Issue 4 for the week of February 9, 1996

The Dealmakers Issue Number 4 for the week of February 9, 1996.

Sporting Goods Retailers Hunting for New Locationns Nationwide

Green Mountain Corp. trades as Peter Glenn Ski & Sport at 15 locations in AZ, FL, GA and VT. The stores, selling ski, rollerblade and tennis equipment as well as related apparel, occupy spaces of 4,500 sq.ft. to 9,000 sq.ft. in freestanding facilities and strip centers. Plans call for three openings in the coming 18 months. Expansion will take place within the existing markets.

For more information, contact Martin Underwood, Green Mountain Corp., 2901 West Oakland Park Boulevard, Fort Lauderdale, FL 33311; 305-484-7800, Fax 739-5724.

Hackers Helper Golf Shops operates eight locations in OH and PA. The stores, selling everything for the golfer, occupy spaces of 6,000 sq.ft. to 10,000 sq.ft. in freestanding facilities, power, specialty and strip centers. Plans call for three openings in the coming 18 months. Expansion will take place in the existing markets. The company is seeking spaces running 5,000 sq.ft. to 7,000 sq.ft.

For more information, contact John Patterson, Hackers Helper Golf Shops, 5775 Baptist Road, Bethel Park, PA 15102; 412-831-3168, Fax 831-9229.

Sportmart, Inc. does business as No Contest at four locations in MN and MO and as Sportmart at 67 locations in CA, IA, IL, MI, OH, OR and Canada. The stores, selling sportswear, athletic footwear and sporting goods equipment, occupy spaces of 42,000 sq.ft. in freestanding facilities and strip centers. Growth opportunities are sought in CA, IL, IN, MN, OH, OR, WA and Canada.

For more information, contact Mitchell Kahn, Sportmart, Inc., 1400 South Wolf Road, Suite 200, Wheeling, IL 60090; 708-520-0100, Ext. 286, Fax 520-1570.

Dunhams Athleisure Corp. trades as Dunhams Sporting Goods at 105 locations in IA, IL, IN, MD, MI, MN, ND, NY, OH, PA, WI and WV. The sporting goods stores occupy spaces of 15,000 sq.ft. to 45,000 sq.ft. in freestanding facilities, power and strip centers. Plans call for as many as 15 openings in the coming 18 months. Expansion will take place in the existing markets.

For more information, contact John Palmer, Dunhams Athleisure Corp., 5000 Dixie Highway, Waterford, MI 48329; 810-674-4991, Fax 674-4980.

Las Vegas Discount Golf & Tennis operates 57 locations throughout North America. The stores, selling golf and tennis equipment as well as related sportswear, occupy spaces of 3,000 sq.ft. to 14,000 sq.ft. in end caps of strip centers and pad sites of regional malls. Plans call for as many as 20 openings in the coming 18 months. Expansion will take place in FL, GA, MD, MI, MN, NC, OH, SC and VA. The company is seeking spaces running 4,000 sq.ft. to 5,000 sq.ft.

For more information, contact Tom Rojas, Las Vegas Discount Golf & Tennis, 5325 South Valley View Boulevard, Las Vegas, NV 89118; 702-798-7777, Fax 798-6847.

Buyers & Sellers of Commercial Properties

Hagenston Hardware, Inc. is selling a 28,000 sq.ft. retail store, with a tenant in place, in Glendive, MT. The asking price is $275,000.

For more information, contact Greg Hagenston at (406-365-5555), Fax (365-5555).

Hunington Properties has the listing to sell NNN properties catering to 1031 and 1033 exchange buyers.

For more information, contact Sandy Aron at (713-623-6944), Fax (963-9329).

R.W. Holmes Realty has the listing to sell a 9,600 sq.ft. retail building in Hudson, MA. The project is leased to three local tenants and has an NOI of $85,648. The asking price is $675,000.

For more information, contact Steven M. Greenberg at (508-655-5626, Ext. 333), Fax (651-3415).

Mid-Atlantic Realty Trust recently sold its 98,000 sq.ft. Park Sedona Plaza in Sedona, AZ to Fry Investment Company for $9 million. The company also sold a Chicago, IL property, currently being used as a bowling alley, for $720,000.

For more information, contact F. Patrick Hughes at (410-684-2000).

Edens & Avant has the listing to sell a J.E. Hanger NNN lease in Columbia, SC. The asking price is $440,000. The company also has the listing to sell a Moovies NNN lease in Columbia, SC. The asking price is $962,000.

For more information, contact Ken Butler at (803-779-4420), Fax (765-0684).

Vita & Vita Realty Corp. represents an investment fund in the market to acquire strip centers located in the Eastern Time Zone. Properties of interest are anchored by department stores and/or supermarkets and have GLAs ranging from 60,000 sq.ft. to 250,000 sq.ft.

For more information, contact Andrew Vita, Jr. at (201-227-5233).

Midland Group recently acquired Crossroads Plaza in Granite City, IL. The 147,000 sq.ft. project is anchored by Heilig-Meyers Furniture, Big Lots and Walgreens. A vacant anchor space of 41,000 sq.ft. is available for lease.

For more information, contact David Reif at (314-576-1900).

Erwin L. Greenberg Commercial Corporation brokered the sale of 7.35 acres of land at Dorchester Square Shopping Center in Cambridge, MD. A 55,000 sq.ft. Metro Market will be constructed on the site.

For more information, contact Mark Laken at (410-837-2500).

Breslin Realty Development Corp. brokered the sale of a Wendy's Restaurant, currently under construction, in East Meadow, NY. The purchaser is Connetquot Associates.

For more information, contact Robert A. Weil at (516-741-7400).

The R.H. Johnson Company has the listing to sell Noland Road Retail Center in Independence, MO. The 32,000 sq.ft. project is anchored by Color Tile and Dollar General and has an NOI of $218,680. The asking price is $2.186 million.

For more information, contact Randi Lefko at (816-561-5111).

First Washington Realty Trust, Inc. recently acquired Stefko Boulevard Shopping Center in Bethlehem, PA; Fifteenth and Allen Shopping Center in Allentown, PA and Firstfield Shopping Center in Gaithersburg, MD. The centers have a combined GLA of 200,000 sq.ft.

For more information, contact First Washington Realty Trust, Inc. at (301-907-7800).

Bayer Properties, Inc. represented the seller, USX, in the sale of 1.72 acres of land in Fairfield, AL. An NTW store will be developed on the site.

For more information, contact Stan Farrell at (205-939-3111).

Satellite Partners, L.L.C. recently acquired 365 acres of land across from Gwinnett Place Mall in Gwinnett County, GA from Norfolk Southern Railroad. The company is planning to construct a $250 million mixed-use development over the next five years which will include 1.5 million sq.ft. of retail space, 850 apartment units and 1 million sq.ft. of industrial space.

For more information, contact John Stabler at (404-262-8888).

Starbare Associates recently sold Smithville Square in Smithville, NJ to Lamar Companies. The 103,000 sq.ft. project is anchored by Shop 'N Bag and CVS.

For more information, contact Starbare Associates at (800-88-STARBARE).

KLNB, Inc. brokered the sale of 15.32 acres of land at the Milestone Project in Germantown, MD. The buyer was Wal*mart, who plans to construct a 130,000 sq.ft. store on the site and the seller was Germantown Seneca Joint Venture.

For more information, contact Maury Levin, Adam Miller or Sam Hodge at (703-356-8230).

The Macerich Company recently acquired Queens Center in New York City, NY and Capitola Mall in Santa Cruz County, CA in separate transactions. The 602,713 sq.ft., 97% occupied Queens Center is anchored by JC Penney and Macy's. The 577,000 sq.ft., 93% leased Capitola Mall is anchored by J.C. Penney, Sears, Mervyn's and Gottschalks.

For more information, contact Tom O'Hern at (310-394-6911).

Glimcher Realty Trust recently acquired Delaware Community Plaza in Delaware, OH. The 153,451 sq.ft., 100% leased project is anchored by Kroger and Sears Paint & Hardware. A Wal*Mart store, owned by Wal*Mart, is also at the site. The purchase price was $12.5 million.

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

Sources of Financing

Dorman & Wilson, Inc. (914-949-0520) arranged a $153.5 million first mortgage for Westchester Mall, an 830,000 sq.ft. project in White Plains, NY owned by a joint venture of the O'Connor Group, Shopping Center Associates, Nomura Real Estate USA and Mall Properties. The co-lenders were Cigna Investments, Inc. and Teachers Insurance & Annuity Association.

Johnson Capital Group (714-660-1999) recently closed an $18.3 million loan for Fournels Investment Co.'s 225,000 sq.ft. Park Centre in Salt Lake City, UT; a $13.5 million loan for Sanderson Ray's 120,000 sq.ft. Tustin Ranch Plaza in Tustin, CA; an $11.5 million loan for Laguna Hills Investment Co.'s 201,144 sq.ft. Oakbrook Village Shopping Center in Laguna Hills, CA and an $11.2 million loan for an unnamed owner of the 230,000 sq.ft. Lincoln Town Center in Santa Ana, CA.

GMAC Commercial Mortgage (804-644-8154) recently placed $14.2 million in long term permanent financing utilizing Lutheran Brotherhood for Glen Lea Shopping Center, Laburnum Park Shopping Center and Laburnum Square Shopping Center in Henrico County, VA as well as for Hanover Village Shopping Center in Hanover County, VA.

Tanger Factory Outlet Centers, Inc. (910-274-1666) recently closed on a $50 million revolving credit facility being provided by NatWest Markets. The three-year secured facility, priced at Libor + 150 basis points, reduces the company's overall borrowing costs.

Who's Opening and Where...

Little Professor Book Company (313-994-1212) plans to open a 10,000 sq.ft. to 15,000 sq.ft. bookstore in north Fort Wayne, IN this year.

Manhattan Bagel Company (908-544-0155) and Amerada Hess Corporation recently entered a co-branding agreement in which Manhattan Bagel will lease space for kiosks within Hess Mart convenience stores and gasoline stations. The first kiosk is expected to open in Bayville, NJ during the first quarter. The kiosks will be operated by local Manhattan Bagel franchisees.

Albertson's, Inc. (208-385-6200) recently opened 23 supermarkets which brings its openings for this fiscal year, which ended February 1, to 58. The company operates 764 stores in 19 states.

Hobby Lobby (405-681-5997) plans to build a 55,079 sq.ft. store in Oklahoma City, OK. The unit is expected to open during August.

Proffitt's, Inc. (901-372-4300) plans to open an 86,000 sq.ft. department store at Morgantown Mall in Morgantown, WV during the fourth quarter of this year and an 86,000 sq.ft. store at Grand Central Mall in Parkersburg, WV during Spring 1997.

Arby's, Inc. (305-351-5100) plans to open 150 Arby's Roast Town and dual branded units nationwide this year. The company dual-brands units with ZuZu's, a Mexican food chain and P.T. Noodles, a new concept that features corkscrew noodles topped with Oriental, Italian and American foods.

Sears, Roebuck & Co. (708-286-2500) plans to open a 150,000 sq.ft. store at South Park Mall in San Antonio, TX during Fall. The store will replace an older store in San Antonio.

Java Centrale, Inc. (916-568-2310), through an agreement with Java Southeast, plans to open 50 Java Centrale units in Florida in the coming six years. The first three are expected to open in Boca Raton, Coral Gables and West Palm Beach this month.

Walgreen Co. (708-940-2680) recently opened a 13,500 sq.ft. drug store in Colorado Springs, CO. The new store replaces two smaller stores that the company recently closed in Colorado Springs.

Volunteer Capital Corp. (615-269-1900) plans to open J. Alexander restaurants at Somerset Collection in Troy, MI and Hamilton Place in Chattanooga, TN during August.

Sports Authority, Inc. (954-735-1710) recently assumed the lease of a 52,205 sq.ft. former Rickels Home Center at Ledgewood Mall in Ledgewood, NJ.

Giant Food Stores, Inc. (717-249-4000) has signed a lease to anchor Pennsboro Commons Shopping Center with a 45,800 sq.ft. store in East Pennsboro Township, PA. The center is expected to open during 1997.

American Multi Cinema (816-221-4000) and United Artists (303-792-8255) both recently filed plans to construct entertainment complexes on Route 611 in Warrington, PA. AMC is planning a 24-screen multiplex with restaurants and UA is planning an 11-screen theater with an entertainment complex featuring video games.

Eddie Bauer (708-769-2596) plans to open 30 stores this year in the U.S., Germany and Japan. The company's long range plans include as many as 400 new stores by 2000. The company currently operates 411 units throughout North America.

Bradlees, Inc. (617-380-5863) plans to open a 94,000 sq.ft. store in Worcester, MA next month. The store will replace a unit in Shrewsbury, MA which is closing next month.

JC Penney (214-431-1000) plans to expand its 86,000 sq.ft. department stores at East Towne Mall and West Towne Mall in Madison, WI by 55,000 sq.ft. each. Space at both malls will be gained by converting the second floor storage areas into sales space.

McDonald's Corporation (708-575-3000) plans open as many as 3,200 total restaurants annually, in 1996 and 1997. Between 1,800 and 2,200 of these will be traditional restaurants, with approximately two-thirds to be located outside of the U.S. The remainder will be satellite units, about 60% of which will be in the U.S. During 1995, the company opened 2,400 units worldwide and currently operates more than 18,000 restaurants in 89 countries.

Borders (313-913-1323) plans to open a 37,000 sq.ft Borders Books & Music store at the World Trade Center in Manhattan, NY.

Woodroast Systems, Inc. (612-944-5113) plans to open a 10,000 sq.ft. Shelly's Woodroast restaurant adjacent to Tyson's Corner I in Tyson's Corner, VA.

CompUSA, Inc. (214-982-4000) plans to open a 28,700 sq.ft. store at Country Club Corner in Oklahoma City, OK during July; a 26,500 sq.ft. store at Meadows Marketplace in Denver, CO and a 27,000 sq.ft. store at Vista Ridge Village in Lewisville, TX.

Hechinger Company (301-341-0926) recently opened three 110,000 sq.ft. HQ Warehouse stores in the Columbus, OH market.

Sports & Recreation, Inc. (813-886-9688) plans to open a 43,000 sq.ft. store at Mall Hill Center in Lakeland, FL.

Lasorda's Dugout Deli (813-823-1511) plans to open a restaurant at Tampa Yankees Stadium this spring and is looking to open as many as 150 units in FL, the Northeast and Southern CA by Spring 1996. So far, 73 franchises have been sold. Tommy Lasorda, manager of the Los Angeles Dodgers, owns a 51% stake in the company.

Target Stores (612-370-6073) plans to open its first east coast stores next month in Potomac Mills and Fredricksburg, VA. The company plans to open as many as 80 stores this year, including 28 in MD, NY and VA.

Nicholas Markets (201-595-5080) plans to open a Food Town supermarket in NJ this year.

Circuit City Stores, Inc. (804-527-4000) plans to open a 37,592 sq.ft. store adjacent to Eastgate Plaza in Wichita, KS either late this year or early next year.

Nieman Marcus (214-573-5778) plans to open a 139,000 sq.ft. department store at The Plaza at King of Prussia in King of Prussia, PA this month.

Dunhams Athleisure Corp. (810-674-4991) plans to open a Dunhams Sporting Goods store in Lavale, MD next month.

Las Vegas Discount Golf & Tennis (702-798-7777) recently opened a store in Phoenix, AZ and is planning to open stores in Monroe, MI next month and Myrtle Beach, SC during April.

Wal*Mart (501-273-4000) recently opened two Supercenters near Sao Paulo, Brazil.

The Earthquake Outlet Store (510-597-0410) recently opened at Ghirardelli Square in San Francisco, CA. The store provides earthquake preparedness products including fully assembled earthquake kits and a variety of foods, water, flashlights, and radios. Educational materials, including videos, are also available. The store has an earthquake simulation shake platform and a cut-away of an earthquake resistant house.

Koo Koo Roo (310-479-2080) recently opened a 5,700 sq.ft. restaurant, its largest of the chain, in Studio City, CA.

Pathmark (908-499-3357) recently opened a 58,000 sq.ft. supermarket at Capitol Plaza in Ewing, NJ.

Family Dollar Store (704-847-6961) recently opened a 7,700 sq.ft. store at the 1600 Business Center in Ewing, NJ.

New Construction

DiMucci Companies is currently developing State Street Market in Rockford, IL. The 320,000 sq.ft. project will be anchored by Montgomery Ward's Electric Avenue & More, Dick's Clothing & Sporting Goods, PetsMart and Logli's supermarket. A 25,000 sq.ft. space is available for lease. Located adjacent to that project is East State Street Market, a 150,000 sq.ft. commercial area where ground was recently broken. Completion is scheduled during Fall. The company also recently broke ground on phase III of Cicero Marketplace in Cicero, IL. Phase III will offer more than 122,000 sq.ft. of commercial space, which is available for lease. The overall project, when completed, will encompass 650,000 sq.ft. and is anchored by a 120,000 sq.ft. Target, a 130,000 sq.ft. Sam's Club and a 102,000 sq.ft. Home Depot.

For more information, contact Salvatore DiMucci of DuMucci Companies at (708-991-4400).

Homart is developing West Oaks Mall in Ocoee, FL. The project will be anchored by a 213,000 sq.ft. Gayfers, a 197,000 sq.ft. Dillard's, a 144,400 sq.ft. Sears and a 97,300 sq.ft. JC Penney store. A 14-screen, 56,000 sq.ft. AMC movie theater is also planned. Space for 125 specialty stores and a food court will also be constructed. The project is expected to open during the Fall.

For more information, contact Homart at (312-551-5000).

Glimcher Realty Trust and Jordon Perlmutter & Co. recently broke ground on The Great Mall of the Great Plains in Olathe, KS. The value-oriented super regional mall will feature more than one million sq.ft. initially with capacity for expansion in future phases. The project will be built in a 360-degree racetrack design. Eight major anchor tenants have committed to the project: Oshman's Supersports USA, Burlington Coat Factory, Linens 'N Things, Marshall's Superstore, Fun Factory, Reading China & More, Off 5th Saks Fifth Avenue Outlet and a 14-screen Dickinson Movie Theater. Space for more than 165 specialty stores will be constructed, as will a 30,000 sq.ft. Fun Factory family entertainment facility and a food court with seating for more than 800. At least 16 outparcels will be available, with Red Lobster and Burger King occupying two of them. The project is expected to open during Spring 1997.

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

Financial News...

Manhattan Bagel Company, Inc. (908-544-0155) reported that systemwide retail sales increased 167.3% during 1995, from $15.047 million to $40.214 million, with comparable store sales increasing 10%. The company ended 1995 with 160 stores in 15 states, a net gain of 102 units. During 1996, the company plans to open 160 stores, including its first units in Canada.

Peaches Entertainment (305-432-4000) recently filed for Chapter 11 and will close three unprofitable stores in FL and SC. The company plans to continue to operate its other 13 stores in AL, FL, NC and VA.

Funco, Inc. (612-946-7222) announced that net sales during its third quarter fell 12% to $31.897 million from $36.389 million last year. Comparable store sales decreased 16%. The company operates 182 stores, trading as FuncoLand, nationwide.

The Mills Corporation (202-965-3600) and Simon Property Group announced that documents have been finalized forming three joint ventures to develop and operate super-regional value retail malls over the next several years. In addition to the agreement, both companies will continue to develop and manage its own portfolio of properties.

The May Department Stores Company (314-342-6300) plans to spin-off its Payless ShoeSource chain as an independent company which will become the largest independent shoe retailer in the country. The transaction is expected to be completed during June. As part of the planned spin-off, Payless plans to close or relocate 450 stores. The company currently operates 4,557 shoe stores in 49 states, Puerto Rico and the Virgin Islands.

Charter Oaks Partners (703-905-4400) and Factory Outlet Stores of America have terminated the agreements under which FSA would have acquired the 3.2 million sq.ft. of unleveraged factory outlet space owned by The Public Employees Retirement System of Ohio and the management and business operations of Charter Oak Group.

Stop & Shop Companies, Inc. (617-380-8000) is selling its 64-unit chain of Li'l Peach convenience stores. Stop & Shop acquired the stores in November when it purchased Purity Supreme, Inc.

Whole Foods Market (713-661-7753) announced that it plans to reorganize its Southern CA region of stores which includes changing the name of the nine Mrs. Gooch's units to Whole Foods Market. The company currently operates 43 natural foods supermarkets in 10 states.

The Good Guys! (415-615-5000) announced that earnings for its first fiscal quarter fell to $6.7 million from $8.6 million during the first quarter last year. Sales for its first quarter increased nine percent to $306.7 million from $281.658 million last year, but comparable store sales fell six percent. During the quarter, the company opened four stores in CA, NV and WA and is looking to open as many as 10 more units during the remainder of fiscal 1996.

Tandycrafts, Inc. (817-568-7800) reported a second quarter net loss after restructuring charge of $12.379 million, compared to net income of $4.097 million during the second quarter last year. The results reflect the company's adoption of a strategic restructuring and consolidation program designed to increase its competitive position and increase value to its shareholders. The company also reported that net sales for the second quarter fell 2% to $74.347 million. As part of the restructuring, Tandcrafts will be comprised of three specialty retail operations: Tandy Leather, Joshua's Christian Stores and Sav-On Discount Office Supplies; and two manufacturing divisions: TWI and Frames and Framed Art. Other components of the restructuring include the sale of Cargo Furniture & Accents; the sale or closing of David James Manufacturing, Brand Name Apparel and Prestige Leather Creations and the closing of 11 underperforming stores including five Joshua's, four Tandy Leather stores and two Sav-On Discount Office Supplies stores.

American Retail Group, Inc. (212-704-5300) plans to combine its 54-unit Byrons stores division with its 37-unit chain Uptons. Under the plan, 17 Byrons units in FL will be closed and the remaining 37 will be renamed and reformatted as Uptons units.

K&G Men's Center, Inc. (404-351-7987) recently held an initial public offering of 1.7 million shares of its common stock at an initial price of $10 per share. The company, which operates 11 men's apparel superstores in eight states, plans to use some of the proceeds for its future expansion.

CompUSA, Inc. (214-982-4000) reported that net sales during its fiscal second quarter increased 22% to $931 million from $762 million last year. Second quarter net income increased to $17.4 million from $9.7 million and comparable store sales increased 10.5%. The company operates 95 computer superstores in 44 metropolitan markets nationwide.

Lead Sheet

50 Below

Tom Martin

645 West Carmel Road

Carmel, IN 46302

317-846-1736

Food

The five-unit chain operates locations in IN. The concept, selling frozen foods, occupies spaces of 2,500 sq.ft. in neighborhood, community and power centers. Plans call for 100 openings over the next several years. Expansion will take place within a three-hour drive of Indianapolis, IN.

All American Food Group

dba Goldberg's Original Old World Bagels,

Sammy's New York Bagels

Guy McNeil

9 Law Drive

Fairfield, NJ 07006

800-922-4350, Fax 201-244-9350

Food

The company operates 15 Goldberg's Original Old World Bagels locations in AZ, NJ, NY and WA and five Sammy's New York Bagels locations in NJ, NY and OH. Goldberg's, which sell bagels and deli items, occupy spaces of 800 sq.ft. to 2,000 sq.ft. in strip centers. Plans call for 50 openings in the coming 18 months. Expansion will take place nationwide. Sammy's Bagels, which sell kosher bagels, occupy spaces of 800 sq.ft. to 2,000 sq.ft. in strip centers. Plans call for 25 openings in the coming 18 months. Expansion will take place nationwide. The company is franchising both concepts.

Baja Chuy's Mesquite Broiler, Inc.

dba Chuy's Baja Broiler

Mike Dubreuil

25289 The Old Road

Newhall, CA 91321

800-342-4897, Fax 805-288-1470

Food

The 20-unit chain operates locations in AZ and CA. The restaurants, which feature a Mexican motif, occupy spaces of 1,200 sq.ft. to 3,000 sq.ft. in freestanding facilities. Plans call for as many as six openings in the coming 18 months. Expansion will take place in AZ, CA, CO, NM and TX.

Buffalo's Cafe Franchise Concepts

dba Buffalo's Cafe

Kevin Culkin

5500 Interstate North Parkway #545

Atlanta, GA 30328

800-459-4647, Fax 404-916-1696

Food

The 33-unit chain operates locations in FL, GA, NC, SC and TN. The casual family dining restaurants serve roast chicken, ribs, sandwiches, salads and soups. While using an old western theme, the restaurants occupy spaces of 3,600 sq.ft. to 4,500 sq.ft. in freestanding facilities and end caps of strip centers. Plans call for as many as 50 openings in the coming 18 months. Expansion will take place in the Midwestern, Northeastern, Southeastern and Southwestern regions. The company is franchising.

Candy Headquarters, Inc.

dba Candy Headquarters

Mark Lando

40 Twenty-fourth Street

Pittsburgh, PA 15222

412-456-7811, Fax 456-7819

Food

The 36-unit chain operates locations in AK, AR, FL, GA, LA, MO, IL, NJ, NY, OH, PA, TX, VA, WV and Guam. The candy stores occupy spaces of 750 sq.ft. in outlet centers and regional malls. Plans call for the opening of three corporate units and 18 franchised units within the coming 18 months. Expansion will take place nationwide. The company is also seeking sites in Europe and the Pacific Rim.

Caterina's Franchise Co., Inc.

dba Caterina's

Josie Rietkerk

415 Avenida Pico N2

San Clemente, CA 92672

800-938-7042, Fax 714-492-9585

Food

The five-unit chain operates locations in CA. The stores, selling candy and yogurt, occupy spaces of 700 sq.ft. to 1,100 sq.ft. in regional malls. Plans call for as many as 10 openings in the coming 18 months. Expansion will take place in the Southwestern region. The company is franchising.

The Cheesecake Factory, Inc.

dba The Cheesecake Factory

Jane Vallaire

26950 Agoura Road

Calabasas Hills, CA 91301

818-880-9323, Fax 880-6501

Food

The 14-unit chain operates locations in CA, GA, MD, IL, FL, MA, TX and Washington, D.C. The restaurants, which serve lunch, dinner and Sunday brunch, occupy spaces of 12,000 sq.ft. in freestanding facilities, regional malls and strip centers. Plans call for five openings in the coming 18 months. Expansion will take place in IL, MO, NY, NV and TX.

Docano's Deli & Grille

Doug Northrup

2915 Clubview Drive

Columbus, GA 31906

706-327-6797

Food

The four-unit chain operates locations in GA. The deli-style restaurants occupy spaces of 1,400 sq.ft. in strip centers. Plans call for six openings in the coming 18 months. Expansion will take place in FL and GA.

Gosh Enterprises, Inc.

dba Charley's Steakery

Betsy Berman

6610 Busch Boulevard/ Suite 100

Columbus, OH 43229

614-847-8100, Fax 847-8110

Food

The 45-unit chain operates locations in CA, CT, IL, KY, MI, MN, MO, NM, NY, OH, OK, PA, TN, TX, UT, WV, VA, NC, SC, WI and Canada. The restaurants, selling grilled sandwiches, fresh-cut fries, salads and breakfast, occupy spaces of 500 sq.ft. to 800 sq.ft. in food courts of regional malls and 1,500 sq.ft. to 2,000 sq.ft. in freestanding facilities. Plans call for 50 openings in the coming 18 months. Expansion will take place throughout North America. The company is franchising.

Kernels Popcorn Ltd.

dba Kernels

Lisa Eisen

40 Eglinton Avenue East/ Suite 250

Toronto, Ontario, Canada M4P 3A2

416-487-4194, Fax 487-3920

Food

The 73-unit chain operates locations throughout Canada. The stores, selling popcorn and gift packages, occupy spaces of 600 sq.ft. to 1,100 sq.ft. in regional malls. Plans call for 10 openings in the coming 18 months. Expansion will take place throughout Canada and in Asia. The company is franchising.

Koo Koo Roo, Inc.

dba Koo Koo Roo

James Constantinides

11075 Santa Monica Boulevard/ Suite 225

Los Angeles, CA 90025

310-479-2080, Fax 479-8843

Food

The 17-unit chain operates locations in CA, FL and NJ. The fast food chicken restaurants occupy spaces of 2,500 sq.ft. to 3,000 sq.ft. in freestanding facilities, strip centers and regional malls with outside access. Plans call for 50 openings in the coming 18 months. Expansion will take place in CA, CT, FL, NJ and NY.

Larry's Giant Subs

Larry Raikes

8616 Bay Meadows Road

Jacksonville, FL 32256

904-739-2498, Fax 739-2502

Food

The 36-unit chain operates locations in FL. The restaurants, selling New York-style sandwiches and salads on an eat-in, take-out and delivery basis, occupy spaces of 1,400 sq.ft. in freestanding facilities and strip centers. Plans call for as many as 100 openings in the coming 18 months. Expansion will take place nationwide. The company is franchising.

Marble Slab Creamery

Ronald Hankamer, Jr.

3100 South Gessner/ Suite 305

Houston, TX 77063

713-780-3601

Food

The 42-unit chain operates locations in the Midwestern, Southern and Western regions. The restaurants, serving ice cream and frozen yogurt, occupy spaces of 1,100 sq.ft. in regional malls, power and strip centers. Plans call for six openings in the coming 18 months. Expansion will take place in AL, CA, FL, GA, MO and NV.

Charthouse Enterprises

dba Paradise Bakery

Stacy Peters

115 South Acacia Avenue

Solana Beach, CA 92075

619-755-8281, Ext. 182, Fax 755-0497

Food

The 51-unit chain operates locations in AZ, CA, CO, OK, OR, TX, WA, HI and Canada. The bakery and cafes occupy spaces of 1,400 sq.ft. in downtown store fronts, freestanding facilities, regional malls and strip centers. Plans call for as many as 30 openings in the coming 18 months. Expansion will take place in CA, FL, IL, NV and NY.

Philly Franchising Co.

dba Philly Connection

Jon Pollock

120 Interstate North Parkway East/ Ste. 112

Atlanta, GA 30339

404-952-6152, Fax 952-3168

Food

The 45-unit chain operates locations in FL, GA, KY and NC. The restaurants, serving cheesesteak sandwiches and hoagies on an eat-in, take-out and delivery basis, occupy spaces of 1,200 sq.ft. in shared freestanding facilities and strip centers. Plans call for 15 openings in the coming 18 months. Expansion will take place in AL, KY, NC, SC and TN. The company is franchising.

Pizza Ranch, Inc.

dba The Pizza Ranch

Lawrence Vander Esch

1112 Main Street, Box 823

Hull, IA 51239

712-439-1150, Fax 439-1125

Food

The 73-unit chain operates locations in IA, MN, ND, NE, MI and SD. The restaurants, serving pizza and chicken, occupy spaces of at least 4,000 sq.ft. in downtown store fronts, freestanding facilities and regional malls. Plans call for as many as 50 openings in the coming 18 months. Expansion will take place in the existing markets as well as in IL, MO and WI. The company is franchising.

P.J.'s USA, Inc.

dba PJ's Coffee & Tea

Ms. Skye McCloud

500 North Hagan Avenue

New Orleans, LA 70119

504-486-2827, Fax 486-2345

Food

The 17-unit chain operates locations in FL, LA, NC and TX. The cafes serve coffee, tea, pastries and related items while using spaces of 1,300 sq.ft. in downtown store fronts and strip centers. Plans call for as many as 10 openings in the coming 18 months. Expansion will take place in AL, FL, NC, SC, TN and TX. The company is franchising.

Pretzelmaker, Inc.

dba Pretzelmaker

Marc Geman

1050 Seventeenth Street/ Suite 1400

Denver, CO 80265

303-573-4800, Fax 573-0004

Food

The 100-unit chain operates locations throughout North America. The stores, selling gourmet pretzels and beverages, occupy spaces of 600 sq.ft. to 700 sq.ft. in power centers and regional malls. Plans call for as many as 200 openings in the coming 18 months. Expansion will take place in the Western region and in Canada.

The Quizno's Corp.

dba Quizno's, Quizno's Classic Subs

Debbie Leider

7555 East Hampden Avenue/ Suite 601

Denver, CO 80231

303-368-9424, Fax 368-9454

Food

The 100-unit chain operates locations in 17 states. The restaurants, serving submarine sandwiches, soups, salads, specialty baked cookies and desserts, occupy spaces of 1,600 sq.ft. to 1,800 sq.ft. in freestanding facilities and strip centers. Plans call for as many as 60 openings in the coming 18 months. Expansion will take place nationwide. The company is franchising.

Semolina

Hans Limburg

4621 West Napoleon Avenue

Matairie, LA 70001

504-454-9700, Ext. 305, Fax 454-9717

Food

The 12-unit chain operates locations in FL, GA and LA. The restaurants, which feature an international pasta bar, occupy spaces of 3,500 sq.ft. to 4,000 sq.ft. in freestanding facilities. Plans call for two openings in the coming 18 months. Expansion will take place within the existing markets.

Stuft Pizza Franchise Co.

dba Stuft Pizza

Modi Rodrieguez

1040 Calle Cordillera/ Suite 103

San Clemente, CA 92673

714-361-2522, Fax 361-2501

Food

The 32-unit chain operates locations in CA and OR. The restaurants, serving pizza, sandwiches, pasta and salads, occupy spaces of 1,200 sq.ft. to 4,000 sq.ft. in freestanding facilities, regional malls and strip centers. Plans call for three openings in the coming 18 months. Expansion will take place in CA. The company is franchising.

Sub Station II, Inc.

dba Sub Station II

Susan Vaden

PO Drawer 2260

Sumter, SC 29150

803-773-4711, Fax 775-2220

Food

The 95-unit chain operates locations throughout the Southeastern region. The restaurants, serving subs and deli-style sandwiches, occupy spaces of 1,500 sq.ft. to 1,800 sq.ft. in freestanding facilities, regional malls and strip centers. Plans call for 15 openings in the coming 18 months. Expansion will take place in Southern CA, the Southern and Midwestern regions. The company is franchising.

Tippy's Taco House

W.L. Locklier

PO Box 2253

McKinney, TX 75070

214-547-0888

Food

The 22-unit chain operates locations in PA, NC, SC, FL, MD, VA, TX and Washington, D.C. The fast food restaurants occupy spaces of 1,000 sq.ft. to 3,000 sq.ft. in freestanding facilities and pad sites of regional malls. Growth opportunities are sought nationwide.

Mergers & Acquisitions

Cinnabon World Famous Cinnamon Rolls (206-545-4320) has acquired six franchised Cinnabon Bakeries in the Boston, MA area from Ascott, Inc. Cinnabon operates more than 300 units in 37 states, Canada and Mexico.

Burger King Corp. (305-378-3243) plans to acquire 10 Charlotte, NC area Burger King restaurants from a franchisee. The company, which operates 8,100 units worldwide, is looking to increase its number of company-owned restaurants.

Carson Pirie Scott & Co. (414-347-5306) plans to acquire a Lord & Taylor department store at Fox Valley Mall in Aurora, IL from The May Department Stores Company this month. The 120,000 sq.ft. store will be renamed Carson Pirie Scott.

Zale Corp. (214-580-4000) recently acquired the 20-unit chain Karten Jewelers with locations in New England. The company plans to rename the stores Zales.

Dollar Tree Stores (804-857-4600) has agreed to acquire Terrific Promotions, operator of 136 Dollar Bill$ discount stores.

Fleming Cos. (405-841-8313) recently acquired ABCO Markets, a 71-unit supermarket chain.

The Pantry, Inc. (919-774-6700) recently sold a 93% equity stake in the company to Freeman Spogli and Co., Inc. and Chase Manhattan Capital Corp. for $50 million. The Pantry operates 403 convenience stores in KY, IN, NC, SC and TN.

Edison Brothers Stores, Inc. (314-331-6000) recently entered into a definitive purchase agreement with Namco Cybertainment, Inc. to sell the assets and selected stores of Edison Brothers Mall Entertainment and Horizon Entertainment. Namco submitted the highest of two offers to Edison Brothers in accordance with the court-approved bidding procedures. The sale is subject to bankruptcy court approval.

West Coast Entertainment Corp. (215-677-1000) purchased 44 Palmer Video stores in NJ and NY for $10 million in cash and $10 million stock; 29 Red Giraffe Video stores in KY, IN and OH for $11.5 million in cash and $4.8 million in stock; 45 Videoland stores in OH and PA for $7.2 million in cash and $1.8 million in stock; 12 Video Giant stores in AR, FL, LA and TX for $1.7 million in cash and $7.3 million in stock; 12 A-Z Video stores in NJ and PA for $4.3 million in cash; 12 Showtime Video stores trading as Forbes Video in VA for $3.5 million in cash; four Video Video stores in NJ for $2.5 million in cash and 14 stores from four West Coast franchisees in MA for $11.7 million in cash. The transactions are expected to be completed during May.

Alfalfa's (303-440-5220) and Wild Oats (303-689-9258) plan to merge to form the nation's second largest natural foods grocery chain with 32 stores. The newly merged company does not plan to change store names or close stores and is looking to open as many as eight additional stores. A new name for the holding company will be chosen after the merger closes during May.

Einstein Bros. Bagels, Inc. (303-202-3326) has agreed to acquire Noah's New York Bagels, Inc., which operates 37 stores in CA and WA. Einstein plans to keep the Noah name and develop the concept in CA, OR and WA.

Claire's Stores, Inc. (708-860-6600) recently purchased 85 stores formerly operated by The Icing, Inc. The company plans to continue to use The Icing name in mall locations where Claire's already has stores. In malls where Claire's does not have stores, The Icing stores will be renamed Claire's, Etc. The acquisition increases Claire's store count to more than 1,400 units.

47th Street Photo (718-643-3300), which recently emerged from bankruptcy, was purchased by Stuart and Ira Held for $2 million. The brothers plans to raise $48 million through a public stock offering and use the proceeds to open new stores. The company, which only has one store open, is planning to open a unit on Wall Street in Manhattan, NY and a unit on Long Island, NY this year.

Arby's, Inc. (305-351-5100) and T.J. Cinnamons, Inc. (201-422-0910) jointly announced that they had reached an agreement in principle in which Arby's will purchase the trademarks, service marks, recipes and secret formulas of T.J. Cinnamons. Arby's will license back to T.J. Cinnamons the ability to operate existing locations and grant licenses for full-concept T.J. Cinnamons Bakeries and to distribute T.J. Cinnamons products through retail grocery outlets. Arby's will pay $1.75 million at the closing, which is subject to due diligence and other conditions, and $1.25 million by the end of this year. The deal also calls for the payment of up to an additional $6 million over time dependent upon the amount of T.J. Cinnamons product sales by Arby's.

Lease Signings

Erwin L. Greenberg Commercial Corp. (410-837-2500) leased space to Hoss's Steak & Sea House at Delco Plaza in Winchester, VA.

LaSalle Partners (203-275-6100) leased 1,100 sq.ft. to The Husky Shop II and 900 sq.ft. to 90's Nails at Civic Center Mall in Hartford, CT.

MJB Real Estate Services Corp. (203-222-6200) leased 3,200 sq.ft. to Brandman's Paint and 3,300 sq.ft. to Elegance Cleaners at Compo Shopping Center in Westport, CT and 1,520 sq.ft. to Perfection Hairsalon at Nash's Corner in Westport, CT.

Property Resources (919-831-9090) leased space to Oreck Vacuums at Deerfield Plaza in Surfside Beach, SC and space to Jin Q. Huang for a Chinese restaurant at Cross Creek Shopping Center in Durham, NC.

Mortbitzer Group, Inc. (407-539-1000) leased 2,250 sq.ft. to Chamberlin's Natural Foods, Inc. at Winter Park Mall in Winter Park, FL; 1,736 sq.ft. to Bagel King Bakery at Shoppes of International Place in Orlando, FL; 1,750 sq.ft. to Fortune Gardens and 2,450 sq.ft. to DiRob Enterprises, Inc. for a Beef O'Bradys restaurant at Village Marketplace in Port Charlotte, FL; 2,958 sq.ft. to Bagel Blvd. of Florida at The Avenue Shoppes at Florida Mall in Orlando, FL; 6,666 sq.ft. to Dollar General at Magnolia Layne Shopping Center in Green Cove Springs, FL and 2,000 sq.ft. to Instruction Junction at Sherwin Williams in Kissimmee, FL.

Neal Mannausa, Inc. (941-365-1511) leased 2,087 sq.ft. to H&R Block Eastern Tax Services, Inc. at The Colonnade Shopping Center in Sarasota, FL; 1,200 sq.ft. to Greeting Card Outlet at Charlotte Square Shopping Center in Port Charlotte, FL and 1,100 sq.ft. to Ultimate Re-Bath at The Colonnade Shopping Center in Sarasota, FL.

Schultz Properties, Inc. (904-354-1789) leased 2,420 sq.ft. to Golden Thai Restaurant at Merchant's Walk in Jacksonville, FL.

KLNB, Inc. (703-356-8230) leased 17,300 sq.ft. to K&G Men's Center at Meadows Park Business Park in Woodlawn, MD.

Bayer Properties, Inc. (205-939-3111) leased 4,450 sq.ft. to Carpet Max, 5,445 sq.ft. to Mark Smith's Taekwondo and space to Mattress King at Eastwood Festival Centre in Birmingham, AL; 2,000 sq.ft. to Eagle Cleaners at Northwood Shopping Center in Northport, AL; 910 sq.ft. to PathCare at Beacon Place in Birmingham, AL; space to H&R Block at Ash Place in Birmingham, AL and space to Unistar Computers at Hoover Village in Birmingham, AL.

CB Commercial Real Estate (619-546-4663) leased 2,600 sq.ft. to Pearle Vision at Escondido Promenade Shopping Center in Escondido, CA.

First Union Management, Inc. (216-781-4030) leased 7,000 sq.ft. to Blockbuster Video at Crossroads Mall in Fort Dodge, IA.

CB Commercial Real Estate Group, Inc. of Anaheim (714-939-2220) leased 25,000 sq.ft. to Wild Oats Market in Mission Viejo, CA; 9,600 sq.ft. to Wild Oats Market in Laguna Hills, CA and 15,000 sq.ft. to Shelves & Cabinets Unlimited, Home America in Fountain Valley, CA.

Space Place

Colorado

Colorado Springs- Rustic Hills Shopping Plaza is anchored by T.J. Maxx and Gart Bros. Superstore. The project has build-to-suit spaces ranging from 30,000 sq.ft. to 80,000 sq.ft. available for lease. The site is located 1/4 mile from a regional mall.

For details, contact Todd Okum of Portland Investment Co. of America at (310-441-8411), Fax (475-9112).

Ohio

Cincinnati- 5 Mile Center is anchored by PetsMart, Fuddruckers and Outback Steakhouse. The project has a 1,260 sq.ft. end cap space available for lease. The site is located near Beechmont Mall. In Dayton- Pinewood Plaza is anchored by Kroger. Spaces of 4,000 sq.ft. and 6,000 sq.ft. are available for lease. In Troy- Troy Plaza is anchored by Kroger. The project has two spaces of 1,400 sq.ft. and a 4,200 sq.ft. space available for lease. Outlots and additional building space is also available for lease.

For details, contact David Birdsall of Midland Group at (513-891-2323), Fax (891-2467).

Steubenville- Tri-State Plaza is anchored by Kmart, Phar Mor, Sun TV & Appliance and The Italian Oven. The 213,500 sq.ft. project has spaces of 1,200 sq.ft. and 3,600 sq.ft. available for lease. The site is located across from a regional mall.

For details, contact Todd Okum of Portland Investment Co. of America at (310-441-8411), Fax (475-9112).

Sylvania- Sylvania Marketplace is anchored by The Pharm and Major Magic. The 91,265 sq.ft. project has a space of 15,000 sq.ft. and an outlot available for lease. The site is located at the intersection of Monroe Street and Alexis Road, which generate a combined daily traffic count of 33,000 vehicles, and near Franklin Park Mall. In Toledo- Shops at Franklin Place is anchored by Target, Media Play, OfficeMax and Discovery Zone. The 230,000 sq.ft. project has spaces of 4,000 sq.ft. and 8,000 sq.ft. available for lease. The site is located at the intersection of Monroe Street and Talmadge Road which generate a combined daily traffic count of 53,000 vehicles.

For details, contact William Cosgrove (Sylvania Marketplace) or Stephen Serchuk (Shops at Franklin Place) of Zyndorf/Serchuk, Inc. at (419-249-7070), Fax (255-2439).

Tennessee

Murfreesboro- Broad Street Centre is anchored by Kmart, Payless ShoeSource, Cato, Walgreens and Radio Shack. The 190,000 sq.ft. project has an outparcel available for lease. In-line spaces ranging from 13,000 sq.ft. to 60,000 sq.ft. will be available for lease late this year.

For details, contact Anthony Vita of Vita and Vita Realty Corp. at (201-227-5233).

Nashville- Priest Lake Plaza Shopping Center is anchored by Kroger and Revco. The 126,700 sq.ft. project has a 16,000 sq.ft. space available for lease. Demographics include a five-mile population of 87,000 earning $44,000 as the average household income.

For details, contact David Rosen of Rosen Associates Management Corp. at (516-822-5350), Fax (433-3821).

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