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The
Dealmakers Issue Number 2 for the week of January 26, 1996. Supermarkets
Shopping for Sites Kennedy's
Piggly Wiggly Stores operates 14 locations in KY, TN and VA. The supermarkets occupy spaces of 26,000 sq.ft. in
strip centers. Growth opportunities are
sought in the existing markets. For more information, contact Randy Rigg,
Kennedy's Piggly Wiggly Stores, Route 1, Box 13-D, Coeburn, VA 24230; 703-395-7100, Fax
395-7185. Lucky
Stores, Inc. trades as Lucky Stores at 414 locations in CA and NV. The supermarkets occupy spaces of 118,000 sq.ft.
in freestanding facilities and strip centers. Growth
opportunities are sought in the existing markets. For more information, contact Judy Decker, Lucky
Stores, Inc., 6565 Knott Avenue, Buena Park, CA 90622; 510-833-6000, Fax 833-6234. C&K
Markets, Inc. does business as Ray's Food Place at 34 locations in CA and OR. The supermarkets occupy spaces of 22,000 sq.ft. to
45,000 sq.ft. in freestanding facilities and strip centers.
Growth opportunities are sought in the existing markets. For more information, contact Ray Nidiffer,
C&K Markets, Inc., 615 Fifth Street, Brookings, OR 97415; 541-469-3113, Fax 469-6717. R&M
Foods, Inc. trades as Sunflower and Country Market at 17 locations in LA and MS. The supermarkets occupy spaces of 12,500 sq.ft. to
48,000 sq.ft. in freestanding facilities and strip centers.
Plans call for as many as five openings in the coming 18 months. Expansion will take place in MS. The company also operates a convenience store
concept. For more information, contact H.D. Roberts,
R&M Foods, Inc., 1612 Adeline Street, Hattiesburg, MS 39401; 601-545-3411, Fax
545-1101. Autry
Greer & Sons, Inc. does business as Greers at 38 locations in AL, FL and MS. The supermarkets occupy spaces of 12,000 sq.ft. to
28,000 sq.ft. in freestanding facilities 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 Barton Greer, Autry
Greer & Sons, Inc., 2850 West Main Street, Prichard, AL 36612; 334-457-8655, Fax
457-8566. Bi-Lo,
Inc. trades as Bi-Lo Supermarkets at 262 locations in GA, NC, SC and TN. The supermarkets occupy spaces of 32,000 sq.ft. to
46,000 sq.ft. in strip centers. Plans call
for as many as 10 openings in the coming 18 months. Expansion
will take place in the existing markets. For more information, contact Bart Coleman, Bi-Lo,
Inc., PO Drawer 99, Mauldin, SC 29662; 803-234-1600, Fax 675-5480. K-VA-T
Food Stores, Inc. trades as Food City at 65 locations in KY, TN and VA. The supermarkets occupy spaces of 33,500 sq.ft. in
strip centers. Plans call for as many as
seven openings in the coming 18 months. Expansion
will take place in the existing markets. For more information, contact Lou Scuderere,
K-VA-T Food Stores, Inc., PO Box 1158, Abington, VA 24210; 703-628-5503. The
Ackman-Ziff Real Estate Group (212-697-7242) recently financed a $23 million loan on a
regional mall in MO and $10 million of debt and equity for two shopping centers in PA; a
$70 million loan on an office building in New York City, an $11 million loan on a Holiday
Inn and Hampton Inn in VA; a $9 million loan on a Ramada Hotel in MD; a $20 million loan
on an office park in GA and a $17 million loan on an office building in Washington, D.C. Prime
Retail, Inc. (410-234-0782) recently signed a binding commitment letter with Nomura Asset
Capital Corporation to refinance nine existing factory outlet centers with a new
fixed-rate, 10-year cross-collateralized first mortgage loan of up to $233 million. The new loan facility will bear a fixed rate of
interest at a spread over 10-year Treasuries, depending on the level of proceeds drawn on
the facility and will require monthly principal and interest payments pursuant to a
25-year amortization schedule. Prime Retail
can elect to fix the interest rate on the loan facility at anytime prior to the expected
loan closing in July 1996. The interest rate
at closing is expected to be in the range of 8% to 8.25%.
The new fixed-rate loan commitment is in addition to the existing $160 million
revolving line of credit provided to Prime Retail by Nomura Asset Capital Corporation. In addition, Nomura Asset Capital Corporation
provided Prime Retail with a new $35 million interim loan secured by second mortgages on
two existing factory outlet centers, and committed to provide Prime Retail with a
five-year term loan of up to $22.5 million. Carson
Pirie Scott & Co. (414-347-5306) plans to acquire two Younkers department stores for
$5 million in cash. The stores to be acquired
are located at Cherryvale Mall and Machesney Park Mall, both in Rockford, IL. Carson Pirie Scott plans to convert the stores
into Bergner's units. The deal is expected to
be completed during March. In other news,
Carson Pirie Scott announced that it does not presently intend to continue its efforts to
acquire the entire Younkers, Inc. chain of stores and has entered into an agreement with
Younkers and Proffitt's, Inc. in which Carson agrees to vote all shares of Younkers it
owns in favor of the proposed merger of Younkers and Proffitt's. Garden
Ridge Corporation (713-579-7901) recently acquired the Pottery Mart location in Webster,
TX for approximately $2 million. Garden Ridge
plans to renovate, restock and reopen the store during May. Rite
Aid Corp. (717-975-5800) recently acquired the 14-unit chain of White Shield Drugstores in
PA. Rite Aid closed four of the stores and
plans to sell at least one of the stores to a third company. Buffton
Corporation's (817-332-4761) subsidiary BFX Hospitality Group, Inc. recently acquired
Cabo, The Original Mix Mex Grill, a recently developed Mexican restaurant concept in
Houston, TX for $589,000 in cash and 375,000 shares of Buffton Corp. stock. The concept features a Mexican menu with Central
and South American influences. Food is
prepared to order and a bar is available with specialty frozen drinks. The decor has a diner look with a juke box and
television sets. A second unit is planned to
open in Houston. Regis
Corporation (612-947-7777) recently acquired 91 hair salons in the United Kingdom from
Steiner Salons Limited and Steiner Hairdressing Limited in separate transactions. Eighty-five of the salons are freestanding with
the remainder located in department stores. Regis
Corp. currently operates more than 1,765 salons worldwide in four divisions: Regis
Hairstylists, MasterCuts, Trade Secret and International. Smith's
Food & Drug Centers (801-974-1400) is negotiating with Smitty's Super Valu, Inc.
regarding a possible merger of the 28-unit supermarket chain into Smith's. The
Italian Oven, Inc. (412-537-5380) has entered into a letter of agreement to acquire four
The Italian Oven restaurants from one of its franchisees.
The units are located in Erie and Pittsburgh, PA.
The deal is subject to approval by the Board of Directors at The Italian Oven. Shaw's
Supermarkets, Inc. (508-588-0293) recently signed definitive purchase and sale agreements
to acquire two Purity Supreme supermarkets from The Stop & Shop Companies, Inc. in
Nashua and West Lebanon, NH. The deal is
expected to close at the end of this month. Blockbuster
Entertainment Group (305-832-3000) recently acquired nine Video Esprit units in the
Montreal, Quebec, Canada area. The stores
will be converted to Blockbuster units. Manhattan
Bagel Company (908-544-0155) recently completed its acquisition of Bay Area Bagel, Inc.,
operator of eight Holey Bagel units in the San Francisco, CA area. Manhattan Bagel acquired the units for $85,000 in
cash and 65,000 shares of common stock. Following
the acquition, Manhattan Bagel operates 161 company and franchised units in 15 states. Store
Closings Moovies,
Inc. (803-292-2072) recently closed 10 of its 13 freestanding video game sales and rental
stores in IA and VA. The company acquired the
stores when it purchased the Movies To Go and First Row Video chains. The company closed the stores because of the
declining sales and rentals of 16-bit video games. Trans
World Entertainment Corp. (518-452-1242) plans to have closed 129 Coconuts Music stores
nationwide by the end of this month. Wal*Mart
(501-273-4000) plans to close Sam's Club stores in Pompano Beach, Miami and Cutler Ridge,
FL as well as a unit in CA. The company said
that the stores to be closed were losing money. The
Breder Companies (305-251-1520) leased 1,500 sq.ft. to Domino's Pizza and 750 sq.ft. to
Hammond's Bakery at Eureka East Shopping Center in South Dade County, FL. Paster
Enterprises (612-646-7901) leased 1,400 sq.ft. to Shiraz Cafe and Bakery at Sibley Plaza
in St. Paul, MN. Gold
& Company, Inc./New America Network (412-471-4455) leased 9,830 sq.ft. to Blue Ribbon
Rentals at Olympia Shopping Center in McKeesport, PA; 900 sq.ft. to Mailboxes, Etc. at Fox
Chapel Plaza in Pittsburgh, PA and 3,000 sq.ft. to Jazzercise at Greengate East in
Pittsburgh, PA. Breslin
Realty Development Corp. (516-741-7400) leased space to Liberty Travel, Inc. in Roslyn
Heights, NY. Divaris
Real Estate, Inc. (804-497-2113) leased 12,600 sq.ft. to Piece Goods Home Center at
Tuckahoe Village Shopping Center in Richmond, VA and 70,000 sq.ft. to Rack 'N Sack in
Roanoke, VA. The
Sansone Group, Inc. (314-822-9009) leased 2,100 sq.ft. to Einstein Brothers Bagels at
Olympic Oaks Village in St. Louis, MO; 1,050 sq.ft. to Cobblestone Shoe Repair at Mid
Rivers Center in St. Peters, MO; 1,400 sq.ft. to Hirsh Jewelers and 2,100 sq.ft. to
Wildhorse Cleaners at Gravois Village Plaza in St. Louis, MO. Servicenter,
Inc. (207-873-0124) leased 7,000 sq.ft. to Home Vision Video Store and 12,000 sq.ft. to
World Gym at Cooks Corner in Brunswick, ME. United
Commercial Realty (214-526-6262) leased 5,700 sq.ft. to Laser Storm at Carrollton Value
Center in Carrollton, TX and 42,130 sq.ft. to Hobby Lobby at Five Points Shopping Center
in Corpus Christi, TX. National
Real Estate Brokerage, Inc. (301-770-8585) leased 5,000 sq.ft. to Leather Plus in
Springfield, VA and 40,000 sq.ft. to Designer Shoe Warehouse at Georgetown Square Shopping
Center in Bethesda, MD. Pfeil
& Company (518-581-8280) leased 12,500 sq.ft. to The Party Warehouse in East Syracuse,
NY. Neal
Mannausa (941-365-1511) leased 6,750 sq.ft. to Buffalo Graphix at Schoolhouse Square in
Port Charlotte, FL. Associated
Realty, Inc. (201-316-8666) leased 12,600 sq.ft. to Party City at Rockaway Hills Commerce
Center in Rockaway, NJ. Mid-America
Asset Management Co. (708-954-7300) leased 6,500 sq.ft. to Blockbuster Video and 4,800
sq.ft. to Fins, Fur & Feathers at Park Place Shopping Center in Palatine, IL; 1,202
sq.ft. to Funco, Inc. at Village Crossing Shopping Center in Niles, IL; 1,600 sq.ft. to
RPM Cellular Telephone, Inc. and 1,225 sq.ft. to Nail Salon at Park Center Shopping Center
in Tinley Park, IL and 1,500 sq.ft. to Subway Sandwiches at Woodland Heights Shopping
Center in Streamwood, IL. Circuit
City Stores, Inc. (804-527-4000) reported that its December sales increased 15% to $1.13
billion from $976.6 million despite a two percent decrease in comparable store sales. The
Limited, Inc. (614-479-7000) reported net sales of $1.556 billion during December, a five
percent increase from last year's results of $1.483 billion. However, comparable store sales declined five
percent. Melville
Corp. (914-925-4000) announced that its consolidated retail store sales for December fell
15.1% to $1.542 billion from $1.816 billion last year.
The sales exclude those of Marshalls after its disposition in November. Adjusting for the disposition, consolidated retail
sales increased 8.8%. Total comparable store
sales increased 4.7%. Musicland
Stores Corporation (612-932-7700) reported that its December sales increased 5.7% to
$413.3 million from $390.9 million last year. Comparable
store sales fell 8.9%. By division, sales in
the superstores (Media Play and On Cue) increased 51.3% with a comparable store sales
decrease of 7.5%; and sales for its mall division (Sam Goody/Musicland and Suncoast Motion
Picture Company) fell 7.9% with comparable store sales down 9.5%. Today's
Man, Inc. (609-235-5656) reported that its December sales increased 8% to $40.6 million
from $37.5 million last year. However,
comparable store sales fell eight percent. Sears,
Roebuck and Co. (708-286-2500) reported that its December revenues were $4.36 billion, a
9.2% increase over revenues of $3.99 billion last year.
Comparable domestic store revenues increased 6.8%. Wal*Mart
Stores, Inc. (501-273-4000) reported that its December total net sales increased 12.1% to
$13.268 billion from $11.836 billion last year. Comparable
store sales increased 2.7% at Wal*Mart stores and fell 3.8% at Sam's Club stores. Barnes
& Noble, Inc. (212-633-3512) reported that its December revenues increased 22% to $565
million from $463 million last year. Comparable
store sales increased 5.9%. J.C.
Penney Company, Inc. (214-431-1000) reported that its December total sales fell 1.4% to
$3.482 billion from $3.532 billion last year. Sales
at J.C. Penney stores declined three percent and comparable store sales fell 4.2%. Best
Buy Co., Inc. (612-947-2000) reported that its December sales increased 27% to $1.368
billion from $1.080 billion last year. Comparable
store sales increased three percent in December. Hechinger
Company (301-341-0926) reported that its December sales fell 9% to $188.6 million from
$207.8 million last year. Comparable store
sales fell seven percent. Kmart
Corporation (810-643-1000) reported that its December total sales at its Kmart stores
increased 2.8% to $4.855 billion, up from $4.722 billion last year. Comparable store sales increased 5.5%. Sales at its Builders Square stores fell 9.9% to
$244 million from $271 million and comparable store sales fell 7.4%. Charming
Shoppes, Inc. (215-245-9100) reported that its total sales for December decreased 11% to
$168.6 million from $189.1 million last year. Comparable
store sales fell 11%. Dayton
Hudson Corporation (612-375-2200) reported that its total net sales for December increased
9.8% to $4.097 billion from $3.731 billion last year.
Comparable store sales increased three percent.
By division, Target's total sales for December increased 14.5% and comparable store
sales increased 5.3%. Mervyn's total sales
for December increased one percent and comparable store sales increased 1.4%. The department store division saw its total sales
fall 0.1% and its comparable store sales decline 1.7%. The
May Department Stores Company (314-342-6300) reported that its December sales increased
8.2% to $2.37 billion from $2.19 billion last year. Sales
in the department store division totaled $2.13 billion, a 9.3% increase over last year's
results. Sales in the Payless ShoeSource
division decreased 0.7% to $240 million. Comparable
store sales in the department store division increased 2.3% while falling 5.7% in the
Payless division. Gap,
Inc. (415-952-4400) reported that its December sales increased 22% to $811 million from
$665 million last year. Comparable store
sales increased six percent. The
TJX Companies, Inc. (508-390-3000) reported that its December sales increased 89% to $950
million from $502 million last year. The
large sales gain include the sales figures from Marshalls, which was acquired during
November. Comparable store sales, which do
not include Marshalls results, fell one percent. Mac
Frugal's Bargains Close-outs, Inc. (310-761-4167) reported that its December sales
increased 3.9% to $145.677 million from $140.264 million.
Comparable store sales decreased 4.4%. Lowe's
Companies, Inc. (910-651-4223) reported that its December sales increased 18% to $737.2
million from $622.8 million last year. Ames
Department Stores, Inc. (203-257-2659) reported that its net sales for December fell 3.9%
to $348.6 million from $362.9 million. Comparable
store sales for the month fell 4.1%. Brown
Group, Inc. (314-854-4093) reported that its December sales for its Famous Footwear
division increased nine percent to $73.9 million, but that comparable store sales fell
seven percent. In its Naturalizer division
sales fell three percent to $13.5 million and comparable store sales were down one
percent. Venture
Stores, Inc. (314-281-7800) reported that its December sales fell 13.8% to $323.4 million
from $375 million last year. Comparable store
sales declined 15.3%. Helly-Hansen dba
Helly-Hansen Outlets Jim
Nystrom PO Box
97301 Redmond,
WA 98073-9731 206-883-8823,
Fax 882-4932 Apparel The
five-unit chain operates locations in OR, WA and WI.
The stores, selling men's, women's and children's outdoor apparel at discount price
points, occupy spaces of 3,000 sq.ft. to 4,000 sq.ft. in outlet centers. Plans call for one opening in the coming 18
months. Expansion will take place in OR. Nautica
Retail USA, Inc. dba
Nautica Factory Stores John
Wetzler 40
West 57th Street New
York, NY 10019 212-541-5757,
Fax 841-7157 Apparel The
40-unit chain operates locations nationwide. The
stores, selling Nautica men's and women's sportswear, occupy spaces of 2,500 sq.ft. to
3,600 sq.ft. in outlet and value centers. Plans
call for as many as 15 openings in the coming 18 months.
Expansion will take place nationwide. Cottman
Transmission Systems, Inc. dba
Cottman Transmissions Mark
DiMuzio 240
New York Drive Fort
Washington, PA 19034 800-394-6116,
Fax 215-643-2519 Automotive The
165-unit chain operates locations nationwide. The
transmission repair concept occupy spaces of 2,500 sq.ft. to 4,000 sq.ft. in freestanding
facilities. Locations with 18-foot ceilings
are required. Plans call for 36 openings in
the coming 18 months. Expansion will take
place nationwide. The company is franchising. SPA,
Inc. dba
SPA MN Scott
Vesterstein 600
East Superior Street Duluth,
MN 55802 218-723-0012 Bath
& Body Products The
two-unit chain operates locations in CO. The
stores, selling bath and body products for men and women, occupy spaces of 600 sq.ft. in
power centers and regional malls. Plans call
for as many as five openings in the coming 18 months.
Expansion will take place in FL, IL, MI, MN and TX.
The company is franchising. Bookmart
of Florida, Inc. dba
Publishers Warehouse Jim
Starr 9915
East Independence Boulevard Matthews,
NC 28105 704-841-1938,
Fax 841-7111 Books The
72-unit chain operates locations nationwide. The
stores, selling books and related items at 50% to 90% off regular prices, occupy spaces of
3,000 sq.ft. to 35,000 sq.ft. in outlet and power centers.
Plans call for 25 openings in the coming 18 months.
Expansion will take place nationwide. The
company typically signs a five-year lease and prefers written proposals. Carlton
Cards Retail, Inc. dba
Carlton Cards & Other Concepts Susan
Capicchioni One
American Road Brooklyn,
OH 44144-2398 216-252-8800 Cards
& Gifts The
company operates more than 350 units nationwide. The
stores, selling cards and gifts, occupy spaces of 2,000 sq.ft. in regional malls. Plans call for 20 openings in the coming 18
months. Expansion will take place nationwide. The company plans to open new stores under the
Carlton Cards tradename and plans to change the name of its older stores to Carlton Cards
within 10 years. Elek-Tek,
Inc. dba
Elek-Tek Rory
Zaks 7350
North Linder Skokie,
IL 60077 708-677-7660 Computers The
seven-unit chain operates locations in CO, IL, IN and KS.
The computer stores occupy spaces of 3,500 sq.ft. in strip centers. Growth opportunities are sought in the existing
markets. Go-Mart,
Inc. dba
Go-Mart David
Heater 915
Riverside Drive Gassaway,
WV 26624 304-364-8000,
Fax 364-4690 Convenience
Store The
80-unit chain operates locations in KY, OH and WV. The
convenience stores occupy spaces of 2,000 sq.ft. in freestanding facilities. Plans call for as many as three openings in the
coming 18 months. Expansion will take place
in the existing markets. Minit
Mart Food Stores, Inc. dba
Minit Mart Food Stores Rita
Collins 958
Collett Avenue Bowling
Green, KY 42101 502-781-3378,
Fax 781-3388 Convenience
Store The
96-unit chain operates locations in KY and TN. The
convenience stores occupy spaces of 3,000 sq.ft. to 4,500 sq.ft. in freestanding
facilities. Plans call for five openings in
the coming 18 months. Expansion will take
place in the existing markets. Aristocrat
Drycleaners Vivienne
Singer 6745
Pembrook Road Pembrook
Pines, FL 33023 305-983-5210,
Fax 983-0710 Dry
Cleaners The
eight-unit chain operates locations in FL. The
dry cleaners occupy spaces of 1,000 sq.ft. to 1,400 sq.ft. in strip centers. Growth opportunities are sought in the existing
market. Rex
Stores Corp. dba
Rex TV & Appliances Richard
Santia 3550
Mall Boulevard NW Deluth,
GA 30136 770-623-0811,
Fax 623-5890 Electronics The
199-unit chain operates locations in NY, PA, OH, IN, KY, TN, GA, FL, AL, MS, MO, AR, NE,
IA, IL, TX and LA. The stores, selling
consumer electronics and appliances, occupy spaces of 12,000 sq.ft. to 15,000 sq.ft. in
freestanding facilities and regional malls. Plans
call for as many as 40 openings in the coming 18 months.
Expansion will take place nationwide. Laser
Storm Director
of Real Estate 7700
Cherry Creek South Drive Denver,
CO 80231 303-751-8545,
Fax 751-8546 Entertainment The
140-unit chain operates locations nationwide. The
family entertainment centers occupy spaces of 1,500 sq.ft. to 3,500 sq.ft. in regional
malls and strip centers. Plans call for 100
openings in the coming 18 months. Expansion
will take place nationwide. Nature's
Table Systems, Inc. dba
Nature's Table Mike
Karr 233
West 47th Street Kansas
City, MO 64112 816-531-8898,
Fax 531-8818 Food The
38-unit chain operates locations in FL, NC, WI, TX, KS, CA, MO, NY and Washington, D.C. The stores, selling health foods, occupy spaces of
650 sq.ft. to 1,250 sq.ft. in regional malls and strip centers. Plans call for 45 openings in the coming 18
months. Expansion will take place nationwide. The company, which is franchising, is also
co-branding its concept with Freshens Frozen Yogurt. J&C
Wholesale, Inc. dba
Jones Stores Ronnie
Jones PO Box
674 Tabor
City, NC 28463 910-653-4001,
Fax 653-2003 General
Merchandise The
38-unit chain operates locations in NC and SC. The
stores, selling general merchandise and apparel, occupy spaces of 6,000 sq.ft. to 30,000
sq.ft. in freestanding facilities and strip centers.
Plans call for as many as four openings in the coming 18 months. Expansion will take place in the existing markets. Smith
& Hawken Larry
Hanshaw c/o
Metropolis 6657
Chelton Drive Oakland,
CA 94611 510-482-8187,
Fax 482-8188 Home
Center The
20-unit chain operates locations in CA, CT, CO, IL, IN, NJ, NY, OH and TX. The stores, specializing in high-end garden
equipment, supplies, accessories and clothing, occupy spaces of 1,500 sq.ft. to 6,000
sq.ft. in freestanding facilities and end caps of strip centers. Plans call for as many as 15 openings in the
coming 18 months. Expansion will take place
in major metropolitan areas nationwide. Anna's
Linens Alan
Gladstone 3710
South Susan/ Suite 150 Santa
Ana, CA 92704 714-850-0504,
Fax 850-9170 Home
Decor The
25-unit chain operates locations in CA. The
stores, selling linens and bed and bath accessories, occupy spaces of 5,000 sq.ft. in
downtown store fronts, regional malls and strip centers.
Plans call for as many as four openings in the coming 18 months. Expansion will take place in the existing market. Dodd
Camera & Video Richard
Greiner, Jr. 2077
East 30th Street Cleveland,
OH 44115 216-361-6811,
Fax 361-6819 Photography The
11-unit chain operates locations in OH. The
stores, selling cameras, photographic supplies and video equipment, occupy spaces of 500
sq.ft. to 3,200 sq.ft. in strip centers. Growth
opportunities are sought in the existing market. Overland
Trading Company Richard
Gunn c/o
Gunn Consulting 95
Highland Avenue Buffalo,
NY 14222 716-885-8001,
Fax 885-8002 Shoes The
32-unit chain operates locations in CT, MA, NJ, NY, OH and PA. The shoe stores occupy spaces of 1,200 sq.ft. to
1,500 sq.ft. in downtown store fronts and regional malls.
Plans call for 10 openings in the coming 18 months.
Expansion will take place in KY, MD, TN, VA and Washington, D.C. The
Good Guys! dba
WOW Brad
Kaye 7000
Marina Boulevard Brisbane,
CA 94005 415-615-5000 Specialty The
company operates one location in NV. The
store, which is a combined unit between The Good Guys! and Tower Records, offers consumer
electronics and pre-recorded music while using a 55,000 sq.ft. freestanding facility. Plans call for six openings in the coming 18
months. Expansion will take place in CA. The company will also consider strip center
locations. United
Merchandising Corp. dba
Big 5 Sporting Goods Dorman
Leighty 2525
East El Segundo Boulevard El
Segundo, CA 90245 310-536-0611,
Fax 297-7592 Sporting
Goods The
192-unit chain operates locations in AZ, CA, NV, WA, ID, OR, NM and TX. The sporting goods stores occupy spaces of 10,000
sq.ft. in freestanding facilities, power centers and regional malls. Plans call for at least 20 openings in the coming
18 months. Expansion will take place in AZ,
CA, NV, ID, OR and WA. Toy
World, Inc. dba
Toy World Steve
Sosnick 319
Cartemadera Town Center Cortemadera,
CA 94925 415-927-0460,
Fax 927-8845 Toys The
11-unit chain operates locations in CA. The
stores, selling board games and electronic toys, occupy spaces of 1,000 sq.ft. to 12,000
sq.ft. in regional malls. Growth
opportunities are sought in CA. Video
Tyme, Inc. dba
Video Tyme Andy
Baruffi 3463
South Jones Boulevard Las
Vegas, NV 89102 702-251-8900,
Fax 251-4961 Video The
26-unit chain operates locations in CA, NV and PA. The
stores, selling and renting videos, occupy spaces of 4,000 sq.ft. to 5,000 sq.ft. in
freestanding facilities and strip centers. Growth
opportunities are sought in NV. Wal*Mart dba
Sam's Wholesale Club Don
Shinkle 702
South West 8th Street Bentonville,
AR 72716 501-273-4000,
Fax 273-4053 Wholesale
Club The
437-unit chain operates locations nationwide. The
stores, selling merchandise at wholesale prices, occupy spaces of 135,000 sq.ft. in
freestanding facilities, power and strip centers. Plans
call for 12 openings in the coming 18 months. Expansion
will take place nationwide. Space
Place Alabama Guntersville- A 50,000 sq.ft. space is available for lease. For details, contact Lee Barron of Gateway
Commercial Brokerage at (205-355-0721), Fax (350-9100). Iowa Mason
City- SouthPort Center is anchored by Sears,
Hobby Lobby, Joann Fabrics and Dollar General. The
210,000 sq.ft. project has spaces from 3,000 sq.ft. to 25,000 sq.ft. available for lease. For details, contact Todd Okum of Portland
Investment Co. of America at (310-441-8411), Fax (475-9112). Massachusetts Saugus- Fellsway Fashion Center is anchored by TJ Maxx and
Marshalls. The 125,000 sq.ft. project has
spaces from 3,500 sq.ft. to 25,000 sq.ft. available for lease. The site fronts Route 1 and Lynn Fells Parkway
which generate a daily traffic count of 107,000 vehicles.
Demographics include a five-mile population of 340,000 earning more than $50,000 as
the average household income. For details, contact Bruce Freedman of The Triad
Group at (617-566-2703), Fax (264-6292). Michigan Livonia- Livonia Plaza is anchored by TJ Maxx and Kroger. The 132,000 sq.ft. project has a 1,900 sq.ft.
space available for lease. In St. Clair
Shores- Lakeshore Village is anchored by
Kroger and Perry Drugs. The project has a
3,800 sq.ft. space available for lease. For details, contact David Birdsall of Midland
Group at (513-891-2323), Fax (891-2467). New
Jersey Haddonfield- An 820 sq.ft. space is available for lease in
downtown Haddonfield. The site is located
adjacent to Starbucks. For details, contact Brandon Famous of Solomon
Associates at (215-564-8200), Fax (246-3037). Newark- Ferry Plaza is anchored by a Pathmark Super
Center, Blockbuster Video and Blimpies. The
100,000 sq.ft. project has spaces from 800 sq.ft. to 4,000 sq.ft. available for lease. Ohio Perrysburg- Fort Meigs Plaza is anchored by Big Lots, FoodTown
Supermarket and Rite Aid Drugs. The 104,990
sq.ft. project has spaces of 1,425 sq.ft. and 3,206 sq.ft. available for lease. For details, contact Sam Zyndorf of
Zyndorf/Serchuk, Inc. at (419-249-7070), Fax (255-2439). Oregon Salem-
Liberty Plaza, an 80,000 sq.ft. three-story
retail and office complex has retail spaces from 1,200 sq.ft. to 2,500 sq.ft. and 15,000
sq.ft. of office space available for lease. The
project is connected via enclosed skybridges to Nordstrom's, Mervyn's, J.C. Penney's and
parking garages. For details, contact Gloria Jackson of Coldwell
Banker Mountain West Real Estate at (503-588-3536). Pennsylvania Montgomeryville- A 3,000 sq.ft. freestanding building is available
for lease. The site is located 1/2 mile north
of Montgomery Mall. For details, contact Brandon Famous of Solomon
Associates at (215-564-8200), Fax (246-3037). Real
Estate Professionals Making News Boyd,
Page & Associates (713-877-8400) announces that Nick Hernandez has joined the company
as a project leasing, pad sales and tenant representative specialist in the company's
retail division. Montgomery
Group Affiliates (610-825-7100) announces that Michael F. Desmarais has joined the company
as Regional Property Manager. Robert
B. Aikens & Associates (810-362-1370) announces that Kevin Kern has joined the company
as Director of Specialty Leasing. Kern will
be based in Pensacola, FL and will be responsible for the company's specialty leasing
program in FL, LA and MI. The
Rouse Company's (410-992-6326) Board of Directors recently elected 10 new vice presidents
at its quarterly meeting. They include:
Kathleen E. Barry, Michael J. Bryant, Thomas M. Fitzpatrick, Richard E. Galen, Jack R.
Greenberg, Joel A. Manfredo, Joseph H. Necker, Jr., Michael L. Podracky, John R. Ragland
and Marlene F. Weinberg. Property
Resources (919-831-9090) announces that Sonya Wall Naftalin has the joined the company. Naftalian will specialize in site acquisitions,
construction management, project development and build-to-suit activities. The
Mills Corporation (202-965-3600) recently appointed Charles R. Black, Jr. and Joseph B.
Gildenhorn to its Board of Directors. The
appointments increase the board to 12 members. Hick
& Rotner Associates, Inc. (301-823-4250) announces the promotion of George L. Collins
to Vice President of the company. In his new
position he will be responsible for site selection, lease negotiations and landlord
relations. 422
Development, Inc. (610-768-2950) announces that Amie Winig and Debra Hargrove has joined
the company. Winig will be responsible for
all shopping center property management and Hargrove joins as a leasing representative. OM
Hawthorne Management Services, Inc. (619-457-0911) announces that Kenneth J. Kraus has
earned professional accreditation as a Certified Shopping Center Manager from the ICSC. I.R.E.
Realty is in the market to acquire retail centers and other commercial income properties
of any size in the Chicago suburbs and Loop area. For more information, contact Michael Sims at
(815-723-0938), Fax (723-1253). JDN
Realty Corp. recently acquired Northcreek Commons Shopping Center in Goodlettsville, TN. The 85,000 sq.ft. project is anchored by Kroger. The purchase price was $5 million. For more information, contact JDN Realty Corp. at
(404-262-3252). Lupo
Investments/Jack Lupo Realty Co., Inc. recently acquired two sale-leasebacks of Tire
Kingdom Stores in Orange City and New Port Richie, FL.
The combined purchase price was $1.145 million. For more information, contact Lupo
Investments/Jack Lupo Realty Co., Inc. at (407-391-8244), Fax (391-8885). Federal
Realty Investment Trust through its wholly owned subsidiary Street Retail, Inc. acquired
The Village at Shirlington in Arlington, VA for $23.2 million. The 284,000 sq.ft. project is anchored by a
150,000 sq.ft. Best Products store and a Cineplex Odeon theater. Space is also occupied by small retail shops and
restaurants and 65,000 sq.ft. of the project is office space. The purchase also included an adjacent 3.49 acre
parcel of land which is earmarked for future development. For more information, contact Robert Wennett at
(301-961-9308). Hocker
& Associates, Inc. brokered the sale of Signal Ridge Shopping Center in Oklahoma City,
OK. The buyer was Fotis Enterprises who
purchased the project from Local Federal Bank for $1 million. For more information, contact Tony Smith at
(502-926-2616). Sterling
Companies is in the market to acquire anchored shopping centers in FL. Preferred properties have upside potential,
outparcels and tenant replacement opportunities. Purchases
of both single centers and portfolios will be considered. For more information, contact Roxanne Register at
(407-835-1810), Fax (833-4118). Lee
& Associates brokered the sale of 4.84 acres of land in San Marcos, CA to R&J
Siegel/Old California Development Co. who plans to build a 14-screen, 3,100-seat movie
theater on the site. The purchase price was
$825,000. For more information, contact Ron Voight or Don
Smith at (714-724-1000). Schmier
& Feurring Realty has the listing to sell Delray Town Center in Delray Beach, FL. The 99,000 sq.ft., 96% lease project is anchored
by Albertson's, Blockbuster Video and Payless ShoeSource.
The asking price is $8.5 million. For more information, contact Robert Schmier at
(407-488-9100), Fax (482-0181). Sells
Real Estate has the listing to sell a shopping center in Montclair, CA. The project, which was built in the 1950s, was
just appraised at $1.5 million. For more information, contact Rita Schroeder at
(707-838-9861), Fax (838-9862). |