Issue 42 for the week of November 27, 1996

The Dealmakers Issue Number 42 for the week of November 27, 1996.

Entertainment Users Seeking Sites Nationwide

Exploration Franchise Group, Inc. trades as Explorations at six locations in FL, NJ and several Middle Eastern countries. The children's entertainment and fitness facilities occupy spaces of 12,000 sq.ft. in strip centers. Preferred anchors include drug stores and supermarkets. Plans call for as may as three openings in the coming 18 months. Expansion will take place in NJ and FL. Preferred demographics include a trade area population of 200,000, 15% of which should be aged 12 or younger.

For more information, contact Dennis Richardson, Exploration Franchise Group, Inc., 902 Clintmoore Road, Suite 136; Boca Raton, FL 33487; 561-998-3435, Fax 998-3425.

Act III Theaters operates 129 locations in AK, ID, MO, NV, OR, TX and WA. The movie theaters occupy spaces of 22,000 sq.ft. to 80,000 sq.ft. in freestanding facilities. The company plans to add 171 screens in the existing markets through 1998. The company leases and purchases its sites.

For more information, contact Tim Reed, Act III Theaters, 919 S.W. Taylor #900, Portland, OR 97203; 503-221-0213, Fax 228-5032.

Electronic Experience operates six locations in CA, IL and OH. The amusement centers occupy spaces of 6,000 sq.ft. to 8,000 sq.ft. in specialty and strip centers. Preferred anchors include movie theaters, fast food restaurants and other entertainment uses. Growth opportunities are sought in the western region. Preferred demographics include a population of 100,000 within three miles earning $30,000 to $40,000 as the average income. Leases running 10 years are typical.

For more information, contact Gary Mahler, Electronic Experience, c/o Mahler & Co., PO Box 1379, Beverly Hills, CA 90213; 310-288-0055, Fax 288-0065.

R/C Theatres Management Corp. trades as R/C Theatres at 29 locations in MD, NC, PA and VA. The movie theaters occupy spaces of 53,000 sq.ft. to 65,000 sq.ft. in freestanding facilities and regional malls. Growth opportunities are sought in the existing markets.

For more information, contact Irwin Cohen, R/C/ Theatres Management Corp., 231 West Cherry Hill Court, Reistertown, MD 21136; 410-526-4774, Fax 526-6871.

Mountasia Entertainment International operates 44 locations nationwide. The concept, offering miniature golf, bumper boats, batting cages, go kart rides and a game room, occupies freestanding facilities on six to 12 acres of land. Plans call for 15 openings throughout North America and as many as eight openings throughout Europe in the coming 18 months. Preferred demographics include a population of 300,000 within 10 miles earning $40,000 as the average income and the company prefers to own its locations.

For more information, contact Gene Eisenberg, Mountasia Entertainment International, c/o Entertainment Realty, 1111 Alderman Drive, Building 200, Alpharetta, GA 30202; 404-663-1280, Fax 663-1284.

Food Tenants Hungry for Sites Nationwide

Carrabba's Italian Grill, Inc. trades as Carrabba's Italian Grill at 31 locations in CO, FL, GA, NJ, NC and TX. The Italian restaurants occupy freestanding facilities on land areas running 62,000 sq.ft. Growth opportunities are sought in the existing markets.

For more information, contact Carl Sahlsten, Carrabba's Italian Grill, Inc., 405 North Reo Street, Suite 210, Tampa, FL 33609; 813-288-8286, Fax 288-1779.

Einstein/Noah Bagel Corp. does business as Einstein Brothers Bagels at 53 locations in AZ, CA, CO, FL, KS, MO, UT, IL, MI, IN, MD, NJ, NM, NV, NJ, PA and VA. The bagel stores occupy spaces of 2,200 sq.ft. in freestanding facilities and strip centers. Preferred anchors include drug stores, supermarkets, video stores, dry cleaners and health clubs. Heavy morning, afternoon and weekend traffic is also preferred. Plans call for more than 200 openings before the end of the year.

For more information, contact Kathy Hulligan, Einstein/Noah Bagel Corp., 1526 Cole Boulevard, Suite 200, Golden, CO 80401; 303-202-3323, Fax 202-3360.

Quizno's Corporation trades as Quizno's Classic Subs at more than 130 locations nationwide. The casual deli-style restaurants occupy spaces of 1,200 sq.ft. to 1,600 sq.ft. in freestanding facilities and strip centers. Growth opportunities are sought nationwide. The company is franchising.

For more information, contact Ron Feldman, Quizno's Corporation, 7555 East Hampden Avenue, Suite 601, Denver, CO 80231; 303-368-9424, Fax 368-9454.

Restaurant Systems International trades as Bananas Ultimate Juice Bar at 108 locations nationwide. The concept, offering specialty juice drinks, occupy spaces of 300 sq.ft. to 500 sq.ft. in regional malls and kiosk locations. Plans call for 10 openings in the coming 18 months. Expansion will take place nationwide.

The company also trades as Gretel's Pretzels at nine locations in CA, NJ, NY, PA, TX and Brazil. The stores, offering fresh baked handrolled pretzels and drinks, occupy spaces of 300 sq.ft. to 500 sq.ft. in regional malls. Plans call for 10 openings in the coming 18 months. Expansion will take place nationwide.

For more information, contact Sam Stein, Restaurant Systems International, 1000 South Avenue, Staten Island, NY 10314-3403; 718-494-8888, Fax 494-8776.

Ruth's Chris Steak House, Inc. trades as Ruth's Chris Steak House at more than 50 locations nationwide. The white tablecloth steak houses occupy spaces of 6,500 sq.ft. to 8,000 sq.ft. in freestanding facilities and strip centers. Growth opportunities are sought nationwide.

For more information, contact Ruth Belsky, Ruth's Chris Steak House, Inc., 3321 Hessmer Avenue, Metairie, LA 70002; 504-454-9042, Fax 454-9060.

Rocky Mountain Chocolate Factory operates 165 locations nationwide. The stores, selling chocolate, candy and nuts, occupy spaces of 800 sq.ft. to 1,200 sq.ft. in regional malls, outlet and specialty centers. Plans call for 25 openings in the coming 18 months. Expansion will take place nationwide.

For more information, contact Franklin Crail, Rocky Mountain Chocolate Factory, 265 Turner Drive, Durango, CO 81301; 970-259-0554, Fax 259-5895.

Who's Opening and Where...

Volunteer Capital Corporation (615-269-1900) plans to build a J. Alexander restaurant near Centennial Promenade and Park Meadows Mall in Denver, CO and a J. Alexander restaurant in Tampa, FL during Spring 1997.

Federated Department Stores (513-579-7900) recently opened Bloomingdale's first west coast location when it opened a store at Stanford Shopping Center in Stanford, CA. The company plans to open four more Bloomingdale's stores in southern CA.

Hooters (770-951-2040) plans to open its first restaurant in the Northwest next month when it opens a unit in Lynnwood, WA.

Casa Ole Restaurants, Inc. (713-943-7574) recently opened a 4,200 sq.ft., 196-seat company-owned restaurant in Temple, TX. It is the company's first company-owned unit opening since 1989. Overall, the company operates 15 company-owned units and franchises 27 units in LA and TX.

Linens 'N Things (914-925-4321) recently opened a 35,000 sq.ft. store at Marketplace at River Park in Fresno, CA.

Kmart (810-643-1000) plans to open an 86,000 sq.ft. store at a former Wal*Mart location at Citadel Crossing Shopping Center in Colorado Springs, CO. Wal*Mart closed the store in June and opened a 200,000 sq.ft. supercenter nearby.

PetsMart (602-944-7070) recently opened a 28,000 sq.ft. store in Southfield, MI and is planning to open 11 more stores in the Detroit metropolitan area in the coming six months.

Store Closings

Neostar Retail Group (612-893-7801), which is operating under Chapter 11 protection, plans to close 42 of its stores nationwide, leaving it with 665 stores trading as Babbage's and Software Etc. The company plans to review all of its remaining stores after the holiday season.

The Italian Oven, Inc. (412-537-5380), which is operating under Chapter 11 protection, recently closed two company-owned restaurants in Pittsburgh, PA. The company continues to operate 92 units, 73 of which are franchises, in 17 states and Australia.

Lease Signings

Herbert Yentis & Company, Inc. (215-878-7300) leased space to Mail Boxes, Etc. at Caln Village Shopping Center in Downingtown, PA; Frazer Antiques in Frazer, PA; Hot Shoes at Bustleton-Somerton Shopping Center in Philadelphia, PA; Art Effects Gallery in Merion, PA; Kid to Kid at Township Line Shopping Center in Drexel Hill, PA and Kid to Kid at Haverford Avenue Shoppes in Philadelphia, PA.

The Hutensky Group (860-527-2222) leased 9,100 sq.ft. to K-B Toy Works at Rogers Plaza in Wyoming, MI.

United Commercial Realty (214-526-6262) leased 38,217 sq.ft. to Gold's Gym at Village Square Shopping Center in Plano, TX and 11,833 sq.ft. to Clubhouse for Kids at Ridglea West Shopping Center in Fort Worth, TX.

Feldman Equities (212-768-9010) leased 1,200 sq.ft. to Express Blinds and 1,200 sq.ft. to Mountain Fresh Water at Mountainside Plaza in Phoenix, AZ; 11,490 sq.ft. to Tutor Time at Union Hills Village in Phoenix, AZ and 1,050 sq.ft. to Little Caesars at Cobblestone Village in Tempe, AZ.

Retail Estate (305-441-2911) leased 8,500 sq.ft. to News Cafe at The Streets of Mayfair in Coconut Grove, FL.

CB Commercial Real Estate Group of Los Angeles, CA (714-725-8504) leased 12,770 sq.ft. to Ortho Mattress at McFadden Place in Santa Ana, CA.

New Regional Planning, Inc. (713-523-2929) leased 64,637 sq.ft. to Magic Johnson Theaters, 22,000 sq.ft. to Bealls Discount Center, 6,500 sq.ft. to Blockbuster Video and a 1.38 acre outparcel to Pappas BBQ at Northline Mall in Houston, TX.

AmCap Properties, Inc. (303-321-1500) leased 1,920 sq.ft. to Bruegger's Bagels and 1,200 sq.ft. to General Nutrition Center at Milestone Shopping Center in Castle Rock, CO; 1,186 sq.ft. to The Signature Salon at Lochwood Square in Lakewood, CO; 4,000 sq.ft. to T-Shirts Factory at Market Square in Aurora, CO and 1,024 sq.ft. to Bergen Park Shoe Haus at Marketplace at Bergen Park in Evergreen, CO.

The Galman Group (215-482-5500) leased 62,500 sq.ft. to HomePlace and 40,000 sq.ft. to Applebee's at the Pavilion in Jenkintown, PA. HomePlace will occupy the second floor and Applebee's will be located in the first floor.

Buyers & Sellers of Commercial Properties

Tecton, Inc. represented Oklawaha Farms, Inc. in its purchase of two 10,560 sq.ft. freestanding Eckerd Drug Stores in Plantation and Sun City, FL. The combined purchase price was $4.145 million.

For more information, contact Edie Laquer at (305-374-6006).

Pyramid Brokerage Company, Inc. brokered the sale of Glenwood Plaza Shopping Center in Oneida, NY. The 218,635 sq.ft. project was sold by Travelers Insurance Company to Oneida Glenwood Associates. The property was listed for $9.5 million.

For more information, contact Joyce Mawhinney MacKnight at (315-445-8514).

The Hutensky Group represented Crown Life Insurance Co. in its sale of Portland Plaza in Portland, CT. The 46,927 sq.ft. project is anchored by Tri-Town Foods and Family Dollar. The site was sold to an investor group organized by Woodgreen Management, and represented by First Whitney Group, for $1.8 million.

For more information, contact Veronique Longo at (860-527-2222).

LandBank, Inc. is in the market to acquire properties with significant environmental issues across the U.S. and Canada. The company is capable of acquiring financing, remediating, underwriting and insuring these assets, thereby removing all financial liabilities for clean up and damages. The company can also structure acquisitions, JVs or sale/leasebacks. Preferred properties are valued in the $2 million to $40 million range (based upon market value if the property had no environmental issues). The company will acquire single assets or portfolios, vacant or occupied sites. Properties should have solid market dynamics.

For more information, contact John Degnan at (972-931-5326).

Colliers Macaulay Nicolls International brokered the sale of Westgate South in Tacoma, WA. The 46,638 sq.ft. project was sold for $6.02 million. The company brokered the sale of Columbia Square in Kennewick, WA. The 102,794 sq.ft. project was sold for $5.35 million. The company brokered the sale of a Boston Market restaurant in Redmond, WA for $840,000 and the company also brokered the sale of a Skippers restaurant in Kent, WA for $475,000.

For more information, contact J. Terry Moss or Paul Sleeth at (206-223-0866).

Jeffrey Realty, Inc. has the listing to sell a 23,736 sq.ft. retail building located on Rt. 17 in Paramus, NJ. The site is anchored by Petals Factory Outlet and Boat US and has 15,237 sq.ft. available. The asking price is $4.8 million.

For more information, contact Jeffrey Realty at (908-668-9600), Fax (668-5225).

Prime Retail, Inc. recently acquired Rocky Mountain Factory Stores in Loveland, CO and Kansas City Factory Outlets in Odessa, MO from JMJ Properties, Inc. for a total purchase price of $71.3 million. Rocky Mountain Factory Stores contains 328,000 sq.ft. of GLA and is 100% occupied. Kansas City Factory Outlets contains 191,000 sq.ft. of GLA and is 99% occupied. The company also acquired Fru-Con Projects, Inc. 50% interest and first mortgage in Grove City Factory Shops in Grove City, PA to give Prime Retail 100% interest in the project. The 533,000 sq.ft. project was acquired for $56 million.

For more information, contact Robert Mulreaney at (410-234-0782).

BlockRock Realty Advisors, Inc. represented Crown Centre Partners in its sale of Crown Centre Plaza in Orange City, FL. The 201,571 sq.ft. project, which is anchored by Wal*Mart (which owns its land and building and was not included in the sale), Publix and Beall's was sold to Sun Life Assurance Company of Canada for $10.45 million.

For more information, contact Casey Rosen or Dennis Carson at (305-857-3444), Fax (854-7468).

Federal Realty Investment Trust recently acquired Wynnewood Shopping Center in Wynnewood, PA for $20.9 million in cash. The 254,000 sq.ft. project is anchored by a 23,000 sq.ft. Food Fare grocery store. A vacant 156,000 sq.ft. former John Wannamakers department store and a vacant 33,500 sq.ft. former Coat Gallery store are available for lease.

For more information, contact Robert Wennett at (301-998-8308).

Sentry Commercial Real Estate Services, Inc. has the listing to sell a 20,626 sq.ft. retail/office complex in Storrs, CT. The project contains 13 tenants with a 930 sq.ft. vacancy. The asking price is $1.15 million.

For more information, contact Curt Gemme or Mark Polon at (860-528-0884).

Exclusives: Leasing & Management Assignments

Metro Commercial Real Estate, Inc. (609-866-1900) has been named the exclusive leasing agent for Anchorage Square in Toms River, NJ. The 23,200 sq.ft. project is anchored by Berkeley Seafood House, a popular local restaurant. The company was also named the exclusive leasing agent for Union Square Shopping Center in Middletown, NJ. The 150,000 sq.ft. project is anchored by Bass Shoes, Van Heusen and Redheads Restaurant.

Michael Salove Company (610-664-8100) has been named the exclusive tenant representative for Hollywood Entertainment Corporation for its site selection in Philadelphia, PA; southeastern PA and southern NJ. Michael Salove Company is seeking either end-cap or freestanding 6,000 sq.ft. to 10,000 sq.ft. locations. Sites must be in high-traffic locations with supermarket or other convenience-oriented neighboring tenants. Hollywood Entertainment operates more than 450 Hollywood Video stores nationwide.

Excess Space Disposition, Inc. (212-338-0575) has been named the exclusive agent for the disposition of approximately 60 surplus sites for J. Baker, Inc. The company has also recently expanded their client list to include Winn-Dixie, Manchu Wok, Service Merchandise, Farm Fresh, Levitz Furniture and Filene's Basement.

First Development Corporation (516-234-3200) has been retained as the exclusive agent to represent Liberty Foods, the area developer of Einstein Bros. Bagels in the New York metropolitan area. Liberty Food currently operates 10 stores with an additional 23 sites under negotiation. 200 store openings are planned for the coming three years and the company is seeking 1,000 sq.ft. to 2,400 sq.ft. sites in active downtowns and regional, community and neighborhood shopping districts.

Island Associates Real Estate, Inc. (516-587-5050) has been awarded the exclusive leasing contract for a 10,000 sq.ft. strip center in Bellmore, NY.

Financial News...

The Dress Barn, Inc. (914-369-4600) reported that its fiscal first quarter sales increased four percent to $142.8 million from $137.4 million. Comparable store sales increased two percent. The company currently operates 728 women's apparel stores in 43 states.

Aaron Rents, Inc. (404-231-0011) reported that its third quarter revenues increased to $71.2 million from $59 million last year. Net earnings increased to $3.8 million from $3.2 million. During the quarter, the company opened four company stores and nine franchised stores. Currently, the company operates and franchises 184 stores. Franchises have been awarded for an additional 103 units.

Boston Chicken, Inc. (303-384-5172) reported that its third quarter revenue increased 92% to $74.31 million from $38.671 million; net income increased 96% to $17.3 million from $8.814 million and gross revenue systemwide increased 46% to $288.85 million from $197.496 million. The company currently operates 1,023 Boston Market restaurants nationwide.

Applebee's International, Inc. (913-967-4000) reported that its third quarter net earnings increased 34% to $11 million from $8.2 million during the third quarter last year. Third quarter sales increased 25% to $398.7 million from $319.2 million. The company currently operates and franchises 781 Applebee's restaurants and 22 Rio Bravo Cantinas nationwide. The company plans to continue its expansion.

Smith's Food & Drug Centers, Inc. (801-974-1490) reported that its third quarter sales fell 3.6% to $740.6 million. The sales decrease was primarily attributed to the closure of 34 CA supermarkets. Excluding the closed stores, the company's net sales increased 24.1% for the quarter. The company recently completed its acquisition of 28 Smitty's supermarkets in AZ and opened three stores to end the quarter with 149 stores in seven intermountain and southwestern states.

Just For Feet (205-403-8150) reported that sales for its third quarter increased 99.4% to $69.32 million from $34.77 million. Comparable store sales were up 18.5% for the quarter. During the quarter, the company opened five stores and currently operates 44 units and franchises seven stores in 12 states.

Blockbuster Entertainment Group (954-832-3000) has confirmed its plans to move its headquarters from Fort Lauderdale, FL to Dallas, TX beginning in March 1997. The company plans to offer jobs to all 1,000 headquarters employees at its new facility. The move is being made in part because Blockbuster plans to open a large distribution facility in Dallas that will supply its stores nationwide. In other news, the company has added "bookstores" within 275 of its Blockbuster Music stores nationwide. The 1,000 sq.ft. departments carry more than 12,000 books and magazines at prices up to 30% below manufacturer's suggested retail prices.

Egghead Software (509-891-6328) reported a $4.7 million loss for its second quarter as sales fell 21% to $80 million from $100.6 million last year. During the second quarter last year, the company lost $3.5 million. For the first half of its fiscal year, the company has lost $12.2 million, compared to a $6.3 million loss for the first two quarters last year, with sales off 14% from last year.

Baby Superstore, Inc. (803-968-2504) reported a third quarter sales increase of 55% to $111.3 million from $71.7 million last year. Comparable store sales fell 2%. During the third quarter, the company opened six stores and entered into a merger agreement with Toys 'R Us. The merger is expected to close during January. Currently, the company operates 73 stores in 21 states.

K&G Men's Center, Inc. (404-351-7987) reported that its third quarter net sales increased 55.1% to $19.7 million from $12.7 million. Comparable store sales increased 8.1%. The company currently operates 17 stores in 11 states.

New Construction

Carolina Holdings, Inc. is developing three 10,125 sq.ft. freestanding CVS drug stores that will feature a drive-thru in Greenville, SC. These three units are part of CVS' overall plan to open as many as seven pharmacies in the Greenville market by Fall 1997.

For more information, contact Bill Misiaveg of Carolina Holdings at (864-458-8088), Fax (458-9549).

Berkowitz Development Group, Inc. recently completed construction and opened Dadeland Station in Miami, FL. The five-story shopping center is anchored by Best Buy, Target, Sports Authority, Bed Bath & Beyond and Michaels which are located above one another. In addition, 9,500 sq.ft. of specialty store space was constructed as well.

For more information, contact Jeffrey Berkowitz of Berkowitz Development Group at (305-854-2800).

Tanger Factory Outlet Centers, Inc. plans to develop a factory outlet complex in Romulus, MI. The 800,000 sq.ft. project will include a mix of manufacturers' outlet stores, traditional value retail stores, big-box users, multiplex cinemas, a food court, and nine outparcels for hotels, restaurants and service oriented uses. Phase I of the project is expected to open during 1998. In addition, the company plans to develop a 300,000 sq.ft. factory outlet center in Concord, NC which will contain more than 70 manufacturers' outlet stores. Also, the company plans to develop a 225,000 sq.ft. outlet center in Ashburn, VA. The project, which will house more than 60 manufacturers' outlet stores, will be the retail component of Ashbrook Village, a mixed use development that will also include office, hotel, single and multi-family developments.

For more information, contact Carrie Johnson of Tanger Factory Outlet Centers, Inc. at (910-274-1666).

SDL McCarthy recently constructed three retail sites for Walgreens in the Seattle, WA area. Two facilities are 15,000 sq.ft. and the third is 11,500 sq.ft.

For more information, contact Carl Friis of SDL McCarthy at (206-746-9228).

JDN Realty Corporation and Alliance Properties recently broke ground on a 470,000 sq.ft. power center in Greensboro, NC. The project will be anchored by a 122,000 sq.ft. Target, an 87,000 sq.ft. Kohl's, a 59,000 sq.ft. Kroger, a 54,000 sq.ft. HomePlace, a 42,000 sq.ft. Baby Superstore, a 26,000 sq.ft. PetsMart and a 14,000 sq.ft. Shoe Carnival. Approximately 45,000 sq.ft. remains available for lease. The project is expected to open during mid-1997.

For more information, contact William Kerley of JDN Realty Corporation at (404-262-3252).

Fidelity Land Development Corp. recently broke ground on Town Center Plaza in East Windsor, NJ. The 194,000 sq.ft. project will be anchored by a 75,000 sq.ft. ShopRite Supermarket and a 60,000 sq.ft., 3,000-seat Magic Cinema. Approximately 18,000 sq.ft. remains available for lease. The site is expected to open during Spring 1998.

For more information, contact Sal Davino of Fidelity Land Development Corp. at (201-966-2800).

Lead Sheet

David's Bridal

Michael Mirsky

44 West Lancaster Avenue #200

Ardmore, PA 19003

610-896-2111, Ext. 244, Fax 896-2112

Apparel

The 45-unit chain operates locations nationwide. The stores, selling bridalwear and special occasion dresses, occupy spaces of 10,000 sq.ft. to 12,000 sq.ft. in freestanding facilities and strip centers. Growth opportunities are sought nationwide.

Loehmann's, Inc.

dba Loehmann's

Len Depippo

2500 Halsey Street

Bronx, NY 10461

718-409-2000, Fax 518-2766

Apparel

The 73-unit chain operates locations in 23 states. The stores, selling better women's designer ready-to-wear apparel at off-price points, occupy spaces of 25,000 sq.ft. to 62,000 sq.ft. in downtown store fronts, regional malls and strip centers. Plans call for 10 openings annually during the next five years. Expansion will take place nationwide.

A.C. Moore Arts & Crafts, Inc.

dba A.C. Moore Arts & Crafts

Sandy Adler

500 University Court

Blackwood, NJ 08012

609-228-6700, Ext. 106, Fax 228-0080

Arts & Crafts

The 21-unit chain operates locations in DE, NJ, NY and PA. The arts and crafts stores occupy spaces of 20,000 sq.ft. to 22,000 sq.ft. in power centers. Preferred anchors include Target and T.J. Maxx. Plans call for as many as 20 openings in the coming 18 months. Expansion will take place along the East Coast. Preferred demographics include a population of 50,000 within five miles earning $45,000 as the average income. Leases running 10 years, with four options running five each, are typical.

Aamco Transmission, Inc.

dba Aamco Transmission

Rick Fuller

1 Presidential Boulevard

Bala Cynwyd, PA 19004

215-668-2900, Fax 664-4570

Automotive

The 670-unit chain operates locations nationwide. The automotive service centers, specializing in transmission repairs, occupy spaces of 3,000 sq.ft. to 5,000 sq.ft. in freestanding facilities. Growth opportunities are sought nationwide.

Econo Lube N' Tube, Inc.

Mark Paredes

PO Box 2470

Newport Beach, CA 92650

714-852-6690, Fax 852-6688

Automotive

The 225-unit chain operates locations in AZ, CA, CO, FL, GA, KS, MD, MO, NV, VA and WA. The automotive service centers occupy spaces of 2,800 sq.ft. in freestanding facilities, regional malls, power and strip centers. Preferred anchors include Kmart, Wal*Mart and supermarkets. Plans call for 50 openings in the coming 18 months. Expansion will take place in FL, KS, MO, NC, SC and TX. Preferred demographics include a population of 50,000 within three miles earning $40,000 as the average income. Leases running 15 years are typical and the company cites Jiffy Lube and Precision Tune as competition.

Index Notion Co., Inc.

dba The Wooden Key

James Sinclair

887 West Carmel Drive

Carmel, IN 46032

317-573-3990, Fax 573-3992

Cards and Gifts

The 24-unit chain operates locations in IL and IN. The card and gift stores occupy spaces of 4,000 sq.ft. in regional malls, power and strip centers. Growth opportunities are sought in the existing markets.

Kiddie Academy International

dba Kiddie Academy Child Care Learning Centers

Alex Krowzow

108 Wheel Road, Suite 200

Bel Air, MD 21025

410-515-0788, Fax 569-2729

Child Care

The 50-unit chain operates locations in CA, DE, IL, IN, MD, MI, NY, PA, TX and VA. The child care facilities occupy spaces of 7,500 sq.ft. to 10,000 sq.ft. in freestanding facilities. Plans call for 50 openings in the coming 18 months. Expansion will take place nationwide. Preferred demographics include a population of 50,000 within three miles earning $60,000 as the average family income. Leases running 10 years are typical and the company is franchising.

Casey's General Stores, Inc.

dba Casey's General Stores

Les Knust

PO Box 3001

Ankeny, IA 50021

515-965-6100, Fax 965-6160

Convenience Store

The 1,000-unit chain operates locations in IL, IN, IA, KS, MN, MO, NE, SD and WI. The convenience stores occupy spaces of 2,720 sq.ft. in freestanding facilities. Growth opportunities are sought in the existing markets.

East Coast Oil Corporation

James Richards

1420 East Commerce Road

Richmond, VA 23224

804-232-2373, Fax 232-2883

Convenience Store

The 32-unit chain operates locations in VA. The convenience stores, which also sell gasoline, occupy spaces of 3,600 sq.ft. in freestanding facilities. Plans call for as many as six openings in the coming 18 months. Expansion will take place in the Mid-Atlantic region.

Thrifty/Payless, Inc.

dba Thrifty, Payless

James Gaube

9275 SW Peyton Road

Wilsonville, OR 97070

503-685-6125, Fax 684-1445

Drug Store

The 1,050-unit chain operates locations in AK, CA, CO, MT, NV, OR, UT and WA. The drug stores occupy spaces of 17,253 sq.ft. in downtown store fronts, freestanding facilities, specialty and strip centers. Preferred anchors include apparel store, hardware stores and supermarkets. Plans call for 65 openings in the coming 18 months. Expansion will take place in the Western region. Preferred demographics include a population of 20,000 within one and half miles earning $15,000 as the average income. Leases running 20 years are typical and the company prefers a vanilla shell.

NLF, Inc.

dba Nu-Look 1Hr. Cleaner

Karl Dickey

15 SE Second Avenue

Deerfield Beach, FL 33441

954-426-1111, Fax 570-6248

Dry Cleaners

The 50-unit chain operates locations in FL, MD, VA, WV and Indonesia. The dry cleaners occupy spaces of 1,200 sq.ft. to 1,400 sq.ft. in freestanding facilities and strip centers. Plans call for 10 openings in the coming 18 months. Expansion will take pace in AZ, CT, GA, MD, NC, SC, PA and international markets. The company is franchising.

Rosa's Home Appliance

dba Rosa's Superstores

Paul Rosa

2331 Union Road

Cheektowago, NY 14227

716-656-5383, Ext. 310, Fax 656-0194

Electronics

The six-unit chain operates locations in NY. The stores, selling home appliances, electronics and furniture, occupy spaces of 14,000 sq.ft. in freestanding facilities, Growth opportunities are sought in the existing market.

The Leather Center

Paul Miller

2724 Realty Road

Carrollton, TX 75006

972-418-0073, Fax 416-3022

Furniture

The 46-unit chain operates locations nationwide. The stores, selling upholstered leather furniture and furnishings occupy spaces of 4,500 sq.ft. in power and strip centers. Plans call for 12 openings in the coming 18 months. Expansion will take place nationwide.

Ace Hardware Corp.

dba Ace Hardware

Earl Prim

c/o AHC Realty Corp.

2200 Kensington Court

Oak Brook, IL 60521

630-990-6485, Fax 571-0977

Hardware

The 5,000+-unit chain operates locations nationwide. The stores, selling hardware and related merchandise, occupy spaces of 10,000 sq.ft. to 12,000 sq.ft. in freestanding facilities and strip centers. Preferred anchors include auto parts stores, drug stores and supermarkets. Plans call for 200 openings in the coming 18 months. Expansion will take place throughout North America and Mexico. Preferred demographics include a population of 25,000 within two miles earning $50,000 as the average income. Leases running 10 years are typical and the company cites Home Depot, Lowes, Sears and True Value as competition.

Lady of America

Gary Landson

c/o Landco Realty Group

3300 Chimney Road, Suite 204

Houston, TX 77056

713-952-9988, Fax 952-1828

Health & Fitness

The 152-unit chain operates locations nationwide. The health & fitness facilities, featuring ladies aerobics, occupy spaces of 2,400 sq.ft. to 8,000 sq.ft. in freestanding facilities, power, specialty and strip centers. Plans call for 30 openings in the company 18 months. Expansion will take place nationwide. The company is franchising.

Banner Carpet & Drapes, Inc.

dba Banner Carpet & Drapes

Phillip Borsuk

320 South Beach Boulevard

Anaheim, CA 92804

714-527-0300, Fax 827-7037

Home Improvement

The five-unit chain operates locations in CA. The stores, selling carpets and drapes, occupy spaces of 3,000 sq.ft. to 20,000 sq.ft. in downtown store fronts, freestanding facilities and strip centers. Growth opportunities are sought in the existing market. The company is seeking spaces running 3,000 sq.ft. to 5,000 sq.ft. for its new locations.

Luxottica

dba Lenscrafters

Tom Coleman

8650 Governor's Hill Drive

Cincinnati, OH 45252

513-583-6000

Optical

The 600+-unit chain operates locations nationwide. The optical stores occupy spaces of 2,500 sq.ft. to 3,500 sq.ft. in freestanding facilities, regional malls and strip centers. Growth opportunities are sought nationwide.

Craters & Freighters Franchise Corp.

dba Craters & Freighters

Diane Nordyke

11871 East 33rd Avenue #D

Aurora, CO 80010

303-361-6600, Fax 360-6472

Service

The 19-unit chain operates locations in AZ, CA, CO, FL, GA, LA, MO, NC, PA, NY and OH. The freight handling service occupies spaces of 1,500 sq.ft. to 1,800 sq.ft. in freestanding facilities. Plans call for 15 openings in the coming 18 months. Expansion will take place nationwide.

Rack Room

dba Rack Room Shoes

David Schulman

8310 Technology Drive

Charlotte, NC 28262

704-547-9200, Ext. 2106, Fax 547-8158

Shoes

The 140-unit chain operates locations in AL, FL, GA, NC, SC, VA, TN, PA, MD, KY, IL, IN, OH and LA. The family shoe stores occupy spaces of 5,000 sq.ft. to 6,000 sq.ft. in freestanding facilities, regional malls, specialty and strip centers. Growth opportunities are sought east of the Mississippi River with expansion into the Midwestern region planned during 1998.

Steve's Shoes, Inc.

dba Steve's Shoes, Overland Outdoor Footwear

Mike Yeager

13550 West 108th Street

Shawnee Mission, KS 66215

913-469-5535, Fax 469-5718

Shoes

The 44-unit operates locations in CO, KS, MO, OK, MN, IA, NE, SD, WI and IL. The stores, selling shoes for the family, occupy spaces of 1,000 sq.ft. to 2,000 sq.ft. in regional malls. Plans call for as many as five openings in the coming 18 months. Expansion will take place in the existing markets.

The Limited, Inc.

dba Galyan's Trading Co.

David Zoba

3 Limited Parkway

Columbus, OH 43230

614-479-7000, Fax 479-7450

Sporting Goods

The nine-unit chain operates locations in KS, IN, OH and MN. The stores, selling brand name athletic apparel and shoes as well as sports and outdoor equipment, occupy spaces of 80,000 sq.ft. to 100,000 sq.ft. in freestanding facilities, power, specialty and strip centers. Growth opportunities are sought in the existing markets.

Family Market, Inc.

dba Warehouse Market

Clint Cox

PO Box 702280

Tulsa, OK 74170-2280

918-749-6621, Fax 749-8352

Supermarket

The 16-unit chain operates locations in OK. The supermarkets occupy spaces of 30,000 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.

B. Green & Company

dba Harvest Fair, Food Depot

10075 Red Run Boulevard, Suite 575

Owens Mills, MD 21117-4871

410-363-3444, Ext. 208, Fax 363-8330

Supermarket

The company operates three Harvest Fair markets and two Food Depot stores, all in MD. The Harvest Fair supermarkets occupy spaces of 25,000 sq.ft. in strip centers while the Food Depot store occupy spaces of 45,000 sq.ft. to 70,000 sq.ft. in strip centers. Growth opportunities for both concepts are sought in the existing market.

Space Place

California

Santa Rosa- A 3,400 sq.ft freestanding pad building, with a drive-thru approved for fast food or a bank, is available for lease. The site is located adjacent to Coco's, Burger King and Payless Drug Store. Also in Santa Rosa- Safeway-Marlow Place Center is anchored by Safeway, Ben Franklin Crafts and Round Table Pizza. The 100,000 sq.ft. project has spaces from 1,000 sq.ft. to 2,000 sq.ft. available for lease. Also in Santa Rosa- Santa Rosa Value Center is anchored by Food-4-Less, HomeBase, Thriftys, Hollywood Video, Taco Bell and Burger King. The 250,000 sq.ft. project has spaces from 1,500 sq.ft. to 4,000 sq.ft. available for lease. In Windsor- Shiloh Market Place is anchored by Wal*Mart. The 350,000 sq.ft. project has pad sites from 10,000 sq.ft. to 20,000 sq.ft. available for lease.

For details, contact Dino D'Argenzio of Keegan & Coppin Co., Inc. at (707-528-1400), Fax (545-1784).

Florida

Dunnellon- A 24,000 sq.ft. space is available for lease at Dunnellon Plaza. The space is subdividable. In Lake City- A 4,000 sq.ft. space is available for lease. The space can be subdivided in half.

For details, contact Joan Rubin Cook of Realty Corp. Int'l. at (954-344-7700), Fax (344-9177).

New Jersey

Lincoln Park- Lincoln Park Plaza is tenanted by Cost Cutters, Carvel and McDonald's. The 60,000 sq.ft. project has spaces from 1,350 sq.ft. to 23,000 sq.ft. available for lease. The site fronts Route 202. Demographics include a population of 126,000 within five miles earning $81,660 as the average household income.

For details, contact Anthony Vita of Vita & Vita Realty Corp. at (201-227-5233).

Livingston- Cedar Center is anchored by CVS Pharmacy. The 27,000 sq.ft. project, which is under construction, has spaces of 1,600 sq.ft., 3,200 sq.ft. and 4,800 sq.ft. available for lease. The center is expected to open during Summer 1997. In Somerville- Pathmark Center is anchored by Pathmark. The 140,000 sq.ft. project has spaces of 1,100 sq.ft. and two 4,000 sq.ft. spaces available for lease. In Washington Township- Washington Shopping Center is anchored by A&P. The 85,000 sq.ft. project has spaces of 1,800 sq.ft., 2,000 sq.ft., 4,000 sq.ft. and 8,000 sq.ft. available for lease.

For details, contact Howard Wein (Cedar Center), William Mooney (Pathmark Center) or Jack Castor (Washington) of Jeffrey Realty at (908-668-9600), Fax (668-5225).

Ohio

Perrysburg- Fort Meigs Plaza is anchored by Big Lots, FoodTown Supermarket and Rite Aid. The 104,990 sq.ft. project has a 1,532 sq.ft. space available for lease. In Port Clinton- Knollcrest Shopping Center is anchored by Wal*Mart and Bassett IGA. The 150,000 sq.ft. project has outlots available for lease.

For details, contact Sam Zyndorf (Fort Meigs Plaza) or William Cosgrove (Knollcrest Shopping Center) of Zyndorf/Serchuk Inc., at (419-249-7070), Fax (255-2439).

Pennsylvania

Erie- Grandview Shopping Plaza is anchored by Kmart, Quality Markets, J.C. Penney Catalog and Radio Shack. The project has a 15,000 sq.ft. space, two outparcels and two acres of land available for lease. In State College- Hills Plaza/Hills PLaza South is anchored by Hills, Bilo, Weis, Encore Books & Music, Firestone, McDonald's, Boston Market and Taco Bell. The 325,000 sq.ft. project has spaces of 1,580 sq.ft. and 6,050 sq.ft. available for lease.

For details, contact Anthony Vita of Vita & Vita Realty Corp. at (201-227-5233).

Mergers & Acquisitions

Safeway, Inc. (510-891-3000) recently proposed a business combination to the Board of Directors of The Vons Companies, Inc. that calls for the merger of Vons with Safeway. The proposal calls for Safeway to issue 1.34 Safeway shares for each of the Vons shares not currently owned by Safeway with the value set at approximately $3.25 billion. The Vons Companies Board of Directors is currently studying the proposal. Vons operates 325 supermarkets trading as Vons and Pavilions in CA. Safeway operates 1,050 supermarkets throughout North America.

Wendy's International (614-764-3099) has agreed to purchase 37 Rax Restaurants from Heartland Food Systems, Inc. and recently acquired Volunteer Capital Corporation's Wendy's franchised division for $28 million in cash.

J.C. Penney Company, Inc. (214-431-1000) and Eckerd Corporation recently announced a definitive agreement to combine J.C. Penney's Thrift Drug chain with Eckerd drug stores through a cash and stock acquisition of Eckerd by J.C. Penney. The transaction, which includes the assumption of $760 million of Eckerd debt, is valued at $3.3 billion. The proposed acquisition would create a combined drug store company having more than 2,800 stores located throughout the Northeast, Midwest and Sunbelt, and having projected fiscal 1997 sales of nearly $10 billion. The deal is expected to be completed during early 1997.

Food Lion, Inc. (704-633-8250) recently entered into a definitive merger agreement with Kash n' Karry Food Stores, Inc. under which Food Lion will acquire Kash n' Karry for approximately $341 million. Kash n' Karry operates 100 supermarkets in FL and Food Lion operates more than 1,100 supermarkets in 14 states. The deal is expected to be completed either late this year or early next year.

24 Hour Fitness (510-416-3154) recently acquired 11 Gold's Gym locations in the Houston and Dallas-Fort Worth, TX areas from Landhigh Investments, the Gold's Gym franchisee. 24 Hour Fitness plans to change the name of the locations and increase their operating hours. The acquisition gives 24 Hour Fitness 131 health clubs in five states.

Cole National Corporation (216-449-4100) recently acquired AOCO Limited from American Optical Corporation. AOCO operates 73 Sears Optical Department and two freestanding stores trading as Vision Club throughout Canada. The newly acquired stores will be added to Cole National's 2,396 units trading as Sears Optical, Sears Optical Canada, Montgomery Ward Vision Center, Things Remembered and The Gift Center at Sears in 49 states and Canada.

Sources of Financing

Westminster Realty Company (407-391-1737) recently arranged a $3 million fixed rate permanent financing loan for Loggerhead Plaza, a 45,000 sq.ft. retail/office facility in Juno Beach, FL.

Liberty Mortgage Acceptance Corporation (916-568-0100) recently arranged a $6.072 million, 10-year fixed rate permanent mortgage for Big Curve Shopping Center in Yuma, AZ.

Mid-North Financial Services, Inc. (312-853-3550) and Julian, Toft & Downey, Inc. jointly arranged an $18 million loan for Park Place Fashion Centre in Palatine, IL. The 346,000 sq.ft. project is anchored by Builders Square II, T.J. Maxx, Fresh Fields Market, OfficeMax, Blockbuster Video and Fuddruckers.

The Capital Markets Group of Berkshire Mortgage Finance (617-423-2233) recently closed a $3.75 million loan to refinance The Village Mall in Methuen, MA. The project was financed under the NationsLink Commercial Program and the 10-year loan carries a rate of 9.25% amortized over 25 years. The 94,761 sq.ft. project is anchored by X-Pect Drug, So Fro Fabrics and Gold's Gym.