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The
Dealmakers Issue Number 31 for the week of September 4, 1996. Specialty
Retailers Looking To Expand Nationwide Batteries
Plus, Ltd. Partnership trades as Batteries Plus at 65 locations nationwide. The stores, which sell batteries for everything
from hearing aids to cars, occupy spaces of 1,712 sq.ft. in freestanding facilities and
strip centers. Plans call for as many as 90
openings in the coming 18 months. Expansion
will take place nationwide. For more information, contact Robert Cable,
Batteries Plus, Ltd. Partnership, 625 Walnut Ridge Drive, Suite 106, Hartland, WI 53029;
800-274-9155, Fax 414-369-0680. Things
Remembered, Inc. trades as Things Remembered Personalized Gifts and Engraved Things at 800
locations nationwide. The stores, which offer
personalized gift items as well as engraving and monogram services, occupy spaces of 1,500
sq.ft. to 2,800 sq.ft. in kiosks locations and regional malls. Plans call for 40 openings annually, including as
many as 15 kiosk locations. For more information, contact Bobby Drewin, Things
Remembered, Inc., 5340 Avion Park Drive, Highland Heights, OH 44143; 216-473-2000, Fax
473-2017. The
Electronics Boutique, Inc. does business as Electronics Boutique at 365 locations and as
Stop-N-Save Software at three locations nationwide. The
computer software stores occupy spaces from 1,000 sq.ft. to 3,000 sq.ft. in regional malls
and strip centers. Plans call for 50 openings
in the coming 18 months. Expansion will take
place nationwide. For more information, contact J.J. Firestone, The
Electronics Boutique, Inc., c/o A. Weiner, 1345 Enterprise Drive, West Chester, PA 19380;
610-430-8100, Fax 430-6574. Made
In Oregon operates 17 locations in OR. The
stores, selling items that are made, caught or grown in Oregon, occupy spaces of 2,000
sq.ft. in regional malls. Growth
opportunities are sought in the existing market. For more information, contact Sam Naito, Made In
Oregon, 5 Northwest Front Avenue, Portland, OR 97209; 503-273-8499, Fax 273-8313. Inet
Marketing trades as The Internet Store at five locations in GA and TX. The stores, offering Internet access and
assistance in developing World Wide Web sites in addition to training services and kiosks
that allow customers to compare the different levels of Internet access, occupy spaces of
3,000 sq.ft. to 4,000 sq.ft. in power and strip centers.
Growth opportunities are sought nationwide. For more information, contact Brady Watkins, Inet
Marketing, 1901 Central Drive, Suite 400, Bedford, TX 76021; 817-545-1625, Fax 545-4883. Retailers
Keeping Up with The Times Shaw's
Supermarkets, Inc. (508-378-7211) recently introduced a self-checkout system at its
supermarket in Derry, NH which allows customers to scan, bag and pay for their groceries
themselves. Shoppers first chose their
payment method (credit/debit card, cash, check or food stamps), then pass each of their
items over the scanner which registers the price and weight of the item, then place the
items in shopping bags. The shopping bags sit
on a "smart" scale which calculates the correct weight of the bag based on the
weight of the items which have been scanned. If
the weight of the bag does not correlate with the items scanned (e.g. if an item is not
scanned and is placed directly into the bag) an automated voice will remind the shopper to
re-scan the item. The company is planning to
install the system at some of its other locations. Wal*Mart
Stores, Inc. (501-273-4000) announces that it has launched on-line shopping pages on the
Internet for its Wal*Mart stores and Sam's Club stores.
Features include: shoppers at the site are greeted at the door by a sales associate
who assists them through the store; products can be placed into "shopping carts"
while browsing the rest of the site; a Secured Sockets Layer is used for secure on-line
credit card transactions; and purchases are shipped via UPS Ground Service within the
continental U.S. The address for Wal*Mart is
http://www.wal-mart.com and for Sam's Club is http://www.samsclub.com. Stop
& Shop (617-380-8000) recently entered a partnership with Peapod LP to bring its
online grocery service to Boston, MA and Providence, RI beginning this month. For a $5 monthly fee, customers can order from
20,000 different supermarket products and have the order delivered to their homes for an
additional $5 fee plus five percent of the grocery bill.
The monthly fee includes three hours of online time, and the company also offers
e-mail access to customers. Customers will
also be able to sort food by fat, calories and price; customize shopping instructions for
specific products; view pictures of products with nutritional labels; and redeem
electronic coupons. Who's
Opening and Where... Applebee's
International, Inc. (913-967-4000) recently appointed six new franchisees for its Rio
Bravo Cantina concept, bringing the number of franchisees to 15. These 15 franchisees are expected to open 100
units over the next several years. Dunkin'
Donuts (617-961-4000) recently reopened its University Place store in Charlotte, NC
through a new franchisee. The store had been
closed in May through a court order because the previous franchisee defaulted on a loan. Upton's
(770-662-2500) recently opened 37 department stores in FL at former Byrons locations. Wal*Mart
(501-273-4000) recently opened a 200,000 sq.ft. supercenter, which includes a Blockbuster
Video store, a McDonald's and a Cost Cutters hair salon, in Colorado Springs, CO. The store replaces a smaller Wal*Mart located two
blocks away. The company also recently
opened its first stores in China, a Wal*Mart Supercenter and a Sam's Club in Shenzhen,
which is adjacent to Hong Kong. Lechmere
(617-935-8320) recently opened a new concept called HomeImage in Holyoke, MA; Middletown,
NY; Montgomery, AL; Saginaw, MI and Wausau, WI. Buttrey
Food and Drug Stores Company (406-454-7289) plans to open a 54,645 sq.ft. supermarket
adjacent to Main Mall in Bozeman, MT. Chesapeake
Bagel Bakery (703-893-0167) plans to open two stores in Duluth, MN before the end of the
year. CompUSA,
Inc. (214-982-4000) plans to open a 25,000 sq.ft. store at Westridge Court Shopping Center
in Naperville, IL during the Fall; a 24,700 sq.ft. store in Portland, OR during Spring
1997 and a 25,600 sq.ft. store at Crossroads Shopping Center in Highland Park, IL during
Spring 1997. Rattlesnake
Holding Company, Inc. (203-975-9455) plans to open a Rattlesnake Southwestern Grill
restaurant in Manhattan, NY during October and is looking to open units in Brooklyn, NY
and Milford, CT at former restaurant sites it plans to acquire. Sears
(847-286-2500) plans to open a department store at Pine Ridge Mall in Pocatello, ID. Harris
Teeter (704-845-3100) plans to build a supermarket in Virginia Beach, VA that is expected
to open during 1998. Tandy
Corp. (817-390-3011) plans to add Coconuts Music & Movies departments at three of its
Incredible Universe stores in Elizabeth, NJ; Westbury, NY and Auburn, WA. Darden
Restaurants, Inc. (407-245-4000) plans to open its second Bahama Breeze restaurant at a
former China Coast location in Altamonte Springs, FL. Ruth's
Chris Steak House (504-454-9042) plans to open corporate-owned restaurants in Tampa, FL;
Kansas City, MO and Irvine, CA this year and as many as six corporate-owned units next
year. Morrison
Restaurants (334-344-3000) plans to expand its Ruby Tuesday's restaurant chain through
franchising, especially throughout the Western region.
The company currently operates 320 units. Mercantile
Stores Company, Inc. (513-881-8000) plans to open a 30,000 sq.ft. Castner Knott Co. Home
Store at CoolSprings Galleria in Nashville, TN. Castner
Knott also operates 187,000 sq.ft. department
store at the mall. Tiffany
& Co. (212-605-4696) plans to open 6,500 sq.ft. stores at Bellagio in Las Vegas, NV
and Cherry Creek Shopping Center in Denver, CO during 1998. Kroger
(513-762-4000) plans to open a 62,000 sq.ft. supermarket in Fort Wayne, IN. Nob
Hills Foods (408-842-6441) plans to open a 55,300 sq.ft. supermarket at Town Place in
Gilroy, CA. The store will replace an
existing 42,000 sq.ft. Nob Hill store at the project. Eddie
Bauer (206-869-4720) plans to test 11,000 sq.ft. "Casual Headquarters" stores
that combine Eddie Bauer sportswear stores and A/K/A Eddie Bauer stores at Southdale Mall
in Edina, MN and Keystone Crossing in Indianapolis, IN. Checkers
Drive-in Restaurants, Inc. (813-441-3500) recently opened its first restaurant outside of
the continental U.S. in Bayamon, Puerto Rico through franchisee SunCheck of Puerto Rico,
Inc., which has acquired the franchise rights for the Caribbean Basin. More restaurants are planned next year. Conversions,
Expansions And Renovations Greystone
Realty Corporation and Goldberg Property Associates recently purchased The University
Hills Shopping Mall in Denver, CO for $12 million and plans to redevelop the site into a
community shopping center totaling 250,000 sq.ft. The
project will be anchored by a 66,000 sq.ft. King Soopers grocery store, a 52,000 sq.ft.
Home Place store and a 30,000 sq.ft. OfficeMax store.
Other tenants will include Starbucks Coffee, Einstein Bagels, Stacey's Hallmark,
Great Clips, several in-line restaurants and a bank.
The enclosed mall is currently being demolished and construction of the new project
will follow. The new center is expected to
open during July 1997. For more information, contact Greystone Realty
Corporation at (203-629-1166), Fax (629-9859). CBL
& Associates Properties, Inc. recently began the renovation and expansion of Cortlandt
Town Center, formerly Westchester Mall, in Cortlandt, NY.
When completed, the project will be more than doubled in size from 387,291 sq.ft.
on 40 acres to 766,000 sq.ft. on 120 acres. New
stores coming to the project include a 133,000 sq.ft. Home Depot, a 55,000 sq.ft. Nobody
Beats The Wiz, a 53,000 sq.ft. Home Place and a 25,000 sq.ft. Barnes & Noble
bookstore. Moving from a 30,000 sq.ft. space
to a 65,028 sq.ft. space will be an A&P Supermarket and a 43,737 sq.ft., 11-screen
United Artist movie theater will replace a four-screen UA theater. The addition is expected to open during Fall 1997. For more information, contact David Locke, leasing
agent, at CBL & Associates Properties, Inc. at (617-647-3330). Northglenn
Partners, a joint venture of Highridge Partners affiliate company Summit Commercial and
Westcor Partners, plans to redevelop Northglenn Mall in Northglenn, CO beginning this Fall
or Winter and rename it Mall of The Rockies. The
850,000 sq.ft. project, which is anchored by Mervyn's, will be co-anchored by a 12-screen
Mann Theaters, HomeBase, Gart Sports, Chili's and Claim Jumper. A 15,000 sq.ft. ice skating complex is also
planned for the project. The redeveloped
project is expected to re-open in late Spring/early Summer 1997. For more information, contact Mark Kurtz,
executive vice president of Summit Commercial at (719-520-1000). Duke
Realty Investments plans to expand its The Corporate Park at Tuttle Crossing project in
Columbus, OH by 76,000 sq.ft. The Wal*Mart
and Best Buy anchored power center will be joined by an OfficeMax, a Family Toy Warehouse
and a Reading China store. For more information, contact Thomas Peck of Duke
Realty Investments at (317-574-3512). Westfield
Corporation recently opened part of the 708,735 sq.ft. expansion of Garden State Plaza in
Paramus, NJ three months ahead of schedule. The
expansion includes a 150,000 sq.ft. Neiman Marcus department store and a 130,000 sq.ft.
Lord & Taylor department store as well as the addition of 240,000 sq.ft. of specialty
store space which adds 100 specialty stores to the mall's roster. In addition, J.C. Penney increased its store size
to 150,000 sq.ft. and Nobody Beats The Wiz was increased to 50,000 sq.ft. The two million sq.ft. project is also anchored
by a 435,000 sq.ft. Macy's and a 272,000 sq.ft. Nordstrom's. In addition to the new stores, two new parking
decks were constructed and a parking lot added, bringing the total to 10,300 parking
spaces. A food court was also added to the
mall. For more information, contact Lucille DeHart,
Marketing Director, at (201-843-2121), Fax (843-1716). Real
Estate Professionals Making News Prime
Locations Consulting, Inc. (214-991-7000) announces that Jesse Armell has joined the
company as a vice president and opened an office at 9 Roy Avenue in South Attleboro, MA
02703; 508-761-5000, Fax 761-5055. CompUSA,
Inc. (214-982-4000) announces that it has signed new four-year employment agreements with
James F. Halpin, president and chief executive officer, and Harold F. Comption, executive
vice president and chief operating office of CompUSA and president/CompUSA stores. Konover
& Associates, Inc. (203-232-4545) announces the promotion of Michael A. Kolakowski to
president and chief operating officer. He
will manage both business development and operations at the company. Raley's
Supermarkets (916-373-3333) announces that Michael J. Teel has been named president of the
company, succeeding Charles Collings who will remain as chief executive officer. County
Seat Stores, Inc. (214-248-5100) announces that Barry J.C. Parker, chairman, president and
chief executive officer, has resigned after 11 years with the company. Gilbert Osnos has been named interim CEO. Michigan
Brewery, Inc. (517-731-0401) announces that David Hadelman has joined the company as
director of operations. In this position, he
will be responsible for the day-to-day operations of the company's restaurants. The
Hahn Co. (619-546-3393) announces that David L. Malmuth has joined the company as senior
vice president of development. Malmuth will
work jointly on current and future projects with Wayne Finley, senior VP and director of
development. Most recently, Malmuth served as
vice president of development at Walt Disney Imagineering and was former general manager
of the Disney Development Co. Perkins
Family Restaurants (901-766-6400) announces that Kenneth L. Keymer, executive vice
president, has resigned to become president of a quick-service restaurant chain. He had held the position for two years. House
of Fabrics, Inc. (818-995-7000) announces that its board of directors has elected R.N.
Hankin as chairman of the board. Additionally,
three new members, Carl C. Gregory III, John E. Labbett and Alison L. May, have been
appointed to the board of directors. Hollywood
Entertainment Corporation (503-677-1600) announces that it has divided its field
operations into four zones headed by four new senior vice presidents. Each senior VP will have direct line
responsibility over store operations, marketing, real estate and construction in their
zone. Three of the four senior VPs are in
place and include Dale A. Naftzger in the western zone; Glen E. Hahn in the central zone
and William M. Spae in the southern zone. Central
Tractor Farm & Country, Inc. (515-266-3101) announces that it recently elected Glenn
Kraiss, executive vice president store operations of Walgreen Co., to its board of
directors. The
International Council of Shopping Centers (212-421-8181) announces that Linda R. Crowley
of Linda Crowley and Associates, Irvine, CA; Linda L. Zelm of Towle Real Estate Company,
Minneapolis, MN and Carol L. Schillne of CB Commercial Real Estate Group, Inc. of Los
Angeles, CA have earned professional accreditation as Certified Leasing Specialists (CLS)
from the ICSC. Faison
Orlando (407-425-9700) announces the promotion of Jeff McFadden to managing director. In his new position, McFadden will assume total
responsibility for all investment sales activities. Musicland
Stores Corporation (612-932-7700) announces that Gary A. Ross has been appointed to the
new position of president, superstores drivision, which includes Media Play and On Cue
stores. Keith A. Benson has been appointed to
the new position of president of the mall stores division, which includes Sam Goody and
Suncoast stores. Source
Real Estate & Investment Co. (810-799-3030) announces that associate broker Matthew D.
Swantko has been promoted to vice president and that Danny K. Iacovoni has joined the
company as a sales associate. Lease
Signings The
Sansone Group, Inc. (314-727-6664) leased 1,750 sq.ft. to Cecil Whittaker's Pizzeria at
Mid Rivers Center in St. Louis, MO; 3,500 sq.ft. to Kraus Clothing at Olympic Oaks Village
in St. Louis, MO; 3,955 sq.ft. to Pasta House Company at Gravois Village Plaza in St.
Louis, MO; 4,661 sq.ft. to Johnnie Brock's Dungeon at Barrett Station in St. Louis, MO;
4,891 sq.ft. to Kuppenheimer Manufacturing Company and a 1.12 acre pad site to Lion's
Choice Restaurant at The Plaza at Sunset Hills in Sunset Hills, MO; 1,000 sq.ft. to Subway
Restaurants and 2,350 sq.ft. to Great Clips Hair Salon at Hilltop Village Shopping Center
in Eureka, MO; 2,363 sq.ft. to Tropix Tanning Salon, 1,680 sq.ft. to Associated Veterinary
Specialists, 3,840 sq.ft. to Softball and Baseball USA and 1,680 sq.ft. to Performance
Hair Salon at Ronnie's Plaza in St. Louis, MO; and 2,229 sq.ft. to Empress Garden, Inc.,
4,458 sq.ft. to Rizzos South County Restaurants, Inc., 2,000 sq.ft. to Tom Hobbs
Chiropractic Clinic of South County and 2,800 sq.ft. to Sally Beauty Company at South
Lakeview Plaza in St. Louis MO. CBL
& Associates Properties, Inc. (423-855-0001) leased 4,493 sq.ft. to Shoe Department,
3,924 sq.ft. to Jans Hallmark Shop, 2,851 sq.ft. to Dollar Tree, 1,531 sq.ft. to Reeds
Jewelers, 1,501 sq.ft. to Marks & Morgan Jewelry, 1,224 sq.ft. to Jarman Shoes, 899
sq.ft. to Master Cuts, 567 sq.ft. to The Cookie Store and a kiosk location to Sunglass Hut
at Bonita Lakes Mall in Meridian, MS and 2,768 sq.ft. to Atlanta Bread Company, 2,052
sq.ft. to The Wildlife Company, 1,977 sq.ft. to Small Sports, 4,700 sq.ft. to Garfield's
Restaurant & Pub, 1,333 sq.ft. to Barnies Coffee & Tea Co., 1,126 sq.ft. to Garden
Botanika, 924 sq.ft. to Jarman and 659 sq.ft. to Nail Studio at Westgate Mall in
Spartanburg, SC Garrick-Aug
Associates (212-850-0200) leased 25,000 sq.ft. to Just for Feet at West 42nd Street in
Times Square in New York City, NY. Montgomery
Group Affiliates (610-825-7100) leased 5,000 sq.ft. to Movie Gallery at Whitemarsh
Shopping Center in Conshohocken, PA. The
Hutensky Group (860-527-2222) leased 4,700 sq.ft. to Red Lobster at Riverside Plaza
Shopping Center in Keene, NH. Charter
Realty & Development (203-629-3939) leased 1,350 sq.ft. to China Kitchen and 3,400
sq.ft. to King Arthurs Discount Store at Shirley Mall in Shirley, NY; 7,200 sq.ft. to the
YMCA, 4,600 sq.ft. to Home Health Hardware, 2,000 sq.ft. to Score! Learning Center, 1,740
sq.ft. to Paul Richard Bagelry and 1,200 sq.ft. to Villorina Pasta in Fairfield, CT; 1,400
sq.ft. to Blimpie at Lakeshore Plaza in Lake Ronkonkomoa, NY; 12,150 sq.ft. to The Rag
Shop Fabrics & Crafts at Caldor Plaza in West Orange, NJ and 9,300 sq.ft. to Video
King at Irondequoit Plaza in Irondequoit, NY. Lanard
& Axilbund Colliers (215-925-4600) leased 6,138 sq.ft. to Food for Thought Restaurant,
5,782 sq.ft. to TLA Video, 2,290 sq.ft. to Slacks Hoagie House, 1,998 sq.ft. to Nations
Credit, 1,866 sq.ft. to Jenny Craig Weight Loss Centre, 820 sq.ft. to Crown Collection and
8,800 sq.ft. to CVS Pharmacy at Marlton Crossing Shopping Center in Marlton, NJ. Linda
Crowly & Associates, Inc. (714-857-7940) leased 1,020 sq.ft. to Rocket Wraps
restaurant at AM/PM Shopping Center in San Diego, CA. Duke
Realty Investments (317-575-8888) leased 40,000 sq.ft. to Lazarus Furniture Gallery,
23,000 sq.ft. to OfficeMax, 25,000 sq.ft. to Reading China and 23,000 sq.ft. to Family Toy
Warehouse at Tuttle Crossing in Columbus, OH. Boyd,
Page & Associates (713-877-8400) leased 23,225 sq.ft. to Heart & Hands Crafts
& Antiques Mall at Deer Park Triangle Shopping Center in Pasadena, TX. Sigma
National, Inc. (804-320-6100) leased space to Don Pablo's Mexican Restaurant at Yoder
Plaza Shopping Center in Newports News, VA. Fidelity
Land Development Corp. (201-966-2800) leased 13,160 sq.ft. to Rite Aid Corp. at Wharton
Mall in Wharton, NJ and 5,600 sq.ft. to Encore Books at Garwood Mall in Garwood, NJ. First
Union Real Estate Investments (216-781-4030) leased 59,000 sq.ft. to Gabriel Brothers,
11,000 sq.ft. to Dollar General Store and 3,000 sq.ft. to Wholesale Mattress Outlet at
Mountaineer Mall in Morgantown, WV; 4,000 sq.ft. to Bath and Body Works and an outparcel
to Apple South, Inc. for an Applebee's Restaurant at Crossroads Mall in Fort Dodge, IA and
10,000 sq.ft. to Cory Everson Aerobics and Fitness at Woodland Commons in Buffalo Grove,
IL. Lead
Sheet Leather
World Bernard
Noymer 30-A
Langley Road Newton,
MA 02159 617-332-6519,
Fax 332-8864 Accessories The
six-unit chain operates locations in MA. The
stores, selling luggage, leather goods and gifts, occupy spaces of 2,500 sq.ft. in
freestanding facilities, outlet and strip centers. Growth
opportunities are sought in MA and the states adjoining it. Prato
Men's Wear Outlets Mohamed
Ashmawy 28
West 34th Street New
York, NY 10001 212-629-4730,
Fax 465-9312 Apparel The
nine-unit chain operates locations in NJ and NY. The
stores, selling apparel and accessories, occupy spaces of 3,000 sq.ft. to 4,000 sq.ft. in
downtown store fronts, regional malls, outlet, power and strip centers. Preferred anchors include Kmart, Wal*Mart and
supermarkets. Plans call for as many as two
openings in the coming 18 months. Expansion
will take place in the existing markets. Leases
running 10 to 25 years are typical. Linens
Supermarket dba
Linens and More Ken
Schwach 26195
Bunert Road Warren,
MI 48089-3645 810-778-5191,
Fax 778-5651 Bed
& Bath The
33-unit chain operates locations in MI, OH and PA. The
stores, selling bed and bath items as well as linens and accessories, occupy spaces of
8,000 sq.ft. to 10,000 sq.ft. in power, specialty and strip centers. Growth opportunities are sought in the existing
markets. Service
Merchandise Co., Inc. dba
Service Merchandise Floyd
Dean 7100
Service Merchandise Drive Brentwood,
TN 37027 615-660-3923,
Fax 660-3934 Catalog
Showroom The
410-unit chain operates locations nationwide. The
stores, which sell gifts, housewares, jewelry, sporting goods and toys while using a
showroom format, occupy spaces of 50,000 sq.ft. in freestanding facilities and strip
centers. Growth opportunities are sought
nationwide. Strasburger
Enterprises, Inc. dba
Payless Convenience Stores, Quix
Food Source Rich
Hughes PO Box
6117 Temple,
TX 76503 817-778-3547,
Fax 778-0910 Convenience
Store The
50-unit chain operates locations in TX. The
convenience stores occupy spaces of 1,000 sq.ft. to 3,000 sq.ft. in freestanding
facilities and strip centers. Plans call for
as many as 10 openings in the coming 18 months. Expansion
will take place in the existing market. Magnifique
Parfumes & Cosmetics dba
Perfumania David
Taney 11701
NW 101 Road Miami,
FL 33178 305-889-1548,
Fax 888-9388 Cosmetics The
185-unit chain operates locations nationwide. The
stores, which sell designer brand fragrances and accessories at discount price-points,
occupy spaces of 900 sq.ft. to 1,200 sq.ft. in downtown store fronts, regional malls and
outlet centers. Plans call for 75 openings
in the coming 18 months. Expansion will take
place nationwide. Place's
Discount Stores Deborah
Casey I-35
Outer Road Bethany,
MO 64424 816-425-6301 Discount The
29-unit chain operates locations in IL, IA, KS and MO.
The discount stores occupy spaces of 18,000 sq.ft. to 30,000 sq.ft. in downtown
store fronts, freestanding facilities and strip centers.
Preferred anchors include supermarkets. Plans
call for the opening of four units in the coming 18 months. Expansion will take place in the existing
markets. Preferred demographics include a
population of 15,000 within 15 miles earning $20,000 as the average income. Leases running 15 years are typical and the
company prefers a finished shell ready for fixtures and inventory. May's
Drug Stores, Inc. dba
May's Drug Stores Devin
Heller 6705
East 81st Street Tulsa,
OK 74133-4158 918-496-9646,
Fax 496-8241 Drug
Store The
18-unit chain operates locations in MO and OK. The
drug stores occupy spaces of 8,000 sq.ft. to 12,000 sq.ft. in freestanding facilities and
strip centers. Growth opportunities are
sought in the existing markets. Jim
Dandy Dry Cleaners Mary
Anne Leiker 13273
Ventura Boulevard, Suite 101 Studio
City, CA 91604 818-995-2900,
Fax 788-9119 Dry
Cleaners The
18-unit chain operates locations in CA, FL, IL and NY.
The dry cleaners occupy spaces of 1,800 sq.ft. in strip centers. Plans call for five openings in the coming 18
months. Expansion will take place in the
existing markets. J.L.
Hammett Co. dba
Teaching Tools Vince
Botti PO Box
859057 Braintree,
MA 02185-9057 617-848-1000,
Fax 848-3970 Educational The
57-unit chain operates locations in FL, MA, IL, MD, VA, NY, NJ, OK, TX, MN, KS, MO and GA. The stores, which sell educational supplies,
occupy spaces of 3,000 sq.ft. in regional malls, power and strip centers. Growth opportunities are sought in the existing
markets. Leases running five years are
typical and the company is franchising. McClinton
Amusement Centers, Inc. dba
Diamond Jim's John
Mottram 4165
Carmichael Road Montgomery,
AL 36106 334-270-9653,
Fax 270-9811 Entertainment The
13-unit chain operates locations in AL, FL, MS and TX.
The family video arcades occupy spaces of 2,000 sq.ft. to 3,500 sq.ft. in regional
malls. Plans call for as many as three
openings in the coming 18 months. Expansion
will take place within the existing markets. America's
Steak Expert, Inc. dba
Firegrill, Mr. Steak James
Bishop 1401
17th Street, Ste 800 Denver,
CO 80202-1246 303-293-0200,
Fax 293-0299 Food The
30-unit chain operates locations in AL, CO, IN, MN, MO, MT, NC, OH, OK, OR and PA. The restaurants occupy spaces of 6,000 sq.ft. to
7,000 sq.ft. in freestanding facilities. Preferred
anchors include movie theaters. Plans call
for as many as 12 openings in the coming 18 months. Expansion
will take place in AZ, MI, PA and RI. Leases
running 20 years are typical. PNS
Stores, Inc. dba
Pic 'N Save, MacFrugals Bargains, McFrugal's
Closeouts Dan
Zuckerman 2430
East Del Amo Boulevard Dominguez,
CA 90206 310-761-4167,
Fax 631-8567 General
Merchandise The
300-unit chain operates locations in AZ, CA, TX, ID, TN, LA, FL, GA, IL, IN, NM, UT, MO,
CO, OK and NV. The general merchandise stores
occupy spaces of 20,000 sq.ft. in freestanding facilities, power and strip centers. Plans call for eight openings in the coming 18
months. Expansion will take place in CA, FL,
GA, LA and TX. Preferred demographics include
a population of 135,000 within five miles earning $30,000 as the average income. Leases running 10 years are typical and the
company prefers a vanilla shell. Salon
Development Corp. dba
Cutting Crew, Gentry Robert
Shaw PO Box
346 East
Hanover, NJ 07936 201-884-2330,
Ext. 104, Fax 884-0424 Hair
Salon The
55-unit chain operates locations in CT, NJ and NY. The
family hair cutting salons occupy spaces of 1,000 sq.ft. in regional malls and strip
centers. Plans call for as many as five
openings in the coming 18 months. Expansion
will take place in the existing markets. Quick
Weight Loss Centers, Inc. David
Vender c/o
Equity Properties 600
Haverford Road, Suite 204 Haverford,
PA 19041 610-645-7700,
Fax 645-5454 Health The
60-unit chain operates locations in CT, FL, NJ, NY and PA.
The weight loss centers occupy spaces of 1,200 sq.ft. in strip centers. Plans call for seven openings in the coming 18
months. Expansion will take place in the
existing markets with a particular emphasis on the metropolitan NY area. Blonders,
Inc. dba
Blonders Mike
Roesch 4121
Carnegie Cleveland,
OH 44103 216-391-0363,
Fax 391-0660 Home
Improvement The
eight-unit chain operates locations in OH. The
home improvement stores, which sell paint, wall coverings and window treatments, occupy
spaces of 3,500 sq.ft. in freestanding facilities and strip centers. Growth opportunities are sought in the existing
market. Reading
China and Glass Co., Inc. dba
Reading China & More Alan
Gersh 100
Lake Drive Newark,
DE 19702 302-369-0200,
Fax 369-9289 Housewares The
18-unit chain operates locations in AL, FL, GA, IN, TX, PA, GA, NC, VA, OH, NY, MO and KY. The stores, which sell china, glass and
kitchenware at discount price-points, occupy spaces of 25,000 sq.ft. to 30,000 sq.ft. in
outlet, power and strip centers. Plans call
for 35 openings in the coming 18 months. Expansion
will take place nationwide. Record
Exchange of Roanoke, Inc. dba
Record Exchange Don
Rosenberg 210
South Sharon-Amity Road Charlotte,
NC 28211 704-364-1784,
Fax 364-9925 Music The
11-unit chain operates locations in NC and VA. The
stores, which sell compact discs, records and tapes at discount price-points, occupy
spaces of 1,200 sq.ft. to 1,600 sq.ft. in power and strip centers. Plans call for as many as three openings in the
coming 18 months. Expansion will take place
in the existing markets. Pearle
Vision, Inc. dba
Pearle Vision Suk
Singh 2534
Royal Lane Dallas,
TX 76229 214-277-5000,
Fax 277-5966 Optical The
660-unit chain operates locations nationwide. The
optical stores occupy spaces of 2,500 sq.ft. to 3,000 sq.ft. in freestanding facilities,
regional malls and strip centers. Plans call
for 20 openings in the coming 18 months. Expansion
will take place nationwide. Petland,
Inc. dba
Petland Stan
Michnowicz 195
North Hickory Street Chillicothe,
OH 45601 614-775-2464,
Fax 775-2575 Pet
Store The
145-unit chain operates locations nationwide as well as in Canada, France and Japan. The full-service pet centers occupy regional mall
spaces running 1,200 sq.ft. to 3,500 sq.ft. and strip center spaces running 3,000 sq.ft.
to 10,000 sq.ft. Growth opportunities are
sought nationwide. Parcel
Plus Alasdair
Philip 2661
Riva Road, Building 1000 #1022 Annapolis,
MD 21401-7351 410-266-3200,
Fax 266-3266 Service The
115-unit chain operates locations nationwide. The
stores, which offer shipping and business support services, occupy spaces of 1,000 sq.ft.
to 1,500 sq.ft. in strip centers. Growth
opportunities are sought nationwide. The
Disney Store, Inc. dba
The Disney Store David
LeMons 101
North Brand Boulevard, Suite 1000 Glendale,
CA 91203 818-265-3382,
Fax 543-0340 Specialty The
503-unit chain operates locations worldwide. The
stores, selling Disney merchandise, occupy spaces of 6,000 sq.ft. in regional malls. Plans call for 30 openings in the coming 18
months. Expansion will take place worldwide. First
Row Video, Inc. Tom
Strauss c/o
T.S. & Associates 19
Colonial Drive, Suite 26 Youngstown,
OH 44505 330-759-3039,
Fax 759-9340 Video The
25-unit chain operates locations in OH and PA. The
video stores occupy spaces of 6,000 sq.ft. to 10,000 sq.ft. in freestanding facilities. Preferred anchors include supermarkets. Growth opportunities are sought in the existing
markets. Preferred demographics include a
population of 100,000 within three miles earning $40,000 as the average income. Leases running five years are typical. Financial
News... Pacific
Sunwear of California, Inc. (714-701-4000) reported that its second quarter sales
increased 35% to $34.6 million from $25.7 million during the second quarter last year. Comparable store sales increased 7.4%. The company, which currently operates 195 stores
in 32 states, is planning to open 17 stores during the second half of the year. The
May Department Stores Company (314-342-6300) reported that its second quarter earnings
increased to $110 million from $107 million during the second quarter last year. Sales increased 8.5% to $2.43 billion from $2.24
billion last year. Comparable store sales
increased 2.3% for the quarter. During the
quarter, the company opened 17 stores and plans to open nine more during the remainder of
the year. Currently, the company operates 360
department stores in 30 states. Buffets,
Inc. (612-942-9760) announces that its second quarter net earnings increased 8.5% to
$8.217 million from $7.571 million last year. Restaurant
sales increased 10.2% to $131.451 million from $119.282 million with comparable store
sales down 2.9% for the quarter. During the
quarter, the company opened five units and is planning to open as many as 21 units during
the remainder of the year. The company
currently operates 256 Old Country Buffet restaurants in 31 states. Universal
International, Inc. (612-533-1169) reported that its second quarter revenues increased
7.6% to $18.509 million from $17.206 million last year.
Net loss for the quarter was $1.382 million compared to a net loss of $244,000 last
year. The company currently operates 66
stores trading as Only Deals and Odds -N-Ends. The
Home Depot (770-384-2700) reported that its second quarter net earnings were $270 million,
a 27% increase over last year's results of $213 million.
Second quarter sales increased 27% to $5.293 billion from $4.152 billion with
comparable store sales up nine percent. During
the quarter, the company opened 15 stores and currently operates 456 stores throughout
North America. Wal*Mart
Stores, Inc. (501-273-4000) reported that its total second quarter sales increased 13% to
$25.587 billion compared to $22.723 billion during the same quarter last year. Total net income for the quarter increased 12% to
$706 million from $633 million last year. By
division, Wal*Mart's sales increased 14% to $18.256 billion from $15.951 billion and
posted an operating profit of $1.271 billion, a 10% increase over last year's operating
profit of $1.16 billion; Sam's Club sales increased two percent to $4.969 billion from
$4.87 billion and saw its operating profit during the quarter fall to $203 million from
$205 million last year; the International Division had a 41% increase in sales to $1.132
billion from $802 million and had an operating loss of $10 million compared to an
operating profit of $17 million. At the end
of the quarter, the company operated 1,958 Wal*Mart stores, 303 Supercenters, 434 Sam's
Club stores, 134 Canadian Wal*Marts, 134 Mexican units, 11 Puerto Rico units, five
Brazilian units and four Argentina units. J.C.
Penney Company, Inc. (214-431-1000) reported that its second quarter net income fell 19.8%
to $93 million as compared to $116 million during the same quarter last year. Second quarter sales increased 1.6% to $4.5
billion from $4.435 billion last year. Operating
profit during the quarter fell 12.4% to $162 million from $185 million. Thrifty
PayLess Holdings, Inc. (503-682-4100) reported that its third quarter sales increased 3.5%
to $1.213 billion from $1.172 billion last year. Comparable
store sales increased 2.9% with pharmacy comparable store sales up 12.8%. Third quarter operating profit increased 27.3% to
$41.5 million from $32.6 million. During the
quarter, the company opened six stores and closed five and currently operates 1,049 stores
in 11 western states. Koo
Koo Roo, Inc. (310-479-2080) reported that its second quarter revenues doubled to $9.38
million from $4.6 million last year with comparable store sales increasing 16% for the
quarter. The company also reported a second
quarter net loss of $1.6 million, compared to a net loss of $1.86 million during the
second quarter last year. The company
operates 23 units in CA, FL and NJ with units planned for CO, NY, and the Washington, D.C.
area. Moovies,
Inc. (864-213-1700) reported that its second quarter revenues were $18.285 million,
compared to revenues of $1.275 million during the same quarter last year. Net income for the second quarter was $591,000
compared to net income of $30,000 last year. The
company currently operates 190 units in 15 states. Space
Place Illinois Elgin- Otter Creek Shopping Center is anchored by Omni. The 240,000 sq.ft. project has an 86,000 sq.ft.
space available for lease. Demographics
include a five-mile population of 107,888 earning $46,293 as the average income. In North Riverside-
North Riverside Plaza is anchored by Kohl's, Burlington Coat Factory and Best Buy. The 200,000 sq.ft. project has a 25,000 sq.ft.
space available for lease. Demographics
include a five-mile population of 651,770 earning $37,494 as the average income. For details, contact Martin Wynne of Klaff Realty,
LP at (312-360-1234), Fax (360-0606). Indiana Kokomo- Kokomo Mall is anchored by J.C. Penney, Elder
Beerman and Phar Mor. The 385,000 sq.ft.
project has spaces of 1,091 sq.ft., 2,611 sq.ft., 3,350 sq.ft. and 7,500 sq.ft. available
for lease. Demographics include a five-mile
population of 70,000 earning $37,000 as the average income. For details, contact Greg Potts of Koll Real
Estate Services at (614-848-4500), Fax (848-5655). Nebraska Omaha- Brookside Plaza Shopping Center is anchored by
Festival Foods. The 91,000 sq.ft. project has
a 1,200 sq.ft. space and a pad site available for lease.
Demographics include a five-mile population of 155,000 earning $57,000 as the
average household income. For details, contact David Rosen of Rosen
Associates Management Corp. at (516-822-5350), Fax (433-3821). New
Jersey Paramus- A two-story, freestanding former Fortunoff's store
is available for lease. The 39,600 sq.ft.
building is subdividable and has 19,800 sq.ft. available on each floor. A 19,800 sq.ft. basement area is also available.
The site fronts Route 17 which has a daily traffic count of 123,000 vehicles. For details, contact Alan Goldstein of The
Goldstein Group at (201-703-9700). Ohio Columbus- Northgate Plaza is anchored by Kroger. The 85,540 sq.ft. project has spaces from 1,400
sq.ft. to 4,900 sq.ft. available for lease. Space
is also available for a second anchor up to 150,000 sq.ft. For details, contact The Midland Group at
(513-891-2323). Tennessee Murfreesboro- Broad Street Centre is anchored by Kmart, Big
Lots, Cato, Payless Shoes and Hooters. The
200,000 sq.ft. project has an 8,000 sq.ft. end cap space, a 12,800 sq.ft. space and an
outparcel available for lease. For details, contact Anthony Vita of Vita &
Vita Realty Corp. at (201-227-5233). |