Issue 40 for the week of November 13, 1996

The Dealmakers Issue Number 40 for the week of November 13, 1996.

Home Furnishing Tenants Looking for Sites Nationwide

Stimson & Son Furniture, Inc. trades as Stimson Furniture at six locations in TX. The furniture stores occupy spaces of 7,200 sq.ft. to 27,000 sq.ft. in freestanding facilities. Growth opportunities are sought in the existing market.

For more information, contact Richard Robertson, Stimson & Son Furniture, Inc., 322 West Main, Kennedy, TX 78119; 210-583-9859, Fax 583-9543.

Heilig-Meyers Furniture Co. operates 750 locations nationwide. The furniture stores occupy spaces of 25,000 sq.ft. in freestanding facilities and strip centers. Preferred anchors include Kmart, T.J. Maxx, Wal*Mart and supermarkets. Plans call for 100 openings in the coming 18 months. Expansion will take place nationwide. Preferred demographics include a population of 50,000 within 10 miles earning $30,000 as the average income. Leases running 10 years are typical.

For more information, contact Steve Hull, Heilig-Meyers Furniture Co., 2235 Staples Mill Road, Richmond, VA 23230; 804-359-9171, Fax 254-1437.

Scan International, Inc. does business as Scan Contemporary Furniture at eight locations in MD and VA. The stores, selling contemporary Scandinavian furniture, occupy spaces of 15,000 sq.ft. in strip centers. Preferred anchors include home improvement chains and fashion oriented stores. Growth opportunities are sought in the existing markets.

For more information, contact Russ Dailey, Scan International, Inc., 1800 Rockville Pike, Rockville, MD 20852; 301-984-2960, Fax 984-0755.

Fastway Rent To Own, Inc. trades as Fastway Rent To Own at 28 locations in AR, MO, MS and TX. The stores, which offer furniture, home furnishings, appliances and electronics, occupy spaces of 4,000 sq.ft. in freestanding facilities and strip centers. The company caters to 25 to 45 year old customers earning low to moderate incomes. Growth opportunities are sought in the existing markets.

For more information, contact Will Morris, Fastway Rent To Own, Inc., 1601 Westpark Drive, Suite 3, Little Rock, AR 72204; 501-663-2330, Fax 663-8116.

Futon of North America operates 22 locations in WA. The stores, selling futons and futon frames, occupy spaces of 1,800 sq.ft. to 3,900 sq.ft. in downtown store fronts, regional malls, power, specialty and strip centers. Plans call for 10 openings in the coming 18 months. Expansion will take place in OR and WA. Leases running five years are typical.

For more information, contact Dan Durr, Futon of North America, c/o 1st Western Properties, PO Box 111148; Tacoma, WA 98411; 206-472-0404, Fax 472-0541.

Food Tenants Hungry for Sites Nationwide

Applebee's International trades as Applebee's Neighborhood Grill & Bar at 742 locations throughout North America, the Caribbean and Europe. The restaurants occupy spaces of 5,000 sq.ft. to 5,500 sq.ft. in freestanding facilities, regional malls and strip centers. Growth opportunities are sought throughout North America. Leases running 20 years are typical.

For more information, contact Jeff Kirkpatrick, Applebee's International, 4551 West 107th Street, Suite 100, Overland Park, KS 66207; 913-967-4000, Fax 341-1694.

The County Line, Inc. trades as County Line at 12 locations in CO, NM, OK and TX. The Texas-style restaurants occupy spaces of 7,000 sq.ft. in freestanding facilities. Growth opportunities are sought in the existing markets as well as in NE.

For more information, contact Bruce Walcutt, The County Line, Inc., 3345 Bee Cave Road, Suite 150, Austin, TX 78746; 512-327-1959, Fax 327-2622.

Au Bon Pain, Inc. trades as Au Bon Pain at 300 locations nationwide. The restaurants, serving bakery and sandwich items, occupy spaces of 800 sq.ft. to 3,000 sq.ft. in downtown store fronts, strip centers and food courts at regional malls. Plans call for 24 openings in the coming 18 months. Expansion will take place nationwide. Leases running 10 years are typical.

Au Bon Pain, Inc. also trades as Saint Louis Bread Company at 60 locations in GA, IL, KS, MI, MO and MA. The restaurants, serving bakery and sandwich items, occupy spaces of 3,000 sq.ft. to 3,400 sq.ft. in regional malls and strip centers. Plans call for 20 openings in the coming 18 months. Expansion will take place in the existing markets.

For more information on the above two companies, contact Mitch Roberts, Au Bon Pain, Inc., 19 Fid Kennedy Avenue, Boston, MA 02210; 617-423-2100, Fax 464-0109.

Japanese Restaurants Limited trades as Made In Japan and Teriyaki Experience at 43 locations in Canada. The Japanese restaurants occupy spaces of 350 sq.ft. in food courts of regional malls. Plans call for 15 openings in the coming 18 months. Expansion will take place in the existing market.

For more information, contact Nik Jurkovic, Japanese Restaurants Limited, c/o The Donato Group, 2133 Royal Windsor Drive #23, Mississauga, Ontario, CN L5J 1K5; 905-823-8883, Fax 823-5255.

The Breadsmith operates 31 locations in CA, FL, GA, IL, IN, MO, MI, MN, NJ, VT and WI. The stores, offering traditional European hard crusted breads baked from scratch daily, occupy spaces of 1,500 sq.ft. in downtown store fronts, strip centers and outparcels. Plans call for nine openings before the end of the year. Expansion will take place nationwide. The company is franchising and site selection is determined by the franchisor's interest.

For more information, contact Marc Cayle, The Breadsmith, 3510 North Oakland Avenue, Suite 212, Shorewood, WI 53211; 414-962-1965.

Brinkers International, Inc. trades as Macaroni Grill at 70 locations in 23 states. The Italian restaurants occupy spaces of 7,300 sq.ft. in freestanding facilities. Growth opportunities are sought nationwide.

The company trades as Corner Bakery at eight locations in IL. The restaurants, serving bakery goods, sandwiches and salads, occupy spaces of 3,500 sq.ft. to 4,000 sq.ft. in strip centers. Growth opportunities are sought nationwide.

The company also trades as Maggiano's at three locations in IL. The Italian restaurants, some of which feature a bakery and banquet facilities, occupy spaces of 1,200 sq.ft. to 20,000 sq.ft. in freestanding facilities. Growth opportunities are sought nationwide.

For more information, call Brinker International's hotline at 1-214-770-9571 and give the city and state to reach the regional director of real estate. The company's address is Brinkers International, Inc., 6820 LBJ Freeway, Dallas, TX 75240; 214-770-9373, Fax 770-9467.

Mr. Bulky Treats & Gifts operates 210 locations nationwide. The stores, selling bulk specialty items, occupy spaces of 1,300 sq.ft. in regional malls and specialty centers. Plans call for 24 openings in the coming 18 months. Expansion will take place nationwide.

For more information, contact Sid Rubin, Mr. Bulky Treats & Gifts, 755 West Big Beaver, Suite 1600, Troy, MI 48084-0178; 810-244-9000, Fax 244-9365.

Candy Headquarters, Inc. trades as Candy Headquarters at 36 locations nationwide. The candy stores occupy spaces of 750 sq.ft. in regional malls. Growth opportunities are sought nationwide. The company is also seeking locations in Europe and the Pacific Rim.

For more information, contact Mark Lando, Candy Headquarters, Inc., 1830 Forbes Avenue, Pittsburgh, PA 15219; 412-434-6711, Fax 434-6718.

Champps Entertainment, Inc. trades as Champps Entertainment at 15 locations in CA, IN, NE, NJ, TX and WI. The restaurants occupy spaces of 8,000 sq.ft. to 10,000 sq.ft. in freestanding facilities and end-caps of strip centers. Growth opportunities are sought nationwide.

For more information, contact Dean Vlahos, Champps Entertainment, Inc., 153 East Lake Street, Wayzata, MN 55391; 612-449-4841, Fax 449-4963.

California Pizza Kitchen operates 80 locations nationwide. The restaurants, serving gourmet pizza, pasta and salads, occupy spaces of 3,500 sq.ft. to 5,500 sq.ft. in a variety of real estate settings. Plans call for as many as 15 openings in the coming 18 months. Expansion will take place nationwide.

For more information, contact Len Kareska, California Pizza Kitchen, 106 West Calendar Court, Suite 301, La Grange, IL 60525; 708-354-2600, Fax 354-2624.

Caffino, Inc. trades as Caffino at 22 locations in CA. The restaurants, serving expresso, coffee, smoothies, pastries and bagels, occupy spaces of 225 sq.ft. in freestanding facilities and strip centers. Plans call for 25 openings in the coming 18 months. Expansion will take place in CA, IL, ME, MA, NH and RI.

For more information, contact Steve Lilly, Caffino, Inc., 6140 Stoneridge Mall, Suite 450, Pleasanton, CA 94588; 510-460-2939, Fax 416-0120.

Franchise World Headquarters does business as Subway at 11,000 locations nationwide. The restaurants, specializing in sandwiches, occupy spaces of 1,000 sq.ft. in a variety of real estate settings. Plans call for 1,000 openings in the coming 18 months. Expansion will take place nationwide.

For more information, contact Lisa Oak, Franchise World Headquarters, 325 Bic Drive, Milford, CT 06460; 203-878-2791, Fax 876-6692.

Financial News...

Family Dollar Stores, Inc. (704-847-6961) reported that sales for fiscal 1996 increased 10.8% to $1.714 billion from $1.546 billion during FY95. Net income increased 4.3% to $60.587 million from $58.109 million. During the year, the company opened 223 stores and ended the fiscal year with 2,585 stores in 38 states. Plans for fiscal 1997 call for the opening of 235 stores and the closing of 50 stores.

Office Depot, Inc. (407-265-4258) reported that its third quarter sales were $1.509 billion, a 13% increase over last year's sales of $1.337 billion. Net earnings for the quarter fell to $31.858 million from $36.842 million last year. Comparable store sales increased four percent for the quarter. During the quarter, the company opened eight stores and ended the quarter with 502 stores nationwide.

Kmart Corp. (810-643-1000) and DAKA International, Inc. recently terminated discussions to establish a joint venture company to operate restaurants in Kmart and Super Kmart stores.

Staples, Inc. (508-370-8500) has canceled its plans to build a 24,000 sq.ft. store at Delta Oaks Shopping Center in Eugene, OR.

The Mills Corporation (703-526-5146) and Cambridge Shopping Centres Limited of Canada recently formed a joint venture partnership to develop Mills-type projects in major Canadian metropolitan markets. Initial projects will be targeted in Toronto, Vancouver, Montreal and Calgary.

Blockbuster Entertainment (954-982-3000) plans to move its headquarters from Fort Lauderdale, FL to Dallas, TX in the near future.

The Italian Oven, Inc. (412-537-8340) recently filed for Chapter 11 protection. The company operates and franchises 95 restaurants in 21 states.

County Seat, Inc. (214-248-5100) recently filed for Chapter 11 protection. As part of its restructuring, the company plans to close 200 unprofitable stores or stores that no longer reflect the company's strategic direction.

Stein Mart, Inc. (904-346-1500) reported that its net income for the third quarter was $2.4 million, up from $1.6 million during the third quarter last year. Net sales for the quarter increased 21.3% to $131.3 million from $108.2 million last year. Comparable store sales increased 4.4% for the quarter. During the quarter, the company opened three stores and currently operates 115 units. Eleven stores are planned for the fourth quarter.

Consumer Electronics retailers took a beating in September (with Best Buy and CompUSA as the exception) as both total sales and comp store sales fell. First the good news: Best Buy showed a 13% increase in September sales to $689 million coupled with a two percent increase of its comparable store sales. CompUSA showed a 26.7% increase in sales to $991 million with comparable store sales up 7.2%. Now the bad news: Campo Electronics, Appliances & Computers sales fell 13.4% to $22.5 million during September with comp store sales down 12.1%; Circuit City saw a 13% sales decrease in September. However, comp store sales increased 0.4% for the month. Roberds had mixed news with a 30.9% increase in September sales to $32.6 million, but a 0.3% decrease in comp store sales; Tandy Corp.'s total sales were up 0.3% for September to $478.9 million, but comp store sales were down 8%. By division, Radio Shack posted sales decline of 6% and a comp store decline of 6%, Computer City sales were up 4% with comp store sales down 15% and Incredible Universe stores had a 15% sales increase and a 2% comp store sales increase. Ultimate Electronics posted a 2% September sales gain to $20.7 million, but comp store sales fell 19%.

Waban, Inc.'s (508-651-6063) board of directors recently approved a proposal providing for the tax-free distribution, in the form of a special dividend to stockholders, of all the outstanding shares of common stock of a newly-formed subsidiary to be named BJ's Wholesale Club, Inc. The new company will be publicly traded. The move separates BJ's Wholesale Club from Waban's HomeBase home improvement store business. After the distribution, which is expected to be completed during Spring 1997, Waban, Inc. plans to change its name to HomeBase, Inc. Currently, BJ's Wholesale Club operates 79 units in the Northeastern region and HomeBase operates 84 home improvement stores in the Western region.

Hi-Lo Automotive, Inc. (713-663-6700) reported that sales for its third quarter decreased 10.8% to $64.4 million from $72.2 million with comparable store sales down 11.5%. The company currently operates 192 automotive parts stores in CA, LA and TX.

Drug Emporium, Inc. (614-548-7080) reported that its second quarter net sales increased to $212.6 million from $167.8 million last year. However, net income fell to $250,000 from $466,000 last year. The company operates and franchises 234 stores.

Discount Auto Parts, Inc. (813-687-9226) reported that sales during its first fiscal quarter increased 26.3% to $90.1 million from $71.4 million. Comparable store sales increased 8.7%. Net income for the quarter increased 36.% to $6.4 million from $4.7 million. During the quarter, the company opened 21 stores and currently operates 336 units in AL, FL, GA and SC.

Walgreen Co. (847-940-2500) reported that net sales for its fiscal year increased 13.3% to $11.8 billion and the its net earnings for the year increased 15.9% to $320.8 million. During the year, the company opened 210 drug stores and ended the years with 2,193 units in 34 states.

Jim Wilson & Associates Expands Its Portfolio of Properties

Jim Wilson & Associates, Inc. recently landed another star player for its Mall at Shelter Cove in Hilton Head, SC. Saks Fifth Avenue will open a 40,000 sq.ft. store in its resort format during Spring 1997 at the former J.C. Penney store location. The Mall at Shelter Cove store will be the third Saks location in SC and the company's seventh resort store. Jim Wilson & Associates took over the management and leasing of The Mall at Shelter Cove only one year ago for its owner Pacific Mutual. The 345,000 sq.ft. mall's notable tenants, which is also anchored by Belk Stores, include Polo Ralph Lauren, Ann Taylor, The White House and Banana Republic. A 2,500 sq.ft. Talbots Petites was recently added to an existing Talbots store. Jim Wilson & Associates is expanding its 13 million sq.ft. owner/management portfolio with the recent groundbreaking for The Mall of Louisiana, a 1.4 million sq.ft. project in Baton Rouge, LA, marking the newest addition as the 76th shopping center to be developed by the company. Anchor tenants at the two level project include Maison Blanche, Sears, J.C. Penney, Dillard's and McRae's. Space for 135 specialty stores, four full service restaurants, a food court and an antique carousel will also be constructed. An October 1997 opening is planned. The company is currently expanding its Bel Air Mall in Mobile, AL. The 1.5 million sq.ft. project, which is anchored by Parisian, Dillard's, Sears and J.C. Penney was recently joined by a 116,000 sq.ft. Target store. Other expansion projects include a 90,000 sq.ft. addition to the Sears store which includes 20,000 sq.ft. on the first floor and the construction of a 70,000 sq.ft. second level; an expansion of the Dillard's store from 140,000 sq.ft. to 210,000 sq.ft.; expansion of the Parisian store from 85,000 sq.ft. to 125,000 sq.ft. and the renovation of the J.C. Penney store. The mall is also home to more than 125 specialty stores, restaurants and services including Bel Air Village, an open-air convenience center. The company is also expanding and renovating Edgewater Mall in Biloxi, MS. The 815,000 sq.ft. project, which is anchored by J.C. Penney, Gayfer's and Sears, will be joined by a 160,000 sq.ft. McRae's. Space for 12 specialty stores will also be constructed to join the more than 110 specialty stores and restaurants already located at the site.

For more information, contact Jim Wilson of Jim Wilson & Associates, Inc. at (334-260-2500), Fax (260-2533).

Store Closings

Spec's Music (305-592-7288) recently closed its 7,200 sq.ft. store in Bradenton, FL because it didn't fit in with the company's plans for new marketing strategies.

Payless Cashways (816-234-6630) plans to close nine underperforming stores in IL, MN, MO and TX.

Office 1 Superstore (847-616-8686), which recently filed for Chapter 11 protection, plans to close 35 stores in 11 Midwestern states. Many of the stores are located in secondary markets.

Who's Opening and Where...

Kurtis Kitchen and Bath Centers (313-522-7600) recently opened a showroom in Lincoln Park, MI. The company currently operates nine stores in the metro Detroit area.

Venture Stores, Inc. (314-281-5500) plans to test nine Venture Dollar Stores beginning next month. The stores will "cater to customer looking for the value end of the range on basic convenience items" with many items priced below $10. The stores, which will be tested at unannounced locations within the company's existing markets, will run between 7,000 sq.ft. and 10,000 sq.ft. The average Venture store is 100,000 sq.ft.

Crate & Barrel (708-272-2888) recently opened a 14,500 sq.ft. store at Park Meadows Mall in Denver, CO. It is the company's first store in CO.

Planet Hollywood (206-287-0001) recently opened a unit in Moscow, Russia, the company's 41st restaurant worldwide. Additional openings are being planned for Amsterdam and Disneyland Paris. The company also recently opened a restaurant in Toronto, Ontario and is planning to open a unit in Vancouver, British Columbia next month.

U.S. Factory Outlets (212-563-3650) recently opened a 44,000 sq.ft. store at Factory Stores of America in Tupelo, MS.

Albertson's, Inc. (208-385-6200) recently opened a 26,200 sq.ft. supermarket in Riverton, UT. The store was acquired from Gorman Foods, Inc. The company plans to open a 51,000 sq.ft. supermarket at Ridgeview Plaza Shopping Center in Bakersfield, CA during late Spring 1997.

Boston Chicken, Inc. (303-384-5172) recently announced that BCE West, L.P., its Boston Market area developer for CO, AZ, NV, NM, UT and WY, plans to open 160 restaurants in the coming six years. Currently, BCE West has 56 restaurants in the above six states. In addition, the company announced that BC Northwest, L.P., its area developer of units in WA, OR, ID and MT plans to open five stores in Boise, ID by the beginning of 1998.

Einstein/Noah Bagel Corp. (303-202-3326) recently signed an area development agreement with Lone Star Bagels, L.P. to develop more than 100 Einstein Bros. Bagel units in the Dallas-Fort Worth, Houston and Austin, TX areas in the coming five years.

Stoico Restaurant Group (316-636-5776) plans to open two Spaghetti Jack's restaurants on the Peninsula in VA during late winter/early spring 1997. The company is also looking for locations in Greenbrier and Lynnhaven, VA. The company currently operates 15 locations in KS, MO, OK and SD with sites being developed in TN and TX.

Discovery Channel (301-986-1999) plans to open a Discovery Channel Destination store at Sony Retail Entertainment's Yerba Buena Gardens complex in San Francisco, CA.

Circuit City Stores, Inc. (804-527-4000) recently opened a CarMax unit in Orlando, FL. The company plans to open 10 units in Miami and Tampa, FL; Dallas-Fort Worth and Houston, TX; Atlanta, GA; Baltimore, MD-Washington, D.C.; Tidewater, VA; Chicago, IL and Los Angeles and San Francisco, CA next year. Future plans call for the opening of 80 to 90 units in 45 of nation's top 50 markets by 2001.

Hallmark Showcase Stores Exceed Performance Projections

Hallmark Cards, Inc. exceeded performance projections for its 24-unit chain of Hallmark Showcase stores. The concept debuted in 1992 and now operates in the states of AZ, CA, CO, GA, KS, MO, NV, OH, PA, TX, VA and WA. Elements that make Hallmark Showcase stores different from traditional card stores include a larger format of 6,000 sq.ft. to 8,000 sq.ft., with 6,500 sq.ft. to 7,500 sq.ft. being optimum, in addition to offering a merchandise mix supplemented by non-Hallmark branded goods, and in-store areas for customers to write and mail cards and a Kid's Corner featuring creative projects, crayons and videos to watch. Other differentiating components are one-of-a-kind personalized gift baskets, balloons, gift wrapping, novelty packaging, invitation imprinting, mailing and shipping services. Gift items are also substantially represented in the merchandise mix, with the addition of home decor items, gourmet coffees, teas, throws, framed prints, windsocks and plush toys. The larger format allows for wider aisles and the use of shopping carts and strollers. Known for its high-level of customer service and name recognition, with a $175 million annual print and television advertising budget, Hallmark also offers its Hallmark Gold Crown card consumer rewards program in the Showcase stores.

Hallmark brought in retail designers who are specialists at consumer behavior research, and results showed that 87% of the customers with children participating in Hallmark's Kids' Corner stayed 44 minutes, which is longer than its other shoppers. Additional insight from the consumer study on the Showcase concept showed that in excess of 70% of the customers are categorized as professional, more than 60% are homeowners and the majority are under 35 years of age with families.

Hallmark Showcase stores locate in strip and power centers. Expansion plans call for 20 to 40 openings during 1997, with growth taking place nationwide. The site selection criteria entails a minimum of five parking spaces per every 1,000 sq.ft. of GLA, an area having high traffic counts and a growing economy. Demographic requirements include a population count of at least 50,000 in a three-mile radius with $40,000 as the average household income. The stores cater to young families with a good education level and a strong earning capacity.

Some of the Hallmark Showcase store currently open and operating include locations at North Valley Power Center, a 105,785 sq.ft. four-year old project anchored by Target and Ross Dress For Less in Peoria, AZ; Vacaville Commons, a 389,000 sq.ft., four-year old project anchored by Mervyn's, Target, Petco, Ross Dress For Less and Safeway in Vacaville, CA; Mansell Crossing, a 439,994 sq.ft. project anchored by AMC Theaters, Barnes & Noble Superstore, Kids 'R Us, Michaels, OfficeMax, Service Merchandise, Sports Authority, T.J. Maxx, Toys 'R Us and Uptons in Alpharetta, GA; Great Hills Market, a 125,000 sq.ft., two-year old project anchored by Bed Bath & Beyond and Borders Books & Music in Austin, TX; University Park Village, a 173,409 sq.ft., six-year old center anchored by Ann Taylor, Barnes & Noble Superstore, Bath & Body Works, Express, Gap, Harold's, Limited Too, Mimi Maternity, Pappagallo, Pottery Barn, Structure, Talbot's, Victoria's Secret and Williams Sonoma in Ft. Worth, TX; Independence Commons, a 381,000 sq.ft. one-year old center anchored by AMC Theaters, Bed Bath & Beyond, Kohl's and Marshalls in Independence, MO and in Fairfax, VA, the Kamp Washington Shopping Center encompassing 70,825 sq.ft. with Giant Food and Rite Aid serving as anchors.

Future Hallmark Showcase stores will be corporately owned and operated, with Hallmark Cards, Inc., a $3.4 billion company, as the guarantor on leases. Hallmark and its retailers control the leases on over 20 million sq.ft. of retail space in shopping centers across the nation. Hallmark Showcase stores are conservatively projected to have a first-year sales of $1 million per unit or sales of approximately $167 per sq.ft.

For more information, contact your local Hallmark real estate representative or call (816-274-8431), Fax (274-5061).

Buyers & Sellers of Commercial Properties

Metro Commercial Real Estate, Inc. negotiated the purchase of six sites for Children's World Learning Centers in OH and VA. The sites include: two 7,800 sq.ft. facilities formerly operated by Thank Heavens Children's Center in Blue Ash, OH and Pisgah, OH; a 0.9 acre undeveloped parcel in Tylersville, OH; a 1.6 acre site in Miami Township, OH; a 1.8 acre site in Fredericksburg, VA and a 0.9 acre site in Garrisonville, VA. The company also brokered the sale of five acres of land in Philadelphia, PA to Rite Aid Corp. Rite Aid plans to construct a drug store on the site.

For more information, contact Mark Gerlach (Children's World Learning Centers) or Rob Cooper and Trupert Ortlieb (Rite Aid) at (609-866-1900).

Roberts Equity is in the market to acquire shopping centers in the metropolitan NY and NJ area. Properties of interest have asking prices between $4 million and $10 million.

For more information, contact Rick Greenberg at (212-734-0500), Fax (628-0809).

Glimcher Realty Trust recently closed on its purchase of 22 shopping centers from Retail Property, Inc. The Wal*Mart anchored projects, encompassing 4.4 million sq.ft., include: Village Plaza in Augusta, GA; Artesian Square in Martinsville, IN; Audubon Village in Henderson, KY; Barren River Plaza in Glasgow, KY; Logan Plaza in Russellville, KY; Cypress Bay in Morehead, NC; Lexington Parkway in Lexington, NC; Southside Plaza in Sanford, NC; Applewood Village in Fremont, OH; Cross Creek in Beauforth, SC; East Pointe Plaza in Columbia, SC; Franklin Square in Spartansburg, SC; Marion Towne Center in Marion, SC; Piedmont Plaza in Greenwood, SC; Walterboro Plaza in Walterboro, SC; Crossroads Centre in Knoxville, TN; Cumberland Crossing in LaFollette, TN; Roane County Plaza in Rockwood, TN; Sycamore Square in Ashland City, TN; College Plaza in Bluefield, VA; Aviation Plaza in Oshkosh, WI and Crossing Meadows Plaza in Onalaska, WI. The purchase price for the portfolio was $197 million.

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

CB Commercial Real Estate Group, Inc. brokered the sale of Atlantic Square in Monterey Park, CA. The 208,000 sq.ft. project is anchored by Ralphs, Thrifty Drug, Big 5 Sporting Goods, Blockbuster Music and Clothestime. The center was sold to GMS Realty by SAL Investments for $33.85 million. The company also brokered the sale of Eastgate Shopping Center in Garden Grove, CA. The project was sold by The Sasaki Family Partnership to Kelswann, Inc. for $3.7 million.

For more information, contact Mike Burke (Atlantic Square) at (310-516-2354) or Jeff Cyr (Eastgate Shopping Center) at (714-725-8537).

Bruno's, Inc. plans to sell 42 of its supermarkets, trading as Piggly Wiggly and FoodMax, in GA and SC. The company is selling the stores to reduce costs and improve system efficiencies.

For more information, contact Lisa Kranc at (205-912-4432).

The Carlton Group, Ltd. and LaSalle Partners will conduct an auction of 56 surplus land and retail sites owned by Shell Oil Company. All of the sites were either former petroleum stations or land-bank investments that were not developed. The properties, which range in value from $50,000 to $2.5 million are located throughout the U.S., with a concentration of sites located in CA, FL, IL, LA, MA, IN, KY, MO, NJ, OH, TN and WA. The properties will be offered in a sealed bid format with bids due at The Carlton Group's offices by Wednesday, December 4, 5 p.m. EST. Bids for OH properties are due at LaSalle Partners' offices by the same date, 5 p.m. CST.

For more information, contact The Carlton Group at 1-800-418-2100).

Butler Commercial Realty has the listing to sell Jacksboro Kmart Shopping Center in Fort Worth, TX. The 173,583 sq.ft. project is anchored by Kroger, Pizza Hut, Chicken Express and a vacant 116,805 sq.ft. former Kmart building. The asking price is $4.3 million. The company also recently acquired a 4.69 acre development tract in southwestern Fort Worth, TX. Pads and build-to-suit opportunities are available in the $4 to $7 psf range.

For more information, contact Denwood Butler at (817-735-8486, Fax 4543).

The Levey Companies, Inc. has the listing to sell Forest Glen Shopping Center in Hamilton, NJ. The 17,000 sq.ft. project has an net operating income of $186,000.

For more information, contact The Levey Companies at (201-533-1100).

Lease Signings

MJB Real Estate Services Corp. (203-222-6200) leased 3,000 sq.ft. to D.B. Willis & Company for a carpet and flooring retail store in Wallingford, CT; 8,000 sq.ft. to Western Auto at New Brite Plaza in New Britain, CT; 1,284 sq.ft. to Women's Health Boutique at Birchwood Corners in Westport, CT and 5,500 sq.ft. to Little Blessings at Westport Shopping Center in Westport, CT.

Capital Realty Advisors, Inc. (407-744-1088) leased 1,400 sq.ft. to Calagaz 1-Hour Photo at Magnolia Place Shopping Center in Daphne, AL; 1,100 sq.ft. to Carson City Florist and 1,050 sq.ft. to Carson Vacuum & Sewing at Plaza 50 Shopping Center in Carson City, NV; 2,100 sq.ft. to Consolidated Minerals at Southside Shopping Center in Leesburg, FL; 3,312 sq.ft. to Geraghty & Miller at Sandtree Plaza in Palm Beach Gardens, FL; 1,200 sq.ft. to G&G Sportswear and 2,725 sq.ft. to Heirloom Gardens at The Village Shopping Center in Austin, TX.

T.R.I. Berman Development Company (609-895-1998) leased 2,514 sq.ft. to Payless ShoeSource and 1,500 sq.ft. to The Mail and Office Box at Roebling Market in Trenton, NJ.

Mid-America Asset Management Co. (630-954-7300) leased 1,300 sq.ft. to Lou Malnati's Pizza at Red Top Plaza in Libertyville, IL; 1,408 sq.ft. to Hair Cuttery at Civic Center Plaza in Niles, IL; three 25,000 sq.ft. spaces to The Container Store in Oak Brook, IL; Northbrook, IL and Schaumburg, IL; 5,100 sq.ft. to SpinCycle, Inc. in Chicago, IL; 1,219 sq.ft. to Cigarettes Cheaper at Prairie Town Center in Schaumburg, IL; 1,620 sq.ft. to General Nutrition Corp. at North Park Mall in Villa Park, IL; 1,440 sq.ft. to Pizza Hut at Brentwood Commons in Bensenville, IL; 11,200 sq.ft. to Party City at Northpoint Shopping Center in Arlington Heights, IL and 12,000 sq.ft. to Party City in Chicago Ridge, IL.

CBL & Associates Properties, Inc. (423-855-0001) leased 690 sq.ft. to Annie's Center Stage, 1,546 sq.ft. to Lemstone Books, 4,941 sq.ft. to Paul Harris, 1,280 sq.ft. to Wicks 'N Sticks, 1,541 sq.ft. to 5-7-9, 4,323 sq.ft. to FootAction and 3,722 sq.ft. to Footlocker at Westgate Mall in Spartanburg, SC. The company also leased 33,403 sq.ft. to Goody's Family Clothing at Foothills Mall in Maryville, TN.

422 Development, Inc. (610-768-2950) leased 9,600 sq.ft. to PAWS Discount Pet Food at Trappe Center in Montgomery County, PA.

Sansone Group (314-727-6664) leased 1,680 sq.ft. to Remedy Staffing and 2,747 sq.ft. to U.S. $1.75 Cleaners at Ronnie's Plaza in St. Louis, MO and 2,100 sq.ft. to Sylvan Learning Center at Hilltop Village in Eureka, MO.

Metro Commercial Real Estate (609-866-1900) leased 16,198 sq.ft. to Sneaker Stadium at Nassau Park Shopping Center in Princeton, NJ and 53,000 sq.ft. to HomePlace at Warminster Town Center in Warminster, PA.

Butler Commercial Realty (817-735-8486) leased 2,132 sq.ft. to Bruegger's Bagels in the Camp Bowie retail area of Fort Worth, TX.

Goldstein Realty Group, Inc. (904-348-3900) leased 7,975 sq.ft. to Davids Bridal, 4,008 sq.ft. to China Buffet, 2,507 sq.ft. to AT&T Wireless Services, 3,005 sq.ft. to Ladies Suits Etc., 2,507 sq.ft. to Jenny Craig Weight Loss Centers and 1,600 sq.ft. to Princess Nails at Regency Park Shopping Center in Jacksonville, FL; 8,000 sq.ft. to Pet Supplies Plus in Orange Park, FL; 9,000 sq.ft. to Pet Supplies Plus, 8,000 sq.ft. to Party City and 1,400 sq.ft. to Saturday's Family Hair Care at Claire Lane Plaza in Jacksonville, FL; 1,750 sq.ft. to Jazzercise, 6,250 sq.ft. to Sessions Modeling, 1,400 sq.ft. to Larry's Giant Subs and 1,500 sq.ft. to Bell South Mobility at Mardarin Corners Shopping Center in Jacksonville, FL; 2,400 sq.ft. to Larry's Giant Subs at Atlantic Village Plaza in Atlantic Beach, FL; 1,200 sq.ft. to Larry's Giant Subs at Merchant's Walk Plaza in Jacksonville, FL; 1,800 sq.ft. to Larry's Giant Subs at Venetia Village Shopping Center in Jacksonville, FL; 2,000 sq.ft. to Furniture Medic at River City Center in Jacksonville, FL and 1,200 sq.ft. to Weight Watchers, 1,297 sq.ft. to Team Diner and 1,297 sq.ft. to Jaguar Technologies at Michael's Plaza in Orange Park, FL.

CB Commercial Real Estate (714-939-2209) leased 2,040 sq.ft. to Radio Shack at Crossroads Center in Anaheim Hills, CA.

Exclusives: Leasing & Management Assignments

The Mitchell Company (334-476-1200) has been awarded the management and leasing contract for Carriage Town Shopping Center in Mobile, AL. The 70,000 sq.ft. project is anchored by Winn-Dixie.

West Venture Commercial (818-567-3100) has been awarded the management and leasing contract by OCWEN Federal Bank for Gateway Plaza in Gardena, CA. The 65,000 sq.ft. project contains a mix of retail, restaurants and office space.

Urban Retail Properties Co. (312-915-3568) has been named the managing, leasing, marketing and developing agent for Carousel Mall in San Bernadino, CA; Woburn Mall in Woburn, MA; and Capetown Plaza in Hyannis, MA. The 971,000 sq.ft. Carousel Mall is anchored by Harris Company, J.C. Penney and Montgomery Ward. The 237,000 sq.ft. Woburn Mall is anchored by Lechmere and Market Basket. The 233,000 sq.ft. Capetown Plaza is anchored by Kmart and Filene's Basement.

Schultz Brokerage Services Group (908-855-0001) has been appointed the exclusive broker for Lakewood Shopping Plaza in Lakewood, NJ by ARC Properties. The 195,000 sq.ft. project is anchored by Staples, ShopRite and R&S Straus. Approximately 8,000 sq.ft. of space, which can be divided, is available for lease.

Sigma National, Inc. (804-320-6100) is the exclusive leasing agent for Columbiana Station Shopping Center, which is being developed in Columbia, SC. The 300,000 sq.ft. project will be anchored by a supermarket, a fashion department store, a movie theater, a home superstore, a furniture superstore, a sporting goods superstore and a linen superstore. Anchor and retail spaces from 15,000 sq.ft. to 150,000 sq.ft. are available. Phase I of the project is expected to open during Summer 1997.

Lanard & Axilbund Colliers (215-925-4600) has been appointed by Staples, Inc. as its exclusive respresentative for the acquisition of distribution facilities.

Real Estate Professionals Making The News

Don M. Casto Organization (614-228-5331) announces that Steven D. Friedman recently returned to the company as a leasing representative.

Brown Harris Stevens Commercial Services Division (212-508-7200) announces that Thomas Emma, Sr. has joined the company as executive director and that William Iacovelli has been appointed associate director.

Koll (407-236-9746) announces that Bill Jones has opened a central FL office.

Summit Realty Leasing and Management Corporation (407-368-2043) announces that Frank J. Gulisano, president, has been awarded the Certified Commercial Investment Member designation by the Commercial Investment Real Estate Institute.

Grubb & Ellis (619-283-1303) announces that Curtis J. Stephenson has been appointed senior vice president and district manager for all of the company's operations in San Diego County, including offices in Mission Valley and Carlsbad.

The Polacheck Company, Inc. (414-273-0880) announces that Kevin Armstrong has been promoted to vice president.

Equity Properties, Inc. (610-645-7700) announces that Richard D. Weitzman and Allan D. Neibart have joined the company as commercial retail specialists.

Rappaport Management Company (703-205-6465) announces that Jacqueline T. St. Martin as a leasing representative. She will be responsible for shopping center leasing at Penn Mar Shopping Center in Forestville, MD and Potomac Festival in Woodbridge, VA.

Towle Real Estate Company/Colliers International (612-337-2466) announces that Michael Houge and Keith Sturm have joined the company as senior sales associates.

Quality Dining, Inc. (219-271-4600) announces the appointment of Clark Knippers as senior vide president of real estate and development. Knippers will direct development of Bruegger's Bagel Bakery.

First Union Management, Inc. (216-781-4030) announces the appointment of Kenneth H. Lokiec to the position of vice president-retail operations. In this position, he will be responsible for the operations of the company's retail properties.

Lead Sheet

American Eagle Outfitters, Inc.

dba American Eagle Outfitters

Bill Matsko

150 Thorn Hill Drive

Warrendale, PA 15095

412-776-4857, Fax 779-5580

Apparel

The 276-unit chain operates locations nationwide. The stores, selling men's and women's play wear, occupy spaces of 4,200 sq.ft. in regional malls. Growth opportunities are sought nationwide.

TVI, Inc.

dba Value Village

Walter Scott

11400 SE Sixth Street, Suite 220

Bellevue, WA 98004

206-450-2327, Fax 451-2250

Apparel

The 127-unit chain operates locations in 16 states and Canadian provinces. The stores, offering new and used merchandise while carrying a large assortment of clothing for the family as well as furniture and household items, occupy spaces of 15,000 sq.ft. to 25,000 sq.ft. in freestanding facilities, power and strip centers. Plans call for 70 openings within the next four years. Expansion will take place throughout North America and in Australia.

Provo Craft

dba Roberts Arts & Crafts

Patricia Norris

1400 East Eighth Street

Hays, KS 67601

913-628-1048, Fax 628-1049

Arts & Crafts

The seven-unit chain operates locations in ID, KS, NE and UT. The arts and crafts stores occupy spaces of 25,000 sq.ft. in strip centers. Plans call for one opening in the coming 18 months. Expansion will take place in either ID, NV or UT. Preferred demographics include a population of 100,000 within 10 miles earning $35,000 as the average income. The company cites Michaels Arts & Crafts and Mac's Arts & Crafts as competition.

The Goodyear Tire & Rubber Co.

dba Goodyear Auto Service Centers

Lucinda Weiss

1144 East Market Street

Akron, OH 44316

330-796-1313, Fax 796-1931

Automotive

The 800-unit chain operates locations nationwide. The automotive service centers occupy spaces of 5,000 sq.ft. in a variety of real estate settings. Service bays are a must. Growth opportunities are sought nationwide.

Hahn Automotive

dba Autoworks & Advantage

David Beckerman

415 West Main Street

Rochester, NY 14608

716-464-3812, Fax 235-3108

Automotive

The 233-unit chain operates locations in NJ, NY, VA, NC, PA, OH, IN, IL, MI, WV and KY. The automotive parts stores occupy spaces of 5,400 sq.ft. in freestanding facilities. Growth opportunities are sought in the existing markets.

Crown Books, Inc.

dba Crown, Super Crown

Steve Stevens

3300 75th Avenue

Landover, MD 20785

301-731-1200, Fax 731-1524

Books

The company operates 75 Super Crown bookstores and 110 Crown bookstores in CA, IL, MD, TX, VA and WA. The stores, selling books at discount price-points, occupy spaces of 15,000 sq.ft. in freestanding facilities and strip centers. Plans call for 30 openings in the coming 18 months. Expansion will take place in CA, IL, WA and Washington, D.C.

Feather Petroleum Co.

dba Stop-N-Save

Larry Feather

2492 Industrial Boulevard

Grand Junction, CO 81505

970-242-5205, Fax 245-8093

Convenience Store

The 10-unit chain operates locations in CO. The convenience stores occupy spaces of 800 sq.ft. to 2,400 sq.ft. in freestanding facilities. Plans call for as many as two openings in the coming 18 months. Expansion will take place in the existing market. The company is seeking spaces running 2,400 sq.ft. for its new stores.

The Pantry

John Hearne

1801 Douglas Drive

Sanford, NC 27330

919-774-6700, Fax 776-1813

Convenience Store

The 389-unit chain operates locations in KY, IN, NC, SC and TN. The convenience stores occupy spaces of 2,400 sq.ft. to 3,200 sq.ft. in freestanding facilities. Plans call for as many as 15 openings per year. Expansion will take place in the existing markets.

Estee Lauder

dba Origins Natural Resources

c/o Michael Riney

Michael Riney, Inc.

888 Worchester Boulevard

Wellesley, MA 02181-3717

617-235-9525

Cosmetics

The 21-unit chain operates locations nationwide. The cosmetic stores occupy spaces of 400 sq.ft. to 1,100 sq.ft. in downtown store fronts, freestanding facilities and regional malls. Plans call for as many as 10 openings in the coming 18 months. Expansion will take place nationwide.

C.R. Anthony Co.

dba Anthonys

Gary Newgent

701 North Broadway

Oklahoma City, OK 73102

405-278-7435, Fax 278-7592

Department Store

The 230-unit chain operates locations in AR, AZ, CO, KS, LA, MO, MT, NM, OK, TX, WY, SD, ND, IA, MN and TN. The stores, selling apparel, occupy spaces of 6,000 sq.ft. to 9,000 sq.ft. in downtown store fronts and strip centers. Plans call for more than 60 openings in the coming two years. Expansion will take place in SD, ND, TN, KY, KS, NE, MN, AL, MI, MS, WI, ID, IL, FL, OH, NC and SC. The company prefers to locate its stores in towns having populations running between 3,000 and 12,000 and 30 minutes from major competitors.

Sony Retail Group

dba Sony Theaters

Kenneth Benjamin

711 Fifth Avenue

New York, NY 10022

212-833-6160, Fax 833-6267

Entertainment

The 175-unit chain operates locations in CT, NY, MA, NJ, OH, IL, IN, PA, MD, VA, KY and TX. The movie theaters occupy spaces of 62,500 sq.ft. in freestanding facilities, regional malls, power and strip centers. Growth opportunities are sought in major urban areas throughout the existing markets.

Horton & Converse Pharmacies

Keith Lumpkin

1617 Westcliff Drive #121

Newport Beach, CA 92660

714-645-6670, Fax 645-1903

Drug Store

The 14-unit chain operates locations in CA. The drug stores occupy spaces of 1,200 sq.ft. to 5,000 sq.ft. in regional malls. Plans call for as many as two openings in the coming 18 months. Expansion will take place in the existing market. Leases running three to five years are typical.

Americuts Franchise Systems

dba Americuts

Michael Perrone

41 Durant Avenue, Suite 103

Bethel, CT 08601

203-792-9955, Fax 792-3990

Hair Salon

The two-unit chain operates locations in CT and MI. The family barber shops occupy spaces of 1,000 sq.ft. to 2,000 sq.ft. in a variety of real estate settings. Growth opportunities are sought nationwide. The company is franchising.

Anna's Linens

Alan Gladstone

3710 S. Susan, Suite 150

Santa Ana, CA 92704

714-850-0504, Fax 850-9170

Home Decor

The 30-unit chain operates locations in CA. The stores, selling bed and bath accessories and linens, occupy spaces of 5,000 sq.ft. in downtown store fronts, regional malls and strip centers. Plans call for 15 openings in the coming 18 months. Expansion will take place in the Western region.

Carpet Fair, Inc.

dba Carpet Fair, Bill's Carpet Warehouse

Rubin Schechman

7100 Rutherford Road

Baltimore, MD 21224

410-298-5800, Ext. 239, Fax 298-4849

Home Decor

The 18-unit chain operates locations in MD and VA. The stores, selling carpet, occupy spaces of 6,000 sq.ft. in freestanding facilities and strip centers. Growth opportunities are sought in the existing markets.

Aropi, Inc.

dba Rolling Pin Kitchen Emporium

Glen Kaas

4264 Winter Chapel Road

Atlanta, GA 30360

770-457-2600, Fax 457-3110

Housewares

The 37-unit chain operates locations in AL, AR, AZ, GA, FL, IL, IA, KY, LA, PA, TN and VA. The stores, selling kitchen utensils, gourmet gadgets and home decor items, occupy spaces of 1,800 sq.ft. in regional malls and strip centers. Plans call for three openings during 1996 and five openings during 1997. Expansion will take place in AL, AR, GA, FL, IA, IL, KY, LA, TN, PA and VA.

Corey's Jewelry, Inc.

dba Corey's Jewel Box, The Loop

Mark Clark

1301 Combermere

Troy, MI 48083

810-585-1848, Fax 585-4770

Jewelry

The 32-unit chain operates locations in MI and OH. The stores, selling fine jewelry, occupy kiosk and in-line spaces running 240 sq.ft. to 1,000 sq.ft. in regional malls. Growth opportunities are sought in the existing markets.

Trans World Entertainment

dba Coconuts, For Your Entertainment,

Record Town, Tape World

Bruce Eisenberg

38 Corporate Circle

Albany, NY 12203

518-452-1242, Fax 452-8179

Music

The 520-unit chain operates locations nationwide. The music stores occupy spaces of 2,700 sq.ft. to 40,000 sq.ft. in outlet centers and regional malls. Plans call for 100 openings in the coming 18 months. Expansion will take place nationwide. The company cites Musicland, Camelot, Blockbuster Music and The Wall as competition.

Paper Warehouse

Vernon Lewis

7630 Excelsior Boulevard

Minneapolis, MN 55426

612-936-1000, Fax 936-9800

Party Supplies

The 12-unit chain operates locations nationwide. The stores, selling party supplies, occupy spaces of 4,000 sq.ft. to 8,000 sq.ft. in strip centers with high-profile, major anchor stores. Plans call for as many as 40 openings in the coming 18 months. Expansion will take place nationwide. The company is franchising.

Just For Feet, Inc.

dba Just For Feet

Leslie Mayer-Radford

528 Arizona Avenue, Suite 210

Santa Monica, CA 90401

310-394-8395, Ext. 29, Fax 394-3409

Shoes

The 45-unit chain operates locations throughout the Southern region. The stores, selling athletic and outdoor footwear, occupy spaces of 15,500 sq.ft. to 16,000 sq.ft. in freestanding facilities on outparcels of major malls and power centers. Plans call for as many as 20 openings in the coming 18 months. Expansion will take place in AZ, FL, MS, NM, NV, OK, TN, TX, GA, NC, CO, NY and southern CA. Expansion into the Northeastern and Northwestern regions is planned for 1998.

Cost Plus, Inc.

dba Cost Plus World Market

Michael England

2958 Globe Avenue

Thousand Oaks, CA 91360

805-492-1010, Fax 492-2697

Specialty

The 52-unit chain operates locations in AZ, CA, CO, ID, IL, NM, OR, TX and WA. The stores, selling furniture, housewares, jewelry, decorative items, gourmet food items, teas, wines and beer, occupy spaces of 18,900 sq.ft. in freestanding facilities and strip centers. Plans call for as many as 12 openings in the coming 18 months. Expansion will take place in the existing markets.

Adventure 16, Inc.

dba Adventure 16

John Mead

4620 Alvarado Canyon Road

San Diego, CA 92120

619-283-2362, Fax 283-7956

Sporting Goods

The six-unit chain operates locations in CA. The sporting goods stores, selling outdoor gear, apparel, tents, back packs and accessories, occupy spaces of 3,000 sq.ft. to 15,000 sq.ft. in freestanding facilities. Plans call for three openings in the coming 18 months. Expansion will take place in the existing markets.

Kohl's Food Stores

dba Kohl's, Kohl's Food Emporium

Ray Waitrovich

11100 West Burleigh Street

Milwaukee, WI 53201

414-259-6750, Fax 259-6717

Supermarket

The 15-unit chain operates locations in WI. The supermarkets occupy spaces of 50,000 sq.ft. in freestanding facilities and strip centers. Plans call for four openings in the coming 18 months. Expansion will take place in the existing markets.

Space Place

California

Atascadero- Spaces from 1,000 sq.ft. to 5,000 sq.ft. are available for lease at a Kmart anchored shopping center. In Atwater- Spaces from 1,200 sq.ft. to 4,