Issue Number 15 for the week of April 25, 1997
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The Dealmakers Issue Number 15 for the week of April 25, 1997.

Department Stores Expanding Nationwide

Kohl's Department Stores operates 159 locations in DE, IA, IL, IN, KS, KY, MD, MI, MN, MO, NC, ND, NJ, OH, PA, SD, VA and WI. The discount department stores occupy spaces of 75,000 sq.ft. to 100,000 sq.ft. in freestanding facilities, regional malls and strip centers. Plans call for as many as 35 openings in the coming 18 months. Expansion will take place in the existing markets.

For more information, contact the Director of Real Estate, Kohl's Department Stores, N 56 W17000 Ridgewood Drive, Menomonee Falls, WI 53051; 414-703-7000, Fax 703-6501.

Solo Serve Corp. trades as Solo Serve at 28 locations in AL, LA and TX. The department stores, selling soft goods at off price points, occupy spaces of 25,000 sq.ft. to 30,000 sq.ft. in strip centers. Growth opportunities are sought in the existing markets.

For more information, contact Ross Bacon, Solo Serve Corp., 1610 Cornerway Boulevard, San Antonio, TX 78219; 210-662-6262, Fax 662-6461.

Hills Stores Company trades as Hills at 155 locations in IL, IN, KY, MD, MA, NY, NC, OH, PA, TN, VA and WV. The discount department stores occupy spaces of 80,000 sq.ft. to 100,000 sq.ft. in regional malls, power and strip centers. Preferred co-tenants include supermarkets. Plans call for as many as 10 openings in the coming 18 months. Expansion will take place in NY, OH, PA, WV and IN. Preferred demographics include a population of 70,000 within 10 miles earning $30,000 to $50,000 as the average income. Leases running 10 years are typical and the company cites Kmart, Target and Wal*Mart as competition.

For more information, contact Donald Orlando, Hills Stores Company, 3010 Green Garden Road, Aliquippa, PA 15001; 412-378-0511, Ext. 321, Fax 378-4250.

Ames Department Stores, Inc. trades as Ames Department Store at 303 locations in CT, DE, ME, MD, MA, NH, NJ, NY, OH, PA, RI, VT, VA, WV and Washington, D.C. The discount department stores occupy spaces of 65,000 sq.ft. in regional malls, power and strip centers. Growth opportunities are sought in the existing markets.

For more information, contact John Hills, Ames Department Stores, Inc., 2418 Main Street, Rocky Hill, CT 06067-2598; 860-257-2598, Fax 257-5160.

The May Department Store Company trades as L.S Ayres at 15 locations in IL, IN and MO. The department stores occupy spaces of at least 100,000 sq.ft. in downtown store fronts and regional malls. Growth opportunities are sought in the existing markets.

For more information, contact R. Dean Wolfe, The May Department Store Company, 601 Olive Street, St. Louis, MO 63101; 314-444-3111, Fax 444-2716.

 

Bankruptcy Update

Edison Brothers, Inc.'s (314-331-6000) creditors should recover 92 cents on the dollar for their $444 million in claims, according to the company's disclosure statement reently filed with the bankruptcy court. A hearing on the plan is expected take place next month. The company also announced that it expects to emerge from bankruptcy during July or August with a reorganization value of $250 million, of which $117.4 million will be debt. The company's current stock will be worthless, but current stockholders will receive warrants enabling them to buy the new stock. Creditors, made up of mainly banks and insurance companies, will get the new stock and control of the company. The company plans to grow from 1,745 stores to 1,816 stores by the end of 1999 and will invest $125 million in capital expenditures.

Bradlees, Inc. (617-380-5863), which is operating under Chapter 11 protection, announced that its total sales for fiscal 1996 were $1.62 billion, down from $1.84 billion during fiscal 1995. Comparable stores sales fell 5.4% for the year. A net loss of $218.8 million was reported for FY96, compared to a net loss of $207.4 million during FY95. The company, which earlier this year received an extension to file its exclusive right of reorganization to August, 1997, announced that is has received a one-year extension of its $200 million debtor-in-possession financing agreement extending it until June 1998. Bankruptcy court approval is required.

L&G Enterprises, Inc. (757-465-3375), which operates three pet stores trading as Pets Warehouse in Chesapeake and Virginia Beach, VA, recently announced that it has filed for bankruptcy and closed three stores in Virginia Beach, VA; Hampton, VA and Kitty Hawk, NC. The company's filing came about, in part, from increased competition, especially from PetsMart who recently entered the market.

Tuscany Bagels & Coffee (206-292-9280) recently filed for Chapter 11 protection and closed all 28 stores nationwide. The company plans to liquidate and filed for Chapter 11 to enable it to quickly sell its assets. The bankruptcy filing was prompted after the company failed to complete a public stock offering where it was looking to raise $7.3 million.

 

Food Tenants Hungry for Sites Nationwide

N.U. Pizza Holding Corporation trades as Numero Uno at 50 locations in CA. The restaurants occupy spaces of 2,200 sq.ft. in freestanding facilities. Plans call for the opening of four units in the coming 18 months. Expansion will take place in the existing market.

For more information, contact Ron Gilet or Dan Rouse, N.U. Pizza Holding Corporation, 15414 Cabrito Avenue, Suite A, Van Nuys, CA 91406; 818-778-0011, Fax 778-0026.

Valley Dairy operates 13 locations in PA. The family restaurants occupy spaces of 2,400 sq.ft. to 3,500 sq.ft. in freestanding facilities, regional malls and strip centers. Plans call for as many as two openings in the coming 18 months. Expansion will take place in western PA.

For more information, contact Joe Greubel, Valley Dairy, 1914 Ligonier Street, Latrobe, PA 15650; 412-537-7111.

Bess Eaton Donut Flour Company, Inc. does business as Bess Eaton Coffee Shop And Bakery at 56 locations in CT, MA and RI. The restaurants, serving coffee and baked goods, occupy spaces of 2,000 sq.ft. in freestanding facilities. Plans call for six openings in the coming 18 months. Expansion will take place in the existing markets. Leases running 10 years are typical and the company caters to a.m. commuters.

For more information, contact Timothy Londregan, Bess Eaton Donut Flour Company, Inc., c/o Lexington Partners, LLC, One Corporate Center, 17th Floor, Hartford, CT 06103; 860-520-1000, Fax 520-1009.

Southwest Foods, Inc. trades as Claim Jumper at 19 locations in CA and CO. The dinner restaurants occupy spaces of 10,000 sq.ft. to 11,000 sq.ft. in freestanding facilities, power and specialty centers. Plans call for as many as four openings in the coming 18 months. Expansion will take place in AZ, CA, CO, NV, NM or WA.

For more information, contact Bill Hustedt, Southwest Foods, Inc., 16721 Milliken Avenue, Irvine, CA 92714; 714-756-9001, Fax 756-8733.

Bridgeman's Restaurant, Inc. trades as Bridgeman's Original Ice Cream Restaurant at 32 locations in IA, MN, ND and WI. The full service family restaurants occupy spaces of 4,000 sq.ft. in freestanding facilities. Plans call for as many as six openings in the coming 18 months. Expansion will take place in the existing markets.

The company also trades as Bridgeman's Soda Fountains at nine locations in IA, MN, ND and WI. The restaurants, featuring a limited menu and ice cream-oriented treats, occupy spaces of 2,000 sq.ft. to 3,000 sq.ft. in freestanding facilities and strip centers. Plans call for as many as four openings in the coming 18 months. Expansion will take place in the existing markets.

For more information on the above two companies, contact Steve Lampi, Bridgeman's Restaurant, Inc., 5700 Smetana Drive #110, Minnetonka, MN 55343; 612-931-3099, Fax 931-3199.

Smoothie King Franchises, Inc. trades as Smoothie King at 111 locations in AL, AK, AZ, CA, FL, GA, LA, LA, MD, NC, SC, TN, TX, VA and Washington, D.C. The restaurants, serving smoothies and nutritional drinks, occupy spaces of 800 sq.ft. to 1,200 sq.ft. in freestanding facilities, regional malls, power and strip centers. Plans call for at least 50 openings in the coming 18 months. Expansion will take place in FL, MD, NC, SC, TN, TX, VA and Washington, D.C. The company is franchising and co-branding.

For more information, contact Richard Leveille, Smoothie King Franchises, Inc., 2400 Veterans Boulevard, Suite 110, Kenner, LA 70065; 504-467-4006, Ext. 101, Fax 469-1274.

Macheezmo Mouse Restaurants trades as Macheezmo Mouse at 19 locations in OR and WA. The restaurants, serving healthy Mexican food and specialities as well as international wraps, occupy spaces of 1,000 sq.ft. to 1,800 sq.ft. in freestanding facilities, food courts of regional malls and strip centers. Plans call for as many as four openings in the coming 18 months. Expansion will take place in OR and WA. Sites in northern CA will also be considered. The company may begin franchising its concept within the next 18 months.

For more information, contact William Warren, Macheezmo Mouse Restaurants, 1020 S.W. Taylor, Suite 685, Portland, OR 97205; 503-274-0001, Fax 274-4369.

The Great Cookie Ltd. trades as The Great Cookie at eight locations in MD. The stores, selling cookies, muffins and cinnamon rolls, occupy spaces 700 sq.ft. in regional malls and specialty centers. Growth opportunities are sought in the existing market.

For more information, contact Bob Mulfinger, The Great Cookie Ltd., 45 New Plant Court, Owings Mills, MD 21117; 410-363-3370, Fax 581-0884.

Quality Dining, Inc. does business as Brueggers Bagel Bakery at 460 locations nationwide. The stores, offering fresh bagels and bagel sandwiches, occupy spaces of 1,600 sq.ft. to 2,200 sq.ft. in regional malls and strip centers. Plans call for 325 openings in the coming 18 months. Expansion will take place nationwide. Preferred demographics include a population of 15,000 within one mile earning $35,000 as the average income. Leases running five years are typical.

For more information, contact Clark Knippers, Quality Dining, Inc., 4220 Edison Lakes Parkway, Mishawaka, IN 46545; 219-271-4600, Fax 271-4613.

Coffee People, Inc. trades as Coffee People at 29 locations in CA, CO and OR. The stores, selling coffee and fresh baked goods, occupy spaces of 1,500 sq.ft. to 2,000 sq.ft. in downtown store fronts and freestanding facilities. Growth opportunities are sought in CA, CO, OR, WA and the Chicago, IL area.

For more information, contact Steve Crantz, Coffee People, Inc., 1500 SW Koll Parkway, Suite J, Beaverton, OR 97006; 503-672-9603, Fax 672-9013.

Kilwins Quality Confections, Inc. does business as Kilwins Chocolates, Fudge & Ice Cream at 30 locations in FL, IL, MI, NC, PA, SC and WI. The stores, featuring chocolates, fudge and ice cream, occupy spaces of 1,000 sq.ft. to 2,000 sq.ft. in resort areas. Plans call for as many as five openings in the coming 18 months. Expansion will take place within the existing markets as well as in OH.

For more information, contact Don McCarty, Kilwins Quality Confections, Inc., 355 North Division Road, Petoskey, MI 49770; 616-347-3800, Fax 347-6951.

 

Mergers & Acquisitions

Staples (508-370-8500) and Office Depot (561-265-4258) have had their proposed merger rejected by the Federal Trade Commission on the basis that prices paid by consumers would increase. "If the merger is allowed to proceed, consumers will pay millions of dollars more for their copy paper, envelopes, pens and file folders," said William J. Baer, director of the FTC's Bureau of Competition. Baer further stated, "What affects pricing at the superstores is the presence of other superstores." In reaching its decision, the FTC conducted a survey which found that prices were lower in markets with three competitors. For example, in Orlando, a market where Staples, Office Depot and OfficeMax compete, Office Depot charges $1.95 for file folders. However, 50 miles away in Leesburg, where Office Depot is alone, the same folders cost $4.17. Staples countered with a survey of its own which found that copy paper in Florence, SC, where it competes with Office Depot, was priced at $21.99, but that the same paper was priced at $20.99 in Sumter, SC where they don't compete. The FTC also voted to reject a compromise agreement in which the two companies would have sold 63 stores to OfficeMax in order to maintain two competitors in several markets. In response to the FTC's ruling, Staples and Office Depot said that they plan to fight the decision in court and will seek an expedited court hearing to resolve the issue before the merger proposal expires on May 31. In announcing the court action, Staples CEO Thomas Stemberg said, "We believe an unbiased court of law will understand the merits of our case. The FTC clearly lacks an understanding of the office products industry." Stemberg added that the merged company would have less than six percent market share in the $185 billion office products industry. The two contend that as one company they will be able to take advantage of enormous cost reductions and efficiencies in buying, distribution, operations and marketing which means significant savings will be passed on to consumers in the form of lower prices.

Randalls Food Markets, Inc. (713-268-3652) and Kohlberg Kravis Roberts & Co. (KKR) recently signed a definitive agreement under which an affiliate of KKR will acquire a majority interest in Randalls. In connection with the agreement, KKR's affiliate will make an equity investment of $225 million, which will enable Randalls to reduce its indebtedness and position itself for future growth. In addition to lowering its debt, the deal will allow Randalls to remodel existing stores and open new stores. Randalls operates 54 Randalls stores in the Houston, TX area, 16 Randalls stores in the Austin, TX area and 51 Tom Thumb stores in the Dallas-Fort Worth, TX area. The deal is expected to close during June.

Waban, Inc. (508-651-6063) and Kmart Corp. (810-643-1000) have announced that discussions with Leonard Green & Partners, L.P. to combine Waban's HomeBase stores with Kmart's Builders Square stores, have been terminated. Waban instead plans to proceed with a plan to spin-off its BJ's Wholesale Club division, leaving HomeBase as a separate, publicly traded company. Kmart and Leonard Green & Partners plan to pursue other alternatives. HomeBase operates 84 stores and Builder's Square operates 168 stores.

ShopKo Stores, Inc. (414-497-2211) and Phar-Mor, Inc. (330-746-6641) recently announced that two companies have terminated their proposed merger agreement and will instead pursue their respective goals separately. ShopKo operates 130 stores in 15 states and Phar-Mor operates 103 stores in 18 states.

U.S. Restaurant Properties M.L.P. (972-387-1487) recently acquired the land and buildings of 12 restaurants in three separate transactions valued at $6.8 million. The acquired sites include three Schlotzsky's, two Pizza Huts, one Popeye's and six regional restaurants. The transaction gives U.S. Restaurant Properties 359 units in 44 states.

AFC Enterprises (404-391-9500) announces that it recently sold 100 Churchs Chicken restaurants to Atlanta Franchise Development Co. for $32 million. Atlanta Franchise Development plans to at least double the number of locations in each of the 11 cities where it bought restaurants.

 

Who's Opening and Where...

Lucille Roberts Health Clubs (212-734-0500) recently opened a 7,600 sq.ft. women's fitness center at Pell Plaza in Commack, NY. The company plans to open an 8,000 sq.ft. health club at Crossroads Plaza in Stonybrook, NY next month.

Liquidation World, Inc. (403-250-1222) recently opened a 36,000 sq.ft. store at Alberni Mall in Port Alberni, British Columbia and a 16,000 sq.ft. store at West Hawk Building in Nanimo, British Columbia. The company, which operates stores throughout North America, specializing in solving inventory problems for banks, receivers, insurance companies and other organizations.

Home Depot (770-433-8211), which recently announced that it plans to enter the Milwaukee, WI market this year, has announced that it plans to open seven stores in the area within the next two years.

Saks Fifth Avenue (212-753-4000) plans to open a 50,000 sq.ft. store at Arboretum Market in Austin, TX during November.

Logan's Roadhouse, Inc. (615-885-9056) recently signed an agreement with CMAC Inc. to open 15 restaurants in GA, NC and SC in the coming five years. Sites being considered include Greenville, Rock Hill, Myrtle Beach and Charleston, SC; Fayetteville, NC and Augusta, GA.

Manhattan Bagel Company, Inc. (908-544-0155) recently signed franchise development agreements that call for the opening of 112 Manhattan Bagel stores over the next three to five years in CA, TX, MI, NJ and PA. The agreements call for the development of 50 units over four years in San Diego and Orange counties in CA; 40 openings over four year in the Dallas-Fort Worth, TX market; eight units over three years in the Lansing, MI market; seven units over three years in Morris County in NJ and seven units over three years in center city Philadelphia, PA.

Barnes & Noble, Inc. (212-633-3300) recently opened a 28,200 sq.ft. bookstore in Northville, MI.

 

Financial News...

Tuesday Morning, Inc. (214-387-3562) reported its first quarter sales increased 33% to $47.2 million with comparable store sales up 23% for the quarter. The company operates 291 stores throughout North America, which open four times a year for six-week to 12-week "events" during the retail industry's peak selling seasons. A variety of closeout items are available such as gifts, crystal, luggage, linens, toys and seasonal items.

CompUSA, Inc. (972-484-8500) reported net sales for its fiscal third quarter increased 19.4% to $1.27 billion from $1.07 billion during its third quarter last year. Comparable store sales were up 5.6% for the quarter. The company operates 123 stores in 56 major metropolitan markets nationwide.

Noodle Kidoodle, Inc. (516-293-5300) reported its sales from continuing operations during 1996 increased to $59.4 million, from $32.1 million during 1995. Net loss for the year was $7.5 million, compared to a net loss of $14.3 million during 1995. The company operates 32 stores, which sell edu-tainment products for children, in CT, IL, MA, MI, NJ and NY and is planning to open a store in Northville, MI during the third quarter.

Quizno's Corporation (303-368-9424) reported a net loss of $1.018 million during fiscal year 1996. The loss was due to non-cash expenses and other charges. Corporate revenue increased 15% to $7.5 million from $6.5 million and systemwide sales increased 38% from $26 million to $36 million in 1996. The company operates and franchises 171 restaurants in 27 states and has 65 area directors.

Walgreen Co. (847-940-2500) reported its sales for the second quarter increased 13.3% to $3.6 billion. Net earnings for the quarter increased 16.3% to $147 million. Pharmacy sales increased 17.5% for the quarter. Comparable store sales increased eight percent for the quarter and comparable pharmacy sales increased 12.2% for the quarter. During the first six months of its fiscal year, the company opened 102 stores and is on pace to open 230 stores during its current fiscal year. Currently, the company operates 2,256 drug stores in 34 states and Puerto Rico.

Bed Bath & Beyond, Inc. (201-379-1750) reported net earnings for its fiscal year increased 39.4% to $55 million from $39.4 million. Net sales for its fiscal year increased 36.9% to $823.1 million from $601.2 million and comparable store sales increased 6.1%. During the year, the company opened 28 stores and closed its fiscal year with 108 stores in 25 states. During its current fiscal year, the company plans to open 30 stores in both existing and new markets.

Family Dollar Stores, Inc. (704-847-6961) reported sales for its fiscal second quarter were up 18.3% to $530.2 million from $448.2 million during the second quarter last year. Net income for the quarter increased 25.5% to $20 million from $15.9 million last year. Comparable store sales increased 11.5% for the quarter. During the second quarter, the company opened 45 stores and closed 27 and ended the quarter with 2,658 stores in 38 states.

Circuit City Stores, Inc. (804-527-4000) reported total sales for its fiscal year increased nine percent to $7.66 billion from $7.03 billion last year. Net earnings were down to $136.4 million from $179.4 million during FY96. By division, total sales for the Circuit City Group increased six percent to $7.15 billion during FY97 from $6.75 billion during FY96. Comparable store sales fell eight percent for the year. Total Sales in the CarMax Group increased 85% to $510.3 million in FY97 compared to $275.9 million during FY96. Comparable store sales increased 23% for the year. However, the division posted a net loss of $9.3 million, compared to a net loss of $5.2 million during FY96. The company operates 447 Circuit City Superstores, 45 mall-based Circuit City Express stores, four consumer electronics-only stores and seven CarMax stores nationwide. During fiscal 1998, the company plans to open 60 superstores and replace as many as 15 with the company's new format, and open 10 CarMax locations, including entries into the Dallas-Fort Worth, Houston, Miami and Washington, D.C.-Baltimore, MD markets. A long-range goal calls for the group to be operating as many as 90 CarMax locations nationwide by 2002.

 

Lead Sheet

Clothing Liquidator, Inc.

dba IMP Pedlar

Wanda Gullet

5750 Hopkins Road

Richmond, VA 23224

804-275-9778, Fax 275-9778

Apparel

The company operates one location in VA. The store, selling men's and women's apparel, occupies a 3,000 sq.ft. space in a strip center. Growth opportunities are sought in the existing market.

Hartstrings, Inc.

dba Hartstrings Childrenswear

Jack Vogel

270 East Conestoga Road

Strafford, PA 19087

610-687-6900, Fax 995-9125

Apparel

The seven-unit chain operates locations in DE, ME, NY, PA and SC. The children's apparel stores occupy spaces of 2,500 sq.ft. in outlet centers. Plans call for two openings in the coming 18 months. Expansion will take place west of the Mississippi River. The company seeks sites in destination/tourist locations.

He-Ro Group

dba Designer Collections

Mitch Simbal

1 American Way

Secaucus, NJ 07094

201-330-1800, Fax 330-8920

Apparel

The 24-unit chain operates locations in AZ, CA, CO, FL, GA, IL, ME, MD, MA, NJ, NY, PA, TN, TX, VT, VA and WI. The stores, selling women's ready-to-wear dresses and sportswear, occupy spaces of 3,000 sq.ft. to 6,000 sq.ft. in outlet centers. Growth opportunities are sought nationwide.

Maidenform

Lynn Mancini-Weiner

154 Avenue E

Bayonne, NJ 07002

203-881-9926, Fax 881-9929

Apparel

The 100-unit chain operates locations nationwide. The stores, selling lingerie and sleepwear, occupy spaces of 3,000 sq.ft. in outlet centers. Preferred co-tenants include other women's fashion retailers. Plans call for 15 openings in the coming 18 months. Expansion will take place nationwide.

Fast Frame, Inc.

dba Fast Frame

Brian Harper

1200 Lawrence Drive, Suite 300

Newbury Park, CA 91320

805-498-4463, Fax 498-8983

Arts & Crafts

The 148-unit chain operates locations in AZ, CA, CO, FL, GA, IL, NY, MN, WA, VA, NC, SC, MA, KS, UT and NE. The stores, selling arts and crafts, occupy spaces of 1,500 sq.ft. in power centers. Preferred anchors include Pier 1 Imports, Strouds and Ethan Allen. Plans call for 30 openings in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of 50,000 within three miles earning $45,000 as the average income.

Mechanics Auto Parts, Inc.

dba Mechanics Auto Parts

Joseph York

1041 Glesboro Road Unit F1

Williamstown, NJ 08094-3546

609-875-6700, Fax 875-0741

Automotive

The 15-unit chain operates locations in NJ and PA. The stores, selling automotive parts, occupy spaces of 5,000 sq.ft. in freestanding facilities. Plans call for two openings in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of 50,000 within five miles earning $30,000 as the average income. Leases running five years are typical and the company cites NAPA as competition.

Rockaway Bedding Centers, Inc.

dba Rockaway Bedding

Tony Licastro

1 Aspen Drive

Randolph, NJ 07869-1108

201-584-2299, Fax 584-4956

Bedding

The68-unit chain operates locations in DE, NJ, NY and PA. The stores, selling mattresses and beds, occupy spaces of 3,000 sq.ft. in strip centers. Preferred anchors include supermarkets. Plans call for six openings in the coming 18 months. Expansion will take place in the existing markets. Leases running five years are typical and the company prefers a vanilla box. The company cites Sleepy's and Mattress Discounters as competition.

Buck A Book, Inc.

dba Buck A Book, Books for Peanuts,

Real Deal Discount Software

William Stein

103 Levbert Road

Newton, MA 02159-3008

617-244-8479, Fax 244-3609

Books

The 19-unit chain operates locations in CT, ME, MA, NH and RI. The stores, selling books, cards, etc. at discount price points, occupy spaces of 2,500 sq.ft. to 4,500 sq.ft. in downtown store fronts and outlet centers. Plans call for the opening of four units in the coming 18 months. Expansion will take place throughout New England. Preferred demographics include a population of 75,000 within three miles earning $40,000 as the average income. Leases running three years are typical and the company prefers a vanilla shell.

Little Professor Book Centers, Inc.

dba Little Professor Book Center,

Little Professor Book Company

Chuck Hilscher

130 South First Street

Ann Arbor, MI 48104

313-994-1212, Fax 994-9009

Books

The 86-unit chain operates locations in 30 states. The bookstores occupy spaces of at least 3,000 sq.ft. in regional malls, power, specialty and strip centers. Plans call for 18 openings in the coming 18 months. Expansion will take place nationwide. Preferred demographics include a trade area population of 50,000 earning $40,000 as the average income. Leases running five years are typical and the company prefers a white box. The company cites Borders, Barnes & Noble and Books A Million as competition.

Community Distributors, Inc.

dba Cost Cutters, Drug Fair

Frank Marfino

251 Industrial Parkway

Somerville, NJ 08876-3486

908-722-8700, Fax 722-2902

Drug Store

The 44-unit chain operates locations in NJ. The drug stores occupy spaces of 15,000 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 market. Preferred demographics include a population of 40,000 within three miles earning $50,000 as the average income.

RXD Pharmacies, Inc.

dba RXD Pharmacy, A&B Drug, Banks Apothecary,

Blackwood Medical Equipment,

Ellis Drugs, State Street Pharmacy

Robert Milner

724 Haddon Avenue

Collingswood, NJ 08108-3712

609-858-9292, Fax 858-7286

Drug Store

The 13-unit chain operates locations in NJ and PA. The drug stores occupy spaces of 5,000 sq.ft. in downtown store fronts, freestanding facilities and strip centers. Plans call for two openings in the coming 18 months. Expansion will take place in DE, NJ or PA. Leases running 15 years are typical.

Nobody Beats The Wiz

Lon Rubackin

1300 Federal Boulevard

Carteret, NJ 07008-1004

908-602-1900, Fax 602-1993

Electronics

The 66-unit chain operates locations in CT, MA, NJ and NY. The stores, selling consumer electronics, occupy spaces of 35,000 sq.ft. to 45,000 sq.ft. in power and strip centers. Plans call for 10 openings in the coming 18 months. Expansion will take place in CT, MA, NJ and NY. Preferred demographics include a population of 300,000 within 10 miles earning $40,000 as the average income.

Blimpie International, Inc.

dba Blimpie

Lynnette McIntire

1775 The Exchange, Suite 600

Atlanta, GA 30339

770-984-2707, Fax 933-6098

Food

The 1,600-unit chain operates locations nationwide. The restaurants, serving submarine sandwiches and salads, occupy spaces up to 1,600 sq.ft. in a variety of real estate settings. Growth opportunities are sought nationwide. Leases running 10 years, with options, are typical and the company cites Subway and Schlotzky's as competition. The company is franchising.

Burke & Burke, Inc.

dba Burke & Burke,

Cavonverry's, Hampton Court

Joseph Burke

1440 Broadway, Suite 1051

212-398-9125, Fax 398-9126

Food

The 20-unit chain operates locations in NY. The restaurants occupy spaces of 2,000 sq.ft. to 5,000 sq.ft. in downtown store fronts. Plans call for two openings in the coming 18 months. Expansion will take place in the existing market.

Round Table Franchise Corp.

dba Round Table Pizza

John Turnullo

2175 North California Boulevard, Suite 400

Walnut Creek, CA 95496

510-274-1700

Food

The 573-unit chain operates locations in AK, AZ, CA, CO, ID, NV, OR, WA, Bahrain, Indonesia, Korea and Taiwan. The restaurants, serving gourmet pizza, occupy spaces of 3,000 sq.ft. to 4,000 sq.ft. in regional malls and strip centers. Plans call for as many as 10 openings in the coming 18 months. Expansion will take place in the existing markets with an emphasis on AZ, NV and international expansion.

Dee & Dee, Inc.

dba Dee & Dee

Robert Dweck

39 West 14th Street Room 304

New York, NY 10011-7489

212-243-5620, Fax 633-0604

General Merchandise

The 15-unit chain operates locations in NY. The stores, selling general merchandise, occupy spaces of 7,000 sq.ft. to 10,000 sq.ft. in downtown store fronts and strip centers. Plans call for three openings in the coming 18 months. Expansion will take place in NJ and NY. Leases running 15 years are typical and the company prefers a vanilla shell.

Ocean State Jobbers, Inc.

dba Ocean State Jobbers

John Conforti

360 Callahan Road

North Kingstown, RI 02852

401-884-0556, Fax 885-0359

General Merchandise

The 34-unit chain operates locations in CT, MA and RI. The stores, selling general merchandise, occupy spaces of 20,000 sq.ft. in regional malls, outlet, power and strip centers. Plans call for five openings in the coming 18 months. Expansion will take place in the existing markets.

Natural Wonders

Judy Brown

4209 Technology Drive

Fremont, CA 94538

510-252-6600, Fax 252-6793

Gifts

The 163-unit chain operates locations nationwide. The stores selling nature and science themed gifts for the home and children, occupy spaces of 1,800 sq.ft. to 2,300 sq.ft. in regional malls. Plans call for 10 openings in the coming 18 months. Expansion will take place nationwide. Leases running eight years are typical.

Sanrio, Inc.

dba Sanrio Surprises

Randall Patterson

570 Eccles Avenue South

San Francisco, CA 94080

415-952-2880, Fax 872-2730

Gifts

The 130-unit chain operates locations in AZ, CA, CO, FL, GA, HI, IL, LA, MS, NJ, NC, OK, TN, TX, VA and WA. The stores, selling gifts, occupy spaces of 1,200 sq.ft. to 2,500 sq.ft. in regional malls, outlet and power centers. Preferred co-tenants include Disney Store, Gymboree and Warner Bros. Studio Store. Plans call for 20 openings in the coming 18 months. Expansion will take place nationwide. Preferred demographics include a population of 250,000 within five miles earning $42,000 as the average income. Leases running 10 years are typical and the company is franchising.

Great Clips, Inc.

dba Great Clips

Dean Wieber

3800 West 80th Street, Suite 400

Minneapolis, MN 55431

612-893-9088, Fax 893-2688

Hair Salon

The 900-unit chain operates locations in 24 states. The hair salons occupy spaces of at least 1,000 sq.ft. in power and strip centers. Preferred anchors include national discount department stores and supermarkets. Plans call for 450 openings in the coming 18 months. Expansion will take place in AZ, CA, CO, FL, GA, IA, ID, IL, IN, KS, KY, MD, MN, MO, NC, ND, NE, OH, TX, WA, OR, UT, SC, VA and Washington, D.C. Leases running five years, with a five-year option, are typical and the company is franchising.

Holiday Hair Fashions

dba Holiday Hair

Ron Chmieleski

PO Box 268

Allentown, PA 18105

610-820-4930, Fax 820-4941

Hair Salon

The 200-unit chain operates locations in DE, MD, NJ, PA, VA and WV. The hair salons occupy spaces of 900 sq.ft. to 1,200 sq.ft. in regional malls and strip centers. Plans call for 12 openings in the coming 18 months. Expansion will take place in the Mid-Atlantic region.

Gallery Gift Shoppes, Inc.

dba Kitchen Etc.

Peter McGrail

32 Industrial Drive

Exeter, NH 03833

603-772-1904, Fax 778-9328

Housewares

The eight-unit chain operates locations in CT, MA, NH and VT. The stores, selling housewares, occupy spaces of 14,000 sq.ft. to 20,000 sq.ft. in freestanding facilities, power and strip centers. Growth opportunities are sought in the existing markets.

Christian Bernard Stores Corp.

dba Christian Bernard

Steve Edwards

200 Meadowland Parkway

Secaucus, NJ 07094-2302

201-330-1007, Fax 330-0661

Jewelry

The 16-unit chain operates locations in CA, FL, IL, MD, NJ, NY, PA, VA and Washington, D.C. The jewelry stores occupy spaces of 1,000 sq.ft. in regional malls. Preferred anchors include Nordstrom and Bloomingdales. Plans call for three openings in the coming 18 months. Expansion will take place within the existing markets. Preferred demographics include a population of 300,000 within five miles earning $70,000 as the average income. Leases running 10 years are typical.

Galo Shoes, Inc.

dba Galo Shoes

George Galo

825 Lexington Avenue

New York, NY 10021-7401

212-832-3922, Fax 980-1319

Shoes

The six-unit chain operates locations in NJ and NY. The shoe stores occupy spaces of 1,500 sq.ft. in downtown store fronts and regional malls. Plans call for one opening in the coming 18 months. Expansion will take place within the existing markets. Leases running 10 years are typical.

Worldwide Shoes, Inc.

dba Battaglia Shoes, Shoe Barn

Paul Hanna

360 Miracle Mile

Coral Gables, FL 33134

305-461-1193, Fax 461-2995

Shoes

The eight-unit chain operates locations in FL. The stores, selling brand-name shoes and accessories for the family, occupy spaces of 1,400 sq.ft. to 2,000 sq.ft. in regional malls, specialty and strip centers. Plans call for the opening of four units in the coming 18 months. Expansion will take place in the existing market.

Crown Wine & Spirits

dba Crown Wine & Spirits,

Crown Liquors & Wine Merchants

Ray Brooks

c/o Realty Masters

915 West Sunrise Boulevard

Fort Lauderdale, FL 33311

954-463-5200, Fax 524-8934

Specialty

The 23-unit chain operates locations in FL. The stores, selling wine, liquor, cigars and gourmet foods, occupy spaces of 4,000 sq.ft. in freestanding facilities and strip centers. Plans call for three openings in the coming 18 months. Expansion will take place in Southeastern FL. Preferred demographics include a population of 100,000 within three miles earning $40,000 as the median income. Leases running 10 years are typical and the company prefers a vanilla shell.

Mobility Center, Inc.

dba Amigo Mobility Center

Richard Zimmer

6693 Dixie Highway

Bridgeport, MI 48722

517-777-6537, Fax 777-8184

Specialty

The 47-unit chain operates locations in AZ, MI, OH, IN, IL, TN, GA, NC, NJ, FL, TX, NM, PA, KS and MI. The stores, selling mobility products, occupy spaces of 1,500 sq.ft. to 2,000 sq.ft. in strip centers. Plans call for 22 openings in the coming 18 months. Expansion will take place in the existing markets with an emphasis on the entire state of NY, Jacksonville, FL, eastern MA, Philadelphia, PA and Cleveland, OH.

Gaylord Entertainment

dba Nascar Thunder

Jim Bieri or Larry Painter

c/o Bieri & Associates

1500 1st National Building

660 Woodward Avenue

Detroit, MI 48226-3518

313-962-2800, Fax 962-5070

Specialty

The four-unit chain operates locations in GA, NC, TN and TX. The stores, selling Nascar racing and private label merchandise, occupy spaces of 3,000 sq.ft. to 4,000 sq.ft. in regional malls. Preferred anchors include Sears and J.C. Penney. Plans call for at least 15 openings in the coming 18 months. Expansion will take place in the Mid-Atlantic, Midwestern and Southern regions. Preferred demographics include a population of 300,000 within 25 miles earning $40,000 as the average income. Leases running seven to 10 years are typical.

The Wood Floor Store

Ken Brownell

c/o Vanguard Capital Realty, Inc.

409 New Karner Road, Suite 201

Albany, NY 12205

518-862-0861, Fax 452-5972

Specialty

The company operates one unit in NY. The store, specializing in hard wood flooring, occupies a space in a strip center. Spaces running 3,000 sq.ft. to 5,000 sq.ft. in strip centers and freestanding facilities will be considered. Plans call for as many as four openings in the coming year. Expansion will take place in upstate NY and New England.

Acme Markets of Virginia, Inc.

dba Acme Supermarkets

William Crowe

200 East Riverside Drive

North Tazewell, VA 24630

540-988-2561, Fax 988-2565

Supermarket

The 11-unit chain operates locations in KY, VA and WV. The supermarkets occupy spaces of 35,000 sq.ft. in strip centers. Preferred co-anchors include discount stores and drug stores. Plans call for three openings in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of 20,000 within 10 miles earning $25,000 as the average income. Leases running 15 years are typical. The company cites Kroger and Food Lion as competition.

 

Lease Signings

Investment Management Associates (305-661-0110) leased 2,800 sq.ft. to American Check Management and 1,500 sq.ft. to Wondercuts at Park Plaza Shoppes in Miami, FL and 4,178 sq.ft. to Liberas Lighting and Gallery and 1,500 sq.ft. to Friends Salon at The Boykin Center in Miami, FL.

National Realty & Development Corp. (914-694-4444) leased 3,000 sq.ft. to Colortyme at Liberty Square Shopping Center in Burlington. NJ.

United Commercial Realty (215-526-6262, e-mail ucr@onramp.net, http://rampages.onramp.net/~ucr) leased 9,567 sq.ft. to Allen's Hardware at Casa Linda Plaza Shopping Center in Dallas, TX.

Linda Crowley & Associates, Inc. (714-857-7940) leased 1,984 sq.ft. to Peet's Coffee & Tea in San Diego, CA and 5,500 sq.ft. to Tilly's, 2,700 sq.ft. to Boudin's Sourdough Bakery, 1,017 sq.ft. to Frame N Lens, 7,000 sq.ft. to Rochester Big & Tall, 1,326 sq.ft. to Humphrey's Yogurt, 1,400 sq.ft. to Jamba Juice, 7,000 sq.ft. to Bertolini's Restaurant, 1,133 sq.ft. to Birkenstock Footwear, 3,500 sq.ft. to Richard's Luggage, 1,248 sq.ft. to Arriba, 1,000 sq.ft. to Sunglass Hut, 3,200 sq.ft. to Sam Woo's Barbeque, 5,247 sq.ft. to Designer Labels for Less and 2,486 sq.ft. to Cafe Indigo at Metro Pointe in Costa Mesa, CA.

Sansone Group, Inc. (314-727-6664, http://www.sansonegroup.com) leased 1,400 sq.ft. to Great Clips at Gravois Village Plaza in St. Louis, MO; 31,700 sq.ft. to Friend Tire Company at Mid County 6 in St. Louis, MO; 2,229 sq.ft. to Empress Garden and 4,000 sq.ft. to Dress Barn at South Lakeview Plaza in St. Louis, MO.

Duke Realty Investments (317-846-4700) leased 23,000 sq.ft. to United Art and Education at Greenwood Corner Shops in Greenwood, IN.

Erwin L. Greenberg Commercial Corporation (410-837-2500) leased 1,390 sq.ft. to Sally Beauty Supply at Dorchester Square Shopping Center in Cambridge, MD.

Goudreau Management Corporation (216-741-7524) leased 4,800 sq.ft. to Video Update at Meadowbrook Market Square II in Bedford, OH.

 

Convenience Stores Looking To Open More Stores

Holiday Markets, Inc. trades as Holiday Markets at 49 locations in GA. The convenience stores, which also sell gasoline, occupy spaces of 2,000 sq.ft. to 3,000 sq.ft. in freestanding facilities. Growth opportunities are sought in the existing market.

For more information, contact John McCranie, Holiday Markets, Inc., 1708 North Ashley Street, Valdosta, GA 31601; 912-242-5182, Fax 242-2693.

Krause Gentle Corporation does business as Kum & Go at 145 locations in CO, IA, MO, MT and ND. The convenience stores occupy spaces of 2,800 sq.ft. in freestanding facilities. Plans call for 18 openings in the coming 18 months. Expansion will take place in the existing markets.

For more information, contact Neil Broderick, Krause Gentle Corporation, 4201 Westown Parkway #220, West Des Moines, IA 50265; 515-226-0128, Fax 226-0995.

Cumberland Farms/Gulf Oil operates 2,500 locations in CT, DE, FL, ME, MA, MS, NH, NJ, NY, OH, PA, RI and VT. The convenience stores and gasoline stations occupy freestanding facilities of 2,500 sq.ft. to 3,000 sq.ft. on land areas running one acre. Preferred anchors include Wal*Mart and McDonald's. Growth opportunities are sought throughout New England and in FL. Leases running three years are typical and the company builds it store from the ground up and retrofits existing locations.

For more information, contact Ronald Grabarek, Cumberland Farms/Gulf Oil, 719 Post Road, Westport, CT 06880; 203-226-3346, Fax 226-3364.

BP Oil Company trades as BP Express at 144 locations in AL, KY, NC, OH, PA, SC and TN. The convenience stores and gasoline stations occupy spaces of 1,800 sq.ft. to 2,700 sq.ft. in freestanding facilities. Plans call for 50 openings in the coming 18 months. Expansion will take place East of the Mississippi River.

For more information, contact Greg Covelli, BP Oil Company, 200 Public Square 9-2756, Cleveland, OH 44114; 216-586-2299, Fax 586-8105.

Circle K Corp./Tosco Corp. trades as Circle K at more than 2,500 locations nationwide. The convenience stores, some of which also sell gasoline, occupy spaces of 3,500 sq.ft. in freestanding facilities. Plans call for as many as 40 openings in the coming 18 months. Expansion will take place in AZ, CA, FL, NV, NC, SC and TX.

For more information, contact Paul Hazlinger, Circle K Corp./Tosco Corp., 3003 North Central Avenue Floor 17, Phoenix, AZ 85012; 602-437-0600, Fax 530-5167.

Petr-All Petroleum does business as Express Mart at 57 locations in NY and Mexico. The convenience stores occupy spaces of 3,000 sq.ft. in freestanding facilities. Plans call for three openings in the coming 18 months. States being scouted for sites include CT, MA, OH, PA, VT, WV and Canada.

For more information, contact Frank Borer, Petr-All Petroleum, 6567 Kinne Road, Dewitt, NY 13214; 315-446-0125, Fax 446-1355.

Ultra Mar/Diamond Shamrock Corp. trades as Diamond Shamrock/Ultra Mar at more than 4,400 locations throughout the Southwest, CA and Canada. The convenience stores, some of which also sell gasoline, occupy spaces of 2,000 sq.ft. in freestanding facilities and strip centers. Growth opportunities are sought in the existing markets.

For more information, contact Ken Eaton, Ultra Mar/Diamond Shamrock Corp., PO Box 696000, San Antonio, TX 78269-6000; 210-641-6800, Fax 641-8588.

Williamson Oil Co., Inc. trades as Discount Food Mart at 124 locations in AL, GA and TN. The convenience stores, which also sell gasoline, occupy spaces of 3,000 sq.ft. to 3,500 sq.ft. in freestanding facilities located on high traffic roads. Plans call for 10 openings in the coming 18 months. Expansion will take place in the existing markets. The company is also scouting the following states for possible expansion: FL, MS, NC and SC.

For more information, contact Mr. Shannon Stringer, Williamson Oil Co., Inc., PO Box 807, Fort Payne, AL 35967; 205-845-1801, Fax 845-3641.

GCJ Enterprises, Inc. trades as Ritz Food Stores at 24 locations in FL. The convenience stores, which also offer fast food, occupy spaces of 1,200 sq.ft. to 2,800 sq.ft. in freestanding facilities and strip centers. Preferred anchors include Wal*Mart, other fast food restaurants and hotels. Plans call for six openings in the coming 18 months. Expansion will take place in AL, FL and GA.

For more information, contact Gary Jones, GCJ Enterprises, Inc., 806 Highway 90 West, Crestview, FL 32536; 904-682-8337, Fax 682-8321.

 

Space Place

Colorado

Aurora- A freestanding 5,800 sq.ft. former Checker Auto Parts store is available for sublease through May 31, 2003. Demographics include a five-mile population of 348,902 earning $54,529 as the average income. Also in Aurora- Michaels Aurora Plaza is anchored by Michaels, Fashion Gal and Payless Shoes. The 118,290 sq.ft. project has spaces of 1,391 sq.ft., 1,404 sq.ft. and 2,263 sq.ft. available for lease. Demographics include a five-mile population of 293,523 earning $49,965 as the average income. The site is located near Ross and King Soopers. In Denver- Lakeside is anchored by Target, Montgomery Wards and Walgreens. The 589,000 sq.ft. project has spaces from 350 sq.ft. to 27,000 sq.ft. available for lease. Demographics include a five-mile population of 364,000 earning $40,500 as the average income. The site is located near King Soopers and Safeway. Also in Denver- Marshalls Village West is anchored by Famous Footwear and Payless Shoes. The 101,516 sq.ft. project has spaces of 1,409 sq.ft., 3,470 sq.ft. and 6,568 sq.ft. available for lease. Demographics include a five-mile population of 214,328 earning $57,478 as the average income. The site is located near Southwest Plaza Regional Mall. In Lakewood- A 3,093 sq.ft. freestanding former Checker Auto Parts store is available for lease. Demographics include a five-mile population of 257,727 earning $49,046 as the average income. In Littleton- Marina Pointe is anchored by Take II Video and Conoco. The 19,550 sq.ft. project has spaces of 1,000 sq.ft. and 2,400 sq.ft. available for lease. Demographics include a three-mile population of 54,829 earning $65,100 as the average income.

For details, contact Steve Sebern of Sevo Miller, Inc. at (303-721-1000), Fax (721-7249).

Connecticut

Berlin- Webster Square Shopping Center is anchored by Super Foodmart, Woolworth's and Berlin Cinema. The project has spaces available for lease.

For details, contact Peter Brawley of Chase Enterprises at (203-549-1674), Fax (293-4289).

New Jersey

Bloomfield- Franklin Square is anchored by Edwards Supermarket. The 140,000 sq.ft. project has spaces of 20,000 sq.ft. and 40,000 sq.ft. available for lease. Demographics include a five-mile population of 673,153 earning $44,000 as the average income. The site is located near Home Depot, Toys 'R Us and Kids 'R Us. In Toms River- Sea Court Pavilion is anchored by Marshall's, Pier 1 Imports and Sony Theater. The 250,000 sq.ft. project has spaces of 1,700 sq.ft., 5,000 sq.ft. and 23,000 sq.ft. available for lease. Demographics include a five-mile population of 147,670 earning $45,000 as the average income. The site fronts Hooper and Bay Avenue which generate a daily traffic count in excess of 40,000 vehicles.

For details, contact Jerry Johnson of Metro Commercial Real Estate at (609-866-1900), Fax (866-1611).

New York

Yorktown Heights- Staples Plaza is anchored by Staples, B.J.'s Wholesale Club and The Party Experience. The project has spaces from 5,000 sq.ft. to 45,000 sq.ft. available for lease.

For details, contact Eric Goldschmidt or Pam Bren Goldschmidt of Goldschmidt & Associates at (914-723-1616), Fax (723-7720).

Virginia

Fairfax- Fairfax Towne Center is anchored by Safeway, United Artists, Bed Bath & Beyond, T.J. Maxx, Tower Records and Zany Brainy. The 253,941 sq.ft. project has space available for lease. Demographics include a five-mile population of 194,587 earning $76,607 as the average household income.

For details, contact Kenneth Stern of Developers Diversified at (216-247-9857), Fax (247-1118).

 

Real Estate Professionals Making The News

Duke Realty Investments (513-956-4453) announces that Nicole Underwood has been promoted to leasing assistant for the company's downtown Cincinnati, OH properties.

United Commercial Realty (214-526-6262) announces that Howard Beckerman, Kevin White and W. Thurston Witt, Jr. have joined the company as senior vice presidents.

Regency Realty Corporation (904-356-7000) announces the appointment of Lisa Palmer as its director of investment services.

Bingham, Dana & Gould LLP (617-951-8000) announces that Pete Van has joined its company as a partner. For the past six year, Van has been chairman of the real estate practice at Mintz Levin Cohn Ferris Glovsky and Popeo PC.

McClinton & Company, Inc. (334-270-9653) announces that Joan J. Surles has been promoted to vice president, administration.

Video Update (612-222-0006) announces that Christopher J. Cummins has joined the company as regional real estate director. Cummins will oversee new site selection for the Mississippi River Valley region which includes MN, WI, IA, ND, SD and MO.

 

Excluisves: Leasing & Managament Assignments

The Schultz Brokerage Services Group (908-855-0001) has been named the exclusive agent for the 19,000 sq.ft. Schenck's Shopping Plaza in Brick Township, NJ; the exclusive agent of a proposed 3,300 sq.ft. to 5,000 sq.ft. pad site adjacent to BJ's Wholesale Club in Ocean Township, NJ and the exclusive leasing agent of Hyde Park Shopping Center in Greenbrook, NJ. The 45,000 sq.ft. project is anchored by Alphagraphics, Egghead Software, PC Warehouse and Jenny Craig. Spaces from 700 sq.ft. to 5,000 sq.ft. are available. The company has also been named the exclusive leasing agent for Suburban Plaza in Long Branch, NJ. The project is anchored by Welsh Farms, Suburban Liquors and Joline Laundromat. Approximately 7,000 sq.ft. remains available for lease. The site is located near Home Depot, Barnes & Noble, Kmart, ShopRite and Monmouth Mall.

Flocke & Avoyer Commercial Real Estate (619-280-2600) has been named the exclusive leasing agent of the 420,649 sq.ft. Mira Mesa Mall in Mira Mesa, CA. The company has also been named the exclusive leasing agent of the 192,917 sq.ft. Rancho San Diego Village Shopping Center in Rancho San Diego, CA.

The Breder Companies (305-251-1520) has been named the exclusive leasing agent of Dixie Center in Homestead, FL. The 150,000 sq.ft. project is anchored by Winn-Dixie Marketplace and Scotty's Home Improvement Center.

Realco Group, Inc. (516-294-7070) as managing agent and exclusive leasing agent for Garlor Associates, recently completed its renovation and capital improvements and retenanting program for the Melville Plaza Shopping Center in Melville, NY. Improvements included a new facade, new canopy and new signage. Also, 11,000 sq.ft. was leased to Harmon Drug and 11,000 sq.ft. was leased to Big M/Mandee.

General Growth Properties, Inc. (312-551-5005) was recently awarded the management contract for Alderwood Mall in Lynnwood, WA. The 1.013 million sq.ft. project is anchored by Nordstrom, The Bon Marche, J.C. Penney, Lamonts and Sears.

Hiffman Shaffer (312-332-3555) has been named the management agent for four properties totaling over 400,000 sq.ft. owned by The University of Chicago. The four locations include: the 86,000 sq.ft. Hyde Park Shopping Center; the New Graduate Residence Hall, with 23,000 sq.ft. of office space and 122 dorm rooms; the Woodlawn Social Services Center, totalling 70,000 sq.ft. and a 172,000 sq.ft. office building.