Issue 10 for the week of March 22, 1996

The Dealmakers Issue Number 10 for the week of March 22, 1996.

Book Retailers Seeking Spaces

Barnes and Noble, Inc. trades as Barnes and Noble Superstores at 358 locations nationwide. The bookstores occupy spaces of 25,000 sq.ft. to 30,000 sq.ft. in strip centers. Plans call for 100 openings during 1996. Expansion will take place nationwide.

For more information, contact Jeff Burke, Barnes and Noble, Inc., 122 Fifth Avenue, New York, NY 10011; 212-633-3512, Fax 807-6033.

Lemstone, Inc. trades as Lemstone Books at 65 locations nationwide. The stores, selling Christian inspired books, music and gift items, occupy spaces of 1,400 sq.ft. to 2,000 sq.ft. in regional malls. Growth opportunities are sought nationwide.

For more information, contact Jim Doyle, Lemstone, Inc., 1123 Wheaton Oaks Court, Wheaton, IL 60187; 708-682-1400, Fax 672-1828.

Read All About It operates 10 locations in IA and NE. The bookstores occupy spaces of 1,800 sq.ft. to 3,000 sq.ft. in regional malls. Growth opportunities are sought in the existing markets.

For more information, contact Kim Hubner, Read All About It, PO Box 27007; Omaha, NE 68127; 402-734-3333, Fax 731-0516.

Association of Logos Book Stores does business as Logos Bookstores at 34 locations throughout North America and the Bahamas. The bookstores, which specialize in theology, philosophy and inspirational books as well as children's books, occupy spaces of 1,200 sq.ft. to 5,000 sq.ft. in regional malls and strip centers. Growth opportunities are sought nationwide. The company caters to a clientele in the upper-middle to upper income brackets.

For more information, contact Cindy Crosby, Association of Logos Book Stores, 5015 West State Road 46, Suite D, Bloomington, IN 47404; 812-876-6652, Fax 876-6654.

Half Price Books, Records, Magazines trades as Half Price Books at 52 locations in CA, IA, IN, MN, OH, TX, WA and WI. The stores sell new and used books, magazines, records, tapes and videos while using spaces of 6,000 sq.ft. in strip centers. Growth opportunities are sought along the Eastern Seaboard.

For more information, contact Robert Schirmer, Half Price Books, Records, Magazines, 5915 East N.W. Highway, Dallas, TX 75231; 214-360-0833, Fax 360-0187.

Books-A-Million trades as Books-A-Million at 66 locations and as Bookland at 65 locations in AL, AR, FL, GA, IL, IN, KY, LA, NC, ND, OH, SC, TN, VA and WV. The bookstores, which sell books, magazines and newspapers, occupy spaces of 4,000 sq.ft. to 20,000 sq.ft. in freestanding facilities, regional malls, power and strip centers. Plans call for 25 openings in the coming 18 months. Expansion will take place in the existing markets as well as in MI and MO.

For more information, contact Lyle Darnall, Books-A-Million, 402 Industrial Lane, Birmingham, AL 35211; 205-942-3737, Fax 942-2147.

Exclusives : Leasing & Management Assignments

Garrick-Aug Store Leasing, Inc. (212-557-9090) has been awarded six midtown New York City leasing assignments. They include the 24,500 sq.ft., two-story, freestanding building, available at 16-20 West 48th Street which includes 7,500 sq.ft. each on the ground level, selling basement and second floor; the space at 277 Park Avenue which offers 4,000 sq.ft. at the ground level; and space on Lexington Avenue which include 2,800 sq.ft., 5,000 sq.ft., 1,400 sq.ft., and 3,000 sq.ft.

Keen Realty Consultants, Inc. (516-482-2700) has been appointed Special Real Estate Consultant to Accessory Place, Inc. by the U.S. Bankruptcy Court. Keen has been retained to assist Accessory Place in disposing its remaining 49 store leases. The stores are located nationwide in 12 states and range in size from 800 sq.ft. to 2,200 sq.ft. The locations are primarily in regional malls, although there are several prime New York City locations. As part of the agreement, Keen will conduct an auction of the leases. The auction will be in two phases: first, the submission of sealed bids by noon on March 25 and second, a live auction in the Bankruptcy Court at 2 p.m. on March 26.

Hicks & Rotner Associates, Inc. (301-656-3030) has been appointed the leasing agent for seven shopping centers owned by Kranzco Realty Trust. They include the 173,000 sq.ft. Anneslie Shopping Center in Towson, MD; the 33,000 sq.ft. Campus Hills Shopping Center in College Park, MD; the 86,000 sq.ft. Coral Hills Shopping Center in Coral Hills, MD; the 131,000 sq.ft. Culpeper Town Mall in Culpeper, VA; the 293,000 sq.ft. Fox Run Shopping Center in Prince Frederick, MD; the 102,000 sq.ft. Hillcrest Plaza in Frederick, VA and the 333,000 sq.ft. Jefferson Plaza in Woodbridge, VA.

Sigma National, Inc. (804-320-6100, Ext. 320) has been named the exclusive leasing agent for Janaf Shopping Center in Norfolk, VA. The 884,466 sq.ft. project is anchored by Montgomery Ward, T.J. Maxx, J.C. Penney, General Cinemas, Sports Authority, OfficeMax, Circuit City, Marshall's, PetsMart, Discovery Zone, Old Navy Clothing Co. and Home Quarters Warehouse. An anchor space for up to 45,000 sq.ft., retail spaces from 2,500 sq.ft. to 12,000 sq.ft. and two outparcels are available for lease.

Financial News...

Kmart Corporation (810-643-1000) reported a net loss of $571 million during 1995 as compared to net income of $296 million during 1994. Total sales during 1995 were $34.389 billion an increase of 5.8% from $32.514 billion during 1994. Comparable store sales increased 4.3% with U.S.-based comp store sales up 5.6%. The company currently operates 2,168 Kmart stores, 167 Builder's Square stores and 147 international units.

Best Buy Co., Inc. (612-947-2000) reported fiscal 1996 sales of $7.217 billion, a 39% increase over FY95 sales of $5.192 billion. Comparable stores sales for the year increased six percent. The company currently operates 251 units nationwide and is planning to open 25 stores during its current fiscal year.

Hechinger Company (301-341-0926) reported a net loss of $77.6 million during fiscal 1995 compared to a net loss in FY94 of $9.9 million. The major components of the loss included a pre-tax loss from operations before unusual charges of $25.3 million; a pre-tax charge of $25 million associated with the merger of its Hechinger Stores and Home Quarters Warehouse stores; and a pre-tax, non-cash charge of $30.3 million related to the early adoption of SFAS No. 121. The company also reported that FY95 sales were down eight percent to $2.25 billion from $2.45 billion during 1994 and that comparable store sales fell eight percent. The company operates 64 Hechinger stores and 54 Home Quarters Warehouse stores in 21 states.

Federated Department Stores (513-579-7000) is considering changing the name of Burdine's Department stores to Macy's as part of its overall strategy to eventually consolidate all of its department stores under the Bloomigdale's, Macy's and Stern's names.

Fay's, Inc. (315-451-8000) reported that its revenues for fiscal 1996 increased 5.7% to $973.8 million from $921.3 million during FY95. Earnings from continuing operations, excluding restructuring charges, were $7 million compared to $12.9 million during FY95. Comparable store sales increased 1.8%. The company, which sold its Wheels Discount Auto Supply division and is negotiating to sell its Paper Cutter division, currently operates 273 drug stores in NH, NY, PA and VT.

Venture Stores, Inc. (314-281-5500) reported that its sales for 1995 were $1.928 million a 4.4% decrease compared to 1994 sales of $2.017 million. Comparable store sales fell 9.4% for the year. The company currently operates 115 stores in nine states.

Pacific Sunwear of California, Inc. (714-701-4063) reported that sales for 1995 increased 31% to $112.9 million from $86.2 million during 1994, but that comparable store sales fell two percent for the year. Net income for FY95 was $2.624 million compared to FY94 net income of $3.851 million. The company operates 183 stores in 32 states.

Brown Group, Inc. (314-854-4000) reported consolidated net sales from continuing operations for FY95 of $1.455 billion compared to $1.461 billion during FY94. Net earnings were $3.297 million compared to $39.398 million last year. Sales for the Famous Footwear division increased 20% to $741 million, but comparable stores sales fell three percent. During 1995, the company opened 92 stores and operates 814 units. Plans call for 23 new stores during 1996. Sales in the Naturalizer division fell seven percent to $115 million with comparable store sales down four percent. The company operates 313 units.

The Limited, Inc. (614-479-7000) reported fiscal year net income results of $312 million with net sales increasing eight percent to $7.881 billion from $7.321 billion. Highlights of the year include the opening of 180 Bath & Body Works stores and the opening of 33 stores and an 80% increase in operating income dollars of the Abercrombie & Fitch stores. The company currently operates 5,300 units trading as The Limited, Express, Lerner New York, Lane Bryant, Henri Bendel, Structure, Abercrombie & Fitch, Limited Too, Gaylan's, Victoria's Secret, Bath & Body Works, Cacique and Penhaligon's.

Quantum Restaurant Group, Inc. (516-627-1515) plans to change the name of its company to Morton's Restaurant Group, Inc. The change is being made in recognition of the strong brand name identification of its flagship restaurant chain Morton's of Chicago, the Steakhouse. The name change is subject to stockholder approval, with a decision expected during May. The company currently operates 73 restaurants including 32 Morton's, 25 Mick's, 10 Peasant's and six Bertolini's Authentic Trattorias.

Who's Opening and Where...

Target Stores (612-370-6073) recently opened 115,000 sq.ft. units at Northland Shopping Center in Southfield, MI and at Eastland Center in Harper Woods, MI. The company also recently opened its first Mid-Atlantic region stores in Frederickburg and Woodbridge, VA. The company is planning to open 28 units along the East Coast as part of its overall goal of 75 new stores during 1996. Currently, the company operates 688 units nationwide and is the country's third largest discount retailer.

Nordstrom's (206-628-2111) recently opened department stores at the King of Prussia Plaza in King of Prussia, PA and at Somerset North in Troy, MI. The company also plans to open Nordstrom Rack stores, which sell first quality merchandise at reduced prices in spaces running 40,000 sq.ft. to 45,000 sq.ft., in IL this year and Costa Mesa, CA during 1997.

Kohl's Department Stores (414-783-1300) recently opened two stores in Wichita, KS as well as units at James River Towne Center in Springfield, MO and Howland Commons in Warren, OH. The stores range in size from 80,500 sq.ft. to 86,500 sq.ft. The company currently operates 136 units.

Albertsons (208-385-6200) recently opened a 50,222 sq.ft. supermarket in Upland, CA. The unit includes a fresh seafood counter, fresh cut flower case, video rentals, an expanded health & beauty aids section and a Wells Fargo Bank branch.

Ames Department Stores (203-257-2659) recently opened a unit in Lowell, MA.

Family Dollar Stores, Inc. (704-847-6961) recently opened a store in Charlotte, NC. It was the chain's 2,500th unit nationwide.

Borders, Inc. (313-913-1323) recently opened a Borders Books, Music & Cafe store in Pleasanton, CA.

Blockbuster Entertainment (305-832-3000) plans to open as many 15 "store-within-a-store" locations at Wal*Mart Supercenters this year. The departments will be separate from Wal*Mart's regular sell-through video sections and will only rent videos.

Wherehouse Entertainment (310-538-2314) plans to operate video rental departments at Lucky Supermarkets in El Cajon, Hemet, Lancaster and Oxnard, CA.

E-Z Mart Stores, Inc. (903-832-6502) recently opened two convenience stores in AR and is planning to open units in LA and TX this year. The company currently operates 369 units in AR, KS, LA, OK and TX.

Superpetz (513-222-9900) recently opened a 20,000 sq.ft. pet store across from Hampden Centre in Hampden Township, PA.

Publix Supermarkets (813-688-1188) is planning to open a unit in downtown Boca Raton, FL during 1997.

Men's Wearhouse (510-657-9821) plans to open a 4,900 sq.ft. men's apparel store in Columbia, SC.

Hamerick's (803-489-6095) recently opened a 17,000 sq.ft. women's apparel store at East Point Plaza in Columbia, SC.

CompUSA, Inc. (214-383-4488) plans to open a 25,600 sq.ft. store in Tigard, OR late this year and a 25,200 sq.ft. store in San Jose, CA during the Summer.

Bradlees, Inc. (617-380-5863) recently opened 90,000 sq.ft. stores in Providence, RI; Peabody and Worcester, MA. The new stores will also feature Bradlees new concept of selling higher-margin goods to maximize profits per item. The company is looking to sell higher quality merchandise at prices people will perceive as bargains. The new stores will include a Mrs. B's Bistro restaurant and a Pizza Hut express unit.

Houlihan's (816-756-2200) recently opened a 294-seat, two-level restaurant at Hartsfield International Airport in Atlanta, GA.

General Nutrition Companies, Inc. (412-288-4600) recently signed an exclusive development agreement with Korean Green Cross Corporation to open approximately 200 GNC units throughout Korea in the coming six years.

Michaels Stores (214-714-7077) plans to open as many as 15 Michaels units and five Aaron Brothers stores this year.

Pacific Sunwear of California (714-701-4063) plans to open 25 stores this year while expanding its footwear and junior apparel departments.

Bed, Bath & Beyond (201-379-1750) plans to open stores in Rockford and Muncie Park, IL; North Ridge, CA; Alpharetta, GA; West Oaks, TX; Independence, MO; Burlington, MA and Virginia Beach, VA before September of this year.

Rusty Pelican Restaurants, Inc. (714-753-1111) and Viacom (310-264-4200) recently formed Bubba Gump Shrimp Co. Restaurants, Inc. The companies plan to open a nationwide chain of casual dining restaurants inspired by the movie Forrest Gump. The first unit is expected to open next month in Monterey, CA. Plans call for 23 restaurants nationwide, primarily in tourist oriented waterfront locations. In addition to a collection of memorabilia from the Forrest Gump movie, each restaurant will feature a merchandise store offering licensed products as well as apparel and gifts developed for the chain. Site selection for future sites is underway in San Francisco and San Diego, CA as well as in Orlando, FL.

The Good Guys (415-615-5000) recently opened its latest concept, Generation 21, at McCarthy Ranch in Milpitas, CA. The 20,000 sq.ft. store features over 13,000 sq.ft. of retail floor space, including home theater rooms and an expanded consumer electronics departments, interactive displays and new signage.

Caldor Corporation (203-846-1641) plans to open stores in Silver Spring and District Heights, MD; Glen Oaks and Westbury, NY; Edgewater, NJ and Hunting Park, PA.

Lease Signings

The Macerich Co. (310-394-6911) leased 995 sq.ft. to Sunglass Express at Bristol Center in Santa Ana, CA; 1,432 sq.ft. to General Nutrition Center at Broadway Plaza in Walnut Creek, CA; 750 sq.ft. to Boulder Baseball Cards, 4,896 sq.ft. to Denim Works, 450 sq.ft. to Dynasty Diamonds, 480 sq.ft. to McDonald's Express, 477 sq.ft. to Portable City Electrics and 5,000 sq.ft. to Ruby Tuesday at Crossroads Mall in Boulder, CO; 4,362 sq.ft. to Jack's Monterey Cafe, 1,150 sq.ft. to One Touch Hair Salon, 1,650 sq.ft. to Optical Doctor and 723 sq.ft. to Shivers at Crossroads Mall in Oklahoma City, OK; 3,500 sq.ft. to Boston Market, 6,000 sq.ft. to Lakewood Jewelry Center and 5,000 sq.ft. to Super Mex Restaurant at Lakewood Center Mall in Lakewood, CA; 500 sq.ft. to Edo of Japan at The Mall at Northgate in San Rafael, CA; 400 sq.ft. to Game Force and 129,720 sq.ft. to Gottschalks at Park Lane Mall in Reno, NV; 586 sq.ft. to Fosters Freeze at Buenaventura Plaza in Ventura, CA; 2,400 sq.ft. to John T.'s Gifts for Him at Fresno Fashion Fair in Fresno, CA; 1,421 sq.ft. to Regis Hairstylists at Northride Mall in Salinas, CA; and 1,257 sq.ft. to Fara Fina Collection, 1,200 sq.ft. to Jamba Juice and 1,700 sq.ft. to V.P. Discount Health at Villa Marina Marketplace in Marina del Rey, CA.

The Sansone Group, Inc. (314-822-9009) leased 3,785 sq.ft. to Play Power, Inc. at Barrett Woods Corporate Center in St. Louis, MO.

CB Commercial Real Estate Group of Los Angeles, CA (310-516-2363) leased 10,000 sq.ft. to Patio World in Torrance, CA.

The Great Mall of The Bay Area (408-945-4022) leased 5,375 sq.ft. to Mondi Factory Store at The Great Mall of The Bay Area in Milpitas, CA.

United Commercial Realty (214-526-6262) leased 5,180 sq.ft. to Blockbuster Video at Tom Thumb Shopping Center in Desoto, TX.

Neal*Mannausa, Inc. (941-365-1511) leased 1,400 sq.ft. to Clothes and More at Oneco Square Shopping Center in Bradenton, FL.

Mid-Atlantic Realty Trust (410-684-2000) leased 26,161 sq.ft. to PetsMart and 24,600 sq.ft. to Bibelot bookstore at Harford Mall Annex Shopping Center in Bel Air, MD.

Buyers & Sellers of Commercial Properties

Moody Rambin Interests represented the seller in the sale of 2.12 acres of land in Houston, TX. The seller was Houston Fund XXI who sold the property to Cantoni Properties of Houston Ltd. who plans to construct a 30,000 sq.ft. showroom/warehouse on the site. Cantoni operates stores that sell contemporary furnishings and accessories.

For more information, contact Joan Collum at (713-773-5545), Fax (773-5595).

Commerce Group has the listing to sell former Color Tile locations in OH, OK, MA, NJ, PA, MD, VA, FL, TN and MO.

For more information, contact Eric Sheppard or Peter Ramsey at (800-456-4952).

Pliskin Realty and Development, Inc. is in the market to acquire shopping centers nationwide.

For more information, contact Pliskin Realty & Development, Inc. at (516-997-0100), Fax (997-7225).

Pathmark is selling and/or leasing former supermarkets and land in CT, MA, MD, NJ, NY and PA.

For more information, contact Steve Anderson or Dennis Bachman at (908-499-3354) or Cliff Bernstein or Mel Kenduck at (499-3357).

The Midland Group is in the market to acquire supermarket anchored shopping centers with expansion room for the grocer in the Midwest and Southeastern regions. An investment partnership of the company is looking to acquire triple net leased properties to credit worthy tenants in quality locations in large markets. Quality properties will command an aggressive capitalization rate.

For more information, contact Michael Towerman at (314-576-1900), Fax (576-7005).

Rein & Grossoehme brokered the sale of Fiesta Plaza in Tempe, AZ. The 32,400 sq.ft. project was sold to Fiesta Plaza Income Investors by Rural & Elliot L.L.C. for $2.015 million.

For more information, contact Mark Rein at (602-954-7000), Fax (954-7271).

Platinum Realty Group has the listing to sell two separate, contiguous freestanding properties in Springfield, NJ. The sites are net leased to Burger King and Grease Monkey. The asking price is $2 million.

For more information, contact David Hellman at (201-890-7242), Fax (812-7270).

The Hayward Group, Inc. is in the market to acquire triple net leases have terms of at least 10 years and shopping centers having GLAs of at least 100,000 sq.ft.

For more information, contact Robert Block at (312-489-8771), Fax (489-8831).

RMI is selling a PetsMart net lease in Long Island, NY. The company is also in the market to acquire value-added shopping centers.

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

Pyramid Brokerage Company, Inc. has the listing to sell 42 acres of land located at the intersection of Routes 11 and 81 in Cicero, NY. The site is a former drive-in theater. A JV partner will be considered.

For more information, contact John Donegan at (315-445-8524), Fax (445-2074).

CB Commercial Real Estate Group brokered the sale of a 40,000 sq.ft. freestanding building on 3.2 acres of land in Hoffman Estates, IL. The seller was Edward Hines Lumber Co. who sold the property to Butera Finer Foods Co. who plans to redevelop and expand the facility into a 77,807 sq.ft. shopping center that will be anchored by a Butera supermarket.

For more information, contact Jim Schutter at (708-706-4928).

Charter Realty & Development Corp. recently acquired The Village Square Shopping Center in Rock Hill, SC. The 60,000 sq.ft. project will be expanded to 75,000 sq.ft. and anchored by a Hannaford Bros. supermarket and Eckerd Drugs.

For more information, contact Charter Realty & Development Corp. at (203-629-3939).

Grubb & Ellis Co. has the listing to sell The Moreno Valley Auto Mall Travel Center, an approved Commercial Specific Plan with entitlements in place in Moreno Valley, CA. The city approved plan allows the immediate development of a gas station/mini-market/car wash, two fast food restaurants, 20 recreational vehicle/boat/auto dealership sites, 81-space R.V. park, retail center and a dinner house, leasing approximately 24 acres with 1,000 sq.ft. of freeway frontage available for future development. The asking price is $3.5 million and short-term seller financing may be available.

For more information, contact Scott Lisk at (909-390-8635, Ext. 126), Fax (390-8645).

The Carlton Group of New York has been retained by a major asset manager to sell approximately 80 non-performing loan assets with a principal balance of approximately $26 million. The collateral for the loans, consisting of retail, multi-family, industrial, office, lodging and mixed-use real estate, is located throughout NJ, PA, NY, CT, MA, RI, ME and DE. The Offering Summary which includes a pool schedule, a confidentiality agreement, and participation instruction is available. Upon execution of the confidentiality agreement, investors will receive a Loan Summary which contains asset-by-asset overviews of the portfolio. File Review (by appointment) will be conducted in NJ from April 1 through May 15. Offers will be due immediately after file review is concluded and investors will be required to close their purchases by mid-June. The seller will consider bids on each of the pools as well as for the portfolio as a whole. The assets are from securitized RTC portfolios.

For more information, contact Ruth Barone at (212-545-1000).

Summit Realty Leasing and Management Corporation brokered the sale of a 4,800 sq.ft. former Payless ShoeSource building in Boca Raton, FL. The sales price was $495,000. The company also brokered the sale of a 27,051 sq.ft. strip center in Tamarac, FL. The sales price was $1.25 million.

For more information, contact Summit Realty and Leasing Management Corp. at (407-368-2043), Fax (392-2551).

McDaniel and Company has the listing to sell Northeast Plaza in Chesnee, SC. The project has 250 feet of highway frontage and is located between a McDonald's restaurant and a Subway restaurant. The asking price is $180,000.

For more information, contact Bill McDaniel at (864-576-4660), Fax (587-7246).

Ross Realty Group, Inc. has the listing to sell Taylor Rental Building in Jacksonville, FL. The project is NNN-leased to a national credit tenant with 11 1/2 years remaining on the lease. The asking price is $700,000.

For more information, contact Karin Stewart at (813-725-2800), Fax (726-6780).

Letovsky Real Estate Corp. represents a client in the market to acquire single tenant net lease properties. Projects of interest include restaurants, ground leases, portfolios, government leased buildings, bond leases, gross leases, short and long term leases. Transactions can be all cash or assumption of existing debt. The company also has the listing to sell a 20-year net lease to a credit tenant. The project is located in Northern region and is priced at a nine percent cap rate.

For more information, contact Clifford Letovsky at (514-933-4300), Fax (933-5430).

First Realty has the listing to sell three restaurants, from one franchise, in southern Ocean County, NJ. All three projects, which are open year-round, gross over one million dollars annually.

For more information, contact Garry Wilson at (609-698-6100), Fax (698-0005).

Lead Sheet

London Fog Factory Stores

Emillo Amendola

c/o DJM Asset Management

99 Park Avenue

New York, NY 10016

212-922-1200, Fax 922-9155

Apparel

The 90-unit chain operates locations nationwide. The stores, selling London Fog family outerwear, rainwear and jackets, occupy spaces of 3,600 sq.ft. to 5,700 sq.ft. in freestanding facilities, outlet and strip centers. Plans call for five openings in the coming 18 months. Expansion will take place nationwide, exclusive of CA, FL and TX. The company is seeking spaces running 5,000 sq.ft. for its new stores.

M.J.D. Investments, Inc.

dba M.J. Designs

Mike Nuzum

500 Airline Drive

Coppell, TX 75019

214-304-2200, Fax 304-2225

Arts & Crafts

The 50-unit chain operates locations in GA, MD, NY, NC, TX and VA. The arts & crafts stores occupy spaces of 35,000 sq.ft. in strip centers. Plans call for as many as 15 openings in the coming 18 months. Expansion will take place in the existing markets.

Paccar Automotive

dba Grand Auto, Al's Auto

Joseph Beynon

1400 North Fourth Street

Renton, WA 98052

206-251-7086, Fax 251-7763

Automotive

The 125-unit chain operates locations in AK, CA, NV and WA. The automotive stores, which also offer repair services, occupy spaces of 7,000 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 CA, NV and WA.

Bed Bath & Beyond

Steven Temares

715 Morris Avenue

Springfield, NJ 07081

201-379-1750, Ext. 223

Bed & Bath

The 80-unit chain operates locations in AZ, CA, CT, FL, GA, IL, MD, MA, MI, MO, NJ, NY, PA, TX and VA. The stores, selling bed, bath and home decor items as well as housewares, occupy spaces of 30,000 sq.ft. to 85,000 sq.ft. in freestanding facilities, regional malls, outlet, power and strip centers. Plans call for 55 openings in the coming 18 months. Expansion will take place nationwide.

Le Marc's Hallmark

Ronald Falbee

226 Westbury Avenue

Carle Place, NY 11514

516-338-2612, Fax 338-0930

Cards

The nine-unit chain operates locations in NY. The stores, selling Hallmark cards, occupy spaces of 3,500 sq.ft. to 4,500 sq.ft. in downtown store fronts, regional malls and strip centers. Growth opportunities are sought in the existing market.

Lifecare Acquisitions, Inc.

dba Tutor Time

Tim Minnette

1220 Tutor Lane

Evansville, IN 47715

812-475-1075, Fax 475-9475

Child Care

The 83-unit chain operates locations in AL, CA, CO, FL, GA, IL, IN, NJ, NY, NV, NC, SC, TX and WA. The concept, offering child care services, occuiesy spaces of 8,000 sq.ft. to 12,000 sq.ft. in freestanding facilities on at least one acre of land. Plans call for 50 openings in the coming 18 months. Expansion will take place nationwide. The company prefers build to suit deals.

Express Lane, Inc.

dba Express Lane

Reid Lewis

1328 Jenks Avenue

Panama City, FL 32401

904-769-8977, Fax 785-3538

Convenience

The 40-unit chain operates locations in FL and GA. The convenience stores, which also sell gasoline, occupy spaces of 2,400 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.

Lee's Beauty & Barber Supply

Su-Myong Lee

14777 West Seven Mile Road

Detroit, MI 48235

313-272-4000, Fax 272-4005

Cosmetics

The 14-unit chain operates locations in MI. The stores, selling health and beauty supplies for men and women, occupy spaces of 4,000 sq.ft. to 5,000 sq.ft. in strip centers. Plans call for one opening in the coming 18 months. Expansion will take place in the existing market.

The Good Guys

Brad Kaye

7000 Marina Boulevard

Brisbane, CA 94005

415-615-5000, Fax 615-6288

Electronics

The 70-unit chain operates locations in CA, NV, OR and WA. The stores, selling consumer electronics, occupy spaces of 20,000 sq.ft. to 55,000 sq.ft. in power and strip centers. Plans call for 15 openings in the coming 18 months. Expansion will take place in the existing markets.

Miami Subs, Inc.

dba Miami Subs USA

Richard Palnisciano

6300 Northwest 31st Avenue

Fort Lauderdale, FL 33309

305-973-0000, Fax 973-7616

Food

The 169-unit chain operates locations in CT, FL, GA, IL, NJ, NY, NC, SC, TN and TX. The restaurants, serving submarine sandwiches, salads and soup, occupy spaces of 3,000 sq.ft. to 4,000 sq.ft. in freestanding facilities. Growth opportunities are sought nationwide.

Ivan Smith Furniture

Bob Alexander

503 West 70th Street

Shreveport, LA 71106

318-688-1335, Fax 688-0628

Furniture

The 36-unit chain operates locations in AR, LA and TX. The stores, selling furniture, appliances and electronics occupy spaces of 10,000 sq.ft. to 17,000 sq.ft. in freestanding facilities and strip centers. Plans call for three openings in the coming 18 months. Expansion will take place in AR and TX.

Dollar General Corp.

dba Dollar General Stores

Tom Holsted

427 Beech Street

Scottsville, KY 42164

502-237-5444, Ext. 5239, Fax 237-3246

General Merchandise

The 2,400-unit chain operates locations in AL, AR, FL, GA, IA, IL, KS, KY, LA, MO, MS, NE, NC, OK, SC, TN and TX. The stores occupy spaces of 7,200 sq.ft. to 7,500 sq.ft. in downtown store fronts, freestanding facilities and strip centers. Growth opportunities are sought in the existing markets.

Barbers Hairstyling for Men & Women

dba Cost Cutters Family Hair Care,

City Looks Salons International

Julie Wolleat

300 Industrial Boulevard Northeast

Minneapolis, MN 55413

612-331-8500, Fax 331-2821

Hair Salon

The company operates 649 Cost Cutter units nationwide and 57 City Looks units in IA, IL, MI, MN, ND, PA and WI. The hair salons occupy spaces of 900 sq.ft. to 1,200 sq.ft. in downtown storefronts, regional malls, outlet and strip centers. Plans call for 100 Cost Cutter openings in the coming 18 months. Expansion will take place nationwide. Plans also call for five City Looks openings in the coming 18 months. Expansion will take place in France, Russia and the Ukraine.

ACO, Inc.

dba ACO Hardware

David Gronbach

23333 Commerce Drive

Farmington Hills, MI 48335

810-615-2604, Fax 615-2696

Hardware

The 66-unit chain operates locations in MI. The hardware stores occupy spaces of 8,000 sq.ft. to 10,000 sq.ft. in strip centers. Growth opportunities are sought in the existing markets.

L.A. Fitness Sports Clubs

Paul Norris

100 Bayview/ Suite 4000

Newport Beach, CA 92660

714-509-2550, Fax 509-2540

Health Club

The 31-unit chain operates locations in AZ and CA. The health and fitness clubs occupy spaces of 20,000 sq.ft. to 35,000 sq.ft. in regional malls and strip centers. Growth opportunities are sought in the existing markets.

Rolling Pin Gourmet Kitchen Emporium

Victoria Childers

c/o Venture Development

800 West 47th Street

Kansas City, MO 64112

816-531-8898, Fax 531-8818

Housewares

The 38-unit chain operates locations in AL, AR, AZ, FL, GA, IA, IL, KY, LA, NC, OH, PA, SC, TN and VA. The stores, selling kitchen and cooking utensils, books, novelties and decorative accessories, occupy spaces of 1,600 sq.ft. to 2,000 sq.ft. in regional malls. Plans call for eight openings in the coming 18 months. Expansion will take place within the existing markets.

Multimedia Replay

Steve Moriarty

1428 West Lake Street

Minneapolis, MN 55408

612-823-2205

Music

The company operates one unit in MN. The store, selling new and used CD-ROM software, occupies a 1,500 sq.ft. space at a strip center. Plans call for as many as five openings in the coming 18 months. Expansion will take place in the existing market.

Kit's Cameras, Inc.

dba Kit's Cameras

Mary Montross

6051 South 194th Street

Kent, WA 98032

206-872-3688, Fax 872-8419

Photography

The 130-unit chain operates locations in AK, AZ, CA, ID, NV, NM, OR and WA. The stores, selling cameras and related photography equipment, occupy spaces of 1,200 sq.ft. to 1,600 sq.ft. in regional malls and community centers. Plans call for 20 openings in the coming 18 months. Expansion will take place in the existing markets as well as TX.

Gryder Group, Inc.

dba Gryder Shoes, Neil's Footgear

Bill Gryder

795 Vieux Marche

Biloxi, MS 39530

601-374-2161, Fax 374-2164

Shoes

The 15-unit chain operates locations in AL, LA and MS. The stores, selling shoes for the family, occupy spaces of 2,400 sq.ft. in regional malls and strip centers. Growth opportunities are sought in the existing markets.

Magic Max, Old Town Magic

Bob Schall

c/o 1st Charter Group

3501 West Vine Street

Kissimmee, FL 34741

407-847-7330, Fax 847-4001

Specialty

The 15-unit chain operates locations in CA, FL, MD, NV and NY. The concept, offering entertainment (in-store demonstrations done 15 times a day) while featuring merchandise for novice magicians to serious hobbyists, occupy spaces of 500 sq.ft. to 800 sq.ft. in regional malls and outlet centers. Plans call for as many as 50 openings in the coming 18 months. Expansion will take place nationwide.

Koenig Sporting Goods

dba Koenig Sports

Brian Koenig

6675 Parkland Boulevard

Solon, OH 44139

216-248-7010, Fax 248-9136

Sporting Goods

The 39-unit chain operates locations in MI, NY, OH, PA, VA and WV. The sporting goods stores, which also sell shoes and apparel, occupy spaces of 6,000 sq.ft. to 20,000 sq.ft. in regional malls, power and strip centers. Growth opportunities are sought in the existing markets as well as throughout IN.

Shopping Center Markets

Sidney Hiller

24359 North Western Highway #150

Southfield, MI 48075

810-355-2122, Fax 355-5930

Supermarket

The six-unit chain operates locations in MI. The supermarkets occupy spaces of 58,000 sq.ft. in freestanding facilities and strip centers. Growth opportunities are sought in the existing market.

Hollywood Entertainment

dba Hollywood Video

Director of Real Estate

25600 SW Parkway Center Drive

Wilsonville, OR 97070

503-677-1600, Fax 570-1721

Video

The 300+-unit chain operates locations in AR, AZ, CA, CO, IN, KS, MS, MN, MO, MI, IL, NM, NV, OH, OK, TN, UT, TX, VA, WA, OR and WI. The stores, which rent and sell video and video games, occupy spaces of 5,000 sq.ft. to 18,000 sq.ft. in freestanding facilities and strip centers. Growth opportunities are sought nationwide.

New Construction

Clifpass Development, Inc. recently began the demolition work at the former Fortsman Mills factory (aka the Duralite factory) in Clifton and Passaic, NJ. Construction on a 200,000 sq.ft. strip center is expected to begin during Spring. The project will be anchored by a 57,000 sq.ft. Pathmark Supermarket and an unidentified 113,000 sq.ft. department store. Spaces for 20,000 sq.ft. of specialty shops and a 5,000 sq.ft. pad site will also be constructed. The project is expected to open late this year.

For more information, contact Natascha Nassimi of Clifpass Development, Inc. at (212-643-8080).

Glimcher Realty Trust recently broke ground on phase I of Meadowview Square Shopping Center in Kent, OH. The project will be anchored by a 126,000 sq.ft. Wal*Mart store and will include 25,000 sq.ft. for specialty stores. Opening is expected during the fourth quarter of this year.

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

Price Enterprises, Inc. is nearing completion of HomePlace Square Shopping Center in Dallas, TX. The project is anchored by HomePlace, CompUSA, Wickes Furniture and Just For Feet.

For more information, contact Jim Villars at (619-581-4891).

Lerner Enterprises plans to break ground this summer on Dulles Town Center in Dulles, VA. Phase I of the project will be anchored by a 180,000 sq.ft. Hecht's department store, a 150,000 sq.ft. Sears and a 125,000 sq.ft. J.C. Penney. Phase I will also consist of 300,000 sq.ft. of mall tenants on two levels, four mini-anchors of 40,000 sq.ft. each, a multi-plex theater, an entertainment center, restaurants and a food court. Phase II will consist of two major department store anchors and additional mall space. Phase I of the project is expected to open during 1998. Small shop leasing is currently underway. The project is located on a 554-acre tract of land that is currently zoned to allow development of a 1.2 million sq.ft. regional shopping center on 100 acres with 40 acres of outparcel peripheral restaurant, bank and small office development around the mall. The balance of the site is zoned to allow development of 3.3 million sq.ft. of office space, 1.5 million sq.ft. of industrial space and 1,100 townhouse and apartment units as well as two hotels.

For more information, contact William P. Ferrell, Director of Leasing at Lerner Enterprises, at (301-984-1500), Fax (770-0144).

Retailers Keeping Up with The Times

Hannaford Bros. Co. (207-883-2911) and KeyCorp recently executed an exclusive licensing agreement calling for the opening of 30 full-service Key Bank units inside Hannaford Bros. supermarkets in ME, NY, NH and VT.

Kroger (513-762-4000) recently added Ticketmaster outlets to 25 of its supermarkets in Marion County, IN. The company plans to add the outlets to other Kroger stores throughout the state.

Kmart Corporation (810-643-1000) announces the launch of a private label Kmart Credit Card through Beneficial National Bank USA. The private label credit card debuted at 160 traditional Kmart stores and six Super Kmart Center in 11 test markets. After a 90-day test, the company plans to roll-out the card at all of its Kmart locations nationwide. The markets selected for the trial period include Buffalo and Rochester, NY; Minneapolis, MN; St. Louis, MO; Columbus, OH; Houston, TX; Tampa, FL; Denver, CO; Sacramento, CA; Seattle, WA and Phoenix, AZ.

OfficeMax, Inc. (216-295-6411) and Federal Express Corp. recently reached an agreement that will allow Federal Express to place 500 FedEx ShipSite drop boxes at OfficeMax locations nationwide. OfficeMax is expecting that the drop boxes will help to increase sales at the stores.

Space Place

Georgia

Duluth- Pleasant Hill Pointe is anchored by Ingles and Big B Drugs. The project has a 28,212 sq.ft. Baby Superstore available for sublease during the first quarter of 1997. Demographics include a five-mile population of 131,000 earning $53,000 as the average income.

For more information, contact Amy Kennedy or Steve Sachs of Alterman Associates, Inc. at (770-984-1323), Fax (984-1007).

Illinois

Chicago- Bricktown Square is anchored by Pier 1 Imports, Toys 'R Us, Kids 'R Us, Sportmart, Marshall's, Frank's and Cineplex Odeon. The 294,421 sq.ft. project has spaces of 2,000 sq.ft., 2,500 sq.ft. and 18,000 sq.ft. available for lease. The site fronts West Fullerton Avenue and North Narragansett Avenue which generate a daily traffic count of 28,700 vehicles. Demographics include a five-mile population of 923,923 earning $40,249 as the average income. The project is located near the Brickyard Mall.

For more information, contact David D. Darling of Malan Realty Investors, Inc. at (810-644-7110), Fax (644-7880).

New York

Clay- Clay Commons is anchored by Video King and LaValle Karate. The 30,000 sq.ft. project has spaces of 1,400 sq.ft. and 7,000 sq.ft. as well as outparcels available for lease. The site fronts Soule Road which generates a daily traffic count of 22,000 vehicles. Demographics include a five-mile population of 87,875 earning $51,026 as the average income. The project is located adjacent to Shops at Seneca Plaza which is anchored by Kmart and Price Chopper.

For more information, contact Larry Socia of Pyramid Brokerage Company at (315-445-8501), Fax (445-2074).

Troy- Brunswick Plaza Shopping Center is anchored by Grand Union. The 83,900 sq.ft. project has space available for lease. Demographics include a five-mile population of 119,000 earning $40,000 as the average household income.

For more information, contact David Rosen of Rosen Associates Management Corporation at (516-822-5350), Fax (433-3821).

Pennsylvania

Leechburg- Allegheny Plaza Shopping Center is anchored by Shop 'N Bag and Big Lots. The 92,000 sq.ft. project has 7,000 sq.ft. available for lease. A 45-acre expansion area is also available. Demographics include a five-mile population of 35,000 earning $32,000 as the average household income.

For more information, contact David Rosen of Rosen Associates Management Corporation at (516-822-5350), Fax (433-3821).

Tennessee

Memphis- Mendenhall Square is anchored by Barney's, K&B Drugs and Flemings Furniture. The project has a 21,326 sq.ft. Baby Superstore available for sublease beginning in September. Demographics include a five-mile population of 200,000 earning $46,000 as the average income.

For more information, contact Amy Kennedy or Steve Sachs of Alterman Associates, Inc. at (770-984-1323), Fax (984-1007).

Virginia

Norfolk- Janaf Shopping Center is anchored by Montgomery Ward, T.J. Maxx, J.C. Penney's Portfolio, General Cinemas, Sports Authority, OfficeMax, Circuit City, Marshall's, PetsMart, Discovery Zone, Old Navy Clothing Co. and Home Quarters Warehouse. The 884,466 sq.ft. project has an anchor space up to 45,000 sq.ft., retail spaces from 2,500 sq.ft. to 12,000 sq.ft. and two outparcels available for lease. In Richmond- Brookhollow Shopping Center is anchored by Target Greatlands. The 600,000 sq.ft. project, which is under construction and expected to open during March 1997, has anchor space from 25,000 sq.ft. to 175,000 sq.ft. available for lease.

For details, contact Tred Spratley of Sigma National, Inc. at (804-320-6100), Fax (320-6660).

Mergers & Acquisitions

The Italian Oven, Inc. (412-537-5380) recently entered into a letter of intent to transfer one franchised The Italian Oven Restaurant to corporate ownership as well as the development rights to two others in the Pittsburgh, PA market.

Roadrunner Video Group (502-957-3915) recently acquired the 12-unit chain Take Two Video of Oxford, MS. The all-stock deal was valued at $2 million. Roadrunner plans to rename the stores.

Shop 'n Save, a division of SuperValu (612-828-4030) recently agreed to purchase six Price Chopper Supermarkets in MO from Roswil, Inc. The stores are located in Arnold, Ellisville, Ferguson, Woodson Terrace, Florissant and north St. Louis County, MO. The purchase gives Shop 'n Save 32 units.

Schnuck Markets, Inc. (314-994-4444) plans to sell its 20,500 sq.ft. supermarket in Ladue, MO to Wild Oats Markets, Inc. (303-689-9258). Wild Oats Markets plans to remodel the unit and reopen it during the summer. Schnuck Markets also plans to sell 23 supermarkets to Family Co. of America. Schnucks is selling the 24 units as a result of a Federal Trade Commission order resulting when Schnucks bought National Supermarkets last year.

Clark USA, Inc. (314-854-9631) recently acquired 10 convenience store/service stations from Bell Fuels, Inc. The units are located in Bensenville, Evanston, Lombard, Bloomingdale, Naperville, Hanover Park, Lily Lake, Romeoville (2), Mundelein and Arlington Heights, IL.

Kmart Corporation (810-643-1000) recently entered into a definitive agreement with Tesco PLC, one of the United Kingdom's largest retailers, for the purchase of Kmart's businesses in the Czech Republic and Slovak Republic. Under the terms of the agreement, Tesco will purchase six Kmart stores in the Czech Republic and seven in the Slovak Republic for $117.5 million (U.S.). The deal is expected to be completed next month.

Store Closings

The Goody Guys! (415-615-5000) recently closed its 13,745 sq.ft. store in Berkeley, CA. The unit was closed because of its limited size and proximity to two other Good Guys store locations.

McCrory Stores (717-757-8181) plans to close its store at Edgewater Mall in Biloxi, MS by the end of next month. The closing is part of the company's reorganization plan.

Caldor Corp. (203-846-1641) plans to close eight underperforming stores in the Rochester-Syracuse, NY markets, two stores in MA, one store in CT and one store on Long Island, NY as part of its restructuring plan. The company also will not be going forward with its plan to open a new store in New Bedford, MA.

Quik Print, Inc. (316-636-5666) plans to close 26 of its 210 units nationwide, including five in Wichita, KS, by the end of this month.

TJX Companies (508-390-3000) plans to close 200 underperforming T.J. Maxx and Marshall's units during the coming two years. The plan calls for one chain to exit markets where the other dominates.