Issue 29 for the week of August 21, 1996
[ Up ] [ Issue 1 for the week of January 19, 1996 ] [ Issue  2 for the week of January 26, 1996 ] [ Issue 3 for the week of February 2, 1996 ] [ Issue 4 for the week of February 9, 1996 ] [ Issue 5 for the week of February 16, 1996 ] [ Issue 6 for the week of February 23, 1996 ] [ Issue  7 for the week of March 1, 1996 ] [ Issue 8 for the week of March 8, 1996 ] [ Issue  9 for the week of March 15, 1996 ] [ Issue  10 for the week of March 22, 1996 ] [ Issue 11 for the week of March 29, 1996 ] [ Issue  12 for the week of April 5, 1996 ] [ Issue 13 for the week of April 12, 1996 ] [ Issue 14 for the week of April 19, 1996 ] [ Issue 15 for the week of April 26, 1996 ] [ Issue  16 for the week of May 1, 1996 ] [ Issue  17 for the week of May 17, 1996 ] [ Issue 18 for the week of May 24, 1996 ] [ Issue  19 for the week of May 31, 1996 ] [ Issue  20 for the week of June 12, 1996 ] [ Issue 21 for the week of June 19, 1996 ] [ Issue.22 for the week of June 26, 1996 ] [ Issue  23 for the week of July 10, 1996 ] [ Issue  24 for the week of July 17, 1996 ] [ Issue  25 for the week of July 24, 1996 ] [ Issue  26 for the week of July 31, 1996 ] [ Issue 27 for the week of August 7, 1996 ] [ Issue 28 for the week of August 14, 1996 ] [ Issue 29 for the week of August 21, 1996 ] [ Issue 30 for the week of August 28, 1996 ] [ Issue 31 for the week of September 4, 1996 ] [ Issue 32 for the week of September 11, 1996 ] [ Issue  33 for the week of September 18, 1996 ] [ Issue 34 for the week of September 25, 1996 ] [ Issue 35 for the week of October 2, 1996 ] [ Issue 36 for the week of October 9, 1996 ] [ Issuer 37 for the week of October 23, 1996 ] [ Issue 38 for the wek of October 30, 1996 ] [ Issue 39 for the week of November 6, 1996 ] [ Issue 40 for the week of November 13, 1996 ] [ Issue 41 for the week of November 20, 1996 ] [ Issue 42 for the week of November 27, 1996 ] [ Issue 43 for the week of December 4, 1996 ] [ Issue 44 for the week of December 11, 1996 ] [ Issue 45 for the week of December 18, 1996 ] [ Issue 46 for the week of December 26, 1996 ] [ Issue 47 from the week of January 12, 1996 ]

 

The Dealmakers Issue Number 29 for the week of August 21, 1996.

 

Home Furnishing Tenants Seeking Sites Nationwide

 

Sit 'N' Sleep Centers, Inc. trades as Mattress King at 21 locations in NC and VA.  The home furnishings stores occupy spaces of 2,500 sq.ft. to 4,000 sq.ft. in freestanding facilities, outlet, power and strip centers.  Preferred anchors include T.J. Maxx and Wal*Mart.  Plans call for as many as four openings in the coming 18 months.  Expansion will take place in the existing markets.  Leases running five to 15 years are typical.

  For more information, contact Neil Gulati, Sit 'N' Sleep Centers, Inc., 6000-B West Broad Street #8, Richmond, VA 23230-2222; 804-282-3366, Fax 282-1341.

 

The Chair King, Inc. trades as The Chair King at six locations in TX.  The stores, selling pool and patio furniture, wicker and rattan furniture as well as dinettes and barstools, occupy spaces of 15,000 sq.ft. to 20,000 sq.ft. in freestanding facilities.  The company prefers to locate its stores near regional malls.  Growth opportunities are sought in the existing market.

  For more information, contact Marvin Barish, The Chair King, Inc., 4701 Blalock, Houston, TX 77041; 713-690-1919, Fax 939-8424.

 

Norwalk Furniture does business as Norwalk-The Furniture Idea at 60 locations throughout North America.  The home furnishings stores occupy spaces of 5,000 sq.ft. in freestanding facilities, specialty and strip centers.  Plans call for 25 openings in the coming 18 months.  Expansion will take place in the existing markets.

  For more information, contact Bob Young, Norwalk Furniture, 100 Furniture Parkway, Norwalk, OH 49857; 419-668-4461, Fax 663-0021.

 

Sears, Roebuck and Co. trades as Homelife Furniture Stores at 100 locations nationwide.  The furniture stores occupy spaces of 35,000 sq.ft. in a variety of real estate settings.  Plans call for 100 openings in the coming 18 months.  Expansion will take place nationwide.

  For more information, contact Mike Fishman, Sears, Roebuck and Co., 3333 Beverly Road B2-212A, Hoffman Estates, IL 60179; 847-286-6254, Fax 286-7976.

 

The Bombay Company operates 431 locations throughout North America.  The stores, selling home furnishings and accessories, occupy spaces of 1,500 sq.ft. to 4,000 sq.ft. in freestanding facilities and regional malls.  Growth opportunities are sought nationwide.

  For more information, contact Steve Dodds, The Bombay Company, 550 Bailey, Suite 700, Fort Worth, TX 76107; 817-870-1847, Fax 877-5073.

 

Cort Furniture Rental operates 104 locations nationwide.  The stores, which sell and rent furniture, occupy spaces of 3,500 sq.ft. to 4,500 sq.ft. in freestanding facilities and specialty centers.  Growth opportunities are sought nationwide.  Leases running five to 10 years are typical.

  For more information, contact Michael Connors, Cort Furniture Rental, 4401 Fair Lakes Court, Fairfax, VA 22033-3839; 703-968-8500, Fax 968-8501.

 

 

New Construction

 

General Growth Properties is developing Brass Mill Center in Waterbury, CT.  The 900,000 sq.ft. project will be anchored by a 165,000 sq.ft. Filene's, a 160,000 sq.ft. Sears, a 126,000 sq.ft. J.C. Penney and a 70,000 sq.ft. Lechmere.  A 12-screen, 70,000 sq.ft. movie theater as well as space for 150 specialty shops, restaurants and a food court will also be constructed.  A second project, the 200,000 sq.ft. Brass Mills Commons, will be constructed adjacent to the mall as well.  That project will be anchored by a mix of well-known nation and regional retailers and restaurants.  The project is expected to open during Fall 1997.

  For more information on Brass Mill Center, contact Dave Smith at (508-655-4335).  For more information, on Brass Mill Commons, contact Karen Spencer at (312-551-5435).

 

The Jaffe Companies and United Commercial Realty recently broke ground on Huebner Oaks Center in San Antonio, TX.  The 400,000 sq.ft. project will be anchored by a 24-screen AMC Grand Cinema, a 27,500 sq.ft. Borders Bookstore, a 35,000 sq.ft. Bed Bath and Beyond store, a 14,000 sq.ft. Old Navy Clothing store, a 28,500 sq.ft. Ross Dress for Less store and a 9,000 sq.ft. Pier 1 Imports store in the 160,000 sq.ft. phase I.  The stores are expected to open during March 1997 and the theater is expected to open during May 1997.

  For more information, contact Guyla Sineni of United Commercial Realty, leasing agents of the project, at (210-822-5000).

 

Horizon Group, Inc. recently opened Horizon Outlet Center-Laughlin in Laughlin, NV.  The project is tenanted by Alan Stuart, Ambiance, American Tourister, Big Dog Sportswear, California Luggage, Cecil's Market, Corning revere, Country Clutter, Dexter Shoe Factory, Dress Barn, Famous Brands Housewares, Famous Brand Shoes, Haley Sport, Leather Loft, Maidenform, Levi's Outlet by Most, Mikasa Factory Store, Music 4 Less, Pearl Farm, Perfumania, Publisher's Warehouse, Reebok, Rue 21, Sierra Shirts, Sunglass Hut, Ultra The Gold & Diamond Outlet and Van Heusen.  A six or eight screen movie theater is expected to open during early 1997 as is McDonald's, Dairy Queen, Cozzoli's Pizza and Subway.

  For more information, contact Horizon Group, Inc. at (616-798-9100).

 

Vestar Development Co. plans to break ground on a 400,000 sq.ft. community shopping center in Rancho San Diego, CA during February 1997.  The project will anchored by a 123,000 sq.ft. Target, a 70,000 sq.ft. Lucky's Supermarket and a 69,000 sq.ft., 18-screen Edward's Theatre.  Specialty shop space and eight freestanding pad sites will also be included in the project.  An October 1997 opening is planned.  The company recently opened phase II of Ahwatukee Foothills Towne Center in Phoenix, AZ.  Phase II is anchored by Smith's, Home Place, Stein Mart, Old Navy Clothing, Pier 1, Ultra 3 and Sweet Tomatoes Restaurant.  The existing 252,000 sq.ft. phase I is anchored by Target and Mervyn's.  Phase III will be anchored by a 24-screen AMC movie theater as well as by Barnes & Noble, Ross Dress for Less, Baby Superstore, Macaroni Grill, Mimi's Cafe, On the Border and Ruby Tuesday's.  When complete, the project's total GLA will be 1.1 million sq.ft.

  For more information, contact David Larcher of Vestar Development Co. at (602-866-0900).

 

 

Buyers & Sellers of Commercial Properties

 

First Capital Realty brokered the sale of the 160,482 sq.ft. Tackett's Mill at Lake Ridge Shopping Center in Woodbridge, VA.

  For more information, contact First Capital Realty at (301-907-3200).

 

David Cronheim Company has the listing to sell a 16,000 sq.ft. building triple net leased to Moss Furniture in Newark, NJ.  The tenant has four years remaining on the lease.

  For more information, contact Jeff Spann at (201-635-2180).

 

Borrus Associates, Inc. is actively marketing and seeking buyers/sellers of retail strip centers and commercial properties in the NJ market.  Investment deals carry cap rates in the 10% to 12% range.  Client buyers include REIT's, 1031 Exchangers and out of state investors.

  For more information, contact Marc Schwartz or Jules Borrus at (908-679-4100), Fax (679-2263).

 

The Mitchell Company brokered the sale of Thomasville Mart Shopping Center in Thomasville, AL.  The 100,000 sq.ft. project, which is anchored by Super Food, Carport, Fred's Dollar Store and Bargain Towne, was sold by MBL Life Assurance Corp. to an investor group from NY.

  For more information, contact Herman Neese at (334-470-1327).

 

Lambert Smith Hampton has the listing to sell a 10,126 sq.ft. Pep Boys Parts USA store in Los Angeles, CA.  The project is NNN leased for 15 years with two options running five years each.  The minimum annual rent is $150,000 with increases every five years.  The tenant is responsible for all taxes, insurance and maintenance with the landlord responsible for the roof and structure only.  The asking price is $1.795 million with financing of $1.146 million at 8.1% interest fully amortized over 15 years (total annual debt service is $132,216) available.  The company also has the listing to sell a 3,500 sq.ft. Wendy's Restaurant in Worcester, MA.  The project is NNN leased for 15 years with two options running five years each.  The minimum annual rent is $124,663 with provisions for increases.  The asking price is $1.246 million.

  For more information, contact Terry Marks at (310-273-2999, Ext. 232), Fax (550-4564).

 

Burnham Pacific Properties, Inc. and the California Urban Investment Partnership recently announced the closing of the purchase of Ladera Shopping Center in Los Angeles, CA.  The 184,684 sq.ft. project, which has a 93% occupancy rate, is anchored by Ralphs, Ross Dress for Less, Sav-On Drugs and Service Merchandise.  The purchase price was $20.125 million.

  For more information, contact Daniel Platt at (619-652-4700).

 

Aries Deitch & Endelson, Inc. brokered the sale of 780 White Plains Road in Eastchester, NY.  The project is leased to Mrs. Green's Natural Market.  The seller was Sutom Commercial and the buyer was an investment client of Aries Deitch & Endelson, Inc.  The purchase price was $1.05 million.  The project is located near Vernon Hills Shopping Center and Eastchester Mall.

  For more information, contact Manny Berger at (914-949-2800, Ext. 106).

 

 

Exclusives: Leasing & Managament Assignments

 

Divaris Real Estate, Inc. (804-497-2113) has been named the leasing and managing agent for Five Columbus Center, a 20,000 sq.ft. retail and office building in Virginia Beach, VA; Shore Drive Plaza, a 67,000 sq.ft. project in Norfolk, VA; Dunlap Village Shopping Center, a 72,275 sq.ft. project in Colonial Heights, VA; and Republic Plaza, a 28,911 sq.ft. project in Richmond, VA.

 

Welco Realty, Inc. (914-833-1340) has been named the exclusive agent for a former Bradlees Department Store site in Staten Island, NY.  The 157,000 sq.ft. project is available for lease as is or for build-to-suit up to 280,000 sq.ft.  The site is located near a proposed Home Depot.  The company was named the exclusive agent for Cardiff Circle Shopping Center in Pleasantville, NJ.  The 400,000 sq.ft. project is anchored by Bradlees, Pathmark Supermarket, Ross Dress for Less and Rickels.  Spaces from 4,000 sq.ft. to 12,000 sq.ft., as well as pad sites of 4,500 sq.ft. and 9,000 sq.ft., are available for lease.  The company was also named the exclusive agent for a new A&P Shopping Center in Bayonne, NJ.  The project has up to 35,000 sq.ft. available for lease.

 

Hicks & Rotner Retail, Inc. (410-823-4250) has been appointed the exclusive leasing agent for South Valley Shopping Center in Alexandria, VA.  The 300,000 sq.ft. project is anchored by Kmart, Franks Nursery, T.J. Maxx and Ross Dress for Less.  The company was named the leasing agent for City Plaza in Silver Spring, MD.  The 275,000 sq.ft. project is anchored by Nordstrom Rack, Marshall's, Ross Dress for Less and a 10-screen AMC Theater.  Burlington Coat Factory will open a store at the project next year.  The company was also named the leasing agent for Largo Town Center in Largo, MD.  The 260,500 sq.ft. project is anchored by Hechinger's, Marshall's and Shopper's Food Warehouse.

 

MJB Real Estate Services Corp. (203-222-6200) has been named the exclusive agent for 470 Monroe Turnpike in Monroe, CT.  The 65,000 sq.ft. project, which was anchored by a former Grand Union store, is tenanted by Brooks Pharmacy, North American Bank, Chinatown Kitchen and Angela's Grill.  Spaces from 25,000 sq.ft. to 34,000 sq.ft. are available for lease.

 

CB Commercial Real Estate Group of Ventura, CA (805-654-6206) is the exclusive leasing and marketing agent for Camarillo Town Center in Camarillo, CA.  The 360,000 sq.ft. project, which is under construction, is anchored by a 120,000 sq.ft. Target store which recently opened.  Tenants expecting a Fall opening include Ross Dress for Less, Staples, Petco, Applebee's, Wendy's, Del Taco and Coco's.  A 55,000 sq.ft. Oshman's Super Sports store is expected to open during Spring 1997.  In-line and anchor spaces from 1,500 sq.ft. to 50,000 sq.ft., as well as several pad sites, are available for lease or sale.

 

CB Commercial Real Estate Group of San Diego, CA (619-546-4621) has been named the exclusive leasing and marketing agent for Encinitas Ranch Town Center in Encinitas, CA.  The 520,000 sq.ft. project, which is under construction, will be anchored by Target, Linens 'N Things, Office Depot, Barnes & Noble, PetsMart, Pier 1, Ross Dress for Less, Albertson's, CompUSA, Old Navy Clothing Company, Sports Authority, Men's Wearhouse, Party City, Famous Footwear, Blockbuster Video, McDonald's, Chili's, Cilantro's Restaurant and El Pollo Loco.  Spaces from 1,000 sq.ft. to 14,650 sq.ft. are available for lease.  The project is expected to open during the fourth quarter of this year.  A 125,000 sq.ft. expansion, anchored by major off-price promotional retailers, is planned for construction during 1998 with store openings projected for the fourth quarter of 1999.

 

 

Mergers & Acquisitions

 

Health Outcomes Management, Inc. (612-378-3053) recently acquired Edina Pharmacy in Minneapolis, MN.  The company plans to develop the community pharmacy into a prototype store utilizing patient care concepts jointly developed by the company and the Peters Institute of Pharmaceutical Care at the University of Minnesota.  If the prototype proves successful, the company will open more units.

 

Blockbuster Entertainment Group (305-832-3000) recently acquired Video Factory which operates 34 stores in NY and PA in an all cash deal.  Blockbuster plans to convert 30 of the stores to Blockbuster Video stores, but plans to continue to operate Video Factory's Hitz! store under its present name.  Hitz! is a concept that only rents new release videos.  Blockbuster plans to evaluate Video Factory's three Zappers videogame stores before decided whether or not to continue operating them.

 

Ross Stores, Inc. (510-505-4764) announced that it recently entered into an agreement with the TJX Companies to acquire the leasehold rights to all six of its stores in HI.  The transaction will give Ross seven units in HI and make it the only off-price family apparel retailer in the state.  Four of the stores are on the island of Oahu with one each on the island's of Maui, Kona and Hawaii.  Five stores are former Marshall's locations which will be converted to Ross stores and re-open during November.  The sixth store is a T.J. Maxx store at Stadium Market Place in Honolulu, HI which will be closed.

 

L. Luria & Son (305-557-9000) recently agreed to sell control of its company to Ocean Reef Management, Inc. for $8 million.  Ocean Reef also has an option to buy all of the Luria family's 1.32 million shares of common stock which, if exercised, would give Ocean Reef 25% of the common stock.  L. Luria & Son operates a chain of catalog showrooms in FL.

 

Bruegger's Bagel Bakery (802-862-4700) recently acquired two retail locations from Spot Bagel Bakery in Seattle, WA.  Bruegger's plans to convert the store at Wallingford Center into a Bruegger's Bagel Bakery unit.

 

 

Who's Opening and Where...

 

Best Buy (612-947-2000) plans to open a 45,000 sq.ft. store at Regency Square Shopping Center in Brandon, FL; a 52,000 sq.ft. store at a former Kash 'n Karry location in Tampa, FL and stores in Lakeland, FL and Sarasota, FL during the Fall.

 

Home Depot (770-433-8211) plans to open an Expo Design Center in Miami, FL during October.

 

Pudgie's Chicken, Inc. (516-222-8833) recently signed a franchise agreement with Chaudhry Group of Nevada to open four Pudgie's Chicken restaurants in Carson City, Lake Tahoe and Reno.  The first unit will open during Fall and feature both drive through service and home delivery, both firsts for the company.

 

Sneaker Stadium (908-248-9090) plans to open a 15,000 sq.ft. store at Riverdale Plaza Shopping Center in Hampton, VA during Spring 1997.  The company is also planning to open a store at Military Crossing Shopping Center in Norfolk, VA during Fall.

 

Dillard's Department Stores (501-376-5200) plans to build a 155,000 sq.ft. store at Crossroads Center in Waterloo, IA.  The store is expected to open during August 1997.  The company also recently opened its expanded store at Tulsa Promenade Mall in Tulsa, OK.  The new store's GLA is 230,000 sq.ft.

 

Paper Warehouse (612-936-1000) plans to open corporate and franchised stores in Savannah, GA; Champaign, IL; St. Paul and Golden Valley, MN; Lee Summit, St. Joseph and Columbia, MO; Aurora, Boulder, Denver and Englewood, CO; Lawrence and Overland Park, KS; Rockland, MD; Watertown, SD; Dallas, TX and La Crosse, WI during the Fall.  The company plans to open corporate stores in the Minneapolis-St. Paul, MN area and Denver, CO during 1997 as well as 15 franchised stores next year.  Currently, the company operates and franchises 124 warehouse-style party stores in 22 states.

 

Rocky Mountain Chocolate Factory, Inc. (303-259-0554) plans to open FuzziWig stores inside Toys 'R Us Kids World stores in Elizabeth, NJ and Fairfax, VA during October.  FuzziWig's is Rocky Mountain Chocolate Factory's newest concept that sells hard conventional and unusual/nostalgic candies in a themed, entertainment environment.  The company is planning to open additional units inside other Toys 'R Us locations.

 

 

Lease Signings

 

Investment Management Associates (305-661-0110) leased 5,444 sq.ft. to Hasta Grill Steak, Seafood and Spirits restaurant in Coral Gables, FL.

 

CB Commercial Real Estate Group, Inc. (909-788-0880) leased 35,000 sq.ft. of land to McDonald's for a freestanding restaurant in Chino Hills, CA.

 

Robert B. Aikens & Associates (904-477-5642) leased 7,947 sq.ft. to Boaters World, 5,001 sq.ft. to Kirklands Gifts, 1,200 sq.ft. to Marks & Morgan Jewelers, 630 sq.ft. to Select Comfort and 562 sq.ft. to A+ Network at Cordova Mall in Pensacola, FL.

 

The Hausman Companies (216-464-5900) leased 23,584 sq.ft. to Staples in Alliance, OH

 

Rouse Co. (410-992-6500) leased 125,000 sq.ft. to J.C. Penney and 185,000 sq.ft. to Boscov's at Exton Square Mall in Exton, PA.  The stores, which are expected to open during 1999, are part of a 760,000 sq.ft. expansion project.

 

Mid-America Real Estate Group (708-954-7300) leased 38,000 sq.ft. to Crate & Barrel Furniture Outlet Center in Buffalo Grove, IL; 13,500 sq.ft. to Party City in Chicago Ridge, IL and 32,000 sq.ft. to Office Depot at Cadwell's Corners Shopping Center in Deerfield, IL.

 

Erwin L. Greenberg Commercial Corporation (410-837-2500) leased space to Applebee's Neighborhood Grill & Bar at Maryland Executive Park in Towson, MD and 16,400 sq.ft. to David's Bridal at Beltway Crossing Shopping Center in Glen Burnie, MD.

 

AmCap Properties, Inc. (303-321-1500) leased 1,660 sq.ft. to General Nutrition Center at Market Square Center in Aravada, CO; 1,200 sq.ft. to General Nutrition Center at Market Square Center in Lakewood, CO; 1,430 sq.ft. to Starbucks Coffee at Market Square Center in Aurora, CO; 1,600 sq.ft. to Starbucks Coffee at Market Square Center in Aravada, CO; 2,000 sq.ft. to Bruegger's Bagels at Market Square Center in Arvada, CO; 2,020 sq.ft. to Bruegger's Bagels at Market Square Center in Lakewood, CO; 6,000 sq.ft. to Rocky Mountain Rental Center in Federal Heights, CO; 1,392 sq.ft. to Pudge Bros. Pizza at Edgewater Village in Edgewater, CO and 1,825 sq.ft. to Fleet Feet at Cherry Hills Marketplace in Littleton, CO.

 

Sigma National, Inc. (804-320-6100) recently executed a ground lease with Chick-Fil-A Restaurant at Yoder Plaza Shopping Center in Newport News, VA.  The company also leased 26,040 sq.ft. to PetsMart, 23,484 sq.ft. to OfficeMax and 116,200 sq.ft. to Target at Greenbrier Market in Chesapeake, VA.

 

Hicks & Rotner Retail, Inc. (410-823-4250) leased 7,800 sq.ft. to Western Auto at Hollinswood Shopping Center in Baltimore, MD; 12,300 sq.ft. to Super Crown Books at Festival at Waldorf in Waldorf, MD and 12,400 sq.ft. to The Salvation Army at Luskin's Plaza in Randallstown, MD.

 

Grubb & Ellis (847-390-8050) leased 11,006 sq.ft. to The Signature Group at Grand Plaza Shopping Center in Chicago, IL; 6,888 sq.ft. to Hollywood Video in Chicago, IL; 1,000 sq.ft. to Hubbs Greenhouse at Woodstock Shopping Center in Woodstock, IL; 2,150 sq.ft. to Mid-City Beauty Supply in Naperville, IL; 1,684 sq.ft. to Our Comforts Fashions at The Plaza Shop in Arlington Heights, IL; 3,000 sq.ft. to Rent-A-Center in Gary, IN; 1,326 sq.ft. to Papa John's Pizza at Douglas Shopping Center in Waukegan, IL; 1,863 sq.ft. to Papa John's Pizza in Evanston, IL; 5,000 sq.ft. to Meineke Muffler in Niles, IL; 24,400 sq.ft. to Merlin's Muffler at Westview Center in Hanover Park, IL; 11,000 sq.ft., 10,000 sq.ft., 10,068 sq.ft., 10,000 sq.ft. and 10,010 sq.ft. to Murray's Discount Auto Stores in Chicago, IL; 2,687 sq.ft. to Wall Street Deli in Chicago, IL; 13,770 sq.ft. to The Rainbow Shops in Chicago, IL; 4,888 sq.ft. to Spin Cycle Laundry in Chicago, IL; 3,416 sq.ft. to Mid City Beauty in Geneva, IL and 32,000 sq.ft. to Office Depot at Caldwell Corners in Deerfield, IL.

 

Divaris Real Estate, Inc. (757-497-2113) leased 16,000 sq.ft. to Sneaker Stadium at Military Crossing Shopping Center in Norfolk, VA; 15,000 sq.ft. to Sneaker Stadium at Riverdale Plaza Shopping Center in Hampton, VA; 4,488 sq.ft. to Pets Warehouse at Marketplace at Southern Shoes on the Outer Banks of NC; 1,750 sq.ft. to Relax The Back Store at Princess Anne Plaza West in Virginia Beach, VA and a one acre ground lease to McDonald's Corp. in Richmond, VA.

 

The Hutensky Group (212-221-1677) leased 5,165 sq.ft. to Olympia Sports at Riverside Plaza Shopping Center in Keene, NH.

 

 

Lead Sheet

 

Great Pacific Iron Works

dba Patagonia

Peter Noone

259 West Santa Clara Street

Ventura, CA 93001

805-643-8616, Fax 653-6355

 

Apparel

The 14-unit chain operates locations in CA, CO, GA, HI, MA, MN, MT, NY, UT and WA.  The stores, which sell moderate-to-better sports apparel as well as camping equipment and backpacks, occupy spaces of 2,000 sq.ft. to 8,000 sq.ft. in freestanding facilities.  Plans call for as many as four openings in the coming 18 months.  Expansion will take place nationwide.  Leases running five years are typical.

 

Hot Topic, Inc.

dba Hot Topic

Marc Bertone

3410 Pomona Boulevard

Pomona, CA 91768

909-869-6373, Fax 869-6374

 

Apparel

The 53-unit chain operates locations in AZ, CA, CT, NV, OR, WA, MN, IL, NY, PA, MA, MD, NJ, NM and OH.  The men's and women's apparel stores occupy spaces of 1,200 sq.ft. to 1,500 sq.ft. in regional malls.  Growth opportunities are sought in the existing markets as well as in CO, IN, NH, VA, VT and WI.  Leases running 10 years are typical.

 

Ziebart

dba Ziebart Tidy Car

Dick Fogo

1290 East Maple Road

Troy, MI 48007-1290

810-588-4100, Fax 588-1444

 

Automotive

The 700-unit chain operates locations worldwide.  The automotive service centers, offering detailing and accessory installation services, occupy spaces of 2,500 sq.ft. to 4,000 sq.ft. in freestanding facilities and auto malls.  Plans call for 35 openings in the coming 18 months.  Expansion will take place throughout North America.  Leases running five years, with two options running five years each, are typical.

 

Crown Books Corp.

dba Crown Books, Super Crown Books

Dennis Weiss

3300 75th Avenue

Landover, MD 20785

301-731-1200, Fax 773-2707

 

Books

The 200-unit chain operates locations nationwide.  The book stores occupy spaces of 12,000 sq.ft. in power, specialty and strip centers.  Growth opportunities are sought nationwide.

 

1/2 Off Cards, Inc.

Stuart Kramer

c/o First Development Corp.

1328 Motor Parkway

Hauppauge, NY 11788

516-234-3200, Fax 234-3695

 

Cards

The 30-unit chain operates locations throughout the Northeastern region.  The stores, which sell greeting cards and stationary, occupy spaces of 2,000 sq.ft. in strip centers.  Preferred anchors include supermarkets.  Plans call for eight openings in the coming 18 months.  Expansion will take place in the existing markets.

 

Ohio Valley AFM, Inc.

dba Ameristop Food Marts

David Schweitzer

3955 Alexandria Pike

Cold Spring, KY 41076

606-781-3800, Fax 781-6821

 

Convenience Store

The 121-unit chain operates locations throughout IN, KY, OH and VA.  The convenience stores occupy spaces of 3,250 sq.ft. in strip centers.  Plans call for six openings in the coming 18 months.  Expansion will take place in the existing markets.

 

Silco Oil Co.

dba Barn Stores

Dale Hutchings

181 East 56th Avenue

Denver, CO 80216

303-292-0500, Fax 293-8069

 

Convenience Store

The 10-unit chain operates locations throughout CO.  The convenience stores, which also sell gasoline, occupy spaces of 2,400 sq.ft. in freestanding facilities and strip centers.  Growth opportunities are sought in the existing market.

 

Dry Cleaning Station

Bridget Engler

1000 Shelard Parkway, Suite 320

Minneapolis, MN 55426

800-655-8134, Fax 612-542-2246

 

Dry Cleaners

The nine-unit chain operates locations in MN, NE, OH and OR.  The dry cleaners occupy spaces of 2,500 sq.ft. to 4,000 sq.ft. in freestanding facilities and strip centers.  Plans call for 10 openings in the coming 18 months.  Expansion will take place in AZ, MI, OR and TX.  The company is franchising.

 

Alrenco, Inc.

dba Alrenco

Bud Holladay

1736 East Main Street

New Albany, IN 47150

812-949-3370, Fax 948-2579

 

Electronics

The 91-unit chain operates locations in AL, AZ, FL, IL, IN, KY, LA, MD, MS, OH, TN, VA and WV.  The stores, selling electronics, appliances, computers and home furnishings, occupy spaces of 3,000 sq.ft. to 3,500 sq.ft. in strip centers.  Plans call for as many as 40 openings in the coming 18 months.  The company plans to open new sites in the Southern region and also expand through acquisitions.

 

Magic Max, Inc.

dba Magic Max

Dave Eaton

3730 Grissom Lane

Kissimmee, FL 34741

407-847-7552, Fax 847-7882

 

Entertainment

The nine-unit chain operates locations in CA, FL, MN, NY, TX and WA.  The stores, which sell magic tricks and offer in-store magic demonstrations as well as Halloween-type masks, costumes and accessories, occupy spaces of 600 sq.ft. to 700 sq.ft. in downtown store fronts and regional malls.  Growth opportunities are sought nationwide in high tourist traffic areas.

 

Cozzoli's Pizza Systems, Inc.

dba Cozzoli's Pizza

John Cozzoli

4770 Biscayne Boulevard, Suite 1400

Miami, FL 33137

305-576-1922, Fax 576-8831

 

Food

The 60-unit chain operates locations in AL, CA, CO, FL, IN, NY, OK, TN, TX, VA and Washington, D.C.  The fast food restaurants, featuring pizza, occupy spaces of 600 sq.ft. to 1,200 sq.ft. in regional malls and strip centers.  Growth opportunities are sought nationwide.

 

Lone Star Steakhouse & Saloon, Inc.

dba Lone Star Steakhouse & Saloon

Max Sheets

224 East Douglas, Suite 700

Wichita, KS 67202

316-264-8899, Fax 264-5988

 

Food

The 177-unit chain operates locations nationwide.  The restaurants occupy spaces of 5,500 sq.ft. in freestanding facilities and end caps of strip centers.  Growth opportunities are sought nationwide.

 

Natural Wonders

Judy Brown

4209 Technology Drive

Fremont, CA 94538-6339

510-252-6600, Ext. 636, Fax 252-6793

 

Gifts

The 146-unit chain operates locations nationwide.  The stores, selling nature and science-oriented gifts, occupy spaces of 1,900 sq.ft. to 2,300 sq.ft. in downtown store fronts and regional malls.  Plans call for five openings in the coming 18 months.  Expansion will take place nationwide.

 

The Glidden Company

dba Glidden Paint & Wallcovering

Ray Miles

925 Euclid Avenue

Cleveland, OH 44115

216-344-8841, Fax 344-8883

 

Home Decor

The 625-unit chain operates locations throughout North America.  The stores, selling paints and wallcoverings, occupy spaces of 1,800 sq.ft. to 15,000 sq.ft. in freestanding facilities and strip centers.  Growth opportunities are sought in the existing markets.

 

Zale Corporation

dba Zale, Gordon, Corrigan's,

Baily Banks & Biddle

Jay Lepselter

901 West Walnut Hill Lane

Irving, TX 75038-1003

214-580-4000, Fax 580-4481

 

Jewelry

The 1,200-unit chain operates locations nationwide.  The jewelry stores occupy spaces of 1,200 sq.ft. to 6,000 sq.ft. in downtown store fronts, regional malls and specialty centers.  Plans call for 250 openings in the coming 18 months.  Expansion will take place nationwide.

 

Mika, Inc.

dba Pet Menagarie

Joe Pio

PO Box 1007

Westbrook, ME 04098

207-761-4551, Fax 761-4619

 

Pet Store

The 10-unit chain operates locations in CT, ME, MA, NH, VT and VA.  The pet stores occupy regional malls spaces running 2,700 sq.ft. to 3,200 sq.ft.  Growth opportunities are sought in the existing markets.

 

Ca$h Plus, Inc.

dba Ca$h Plus

Craig Wells

3002 Dow Avenue, Suite 510

Tustin, CA 92680

888-707-CASH, Fax 714-731-2099

 

Service

The 16-unit chain operates locations in CA and NV.  The stores, which offer check cashing services, occupy spaces of 1,000 sq.ft. to 1,500 sq.ft. in strip centers.  Plans call for 12 openings in the coming 18 months.  Expansion will take place within the existing markets.

 

Eurostar, Inc.

dba Warehouse Shoe Sale

Iris Matlow

13425 South Figueroa Street

Los Angeles, CA 90061

310-715-9300, Fax 329-0321

 

Shoes

The 16-unit chain operates locations throughout CA.  The shoe stores, selling branded footwear for the family, occupy spaces of 6,000 sq.ft. to 7,200 sq.ft. in freestanding facilities.  Growth opportunities are sought in the existing market.  Preferred demographic mix included 45% Hispanic, 45% African American and 10% mixed.

 

The Bureau of Creativity, Inc.

dba Psychic Fair

George Tucker

PO Box 26953

Tamarac, FL 33320

305-726-7256, Fax 726-1360

 

Specialty

The company operates one unit in FL.  The concept offers psychic readings and sells crystal jewelry and Native American dream catchers while occupying kiosks running between 196 sq.ft. and 400 sq.ft. in regional malls.  Growth opportunities are sought nationwide.

 

City Sports

Michael Kennedy

35 Concord Street

North Reading, MA 01864

508-664-8078

 

Sporting Goods

The nine-unit chain operates locations in MA, NY, PA and WI.  The sporting goods stores, which also sell sports apparel, occupy spaces of 7,000 sq.ft. to 10,000 sq.ft. in downtown store fronts and freestanding facilities.  Growth opportunities are sought in the existing markets.

 

Fairplay Foods, Inc.

dba Fairplay Finer Foods

Mike Kozlowski

4640 South Halsted

Chicago, IL 60609

312-247-3077, Fax 247-8134

 

Supermarket

The seven-unit chain operates locations in IL.  The supermarkets occupy spaces of 12,000 sq.ft. to 60,000 sq.ft. in freestanding facilities and strip centers.  Growth opportunities are sought in the existing market.

 

Tehan's Merchandising, Inc.

dba Only $ One

Richard Tehan

4619 Commercial Drive

New Hartford, NY 13413

315-768-6800, Fax 768-8273

 

Variety

The 16-unit chain operates locations in NY.  The stores, selling household items, clothing, health and beauty aides and toys at the price-point of $1 or less, occupy spaces of 10,000 sq.ft. in power, specialty and strip centers.  Plans call for nine openings in the coming 18 months.  Expansion will take place in the existing market.

 

Movie Warehouse of America

dba Movie Warehouse

Myles Gateland

29090 North Campbell

Madison Heights, MI 48071

810-584-3600, Fax 584-0339

 

Video

The 68-unit chain operates locations in FL, KY, OH, TN and TX.  The video stores occupy spaces of 4,500 sq.ft. to 6,000 sq.ft. in freestanding facilities and strip centers.  Plans call for 12 openings in the coming 18 months.  Expansion will take place in the existing markets.  The company is franchising.

 

 

Financial News...

 

OfficeMax, Inc. (216-295-6411) announces that sales for its second quarter increased 28.9% to $622.132 million from $482.46 million during the second quarter last year.  Comparable store sales increased 13.3%.  During the quarter, the company opened 18 OfficeMax superstores, 218 CopyMaxes, 213 of which were conversion of existing business service centers, and nine FurnitureMax stores.  The company ended the quarter with 493 superstores, 268 CopyMaxes and 33 FurnitureMaxes in 43 states.

 

Pancho's Mexican Buffet, Inc. (817-831-0081) announces that its third quarter sales were $18 million, down from $20.6 million during the same quarter last year.  Net earnings were $121,000 compared to a net loss of $5.348 million last year.  Comparable store sales fell 8.2% for the quarter.  The company currently operates 65 restaurants in AZ, LA, NM, OK, TX and Mexico.

 

Winn-Dixie Stores, Inc. (904-783-5000) reported net income of $255.6 million for fiscal 1996 compared to $232.2 million during FY95.  Sales increased to $12.96 billion from $11.79 billion last year.  Comparable store sales increased 1.7% for the quarter.  During the year, the company opened or acquired 61 units and closed 58 older stores.  The company ended its fiscal year with 1,178 supermarkets throughout the Southeastern region.

 

Hollywood Entertainment Corp. (503-677-1600) reported that its second quarter revenue increased 120% to $63.9 million from $29.1 million last year.  Comparable store sales increased six percent.  During the quarter, the company opened 58 stores and ended the quarter with 382 units in 27 states.

 

The Good Guys! (415-615-5000) announced a third quarter net loss of $3.4 million as compared to net income of $2.2 million last year.  Third quarter sales fell one percent to $196.6 million from $198.3 million.  Comparable store sales fell 13% for the quarter.  The company currently operates 75 units in CA, NV, OR and WA.

 

Aaron Rents, Inc. (404-231-0011) reported that its second quarter revenues increased 14% to $67.6 million from $59.1 million last year.  Net earnings increased 18% to $3.9 million from $3.3 million last year.  Rental revenues for the quarter increased 8%.  During the quarter, the company opened six company-owned units and seven franchised units for a total of 275 units in 25 states.  Franchises have been awarded for an additional 107 units.

 

Apple South, Inc. (706-342-4552) reported that its net sales for the second quarter increased 27% to $136.9 million from $108.1 million last year.  Net earnings increased 32% to $9.8 million from $7.4 million.  The company also announced that its plans to close and dissolve its 10-unit Tomato Rumba's Pastaria Grill chain and sell its 10-unit Hardee's restaurant division.  The company currently operates 265 units trading as Applebee's, Don Pablo's Mexican Restaurants and Harrigan's Grill and Bar.

 

Ben Franklin Retail Stores, Inc. (708-462-6100) recently filed for Chapter 11 protection in order to restore historic levels of service to its customers.  The company is working toward emerging from bankruptcy as quickly as possible and intends to emerge as a more competitive company by focusing on its core merchandise wholesaling business.

 

Delchamps, Inc. (334-433-0437) reported that sales for fiscal 1996 were $1.126 billion, a 6.8% increase over last year's sales of $1.054 billion.  Comparable store sales increased 7.06%.  Net earnings for the year were $2.852 million, compared to a net loss of $25.666 million last year.  During its fiscal year, the company opened one supermarket and one liquor store while closing two supermarkets and three liquor stores.  The company currently operates 117 supermarkets in AL, FL, LA and MS and 10 liquor stores in FL.

 

Fred W. Albrecht Grocery Co. (216-733-2861) recently completed the name change of its drug/convenience stores from Y-Mart to Acme Express in the Akron, OH area.

 

La-Z-Boy Chair Company (313-242-1444) announces that it has changed its name to La-Z-Boy Incorporated to better reflect the fact that company not only make recliners, but furniture for the entire house.

 

Checkers Drive-In Restaurants, Inc. (813-441-3500) reported that its second quarter total revenues fell to $38.7 million from $48.9 million last year.  Net loss was $1.8 million for the first six months of the year compared to a net loss of $2.9 million during the first two quarters last year.

 

Perkins Family Restaurants, L.P. (901-766-6400) announces that its net income for the second quarter increased 15.1% to $3.352 million from $2.912 million last year.  Revenues increased 4.4% to $63.516 million for the quarter.  The company currently operates and franchises 464 restaurants in 32 states and Canada.

 

 

Space Place

 

California

 

Rancho San Deigo-  Rancho San Diego Towne Center is anchored by Target, Lucky's and Edwards 18-screen theater.  The 400,000 sq.ft. project, which is expected to open during October 1997, has spaces available for lease.

  For details, contact David Larcher of Vestar Development Co. at (602-866-0900), Fax (955-2298).

 

Massachusetts

 

Malden-  Broadway Plaza is anchored by Super Stop & Shop and CVS Pharmacy.  The 150,000 sq.ft. project has a 65,000 sq.ft. former Stuart's Department Store available for lease.  The space can be expanded to 100,000 sq.ft.  Demographics include a five-mile population of 596,486 earning $50,050 as the average income.  In Springfield-  A 9,600 sq.ft. former Pier 1 Imports store is available for lease.  The site fronts Boston Road and is located near Eastfield Mall, J.C. Penney and Filene's.  Demographics include a five-mile population of 168,000 earning $40,000 as the average income.

  For details, contact Daniel Lynch of The Dartmouth Co. at (617-262-6620), Fax (262-1806).

 

Watertown-  Watertown Mall is anchored by Stop 'n Shop, Walgreens and Bradlees.  The 250,000 sq.ft. project has spaces of 830 sq.ft., 1,750 sq.ft., 2,220 sq.ft. and 9,600 sq.ft. available for lease.  The site is located near Arsenal Mall.  Demographics include a five-mile population of 731,000 earning $62,000 as the average household income.

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

 

Ohio

 

Perrysburg-  Fort Meigs Plaza is anchored by Big Lots, FoodTown Supermarket and Rite Aid Drugs.  The 104,990 sq.ft. project has a 1,532 sq.ft. space available for lease.  In Toledo-  Dorr Plaza is anchored by Rite Aid Drugs.  The 38,805 sq.ft. project has spaces of 1,746 sq.ft., 2,000 sq.ft. and 11,460 sq.ft. available for lease.  Demographics include a five-mile population of 226,190 earning $37,177 as the average income.  Also in Toledo-  The Marketplace at Miracle Mile is anchored by Cub Supermarket.  The 167,700 sq.ft. project has spaces of 8,000 sq.ft. and 36,950 sq.ft. available for lease.  One outlot space is also available for lease.  The site is located near Miracle Mile Shopping Center.  Demographics include a five-mile population of 217,543 earning $40,757 as the average income.

  For details, contact Sam Zyndorf or Stephen Serchuk of Zyndorf/Serchuk, Inc. at (419-249-7070), Fax (255-2439).

 

Virginia

 

Norfolk-  Hampton Boulevard Plaza is anchored by USA Discounters.  The 20,000 sq.ft. project has spaces from 1,200 sq.ft. to 8,000 sq.ft. available for lease.  The site is located near Wards Corner Shopping Center.  Also in Norfolk-  Palace Shoppes II has spaces from 2,500 sq.ft. to 10,000 sq.ft. available for lease.  The site is located near Ghent Market Shoppes.

  For details, contact Mike Zarpas of Robinson Sigma Commercial Real Estate at (804-640-7130), Fax (640-7131).

 

Norfolk-  Janaf Shopping Center is anchored by Montgomery Ward, T.J. Maxx, JC Penney Portfolio, General Cinemas, Sports Authority, OfficeMax, Circuit City, Marshall's, PetsMart, Discovery Zone, Old Navy Clothing and Home Quarters Warehouse.  The 885,000 sq.ft. project has spaces from 2,500 sq.ft. to 50,000 sq.ft. available for lease.  The site is located across from Military Circle Mall.

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