Issue Number 14 for the week of April 18, 1997
[ Home ] [ Up ] [ Issue Number 1 for the week of January 17, 1997 ] [ Issue Number 2 for the week of January 24, 1997 ] [ Issue Number 3 for the week of January 31, 1997 ] [ Issue Number 4 for the week of February 7, 1997 ] [ Issue Number 5 for the week of February 14, 1997 ] [ Issue Number 6 for the week of February 21, 1997 ] [ Issue Number 7 for the week of February 28, 1997 ] [ Issue Number 8 for the week of March 7, 1997 ] [ Issue Number 9 for the week of March 14, 1997 ] [ Issue Number 10 for the week of March 21, 1997 ] [ Issue Number 11 for the week of March 28, 1997 ] [ Issue Number 12 for the week of April 4, 1997 ] [ Issue Number 13 for the week of April 11, 1997 ] [ Issue Number 14 for the week of April 18, 1997 ] [ Issue Number 15 for the week of April 25, 1997 ] [ Issue Number 16 for the week of May 2, 1997 ] [ Issue Number 17 for the week of May 9, 1997 ] [ Issue Number 19 for the week of May 30, 1997 ] [ Issue Number 20 for the week of June 6, 1997 ] [ Issue Number 21 for the week of June 13, 1997 ] [ Issue Number 22 for the week of June 20, 1997 ] [ Issue Number 23 for the week of June 27, 1997 ] [ Issue Number 24 for the week of July 11, 1997 ] [ Issue Number 25 for the week of July 18, 1997 ] [ Issue Number 26 for the week of July 25, 1997 ] [ Issue Number 27 for the week of August 1, 1997 ] [ Issue Number 28 for the week of August 8, 1997 ] [ Issue Number 29 for the week of August 15, 1997 ] [ Issue Number 30 for the week of August 22, 1997 ] [ Issue Number 31 for the week of August 29, 1997 ] [ Issue Number 32 for the week of September 5, 1997 ] [ Issue Number 33 for the week of September 12, 1997 ] [ Issue Number 34 for the week of September 19, 1997 ] [ Issue Number 36 for the week of October 6, 1997 ] [ Issue Number 37 for the week of October 10, 1997 ] [ Issue Number 38 for the week of October 17, 1997 ] [ Issue Number 39 for the week of October 24, 1997 ] [ Issue Number 40 for the week of November 7, 1997 ] [ Issue Number 41 for the week of November 14, 1997 ] [ Issue Number 42 for the week of November 21, 1997 ] [ Issue Number 43 for the week of November 28, 1997 ] [ Issue Number 44 for the week of December 5, 1997 ] [ Issue Number 45 from the week of December 12, 1997 ] [ Issue Number 46 for the week of December 12, 1997 ] [ Issue Numner 47 for the week of January 10, 1997 ]

 

The Dealmakers Issue Number 14 for the week of April 18, 1997.

Sporting Goods Retailers Looking To Add Stores

Jumbosports, Inc. trades as Jumbosports at 85 locations nationwide, except in the Northwest. The sporting goods stores occupy spaces of 50,000 sq.ft. to 65,000 sq.ft. in freestanding facilities. Plans call for 12 openings in the coming 18 months. Expansion will take place nationwide with the exception of the Northwestern region.

For more information, contact Ronald Sarrett, Jumbosports, Inc., 4701 West Hillsborough Avenue, Tampa, FL 33614; 813-886-9688, Fax 884-5291.

Hibbetts Sporting Goods, Inc. trades as Hibbetts Sporting Goods at 99 locations in AL, AR, FL, GA, IL, KY, LA, MO, MS, NC, SC, TN and VA. The sporting goods stores occupy spaces of 2,000 sq.ft. to 22,000 sq.ft. in power centers and regional malls. Preferred co-tenants include major department stores. Plans call for as many as 60 openings in the coming 18 months. Expansion will take place throughout the Southeastern region as well as in IN, OK, TX and WV. Preferred demographics include a population of 40,000 earning $25,000 as the average income in the trade area. Leases running five to seven years are typical and the company cites Champs and Footlocker as competition.

For more information, contact Bill Stevens or Dan Wibourn, Hibbetts Sporting Goods, Inc., 451 Industrial Lane, Birmingham, AL 35211; 205-942-4292, Fax 912-7290.

McSports operates 74 locations in IL, IN, KS, MI, MO and OH. The sporting goods stores occupy spaces of 15,000 sq.ft. to 18,000 sq.ft. in freestanding outparcels, power and strip centers. Preferred anchors include T.J. Maxx, Wal*Mart, book stores, office supply stores, craft stores and pet stores. Plans call for as many as 10 openings in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of 180,000 within 10 miles earning $45,000 as the average income. Leases running five years are typical and the company prefers a turn key building.

For more information, contact Terry Wickering, McSports, 3070 Shaffer S.E., Grand Rapids, MI 49512; 616-285-1602, Fax 942-2312.

Samson Sales, Inc. does business as Sam's World of Golf at 17 locations in MD, OH and PA. The stores, selling golf equipment and apparel, occupy spaces of 4,500 sq.ft. to 5,500 sq.ft. in strip centers. Preferred co-tenants include banks and sporting goods stores. Plans call for two openings in the coming 18 months. Expansion will take place in OH and PA. Leases running five years, with options, are typical.

For more information, contact Arnold Kohn, Samson Sales, Inc., 8754 Mentor Avenue, Mentor, OH 44060; 216-974-6540, Fax 974-6547.

 

Lease Signings

K. Hovnanian Investment Properties, Inc. (908-741-7810) leased 1,863 sq.ft. to GNC at Franklin Towne Center in Franklin, NJ.

Summit Realty Leasing and Management Corp. (561-368-2043) leased 55,593 sq.ft. of land to The Clock Restaurant in Deerfield Beach, FL; 1,840 sq.ft. to Manhattan Bagel in Collier County, FL and 4,650 sq.ft. to Somebody's House Restaurant in Bayonet Point, FL.

R.J. Waters & Associates, Inc. (610-358-1543) leased a total of 4,000 sq.ft. to Crafters Choice, Cafe Ole and Benedict Parenti, D.D.S. at The Village at Painters Crossing in Chadds Ford, PA.

Divaris Real Estate, Inc. (757-497-2113) leased 26,100 sq.ft. to Consolidated Stores at Hechinger Center in Richmond, VA.

West Venture Commercial (818-567-3100) leased 1,200 sq.ft. to High Desert Sports and 960 sq.ft. to Papa's Used Books and 900 sq.ft. to Contempo Nails at Palmdale Shopping Center in Palmdale, CA and 1,200 sq.ft. to Art's Fish and Tackle at Gateway Plaza in Gardena, CA.

Western Investment Real Estate Trust (916-791-0600) leased 1,080 sq.ft. to Folsom Weight Loss Center and 5,000 sq.ft. to Hollywood Video at Commonwealth Square Shopping Center in Folsom, CA.

Mid-America Real Estate Corp. (630-954-7300) leased 6,000 sq.ft. to West Marine at Park N' Shop in Michigan City, IN; 10,225 sq.ft. to Murray's Discount Auto at Market Plaza Shopping Center in Glen Ellyn, MI; 2,000 sq.ft. to Motherhood Maternity at Woodgrove Festival Shopping Center in Woodridge, IL; 1,005 sq.ft. to The Dog Barber at Plaza Verde Shopping Center in Buffalo Grove, IL; 11,005 sq.ft. to Super Trak and 2,470 sq.ft. to Rent-A-Center at Cermak Court in Chicago, IL; 4,240 sq.ft. to Streeterville Ace Hardware and 1,915 sq.ft. to Caribou Coffee at Clark Wellington Shopping Center in Chicago, IL and 2,000 sq.ft. to Cutting Edge 54 and 1,200 sq.ft. to Elk Cleaners at Elk Crossing Shopping Center in Elk Grove Village, IL. The company also leased four sites to Caribou Coffee in the Chicago, IL area. In addition, the company leased 9,897 sq.ft. to Erehwon Outfitters at Bannockburn Green Shopping Center in Bannockburn, IL; 6,000 sq.f.t to De Re Tire & Auto at Washington Park Plaza in Homewood, IL; 1,200 sq.ft. to Hair Design One at Market Plaza Shopping Center in Glen Ellyn, IL and 2,300 sq.ft. to Wolf Camera & Video at Gateway Square Shopping Center in Hinsdale, IL.

Boyd, Page & Associates (713-877-8400) leased 12,000 sq.ft. to Heart & Hands Crafts & Antiques Mall at Mason Village in Houston, TX.

Hiffman Shaffer Associates (312-332-3555) leased six spaces to GNC. They include 1,500 sq.ft. at Plaza Del Prado in Glenview, IL; 1,500 sq.ft. at Ogden Mall in Naperville, IL; 1,440 sq.ft. at Market Plaza in Glen Ellyn, IL; 1,421 sq.ft. at 42 E. Chicago Avenue in Chicago, IL; 1,227 sq.ft. at Long Meadow Commons in Mundelein, IL and 1,200 sq.ft. at York House Commons in Waukegan, IL.

 

Who's Opening and Where...

Eagle Hardware & Garden Center (206-227-5740) recently opened a 132,000 sq.ft. home improvement store in Tacoma, WA.

Michigan Brewery, Inc. (517-731-0401) recently opened a Big Buck Brewery and Steakhouse in Grand Rapids, MI.

Chief Auto Parts (310-921-2696) plans to open 5,000 sq.ft. auto parts stores in Mira Loma, Temecula, San Bernardino (two stores), Murrieta and Menifee, CA.

Sears, Roebuck and Co. (847-386-0545) is scouting for sites for its department stores in Detroit, MI; Philadelphia, PA; San Francisco, CA; Washington, D.C. and Chicago, IL.

Friday's Hospitality Worldwide, Inc. (214-450-5400) recently opened a T.G.I. Friday's restaurant in Jakarta, Indonesia.

Stein Mart, Inc. (904-346-1500) recently opened stores in San Jose, CA; Evansville, IN; Columbus and Toledo, OH; Johnson City, TN; Lewisville, Midland, San Antonio and Waco, TX; and Milwaukee, WI. The company is looking to open as many as 28 units overall this year.

Barnes & Noble, Inc. (212-633-3300) plans to open a 28,000 sq.ft. bookstore in Poughkeepsie, NY during October and recently opened a 21,875 sq.ft. bookstore in Glastonbury, CT.

Wal*Mart (501-273-4000) recently opened a 136,000 sq.ft. Supercenter in Central City, KY. The company also plans to expand its 90,000 sq.ft. Wal*Mart at Martinsburg Mall in Martinsburg, WV into a 204,000 sq.ft. Supercenter.

Boston Chicken (303-384-5172) plans to open a 3,000 sq.ft. Boston Market restaurant in Lawrence, KS and a 3,000 sq.ft. unit at Canyon Crest Towne Center in Riverside, CA.

K&G Men's Center, Inc. (404-351-7987) recently opened a men's clothing store at a former SNA Men's Clothing Warehouse location in Cherry Hill, NJ.

 

Financial News...

Metromedia Restaurant Group (214-404-5000) recently announced that it plans to combine its Ponderosa and Bonanza steakhouse chains into a single operating unit. However, both restaurant chains plan to continue to operate under their existing names. The plan will allow the advertising, marketing, purchasing and other corporate functions for the chains to be consolidated. Ponderosa operates 565 units and Bonanza operates 150 units.

50-Off Stores, Inc. (210-805-9300) announced that its Disclosure Statement has been approved by the bankruptcy court. The plan calls for a substantial reduction in principal and a lengthening of maturity of certain long-term debt; the issuance of at least 770,170 shares of convertible secured preferred stock to general unsecured creditors; the sale and issuance of up to 122,009 units, each consisting of 20 shares of 5.5% convertible preferred stock and 20 shares of new common stock, at $100 per unit, including issuance of rights to subscribe for and purchase such units on a first opportunity basis to current stockholders; the forgiveness of more than $28 million of pre-petition obligations of the company; and the canceling of all old common stock, warrants and options on the effective date of the plan of reorganization, which date should be 10 to 45 days after the plan is confirmed. The company, which filed for Chapter 11 protection last October, once operated 101 stores. It currently operates 41 stores in LA, NM, OK, TN and TX. A return to profitability is anticipated during its current fiscal year which ends January 30, 1998.

National Home Centers, Inc. (501-756-1700) reported that its net sales for its fiscal year increased 14% to $177 million from $154.7 million last year. Comparable store sales for the year increased five percent. However, the company reported a net loss of $3.1 million for its fiscal year, compared to a net loss of $1.6 million last year. The company operates 10 home improvement stores.

Clothestime, Inc. (714-779-5881) recently filed a reorganization plan to bring the company out of Chapter 11. The plan call for unsecured creditors to receive $3.5 million initially, about 15 cents on the dollar, and a 75% stake in the company. Managers will retain the other 25% share. Shareholders will not receive anything in the deal and their stock will be cancelled. Clothestime then plans to buy back the creditors's 75% stake for $4 million, payable over four years. In addition, the company is seeking $20 million in financing after it emerges from Chapter 11. For the year, the company posted a $31.6 million loss, down from a $43 million loss the previous year. Sales for the year were down 37% to $195 million.

Books-A-Million, Inc. (205-942-3737) reported that net sales for its fiscal year increased 21% to $278.6 million from $229.8 million. However, earnings fell two percent to $21.7 million from $22.1 million and net income was $5.8 million, down from $7.5 million. The company operates 151 bookstores in 17 states.

American Eagle Outfitters, Inc. (412-776-4857) reported that sales for its fiscal year increased 2.4% to $326.4 million from $318.8 million. Comparable store sales fell 1.8% for the year. Net income was $5.9 million compared to a net loss of $1.3 million the previous year. The company operates 306 stores in 39 states.

Spiegel, Inc. (708-769-2177) recently announced that it plans to mail its fall catalog on schedule in late June despite the company's current financial problems. The company announced that this year's 570-page catalog is a little over 20 pages short of last year's catalog. A published report earlier said that Spiegel was ending its "big book era," and a company official said in response that, "ending the catalog is categorically not true." In other news, the company reported that during fiscal 1996 it lost $13.4 million, almost $4 million more than FY95's loss of $9.5 million. While its Eddie Bauer retail store division posted record results, the catalog division was hurt by a low response.

Home Depot (770-433-8211) is test selling major appliances at stores in a "handful" of markets.

 

Lead Sheet

Heritage Sportswear, Inc.

dba The Joan Vass Signal Apparel

Ira Levi

PO Box 1060

Marion, SC 29571

803-423-5736, Fax 423-7922

Apparel

The three-unit chain operates locations in SC, TN and VA. The women's apparel stores occupy spaces of 1,700 sq.ft. to 2,100 sq.ft. in outlet centers. Growth opportunities are sought nationwide.

Revelation, Inc.

John Boone

3113 South Grand Avenue

Los Angeles, CA 90007

213-747-6351

Apparel

The 10-unit chain operates locations in CA. The stores, selling women's apparel and accessories at moderate price-points, occupy spaces of 1,000 sq.ft. to 1,200 sq.ft. in strip centers. Preferred anchors include supermarkets. Growth opportunities are sought in the existing market.

Monro Muffler

Joe Pacera

120 Haddon Avenue

Haddonfield, NJ 08033

609-216-9199, Fax 216-9313

Automotive

The 330-unit chain operates locations in CT, DE, GA, IN, MA, MD, ME, NC, NH, NJ, NY, OH, PA, RI, SC, VA, VT and WV. The automotive service centers occupy spaces of 4,500 sq.ft. in freestanding facilities. Plans call for 60 openings in the coming 18 months. Expansion will take place in the existing markets. The company also plans to expand through acquisitions.

Leshner Corp.

dba Cotton Mill Stores

Edward Reinhart

1010 Eaton Avenue

Hamilton, OH 45013

513-868-3500, Fax 868-1214

Bed & Bath

The eight-unit chain operates locations in OH. The stores, selling bed and bath items, occupy spaces of 4,000 sq.ft. in freestanding facilities, outlet, power, specialty and strip centers. Plans call for two openings in the coming 18 months. Expansion will take place in the existing market. Leases running three years are typical.

General Novelty Ltd.

dba Coach House Gifts, Reflections,

Its A Small World, Dollar World

Fritz Ieuter

420 East 58th Avenue

Denver, CO 80216

303-292-5537, Fax 296-1528

Cards & Gifts

The 165-unit chain operates locations nationwide. The stores, selling cards and gifts, occupy spaces of 3,000 sq.ft. to 6,000 sq.ft. in regional malls. Preferred anchors include Dillard's, Foley's and Broadway. Plans call for eight openings in the coming 18 months. Expansion will take place nationwide. Preferred demographics include a population of 50,000 within 25 miles earning $30,000 as the average income. Leases running 12 years are typical and the company cites Spencer's and Kirlin's as competition. Some of the openings may be relocations of existing stores.

The Electronics Boutique, Inc.

dba Electronics Boutique

J.J. Firestone

1345 Enterprise Drive

West Chester, PA 19380

610-430-8100, Fax 430-6574

Computer Software

The 532-unit chain operates locations worldwide. The stores, selling computer software, occupy spaces of 1,000 sq.ft. to 1,200 sq.ft. in regional malls. Plans call for 100 openings in the coming 18 months. Expansion will take place worldwide. Preferred demographics include a population of 100,000 within five miles earning $40,000 as the average income. Leases running 10 years are typical.

The Kroger Co.

dba Quick Shop

David Cleeves

PO Box 1927

Hutchingson, KS 67504-1927

Convenience Store

The 190-unit chain operates locations in IL, IA, KS, NE and OK. The convenience stores occupy spaces of 3,500 sq.ft. in freestanding facilities. Growth opportunities are sought in the existing markets.

Provo Craft/Novelty, Inc.

dba Roberts Arts & Crafts

Kevin Buckner

285 East 900 South

Provo, UT 84606

801-377-4311, Fax 373-1901

Crafts

The seven-unit chain operates locations in ID and UT. The stores, selling arts and crafts, occupy spaces of 25,000 sq.ft. in strip centers. Preferred co-tenants include any large retailer that draws a female clientele. Plans call for one opening in the coming 18 months. Expansion will take place in UT. 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 cites Michael's as competition.

Building #19, Inc.

dba Building #19

Lee MacDonald

19 Shipyard Drive

Hingham, MA 02043

617-749-6900, Fax 749-3691

Discount

The 13-unit chain operates locations in MA, NH and RI. The stores, selling surplus and salvage merchandise, occupy spaces of at least 60,000 sq.ft. in freestanding facilities. Plans call for as many as two openings in the coming 18 months. Expansion will take place within the existing markets.

Maxi Drug, Inc.

dba Brooks Pharmacy

Peter Schmitz

50 Service Avenue

Warwick, RI 02886

401-825-3931, Fax 825-3996

Drug Store

The 240-unit chain operates locations in CT, ME, MA, NH, RI and VT. The drug stores occupy spaces of 10,000 sq.ft. in freestanding facilities and strip centers. Plans call for 25 openings in the coming 18 months. Expansion will take place throughout New England. Preferred demographics include a population of 5,000 within one-half mile earning $50,000 as the average income. Leases running 10 years are typical and the company cites CVS and Walgreens as competition.

Singer Enterprises

dba Nickels & Dimes

Ron Kostellney

4534 Old Denton Road

Carrollton, TX 75008

214-492-3262, Fax 492-5705

Entertainment

The 208-unit chain operates locations nationwide and in Australia. The coin-operates arcades occupy spaces of 1,500 sq.f.t to 40,000 sq.ft. in regional malls. Plans call for two openings in the coming 18 months. Expansion will take place nationwide.

Superhair

Dan Durr, Tim Weber

c/o 1st Western Properties

PO Box 111148

Tacoma, WA 98411-1148

206-472-0404, Fax 472-0541

Hair Salon

The 20-unit chain operates locations in WA. The hair salons occupy spaces of 1,000 sq.ft. to 1,400 sq.ft. in strip centers. Preferred anchors include supermarkets. Plans call for two openings this year and three openings next year. Expansion will take place in the existing market.

Dansk International Designs

dba Dansk

Director of Real Estate

108 Corporate Park Drive

White Plains, NY 10604

914-697-6400, Fax 697-6464

Home Decor

The 68-unit chain operates locations nationwide. The stores, selling home decor items, occupy spaces of 3,000 sq.ft. to 4,000 sq.ft. in freestanding facilities, outlet and specialty centers. Plans call for five openings in the coming 18 months. Expansion will take place nationwide.

C.R. Wallauer Co., Inc.

dba Wallauer Decorating Store

Robert Duncan

30 Virginia Road

North White Plains, NY 10603

914-948-4000, Fax 948-0970

Home Improvement

The nine-unit chain operates locations in NY. The stores, selling paints, wallcoverings and window treatments, occupy spaces of 3,000 sq.ft. in freestanding facilities. Plans call for one opening in the coming 18 months. Expansion will take place in Westchester, NY. Preferred demographics include a population of 25,000 within four miles earning $60,000 as the average income. Leases running 10 years are typical and the company cites Sears, Sherwin Williams and Home Depot as competition.

America Direct Outlets, Inc.

dba Le Gourmet Chef

Robert Treloar

Woodbury Common

Central Valley, NY 10917

Fax 914-928-6620

Housewares

The 10-unit chain operates locations in CA, CT, GA, NJ, NY and OH. The stores, selling cooking related housewares, occupy spaces of 5,000 sq.ft. in outlet centers. Plans call for two openings in the coming 18 months. Expansion will take place in MA. The company prefers written proposals.

Art's Diamond Jewelers

dba Art's Jewelers

Alan Meltzer

201 North Market

Canton, OH 44702

330-455-5348, Fax 455-4155

Jewelry

The 10-unit chain operates locations in OH. The jewelry stores occupy spaces of 1,200 sq.ft. to 1,400 sq.ft. in regional malls and strip centers. Growth opportunities are sought in the existing market.

Jordan Kitt Music, Inc.

dba Jordan Kitt Music, Wilmington Piano,

Jordan Kitt's Temple of Music

R.J. Fugera

9520 Baltimore Boulevard

College Park, MD 20740

301-474-9500, Fax 474-3648

Music

The 13-unit chain operates locations in DE, MD, NJ, PA and VA. The stores, selling pianos and organs, occupy spaces of 2,000 sq.ft. to 8,000 sq.ft. in regional malls. Plans call for one opening in the coming 18 months. Expansion will take place in the Mid-Atlantic region. Leases running eight years are typical.

The Big Party Corporation

Walter Branson

c/o The Dartmouth Company

1457 VFW Parkway

West Roxbury, MA 02132

617-323-0822, Fax 323-5073

Party Supplies

The 24-unit chain operates locations in CT, FL, MA, NY and RI. The party supply stores occupy spaces of 8,000 sq.ft. to 10,000 sq.ft. in power and strip centers. Preferred co-tenants include women's and children's retailers. Plans call for 40 openings in the coming 18 months. Expansion will take place in New England and FL. Preferred demographics include a population of 75,000 within three miles earning $40,000 as the average income. Leases running 10 years are typical and the company, which prefers a vanilla shell, cites Party City as competition.

Petco Animals Supplies, Inc.

dba Petco

Marc Drasin

9125 Rehco Road

San Diego, CA 92121

619-453-7845, Ext. 3008, Fax 677-3002

Pet Store

The 341-unit chain operates locations in CA, WA, OR, TX, AZ, NJ, NY, MD, PA, VA, MA, DE, CT, NV, MN, SD, ND, WI IL, NH, RI and Washington, D.C. The stores, selling pets, pet food and supplies, occupy spaces of 15,000 sq.ft. to 18,000 sq.ft. in freestanding facilities and power centers. Preferred anchors include supermarkets, book stores, crafts stores, toy stores and promotional stores. Plans call for 75 openings in the coming 18 months. Expansion will take place in the Midwestern region. Preferred demographics include a population of 100,000 within three miles earning $45,000 as the median household income. Leases running 10 years are typical.

Shonac Corp.

dba Crown Shoes,

DSW Shoe Warehouse

John Rossler

1675 Watkins Road

Columbus, OH 43207

614-497-1199, Fax 497-1356

Shoes

The 34-unit chain operates locations in CO, OH, TX, MO, IN, MI, TN, PA, IL, NY, NJ, GA, WI, KY, KS, MD and CA. The stores, selling footwear for the entire family, occupy spaces of 6,000 sq.ft. to 20,000 sq.ft. in freestanding facilities, power and strip centers. Plans call for eight DSW Shoe Warehouse openings in the coming 18 months. Expansion will take place nationwide with an emphasis on AZ and MA.

Candleman Corp.

dba Candleman

Doug Wise

PO Box 731

Brainerd, MN 56401

218-829-0592, Fax 829-0929

Specialty

The 74-unit chain operates locations throughout North America. The stores, selling candles and related accessories, occupy spaces of 800 sq.ft. to 1,200 sq.ft. in regional malls. Plans call for 45 openings in the coming 18 months. Expansion will take place throughout North America.

Stater Bros. Markets

Walter Ford

PO Box 150

Colton, CA 92324

909-783-5002, Fax 783-5165

Supermarket

The 110-unit chain operates locations in CA. The supermarkets occupy spaces of 41,000 sq.ft. in strip centers. Growth opportunities are sought in the existing market.

Easy Video

Myron Maish

999 New Durham ROad

Edison, NJ 08817

908-248-1550, Fax 248-1647

Video

The 35-unit chain operates locations in NJ. The video stores occupy spaces of 2,500 sq.ft. to 4,000 sq.ft. in strip centers. Preferred anchors include supermarkets. Plans call for 10 openings in the coming 18 months. Expansion will take place in NJ and PA. Leases running 10 years are typical and the company, which is franchising, cites Blockbuster Video, West Coast and Hollywood Video as competition.

 

Exclusives: Leasing & Management Assignments

Montgomery Group Affiliates (610-825-7100) has been named the exclusive leasing agent for Festival at Exton Shopping Center in Exton, PA. The 150,000 sq.ft. project is anchored by Clemens Supermarket, Sears Paint and Hardware, House of Fabrics, Rite Aid and Applebee's Restaurant. Select availabilities exist for clothing, specialty foods, sporting goods, cards and gifts and other retailers. The site fronts Route 30 which generates a daily traffic count of 36,000 vehicles. Demographics include a five-mile population of 83,000 earning $69,000 as the average household income. The company also has been named the exclusive leasing and managing agent of Peachtree Plaza in Hammonton, NJ. The 110,000 sq.ft. project is anchored by Acme Supermarket and Eckerd Drugs. Montgomery plans to lease a former Jamesway Department store space and make cosmetic improvements to the project.

The Triad Group (617-566-2703) recently signed an exclusive leasing arrangement with G.P.B. Realty of Boston for 26 shopping centers. Fifteen of the projects are located in the greater Boston area with the remaining sites located in Springfield, Worcester, Westborough, Fall River, Cape Cod and North Providence.

 

Food Tenants Hungry for Sites

Piccadilly Cafeterias, Inc. trades as Piccadilly Cafeterias at 128 locations in AL, AZ, CA, FL, GA, KS, LA, MS, MO, NC, OK, SC, TN, TX and VA. The cafeteria-style restaurants occupy spaces of 10,000 sq.ft. in freestanding facilities and end caps of strip centers. Plans call for six openings in the coming 18 months. Expansion will take place within the existing markets.

For more information, contact Rick Fuchs, Piccadilly Cafeterias, Inc., 3232 Sherwood Forest Boulevard, Baton Rouge, LA 70821; 504-293-9440, Fax 296-8370.

Stuft Pizza Franchise Co. trades as Stuft Pizza at 32 locations in CA and OR. The restaurants, serving pizza sandwiches, salads and pasta, occupy spaces of 1,200 sq.ft. to 4,000 sq.ft. in freestanding facilities, regional malls and strip centers. Plans call for three openings in the coming 18 months. Expansion will take place in the existing markets. The company is franchising.

For more information, contact Jack Bertham, Stuft Pizza Franchise Co., 1040 Calla Cordillera #103, San Clemente, CA 92673; 714-361-2522, Fax 361-2501.

Jake's Pizza International operates 50 locations in AZ, FL, IL, IN, MO and NV. The pizza restaurants occupy spaces of 1,000 sq.ft. to 2,400 sq.ft. in strip centers. Growth opportunities are sought nationwide. Preferred demographics include a three-mile population of 20,000. Leases running five years are typical and the company is franchising.

For more information, contact John Varemis, Jake's Pizza International, 5999 New Wilkey Road, Suite 205, Rolling Meadows, IL 60008; 847-952-3278.

National Pizza Co. does business as Pizza Hut at 535 locations in AL, AR, GA, IL, IN, KS, KY, LA, MS, MO, NC, OK, TN and TX. The restaurants occupy spaces of 2,800 sq.ft. in freestanding facilities and strip centers. Plans call for 20 openings in the coming 18 months. Expansion will take place in the existing markets.

For more information, contact Ron Yartz, National Pizza Co., 720 West 20th Street, Pittsburg, KS 66762; 316-231-3390, Ext. 147, Fax 231-1188.

Perkins Family Restaurants operates 470 locations nationwide. The family restaurants occupy spaces of 4,000 sq.ft. to 6,000 sq.ft. in freestanding facilities. Plans call for as many as 35 openings in the coming 18 months. Expansion will take place nationwide. The company is franchising.

For more information, contact Jim Barrett (Eastern sites) or Harrison Wires (Western sites), Perkins Family Restaurants, 6075 Poplar Avenue, Suite 800, Memphis, TN 38119; 901-766-6400, Fax 753-7100.

Popeye's Famous Fried Chicken operates 1,100 locations worldwide. The fast food chicken restaurants occupy spaces of 800 sq.ft. to 1,500 sq.ft. in strip centers and regional malls and 2,000 sq.ft. to 2,500 sq.ft. in freestanding facilities. Plans call for as many as 175 openings in the coming 18 months. Expansion will take place worldwide. The company is franchising.

For more information, contact Bob Naderhoff, Popeye's Famous Fried Chicken, 6 Concourse Parkway, Suite 1600, Atlanta, GA 30328; 770-353-3148, Fax 353-3092.

U.S. Restaurants, Inc. does business as Burger King, Ponderosa, Rib-It and East Side Mario's at 60 locations in NJ and PA. The restaurants occupy freestanding facilities on pad sites running 1.5 acres. Plans call for as many as six openings in the coming 18 months. Expansion will take place in the existing markets.

For more information, contact Henry White, U.S. Restaurants, Inc., 1780 Swede Road, Blue Bell, PA 19422; 610-277-4200, Fax 277-5160.

Restaurants Management Group trades as Malone's Grill & Bar at five locations in GA. The restaurants occupy spaces of 5,000 sq.ft. to 6,000 sq.ft. in downtown store fronts, freestanding facilities and regional malls. Plans call for as many as two openings in the coming 18 months. Expansion will take place in either AL, FL, GA, NC, SC or TN.

For more information, contact Ashiq Delawalla, Restaurant Management Group, 5300 Oakbrook Parkway #200, Norcross, GA 30093; 770-381-5300, Fax 381-8070.

Zuzu Franchise, Inc. trades as Zuzu at 40 locations in AR, CO, FL, KY, LA, NM, OK, TN and TX. The Mexican restaurants occupy spaces of 1,500 sq.ft. to 2,200 sq.ft. in freestanding facilities, regional malls and strip centers. Plans call for 20 openings in the coming 18 months. Expansion will take place nationwide, excluding NC and VA. The company is franchising.

For more information, contact Dick Pryor, Zuzu Franchise, Inc., 2651 North Harwood Street #200, Dallas, TX 75201; 214-922-8226, Fax 720-1332.

 

Real Estate Professionals Making The News

Quality Dining, Inc. (219-271-4600) announces the appointment of Nordahl L. Brue, Michael J. Dressell and David T. Austin to the company's board of directors. Mr. Brue and Mr. Dressell are the co-founders of Bruegger's Bagel Bakery and Mr. Austin is a partner with the law firm of Sheehey Brue Gray & Furlong.

The Monroe Company (813-898-4810) was recently formed by Peter Monroe. The company will specialize in retail development and provide brokerage services such as packaging shopping centers, sale or purchase, on behalf of institutional buyers such as portfolios of REITs, insurance companies, pension funds and private investors. Prior to opening his own company, Monroe was president of the specialty development division of Sembler Company. He also served for three years as president of the RTC Oversight Board in Washington, D.C., under Presidents Bush and Clinton.

The Linder Company (317-844-5313) announces the appointment of Jim Horwitz as leasing representative. He will specialize in retail tenant representation and project marketing assignments.

CB Commercial Real Estate Services Group, Inc. (213-613-3227) announces that John C. Haeckel has been named chief financial officer. Haeckel previously served as executive vice president and chief financial officer of Broadway Stores, Inc.

Hiffman Shaffer Associates, Inc. (312-332-3555) announces that Richard Wolf has joined the company as vice president of corporate services, a new division of HSA. In his new position, Wolf will support the company's retail, industrial and office divisions as well as the property management group.

 

Space Place

New Jersey

Lincoln Park- Spaces from 1,350 sq.ft. to 2,300 sq.ft. is available for lease at a shopping center anchored by Cost Cutters, McDonald's and Carvel.

For details, contact Anthony Vita of Vita & Vita Realty Corp. at (201-227-5233), email (vvrcorp@aol. com).

New York

Rochester- Erie Canal Commons has a 93,000 sq.ft. space available for lease. Demographics include a five-mile population of 228,000 earning $45,000 as the average family income. The site is located near the Mall at Greece Ridge Center.

For details, contact Teresa Gollel of Richard Gollel & Cos., Inc. at (716-225-6360), Fax (225-5164).

Ohio

Boardman- A 20,000 sq.ft. former restaurant is available for lease. In Cleveland- A 6,000 sq.ft. former restuarant is available for lease.

For details, contact J.J. Herman & Associates at (216-663-0088).

Mason- Shoppes of Mason is anchored by Kroger. The project has spaces of 1,400 sq.ft. and 6,000 sq.ft., as well as an outlot, available for lease. Demographics include a five-mile population of 46,709 earning $57,316 as the average income. Also in Mason- White Blossom Shopping Center is anchored by United Dairy Farmers. The 30,000 sq.ft. project has spaces available for lease. Demographics include a three-mile population of 38,438 earning $68,459 as the average income. In Milford- A 3,000 sq.ft. former McDonald's restaurant is available for lease. In West Chester- Beckett Commons is anchored by Kroger. The project has spaces of 1,400 sq.ft. and 15,000 sq.ft., as well as an outlot, available for lease. Demographics include a five-mile population of 108,474 earning $55,979 as the average income.

For details, contact David Birdsall of Midland Group at (513-891-2323), Fax (891-2467).

Oregon

Salem- A 73,875 sq.ft. shopping center is planned to be developed. Anchor spaces from 35,000 sq.ft. to 55,000 sq.ft., as well as inline spaces from 1,750 sq.ft. to 13,000 sq.ft., are available for lease.

For details, contact Bo Rushing of The Prudential Real Estate Professionals at (503-371-1234).

Pennsylvania

Leechburg- Allegheny Plaza is anchored by Shop 'N Bag, Big Lots and Multi-Plex Cinemas. The 92,000 sq.ft. project has spaces of 3,500 sq.ft. and 7,000 sq.ft. available for lease. Demographics include a five-mile population of 35,000 earning $32,000 as the average household income. In Philadelphia- Blue Bell Shopping Center is anchored by Shop 'N Bag, Rite Aid and a U.S. Post Office. The 43,000 sq.ft. project has a 2,400 sq.ft. end cap space with a drive thru window available for lease. Demographics include a five-mile population of 747,821 eaerning $25,766 as the average household income.

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

Virginia

Newport News- Yoder Farms Shopping Center is anchored by Target, Toys 'R Us, Circuit City, OfficeMax, PetsMart, Barnes & Noble, Chick-Fil-A, Don Pablo's Mexican Restaurant and Krispy Kreme. The 390,000 sq.ft. project has spaces from 2,000 sq.ft. to 13,000 sq.ft, an anchor space of 40,000 sq.ft. between Target and Toys 'R Us and two outparcels, one 1.49 acres and the other .89 acre, available for lease. The site is located adjacent to Patrick Henry Mall.

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

 

Buyers & Sellers of Commercial Properties

Moody Rambin represented Elm Company & Charter Company in its sale of a 2,000 sq.ft. freestanding building on 10,000 sq.ft. of land in Houston, TX. The purchaser was Mayco Muffler. The company also represented Wyndham Company-1987 is its sale of a 2,200 sq.ft. freestanding building on 15,648 sq.ft. of land in Houston, TX. The purchaser was Ultimate Automotive.

For more information, contact Joan Collum or Ed James at (713-773-5512), Fax (773-5595).

The Schultz Brokerage Services Group has the listing from Riva Financial to sell eight former gas station sites throughout NJ. The sites are being marketed as potential retail and bank locations. Five of the sites are offered with existing service stations and three are vacant land parcels. All of the properties are located on major highways and offer the potential for various usages.

For more information, contact The Schultz Organization at (908-855-0001).

Faison Orlando brokered the sale of 1.68 acres of commercial retail property in Port Orange to 3A, L.L.C. for $375,000. A 3,680 sq.ft. Tuffy Automotive store is expected to open during September on half of the site. A second tenant is being sought for the other half.

For more information, contact Frank W. Herring, Jr. at (407-425-9700).

Jeffrey Realty, Inc. brokered the sale of a former Ko-Shing restaurant in Mountainside, NJ to a developer for Lonestar Restaurants. The 6,500 sq.ft. project will be renovated and converted into a Lonestar restaurant. The company also brokered the sale of an 80,000 sq.ft. shopping center located in the border of Newark and Livington, NJ. The project, which is anchored by Pathmark, Fashion Bug, Rent-A-Center, Carvel and Subway, was acquired by Eastman Construction. The company also brokered the sale of an 11,000 sq.ft. building on Route 22 West in North Plainfield, NJ. The site will be renovated and expanded to accommodate a freestanding retailer.

For more information, contact Bruce Jeffrey at (908-668-9600).

Heitman has the listing to sell a Rite Aid drug store in Murray, KY. The project has an NOI of $180,000. The asking price is $2 million.

For more information, contact Jeff Frankel at (312-251-5420), Fax (541-6737).

 

Store Closings

Darden Restaurants (407-245-4000) recently closed 36 restaurants (24 Red Lobsters and 12 Olive Gardens) nationwide in an effort to cut poorly performing locations.

Mervyn's (510-786-8581) recently closed its 84,000 sq.ft. department store in downtown San Bernardino, CA because the unit failed to meet the company's sales expectations.

Pathmark Stores, Inc. (908-499-3205) plans to close and sell 12 supermarkets in NJ before the end of the Summer. The stores are being disposed of because they are unprofitable.

Service Merchandise Co., Inc. (615-660-3923) plans to close 60 stores nationwide, with a majority located in the western region, specifically CA. The stores are being closed because they are unprofitable and the company plans to redirect the capital saved from the closings into its more profitable stores. In addition, the company is closing its Las Vegas, NV distribution center and laying off 3,300 workers. On the bright side, the company plans to open five stores during Spring.

Camlot Corp. (214-733-3005) recently closed its six Software Cost + 10% stores in Dallas, TX. The stores, originally named Mr. CD-ROM, were part of a company plan to open 100 stores nationwide, but the concept failed and the company decided to pull the plug.

The plan calls for a substantial reduction in principal and a lengthening of maturity of certain long-term debt; the issuance of at least 770,170 shares of convertible secured preferred stock to general unsecured creditors; the sale and issuance of up to 122,009 units, each consisting of 20 shares of 5.5% convertible preferred stock an