Issue Number 37 for the week of October 10, 1997
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The Dealmakers Issue Number 37 for the week of October 10, 1997.

Temporary Tenants Seeking Sites Nationwide

Cotton Island Clothing Co. trades as Cotton Island Clothing at 100 locations in FL, IL, IN, MI, NY and PA. The apparel stores, which operate seasonal kiosks primarily during the summer and at Christmas, occupy spaces of 100 sq.ft. in regional malls. Plans call for 100 temporary openings. Expansion will take place in the existing markets as well as in OH.

For more information, contact Susan Saville, Cotton Island Clothing Co., 175 South Saginaw, Pontiac, MI 48342; 248-335-5300, Fax 335-3282.

Stockings To Stuf, Inc. trades as Stockings To Stuf at more than 100 locations nationwide. The stores, selling Christmas stockings during the Christmas holiday season, occupy kiosk spaces running 80 sq.ft. to 100 sq.ft. in regional malls. Growth opportunities are sought nationwide.

For more information, contact Eric Gardner, Stockings To Stuf, Inc., 1117 Delsea Drive, Box 184, Westville, NJ 08093; 609-848-1441, Fax 384-8806.

The Leathermakers Ltd. does business as Route 66 at six locations in IL, IN and WI. The concept features themed apparel, gifts and leather goods from kiosk locations designed in the shape of a gasoline pump at regional malls. Growth opportunities are sought in the existing markets with plans to take the concept nationwide. The company operates both permanent and temporary locations and leases for its permanent sites typically run for three years.

For more information, contact Jerome Sirt, The Leathermakers Ltd., 9800 North Milwaukee Avenue, Niles, IL 60714; 847-827-3300.

The Game Keeper, Inc. trades as The Game Keeper at 65 locations nationwide. The stores, selling board games, occupy spaces of 800 sq.ft. to 1,500 sq.ft. in regional malls and specialty centers. Preferred anchors include major department stores. Plans call for as many as 50 openings in the coming 18 months. Expansion will take place nationwide. Preferred demographics include a population of 200,000 within 20 miles earning $40,000 as the average income. The company operates both permanent and temporary locations.

For more information, contact Cheryl Stern, The Game Keeper, Inc., 99 Aero Camino, Goleta, CA 93117-3430; 805-961-1166, Fax 683-4263.

Hickory Farms, Inc. trades as Hickory Farms at 45 locations nationwide. The stores, selling food gift packages, cheese, candies and meats, occupy spaces of 1,700 sq.ft. in regional malls. The company typically opens 1,000 temporary units in regional malls and strip centers during November and December of each year and is seeking growth opportunities for its temporary stores nationwide.

For more information, contact Jennifer Nicholson, Hickory Farms, Inc., 1505 Holland Avenue, Maumee, OH 43537; 419-893-7611, Fax 893-0164.

 

Sources of Financing

Inland Mortgage Corporation (630-218-4927) recently placed a first mortgage loan for $3.88 million on Phoenix West Plaza Shopping Center in Phoenix, AZ. The loan was committed in six days and funded despite a distressed tenancy. The company also placed a first mortgage loan for $4.44 million on Bloomington/Normal Factory Stores in Normal, IL. The loan provided funds for lease up and completion of construction. The company provides first and second mortgage loans for retail uses, apartments, office, industrial, land and residential uses nationwide. Preferred loan sizes range from $1 million to $15 million and terms range from six months to 36 months.

Amresco Capital Corporation (703-610-0366) provides nonrecourse loans from $35 million and up, amortized from 25 to 30 years. Asset quality should be Class B+ or better for portfolios and Class A- or better for single assets.

The Principal Financial Group (515-247-5078) recently placed a $16 million loan with Sun Trust Mortgage for 156,979 sq.ft. package of Winn Dixie/Walgreens stores throughout FL. The company recently placed a $10 million loan with Gross Mortgage Finance for the 144,188 sq.ft. Ramblewood Square in Coral Springs, FL. The company also recently placed a $4.5 million loan with Aztec Group for a 63,480 sq.ft. Winn Dixie Center in Coral Gables, FL. The company is offering credit construction loans from $5 million to $10 million. Other lending criteria include maximum 75% loan-to-cost during construction phase which can be increased once converted to permanent phase; 12 month or shorter construction phase term; permanent phase term generally coterminous with lease term; investment grade credit tenants (BBB-/Baa3 or better), national or regional in operation, with minimum tangible net worth of $50 million or more, five years of audited financial statements available for review.

Falcon Realty Advisors (407-295-8555) can arrange/supply cash equity to develop retail projects throughout the U.S. Sources of funds can complete a single tenant project or a series of single tenant or shopping center projects.

Column Financial, Inc. and CSC Cypress Financial, Inc. (954-351-9993) have provided $52.905 million in permanent, fixed rate, and non-recourse financing to South FL property owners through June. Loans terms ranged from seven to 30 years. In 1996, the company provided 155 loans for retail/office/industrial properties totaling more than $860.0 million.

The Quest Group (510-839-9559) recently placed the following loans: $11.95 million for Culver Shopping Center in Culver City, CA; $15.6 million for Buckhead Triangle Shopping Center in Atlanta, GA; $2.675 million for Furr's Grocery Store in El Paso, TX; $2 million for Lucky Food Center in Los Altos, CA; $4 million for Woodstock Super Center in Portland, OR; $3.441 million for a Winn-Dixie Supermarket in Gramercy, LA and $3.4 million for Kirby Oaks Shopping Center in Houston, TX.

Ground Round Restaurants, Inc. recently entered into a commitment letter with CNL Fund Advisors, INc. to sell and leaseback between 15 and 20 restaurants for between $15 million and $20 million. Ground Round plans to use the proceeds to reduce bank debt by approximately 40% as well as for general corporate purposes.

For more information, contact Stephen Kiel at (617-380-3100).

 

Buyers & Sellers

First Union Real Estate Investments recently bought its joint venture partners' interests in a portfolio of nine regional shopping malls located in the Southwestern region. The purchase price was $87 million. First Union and its joint venture partners acquired the malls from Marathon U.S. Realties in September 1996 for $312 million. Its joint venture partners include GMAC-Commercial Mortgage, Goldman Sachs Mortgage Company and Cargill Financial Services Corp. The nine malls have a combined GLA of 5.8 million sq.ft., with individual malls ranging in size from 444,000 sq.ft. to 921,000 sq.ft. The malls are located in Santa Fe and Las Cruces, NM; Kileen, Temple and Lake Jackson, TX; Shawnee, OK; Alexandria and Monroe, LA and Little Rock, AR.

For more information, contact Thomas Kmiecik at (216-781-4030).

Simon DeBartolo Group, Inc. recently upped its bid for The Retail Property Trust, a MA shopping mall owner, to nearly $700 million.

For more information, contact Simon DeBartolo at (317-636-1600).

J.H. Winokur, Inc. brokered the sale of Rockdale Plaza in New Bedford, MA. The 73,000 sq.ft. project is anchored by Super Stop and Shop.

For more information, contact Jeffrey Winokur at (914-741-0400).

Lamar Companies recently acquired Parkway Crossing Shopping Center in Baltimore, MD. The 269,640 sq.ft. project is anchored by Caldor and SuperFresh. Spaces of 1,600 sq.ft., 16,022 sq.ft. and 26,500 sq.ft. are available for lease.

For more information, contact Jeffrey James at (800-526-0762, Ext. 111).

Alliance Commercial Investments, Inc. represents a client in the market to acquire anchored shopping centers with 70% to 80% national credit tenants and all the leases providing for 100% pass through of expenses including roof and structure; or freestanding retail triple net lease properties with national credit tenants nationwide. Preferred properties have a minimum length remaining on anchor lease of 10 years, with 15 preferred. Properties priced between $1.5 million and $30 million and portfolios priced between $50 million and $200 million are preferred. All cash deals are possible.

For more information, contact Hugo Acosta or James Johnson at (281-480-9600), Fax (480-9939).

CBL & Associates Properties, Inc. recently acquired Springdale Mall in Mobile, AL for $26 million. The 926,376 sq.ft. project is anchored by Gayfer's, McRae's and Montgomery Ward.

For more information, contact CBL & Associates Properties at (423-855-0001).

The Shopco Group recently acquired Ridgmar Mall in Fort Worth, TX. The 1.1 million sq.ft. project is anchored by Dillard's, JC Penney, Sears and Neiman Marcus. A 180,000 sq.ft. Foley's department store will join the tenant mix during November 1998.

For more information, contact The Shopco Group at (212-594-9400).

JDN Realty Corp. recently acquired Genito Crossing Shopping Center in Midlothian, VA for $5.5 million and Bermuda Square Shopping Center in Chester, VA for $8.7 million. The 79,407 sq.ft. Genito Crossing Shopping Center is anchored by Food Lion and CVS. The 116,310 sq.ft. Bermuda Square Shopping Center is anchored by Ukrop's Supermarket, Shoney's and Captain D's Seafood Restaurant.

For more information, contact William Kerley at (404-262-3252).

H. Stephen Kirschner, Inc. has the listing to sell a portfolio of 10 shopping centers ranging in size from 75,000 sq.ft. to 350,000 sq.ft. The projects were primarily built in the 1970s, are located throughout the Southeastern region and are anchored by supermarkets and/or discount department stores. Upside potential exists and assumable financing is available.

For more information, contact H. Stephen Kirschner at (516-595-9595).

Raymond R. Betz Brokerage, Inc. represents a client in the market to acquire single tenant NNNs nationwide. Preferred properties have five years remaining on the lease and a net worth of at least $10 million. Minimum deals of $4 million are preferred as are portfolios of properties.

For more information, contact Larry Marks at (713-892-5015, ext. 228), Fax (892-5300), e-mail (lamarks@worldnet.att.net).

Paley Dixon, Inc. is in the market to acquire supermarket or discount retail anchored projects located east of the Rocky Mountains, in Las Vegas, NV or Phoenix, AZ. Preferred projects have GLAs of at least 100,000 sq.ft. and minimum prices of $8 million. All cash deals are preferred.

For more information, contact Sarah Cooke at (914-477-0400), Fax (477-0382), e-mail (sscooke@nji.com).

ARC Properties, Inc. represented Growth & Income, Inc. in its acquisition of a 30,446 sq.ft. OfficeMax store in Wichita, KS. ARC is also in the market to acquire single tenant and build-to-suit properties in major US markets. Preferred properties have NNN leases with 15 year terms with increases. Prices from $1.5 million to $50 million will be considered. The company is also in the market to acquire land for development or commercial properties with expansion possibilities.

For more information, contact ARC Properties, Inc. at (973-345-1900), Fax (345-FAX1).

Faison Orlando brokered the sale of the 77,945 sq.ft. Waterford Lakes Village Shopping Center in East Orlando, FL. The buyer was Retail Income Fund IV and the purchase price was $7.485 million.

For more information, contact Ray Hayhurst at (407-425-9700).

Berkshire Realty Company, Inc. recently sold its Crossroads Shopping Center in Atlanta, GA. The project is anchored by Kmart and was sold for $12 million.

For more information, contact Berkshire Realty Company at (800-662-5787).

Hirshland & Company brokered the sale of 105 acres of land to Warminster Town Centre Associates, L.P. from Christ Home, Inc. The company then developed a 318,000 sq.ft. shopping center anchored by Kohl's Dept. Store, Super G, HomePlace, PetsMart, OfficeMax, Pep Boys, Party City, Blockbuster Video and MainLine Bank. The company brokered the sale of two acres of land for a 30,000 sq.ft. shopping center in Philadelphia, PA. The buyer was Pace-Chelten Assoc. The company brokered the sale a 21,000 sq.ft. freestanding building in Springfield, PA. The buyer was American Appliance. The company brokered the sale of an 85,000 sq.ft. shopping center in Philadelphia, PA. The buyer was Great Atlantic & Pacific Tea Company. The company brokered the sale of a 6,000 sq.ft. restaurant in King of Prussia, PA. The buyer was Sonny Lee, Inc. The company also brokered the sale of an 11,000 sq.ft. drug store in Lansdale, PA. The buyer was Enterprise Associates, Inc.

For more information, contact Hirshland & Company at (610-964-3600).

 

New Construction

MBK Northwest, a division of MBK Real Estate Ltd., recently began a renovation of Meridian Village Shopping Center and has acquired the adjacent six acres of land to further expand the center with the construction of a 105,000 sq.ft. Home Depot in Bellingham, WA. The expansion will increase the size of the project from its current 146,000 sq.ft. to 206,000 sq.ft. Present anchors of the project include Circuit City and Payless Drugs. The renovation is expected to be completed by November and Home Depot is expected to open during April 1998. Approximately 10,000 sq.ft. remains available for lease. MBK Northwest acquired Meridian Village in December 1996 from Meridian Industrial Trist for $6.9 million.

For more information, contact MBK Northwest at (714-789-8300), Fax 789-8345).

CenterCo, Inc./Key Centers, Inc. plans to develop Forest Lake Plaza in Lakeland, FL. The 100,000 sq.ft. project is expected to be anchored by a supermarket and is planned to open during Fall 1998. The company plans to develop Charlottetown Plaza in Port Charlotte, FL. The proposed 155,000 sq.ft. project will be located across from Town Center Mall. A Summer 1998 opening is planned. The company plans to develop The Oaks at Indian River in Vero Beach, FL. The 88,000 sq.ft. project is expected to open during Spring 1998. The company is also planning to develop Coast Plaza in Jensen Beach, FL. The 141,000 sq.ft. project is located adjacent to Treasure Coast Mall and is expected to open during Summer 1998.

For more information, contact Carolyn Karpinski of Signet Realty Corp., the leasing agent, at (561-398-0007).

Urban Retail Properties Co. plans to develop Citrus Park Plaza in Tampa, FL. The 340,424 sq.ft. project will also have nine outparcels totaling 70,000 sq.ft. of space. A Fall 1998 opening is planned.

For more information, contact Paul Motta of Urban Retail Properties at (561-394-6433).

Opus North Corp. plans to break ground during Fall on WindPoint Center in Batavia, IL. The site fronts Randall Road which is the major arterial route of the Fox Valley corridor. At the nearest major intersection of Randall Road and Fabyan Parkway more than 35,000 vehicles will pass the site and approximately 25,000 vehicles travel on Fabyan Parkway. The 308,536 sq.ft. project will be anchored by an 86,548 sq.ft. Kohl's Department Store, a 34,300 sq.ft. Linens N Things and a 23,560 sq.ft. OfficeMax store. An 8,838 sq.ft. Pier 1 Imports store, a 4,800 sq.ft. Chili's restaurant and a 2,000 sq.ft. Starbucks will occupy two outlots of the project. In-line space as well as one outparcel remains available for lease. Demographics include a primary trade area population of 137,285 earning $62,649 as the average household income. The site is located bear Aldi, Jewel/Osco, Sears, Target, Menards, Venture and Home Depot.

For more information, contact Michael Wesley or John Thompson of Tanguay-Burke-Stratton, the leasing agents, at (312-245-5036) or (245-5076).

V.K. Development Corporation is planning to develop Prairie Ridge on 412 acres in Kenosha County, WI. Planned as a $350 million mixed-use development, the site is proposed to house a 600,000 sq.ft. power center, a multi-screen movie theater, four themed restaurants, a Hawthorn Suites Ltd. hotel, a senior care facility, a nursing home, a Catholic church, a daycare center and 217 single family homes. The development site is located one mile east of I-94 and has one mile of frontage on State Trunk Highway 50 and is half-way between Milwaukee, WI and Chicago, IL. The site is located just north of Lakeside Marketplace outlet mall. Demographics include a 10-mile population of 171,010 earning $52,727 as the average household income.

For more information, contact Robert Weich II of V.K. Development Corp. at (414-790-6000), Fax (790-6011).

US Realty Associates, Inc. plans to develop a 145,000 sq.ft. shopping center fronting Street Road in Bensalem, PA near the existing Street Road Shopping Center anchored by Frank's Nursery & Crafts, Drug Emporium and Goodyear Tire. The project is expected to be anchored by a 55,000 sq.ft. SuperFresh supermarket. Demographics include a five-mile population of 274,100 earning $42,431 as the average income. The company also plans to develop a 400,000 sq.ft. power center in Downingtown, PA. The project is expected to be anchored by a 135,000 sq.ft. home improvement store, a 55,000 sq.ft. supermarket and a 110,000 sq.ft. farmer's market. Spaces in all sizes are available for lease. The site is located across from the 750,000 sq.ft. Brandywine Square Power Center. Demographics include a five-mile population of 63,662 earning $54,974 as the average income.

For more information, contact Gregory Bianchi of US Realty at (215-557-9900).

JP Realty, Inc. is developing Provo Towne Centre in Provo, UT. The project will be anchored by Dilard's, JC Penney and Sears. The 941,297 sq.ft. project, which is expected to open during Fall 1998, has space available for lease. Demographics include a trade area population of 304,048 earning $42,020 as the average family income.

For details, contact JP Realty, Inc. at (801-486-3911), Fax (486-7653).

 

Financial News

Circuit City Stores, Inc. (804-527-4000) reported that its second quarter total sales for the group increased 14% to $2.02 billion from $1.77 billion during the second quarter last year. By division, the Circuit City Group's total sales increased 11% to $1.81 billion from $1.63 billion despite a two percent decrease in comparable store sales. The CarMax Group posted a 56% second quarter sales gain to $206.2 million from $132.2 million. Comparable store sales increased nine percent. The company currently operates 460 superstores, 52 mall-based Express stores, four consumer electronics-only stores and 11 CarMax locations nationwide.

Edison Brothers Stores, Inc. (314-331-6000) reported second quarter net income of $200,000 versus a net loss of $25.2 million during the second quarter last year. Total sales fell 12% to $236.6 million from $268.8 million with comparable store sales up 0.3% for the quarter. The company also announced that it anticipates emerging from Chapter 11 protection early this month. The company operates nearly 1,700 stores throughout North America trading as JW/Jeans West, Coda, Oaktree, J. Riggins, REPP Ltd. Big & Tall, 5-7-9, Bakers/Leeds, Precis, Wild Pair and Shifty's.

CKE Restaurants, Inc. (714-778-7109) reported that its second quarter net income more than doubled to $10.5 million from $5.2 million during the second quarter last year. Operating income increased 86% to $18.8 million, revenues increased 89% to $242.3 million and comparable store sales increased four percent at its Carl's Jr. restaurants and five percent at its Taco Bueno restaurants. The company currently operates 667 Carl's Jr. restaurants and 26 Rally's units in AZ, CA, NV, OR, Mexico and the Pacific Rim; 3,080 Hardee's Food Systems, Inc. units in 39 states and 11 countries; 107 Taco Bueno restaurants in OK and TX; 95 JB's Restaurants; 16 HomeTown Buffet units and six Galaxy Diner units.

Best Buy Co., Inc. (612-947-2000) reported that its second quarter net earnings were up to $6.648 million from $3.788 million during the second quarter last year. Second quarter revenues increased one percent to $1.793 billion from $1.779 billion last year with comparable store sales down 5.6% for the quarter. During the second quarter, the company opened six stores, including its entry into the Pittsburgh, PA market with two stores. The other four stores opened in Clearwater and St. Petersburg, FL; Detroit, MI and Palm Dessert, CA. The company plans to open five stores during the third quarter. Currently, the company operates 280 stores in 32 states.

Quality Dining, Inc. (219-271-4600) reported that its third quarter total revenues increased 15% to $73.3 million. A third quarter net loss of $4 million, compared to a net loss of $2.9 million during the third quarter last year was also reported. The loss was primarily attributed to the company's Bruegger's Bagel Bakery operations and related general and administrative expenses. The company has since divested itself of the Bruegger's Bagel division. The company continues to operate 40 Grady's American Grill restaurants; 66 Burger Kings; 28 Chili's Bar & Grill restaurants; five Spageddies Italian Kitchen restaurants and three Papa Vino's Italian Kitchen restaurants.

ShopKo Stores, Inc. (414-496-7234) reported that its second quarter sales increased 9.5% to $546.1 million from $498.5 million during the second quarter last year. Comparable store sales increased 2.8% for the quarter. Company earnings for the quarter increased 6.4% to $4.2 million from $3.9 million last year. The company currently operates 130 discount stores and four freestanding optical centers in 16 states primarily in the Upper Midwest, Western Mountain and Pacific Northwest regions.

Drug Emporium, Inc. (614-548-7080) reported that its second quarter net income increased 9.6% to $274,000 from $250,000 during the second quarter last year. Net sales for the quarter totaled $204.2 million down from $212.6 million last year. Comparable store sales increased 0.2% for the quarter. The company currently operates and franchises 223 drug stores trading as Drug Emporium and F&M Drug Emporium nationwide.

Braun's Fashions (612-551-5000) reported that its second quarter net income was $308,000, compared to a net loss of $9.5 million during the second quarter last year, which included reorganization expenses of $9.1 million. Second quarter sales fell eight percent to $20.9 million, due to fewer operating stores. Comparable store sales increased 14% and operating income on those stores increased to $704,00 from a loss of $279,000 last year. Second quarter operating income was $684,000 compared to a loss of $1 million last year. During the quarter, the company opened eight stores and currently operates 180 women's apparel stores in 20 states.

Heilig-Meyers Company (804-359-9171) reported that its second quarter net earnings increased to $9.3 million from $7.7 million during the second quarter last year. Total revenues for the quarter increased 71.8% to $590.2 million from $343.5 million last year. The company currently operates 1,172 stores trading as Heilig-Meyers, Mattress Discounters, Rhodes, The Roomstore and 32 stores in Puerto Rico trading as Berrios.

CompUSA (972-982-4000) plans to begin marketing its own line of made-to-order PCs. The computers will be available at the company's 134 stores nationwide, by phone and through the company's web page.

Elek-Tek, Inc. (847-677-7660) recently filed for Chapter 11 protection and asked the bankruptcy court permission to sell its company to Creative Computers, Inc. of CA for $43 million. Creative Computers plans to operate much of Elek-Tek's present business, but several of its eight retail stores would probably be closed. At the time of the filing, Elek-Tek listed assets of $43 million and secured debt over $58 million. Under the plan, the $43 million from the purchase would be used to pay Elek-Tek's biggest creditors. As part of the deal, Creative Computers will continue to honor warranties and service agreements for Elek-Tek customers.

 

Food Tenants Hungry for Sites Nationwide

Warner Food Management trades as Jack In The Box at 34 locations in AZ and CA. The fast food restaurants occupy spaces of 2,000 sq.ft. to 3,000 sq.ft. in freestanding facilities. Growth opportunities are sought in the existing markets.

For more information, contact Sudesh Sood, Warner Food Management, 21820 Burbank Boulevard #220, Woodland Hills, CA 91367; 818-883-3592, Fax 883-4624.

Elmer's Restaurants, Inc. trades as Elmer's Pancake & Steak House at 29 locations in AK, CA, ID, MT, OR and WA. The upscale family restaurants, serving breakfast, lunch and dinner, occupy spaces of 6,800 sq.ft. in freestanding facilities. Growth opportunities are sought in OR. Leases running 20 to 25 years are typical and the company is franchising.

For more information, contact Anita Goldeberg, Elmer's Restaurants, Inc., 11802 SE Stark Street, Portland, OR 97216-3762; 503-252-1485, Fax 257-7448.

Dog n Suds Drive In Restaurants, Inc. trades as Dog n Suds Drive In Restaurants and Dog n Suds Express at 24 locations in IL, IN, OH and TX. The fast food restaurants occupy spaces of 2,000 sq.ft. in freestanding facilities. Preferred anchors include supermarkets. Plans call for 10 openings in the coming 18 months. Expansion will take place in TX and IN. Preferred demographics include 10,000 households within three miles earning $45,000 as the average income. Leases running 10 to 15 years are typical and the company is franchising.

For more information, contact Richard Morath, Dog n Suds Drive In Restaurants, Inc., 3002 Jeremes Landing, Garland, TX 75043-1510; 972-278-3061, Fax 840-2253.

Pacific Coast Restaurant, Inc. does business as Billy Heartbeats, Newport Bay Restaurant, Portland Deli and Stanfords Restaurant and Bar at 19 locations in OR and WA. The restaurants occupy spaces of 8,000 sq.ft. in freestanding facilities. Plans call for three openings in the coming 18 months. Expansion will take place in northern CA, OR and WA. Preferred demographics include a population of 200,000 within three miles earning $80,000 as the average income. Leases running 30 years are typical.

For more information, contact Al Fleenor, Pacific Coast Restaurant, Inc., 7165 SW First Loop #200, Portland, OR 97223-8055; 503-684-2803, Fax 620-6149.

Bagelz Bagel Bakery operates 22 locations in CT, FL, KS, ME, MA and RI. The stores, selling bagels, sandwiches and coffee, occupy spaces of 1,000 sq.ft. in strip centers. Plans call for 30 openings in the coming 18 months. Expansion will take place in FL, KS, ME and MO. The company is franchising and cites Einstein's and Bruegger's as competition.

For more information, contact Wes Becher, Bagelz Bagel Bakery, 95 Oak Street, Glastonbury, CT 06033-2315; 860-857-4400, Fax 657-2345.

Dee's Family Restaurants, Inc. trades as Dee's Family Restaurant at 12 locations in UT. The restaurants 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 market. Leases running 25 years are typical and the company cites Denny's as competition.

For more information, contact Mike Olsen, Dee's Family Restaurants, Inc., 777 East 2100 S, Salt Lake City, UT 84106-1829; 801-487-4201, Fax 487-4207.

Pizza Pit Ltd. trades as Pizza Pit at 45 locations in IA and WI. The pizza restaurants occupy spaces of 1,000 sq.ft. to 3,600 sq.ft. in strip centers. Preferred co-tenants include video stores. Plans call for five openings in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of 10,000 within three miles earning $25,000 to $34,000 as the average income. Leases running five years, with two five-year options, are typical and the company is franchising.

For more information, contact Kerry Cook, Pizza Pit Ltd., 4253 Argosy Court, Madison, WI 53714-3174; 608-221-6777, Fax 221-6771.

Eddington, Inc. trades as Eddington's Restaurant at five locations in MN. The restaurants, serving soups, salads and sandwiches, occupy spaces of 1,000 sq.ft. to 3,700 sq.ft. in strip centers. Plans call for one opening in the coming 18 months. Expansion will take place in the existing market. Leases running five years are typical.

For more information, contact Lewis Bautista, Eddington, Inc., 296 Pillsbury Center, Minneapolis, MN 55402; 612-338-5935, Fax 338-5694.

The Winning Team, Inc. does business as Arby's at 21 locations in NC. The fast food restaurants occupy spaces of 2,300 sq.ft. in strip centers. Preferred anchors include supermarkets. Plans call for three openings in the coming 18 months. Expansion will take place in the existing market. Leases running 20 years are typical.

For more information, contact Joe Brumit, The Winning Team, Inc., 71 Turtle Creed Road, Asheville, NC 28803; 704-274-5835, Fax 274-9555.

North Pizza, Inc. trades as Sicily's Pizza at 12 locations in LA and MS. The Italian buffet restaurants occupy spaces of 4,500 sq.ft. in strip centers. Plans call for the opening of four units in the coming 18 months. Expansion will take place in the existing markets.

For more information, contact Eric North, North Pizza, Inc., 352 St. Andrews Boulevard, La Place, LA 70068-1602; 504-652-2311.

Swiss Pretzel Entertainment, Inc. trades as Famous Corn Dog, Chicago Style Hot Dogs, Famous Gyros, Potato Works, Steak Express, Swiss Pretzel Shop and Texas Hot Dog at 175 locations nationwide. The fast food concepts occupy spaces of 150 sq.ft. to 500 sq.ft. in regional malls. Plans call for 10 openings in the coming 18 months. Expansion will take place nationwide. Preferred demographics include a population of 250,000 within 10 miles earning $30,000 as the average income. Leases running eight to ten years are typical.

For more information, contact Horst Haber, Swiss Pretzel Entertainment, Inc., 37450 Enterprise Court, Farmington Hills, MI 48331; 248-848-0300, Fax 848-1144.

Auntie Anne's, Inc. trades as Auntie Anne's Hand-Rolled Soft Pretzels at 420 locations nationwide, Singapore, The Philippines, Malaysia and Indonesia. The stores, selling soft pretzels, occupy spaces of 800 sq.ft. in regional malls. Plans call for 60 openings in the coming 18 months. Expansion will take place worldwide. Leases running 10 years are typical and the company is franchising.

For more information, contact Terry Widso, Auntie Anne's, Inc., 160-A Route 41, Gap, PA 17527-9410; 717-442-4766, Fax 442-4139.

 

Who's Opening & Where

Lowe's Home Improvement Warehouse (910-651-4223) recently opened stores in Burleson, Plano, Mesquite and two in Dallas, TX. The company is planning to open stores in Arlington, Fort Worth, Hurst, Lewisville, Rockwall, Carrollton and Garland, TX before the end of the year and early 1998.

Randalls Food Markets (713-268-3638) recently opened a 58,000 sq.ft. Tom Thumb supermarket in Arlington, TX. Two additional new generation supermarkets are planned for Arlington.

CompUSA (972-982-4000) plans to experiment with a smaller store size by opening six 6,000 sq.ft. to 12,000 sq.ft. stores in Abilene, Lufkin, McAllen and three other unidentified TX cities later this year. The company's typical store prototype averages 27,000 sq.ft. The company is also planning to open a 26,100 sq.ft. store in Boulder, CO.

Wild Oats Markets, Inc. (303-689-9258) plans to open a 25,000 sq.ft. supermarket at Denver West Shopping Center in Denver, CO; a 36,000 sq.ft. store at College Plaza in Santa Fe, NM; a 40,000 sq.ft. unit in Fort Collins, CO; a 29,000 sq.ft. store in Kansas City, MO and a 15,000 sq.ft. store in Princeton, NJ during 1998.

Pacific Sunwear of California, Inc. (714-701-4000) plans to open a 6,000 sq.ft. store in the Greenwich Village area of New York City, NY during December. It will be the company's first non-mall store.

Cost Plus, Inc. (510-893-7300) recently opened an 18,000 sq.ft. store at Fashion Square in Skokie, IL.

Woodworkers Warehouse (617-853-0900) recently opened a store at Hill Plaza South Shopping Center in College Township, PA.

Timber Lodge Steakhouse, Inc. (612-929-9353) recently opened a restaurant in Vernon Hills, IL. It is the company's 15th unit in IL, MN, NY, SD and WI.

Virgin Entertainment Group (213-935-1500) recently opened a 30,000 sq.ft. Virgin Megastore at The Source in Westbury, NY.

HomeBase, Inc. (714-442-5265) recently opened a 110,000 sq.ft. store at Brea Union Plaza in Brea, CA.

Houston's Restaurant (615-292-0188) plans to open an 8,000 sq.ft. restaurant at Citicorp Center in New York City, NY.

Winn-Dixie Stores, Inc. (904-783-5000) recently opened a 64,000 sq.ft. supermarket in Jacksonville, FL and a 46,000 sq.ft. supermarket at Oyster Point Marketplace in Newport News, VA.

McDonald's (630-623-3797) recently opened a restaurant in Macedonia, the company's 104th country in which it has a restaurant. The company plans to open a restaurant in Colombo, Sri Lanka during late 1998. The company also plans to open its first restaurant at Walt Disney World resort during December.

Stein Mart (904-346-1500) recently opened a 36,000 sq.ft. store at Stow Community Center in Stow, OH.

Host Marriott Services (301-380-7903), the food service provider for Grapevine Mills in Grapevine, TX, has announced the tenants for its 9,400 sq.ft. food court. The restaurants to be included will be Dickey's Barbecue, Cold Stone Creamery, Juice Works, Sbarro, World Links, La Salsa, Kelly's Cajun Grill, Cinnabon World Famous Cinnamon Rolls, Burger King, Kenny Rogers Roasters, Panda Express, TCBY Treats, Paradise Bakery & Cafe, Starbucks and Haagen Dazs.

Albertson's (208-385-6200) recently opened a 52,000 sq.ft. supermarket in Omaha, NE.

Rainforest Cafe (612-945-5400) recently opened a 22,500 sq.ft. restaurant at The Source in Westbury, NY. The company also recently opened a 14,500 sq.ft. restaurant at Plaza Forum By The Sea in Cancun, Mexico. It is the company's first location in Mexico.

MedMax, Inc. (810-948-1300) recently opened three stores in the Detroit, MI area.

Books-A-Million (205-942-3737) recently opened a 20,000 sq.ft. store at Apple Blossom Corners in Winchester, VA and an 18,500 sq.ft. store at Rivertowne Square in New Bern, NC.

Best Buy Co., Inc. (612-947-2000) recently opened 45,000 sq.ft. stores at Eastgate Square in Mount Laurel, NJ and in Whitehall, PA.

 

Lease Signings

Grubb & Ellis (CA) (714-937-0881) leased 7,676 sq.ft. to 3-Day Blinds in Orange, CA; 6,215 sq.ft. to Fiesta Craft at Bristol Marketplace Shopping Center in Santa Ana, CA and 6,185 sq.ft. to The Bible House at Tustin & Katella Plaza West Shopping Center in Orange, CA.

Potter-Taylor & Co. (916-923-0200) leased 3,675 sq.ft. to Hair Plus Beauty Supply at Stockridge Plaza in Sacramento, CA; 1,050 sq.ft. to Crystal Pure Water Systems in Sacramento, CA; 1,200 sq.ft. to Sally Beauty Supply at Red Bluff Shopping Center in Red Bluff, CA and 1,900 sq.ft. to Zaibatsu Japanese Restaurant at Laguna Crossroads in Elk Grove, CA.

Michael Salove Company Commercial Real Estate (610-664-8100) leased space to Hollywood Video at the following shopping centers: Cedarbrook Plaza in Cheltenham, PA; Cottman-Bustleton Shopping Center in Northeast Philadelphia, PA; Doylestown Shopping Center in Doylestown, PA; Queen Anne Plaza in Fairless Hills, PA; Pennypack Plaza in Holmesburg-Philadelphia, PA; Bell Run Plaza in Montgomeryville, PA; New Britain Village Square in New Britain, PA; Sanatoga Village Center in Pottstown, PA; SuperFresh Shopping Center in Somerton-Philadelphia, PA; and Center Point Place in Warminster, PA.

Sigma National, Inc. (804-320-6100) leased 1,635 sq.ft. to One Hour Moto Photo at Yoder Plaza Shopping Center in Newport News, VA.

Excess Space Disposition, Inc. (212-338-0575) subleased 22,720 sq.ft. to Beall's Outlet Stores from Winn-Dixie Stores at Eastgate Shopping Center in Americus, GA; subleased 8,450 sq.ft. to Beall's Outlet Stores from Eckerd at Taylor Square in Perry, FL; subleased 2,200 sq.ft. to Five Brothers Furniture from Payless ShoeSource in the Bronx, NY; subleased 2,460 sq.ft. to Bancomer Transfer Services from J. Baker in Jackson Heights, NY; subleased 14,100 sq.ft. to Shoe Inn from Staples in San Diego, CA and subleased 9,138 sq.ft. to Plejs, Linen Supermarket from Eckerd at Point Royale Shopping Center in Miami, FL.

Divaris Real Estate, Inc. (757-497-2113) leased 2,793 sq.ft. to Time Warner Entertainment, 951 sq.ft. to Merle Norman Cosmetics, 627 sq.ft. to Steakout; 250 sq.ft. to Island Cafe at Pinellas Square Mall in Pinellas Park, FL; 1,200 sq.ft. to Hair Cuttery and 1,600 sq.ft. Sally Beauty Supply at Hannaford Plaza in Virginia Beach, VA and 6,500 sq.ft. to Superstar Video at Winston Park Center in Coconut Creek, FL.

Grubb & Ellis (248-350-9500) leased 1,200 sq.ft. to Clothes Rack at Woodland Square in Brighton, MI.

The Goldstein Group (201-703-9700) leased 12 spaces to General Nutrition Centers at Ferry Plaza in Newark, NJ; The Mall at Beaverbrook in Lincoln Park, NJ; Prestige Plaza in Raritan Township, NJ; Middlebrook Shopping Center in Ocean, NJ; Landing Shopping Center in Landing, NJ; Town Center Plaza in East Windsor, NJ; Belleville Shopping Center in Belleville, NJ; Valley Mall in Gillette, NJ; Byram Plaza in Byram, NJ; Maple Avenue Shopping Center in Fair Lawn, NJ; Strertowne Shopping Center in Clifton, NJ and Rosman Center in Haverstraw, NY.

 

Exclusives: Leasing & Management Assignments

Tanguay-Burke-Stratton, L.L.C. (312-245-5050) has been awarded the leasing and managing responsibilities by First Washington Realty Trust for six shopping centers. They include Mallard Creek in Round Lake Beach, IL, a 143,759 sq.ft. project anchored by Omni and Wal*Mart; The Oaks in Des Plaines, IL, a 135,030 sq.ft. project anchored by Dominick's; McHenry Commons in McHenry, IL, a 100,526 sq.ft. project anchored by Omni; Pheasant Hill in Bolingbrook, IL, a 111,190 sq.ft. project anchored by Dominick's; Stonebrook Plaza in Kedzie, IL, a 95,825 sq.ft. project anchored by Dominick's and Riverside Square and River's Edge, a two-phase Dominick's anchored, 169,435 sq.ft. project in Chicago, IL. The company has been named the management agent by Tucker Development Corp. for Marketplace at Six Corners in Chicago, IL, a 123,600 sq.ft. project anchored by Jewel/Osco and Marshalls. The company has also been named the leasing agent by Cambridge Homes for Carillon Court, a 25,000 sq.ft. project in Romeoville, IL; Cambridge Plaza, a 48,000 sq.ft. project in Libertyville, IL and Liberty Hill Plaza, a 103,700 sq.ft. project anchored by Burlington Coat and Pet Supplies Plus in Libertyville, IL.

CB Commercial Real Estate of Los Angeles, CA (626-810-6447) has been selected to represent Discount Tire Center and Evans Tire & Service Centers, owned and operated by AKH Company, Inc. The two concepts prefer freestanding, endcap or in-line spaces running 4,000 sq.ft. to 5,000 sq.ft. which can accommodate four or five service bays. The company, which currently operates 80 units throughout CA, is looking to open as many as 15 units per year throughout CA in the coming three to five years.

Michael Salove Company Commercial Real Estate (610-664-8100) represents the following companies in the Philadelphia, PA metropolitan areas. Bryn Mawr Stereo, Filene's Basement, HMV Record Stores, Hollywood Video, Houston's, Kitchen Etc., NTB-National Tire & Battery, Robinson Luggage, Sears Auto Center, Sears Hardware, Sears Homelife Furniture and Sears Optical.

 

Lead Sheet

Lillie Rubin Fashions, Inc.

dba Lillie Rubin

Richard Levitt

15705 NW 13th Avenue

Miami, FL 33169

305-624-4200, Fax 628-2110

Apparel

The 38-unit chain operates locations in AL, AZ, CA, CO, FL, GA, IL, LA, MD, MO, NV, NJ, NY, NC, OH, PA, SC, TN, TX and VA. The women's apparel stores occupy spaces of 2,500 sq.ft. in downtown store fronts and regional malls. Plans call for as many as four openings in the coming 18 months. Expansion will take place nationwide. Leases running 10 years are typical.

Simply Fashion Stores Ltd.

dba Simply Fashions

Austin Englebert

PO Box 188

Birmingham, AL 35201

205-951-1700, Fax 951-1510

Apparel

The 200-unit chain operates locations in AL, AR, FL, GA, IL, IN, KY, LA, MD, MS, MO, NC, SC, TN, TX, VA and Washington, D.C. The women's apparel stores occupy spaces of 3,000 sq.ft. in strip centers. Preferred anchors include supermarkets. Plans call for 20 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 $30,000 as the average income. The company prefers a vanilla shell.

Michel Tire Co.

dba Michel Tire

Mike Geiger

PO Box 23055

Cincinnati, OH 45223

513-681-9000, Fax 681-1610

Automotive

The 57-unit chain operates locations in FL, IN, KY, OH and TN. The automotive service centers, specializing in tires, occupy spaces of 3,000 sq.ft. to 10,000 sq.ft. in freestanding facilities. Preferred co-tenants include Kmart and Wal*Mart. Plans call for 10 openings in the coming 18 months. Expansion will take place in the existing markets. Leases running 10 years, with options, are typical.

Murray's Discount Auto Store

Debbi Smith

8080 Haggerty Road

Belleville, MI 48111

313-957-8080, Fax 957-8156

Automotive

The 65-unit chain operates locations in IL, MI and OH. The automotive parts stores occupy spaces of 10,000 sq.ft. in freestanding facilities. Plans call for 20 openings in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of 100,000 within three miles earning $25,000 as the average income. Leases running five years, with three five-year options, are typical.

Association of Logos Book Stores

Maureen Cole

1949 State Route 59 #203

Kent, OH 44240

330-677-8086, Fax 677-8049

Books

The 33-unit chain operates locations in CA, CO, HI, IL, IN, ME, MA, MI, NY, NC, OH, PA, RN, TX, VA and WA. The book stores occupy spaces of 1,500 sq.ft. to 2,300 sq.ft. in downtown store fronts, freestanding facilities and strip centers. Preferred anchors include Wal*Mart and supermarkets. Plans call for two openings in the coming 18 months. Expansion will take place nationwide. Preferred demographics include a population of 100,000 to 200,000 within 25 miles earning $50,000 as the average income. Leases running three to five years are typical. The company is a member-owned trade association interested in adding member stores.

Diamonds Hallmark

Richard Rosenberg

3 Park Avenue

New York, NY 10016

212-679-2257, Fax 679-3850

Cards & Gifts

The 20-unit chain operates locations in NJ and NY. The card and gift stores occupy spaces of 4,000 sq.ft. in regional malls. Preferred anchors include better department stores. Growth opportunities are sought in the existing markets.

Bonfare Markets, Inc.

dba Bonfare Market

Donald Kaplan

830 Hillview Court, Suite 138

Milpitas, CA 95035

510-736-1214, Fax 263-6400

Convenience Store

The 24-unit chain operates locations in CA. The convenience stores occupy spaces of 3,000 sq.ft. in strip centers. Plans call for five openings in the coming 18 months. Expansion will take place in the San Francisco Bay area of CA.

Junior Food Stores, Inc.

dba Super Stop

Tim Putnam

PO Box 5338

Meridan, MS 39302

601-483-8291, Fax 693-5410

Convenience Store

The 71-unit chain operates locations in AL and MS. The convenience stores, which also sell gasoline, occupy spaces of 2,400 sq.ft. in freestanding facilities. Growth opportunities are sought in the existing markets.

K's Merchandise Mart

Richard Powers

3103 North Charles Street

Decatur, IL 62526-2999

217-875-1440, Fax 875-6884

Department Store

The 15-unit chain operates locations in IL, IN, IA and MO. The stores, selling housewares, furniture, toys, jewelry, sporting goods and giftware, occupy spaces of 75,000 sq.ft. to 100,000 sq.ft. in freestanding facilities, power centers and regional malls. Plans call for as many as four openings in the coming 18 months. Expansion will take place in the existing markets.

The Bartell Drug Company

dba Bartell Drugs

David Graef

4727 Denver Avenue South

Seattle, WA 98134

206-763-2626, Fax 763-2062

Drug Store

The 42-unit chain operates locations in WA. The drug stores occupy spaces of 11,000 sq.ft. to 20,000 sq.ft. in downtown store fronts, freestanding facilities and strip centers. Preferred anchors include supermarkets. Plans call for three openings in the coming 18 months. Expansion will take place in the existing market. Leases running 15 to 20 years are typical.

Eckerd Corp.

dba Eckerd Drug Store

Thomas Nash

8333 Bryan Dairy Road

Largo, FL 34647

813-399-6355, Fax 399-7888

Drug Store

The 1,707-unit chain operates locations in FL, GA, LA, MD, MS, NJ, NC, OK, SC, TN and TX. The drug stores occupy spaces of 10,908 sq.ft. in freestanding facilities. Preferred co-tenants include video stores. Plans call for 200 openings in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of 50,000 within two miles earning $50,000 as the average income. Leases running 20 years are typical and the company cites Walgreens as competition.

Cost Plus, Inc.

Edward Alessandrini

20 Commerce Drive

Warwick, RI 82886

401-737-6060, Fax 737-6090

General Merchandise

The 10-unit chain operates locations in MA and RI. The general merchandise stores (no soft goods) occupy spaces of 10,000 sq.ft. to 20,000 sq.ft. in strip centers. Preferred co-anchors include supermarkets. Plans call for five openings in the coming 18 months. Expansion will take place in CT and MA. Preferred demographics include a population of 100,000 within five miles. Leases running 10 years, with a 10-year option, are typical.

Mattress Discounters

Lawrence Alpert

9822 Fallard Court

Upper Marlboro, MD 20772

301-856-6755, Fax 599-8157

Home Furnishings

The 170-unit chain operates locations in CA, MD, MA, MI, NJ, PA, RI, VA and Washington, D.C. The stores, selling mattresses, occupy spaces of 3,000 sq.ft. to 4,000 sq.ft. in freestanding facilities. Plans call for as many as 25 openings in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of 200,000 within five miles earning $40,000 as the average income. Leases running five years are typical.

Verlo Mattress Co., Inc.

dba Verlo Mattress Factory Stores

Patrick Conley

W3130 State Road 59

Whitewater, WI 53190

414-473-8957, Fax 473-4623

Home Furnishings

The 65-unit chain operates locations in CO, FL, GA, IL, IN, MN, MO and WI. The stores, selling mattresses and bedding, occupy spaces of 5,000 sq.ft. to 6,000 sq.ft. in freestanding facilities and strip centers. Preferred co-tenants include Ethan Allen, Pier 1, Heilig-Meyers and Norwalk Furniture. Plans call for 15 openings in the coming 18 months. Expansion will take place in the existing markets as well as in KY, TN, IA, NE, KS, ND and SD. Preferred demographics include a population of 50,000 within three miles earning $35,000 as the average income. Leases running five years, with two five-year options, are typical and the company is franchising.

Christian Bernard Stores Corp.

dba Christian Bernard

Pierre Tardy or Steve Edwards

200 Meadowland Parkway

Secaucus, NJ 07094

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 Saks, Neiman Marcus, Bloomingdales and Nordstrom. Plans call for two openings in the coming 18 months. Expansion will take place in the Northeastern region, northern CA, FL or IL. Preferred demographics include a population of one million within 15 miles earning $100,000 as the average income. Leases running 10 years are typical.

Kings Jewelry

Dale Perelman

26 East Washington Street

New Castle, PA 16101

412-654-5531, Fax 654-5814

Jewelry

The 35-unit chain operates locations in OH, PA and WV. The jewelry stores occupy spaces of 1,200 sq.ft. in regional malls, outlet and power centers. Preferred anchors include Wal*Mart. Plans call for 40 openings in the coming 18 months. Expansion will take place in MD, OH, PA and WV. Preferred demographics include a population of 30,000 within three miles earning $25,000 as the average income. Leases running seven to 10 years are typical.

City Optical, Inc.

dba Tavel Optical Group, City Optical, Dr. Tavel One Hour Optical, Vision Values, The Sunglass Palace, Shades

Larry Tavel

2839 Lafayette Road

Indianapolis, IN 46222

317-924-1300, Fax 924-3741

Optical

The 32-unit chain operates locations throughout IN. The optical stores occupy spaces of 1,200 sq.ft. to 1,800 sq.ft. in regional malls. Preferred anchors include Lord & Taylor, Nordstrom and Saks. Growth opportunities are sought in the existing market. Leases running five to 10 years, with options, are typical and the company cites Lenscrafters and Wal*Mart as competition.

Galo Shoes, Inc.

George Galo

825 Lexington Avenue

New York, NY 10021

212-832-3922, Fax 980-1319

Shoes

The six-unit chain operates locations in NJ and NY. The stores, selling women's shoes, occupy spaces of 1,500 sq.ft. in regional malls. Preferred anchors include Bloomingdales and Saks. Growth opportunities are sought in the existing markets. Leases running 10 years are typical.

Signs By Tomorrow USA, Inc.

dba Signs By Tomorrow

George Coolidge

6460 Dobbin Road

Columbia, MD 21045

410-992-7192, Fax 992-7675

Specialty

The 70-unit chain operates locations in 20 states. The sign shops occupy spaces of 1,600 sq.ft. to 1,900 sq.ft. in strip centers. Preferred co-tenants include Home Depot, printers and office supply stores. Plans call for 25 openings in the coming 18 months. Expansion will take place nationwide. Leases running five years, with a five-year option, are typical and the company is franchising.

Olympia Sport Center

Andrew Shedlin

1014 Sheridan Road

Highland Park, IL 60035

847-433-3400, Fax 433-3593

Sporting Goods

The 52-unit chain operates locations in New England, NY and PA. The stores, selling sporting goods, athletic apparel and athletic footwear, occupy spaces of 5,000 sq.ft. to 15,000 sq.ft. in regional malls and strip centers. Plans call for 15 openings in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of at least 25,000 within three miles earning at least $40,000 as the average income. Leases running 10 years are typical.

Kenyan Enterprises, Inc.

dba Piggly Wiggly, Save-A-Lot

Ed Kenyan

501 South Main Mall

Springhill, LA 71075

318-539-9116, Fax 539-3790

Supermarkets

The 11-unit chain operates locations in AR, LA and TX. The supermarkets occupy spaces of 14,000 sq.ft. to 15,000 sq.ft. in downtown store fronts and strip centers. Plans call for two openings in the coming 18 months. Expansion will take place within the existing markets.

Trader Joe's Co. (Eastern Division)

dba Trader Joe's

Doug Rauch

938 Highland Avenue

Needham, MA 02194

617-433-0234, Fax 433-0746

Supermarket

The 95-unit chain operates locations in CT, MD, MA, NJ, NY and VA. The specialty supermarkets occupy spaces of 7,000 sq.ft. to 12,000 sq.ft. in freestanding facilities and strip centers. Plans call for 10 openings in the coming 18 months. Expansion will take place in the existing markets.

Spain's, Inc.

dba Dollar Express, Spain's

Howard Savage

1700 Tomlinson Road

Philadelphia, PA 19116

215-969-7888, Fax 676-1166

Variety

The 88-unit chain operates locations in DE, MD, NJ and PA. The stores, selling general merchandise, occupy spaces of 9,000 sq.ft. in freestanding facilities and strip centers. Preferred anchors include Kmart and Wal*Mart. Plans call for 18 openings in the coming 18 months. Expansion will take place in the existing markets. Leases running five years are typical.

 

Space Place

Idaho

Boise- Boise Towne Square is anchored by The Bon Marche, JC Penney, Mervyn's and Sears. The 875,413 sq.ft. project has space available for lease. Demographics include a trade area population of 508,379 earning $37,691 as the average household income.

For details, contact JP Realty, Inc. at (801-486-3911), Fax (486-7653).

Illinois

Arlington Heights- The Annex of Arlington Shopping Center is anchored by Sports Authority, PetsMart, JoAnn Fabrics and Pier 1. The 153,973 sq.ft. project has spaces from 2,250 sq.ft. to 10,000 sq.ft. available for lease. Demographics include a three-mile population of 136,196 earning $69,014 as the average income. In Deerfield- Lake Cook Plaza Shopping Center is anchored by Frank's Nursery, Chili's and a multi-plex sports complex. The 152,618 sq.ft. project has spaces from 1,500 sq.ft. to 5,700 sq.ft. available for lease. Demographics include a three-mile population of 75,294 earning $79,831 as the average income. In Joilet- Louis Joilet Pointe is anchored by Kmart, Phar-Mor and Kids 'R Us. The 266,775 sq.ft. project has a 3.1 acre outparcel available for lease. Demographics include a three-mile population of 27,369 earning $54,982 as the average income.

For details, contact Jim Schutter or Marty Sweeney of M&J Wilkow, Ltd. at (312-726-9622).

Chicago- A 26,000 sq.ft., three-story former Petrie Store building is available for lease at 4000 West Madison. Also in Chicago- An 18,700 sq.ft., three-story former Petrie Store building is available for lease at 11155 South Michigan. Also in Chicago- Lakeview Plaza is anchored by Minnesota Fabrics, Boston Market and Dunkin Donuts. The project has spaces from 850 sq.ft. to 10,000 sq.ft. available for lease. Demographics include a three-mile population of 546,028 earning $55,533 as the average income. The site is located across from a Jewel-Osco Supermarket.

For details, contact Gwen Callan or Mike Havdala of Atlas Partners at (312-516-5700), Fax (516-5710).

Indiana

Elkhart- Elkhart Market Centre is anchored by Wal*Mart, Sam's Club, Toy Works and Staples. The 349,115 sq.ft. project has spaces from 3,000 sq.ft. to 18,000 sq.ft. available for lease. Demographics include a five-mile population of 74,423 earning $44,752 as the average household income. The site is located between a Lowe's Home Superstore and a new Meijer store.

For details, contact Equity Investment Group at (219-426-4704).

Kansas

Leavenworth- Leavenworth Plaza is anchored by Wal*Mart, Sears, JC Penney, Westlake Hardware and Dickinson Plaza 6. The 236,358 sq.ft. project has space available for lease. Demographics include a trade area population of 91,732 earning $45,761 as the average household income. In Mission- Mission Center is anchored by Dillard's. The 344,350 sq.ft. project has space available for lease. Demographics include a trade area population of 228,097 earning $63,359 as the average household income.

For details, contact Copaken White & Blitt at (913-381-3840), Fax (383-4542) or Park Properties at (913-492-0866), Fax (492-0975).

Louisiana

Meraux- Cypress Point is anchored by Delchamps Supermarket. The 50,627 sq.ft. project has spaces of 1,600 sq.ft. to 4,000 sq.ft. and a pad site of 3,800 sq.ft. available for lease. Demographics include a five-mile population of 81,203 earning $41,245 as the average household income.

For details, contact Equity Investment Group at (404-364-2984).

Maryland

Landover- Dodge Plaza Shopping Center is anchored by Landover IGA, Payless Shoes, Rent-A-Center, Simply Fashions, McDonald's and Popeye's. The 110,000 sq.ft. project has space available for lease. Demographics include a three-mile population of 121,038 earning $47,481 as the average household income.

For details, contact Elliot Yadin of Dodge Plaza Limited Partnership at (301-773-3230, Ext. 133).

Michigan

Adrian- Adrian Plaza is anchored by Country Market, Big Lots, Colortyme, Payless Shoe and Wilson Auto Parts. The 122,236 sq.ft. project has space available for lease. Demographics include a five-mile population of 35,897 earning $38,703 as the average household income.

For details, contact Geenen DeKock Properties at (616-396-4950).

New Mexico

Farmington- Animas Valley Mall is anchored by JC Penney, Dillard's, Sears and Bealls. The 511,000 sq.ft. project has space available for lease. Demographics include a trade area population of 149,403 earning $32,275 as the average household income.

For details, contact JP Realty at (801-486-3911), Fax (486-7653).

New York

Syracuse- Great Northern Mall is anchored by Kaufmann's, Sears, The Bon-Ton, Hoyt's Cinemas and Dick's Clothing and Sporting Goods. The project has space available for lease.

For details, contact Wilmorite, Inc. at (716-464-9400).

South Carolina

North Charleston- Festival Centre is anchored by Waccamaw Pottery, Hamrick's, Piggly Wiggly, Revco and Blockbuster Video. The 321,789 sq.ft. project has spaces from 1,227 sq.ft. to 26,733 sq.ft. available for lease. Demographics include a five-mile population of 60,045 earning $40,270 as the average income.

For details, contact Equity Investment Group at (404-364-2984).

Wisconsin

Racine- Westgate Mall is anchored by Shopko and Randalls Country Market. The 219,425 sq.ft. project has in-line space available for lease. Demographics include a trade area population of 120,000 earning $33,000 as the average income.

For details, contact The Brookhill Group at (212-753-3123), Fax (371-9515).

 

Mergers & Acquisitions

Jreck Subs Group, Inc. (315-782-0760) recently acquired Giorgio's Subs, a seven-unit chain based in Seattle, WA. The company also recently signed a letter of agreement to acquire Quality Franchise Systems, Inc., based in Sacramento, CA. Quality Franchise Systems is the franchiser of Mountain Mike's Pizza, a 75-unit chain with restaurants in AZ, CA, CO, NV and OR. Jreck plans to co-brand 40 of the units. The acquisition gives Jreck more than 260 units in 15 states.

Regis Hair Stylists (612-947-7000) recently acquired seven salons from Captain's Chair of Madison, WI. The stores will eventually be renamed Regis.

Perkins Family Restaurants (901-766-6400) recently entered into a definitive merger agreement with The Restaurant Company under which TRC will acquire through a merger all of the approximately 52% of the outstanding units of the limited partnership now owned by public investors. The Restaurant Company currently owns the remaining 48% of the outstanding units of limited partnership interest.

Tuesday Morning Corp. (972-387-3562) and Madison Dearborn Partners recently entered into a definitive merger agreement in which an affiliate of Madison Dearborn will acquire Tuesday Morning Corp. A late 1997 or early 1998 closing is anticipated.

 

Real Estate Professionals Making The News

Grubb & Ellis of Metropolitan Washington, D.C. (703-918-0250) announces the following promotions: John D. Lesinski to senior vice president and member of the executive committee; John F. Hanlon to vice president; Benjamin A. Meisel to assistant vice president and Andrew D. Klaff to assistant vice president. The company also announces that Susan A. Pepper has joined the firm as a vice president. Grubb & Ellis of Atlanta (770-552-2400) announces that Linda Rains has joined the company as a retail senior vice president.

Edison Brothers Stores, Inc. (314-331-6000) recently announced the eight members who will make up the reorganized company's board of directors when it emerges from Chapter 11 protection. Alan Miller will continue as chairman of the board until his departure later this year. The new members will include: Bart A. Brown, Jr., Jeffrey A. Cole, Jacob W. Doft, H. Michael Hecht, Lawrence E. Honig, Randolph I. Thornton and Stephen E. Watson.

Whiteweld, Barrister & Brown (201-782-9700) announces that Jack Vaughn has been named leasing director of the company's commercial portfolio.