Issue 15 for the week of April 26, 1996

The Dealmakers Issue Number 15 for the week of April 26, 1996.

Card & Gift Tenants Seeking Space

Gags & Games, Inc. trades as Gags & Gifts at 12 locations in MI. The stores, selling cards, gifts and balloons, occupy spaces of 4,500 sq.ft. in power and strip centers. Plans call for six openings in the coming 18 months. Expansion will take place in MI and OH. Preferred demographics include a population of 30,000 to 50,000 within three miles. Leases running five years, with options, are typical. The company also operates two Halloween USA stores in MI and is looking to open 36 temporary units, using spaces of 5,000 sq.ft. to 15,000 sq.ft., in MI and OH.

For more information, contact, Christopher Bearss, Gags & Games, Inc., 37050 Industrial Boulevard, Livonia, MI 48150; 313-591-1717, Fax 591-3822.

The Half Off Card Shop, Inc. trades as 1/2 Off Card Shop at 36 locations in MI and OH. The stores, selling cards, gifts, party supplies and stationary, occupy spaces of 10,000 sq.ft. to 17,000 sq.ft. in regional malls, power, specialty and strip centers. Plans call for 36 openings in the coming 18 months. Expansion will take place in IL, IN, KS, KY and PA.

For more information, contact William Zucker, The Half Off Card Shop, Inc., 27600 Northwestern Highway 250, Southfield, MI 48034; 810-358-9300, Fax 358-9308.

The Kotliar Corp. trades as Kotliar's Cards & Gift Shops at 22 locations in MA, NJ and NY. The stores, selling cards and gifts, occupy spaces of 3,200 sq.ft. to 3,500 sq.ft. in regional malls. Plans call for as many as 15 openings in the coming 18 months. Expansion will take place in CT, FL, NY, PA and RI.

For more information, contact Al Kotliar, The Kotliar Corp., 303 Smith Haven Mall, Lake Grove, NY 11755-2103; 516-724-1500, Fax 724-1629.

Spain's, Inc. trades as Spain's and Dollar Express at 82 locations in DE, NJ and PA. The card and gift stores occupy spaces of 3,000 sq.ft. to 11,000 sq.ft. in freestanding facilities, power and strip centers. Plans call for seven openings in the coming 18 months. Expansion will take place in the existing markets.

For more information, contact Howard Savage, Spain's, Inc., 1700 Tomlinson Road, Philadelphia, PA 19116; 215-969-7888, Fax 676-1166.

Recycled Paper Greetings does business as Rocs Card & Gift Stores at 1,300 locations throughout North America and in Bermuda. The card and gift stores occupy spaces of 1,200 sq.ft. to 2,000 sq.ft. in downtown store fronts, regional malls, specialty and strip centers. Plans call for 150 openings in the coming 18 months. Expansion will take place throughout North America.

For more information, contact Mort Bacon, Recycled Paper Greeting, 3636 North Broadway, Chicago, IL 60613; 410-956-6730, Fax 956-6739.

Hall of Cards & Books, Inc. trades as Majerek's Hallmark and Readers World at 29 locations in MI and IN. The stores, which sell cards, books, gifts and collectibles, occupy spaces of 3,000 sq.ft. to 7,500 sq.ft. in downtown store fronts, freestanding facilities, regional malls, power and strip centers. Growth opportunities are sought in the existing markets.

For more information, contact Mike Majerek, Hall of Cards & Books, Inc., 313 East Main Street, Niles, MI 49120; 616-684-5115, Fax 684-8428.

Lease Signings

K. Hovnanian Investment Properties, Inc. (908-741-7810) leased 9,515 sq.ft. to Kiddie Academy Child Care Learning Center and 2,474 sq.ft. to Brunswick Computer Corporation at Commerce Center in North Brunswick, NJ.

Boyd, Page & Associates (713-877-8400) leased 50,000 sq.ft. to Hobby Lobby at Mission Hills Shopping Center in Houston, TX.

Kraus-Anderson Realty Company (612-881-8166) leased 1,800 sq.ft. to Sign-A-Rama at Clover Shopping Center in Bloomington, MN.

First Union Management, Inc. (216-781-4030) leased 10,500 sq.ft. to Rex TV and Appliance at Crossroads Mall in Fort Dodge, IA; space to Taco Bell at Valley North Mall in Wenatchee, WA; a total of 25,000 sq.ft. to Jacobs Trading Company at Kandi Mall in Willmar, MN and Crossroads Mall in Fort Dodge, IA; and 97,000 sq.ft. to Target at an undisclosed location.

Divaris Real Estate, Inc. (804-497-2113) leased 30,000 sq.ft. to Office Depot at Riverdale Plaza Shopping Center in Hampton, VA; 30,000 sq.ft. to Office Depot at Military Crossing Shopping Center in Norfolk, VA; 1,875 sq.ft. to Blairco for a laundromat and drycleaners at Westgate Square Shopping Center in Dinwiddie, VA and 1,400 sq.ft. to K-Beauty Supply at East Towne Plaza Shopping Center in Richmond, VA.

Charter Realty and Development Corp. (203-629-3939) leased 19,000 sq.ft. to Ben Franklin Superstore, 1,350 sq.ft. to Manhattan Bagel, 1,350 sq.ft. to Blimpie, 1,500 sq.ft. to 20/20 Optical, 1,350 sq.ft. to Shirley Cleaners, 1,350 sq.ft. to J&R Mall Research, 2,250 sq.ft. to Corace Liquors and 3,500 sq.ft. to Shirley Hallmark at Shirley Mall in Shirley, NY; 5,000 sq.ft. to Alpha Graphics at Stewart Plaza in Garden City, NY; 54,000 sq.ft. to Hannaford Bros. Food & Drug at Eastland Mall in Charlotte, NC; 2,800 sq.ft. to Chick-Fil-A in Charlotte, NC; 54,000 sq.ft. to Hannaford Bros. Food & Drug, 12,000 sq.ft. to Eckerd and 4,875 sq.ft. to Thursday's Too Restaurant at Village Square Shopping Center in Rock Hill, SC; 12,000 sq.ft. to Rag Shop Fabric & Crafts in West Orange, NJ; 5,000 sq.ft. to Rainbow Rentals in New Bedford, MA; 28,164 sq.ft. to Big Lots at North Gate Plaza in North Greece, NY; and 30,000 sq.ft. to Big Lots in Gates, NY.

Financial News...

Food Lion, Inc. (704-633-8250) reported that its first quarter net sales were $2.024 billion, an 8.5% increase over $1.866 billion reported during the first quarter of last year. The company also reported net income of $40.852 million, an 8.5% increase over last year's results of $37.665 million. Comparable store sales increased 5.2%. During the first quarter, the company opened three stores and is planning to open 47 more during the remainder of the year. The company currently operates 1,084 units in 14 states.

Supervalu, Inc. (612-828-4030) announced the its fiscal 1996 sales were $16.5 billion, down from $16.6 billion during FY95. Net earnings were $166.4 million compared to $161.9 million last year. Sales in the company's retail food division were $4.4 billion, a four percent increase over FY95 sales. Comparable store sales increased 2.6%. The company, which operates 4,100 supermarkets in 48 states, is planning to open 29 corporate stores during FY97.

Musicland Stores Corp. (612-932-7700) announced that it plans to defer its initial public offering of stock for its Suncoast Motion Picture Company. In a statement, Reid Johnson, executive vice president and chief financial officer, said, "Given the recent strength of video sales, we believe the indications of market value currently being given us are less than the intrinsic value of Suncoast. With no immediate need to complete this offering, we did not feel it was prudent to proceed at this time."

Safeway, Inc. (510-891-3000) reported that its net income during the first quarter was $96.4 million, compared to $62 million during the first quarter of 1995. Sales during the first quarter increased 6.9% to $3.9 billion and comparable store sales increased 5.2%. During the first quarter, the company opened four stores and is planning to open as many as 35 for the year. The company currently operates 1,057 supermarkets throughout North America.

Office Depot, Inc. (407-265-4258) reported that its first quarter sales increased 21% to $1.632 billion, compared to $1.351 billion during the first quarter last year. Net earnings for the quarter were $33.483 million compared to $32.474 million last year. Comparable store sales increased 10%. During the quarter, the company opened six stores in CA, LA, MS and Ontario, Canada; one Images store in FL and one Furniture at Work store in CA. The company also opened its first Tech Center, located inside an Office Depot store, in TX and a unit in Mexico City, Mexico. At the end of its first quarter, the company operated a total of 510 stores and is looking to open as many as 75 more before the end of the year.

Uno Restaurant Corporation (617-323-9200) reported a second fiscal quarter net loss of $2.642 million compared to net income of $1.243 million during the second quarter last year. Second quarter revenue increased eight percent to $40.3 million from $37.2 million last year. Comparable restaurant sales fell 1.2% during the quarter. At the end of the quarter, the company operated and franchised 142 Pizzeria Uno restaurants, three Bay Street seafood restaurants and one Mexican restaurant.

Best Buy Co., Inc. (612-947-2000) reported that earnings for its fiscal year 1996 fell 17% to $48.019 million compared to $57.651 million during FY95. FY96 revenues increased 42% to $7.217 billion and comparable store sales were up six percent. During the year, the company opened 47 stores and plans to open as many as 25 stores during FY97. The company currently operates 251 stores in 29 states.

Delchamps, Inc. (334-433-0437) reported third quarter net earnings of $1.147 million compared to a net loss of $11.645 million during the third quarter last year. Last year's loss was attributed to pretax restructuring charges related primarily to closed stores that had not been subleased. Excluding the charge, the after tax loss was $2.645 million. Third quarter sales were up 9.64% to $280.225 million from $255.592 million last year. Comparable store sales increased 10.17%. The company currently operates 117 supermarkets and 10 liquor stores in AL, FL, LA and MS.

Buyers & Sellers of Commercial Properties

Cannon Financial, Inc. has the listing to sell two shopping centers in south GA. Both centers are anchored by Food Lion and Big "B" Drugs. The combined listing price is $5,610,500. Two undeveloped outparcels are included.

For more information, contact Dickson Cannon at (770-431-9151), Fax (431-9153).

Ben Carter Properties recently acquired Stone Mountain Square, a 336,703 sq.ft. project in Stone Mountain, GA; Crossroads Plaza, a 648,089 sq.ft. project in Cary, NC; Colonial Commons, a 429,110 sq.ft. project in Harrisburg, PA and Townfair, a 235,892 sq.ft. project in Louisville, KY.

For more information, contact Chuck Fancher or Steven Cadranel at (404-364-3222).

Property Resources brokered the sale of Tri-City Mall in Forest City, NC. The 240,000 sq.ft. project, which is anchored by Belk's, J.C. Penney, Lowes, Rose's and Sears, was sold by BH Strategic Co. I, L.P. to E&W Properties, Inc. for $2.4 million.

For more information, contact Brian Grabowski at (919-831-9090).

First Washington Realty Trust, Inc. recently acquired Clopper Mills Village Shopping Center in Germantown, MD. The 134,000 sq.ft. project is anchored by Shoppers Club supermarket, CVS Pharmacy and Hollywood Video. The company also recently acquired Centre Ridge Marketplace in Centreville, VA. The 106,000 sq.ft. project is anchored by Super Fresh supermarket, Sears Paint & Hardware and Hollywood Video. The combined purchase price was $31 million.

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

Rein & Grossoehme brokered the sale of Prairie Plaza in Mesa, AZ. The 21,015 sq.ft. project was sold to the Elena Krikorian Trust for $765,000.

For more information, contact Mark Rein at (602-954-7217).

CB Commercial Real Estate Group brokered the sale of County Line Square in Burr Ridge, IL. The 90,171 sq.ft. project is anchored by Cee Bee Foods. The seller was Metropolitan Life Insurance Company and the buyer was BRC Ltd.

For more information, contact George Good at (312-861-7819).

Boyd, Page & Associates has the listing to sell, lease and sublease seven vacant Kroger Co. stores in Houston, TX. Store sizes range from 27,000 sq.ft. to 47,000 sq.ft.

For more information, contact Culver Stedman at (713-877-8400), Fax (877-1019).

Sigma National, Inc. represented Dayton Hudson in its purchase of 9.21 acres of land in Norfolk, VA. The company plans to develop a 117,000 sq.ft. Target store as part of a 200,000 sq.ft. community shopping center.

For more information, contact Tred Spratley at (804-320-6100), Fax (320-6660).

Gallivan Real Estate Consultants has the listing to sell a 21,690 sq.ft. NNN facility in West Springfield, MA. The project is located across from Home Depot, Staples and Chili's. Approximately 1.2 million sq.ft. of retail space is located nearby. The asking price is $1.5 million.

For more information, contact Joseph Benoit at (413-566-8006), Fax (566-2227).

Moody Rambin Interests, Inc. represented Houston Texas Fund XXI, Inc. in its sale of 43,507 sq.ft. of land in Houston, TX. The buyer was Network Medical Systems who plans to construct a 16,000 sq.ft. retail building on the site.

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

World Realty, Inc. has the listing to sell a 139,100 sq.ft. former Sears store and automotive facility in Lakeland, FL. The site is located on a main highway which generates a daily traffic count of 41,000 vehicles. The asking price is $2.632 million. The building can also be leased at $3.50 per sq.ft.

For more information, contact George Featherstone at (305-386-6444), Fax (868-3623).

Jack Tarr Development Company has the listing to sell a 36,425 sq.ft. shopping center in the master-planned community of Summerlin, NV. The project is 100% leased and has a credit anchor. The company also has the listing to sell 2.7 acres of land in Las Vegas, NV. The site, which is zoned for a shopping center, fronts Lambs Boulevard near Charleston Boulevard, who's intersection generates a daily traffic count in excess of 80,000 vehicles. The site is adjacent to Home Depot and Albertson's. The asking price is $8 per sq.ft.

For more information, contact Sandy Ray at (702-362-3131), Fax (362-8384).

Continental Realty Corp. is in the market to acquire shopping centers and retail properties in MD, Northern VA, Southeastern PA and DE.

For more information, contact David Strouse at (410-296-4800).

Ross Realty Group, Inc. has the listing to sell a NNN-leased building in Jacksonville, FL. The 5,000 sq.ft. site is leased to Taylor Rental with 11.5 years remaining on the lease term. The asking price is $700,000.

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

Mergers & Acquisitions

Claire's Stores, Inc. (954-433-3900) purchased the assets of the 31-unit chain Accessory Place, Inc. Claire's plans to refurbish and rename the stores Claire's. Following the acquisition, the company operates more than 1,500 units worldwide.

National Restaurant Group, Inc. (407-451-1199) announced that has a definitive agreement to acquire six Brothers of Brooklyn bagel/deli restaurants in South Florida. The deal is expected to be completed during June.

Boston Chicken, Inc. (303-278-9500) announced that it has reached an agreement with Mid-Atlantic Restaurant Systems, L.P. to acquire their interest in the Mid-Atlantic area. Mid-Atlantic operates 78 restaurants in DE, MD, NJ and PA with plans to be operating 100 by the end of the year. The transaction, which is expected to close next month, will result in Boston Chicken holding a majority equity interest in Mid-Atlantic with Mid-Atlantic retaining an equity interest. Boston Chicken currently owns and franchises 881 restaurants in 37 states.

CPI Corp. (314-231-1575) plans to sell 50 of its 611 photofinishing stores to Wolf Camera, Inc. The stores are located in Orlando, FL; Atlanta, Macon and Columbus, GA; Chicago, IL and Chattanooga and Nashville, TN. The deal is expected to close during June.

Store Closings

Camelot Music (216-494-2282) recently closed 18 stores and is planning to close as many as 30 more unprofitable units.

Rex Stores, Inc. (404-623-0811) plans to close its two stores in Charlotte, NC, citing poor sales.

Tandy Corp. (817-390-3011) plans to close an undisclosed number of underperforming stores in its Computer City and Incredible Universe divisions.

Grossman's (617-848-0100) plans to close its remaining 60 Grossman's home improvement stores so that it can concentrate on expanding its other businesses, Mr. 2nd's Bargain Outlet and Contractors' Warehouse. The company also plans to sell the former Grossman's locations.

B.U.M. International, Inc. (847-490-6515) plans to close its 41 outlet stores as part of its Chapter 11 reorganization plan. The company will concentrate its business as a licensing and marketing company.

New Construction

The Cincinnati Development Group recently broke ground on Fountain Place in Cincinnati, OH. The 165,000 sq.ft. project will be anchored by a three-story Lazarus Department Store with 45,000 sq.ft. of specialty retail stores. The project is expected to be completed during Fall 1997.

For more information, contact Karen Finan of Cincinnati Development Group at (513-792-4453).

Ben Carter Properties plans to develop Johnson City Crossing in Johnson City, TN. The 380,000 sq.ft. project will be anchored by Home Depot, Service Merchandise, Michael's, PetsMart, Reading China and Stein Mart. A Spring 1997 opening is planned. The company is planning to develop Country Club Commons in Miami Lakes, FL. The 300,000 sq.ft. project is expected to open during Spring 1997. The company also plans to develop Mall of Georgia. The project is expected to encompass more than two million sq.ft. and the projected opening is Spring 1999.

For more information, contact Ben Carter Properties at (404-364-3222).

Prime Retail recently broke ground on phase I of Buckeye Factory Shops in Harrisville Township, OH. The 205,000 sq.ft. project will feature 60 factory-direct outlet stores. Other features include a children's playground and an enclose food court with seating for 400. The company is planning to construct two additional phases, (each totaling between 80,000 sq.ft. and 100,000 sq.ft.) which will bring the project's total GLA to 390,000 sq.ft. when completed. Phase I is expected to be completed during the Fall.

For more information, contact Prime Retail at (800-628-9467).

Belz Enterprises' Factory Outlet Mall division recently broke ground on phase I of Belz Factory Outlet World in San Juan, Puerto Rico. The 350,000 sq.ft. project will include multi-faceted retail and entertainment tenants and is located on Highway 3. The site has a trade area population of 1.75 million and a tourist market of over four million. The company is also developing a Belz Factory Outlet World at St. Augustine Centre in St. Augustine, FL. The 310,000 sq.ft. project will be an enclosed, upscale outlet mall. Subsequent planned phases of the project will bring the total GLA to more than 750,000 sq.ft. The site is located just south of the new PGA Hall of Fame. The company recently broke ground on a 275,000 sq.ft. expansion at its Belz Factory Outlet World-Las Vegas, NV. The expansion will add 65 stores to the 70 already located at the site. Retailers who have signed leases for the new space include Spiegel, Reebok, Etienne Aigner, American Eagle Outfitters, Royal Daulton, Fossil, Lenox, Starter, Waterford/Wedgwood, HE-RO, Cruen and Dansk. When completed, the project will total 530,000 sq.ft. The company also recently opened the mall concourse of 100 Oaks in Nashville, TN. New stores at the project include Florsheim, Hit or Miss, Rack Room Shoes, Totally 4 Kids, Reebok, Petite Sophisticate, Casual Corner, Welcome Home, Furniture To Go, Bon Worth and The Paper Factory. Additional stores are expected to open through the Fall.

For more information, contact Belz Enterprises at (901-523-2000).

Lennar Corporation recently began demolition work to create The Streets of Mayfair in Coconut Grove, FL. The project will transform the Mayfair Shoppes into a 240,000 sq.ft. retail/entertainment complex that will also include hotels and parking garages. The reconstruction will provide the retail tenants with frontage on four streets that surround the project. Tenants already on-site include Planet Hollywood, Cobb Theaters, Borders Books and Music, The Limited, Structure, Bath & Body Shop, Ann Taylor, Polo/Ralph Lauren and Mezzanote Restaurant. Plans call for the addition of four restaurants, as many as three nightclubs and six retailers. The project is expecting to host its grand re-opening in time for the holiday shopping season this year.

For more information, contact Retail Estate, the exclusive leasing agent of the project, at (305-441-2911).

Lead Sheet

Knot Shop Limited Partnership

dba Knot Shop

Marshall Felenstein

47 East 77th Street/ Suite 205

New York, NY 10021

212-772-9829, Fax 535-9108

Accessories

The 29-unit chain operates locations in CA, CT, DE, GA, IL, MA, MO, OH, NV, NJ, MD, PA, NY, OR, VA and WA. The stores, selling men's ties as well as designer and private label accessories, occupy spaces of 400 sq.ft. to 800 sq.ft. in downtown store fronts and regional malls. Plans call for as many as six openings in the coming 18 months. Expansion will take place in the existing markets.

Fine's Men's Shops, Inc.

dba Fine's

Mitchell Fine

1164 Azalea Garden Road

Norfolk, VA 23502

804-857-6013, Fax 857-4603

Apparel

The 48-unit chain operates locations in AL, GA, MD, NC, SC, VA and WV. The men's apparel stores occupy spaces of 3,000 sq.ft. at regional malls having GLAs between 300,000 sq.ft. and one million sq.ft. Plans call for five openings in the coming 18 months. Expansion will take place within the existing markets.

Fast Frame, Inc.

dba Fast Frame

Brian Harper

1200 Lawrence Drive/ Suite 300

Newbury Park, CA 91320

805-498-4463, Fax 498-8983

Arts & Crafts

The 148-unit chain operates locations in AZ, CA, NY, IL, MN, GA, FL, CO, WA, VA, NC, SC, MA, KS, UT and NE. The stores, offering art work and home decor accessories as well as custom framing services, occupy spaces of 1,500 sq.ft. in power centers. Growth opportunities are sought nationwide.

Consumer Auto Parts, Inc.

dba Consumer Auto Parts

Merrill Cohan

222 Summer Street

Worcester, MA 01604

508-798-1827, Fax 799-5734

Automotive

The 11-unit chain operates locations in MA. The stores, selling automotive parts at discount price-points, occupy spaces of 4,500 sq.ft. to 5,000 sq.ft. in freestanding facilities and strip centers. Plans call for as many as three openings in the coming 18 months. Expansion will take place in MA.

Book Emporium, Inc.

dba Seidler's Hallmark, Book Emporium

Nancy Seidler

1301 S.W. Washington Street

Peoria, IL 61602

309-673-2327, Fax 673-8883

Books

The 16-unit chain operates locations in IA and IL. The stores, selling books, magazines, gifts, candy and Hallmark cards, occupy spaces of 4,000 sq.ft. to 6,000 sq.ft. in strip centers. Growth opportunities are sought in IL.

Jaco Oil Co.

dba Fastrip Food Stores

Fred Faulkner

PO Box 1807

Bakersfield, CA 93303

805-393-7000, Fax 393-8738

Convenience Store

The 45-unit chain operates locations in AZ and CA. The convenience stores occupy spaces of 3,500 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.

Soap Berry Shop

Natasha Rajewski

50 Galaxy Boulevard/ Unit 12

Rexdale, Ontario, Canada M9W 4Y5

800-387-4818, Fax 416-674-0249

Cosmetics

The 43-unit chain operates locations throughout Canada. The stores, selling "environmentally-friendly" cosmetics, occupy spaces of 800 sq.ft. in regional malls. Plans call for 10 openings in the coming 18 months. Expansion will take place along the eastern and western coasts of Canada.

Peebles, Inc.

dba Peebles Department Store

David Bordsen

One Peebles Street

South Hill, VA 23970

804-447-5200, Fax 447-5474

Department Store

The 65-unit chain operates locations in DE, KY, MD, NC, SC, TN, VA, NJ, PA and NY. The department stores occupy spaces of 15,000 sq.ft. to 65,000 sq.ft. in regional malls, power and strip centers. Plans call for 12 openings in the coming 18 months. Expansion will take place in the existing markets as well as in AL and OH.

Valco Drug Stores

Penn Keller

828 Main Street

Martinez, CA 94553

510-228-3220, Fax 228-0140

Drug Store

The four-unit chain operates locations in CA. The drug stores, which also sell health and beauty aids, foods and greeting cards, occupy spaces of 7,500 sq.ft. in downtown store fronts and strip centers. Growth opportunities are sought in the existing market.

Rita's Water Ice Franchise Corp.

dba Rita's Water Ice And Italian Ice

Jim Neilland

1525 Ford Road

Bensalem, PA 19020

215-633-9899, Fax 633-9922

Food

The 70+-unit chain operates locations in DE, MD, NJ, OH, PA and VA. The stores, selling water ice, occupy spaces of 600 sq.ft. to 1,500 sq.ft. in freestanding facilities and end-caps of strip centers. Plans call for 60 openings during 1996 and 60 openings during 1997. Expansion will take place in the existing markets. The company is franchising.

Regis Corporation

dba Master Cuts

Christopher Fox

7201 Metro Boulevard

Minnneapolis, MN 55439

612-947-7777, Fax 947-7900

Hair Salon

The 315-unit chain operates locations nationwide. The hair salons, catering primarily to men and children, occupy spaces of 1,000 sq.ft. in regional malls. Plans call for 45 openings in the coming 18 months. Expansion will take place nationwide.

Bill & Walt's Hobby Shops

David Thomas

1509 Lincoln Way

White Oak, PA 15131

412-678-7230

Hobby

The two-unit chain operates locations in PA. The stores, selling hobby items, crafts and collectibles, occupy spaces of 1,600 sq.ft. to 1,800 sq.ft. in strip centers. Growth opportunities are sought in western PA.

Lamps Plus, Inc.

dba Lamps Plus

Jerry Bass

20250 Plummer Street

Chatsworth, CA 91311

818-886-5267, Fax 886-1011

Housewares

The 37-unit chain operates locations in AZ, CA, CO, NV and WA. The stores, selling lighting, ceiling fans and accessories, occupy spaces of 11,000 sq.ft. to 12,000 sq.ft. in freestanding facilities and power centers. Plans call for two openings in the coming 18 months. Expansion will take place within the existing markets.

Friedman & Company

dba Friedman's Jewelers

Hunter Stansbury

4 West State Street

Savannah, GA 31401

912-233-9333, Fax 234-1031

Jewelry

The 255-unit chain operates locations in AL, FL, GA, IN, KY, MS, NC, OH, SC, TN, TX and VA. The jewelry stores occupy spaces of 1,800 sq.ft. in regional malls and strip centers. Plans call for as many as 100 openings in the coming 18 months. Expansion will take place in the existing markets.

Wax Works, Inc.

dba Disc Jockey Records, Real Collection

Terry Woodward

325 East Third Street

Owensboro, KY 42303

502-926-0008, Fax 685-0563

Music

The 190-unit chain operates locations nationwide. The stores, selling records, tapes, compact discs, videos and related items, occupy spaces of 2,000 sq.ft. in regional malls and spaces from 7,000 sq.ft. to 10,000 sq.ft. in end-cap spaces of power centers. Growth opportunities are sought nationwide.

Superpetz

Jason Liff

c/o Primus Properties, Inc.

131 North Ludlow/ Suite 250

Dayton, OH 45402

513-222-9900, Fax 222-9500

Pet Store

The 37-unit chain operates locations in GA, IN, KY, MD, MI, NC, OH, PA, SC and TN. The pet stores occupy spaces of 23,000 sq.ft. to 26,000 sq.ft. in freestanding facilities and strip centers. Plans call for 50 openings in the coming 18 months. Expansion will take place in AL, FL, GA, KY, MD, NC, OH, PA, SC, TN and WV. The company is seeking sites in non-competitive areas.

The Nature Company

Larry Hanshaw

c/o Metropolis

6657 Chelton Drive

Oakland, CA 94611

510-482-8187, Fax 482-8188

Specialty

The 125-unit chain operates locations nationwide. The stores, selling nature-oriented gifts and collectibles, occupy spaces of 2,500 sq.ft. to 3,500 sq.ft. in regional malls. Plans call for five openings in the coming 18 months. Expansion will take place nationwide. The company prefers to locate its sites in tourist locations.

Spencer Gifts, Inc.

dba Spencer Gifts

Susan Waldman

6826 Black Horse Pike

Egg Harbor Township, NJ 08234

609-645-5303, Fax 645-5448

Specialty

The 500-unit chain operates locations nationwide. The stores, selling novelties, gifts and cards, occupy spaces of 1,500 sq.ft. to 1,700 sq.ft. in regional malls. Plans call for 60 openings in the coming 18 months. Expansion will take place nationwide, including Hawaii.

Samson Sales, Inc.

dba Sam's World of Golf & Tennis

Arnold Kohn

8754 Mentor Avenue

Mentor, OH 44060

216-974-6540, Fax 974-6547

Sporting Goods

The 16-unit chain operates locations in MD, OH and PA. The sporting goods stores occupy spaces of 4,500 sq.ft. to 5,500 sq.ft. in strip centers. Plans call for one opening in the coming 18 months. Expansion will take place in OH.

The Grand Union Co.

dba Grand Union

Raymond Ayers

201 Willowbrook Boulevard

Wayne, NJ 07470

201-890-6000, Fax 890-6568

Supermarket

The 231-unit chain operates locations in CT, MA, NH, NJ, NY, PA and VT. The supermarkets occupy spaces of 30,000 sq.ft. to 65,000 sq.ft. in downtown store fronts, freestanding facilities and strip centers. Plans call for six openings in the coming 18 months. Expansion will take place in the existing markets, exclusive of NH.

F.A.O. Schwarz

Don Martin

767 5th Avenue

New York, NY 10153

708-295-9496, Fax 888-9344

Toys

The 25-unit chain operates locations nationwide. The toy stores occupy spaces of 12,000 sq.ft. in regional malls. Plans call for six openings in the coming 18 months. Expansion will take place nationwide.

The Dollar Tree Stores, Inc.

dba Dollar Bills

Bob Gurnee

2555 Ellsmere Avenue

Norfolk, VA 23513

804-857-4600, Ext. 3104, Fax 857-5240

Variety

The 136-unit chain operates locations in AL, IL, IN, OH, WI, MD, PA, VA, IA, GA, TN, MI, MO and MN. The variety stores, selling merchandise at the fixed price-point of $1, occupy spaces of 4,000 sq.ft. in power and strip centers. Plans call for 100 openings in the coming 18 months. Expansion will take place in the existing markets.

The Video Connection

Bob Estridge

3123 West Sylvania Avenue

Toledo, OH 43613

419-472-7727, Fax 472-2655

Video

The 103-unit chain operates locations in MI, IN and OH. The video stores occupy spaces of 3,000 sq.ft. to 8,000 sq.ft. in freestanding facilities, power and strip centers. Growth opportunities are sought in the existing markets.

Who's Opening and Where...

Barnes & Noble, Inc. (212-633-3300) plans to open a 25,000 sq.ft. bookstore at Cranberry Square Shoppes in Cranberry, PA during the Fall; a 24,000 sq.ft. store in Chico, CA during the Summer; a 35,000 sq.ft. unit in Miami, FL during the Fall; a 26,000 sq.ft. store in Salt Lake City, UT during the Summer; and 25,000 sq.ft. unit in Cincinnati, OH during Winter 1997.

Kohl's Department Stores (414-783-1300) plans to open two department stores in Charlotte, NC and one in Lancaster, PA during the Summer and is looking to enter the Washington D.C. market during 1997.

Arby's, Inc. (954-351-5215) recently signed an agreement with franchisee Al-Nowair Foodstuff to develop six Arby's Roast Town Restaurants this year and nine next year in Cairo, Egypt.

Applebee's International, Inc. (913-967-4000), which recently opened its 700th restaurant, announced that it has signed a franchise agreement with Brunswick Corp. for the development of Applebee's restaurants in Germany. The first unit is expected to open in Dresden later this year. The company also announced that it plans to open Rio Bravo Cantina units in Augusta, GA and Kansas City, MO next month.

Manhattan Bagel Company (908-544-0155) recently signed a master franchise agreement with a newly formed CA company to open 35 units in Northern CA in the coming five years.

Federated Department Stores (513-579-7000) plans to replace its Broadway department store at Valley Plaza in Bakersfield, CA with a Macy's department store next month.

Jay Jacobs, Inc. (206-622-5400) recently opened a 5,000 sq.ft. store at Mounds Mall in Anderson, IN; a 4,000 sq.ft. store at Markland Mall in Kokomo, IN; a 5,600 sq.ft. store at Muncie Mall in Muncie, IN; a 4,200 sq.ft. store at Greenwood Mall in Greenwood, IN and a 6,500 sq.ft. store at Speedway Center in Indianapolis, IN. The company operates 136 young men's and women's apparel stores in 21 states.

Staples, Inc. (508-370-8967) plans to build a 24,000 sq.ft. store at Delta Oaks Shopping Center in Eugene, OR. The store is expected to open during October. The company is also planning to open a store at Jantzen Beach Shopping Center in Portland, OR next month.

Publix Super Markets (813-688-1188) plans to build a 37,000 sq.ft. store at Cross County Plaza in Columbus, GA. The unit is expected to open during 1997.

Office Depot (407-265-4258) plans to open 30,000 sq.ft. stores at Riverdale Plaza Shopping Center in Hampton, VA and Military Crossing in Norfolk, VA during the summer.

The May Department Store Co. (314-342-6300) has acquired former Steinbach stores at Woodbridge Center in Woodbridge, NJ and Willowbrook Mall in Wayne, NJ. The company plans to remodel and expand the units to 120,000 sq.ft. each and open them as Lord & Taylor stores late this year and during Spring 1997, respectively.

Home Depot (404-433-8211) recently entered into escrow to purchase 19.5 acres of land in Laguna Hills, CA. The company is planning to develop a 130,400 sq.ft. store which is expected to open next year.

Perkins Family Restaurants (901-766-6400) plans to open an 8,400 sq.ft. restaurant at Highland Shopping Center in Highland Village, MN during July.

Byerly's (612-831-3601) recently opened a 70,000 sq.ft. supermarket in Highland Park, IL and is planning to open a unit in Schaumburg, IL next month. It will be the company's first units in the state. The company operates 13 upscale supermarkets in MN.

Brinker International (214-770-9571) plans to convert its Grady's American Grill restaurant in Oklahoma City, OK into an On The Border Mexican restaurant by June. The company is also planning to construct an On The Border unit in Norman, OK. An October opening is planned.

Pudgie's Chicken, Inc. (516-222-8833) recently signed a franchise agreement with the Oneida Tribe of Indians for the opening of a maximum of 65 restaurants on tribal land in casinos, bingo parlors, smoke shops, convenience stores and shopping centers throughout the Midwest. The agreement also gives the Oneidas the option to purchase the franchise rights to the state of Minnesota.

Target Stores (612-370-6073) plans to open 96,000 sq.ft. stores at Eastern Hills in Williamsville, NY; Walden Galleria in Cheektowaga, NY; in North Buffalo, NY and in Niagara Falls, NY during October. The stores will be the company's first units in NY. The company also recently opened a 178,000 sq.ft. SuperTarget in Papillion, NE and is planning to open another SuperTarget in Mason City, IA this month. SuperTargets are also planned to be opened in Davenport, IA and Salt Lake City, UT during July. The company is planning to open as many as eight SuperTargets this year and as many as 12 next year.

Virgin Retail Group (310-724-5967) recently opened a 75,000 sq.ft. Virgin Megastore in Manhattan, NY this month. For the company, which operates six stores in the U.S., the store is its first outside of CA and its largest.

The Great Atlantic & Pacific Tea Co. (201-930-4236) is planning to open a 58,000 sq.ft. SuperFresh Supermarket at Summerwood Village Center in Washington, NJ during August.

Sears, Roebuck & Co. (708-286-2500) plans to open as many 15 HomeLife stores, 125 Dealer stores, 75 Sears Hardware stores and 20 mall stores this year.

J.C. Penney Co. (214-431-1000) plans to open as many as 100 stores this year, while closing as many as 60.

Quantum Restaurant Group (516-627-1515) plans to open an 11,000 sq.ft. Morton's of Chicago restaurant at Washington Square in Washington, D.C. during December.

Blockbuster Entertainment Group (954-832-3250) recently opened a Blockbuster Video store in Harlem, NY.

Borders, Inc. (313-913-1323) recently opened a Borders Books, Music & Cafe unit in Evanston, IL.

Ralphs Grocery Company (310-884-9000) recently opened a 54,000 sq.ft Food 4 Less store in Lemon Grove, CA.

Universal International, Inc. (612-533-1169) recently opened three Only Deals stores in Winona, MN; Little Canada, MN and Hastings, NE.

Timber Lodge Steakhouse, Inc. (612-929-9353) recently opened a 240-seat restaurant in Green Bay, WI.

Exclusives: Leasing & Management Assignments

First Washington Management, Inc. (301-907-7800) has been named the exclusive leasing and sales agent for Riggs Road Shopping Center, a 44,000 sq.ft. project in Washington, D.C. The company was named the exclusive leasing agent of Clinton Village Mart, a 40,000 sq.ft. project in Clinton, MD. The company was also appointed the exclusive leasing agent for Mount Vernon Center, a 50,000 sq.ft. project in Alexandria, VA.

Mid-America Real Estate Corp. (708-954-7300) has been retained by the McDade Family to market the redevelopment of a 93,338 sq.ft. project, formerly anchored by Phar-Mor and McDade Catalog Store, in Burbank, IL. The project will be anchored by a 66,313 sq.ft. Jewel/Osco store, a 16,000 sq.ft. Chernin's shoe store and a 10,000 sq.ft. Blockbuster Video store.

MJB Real Estate Services Corp. (203-222-6200) has been named the exclusive leasing agent for a 12,000 sq.ft. strip center in Stamford, CT. The project is tenanted by a dry cleaners, a deli, a bicycle store and offices. A 1,250 sq.ft. space is available. The company was named the exclusive leasing agent of Birchwood Corners, a 15,000 sq.ft. project in Westport, CT. The site is anchored by a shoe store and a bank. Spaces of 1,284 sq.ft. and 2,568 sq.ft. are available for lease. The company was named the exclusive leasing agent for a 20,000 sq.ft. project in Wilton, CT. The project has retail spaces of 800 sq.ft. and 900 sq.ft. available for lease. The company was also named the exclusive leasing agent for a 14,000 sq.ft. project in Orange, CT. The site is located adjacent to Edwards and T.J. Maxx and one block away from Home Depot. A 6,700 sq.ft. end cap space is available for lease.

CB Commercial Real Estate Group, Inc. of Los Angeles, CA (714-939-2220) has been named the exclusive representative in South Los Angeles and Orange counties, CA for the expansion of Applebee's International, Inc.'s Applebee's Neighborhood Grill & Bar restaurants. The company is looking to open four locations during 1996 and six locations during 1997. The company is seeking spaces running 5,000 sq.ft. to 5,500 sq.ft. in power centers anchored by Wal*Mart or Target. Neighborhood centers, regional malls and freestanding sites will also be considered. The company prefers a trade area population in excess of 75,000 earning more than $35,000 as the average household income. The company prefers to purchase its sites, but will consider ground lease and build-to-suit opportunities at a term of 15 years with four five-year options. CB Commercial has also been named the exclusive representative for Wild Oats Market, Inc. for its expansion in the Los Angeles, Orange, Riverside and San Bernardino counties of CA. The natural food supermarkets are seeking spaces running from 5,000 sq.ft. to 35,000 sq.ft. for both its supermarket format stores and urban format stores. The company is planning to open seven stores this year and as many as 10 during 1997.

Brenner Real Estate Group (305-978-9968) has been awarded the management contracts for the following projects: Delray Shopping Center in Delray Beach, FL; West Hollywood Shopping Center in Hollywood, FL; Hallandale Shopping Center in Hallandale, FL; Drexel Plaza in West Palm Beach, FL; Kimberly Shopping Center in North Lauderdale, FL; Tamarac Square West in Tamarac, FL; Mirimar Shopping Center in Mirimar, FL; Meadowbrook Shopping Center in Dania, FL; Tam O'Shanter Plaza in North Lauderdale, FL; and Coral Ridge Shopping Center in Oakland Park, FL.

Madison Marquette Realty Services (513-579-7800) has been named the management agent for Crossroads of San Antonio Mall in San Antonio, TX. The 704,000 sq.ft. 87% occupied project is anchored by Montgomery Ward, SteinMart and Burlington Coat Factory.