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The
Dealmakers Issue Number 43 for the week of December 1, 1995. Convenience
Stores Shop for Sites Breez-in
Convenience Stores trades as Breez-in at 15 locations in VA. The convenience stores occupy spaces of 1,800
sq.ft. to 2,300 sq.ft. in freestanding facilities. Plans
call for as many as two openings in the coming 18 months.
Expansion will take place in the existing market. For more information, contact David Bogese,
Breez-in Convenience Stores, 14000 North Enon Church Road, Chester, VA 23831;
804-796-9306, Fax 748-8692. BP Oil
Company trades as BP Express at 47 locations in AL, OH and SC. The convenience stores/gasoline stations, occupy
spaces of 1,800 sq.ft. to 2,700 sq.ft. in freestanding facilities. Plans call for 50 openings in the coming 18
months. Expansion will take place east of the
Mississippi River. The company's new units
are larger and offer an on-site bakery, in-store restrooms and ATMs. For more information, contact Greg Covelli, BP Oil
Company, 200 Public Square 9-3851, Cleveland, OH 44114; 216-586-2299, Fax 586-8105. Besche
Oil Co. does business as Quick Shops at eight locations in MD and VA. The convenience stores occupy spaces of 2,000
sq.ft. in freestanding facilities. Plans call
for two openings in the coming 18 months. Expansion
will take place in MD. For more information, contact Don Frankewitz,
Besche Oil Co., PO Box 277, Waldorf, MD 20604; 301-843-3868, Fax 645-8727. Feather
Petroleum Co. trades as Stop-N-Save at 10 locations in CO.
The convenience stores occupy spaces of 800 sq.ft. to 2,400 sq.ft. in freestanding
facilities. Plans call for one opening in
the coming 18 months. Expansion will take
place in the existing market. The company is
looking for a 2,400 sq.ft. space. For more information, contact Larry Feather,
Feather Petroleum Co., 2492 Industrial Boulevard, Grand Junction, CO 81505; 303-242-5205,
Fax 245-8093. Quika'va
Gourmet Coffees 'N More operates seven locations in MA and NH. The convenience stores, serving gourmet coffee in
drive-thru units, occupy spaces of 650 sq.ft. in freestanding facilities. Growth opportunities are sought in CT, MA, NH, NY
and RI. For more information, contact Fred Kempton,
Quika'va Gourmet Coffees 'N More, c/o American Commercial Real Estate, 10 Kearney Road/
Suite #301, Needham, MA 02194; 617-444-7500, Fax 449-2804. Store
24 Companies trades as Store 24 at 104 locations in CT, MA, NH, NY and RI. The convenience stores occupy spaces of 2,550
sq.ft. in downtown store fronts and freestanding facilities. Plans call for six openings in the coming 18
months. Expansion will take place in the
existing markets. For more information, contact Ken Auclair, Store
24 Companies, 184 Riverview Avenue, Waltham, MA 02254; 617-891-8880, Fax 647-0320. Tri-Lakes
Petroleum does business as Prime Time Stores at 24 locations in AR, KS and MO. The convenience stores occupy spaces of 2,000
sq.ft. in freestanding facilities. Plans
call for as many as six openings in the coming 18 months.
Expansion will take place in KS. For more information, contact Steve Wood,
Tri-Lakes Petroleum, Highway 76 East, Branson, MO 65616; 417-334-3940, Fax 334-7042. Buyers
& Sellers of Commercial Properties Best
Buy Co., Inc. is selling and/or subleasing its surplus properties nationwide. The sites, which range in size from 9,364 sq.ft.
to 58,741 sq.ft. as well as two land parcels, are located in West Little Rock, AR;
Fullerton and Torrance, CA; four sites in Chicago, IL; two sites in Des Moines, IA;
Saginaw and Southfield, MI; Brooklyn Center, Rochester and West St. Paul, MN; two sites
each in Kansas City and St. Louis, MO; Lincoln, NE; Raleigh, NC; two sites in Tulsa, OK;
Willow Grove, PA; Spartanburg, SC; Beaumont, Laredo, two sites in Dallas and four sites in
Houston, TX; and Milwaukee, WI. For more information, contact Marty Krogman at
(612-947-2813) or Jean Murdock at (612-947-2046). Grubb
& Ellis has the listing to sell a 12-acre development site in Waukegan, IL. The site is located on Route 131 and is adjacent
to Grandview Court which is anchored by Jewel/Osco and Blockbuster Video. For more information, contact A. Rick Scardino at
(708-390-8050, Ext. 873). Weingarten
Realty Investors is in the market to acquire discount, soft-goods or supermarket anchored
community or neighborhood shopping centers in the Midwestern, Southeastern and
Southwestern regions. Preferred projects
have GLAs between 75,000 sq.ft. and 400,000 sq.ft. and are located at major intersections
of two thoroughfares in trade areas having a population of at least 50,000. Properties which value can be added through
lease-up, remerchandising or renovation will be considered. For more information, contact M. Candace DuFour at
(713-866-6000). Block
& Company, Inc. has the listing to sell Belt Plaza Shopping Center in St. Joseph, MO. The 87,476 sq.ft. project has a vacant 50,840
sq.ft. former supermarket for which the leasee is paying base rent and all net charges. The project is expandable. For more information, contact Gene Moffitt at
(816-531-1400), Fax (932-5599). CenterAmerica
Property Trust L.P. is in the market to acquire community shopping centers in the
Dallas-Fort Worth, Houston, Austin, San Antonio and Rio Grande Valley, TX areas. Properties of interest have GLAs of at least
100,000 sq.ft., located at a major intersection in urban and suburban areas with a stable
or improving demographic profile and have at least one anchor tenant occupying a space
compatible with or expandable to current prototype size of major retailers. Projects that can be redeveloped, repositioned,
expanded or released are of interest. Large
portfolios are also of interest. For more information, contact Jeffrey L. Moore or
Peter C. Tomassich at (713-665-2511), Fax (349-0901). New
Plan Realty Trust is in the market to acquire conventional strip centers having GLAs of at
least 75,000 sq.ft. and factory outlet centers having GLAs of at least 150,000 sq.ft. in
the eastern, midwestern and CA regions. All
cash deals are possible and the company will consider existing financing. For more information, contact New Plan Realty
Trust at (212-869-3000). Chase
Properties is in the market to acquire anchored strip shopping centers having GLAs of at
least 150,000 sq.ft. nationwide, exclusive of the West Coast. Properties with vacancies are of interest provided
that the location is good and the center is well anchored.
R.E.O. properties are also of interest. New
development deals will be considered. For more information, contact David Palchesko at
(216-464-6626), Fax (464-6346). Vision
Realty Partners, Ltd. has the listing to sell a 37,300 sq.ft. retail center in Schaumburg,
IL. The project is 95% leased and the asking
price is $2.6 million. For more information, contact Bruce Teitelbaum at
(708-568-0100), Fax (568-0117). Commercial
Florida Realty Partners has the listing to sell a 122,000 sq.ft. shopping center in
Columbia, SC. The project is located adjacent
to a 92,000 sq.ft. Target. The asking price
is $5 million. The company also has the
listing to sell a 250,000 sq.ft. power center in central FL. The project is 87% anchored and has an NOI of $1.5
million. The asking price is $14 million. For more information, contact Fred Sasso at
(407-995-5150), Fax (995-2290). United
Commercial Realty brokered the sale of a 25,000 sq.ft. project in Mesquite, TX. The project was purchased by Gold's Gym from Food
Lion, Inc. Grubb & Ellis represented the
seller. For more information, contact Paul Burkhart at
(214-526-6262), Fax (523-0800). Oxford
Real Estate Services Group, Inc. has the listing to sell 6.6 acres of development space in
Orange, CT. The asking price is $2.5 million. The company also has the listing to sell 32 acres
of land in Hammonton, NJ. The asking price is
$90,000 per acre. For more information, contact Michael Berke at
(203-222-3939), Fax (222-3944). Summit
Realty has the listing to sell a 23,000 sq.ft. shopping center with a 4,000 sq.ft.
freestanding restaurant in Tamarac, FL. The
project is located on Rt. 441. The asking
price is $1.525 million and financing is possible. The
company also represents a restaurant chain in the market to acquire a 3,000 sq.ft.
freestanding facility. For more information, contact Camille or Frank
Gulisano at (407-368-2043), Fax (392-2551). Cushman
& Wakefield of MA has the listing to sell 20 acres of land in Portsmouth, RI. The property consists of a 10 acre site approved
for an 85,000 sq.ft. strip center and 10 acres that is being marketed for an assisted
living complex. Some site work has been
completed and many of the permits have been approved.
The asking price for the retail portion of the property is $1.5 million. For more information, contact Richard Diamond or
Kelly Byrne at (617-227-3856), Fax (330-9499). Sterling
Realty Services L.C. has the listing to sell a 100,000 sq.ft. anchored shopping center in
North Palm Beach, FL. The project is 87%
occupied. The asking price is $7.6 million. The company is in the market to acquire
institutional quality commercial retail properties with the potential to appreciate 20% to
30% in a two to three year period. Properties
having a 75% to 80% occupancy rate are of interest. For more information, contact Roxanne Register at
(407-835-1810), Fax (833-4118). Who's
Opening and Where... JC
Penney (214-431-1000) recently opened a 35,200 sq.ft. store at East Brook Mall in
Willimantic, CT and a 36,350 sq.ft. JC Penney Home Store at Willow Springs Plaza in
Nashua, NH. Brendle's
(910-526-5600) recently opened the largest unit of the 32-store chain at the Galleria Mall
in Rock Hill, SC. The store opened in the
former Phar-Mor location which closed in 1992. The
store carries sporting goods, jewelry, housewares, electronics and luggage, and features
three specialty areas; Fun Land, where children can try out toys before parents buy them,
Party Universe, which offers party supplies and decorations, and the Idea Shop which is
designed to give shoppers ideas for gifts. The
Rock Hill store marks the final opening by the company for 1995. Dunkin
Donuts (908-422-7000) recently opened stores in Cherry Hill, Colonia, Irvington, Trenton,
Roselle, Clifton, Hamilton, Neptune and at Middlesex County Community College in
Middlesex, NJ. The company also opened two
units in Philadelphia, PA. The company,
which currently operates 3,000 units nationwide, is looking to double that number by the
year 2000. Barnes
& Noble, Inc. (212-633-3512) recently opened a 30,000 sq.ft. bookstore in El Paso, TX;
a 30,000 sq.ft. store in Freehold, NJ; a 28,000 sq.ft. unit in Daytona Beach, FL; a 25,000
sq.ft. store in Midland, TX; a 35,000 sq.ft. store in Topeka, KS; a 25,000 sq.ft. store in
Vancouver, WA; a 25,000 sq.ft. store in Federal Way, WA and an 18,000 sq.ft. store in
Ocala, FL. Sonic
Corp. (405-280-7654) recently opened a drive-in restaurant in Lexington, KY. The company operates 1,470 units in 27 states. Sneaker
Stadium (908-248-9090) recently opened its first outlet at a site near Lynnhaven Mall in
Virginia Beach, VA. The company is planning
to open two more units in the area within the coming year. General
Nutrition Centers (412-288-4621) recently opened a new concept store called Alive at
Altamonte Mall in Orlando, FL. The store is
part drugstore, part spa and part library and combines nutritional products with exercise
and relaxation products. Target
(612-370-6073) recently opened its second SuperTarget, a 167,500 sq.ft. unit in Lawrence,
KS. The company plans to open a third unit of
186,000 sq.ft. in Newport News, VA next year and is planning 19 more units. Kmart
(810-643-1000) plans to open smaller Super Kmart Centers in areas that have low population
counts. Genovese
Drug Stores (516-420-1900) recently opened units in Lynbrook, Manhattan, Flushing,
Westbury, Massapequa and Glen Cove, NY. The
company, which currently operates 119 units in CT, NJ and NY, plans to open new store
annually at a rate equal to 10% of the total number of stores. TGI
Friday's, Inc. (214-450-5400) plans to open five Italianni's restaurants in the Cleveland,
OH area over the next five years through its franchisee Rich Restaurant Group. Lead
Sheet Austins
Steaks & Saloon, Inc. dba
Austins Steaks & Saloon Sydney
Sweet 6940 O
Street/ Suite 334 Lincoln,
NE 68510 402-466-1979,
Fax 466-3579 Food The
seven-unit chain operates locations in MO, NE and NM.
The restaurants occupy spaces of 5,500 sq.ft. to 6,500 sq.ft. in freestanding
facilities. Growth opportunities are sought
in AZ. Bean
East dba
Kiari's Coffee Source Tom
Tucker 102-D
Executive Drive Sterling,
VA 20166 703-904-0777,
Ext. 13 Food The
two-unit chain operates locations in VA. The
coffee shops occupy spaces of 1,300 sq.ft. in downtown store fronts and regional malls. Plans call for as many as 10 openings in the
coming 18 months. Expansion will take place
in MD, VA and Washington, D.C. The company is
currently looking for spaces of 1,800 sq.ft. in locations with high foot traffic. Bread
& Chocolate, Inc. dba
Bread & Chocolate Ernest
Moser 1033
West Glebe Road Alexandria,
VA 22305 703-549-7524,
Fax 836-7021 Food The
seven-unit chain operates locations in VA and Washington, D.C. The cafes feature a bakery and serve soup and
sandwiches while using spaces of 1,500 sq.ft. to 1,800 sq.ft. in strip centers. Preferred locations have office and residential
density. Growth opportunities are sought in
MD and Washington, D.C. The company is
looking for spaces up to 2,000 sq.ft. Chick-Fil-A,
Inc. dba
Chick-Fil-A Bureon
Ledbetter 5200
Buffington Road Atlanta,
GA 30349 404-765-8010,
Fax 765-8941 Food The
550-unit chain operates locations nationwide. The
fast-food restaurants, specializing in chicken sandwiches and products, occupy spaces of
750 sq.ft. to 3,000 sq.ft. in freestanding facilities, power centers and regional malls. Plans call for 45 openings in the coming 18
months. Expansion will take place in TX, NC,
SC, GA, FL, VA, MD, AL, TN, PA and CO. Comida
Corporation dba Mi
Amigos Noel
Candland 1307
East Southern/ Suite D Mesa,
AZ 85204 602-892-7955,
Fax 892-1281 Food The
three-unit chain operates locations in AZ. The
Mexican restaurants occupy spaces of 4,200 sq.ft. in strip centers. Growth opportunities are sought in the existing
market. Cooker
Restaurants Arthur
Seelhinder PO Box
11448 West
Palm Beach, FL 33419 407-615-6000,
Fax 615-6001 Food The
35-unit chain operates locations in FL, OH, MI, IN, TN, KY, GA, VA, NC and MD. The restaurants, serving American cuisine, occupy
spaces of 7,500 sq.ft. in freestanding facilities. Growth
opportunities are sought in the Midwestern and Southeastern regions. Cornett
Management Co., Inc. dba
Topeka's Steakhouse 'N Saloon James
Cornett, Jr. PO Box
838 Culpepper,
VA 22701 703-825-6444,
Fax 829-1070 Food The
one-unit chain operates a location in VA. The
restaurant occupies a 7,000 sq.ft. freestanding facility.
Plans call for six openings in the coming 18 months.
Expansion will take place in MD, NC and VA. Cozzoli's
Pizza Systems, Inc. dba
Cozzoli's Pizza Merril
Lamb 4770
Biscayne Boulevard/ Suite 1400 Miami,
FL 33137 305-576-1922,
Fax 576-8831 Food The
60-unit chain operates locations in FL, VA, TN, NY, OK, IN, AR, TX, CA, CO and Washington,
D.C. The fast food restaurants, serving
pizza, occupy spaces of 600 sq.ft. to 1,200 sq.ft. in regional malls. Plans call for six openings in the coming 18
months. Expansion will take place nationwide. Cucina
Holdings dba
Java City Dennis
Bartel 717W
Del Paso Road Sacramento,
CA 95824 916-565-5500,
Fax 565-5519 Food The
55-unit chain operates locations in AZ, CA, CO and PA.
The restaurants, specializing in French cooking, occupy spaces of 2,500 sq.ft. in
freestanding facilities and end caps of strip centers.
Plans call for three openings in the coming 18 months. Expansion will take place in CA. Expresso
Termini Laura
Scobel 1611
North Federal Highway Fort
Lauderdale, FL 33305 305-568-6828 Food The
three-unit chain operates locations in FL. The
gourmet coffee stores occupy spaces of 600 sq.ft. to 800 sq.ft. in kiosks at regional
malls and in-line stores. Growth
opportunities are sought in the Southeastern region. Hardee's
Food Systems, Inc. dba
Hardee's John
Carty 1233
Hardee's Boulevard Rocky
Mount, NC 27801 919-977-2000,
Fax 450-5730 Food The
3,941-unit chain operates locations nationwide. The
fast food restaurants, serving hamburgers and fries, occupy spaces of 3,600 sq.ft. in
freestanding facilities and regional malls. Plans
call for 100 openings in the coming 18 months. Expansion
will take place nationwide. Jreck
Subs, Inc. dba
Jreck Subs Gary
Baker PO Box
6 Watertown,
NY 13601 315-782-0760,
Fax 788-8954 Food The
57-unit chain operates locations in NY. The
restaurants, serving submarine sandwiches and hot foods, occupy spaces of 1,800 sq.ft. in
freestanding facilities and strip centers. Growth
opportunities are sought in the existing market. K-Bob's
USA, Inc. dba
K-Bob's Louis
Gray 1601
Randolph Road SE/ Suite 220 Albuquerque,
NM 87106 505-242-8403,
Fax 764-0492 Food The
42-unit chain operates locations in CO, KS, NM, OK and TX.
The steak houses occupy spaces of 7,000 sq.ft. in freestanding facilities. Plans call for eight openings in the coming 18
months. Expansion will take place in CO, KS,
NM and TX. O'Charley's,
Inc. dba
O'Charley's Wayne
Browing 3038
Cidco Drive Nashville,
TN 37204 615-256-8500,
Fax 726-6032 Food The
61-unit chain operates locations in 12 states. The
casual dinner houses occupy spaces of 6,500 sq.ft. in freestanding facilities. Plans call for 12 openings in the coming 18
months. Expansion will take place in AL, GA,
IN, OH and TN. On The
Border Cafes Doug
Alcott 6820
LBJ Freeway Dallas,
TX 75240 214-770-9322,
Fax 770-9467 Food The
14-unit chain operates locations in CO, FL, MO, TN and TX.
The Mexican restaurants occupy spaces of 7,500 sq.ft. in freestanding facilities,
regional malls, power and specialty centers. Plans
call for six openings in the coming 18 months. Expansion
will take place nationwide. Padow's
Hams and Deli, Inc. dba
Padow's Hams and Deli Sidney
Padow 4925
West Broad Street Richmond,
VA 23230 804-358-4267,
Fax 355-3213 Food The
four-unit chain operates locations in VA. The
stores, selling a full line of ham and deli items, occupy spaces of 1,500 sq.ft. in
freestanding facilities and outdoor malls. Growth
opportunities are sought in MD, NC and VA. The
company is franchising. Papa
Gino's, Inc. dba
Papa Gino's Director
of Real Estate 600
Providence Highway Dedham,
MA 02026 617-461-1200,
Fax 461-1896 Food The
180-unit chain operates locations in CT, FL, MA, ME, NH, NY, RI and VT. The restaurants, serving Italian food, occupy
spaces of 2,500 sq.ft. to 3,000 sq.ft. in a variety of real estate settings. Growth opportunities are sought in MA and NH. Port
of Subs, Inc. dba
Port of Subs John
Larsen 5365
Mae Anne Avenue/ Suite A-29 Reno,
NV 89523 702-747-0555,
Fax 747-1510 Food The
75-unit chain operates locations in CA, NV and WA. The
fast food restaurants occupy spaces of 1,000 sq.ft. to 1,500 sq.ft. in freestanding
facilities and strip centers. Plans call for
as many as 15 openings in the coming 18 months. Expansion
will take place in CA, CO, ID, UT and WA. Pretzel
Twister Keith
Johnson 2706
South Horseshoe Drive #112 Naples,
FL 33942 813-643-2075 Food The
15-unit chain operates locations in FL, KY, MA, NC, TN, TX and Canada. The stores, featuring hand-rolled gourmet soft
pretzels and fruit drinks, occupy spaces of 300 sq.ft. to 800 sq.ft. in regional malls. Plans call for 100 openings in the coming 18
months. Expansion will take place throughout
North America. The company is franchising. Rainforest
Cafe, Inc. dba
Rainforest Cafe Ken
Brimmer 720
South Fifth Avenue Hopins,
MN 55343 612-449-7088,
Fax 945-5444 Food The
two-unit chain operates locations in IL and MN. The
restaurants, which also feature a 5,000 sq.ft. retail area, occupy spaces of 15,000 sq.ft.
to 25,000 sq.ft. in regional malls and urban entertainment centers. Growth opportunities are sought in FL and VA. Stoico
Restaurant Group dba
Spaghetti Jacks Brad
Saville 3151
North Rock Road Wichita,
KS 67226 316-636-5776,
Fax 636-2871 Food The
six-unit chain operates locations in KS, MO and SD.
The Italian restaurants occupy spaces of 3,000 sq.ft. to 3,500 sq.ft. in power,
specialty and strip centers. Plans call for
20 openings in the coming 18 months. Expansion
will take place nationwide. Sub
& Stuff Sandwich Shops, Inc. dba
Sub & Stuff Louis
Stoico, Jr. 1861
North Rock Road/ Suite 202 Wichita,
KS 62067 316-683-7766;
683-6194 Food The
20-unit chain operates locations in KS. The
Italian delis occupy spaces of 1,000 sq.ft. to 1,500 sq.ft. in strip centers. Growth opportunities are sought in the Midwestern
region for corporate units, and nationally for franchised units. Subway Lisa
Oaks 325
Bic Drive Milford,
CT 06460 203-878-2791,
Fax 876-6692 Food The
11,000-unit chain operates locations nationwide. The
sandwich shops occupy spaces of 1,000 sq.ft. in a variety of real estate settings. Plans call for 1,500 openings in the coming 18
months. Expansion will take place nationwide. Space
Place California Atascadero- Kmart Atascadero Center is anchored by Kmart and
Payless Shoes. The 84,802 sq.ft. project has
spaces of 1,062 sq.ft., 1,240 sq.ft. and 1,288 sq.ft. available for lease. The site fronts
U.S. 101. Demographics include a five-mile
population of 24,819 earning $32,831 as the average family income. In Atwater- Kmart
Shopping Center is anchored by Kmart and Fashion Bug.
The 109,798 sq.ft. project has a 1,310 sq.ft. space available for lease. Demographics include a five-mile population of
38,845 earning $31,999 as the average family income.
In Lakeport- A 55,552 sq.ft. former
Kmart and a 13,800 sq.ft. retail pad are available for lease. Demographics include a five-mile population of
11,123 earning $25,440 as the average family income.
In Reedley- Reedley Shopping Center is
anchored by Kmart and Radio Shack. The 72,655
sq.ft. project has four space of 1,400 sq.ft. each available for lease. Demographics include a five-mile population of
34,216 earning $24,356 as the average family income.
In Sacramento- Kmart Sacramento
Center is anchored by Kmart and Payless Shoes. The
105,053 sq.ft. project has a 3,048 sq.ft. space available for lease. Demographics include a five-mile population of
205,552 earning $24,218 as the average family income.
In Tracy- Gran Trace Center is
anchored by Kmart. The 90,648 sq.ft. project
has spaces of 1,400 sq.ft. and 3,010 sq.ft. available for lease. Demographics include a five-mile population of
37,024 earning $32,831 as the average family income. For details, contact Len Gold of Philips
International at (212-951-3811), Fax (545-1355). Florida New
Port Richey- Southgate Shopping Center is
anchored by Publix Supermarket, Beall's Department Store, Levitz Furniture, Big Lots and
Eckerd Drug. Space is available for a fifth
anchor tenant. Demographics include a
five-mile population of 113,349 earning $35,635 as the average household income. For details, contact Chase Properties at
(216-464-6626). Illinois Arlington
Heights- An 18,971 sq.ft. former Michaels
store is available for lease. In Downers
Grove- A 10,000 sq.ft. former Michaels store
is available for lease. In Glendale Heights- An 18,890 sq.ft. former Michaels store is
available for lease. In Hoffman Estates- A 17,590 sq.ft. former Michaels store is available
for lease. For details, contact Terry Kittleson of Trammell
Crow Company at (214-979-5227), Fax (979-6040). Buffalo
Grove- Woodland Commons is anchored by
Dominick's Finer Foods and Sears. The 170,604
sq.ft. project has spaces of 16,335 sq.ft. and 30,628 sq.ft. available for lease. Demographics include a trade area population of
50,596 earning $83,827 as the average household income. For details, contact First Union Management, Inc.
at (216-781-4030). Hanover
Park- A 37,800 sq.ft. anchor space is
available for lease at Greenbrook Plaza. Demographics
include a five-mile population of 266,254 earning $62,900 as the median household income. For details, contact DK/Carlson at (800-736-8999). Indiana Anderson- Applewood Centre is anchored by Pay Less
Supermarket and Target. The 181,170 sq.ft.
project has a 1,600 sq.ft. in-line space and two outlots available for lease. Also in Anderson-
Charles Street Center is anchored by Kmart. The
135,000 sq.ft. project has spaces from 1,600 sq.ft. to 10,000 sq.ft. as well as three
outlots available for lease. Also in
Anderson- Cross Street Center is anchored by
Pay Less Supermarket. The 110,000 sq.ft.
project has a 27,000 sq.ft. space and four outlots available for lease. Also in Anderson-
Nichol Avenue Center is anchored by Pay Less Supermarket. The 160,200 sq.ft. project has an 18,000 sq.ft.
space and two outlots available for lease. In
Avon- Avon Crossing is anchored by Revco and
Brewer Furniture. The 41,600 sq.ft. project
has an 18,400 sq.ft. space and five outlots available for lease. Also in Avon-
Up to 75,000 sq.ft. is available in the phase III expansion of Avon Station. In Indianapolis-
Castle Creek Plaza is anchored by Marsh Supermarket and Osco Drug. The 76,753 sq.ft. project has a 6,857 sq.ft. space
available for lease. Also in Indianapolis- Keystone Plaza is anchored by Target, Revco and
Marsh Supermarket. The 187,300 sq.ft. project
has a 3,000 sq.ft. space available for lease. Also
in Indianapolis- Lockefield Commons is
anchored by Taco Bell, Bruegger's Bagels and Subway.
The 21,000 sq.ft. project has a 12,000 sq.ft. space and two outlots available for
lease. Also in Indianapolis- The Meadows is anchored by Cub Foods. The 120,000 sq.ft. project has a 55,000 sq.ft.
space and three outlots available for lease. Also
in Indianapolis- Nora Plaza is anchored by
Target and Flower City. The 320,739 sq.ft.
project has a 30,000 sq.ft. space available for lease.
In Lafayette- Tippecanoe Court is
anchored by Pay Less Supermarket, Electric Avenue and T.J. Maxx. The 350,000 sq.ft. project, which is currently
under development, has 180,000 sq.ft. available for lease.
In Plainfield- Plainfield Plaza is
anchored by Kroger. The 59,148 sq.ft.
project has a 5,000 sq.ft. space available for lease. For details, contact The Linder Company at
(317-844-5313), Fax (574-3135). Kansas Olathe- Anchor space is available at a shopping center
currently under development. Demographics
include a trade area population of 112,255 earning $66,320 as the average income. In Overland Park-
Price Chopper Center is anchored by Price Chopper.
The project has two 30,000 sq.ft. anchor spaces, in-line and outlot spaces
available for lease. Demographics include a
trade area population of 136,829 earning $70,065 as the average income For details, contact Licausi-Styers Company at
(913-681-5888), Fax (681-7869). Mississippi Laurel- Sawmill Square is anchored by McRaes and J.C.
Penney. The 350,000 sq.ft. project has spaces
available for lease. For details, contact Marc Dusang of Sizeler Real
Estate Management Company, Inc. at (504-471-6200). Missouri Joplin- A 71,000 sq.ft. former Sears store is available
for lease. The project is also tenanted by
8-Plex Cinema, Westlake Hardware and Sonic Drive-in.
In Kansas City- A 3,238 sq.ft. space
is available for lease. For details, contact David Block (former Sears) or
Michael Moffitt of Block & Company, Inc. at (816-531-1400), Fax (932-5599). Ohio Dayton- Northmont Plaza Shopping Center is anchored by
Aldi Foods, Odd Lots, Rite Aid and Fashion Bug. The
140,000 sq.ft. project has spaces available for lease.
Demographics include a trade area population of 65,000 earning $40,000 as the
average household income. For details, contact Eastland Properties at
(617-444-7900). Middleburg
Heights- A 10,000 sq.ft. ground lease is
available. The site fronts Pearl Road which
generates a daily traffic county of 22,732 vehicles.
Demographics include a three-mile population of 242,525 earning $44,951 as the
average household income. For details, contact Randy Goodman or Richard
Edelman at (216-464-5900). Oregon Klamath
Falls- Klamath Mall us anchored by J.C. Penny
and Gottschalk's. The 316,000 sq.ft. project
has spaces available for lease ranging from kiosks to 65,000 sq.ft. For details, contact Paul Manza, principal at
(914-294-1500), Fax (924-1507). Portland- Plaza 205 is anchored by OfficeMax, Party Depot
and Old Country Buffet. The 167,665 sq.ft.
project has a 2,500 sq.ft. space available for lease.
Demographics include a trade area population of 377,952 earning $34,968 as the
average household income. For details, contact First Union Management, Inc.
at (216-781-4030). Texas Austin- A 14,650 sq.ft. former McDuff Electronics is
available for lease at Lakehills Plaza. In
San Antonio- Thousand Oaks Shopping Center is
anchored by Midnight Rodeo. The 67,345 sq.ft.
project has spaces of 1,375 sq.ft., 1,625 sq.ft., 3,500 sq.ft. and 5,379 sq.ft. available
for lease. Demographics include a five-mile
population of 196,301 earning $45,378 as the average income. Also in San Antonio- Trendsetters Shopping Center is anchored by Pier 1
Imports. The 54,570 sq.ft. project has spaces
of 2,241 sq.ft. and 2,868 sq.ft. available for lease.
Demographics include a five-mile population of 145,185 earning $52,809 as the
average income. For details, contact Don Thomas of Trammell Crow
at (210-225-1000), Fax (223-9647). Houston- Greenspoint Mall is anchored by Foley's, Sears,
J.C. Penney, Montgomery Ward, Dillard's and Mervyn's.
The 1.7 million sq.ft. project has spaces available for lease. Demographics include a five-mile population of
173,080 earning $36,140 as the average household income. For details, contact Terranomics Retail Services,
Inc. at (415-474-6100). Washington Port
Angeles- Port Angeles Kmart Center is
anchored by Kmart and Fashion Bug. The 89,128
sq.ft. project has spaces of 1,107 sq.ft. and 1,400 sq.ft. available for lease. Demographics include a ten-mile population of
32,014 earning $26,765 as the average family income.
In Port Orchard- Port Orchard
Shopping Center is anchored by Kmart, Payless Shoes and Radio Shack. The 69,547 sq.ft. project has a 1,346 sq.ft. space
available for lease. Demographics include a
ten-mile population of 140,696 earning $29,687 as the average family income. For details, contact Len Gold of Philips
International at (212-951-3811). West
Virginia Morgantown- Mountaineer Mall is anchored by Montgomery Ward,
Stone & Thomas, U.S. Factory Outlets and Wal*Mart.
The 673,922 sq.ft. project has a 9,310 sq.ft. outparcel available for lease. Demographics include a trade area population of
138,133 earning $29,782 as the average household income. For details, contact First Union Management, Inc.
at (216-781-4030). Wisconsin Janesville- Janesville Mall is anchored by J.C. Penney, Kohl's
and Bergner's. The 500,000 sq.ft. project has
spaces available for lease. Demographics
include a trade area population of 250,000 earning $43,837 as the average household
income. For details, contact Bobby Benjamin of Samuels
& Associates at (216-464-3350). Financial
News... Uni-Marts,
Inc. (814-234-6000) reported that net earnings for fiscal 1995, ended September 30,
increased 13.3% to $4.153 million compared to $3.665 million in fiscal 1994. Revenues increased to $327 million from $326.6
million and comparable store sales increased one percent.
The company currently operates 414 convenience stores in PA, VA, NY, NJ, DE and MD. Checkers
Drive-in Restaurants, Inc. (813-441-3500) reported that its third quarter revenues fell
15% to $44.3 million compared to $52.2 million during the same period last year. Company-owned restaurant sales fell 11% to $42.1
million from $47.4 million last year, but system-wide sales increased four percent to
$93.6 million, up from $90.3 million. The
company also reported a third quarter loss of $7.3 million compared to earnings of
$387,000 last year. The company plans to
roll-out its test of dual-branded LA MEX-Checkers units in the Tampa, St. Petersburg and
Sarasota, FL markets during 1996. During the
fourth quarter, the company plans to open as many as five units and its franchisees plan
to open as many as 24 units. Currently, the
company operates and franchises 494 units in 23 states. Stop
& Shop Companies, Inc. (617-380-8000) plans to sell 17 of its Purity Supreme
supermarkets as part of a settlement agreement with the Federal Trade Commission. The units are all located in MA. Wendy's
International (614-764-3099) reported that its net income for the third quarter was $36.1
million, an increase of 21% over $29.8 million during the same period last year. Revenues for the quarter increased to $389 million
from $359 million last year and systemwide sales increased 7.1% to $1.2 billion compared
to $1.1 billion last year. During the
quarter, the company opened 100 restaurants and currently operates 4,587 units throughout
North America and 32 countries. Pacific
Sunwear of California, Inc. (714-701-4063) reported that its net sales during the third
quarter increased 31% to $31.4 million compared to $23.9 million during the same quarter
last year. Comparable store sales fell one
percent. During the quarter, the company
opened 17 stores and is planning to open four more during the fourth quarter and 25 during
1996. The company currently operates 179
young men's casual wear stores in 31 states. Carson
Pirie Scott & Co. (414-347-5306) reported that its third quarter total sales declined
10.2% to $248.9 million compared to $277.3 million during the same period last year. Net income fell 10.9% to $4.1 million from $4.6
million and comparable store sales increased 0.2%. The
company currently operates 30 Carson Pirie Scott units, 13 Bergner's units, 10 Boston
Stores and two furniture stores in IL, IN, MN and WI. Rally's
Hamburgers, Inc. (502-245-8900) reported a third quarter loss of $17.3 million which
included a $12.9 million charge related to the planned closing of 25 underperforming
restaurants and the planned divestment of excess real estate. Excluding these charges, the company's third
quarter loss would have been $4.4 million compared to a loss of $4.5 million during the
same period last year. Revenues increased two
percent and systemwide comparable store sales decreased three percent. During the quarter, the company opened one unit
and franchisees opened eight units for a systemwide total of 493 units in 20 states. Borders
Group, Inc. (313-995-9702) reported that total sales for its third quarter increased 12%
to $362.1 million compared to $323.2 million during the same quarter last year. Total sales for Borders units increased 56.9% to
$148.9 million with comparable store sales increasing 7.7%.
Waldenbooks total sales fell to $205.7 million from $225.3 million as comparable
store sales fell 4.6%. During the quarter,
the company opened nine Borders units and is planning to open 10 more before the end of
the year. Fourteen Waldenbooks stores were
closed during the quarter. The company
currently operates 106 Borders units and 1,023 Waldenbooks units. Quizno's
Corporation (303-368-9424) reported a third quarter profit of $26,719 compared to a loss
of $88,135 during the same period last year. Revenues
increased to $1.748 million from $560,786 last year and systemwide sales increased to
$6.94 million compared to $5.07 million last year. During
the quarter, 13 units were opened by the company and its franchisors for a total of 98
units in 17 states. Toys
'R Us, Inc. (201-599-7850) reported that its third quarter sales increased five percent to
$1.715 billion compared to $1.631 billion during the same period last year. Net earnings fell to $21 million from $47 million
last year. Comparable store sales fell three
percent. The company currently operates 653
Toys 'R Us units in the U.S. and 338 internationally.
The company also operates 212 Kids 'R Us children's clothing stores. Filene's
Basement Corp. (617-348-7100) reported that its sales for the third quarter fell seven
percent to $154.2 million from $165.8 million during the same quarter last year. Net income was down to $1.6 million from $4
million last year and comparable store sales fell nine percent. The company currently operates 48 units selling
men's and women's apparel at off-price points in the Northeast and Midwest. Lease
Signings LaKritz-Weber
& Co. (810-353-9494) leased 60,000 sq.ft. to Dick's Clothing & Sporting Goods and
38,000 sq.ft. to Linens 'N Things at Winchester Center in Rochester, MI; 60,000 sq.ft. to
Dick's Clothing & Sporting Goods at Northpointe Center in Utica, MI; 22,000 sq.ft. to
OfficeMax at West River Shopping Center in Farmington, MI; 15,000 sq.ft. to Old Navy
Clothing Co. and 12,000 sq.ft. to Toy Works at Sears Lincoln Park Shopping Center in
Lincoln Park, MI; 12,000 sq.ft. to Party City at Roseville Plaza in Roseville, MI; 6,200
sq.ft. to Outback Steakhouse at Campbell Corners in Madison Heights, MI; 5,400 sq.ft. to
Applebee's at Kmart Center in Benton Harbor, MI and 2,400 sq.ft. to Chesapeake Bagels at
Grand Blanc Plaza in Grand Blanc, MI. Neal
Realty & Investments, Inc. (305-568-0530) leased 1,150 sq.ft. to The Quilt Shop at
University Shoppes in Lauderhill, FL; 1,200 sq.ft. to Premo's Subs at Downtown Plaza in
Fort Lauderdale, FL; 1,400 sq.ft. to Lovely Nails at Lauderdale Market Place in Lauderdale
Lakes, FL and 2,333 sq.ft. to Metro Life Chapel at P.M.P. Plaza in Tamarac, FL. The
Sansone Group (314-822-9009) leased 1,770 sq.ft. to Gateway Metro Credit Union at Barrett
Station Shopping Center in St. Louis, MO. United
Commercial Realty (214-526-6262) leased 11,000 sq.ft. to Krause's Sofa Factory at Collin
Creek Crossing Shopping Center in Plano, TX and 5,400 sq.ft. to Las Vegas Golf at Hulen
Fashion Center in Fort Worth, TX. Oxford
Real Estate Services Group, Inc. (203-222-3939) leased 8,730 sq.ft. to Ski Market at
Plumtrees Plaza in Danbury, CT; 7,380 sq.ft. to Pet Supplies Plus in Westport, CT and
7,258 sq.ft. to Kwok Gourmet Buffet at Tower Shopping Plaza in Milford, CT. Interstate
Investment, Inc. (703-590-1111) leased 1,600 sq.ft. to Travel Network and 2,000 sq.ft. to
Royal Pawn at Center Plaza in Dale City, VA and 1,325 sq.ft. to Wonder Nail at Glendale
Plaza in Dale City, VA. |