I could go on and on for the next 10 "My Ways," naming names and explaining why these retailer have no social redeeming value, as I'm sure most of our readers could do as well.  No wonder catalog shopping is becoming more popular every year.  Once the Internet gets its act together, conventional retailing will have even more problems, since only the very poor who can't afford to be on-line or do not have a credit card, or the very stupid will shop in these stores during Christmas.

 

What I decided was that these retailers are not incompetent, it's a conspiracy on their part to destroy capitalism in our country.  They figure that by staffing their stores with stupid, rude and incompetent personnel, people will get fed up with buying, causing even more chains to go under, putting hundreds of thousands of people out of work  Then, when the country is in ruins, these left wing, long hair, pinko communists will take over the country.  Democracy as we know it is threatened, our only salvation will be if we can develop competent retailers.  Now that's a long shot.

 

On a different topic, before the end of capitalism and retailing comes about, there are other problems brewing in our industry that can cause catastrophes.  A few weeks back, I briefly mentioned that there was a bill pending in the New Jersey legislature that could cause problems for brokers (the original intent as I understand it was that as a broker, if you claim you represent a retailer, then that's who pays you).  I wrote this as an afterthought more than anything else.  Well, this caused more feedback than 90% of "My Ways."

 

I received several faxes and calls from brokers saying their state enacted this type of law years ago and after a shakeout period, was working well.  Others called to get more information so they could propose it in their state and Rich Brunelli (R.J. Brunelli & Company 908-721-5800) sent me a copy of the proposed law and a brief overview of its retarded proposals.  What this proves is that both the government and the developers backing it have a combined I.Q. of 6.

 

First, let me restate the fact that I see nothing wrong with a requirement that a broker has to disclose who they represent and I have minimum objections to even requiring that whoever they represent is responsible for paying 'em.  However, my first objection is the law itself.  I'm a great believer in "the government the governs least, governs best."  I also believe that whatever the government does is either stupid, corrupt or incompetent, so let's not get 'em involved.  Proving my statement is that the proposed law would:

1) Make it illegal for a landlord to pay a commission on a gross lease (shouldn't that be a decision between the developer and tenant, maybe we should make it illegal to do gross leases).

2) Commissions must be discounted based on the prime rate (This is fair as long as there is a law saying the broker owns the center if they are not paid on time).

3) If a broker dies, commissions due are ended.  That's fine as long as there's a provision that if the landlord dies or the center is sold, the tenant is no longer required to pay rent.

4) It will be illegal to pay commissions for a period longer than 10 years.  While in theory I have no objections, since we don't charge for a longer period of time, I think it's only right that we limit the term of the lease to a maximum of 10 years (so what if the landlord can't get financing, that shouldn't matter).

5) No commission can be paid to a broker not licensed in New Jersey.  First of all, half the commissions paid in our industry are illegal anyway, since most exclusive brokers are not licensed in the state they are doing business in, but the smart ones co-broker with a local agent.  It's really stupid to say I can't co-broker with someone in Florida just because I'm not licensed there.  If the legislature wants to "keep" money in NJ, shouldn't it also be mandated that the tenant has to be based in NJ.  Let's keep those low life outsiders like Wal*Mart, Neiman Marcus, and Target out of the state.

6) A broker who has an exclusive, but isn't actively involved in the deal, won't collect a commission.  Who determines what "active" means?  I propose we eliminate all contracts for everyone--developers, brokers, retailers, mortgagee companies, whatever.  Why should anyone have to live up to their agreement.

7) If a tenant defaults in the lease, the broker has to repay the commission.  That's fine, as long as what's good for the broker is good for the developer.  The developer has to be personally responsible for the taxes and mortgage and no matter what happens to the center's cash flow, he/she will have to pay the mortgage and real estate taxes and can't "walk" from a property without first going bankrupt, then I have no objections (bet Simon and Glimcher would have hated that one).

 

Yes, I admit that I'm upset because I'm a broker and this could really affect my income, but even more importantly, I can't believe how stupid the developers who proposed this are.  (I take that back, yes I realize how stupid developers can be.)  Now while in the past I've occasionally knocked brokers (justifiably I might add), developers are no better and probably screw up more than the brokers.  The developers that are backing this law think that they can lower their expenses by limiting the role of the broker.  They're right, because they won't do as many deals, therefore they won't have to pay any commissions on their vacancies.  Besides that, 99% don't have the personnel to handle the increase in deals that might occur and while it would be nice to say they'll hire 'em, I know developers willing to pay $60,000 a year for a warm body, but can't find one that has any understanding on how to make a deal happen.

 

I also see the same morons getting upset when they call "Wal*Mart" for a proposed site and are told it will be at least four months before their leasing representative can visit the site.  The Wal*Marts of the world won't add additional personnel or pay the commissions, so in theory, their people will have to work harder, which means every deal will take longer.  Look at the numbers, what makes more sense, not to pay a $200,000 commission and take six months longer to make the deal?  I think paying the $200,000 is cheap.  Plus if a developer never dealt with "Wal*Mart" before, add another six months the dumb broker would have saved while they go through a learning cycle.

 

 

Retailers' Expansion Plans: "California Dreaming"

 

Fairway Stores, Inc. trades as Fairway Mart at six locations in CA.  The supermarkets occupy spaces of 25,000 sq.ft. in strip centers.  Growth opportunities are sought in the existing market.

  For more information, contact Mark Futch, Fairway Stores, Inc., 11270 Merritt Street, Suite C, Castroville, CA 95012; 408-633-3306, Fax 633-4910.

 

Carpeteria, Inc. trades as Carpeteria at 36 locations in AZ and CA.  The home improvement stores, which sell tiles, carpeting, wood, vinyl and ceramic, occupy spaces of 3,000 sq.ft. to 4,000 sq.ft. in freestanding facilities and strip centers.  Growth opportunities are sought in the existing markets.

  For more information, contact Kathryn Mathie, Carpeteria, Inc., 25322 Rye Canyon Road, Santa Clarita, CA 91355; 805-295-1000, Fax 257-4958.

 

Aim Mail Centers operates 40 locations in CA and NV.  The stores, offering postal and business services, occupy spaces of 1,200 sq.ft. in power and strip centers.  Plans call for 15 openings in the coming 18 months.  Expansion will take place in the Southwestern region.

  For more information, contact Tess Alvey, Aim Mail Centers, c/o RHE Investments, 18377 Beach Boulevard, Suite 326, Huntington Beach, CA 92648; 714-375-2240, Fax 375-2242.

 

Gary's Tux Shop operates 68 locations in CA and NV.  The formalwear stores occupy spaces of 850 sq.ft. in downtown store fronts, regional malls and strip centers.  Growth opportunities are sought in CA.

  For more information, contact Nicole Chambrosse, Gary's Tux Shop, 6711 Odessa Avenue, Van Nuys, CA 91406; 818-997-0711, Fax 787-7829.

 

The Good Guys! operates 70 stores in CA, NV, OR and WA.  The consumer electronics stores occupy spaces of 20,000 sq.ft. to 55,000 sq.ft. in power and strip centers.  Plans call for 15 openings in the coming 18 months.  Expansion will take place in the existing markets.

  The company also trades as Wow at two locations in CA and NV.  The concept, which combines a Good Guys! store and a Tower Records store, occupies spaces of 55,000 sq.ft. in freestanding facilities and strip centers.  Plans call for six openings in the coming 18 months.  Expansion will take place in CA.

  For more information on the above two concepts, contact Brad Kaye, The Good Guys!, 7000 Marina Boulevard, Brisbane, CA 94005; 415-615-5000, Fax 65-6288.

 

Hi-Lo Auto Supply trades as Hi-Lo Auto at 194 locations in CA, LA and TX.  The automotive parts and supplies stores occupy spaces of 10,000 sq.ft. in freestanding facilities.  Growth opportunities are sought in the existing markets.

  For more information, contact Ray Oden, Hi-Lo Auto Supply, 2575 West Bellfort, Houston, TX 77054; 800-299-4456, Fax 713-663-9243.

 

Hyman Family, LP does business as Susie's Factory Direct and Susie's Deals at 50 locations in AZ, CA and NV.  The Susie's Factory Direct stores carry family apparel, while Susie's Deals stores carry junior apparel and accessories.  The stores occupy spaces of 3,000 sq.ft. to 4,500 sq.ft. in power and strip centers.  Plans call for five Susie's Factory Direct openings in the coming 18 months.  Expansion will take place in CA.  The Susie's Deals concept is on hold.

  For more information, contact Gail Jeffrey, Hyman Family, LP, 1115 John Reed Court, City of Industry, CA 91745; 818-369-9811, Ext. 221, Fax 961-4228.

 

Howard & Phil Enterprises, Inc. trades as Howard & Phil's Western Wear at 31 locations in CA, NV and UT.  The apparel stores, selling western wear for the family, occupy spaces of 3,500 sq.ft. in regional malls.  Preferred anchors include upscale tenants.  Plans call for as many as four openings in the coming 18 months.  Expansion will take place in the Western region.  Preferred demographics include a population of 100,000 within five miles earning $40,000 as the average income.  Leases running 10 years are typical and the company seeks tenant allowances from landlords.

  For more information, contact John McKeon, Howard & Phil Enterprises, Inc., 19415 Soledad Canyon Road, Canyon Country, CA 91351; 805-252-8931, Fax 252-0949.

 

General Textiles trades as Family Bargain Center at 120 locations in AZ, CA, NM, NV, OR, TX and WA and as Factory 2-U at 31 locations in AZ, NM and TX.  The stores, selling family apparel at discount price-points, occupy spaces of 12,000 sq.ft. to 18,000 sq.ft. in strip centers.  Preferred anchors include supermarkets.  Plans call for 35 Family Bargain Center openings and eight Factory 2-U openings in the coming 18 months.  Expansion will take place in the respective existing markets.  Preferred demographics include a population of 65,000 within five miles earning less than $35,000.  Leases running five years are typical and the company cites Kmart and Wal*Mart as competition.

  For more information, contact Donna Lewis, General Textiles, 4000 Ruffin Road, San Diego, CA 92123; 619-637-4105, Fax 637-4199.

 

The Ben Bridge Corporation trades as Ben Bridge Jeweler at 51 locations in AK, AZ, CA, CO, HI, NM, NV, OR and WA.  The stores, selling fine jewelry while targeting middle to upper-middle income consumers, occupy spaces of 1,300 sq.ft. to 1,800 sq.ft. in regional malls.  Growth opportunities are sought in the existing markets.

  For more information, contact Jonathan Bridge, The Ben Bridge Corporation, PO Box 1908, Seattle, WA 98111-1908; 206-448-8800, Ext. 6866, Fax 448-7456.

 

Buffalo Exchange operates 17 locations in AZ, CA, NM, NV, OR, TX and WA.  The stores, selling new and used clothing for adults and catering to college students, occupy spaces of 2,000 sq.ft. to 4,500 sq.ft. in freestanding facilities and strip centers.  Growth opportunities are sought in the existing markets.

  For more information, contact Dana Whitney Lawrence, Buffalo Exchange, PO Box 40488, Tucson, AZ 85717; 520-622-2711, Fax 623-9292.

 

C&K Markets, Inc. does business as Ray's Food Place at 34 locations in CA and OR.  The supermarkets occupy spaces of 22,000 sq.ft. to 45,000 sq.ft. in freestanding facilities and strip centers.  Growth opportunities are sought in the existing markets.

  For more information, contact Tom Jones, C&K Markets, Inc., 615 Fifth Street, Brookings, OR 97415; 514-469-3113, Fax 469-6717.

 

Dickenson Retailing Company trades as Denim Works at 23 locations throughout the Midwestern and Western regions.  The stores, selling denim apparel for men and women, occupy spaces of 4,500 sq.ft. to 6,000 sq.ft. in regional malls.  Growth opportunities are sought west of CO.

  For more information, contact Harvey Turell, Dickenson Retailing Company, 14603 East Oncreff Place, Aurora, CO 80011; 303-574-0100, Fax 574-0104.

 

Chief Auto Parts, Inc. trades as Chief Auto Parts at 551 locations in CA, NV, OK, TN and TX.  The automotive supply and accessories stores occupy spaces of 5,400 sq.ft. in power and strip centers.  Preferred anchors include supermarkets.  Plans call for 60 openings in the coming 18 months.  Expansion will take place in the existing markets.

  For more information, contact Gene Detchemendy, Chief Auto Parts, Inc., 16069 Shoemaker Avenue, Cerritos, CA 90703; 310-921-2696, Fax 921-3547.

 

Safeway Stores, Inc. trades as Safeway at 1,097 locations nationwide.  The supermarkets occupy spaces of 40,000 sq.ft. to 60,000 sq.ft. in freestanding facilities, power and strip centers.  Plans call for as many as 40 openings in the coming 18 months.  Expansion will take place in AK, AZ, CA, CO, HI, MD, MT, NM, NV, OR, SD, VA, WA, WY, Washington, D.C. and Canada.

  For more information, contact Don Wright, Safeway Stores, Inc., 5918 Stoneridge Mall, Pleasanton, CA 94588; 510-467-3000, Fax 467-2007.

 

Shop N Go, Inc. operates 10 locations in CA.  The convenience stores, which also sell gasoline, occupy spaces of 2,000 sq.ft. to 3,000 sq.ft. in freestanding facilities.  Plans call for two openings in the coming 18 months.  Expansion will take place in the existing market.  Leases running 20 years are typical and the company cites 7-11 and Circle K as competition.

  For more information, contact John Shehadey, Shop N Go, Inc., 405 North Palm Avenue, Fresno, CA 93701; 209-266-5055, Fax 266-8517.

 

 

Who's Opening and Where...

 

Waremart Foods, Inc. (208-377-0110) plans to build two 80,000 sq.ft. stores in Laguna and Antelope, CA.  Both stores are expected to open during early 1998.

 

Saks (212-940-5700) plans to open a 43,000 sq.ft. store at Blackhawk Plaza Shopping Center in Danville, CA during Fall 1997.

 

Einstein Bros. Bagels (303-202-3326) plans to open as many as 45 bagel stores in the Detroit, MI metropolitan area in the coming two years.

 

Tandy Corp. (817-390-3011) plans to open 100 Radio Shack stores annually through 1999.

 

Whole Earth Provision Co. (512-444-9974) recently opened an outdoor travel gear store in Austin, TX.  It was the company's sixth unit.  A seventh store is expected to open at Alamo Quarry Market in San Antonio, TX during Fall 1997.

 

Hard Rock Cafe (213-969-1000) plans to open a 15,000 sq.ft. restaurant in downtown Detroit, MI during 1998.

 

Harris Tetter (704-845-3100) plans to open a 46,600 sq.ft. supermarket at Mandarin Park in Jacksonville, FL during late 1997.

 

 

Store Closings

 

TJX Companies (508-390-3000) plans to close its T.J. Maxx stores at Cherry Tree Plaza and Lafayette Place in Indianapolis, IN.  The stores were closed, in part, because of the merger of TJX and Marshall's and because the stores were underperforming.

 

Musicland Stores Corp. (612-932-7700) plans to close its Media Play store located near CoolSprings Galleria in Franklin, TN this month.  The store was opened a year ago.

 

Adray's (213-935-8191) recently closed its last two electronics stores in Los Angeles, CA.

 

Tandy Corp. (817-390-3011) plans to close its 53-unit McDuff Electronics store chain citing unprofitability and incompatibility with the company's strategy as the reasons for the liquidation.  At one time, the company operated more than 200 McDuff stores.

 

 

Lease Signings

 

Flocke & Avoyer Commercial (619-280-2600) leased 15,000 sq.ft. to McDonald's Corporation in San Diego, CA; 620 sq.ft. to Virtual Office Communications at Crossroads Center in San Diego, CA; 1,210 sq.ft. to The Perfect Form Electric Exercise at Plaza Paseo Real Shopping Center in Carlsbad, CA; 11,746 sq.ft. to Designer Labels for Less at Hawthorne Center in Kearney Mesa, CA; 2,000 sq.ft. to A Mart at Madison Square in San Diego, CA; space to Golden Bagel Cafe at Rio Vista Shopping Center in San Diego, CA; 2,400 sq.ft. to Blackbelt Tae Kwon Do Studio at Bonita Point Plaza in Chula Vista, CA; 1,002 sq.ft. to California Body Tan at Tierra Del Sol Shopping Center in Tierrasanta, CA; 3,456 sq.ft. to Max's 99 Cents Store at Santee Village Square Shopping Center in Santee, CA; 1,261 sq.ft. to Ramona Lisa's Pizza at San Diego County Estates in Ramona, CA; 1,200 sq.ft. to San D Cycle at Convoy Ronson Plaza in Kearny Mesa, CA; 1,280 sq.ft. to Eugene and Leba Jager for a hair salon at Mission Gorge Shopping Center in San Diego, CA; 3,100 sq.ft. to Charlie Rose Baseball & Softball Specialists at Ruffin Village Shopping Center in San Diego, CA; 1,254 sq.ft. to Invisible Fence at Encinitas Village Square I Shopping Center in Encinitas, CA; 726 sq.ft. to Clippin Dales Grooming Gallery at Presidio Place Shopping Center in San Diego, CA; 1,200 sq.ft. to Head 'N Trails All Breed Pet Grooming Salon at Bonita Point Plaza in Chula Vista, CA and 3,494 sq.ft. to Brueggers Bagels at La Jolla Galleria Shopping Center in La Jolla, CA.

 

Western Investment Real Estate Trust (916-791-0600) leased 600 sq.ft. to Cigarettes Cheaper! at Eagle Station Shopping Center in Carson City, NV; 1,400 sq.ft. to Kwik Kuts at Yreka Junction Shopping Center in Redding, CA; 1,050 sq.ft. to Kim's Gifts at Victorian Walk Shopping Center in Fresno, CA; 2,700 sq.ft. to All That Video in Coalinga, CA; Fantastic Hair at San Antonio Center in Mountain View, CA; 1,050 sq.ft. to Country Mix Western Wear at Mercantile Row Shopping Center in Dinuba, CA and 1,050 sq.ft. to Heritage Chiropractic at Heritage Place Shopping Center in Tulare, CA.

 

CB Commercial (619-646-4769) leased 15,625 sq.ft. to Armstrong Garden Center in Temecula, CA; 6,000 sq.ft. to Betty's Hallmark in San Diego, CA and 6,000 sq.ft. to Blockbuster Video and 3,000 sq.ft. to Carl's Jr. in Alhambra, CA.  The company also leased 14 spaces to Hollywood Video in Los Angeles County, CA.  They include: 6,500 sq.ft. at Vanowen Marketplace in Reseda; 6,500 sq.ft. at Bouquet Plaza in Santa Clarita; 5,000 sq.ft. at Valencia Marketplace in Santa Clarita; 6,000 sq.ft. at Valu Plus Shopping Center in San Fernando; 7,100 sq.ft. in Tarzana; 6,000 sq.ft. and 6,400 sq.ft. in West Los Angeles; 5,800 sq.ft. at Venice Crossroads in Los Angeles; 6,700 sq.ft. in Los Angeles; 6,000 sq.ft. in Los Angeles; 5,800 sq.ft. at Downey Marketplace in Downey; 8,000 sq.ft. at Pico Rivera Plaza in Pico Rivera; 9,800 sq.ft. at Hawthorne Plaza in Hawthorne and 8,000 sq.ft. at Lakewood Center Mall in Lakewood.

 

Zell Commercial Real Estate Services (602-248-0600) leased 1,100 sq.ft. to Boston Lobster at Mountain View Plaza in Scottsdale, AZ; 3,200 sq.ft. to Andy's Family Restaurant at Union Plaza Shopping Center in Phoenix, AZ; 1,600 sq.ft. to The Wellness Shoppe and 1,500 sq.ft. to Ahwatukee Lock and Safe at Ahwatukee Plaza in Ahwatukee, AZ; 1,400 sq.ft. to Game Zone at Gilbert Towne Center in Gilbert, AZ; 900 sq.ft. to J.J.'s Take and Bake Pizza at Bashas' Glendale Square in Glendale, AZ; 972 sq.ft. to The Delstar Group for a candy store at Ahwatukee Foothills Towne Center in Phoenix, AZ; 1,200 sq.ft. to Profiles Salon and 1,575 sq.ft. to Amen Religious Items and Bookstore at Fiesta Palms Shopping Center in Mesa, AZ; 2,030 sq.ft. to Osborne's Jewelers at Goodyear Village in Goodyear, AZ; 1,200 sq.ft. to Lynn Hoa Tran Nail Salon at Ahwatukee Plams Shopping Center in Ahwatukee, AZ and 750 sq.ft. to For Nails Only at Winsor Square in Phoenix, AZ.

 

Feldman Equities (212-768-9010) leased 1,612 sq.ft. to The Greatful Bread Company, dba The Arizona Bread Company, 1,600 sq.ft. to Va Bene Trattoria and 3,000 sq.ft. to Golden City Restaurant at Mountainside Plaza in Phoenix, AZ; 4,337 sq.ft. to By The Yard at Cobblestone Village in Tempe, AZ and 1,400 sq.ft. to Optometry Plus Vision Centre at McClintock Fountains in Tempe, AZ.

 

 

Lead Sheet

 

Knot Shop Limited Partnership

dba Knot Shop

Marshall Felenstein

47 East 77th Street, Suite 205

New York, NY 10021

212-772-9829, Fax 535-9108

 

Accessories

The 21-unit chain operates locations in CA, CT, DE, GA, IL, MD, MA, MO, NV, NJ, NY, OH, OR, PA, VA and WA.  The stores, selling men's ties and accessories, occupy spaces of 400 sq.ft. to 800 sq.ft. in downtown store fronts and regional malls.  Plans call for as many as six openings in the coming 18 months.  Expansion will take place within the existing markets.

 

M.J.D. Investments, Inc.

dba M.J. Designs

Mike Nuzum

500 Airline Drive

Coppell, TX 75019

214-304-2200, Fax 304-2225

 

Arts & Crafts

The 57-unit chain operates locations in GA, MD, NY, NC, TX and VA.  The arts and crafts stores occupy spaces of 35,000 sq.ft. in strip centers.  Growth opportunities are sought in the existing markets.

 

Sally Beauty Co., Inc.

dba Sally Beauty Supply

Marvin Joyce

3900 Morse

Denton, TX 76205

817-898-7608, Fax 381-9022

 

Cosmetics

The 1,545-unit chain operates locations nationwide.  The stores, selling beauty supplies at discounted price-points, occupy spaces of 1,600 sq.ft. in downtown store fronts, power and strip centers.  Plans call for 120 openings in the coming 18 months.  Expansion will take place nationwide.

 

Happy Harry's, Inc.

dba Happy Harry's Discount Drug

Ralph Larson

315 Ruther Drive

Newark, DE 19711

302-366-0335, Fax 453-3180

 

Drug Store

The 32-unit chain operates locations in DE, NJ and PA.  The drug stores occupy spaces of 10,000 sq.ft. in strip centers.  Plans call for as many as four openings in the coming 18 months.  Expansion will take place in the existing markets.

 

King Size Wash

Joe Delligatti

c/o J.W. Burke & Company

350 Lexington Avenue

New York, NY 10016

212-682-4300, Fax 682-1898

 

Dry Cleaners

The four-unit chain operates locations in NY.  The dry cleaners, which also feature a coin operated laundromat, occupy spaces of 1,500 sq.ft. to 2,500 sq.ft. in downtown store fronts, power and strip centers.  Plans call for nine openings in the coming 18 months.  Expansion will take place in the existing market.  The company is scouting Manhattan, the Bronx, Brooklyn, Queens and Long Island for locations.

 

J.R. Holcomb & Co.

dba Holcomb's Educational Material

Robert Krajnak

3205 Harvard Avenue

Cleveland, OH 44101

216-341-3000, Fax 341-5151

 

Educational

The 13-unit chain operates locations in OH and PA.  The stores, selling educational supplies and material, occupy spaces of 4,000 sq.ft. in strip centers.  Plans call for five openings in the coming 18 months.  Expansion will take place in the existing markets.  Leases running five years are typical.

 

Alrenco, Inc.

dba Alrenco

Bud Holladay

1736 East Main Street

New Albany, IN 47150

812-949-3370, Fax 948-2579

 

Electronics

The 67-unit chain operates locations in AL, AZ, FL, IN, KY, LA, MD, MS, OH, TN, VA and WV.  The stores, selling appliances, electronics, computers and home furnishings, occupy spaces of 3,000 sq.ft. to 3,500 sq.ft. in strip centers.  Plans call for as many as 25 openings in the coming 18 months.  Expansion will take place in the existing markets.  Most of the company's expansion will come through acquisitions.

 

Kerasotes Theater, Inc.

dba Kerasotes Theater

Steve Frishman

2 Mid America Plaza, Suite 330

Oakbrook Terrace, IL 60181

630-954-7300, Fax 954-7304

 

Entertainment

The 100-unit chain operates 300 screens throughout the Midwestern region.  The movie theaters occupy spaces of 40,000 sq.ft. in freestanding facilities on 10 acre parcels of land.  Growth opportunities are sought in the existing markets.  The company prefers to buy land and build its theaters.

 

The Tree Factory

dba Silk Plant Forest

Bill Wood

5639 Brookshire Boulevard

Charlotte, NC 28216

704-399-4446, Fax 399-0140

 

Florist

The nine-unit chain operates locations in GA, NC, SC, TN and VA.  The stores, selling silk plants, trees and garden decor items, occupy spaces of 3,000 sq.ft. in power and specialty centers.  Plans call for three openings in the coming 18 months.  Expansion will take place in the Mid-Atlantic, Northeastern and Southeastern regions.

 

Consolidated Stores, Inc.

dba Odd Lots, Big Lots

Jerry Large

300 Phillipi Road, Box 28512

Columbus, OH 43228

614-278-6715, Fax 278-6546

 

General Merchandise

The 600-unit chain operates locations in AL, FL, GA, IL, IN, IA, KS, LA, MD, MI, MO, NE, NC, NY, OH, OK, PA, SC, TN, TX, VA, WV and WI.  The general merchandise stores, which also sell close-out items, occupy spaces of 25,000 sq.ft. to 30,000 sq.ft. in freestanding facilities and strip centers.  Plans call for 80 openings in the coming 18 months.  Expansion will take place in the existing markets.

 

Hobby Lobby Stores

dba Hobby Lobby Creative Centers

Bill Darrow

7707 S.W. 44th Street

Oklahoma City, OK 73179

405-745-1650, Fax 682-6921

 

Hobby

The 126-unit chain operates locations in AR, CO, IA, KS, LA, MO, NE, NM, OK, TN and TX.  The stores, selling hobbies, arts and crafts, floral, fabric, frames and seasonal items, occupy spaces of 40,000 sq.ft. to 50,000 sq.ft. in freestanding facilities, power and strip centers.  Plans call for 30 openings in the coming 18 months.  Expansion will take place in AL, AR, CO, OK, TX, LA, KS, NM, NE, TN, MO, IA, SD, IL, IN, KY and MS.

 

King's of New Castle

dba King's Jewelry

Dale Perelmen

PO Box 630

New Castle, PA 16103

412-654-5531

 

Jewelry

The 35-unit chain operates locations in OH, PA and WV.  The jewelry stores occupy spaces of 1,100 sq.ft. to 1,500 sq.ft. in regional malls, outlet, power and strip centers.  Growth opportunities are sought in the existing market.

 

Jackson & Davenport Opticians

K. Richard Davenport

PO Box 20236

Charleston, SC 29413

803-722-4416, Fax 720-8984

 

Optical

The 28-unit chain operates locations in SC.  The optical stores occupy spaces of 1,200 sq.ft. to 2,800 sq.ft. in strip centers.  Growth opportunities are sought in the existing market.

 

Kit's Cameras, Inc.

dba Kit's Cameras

Mary Montross

6051 South 194th Street

Kent, WA 98032

206-872-3688, Fax 872-8419

 

Photo

The 140-unit chain operates locations in AK, AZ, CA, ID, NM, NV, OR and WA.  The stores, selling cameras and related equipment, occupy spaces of 1,200 sq.ft. to 1,600 sq.ft. in regional malls and large community centers.  Plans call for 50 openings in the coming 18 months.  Expansion will take place in the existing markets as well as in TX.

 

Dunhams Athleisure Corp.

dba Dunhams Sporting Goods

John Palmer

5000 Dixie Highway

Waterford, MI 48329

810-674-4991, Fax 674-4980

 

Sporting Goods

The 110-unit chain operates locations in MI, IN, OH, IL, WI, IA, PA, NY, MD and WV.  The sporting goods stores occupy spaces of 15,000 sq.ft. to 45,000 sq.ft. in freestanding facilities, power and strip centers.  Plans call for as many as 15 openings in the coming 18 months.  Expansion will take place in the existing markets as well as in MN and ND.

 

Smitty's Super Valu, Inc.

dba Smitty's

David La Bau

2231 East Camelback Road, 4th Floor

Phoenix, AZ 85016

602-262-1000, Fax 801-9011

 

Supermarket

The 28-unit chain operates locations in AZ.  The supermarkets occupy spaces of 70,000 sq.ft. to 105,000 sq.ft. in freestanding facilities and strip centers.  Plans call for three openings in the coming 18 months.  Expansion will take place in the existing market.

 

Funco, Inc.

dba Funcoland

Dick Crandall

10120 West 76th Street

Eden Prairie, MN 55344

612-946-7222, Fax 946-8136

 

Video Games

The 185-unit chain operates locations in CA, CT, IL, IN, KS, MD, MA, MI, MN, NY, PA, TX and Washington, D.C.  The stores, selling new and used video games, occupy spaces of 1,250 sq.ft. to 1,500 sq.ft. in power and strip centers.  Growth opportunities are sought nationwide.

 

 

Mergers & Acquisitions

 

Hardee's Restaurants' (919-977-2000) Utah franchisee Roger Peters recently sold 20 of his 26 Hardee's restaurants to two Burger King franchisors who plan to convert the units into Burger King restaurants.  Peters' remaining six units are expected to be sold to other fast food restaurant chains.  After all of the transactions are complete, there will be no Hardee's units left in UT.

 

Cotter & Company (773-695-5000), which does business under the True Value hardware name, and ServiStar Coast to Coast Corp. have agreed to merge the two companies to form a new co-op called TruServ Corp.  The newly formed company will have more than 10,500 independent retailer members who belong to the cooperative and is expected to have initial annual sales of $4.5 billion.  The merger is expected to help individual hardware stores battle Home Depot, Lowe's, Sears Hardware stores, Wal*Mart, etc. by allowing the co-op members buy goods at lower wholesale prices.  The savings, in turn, will be passed onto the consumer thereby making the indepedent dealer more competitive price-wise.

 

West Coast Entertainment Corporation (215-677-1000) recently signed a letter of intent to acquire the assets and business of Jumbo Entertainment, Canada's largest franchisor of video superstores for $9.5 million (Canadian).  Jumbo Video has 63 franchised stores in Ontario, Newfoundland, Nova Scotia, Manitoba, New Brunswick and British Columbia.  The acquisition is expected to close this month and will give West Coast 594 stores throughout North America.

 

The Italian Oven, Inc. (412-537-8340) recently reached an agreement in principle to sell substantially all of its assets to The Whitecliff Group, Inc. for $3.5 million plus the possibility of additional payments in the future.  Whitecliff is a Minneapolis, MN based merchant banker funded by private equity that has interests in real estate, hotels and other businesses.  The Italian Oven operates and franchises more than 80 Italian restaurants nationwide.  Currently, the company is operating under Chapter 11 protection.  Completion of the transaction is subject to the approval of both companies' boards of directors.

 

 

Food Tenants Seeking Locations Nationwide

 

Grill Concepts, Inc. trades as Daily Grill at six locations in CA.  The restaurants, featuring classic American favorite foods, occupy spaces of 4,000 sq.ft. to 6,000 sq.ft. in freestanding facilities, regional malls and specialty centers.  Plans call for as many as five openings annually.  Expansion will take place in CA, IL, NV and Washington, D.C.

  For more information, contact Bob Chais, Grill Concepts, Inc., 11661 San Vincente Boulevard, Suite 404, Los Angeles, CA 90049; 310-820-5559, Fax 820-6530.

 

Clinton's Restaurants, Inc. trades as Clinton's Restaurants at five locations in CA.  The restaurants occupy spaces of 10,000 sq.ft. in freestanding facilities and regional malls.  Growth opportunities are sought in the existing market.

  For more information, contact Donald H. Clinton, Clinton's Restaurants, Inc., 515 West 7th Street, Los Angeles, CA 90014; 213-485-1814, Fax 485-1827.

 

Islands Restaurant trades as Islands at 26 locations in AZ, CA and TX.  The restaurants, specializing in gourmet hamburgers, occupy spaces of 5,300 sq.ft. to 6,500 sq.ft. in freestanding facilities, regional malls and strip centers.  Plans call for as many as three openings in the coming 18 months.  Expansion will take place in the existing markets.

  For more information, contact Steve Demetor, Islands Restaurants, 101 North Acadia, Solana Beach, CA 92075; 619-350-2070, Fax 792-5387.

 

Euro Coffee operates 20 locations in CA.  The specialty coffee cafes occupy spaces of 2,000 sq.ft. in downtown store fronts, regional malls and specialty centers.  Plans call for the opening of four units in the coming 18 months.  Expansion will take place in the existing market.  Leases running 10 years are typical and the company requires a vanilla shell.

  For more information, contact the Director of Real Estate, Euro Coffee, 2127 Colby Avenue, Los Angeles, CA 90025-5306; 213-262-2121.

 

Marble Slab Creamery operates 52 locations throughout the Midwestern, Southern and Western regions.  The ice cream and yogurt restaurants occupy spaces of 1,100 sq.ft. in regional malls, power and strip centers.  Plans call for six openings in the coming 18 months.  Expansion will take place in AL, CA, CO, FL, GA, MO and NV.

  For more information, contact Ronald Hankamer, Jr., Marble Slab Creamery, 3100 South Gessner #305, Houston, TX 77063; 713-780-3601.

 

Kelly McCue's does business as Sports Bar & Billiards Club at one location in CA.  The restaurant and entertainment complex seeks spaces running 5,000 sq.ft. to 7,500 sq.ft. in freestanding facilities and strip centers.  Plans call for five openings in the coming 18 months.  Expansion will take place in the existing market.

  For more information, contact Dan Parker, Kelly McCue's, 3991 MacArthur Boulevard #125, Newport Beach, CA 92660; 714-859-3116, Fax 851-5168.

 

Louise's Trattoria operates 16 locations in CA and WI.  The Italian restaurants occupy spaces of 3,000 sq.ft. to 4,000 sq.ft. in regional malls, power, specialty and strip centers.  Space for patio seating is also required.  Plans call for as many as five openings in the coming 18 months.  Expansion will take place in the existing markets.  Preferred demographics include a population of 100,000 within five miles earning $40,000 as the average income.  Leases running 10 years are typical and the company prefers a vanilla shell.

  For more information, contact Howard Weinberg, Louise's Trattoria, 19750 South Vermont, Suite 220, Torrence, CA 90502; 310-366-2700, Fax 310-366-2714.

 

Jimboy Marketing, Inc. trades as Jimboy Tacos at 24 locations in CA and NV.  The Mexican restaurants occupy spaces of 2,000 sq.ft. in freestanding facilities and strip centers.  Plans call for six openings in the coming 18 months.  Expansion will take place in the existing markets.  The company is franchising.

  For more information, contact George Heath, Jimboy Marketing, Inc., 1485 Response Road, Suite 110, Sacramento, CA 95815; 916-564-8226, Fax 564-0802.

 

Independent Restaurant, Inc. does business as Scott's Seafood Grill & Bar at nine locations in CA and HI.  The seafood restaurants occupy spaces of 8,000 sq.ft. to 10,000 sq.ft. in freestanding facilities.  Growth opportunities are sought in the existing markets.

  For more information, contact Malcolm Stroud, Independent Restaurant, Inc., 2402 Lombard Street, San Francisco, CA 94123; 415-929-6919, Fax 929-1968.

 

Parker & Associates trades as Gold Coast Brewing Company at one location in CA.  The restaurant/brew pub is seeking spaces running 5,000 sq.ft. to 8,000 sq.ft. in downtown store fronts.  Growth opportunities are sought in the existing market.

  For more information, contact Dan Parker, Parker & Associates, 3991 MacArthur Boulevard, Suite 125, Newport Beach, CA 92660; 714-859-3116, Fax 851-5168.

 

Crocodile Enterprises, Inc. trades as Crocodile Express at 14 locations in AZ, CA and NV.  The restaurants occupy spaces of 5,000 sq.ft. in a variety of real estate settings.  Growth opportunities are sought in the existing markets.

  For more information, contact Glenn Rosen, Crocodile Enterprises, Inc., 234 East Colorado Boulevard #800, Pasadena, CA 91101; 818-796-4441, Fax 796-2929.

 

Acapulco Restaurants, Inc. trades as Acapulco at 46 locations in CA and OR.  The Mexican restaurants occupy spaces of 8,000 sq.ft. to 9,000 sq.ft. in freestanding facilities, regional malls, power, specialty and strip centers.  Plans call for as many as two openings during 1997.  Expansion will take place within the existing markets.

  For more information, contact Ana Maria Zander, Acapulco Restaurants, Inc., 4001 Via Oro, Suite 200, Long Beach, CA 90810-1400; 310-513-7500, Fax 835-3156.

 

Baja Chuy's Mesquite Broiler, Inc. does business as Chuy's Baja Broiler at 20 locations in AZ and CA.  The Mexican restaurants occupy spaces of 1,200 sq.ft. to 3,000 sq.ft. in freestanding facilities.  Plans call for as many as six openings in the coming 18 months.  Expansion will take place in AZ, CA, CO, NM and TX.

  For more information, contact Mike Dubreuil, Baja Chuy's Mesquite Broiler, Inc., 25289 The Old Road, Newhall, CA 91321; 800-342-4897, Fax 805-288-1470.

 

Del Taco, Inc. trades as Del Taco at 275 locations in AL, AZ, CA, GA, IL, MO, NH, NV and UT.  The Mexican-American fast food restaurants occupy spaces of 2,000 sq.ft. to 2,400 sq.ft. in freestanding facilities.  Preferred anchors include home improvement stores, discount stores and supermarkets.  Plans call for 50 openings in the coming 18 months.  Expansion will take place in CA, NV, NY and UT.  Leases running 20 years are typical and the company is franchising.

  For more information, contact James Farley, Del Taco, Inc., 23041 Avenida De La Carlata, Suite 400, La Guna Hills, CA 92653; 714-462-7431, Fax 462-7444.

 

Sam's Cafe operates 10 locations in AZ, CA, IL and TX.  The restaurants, serving Southwestern-style food, occupy spaces of 6,000 sq.ft. to 7,000 sq.ft. in freestanding facilities and end caps of strip centers.  Parking for 150 cars is required.  Preferred anchors include other restaurants.  Plans call for 10 openings in the coming 18 months.  Expansion will take place in the existing markets.

  For more information, contact Olga Gonzales, Sam's Cafe, 5710 LBJ Freeway, Suite 350, Dallas, TX 75240; 214-991-0509, Fax 991-2798.

 

Port of Subs, Inc. trades as Port of Subs at 80 locations in CA, NV and WA.  The restaurants, serving submarine sandwiches, occupy spaces of 1,000 sq.ft. to 1,500 sq.ft. in freestanding facilities and strip centers.  Plans call for 15 openings in the coming 18 months.  Expansion will take place in CA, CO, ID, OR, UT and WA.

  For more information, contact John Larsen, Port of Subs, Inc., 5365 Mae Anne Avenue, Suite A-29, Reno, NV 89523; 702-747-0555, Fax 747-1510.

 

Pasqua, Inc. trades as Pasqua Coffee Bars at 55 locations in CA and NY.  The specialty coffee bars occupy spaces of 250 sq.ft. to 2,500 sq.ft. in downtown store fronts.  Plans call for 35 openings in the coming 18 months.  Expansion will take place in the existing markets.

  For more information, contact Joe Gurdock, Pasqua, Inc., 75 Broadway, San Francisco, CA 94111; 415-955-1940, Ext. 141.

 

SWH Corporation trades as Mimi's Cafe at 25 locations in AZ and CA.  The family-style restaurants, serving breakfast, lunch and dinner, occupy spaces of 6,500 sq.ft. in freestanding facilities, power centers and regional malls.  Plans call for 10 openings in the coming 18 months.  Expansion will take place in AZ, CA and CO.  Preferred demographics include a population of 100,000 within three miles.  Leases running 20 years are typical.

  For more information, contact Dani Mayer, SWH Corporation, 17852 East 17th Street #108, Tustin, CA 92680; 714-455-9280, Fax 656-9284.

 

 

Buyers & Sellers of Commercial Properties

 

H. Stephen Kirschner, Inc. represents an investment group in the market to acquire portfolios of shopping centers with added value opportunity nationwide.  The investors prefer portfolios of $100 million minimum or one million sq.ft. minimum.  The company represents an investment firm seeking to acquire retail portfolios, with asking prices of at least $100 million, nationwide.  Properties may be distressed or stable, but value added opportunities are preferred.  Amenable to sellers with regard to tax issues such as capital gains, recapture or other problematic matters often affiliated with disposing of overleveraged and/or long term ownership assets.  The company represents an investment firm seeking to acquire portfolios of real estate, with asking prices of at least $50 million, nationwide.  The company also represents an investment firm seeking to acquire retail portfolios nationwide having a total square footage of at least one million sq.ft. and/or value of at least $50 million.  Portfolios with value added opportunities are preferred.

  For more information, contact H. Stephen Kirschner at (516-462-2200).

 

Equity Investment Group, L.L.C. recently acquired The Vineyards Shopping Center in Eastlake, OH.  The 144,970 sq.ft. project is anchored by Finast Foods, Just Closeouts and Blockbuster Video.  The center was acquired from Trotter-Kent for an undisclosed price.

  For more information, contact Linda Kotasek at (404-364-2984).

 

Menard Properties is selling its 52,000 sq.ft. building located adjacent to Empire Mall in Souix Falls, SD.  The site can also be leased.

  For details, contact Pat Flynn at (715-876-2224).

 

Roberts Equities Group is seeking to acquire retail properties in the NY, NJ and CT area.  Larger packages outside of this area will also be considered.  Preferred projects include single user retail buildings, strip centers and anchored strip centers to an aggregate value of $15 million per transaction.

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

 

Fuller and Company has the listing to sell Gateway Mall in Bismark, ND.  The 333,000 sq.ft. project is anchored by Sears, Menards and Osco Drugs and includes land for expansion as well as five developed pads.

  For more information, contact Gary Clark or Ron Allum at (303-292-3700).

 

General Growth Properties, Inc. recently acquired three shopping centers in MI from a private investor group led by Forbes-Cohen Properties.  The projects include the 831,000 sq.ft. Lansing Mall in Lansing, MI; the 540,000 sq.ft. Lakeview Square Mall in Battle Creek, MI; and the 465,000 sq.ft. Westwood Mall in Jackson, MI.  The total purchase price was $134 million.

  For more information, contact General Growth Properties, Inc. at (312-422-2300).

 

Grubb & Ellis of Florida has the listing to sell The Shoppes of Victoria Square in Lake Mary, FL.  The 53,960 sq.ft. project is anchored by Regal Cinemas.  The asking price is $3.8 million.

  For more information, contact Frederick Ellsworth or John DeRiggi at (813-223-6464), Fax (223-1212).

 

Mid-America Real Estate Corp. recently brokered the sale of two Jewel Foods outparcels, totalling two acres, in Orland Park, IL to Terraco, Inc.  The land sites are located in front of a new Jewel/Osco store at 159th Street and 94th Avenue.  Terraco plans to construct a total of 22,200 sq.ft. of retail space for Hollywood Video, Moto Photo, Great Clips and other tenants.  The company also brokered the sale of a 15,000 sq.ft. land site to the Aldi grocery chain for a new store at McHenry Shopping Center in Chicago, IL.

  For more information, contact Mid-America Real Estate Corp. at (630-954-7300).

 

Renaissance Properties brokered the sale of a 10,000 sq.ft. retail facility located on Route 18 in East Brunswick, NJ.  The buyer was an undisclosed major children's furniture store and the sale price was $1 million.

  For more information, contact Ian C. Barbour at (908-972-2900).

 

 

Space Place

 

California

 

Anaheim-  A 4,800 sq.ft. space is available for lease.  In Brea-  A 6,000 sq.ft. space is available for lease.  In Chico-  A 6,000 sq.ft. space is available for lease.  In Milpitas-  A 1,703 sq.ft. space is available for lease.  In Oxnard-  A 4,800 sq.ft. space is available for lease.  In Pasadena-  A 6,000 sq.ft. space is available for lease.  In San Francisco-  A 1,056 sq.ft. space is available for lease.  In Santa Ana-  A 6,000 sq.ft. space is available for lease.

  For details, contact Jim Mathews of Prime Locations at (214-991-7000).

 

Santa Fe Springs-  Santa Fe Springs Plaza has a freestanding 114,500 sq.ft. building available for lease.  In Vallejo-  Vallejo Center has a freestanding 116,805 sq.ft. building as well as two outlots available for lease.

  For details, contact Mary Ann Savarese of RD Management at (212-265-6600).

 

Illinois

 

Crystal Lake-  Twin Banks Marketplace is anchored by Home Depot, Circuit City, PetsMart, Super Trak Auto and Crown Books.  A 15,000 sq.ft. space is available for lease.

  For details, contact Harlem-Irving Companies at (773-625-3036).

 

Massachusetts

 

Watertown-  Watertown Mall is anchored by Stop 'N Shop, Walgreens, Bradlees, Gap and Old Country Buffet.  The 250,000 sq.ft. project has spaces of 4,900 sq.ft. and 11,700 sq.ft. available for lease.  Demographics include a five-mile population of 730,000 earning $57,000 as the average household income.

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

 

New Jersey

 

Bridgewater-  Raritan Plaza is anchored by Quick Chek, Easy Video and Raritan Savings Bank.  The 50,000 sq.ft. project has spaces of 1,300 sq.ft. and 2,000 sq.ft. available for lease.  Demographics include a five-mile population of 85,000 earning $75,000 as the average income.  In Roxbury-  Ledgewood Circle Shopping Center is anchored by Ramsey Outdoor, A&P Liquor and Woodworkers Warehouse.  Spaces of 950 sq.ft., 1,660 sq.ft., 3,000 sq.ft. and 3,600 sq.ft. as well as space in a 30,000 sq.ft. expansion area and a pad site are available for lease.  Demographics include a five-mile population of 95,000 earning $71,000 as the average income.  In Somerset-  Somerset Village is anchored by Boston Market.  The 50,000 sq.ft. project has spaces of 1,300 sq.ft. and 7,500 sq.ft. available for lease.  Demographics include a five-mile population of 115,000 earning $75,000 as the average income.

  For details, contact William Mooney or Larry Garber of Jeffrey Realty at (908-668-9600), Fax (668-5225).

 

New York

 

Kingston-  Shop N Save Plaza is anchored by Shop N Save.  The 89,000 sq.ft. project has 20,000 sq.ft. available for lease.  This space can be divided into units of 1,600 sq.ft.  Demographics include a trade area population of 98,199 earning $54,025 as the average household income.  The site is located across from Hudson Valley Mall.

  For details, contact Charter Realty & Development Corp. at (203-629-3939).

 

Ohio

 

Nelsonville-  Nelsonville Town Square is currently being redeveloped with a nature and outdoor theme.  The project has spaces available for lease suitable for outdoor clothing retailers as well as arts and crafts stores.  The site is located near Hocking College.

  For details, contact Dr. John Light, President of Hocking College at (614-753-3591, Ext. 2100), Fax (753-9018).

 

Pennsylvania

 

Delaware County-  Marple Crossroads Shopping Center is anchored by Marshalls, Circuit City, OfficeMax, Ross and AMC 10-plex theaters.  The project has a former Best Products store available for lease.

  For details, contact Jeffrey Blank & Associates at (215-887-5555).