coming 18 months. Expansion will take place in CA, IL and TX.

Brown's General Offices, Inc.

dba Brown Shoe Fit Co.

Tom Brown

846 Higuera Street/ Suite 2

San Luis Obispo, CA 93401

805-541-2732, Fax 541-4732

Shoes

The 10-unit chain operates locations in AZ, CA, CO and SD. The stores, selling shoes for the family at moderate price-points, occupy spaces of 1,800 sq.ft. to 10,000 sq.ft. in downtown store fronts. Plans call for one opening in the coming 18 months. Expansion will take place in either CO or UT.

Beverages & More

Matthew Alexander

455 North Point

San Francisco, CA 94133

415-474-6100

Specialty

The six-unit chain operates locations in CA. The beverage stores occupy spaces of 18,000 sq.ft. to 20,000 sq.ft. in power centers. Preferred anchors include bookstores and electronics stores. Plans call for 10 openings in the coming 18 months. Expansion will take place in Northern CA. Preferred demographics include a population of 350,000 within 10 miles. Leases running 10 years are typical.

Minuteman Press International

dba Minuteman Press

Bob Titus

1640 New Highway

Farmingdale, NY 11735

516-249-1370, Fax 249-5618

Service

The 900-unit chain operates locations nationwide. The concept, offering printing services, occupy spaces of 1,000 sq.ft. to 1,200 sq.ft. in strip centers. Plans call for 50 openings in the coming 18 months. Expansion will take place nationwide as well as in Mexico, the Caribbean and the United Kingdom.

MVP Sports Stores, Inc.

dba MVP Sports

Douglas Barron

326 Ballardville Street

Wilmington, MA 01887

508-657-0100, Fax 658-4854

Sporting Goods

The 12-unit chain operates locations in MA and NH. The stores, selling athletic clothing and footwear as well as camping, fishing, skiing, exercise and hockey equipment, occupy spaces of at least 25,000 sq.ft. in freestanding facilities and regional malls. Plans call for two openings annually. Expansion will take place in MA, ME and NH.

Olympia Sport Center

Andrew Shedlin

1014 Sheridan Road

Highland Park, IL 60035

708-433-3400, Fax 433-3593

Sporting Goods

The 40-unit chain operates locations in CT, MA, ME, NH, NY, PA and VT. The sporting goods stores occupy spaces of 4,000 sq.ft. to 5,000 sq.ft. in regional malls, power and strip centers. Growth opportunities are sought in the Eastern region.

Dueber's, Inc.

dba Dueber's

Chuck Dueber

300 Industrial Boulevard

Young America, MN 55397

612-466-2169, Fax 466-2169

Variety

The 25-unit chain operates locations in MN. The variety stores occupy spaces of 7,000 sq.ft. in downtown store fronts. Plans call for one opening in the coming 18 months. Expansion will take place in the existing market.

Buyers & Sellers of Commercial Properties

Broderick & Associates, Inc. has the listing to sell Flagship Commercial Center in Clearwater, FL. The 11,970 sq.ft. project is located at the intersection of 49th Street and 118th Avenue. The asking price is $459,900. The company also has the listing to sell Buccaneer Plaza in Pinellas Park, FL. The project contains 16 units ranging in size from 640 sq.ft. to 3,000 sq.ft. The asking price is $1.2 million.

For more information, contact Roger Broderick at (813-544-1403), Fax (541-6187).

Fidelity Mortgage is in the market to purchase triple net leased properties.

For more information, contact Thomas Vincent at (708-330-1166), Fax (330-0323).

Source Real Estate & Investment Company has the listing to sell six acres of land zoned commercial in Clinton Township, MI. The site has approvals to build up to 70,000 sq.ft. and is located near Target and Sports Authority. Financing is available. The company also has the listing to sell up to 30 acres of land in Canton, MI. The site can be divided by a minimum of nine acres and is located near Target and a Kroger Center.

For more information, contact Glenn Hirsch at (810-799-3030), Fax (799-3035).

Horizon Properties has the listing to sell Amtrust Bank Plaza in Delray Beach, FL. The project consists of a 13,000 sq.ft. strip center and a 10,000 sq.ft. office building. The major tenant is Amtrust Bank which has a new 10-year lease. The asking price is $1.3 million and financing is available.

For more information, contact Joel Benes or Jorge Alvarino at (305-350-9944), Fax (371-2621).

Coldwell Banker Forehand & Co. has the listing to sell History Junction in Appomattox, VA. The 35,000 sq.ft. project is anchored by Food Lion and is 100% occupied. The asking price is $1.7 million.

For more information, contact Rick Read at (804-847-7731), Fax (847-7746).

Agentis has the listing to sell a 28,000 sq.ft. retail site is Allentown, PA. The project is NNN leased to national and regional tenants and has strong demographics. The asking price is $2.3 million.

For more information, contact Robert Price at (610-691-5900), Fax (694-9319).

Coldwell Banker Mountain West has the listing to sell 16.21 acres of land zoned commercial in Salem, OR. The property is located near a small lake across from a recently opened Ernst Home & Garden store, BP Service Station and McDonald's. The asking price is $5 psf. The company has the listing to sell a 20,000 sq.ft. retail building in Salem, OR. The asking price is $1.1 million and financing is available. The company has the listing to sell a 998 sq.ft. retail building in Salem, OR. The project is located across from Lancaster Mall and adjacent to Target Shopping Center. The asking price is $350,000. For more information, contact Bill Frey at (503-588-3522, Ext. 321), Fax (588-3514).

HRE Properties recently purchased Carmel ShopRite Shopping Center in Carmel, NY from an affiliate of GE Capital Corp. for $7.35 million. The 126,000 sq.ft. 97% leased project is anchored by ShopRite, Jamesway, Fay's Drugs and Burger King.

For more information, contact James R. Moore at (203-863-8200), Fax (861-6755).

Grubb & Ellis has the listing to sell Westlakes Mall in San Antonio, TX. The project is anchored by Montgomery Ward, Luby's, Eckerd, Target and HEB Grocery. The asking price of $15 million is based on a 10% cap.

For more information, contact Cynthia Ellison at (210-377-1700), Fax (342-6800).

Murphy & Associates is in the market to acquire credit anchored shopping centers nationwide. Projects with large vacancies will be considered.

For more information, contact Bob Sutton at (219-426-4704), Fax (424-3615).

MJB Real Estate Services Corp. has the listing to sell Chili-Paul Plaza in Rochester, NY. The 128,000 sq.ft. 90% leased project is anchored by Big M Market, Radio Shack, Blockbuster Video and Monroe Muffler. The asking price is $5.5 million. An additional 3.26 acres of land at the project is also available for sale. The asking price is $600,000.

For more information, contact Daniel Johnson or Barry Guilfoile at (203-222-6200), Fax (222-6202).

The Carlton Group, Ltd. is auctioning 16 surplus, former Chevron services stations and land-bank sites in Southern CA, AZ, NM and NV. The properties will be sold in a sealed-bid format and bids are due at The Carlton Group's office no later than November 21.

For more information, catalogues and due diligence packages, call 1-800-418-2100.

H. Stephen Kirschner, Inc. has the listing to sell a 250,000 sq.ft. fully leased retail/office complex in the Northeast. The project is anchored by a supermarket and discount department store, has below market rents and pad site development is possible. The asking price is based on a 9.5%+ cap. The project can be bought separately or with $100 million portfolio of like product and location. The company has the listing to sell a Circuit City portfolio on the East Coast. The portfolio includes 22 year lease terms with two 10-year options, 10% base rent increase during option periods. NNN leased. The asking price is based on a 9% cap with the buyer to pay 2% brokerage. The company has the listing to sell a 350,000 sq.ft. power center in northwest TX. The recently completed project is 90% leased to long term, credit tenants. The asking price is based on a 9.5% cap. The company has the listing to sell a 450,000 sq.ft. power center in Southern CA. The recently redeveloped project has a 70% credit tenancy. The asking price is based on a 9% cap. The company is in the market to purchase net leased properties nationwide. Properties of interest are single tenant retail, BBB credit or better, 15+ years minimum remaining on leases. Preferred properties have 20+ year remaining on leases and portfolios are preferred as well. Transactions can be all cash or through financing. Net leased office and industrial properties are also of interest.

For more information, contact H. Stephen Kirschner at 516-462-2200), Fax (499-3322).

Oxford Real Estate Services Group, Inc. has the listing to sell nine acres in Hartford, CT. The asking price is $3 million. The company also has the listing to sell 14 acres of land in Windsor, CT. The asking price is $135,000 per acre.

For more information, contact Robert Berke at (203-222-3939), Fax (222-3944).

RMI has the listing to sell a 208,000 sq.ft. shopping center in northeast PA. The 100% leased project is anchored by Kmart and Grand Union. The asking price of $16 million is based on a 10% cap. Financing is possible.

For more information, contact Peter Kellner at (201-568-6875), Fax (568-6766).

Re/Max of Owosso has the listing to sell 3.57 acres of lane in Durand, MI. The site is located at the interchange of I-69 & M-71 adjacent to a Hardee's restaurant. All utilities are available. The asking price is $550,000.

For more information, contact Richard Harsh at (517-725-9118), Fax (725-6531).

Lease Signings

Mid-America Real Estate Group (708-954-7300) leased the following spaces to Strouds the Linen Expert: 20,000 sq.ft. at Stratford Square in Bloomingdale, IL; 27,000 sq.ft. at Old Orchard Center in Skokie, IL; 20,000 sq.ft. in Chicago, IL; 15,000 sq.ft. at Woodfield Village Green Shopping Center in Schaumberg, IL; 19,000 sq.ft. at Townline Commons Shopping Center in Vernon Hills, IL; and 25,000 sq.ft. at Heritage Square Shopping Center in Naperville, IL.

BriJus Property Company (312-759-3340) leased 10,000 sq.ft. to Trabert & Hoeffer for a jewelry store in Chicago, IL.

Divaris Real Estate, Inc. (804-497-2113) leased 21,000 sq.ft. to Sneaker Stadium in Virginia Beach, VA; 2,283 sq.ft. to Manhattan Bagel at Pembroke Meadows Shopping Center in Virginia Beach, VA; 2,427 sq.ft. to Williamsburg Art and 1,525 sq.ft. to Nails By Design at The Gallery Shops in Lightfoot, VA.

AmCap Properties, Inc. (303-321-1500) leased 1,014 sq.ft. to Capitol Deli and 1,200 sq.ft. to Mid-Valley Travel at Orchard Plaza in El Jebel, CO; 666