Issue Number 43 for the week of November 28, 1997
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The Dealmakers Issue Number 43 for the week of November 28, 1997.

Department Stores Expanding Nationwide

K's Merchandise Mart, Inc. trades as K's Merchandise Mart at 15 locations in IL, IN, IA and MO. The department stores occupy spaces of 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.

For more information, contact Richard Powers, K's Merchandise Mart, 3103 North Charles Street, Decatur, IL 62526-2999; 217-875-1440, Fax 875-6884.

The Elder-Beerman Stores Corp. trades as Elder Beerman at 50 locations in IL, IN, KY, MI, OH, WV and WI. The department stores occupy spaces of 75,000 sq.ft. to 150,000 sq.ft. in power centers and regional malls. Plans call for eight openings in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of 30,000 within five miles earning $45,000 as the average income. Leases running 20 years are typical.

For more information, contact Robert Bedore, The Elder-Beerman Stores, Corp., 3155 El-Bee Road, Dayton, OH 45439; 937-296-2700, Fax 296-4625.

Von Maur, Inc. trades as Von Maur at 12 locations in IL, IA and NE. The department stores occupy spaces of 75,000 sq.ft. in regional malls. Preferred co-anchors include other department stores. Plans call for two openings in the coming 18 months. Expansion will take place in the Midwestern region. Preferred demographics include a population of at least 100,000 within 10 miles earning at least $35,000 as the average income.

For more information, contact Terrence Kilburg, Von Maur, Inc., 6565 Brady Street, Davenport, IA 52806; 319-388-2200, Fax 388-2242.

Stein Mart, Inc. trades as Stein Mart at 151 locations in AL, AZ, AR, CA, CO, FL, GA, IL, IN, IA, KS, KY, LA, MS, MO, NE, NC, NV, OH, OK, PA, SC, TN, TX, VA and WI. The department stores occupy spaces of 36,000 sq.ft. in regional malls and strip centers. Preferred co-tenants include bookstores and supermarkets. Plans call for 40 openings in the coming 18 months. Expansion will take place in CA, FL, GA, IL, NV, NY, NM, MD, IA, SD, TX and WI. Preferred demographics include a population of 120,000 within five miles earning $50,000 as the average income.

For more information, contact Mike Allen, Stein Mart, Inc., 1200 Riverplace Boulevard, Jacksonville, FL 32207; 904-346-1500, Fax 858-2637.

Beall's, Inc. trades as Beall's Department Stores at 57 locations in FL. The department stores occupy spaces of 50,000 sq.ft. to 80,000 sq.ft. in regional malls and strip centers. Preferred co-tenants include general merchandise stores and supermarkets. 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 Seth Layton, Beall's, Inc., 1806 38th Avenue East, Bradenton, FL 34208; 941-747-2355, Ext. 330, Fax 747-5741.

 

Buyers & Sellers

First Capital Realty announces the sale of the 128,000 sq.ft. Murphy's Mart Shopping Center in Pasadena, MD.

For more information, contact First Capital Realty at (301-907-3200).

Greenwood LSH has the listing to sell a 16,000 sq.ft. vacant parcel of land in San Bernadino, CA. The site is suitable for a 1,600 sq.ft. restaurant or up to 4,000 sq.ft. of retail space. The land has over 200 feet of Freeway 10 frontage which has a daily traffic count of more than 180,000 vehicles. A McDonald's restaurant is located adjacent to the site. The asking price is $475,000 or the owner will ground lease or build to suit. The company also has the listing to sell 50,000 sq.ft. of vacant land on Whittier Boulevard in Whittier, CA. The site is surrounded by major retailers and the asking price is $1.1 million.

For more information, contact Terry Marks or Bruce Geller at (310-478-7713).

Trammel Crow Company represents Mobil Oil in its sale of a 21,000 sq.ft. parcel of land in Escondido, CA. The asking price is $252,000.

For more information, contact Scott Corcoran at (619-624-2733).

The Sembler Company brokered the sale of two acres of land to Carrabba's Italian Grill in Hillsborough County, FL. The restaurant will be located near Brandon Town Center and is expected to open during December.

For more information, contact Craig Sher at (813-384-6000).

The Wyndam Group recently sold the 41,000 sq.ft. Periwinkle Place in Sanibel Island, FL.

For more information, contact Thomas Robinson at (770-650-9900), Fax (650-9903).

General Growth Properties, Inc. recently acquired Valley Hills Mall in Hickory, NC. The 618,000 sq.ft. project is anchored by Belk, JC Penney and Sears and was acquired for $35 million.

For more information, contact John Bucksbaum at (312-551-5000).

Cushman & Wakefield represented Trust Company of the West in its sale of the 127,564 sq.ft. Loehman's Plaza in Bellevue, WA to Panos Enterprises, L.L.C.

For more information, contact Reynolds Haas at (206-521-0286) or Thomas C. Abbott at (206-521-0250).

United Commercial Realty represented the seller of 46,692 sq.ft. of land at the southwest corner of Bruton and Beltline Road in Balch Springs, TX to Hollywood Video.

For more information, contact Jeff Brand or Jeff Johnston at (214-526-6262).

Mid-America Real Estate Corp. represented Dodi Property in its sale of a portfolio of six Chicago, IL area shopping centers totaling 750,483 sq.ft. to First Washington Realty Trust. The projects, which are anchored by either Dominick's Finer Foods or Omni, include Riverside Square in Chicago; Mallard Creek in Round Lake Beach; The Oaks in Des Plaines; Pheasant Hill in Bolingbrook; McHenry Commons in McHenry and Stonebrook Plaza in Merrionette Park.

For more information, contact Michael George or Stanley Nitzberg at (630-954-7300).

Colonial Properties, Inc. brokered the sale of Westfarms Shopping Center in Farmington, CT. The 185,000 sq.ft. project is anchored by Borders, The Sports Authority, TJ Maxx, Linens 'N Things and Petco. The site was sold by Harbour Realty Advisors, Inc. to The Price REIT, Inc. for $20 million.

For more information, contact Gary Richetelli at (203-795-8060).

Red Oak Realty, Inc. recently acquired Colonnade at Polo Park in Midland, TX. The 108,341 sq.ft. project is tenanted by Julian Gold, Abuelo's, Tuesday Morning, Shogun's, Domain-The New American Home, Occasions Fine Jewelry and Nevada Bob's Golf. The company also recently acquired the 77,582 sq.ft. San Miguel Square in Midland, TX.

For more information, contact Neill McClung or Vickie Burge at (915-688-0144).

JDN Realty Corp. recently acquired Sutton's Plaza Shopping Center in Topeka, KS for $1.85 million. The 126,083 sq.ft. project is anchored by Bauersfeld's Supermarket and Dollar General. The site is currently 54% leased and will be redeveloped.

For more information, contact JDN Realty Corp. at (404-262-3252).

 

Financial News

Aid Auto Stores, Inc. (516-338-7889) recently entered into a new three year revolving credit facility with Foothill Capital Corporation, providing for maximum borrowing of up to $15 million. The revolving credit facility replaces the $10 million credit facility the company had with its previous lender.

Hannaford Bros. Co. (207-883-2911) reported that its third quarter sales and other revenues increased 6.1% to $820 million from $773 million during the third quarter last year. Consolidated net earnings for the quarter increased 14.6% to $22.7 million from $19.8 million last year. During the quarter, the company opened six supermarkets and relocated two others.

AFC Enterprises (404-391-9500) reported that its third quarter systemwide sales increased 14.4% to $393.4 million from $344 million. Company revenues for the quarter fell seven percent to $109.1 million from $117.3 million. Net income for the quarter fell from $1.1 million to $700,000. Comparable store sales at Popeyes increased 2.4% and 1.3% at Churchs Chicken. During the quarter, the company opened 72 restaurants. The company currently operates approximately 2,600 restaurants trading as Churchs Chicken, Popeyes Chicken & Biscuits and Chesapeake Bagel Bakery.

ShowBiz Pizza Time, Inc. (214-258-8507) reported that its third quarter revenues increased to $85.6 million from $74.8 million during the third quarter last year. Net profit for the quarter increased 73% to $6.1 million from $3.5 million. Comparable store sales increased 6.7% for the quarter. The company currently operates and franchises 313 restaurants trading as Chuck E. Cheese in 44 states.

McDonald's Corp. (630-623-6429) reported that its third quarter systemwide sales increased six percent to $8.79 billion from $8.28 billion last year. Total revenues increased eight percent to $3 billion from $2.7 billion last year, operating income increased two percent to $755 million from $744 million and net income increased two percent to $448.9 million from $440 million. During the first nine months of the year, the company opened 1,224 restaurants, which translates into one opening every five hours, and currently operates 22,246 units worldwide.

D.I.Y. Home Warehouse, Inc. (216-328-5100) reported that its third quarter net income fell to $883,000 from $1.18 million during the third quarter last year. Net sales for the quarter fell slightly to $56.4 million from $56.8 million and comparable store sales fell one percent for the quarter. The company currently operates 16 home improvement stores in northeastern OH.

Tuesday Morning Corp. (972-387-3562) reported that its third quarter income increased to $2.9 million from $698,000 last year. Net sales increased 32% to $64.2 million from $48.5 million last year. The company currently operates 315 deep-discount closeout gift stores nationwide. The stores open four times a year for six week to twelve week events during the retail industry's peak selling seasons.

Wild Oats Markets, Inc. (303-689-9258) reported that its third quarter sales increased 33% to $80 million from $60.2 million during the third quarter last year. Comparable store sales for the quarter increased six percent. Net income for the third quarter increased 3,357% to $1.8 million from $53,000 last year. During the quarter, the company acquired three supermarkets. Currently, the company operates 50 stores in 11 states and British Columbia, Canada.

Outback Steakhouse, Inc. (813-282-1225) reported that its third quarter net income increased to $20.3 million from $17.7 million last year. Revenues increased 22% to $289 million from $236 million last year and system-wide sales increased 27% to $344.8 million from $272.3 million last year. Comparable restaurant sales slipped 0.6% for the quarter. The company currently operates 432 Outback Steakhouses and 64 Carrabba's Italian Grill restaurants in 41 states.

Wendy's International, Inc. (614-764-3099) reported that its third quarter net income increased to $53 million from $46.9 million last year. Revenues increased to $526 million from $507 million and systemwide sales increased to $1.57 billion from $1.46 billion last year. During the quarter, the company opened 100 new Wendy's units and 55 new Tim Horton's units and ended the quarter with 6,626 combined units worldwide.

Musicland Stores Corp. (612-932-7700) reported that its third quarter earnings before interest, taxes, depreciation and amortization improved to $5.8 million compared to a loss of $9 million last year. The pretax loss for the quarter was reduced to $12.4 million from $28.9 million during the third quarter last year. Net loss for the quarter improved to $12.4 million from $24.2 million last year. Revenues for the quarter increased 1.8% to $373.3 million form $366.6 million with overall comparable store sales up 9.7%. Sales in the mall stores division (Sam Goody/Musicland and Suncoast Motion Picture Company) increased 6.7% to $249.1 million with comparable store sales up 11.7%. Sales in the superstore division (Media Play and On Cue) fell 6.5% to $121.5 million with comparable store sales up 5.8%. At the end of the quarter, the company operated a total of 1,372 stores (68 Media Play, 157 On Cue, 409 Suncoast, 722 Sam Goody/Musicland and 16 United Kingdom stores) in 49 states.

Checkers Drive-In Restaurants, Inc. (770-986-9799) reported that its third quarter total net revenues fell to $32.7 million from $37.1 million last year. A net loss of $1.7 million was reported as compared to a net loss of $24.2 million during the third quarter in 1996. Comparable store sales fell 6.4% for the quarter. The company currently operates 480 double drive-thru restaurants located primarily throughout the Southeastern region.

Timber Lodge Steakhouse, Inc. (612-929-9353) reported that its third quarter sales increased 32% to $6.33 million from $4.79 million during the third quarter last year. Net income for the quarter increased 38% to $275,097 from $198,245 last year. Comparable restaurant sales increased 8.7% for the quarter. The company currently operates 15 restaurants in IL, MN, NY, SD and WI.

He-Ro Group, Ltd. (201-330-1800) reported that net sales for its fiscal 1998 first quarter fell to $9.9 million from $11.6 million during its fiscal first quarter last year. A net loss of $1.1 million was reported this year, compared to a net loss of $1 million last year.

 

Sources of Financing

Bridge Capital (702-436-1000) is a direct lender providing short and medium term funds for the acquisition and refinancing of opportunistic real estate and corporate finance transactions. Minimum loan size is $3 million. Transactions are typically structured as senior debt although mezzanine loans and equity investments will also be considered. Bridge acts as a capital "partner" by providing up to 100% of required financing to acquire and reposition an undervalued asset. The lender works with borrowers who have identified an opportunity, have experience creating value but are time and capital constrained. Loan maturities range from one to three years. Pricing is based on risk relative to potential return.

The Ackman-Ziff Real Estate Group LLC (212-697-3333) recently arranged $4 million in acquisition financing for a shopping center in the Southwestern region.

Polacheck Property Management Corp. (414-273-0990) recently closed a $7.15 million mortgage loan for the owners of Timmerman Plaza, a 206,000 sq.ft. project in Milwaukee, WI.

Berkshire Mortgage Finance (800-662-5787) recently closed a $5.5 million acquisition loan for Lakeridge Village Center in Cedar Hill, TX. The 130,763 sq.ft. project is anchored by Minyard Foods. The 15-year loan carries a rate of 8.32% and amortizes over 25 years with a loan to value of 71.5%.

 

Mergers & Acquisitions

The Pantry, Inc. (919-774-6700) recently completed its acquisition of Lil' Champ Food Stores, Inc. The acquisition gives The Pantry more than 880 stores in the Southeastern region with annual revenues of approximately $1 billion.

Universal International, Inc. (612-533-1169) and 99 Cents Only Stores recently announced that they have agreed in principle to the sale of 4.5 million newly issued shares of Universal's common stock to 99 Cents Only Stores for $4 million. After issuance, this sale will represent approximately 48% of the outstanding shares of common stock of Universal. The purchase price will consist of $2 million in cash and $2 million in merchandise.

General Nutrition Companies, Inc. (412-288-4600) plans to repurchase approximately 300 of its 1,268 franchise locations in the coming 15 months. The company plans to spend between $60 and $80 million for the purchases. The company is taking this action because the stores are good, proven locations.

Rose's Holdings, Inc. (919-430-2600) plans to sell its 106-unit discount store chain to Variety Wholesalers, Inc. for $15.3 million. Variety Wholesalers, which operates more than 500 stores, plans to retain the Rose's name.

 

Who's Opening & Where

Williams-Sonoma (415-421-7900) recently opened a Williams-Sonoma Grande Cuisine store at Bradley Fair Shopping Center in Wichita, KS.

Rainforest Cafe (612-945-5400) recently opened a 20,000 sq.ft. restaurant in downtown Chicago, IL.

HomePlace (216-328-9500) recently opened a 53,000 sq.ft. store and PetsMart (602-944-7070) recently opened a 26,040 sq.ft. store at Belden Park Crossings in Canton, OH.

Ames Department Stores, Inc. (860-257-2598) recently opened stores in Manchester, NH and Mercerville, NJ.

Target (612-304-6099) recently opened a 122,000 sq.ft. store in Cobb County, GA.

Borders, Inc. (313-913-1323) plans to open a 22,000 sq.ft. bookstore in Cuyahoga Falls, OH during June 1998; a 25,000 sq.ft. store in San Diego, CA during Fall 1998; a 24,000 sq.ft. store in Los Gatos, CA during Summer 1998 and a 25,000 sq.ft. store at Cerritos Gateway Shopping Center in Cerritos, CA during Summer 1998. The company also recently opened a 42,600 sq.ft., four-level bookstore at the Ritz Tower in Manhattan, NY.

Office Depot (561-265-4258) recently opened a 29,000 sq.ft. store at Midway Plaza in Opelika, AL.

Baker's Supermarkets (402-397-4321) plans to enter the OK market when it converts three Megamarket stores and the Northwest Expressway Market Plaza IGA in Oklahoma City and the Buy for Less store in Lawton to Baker's Supermarkets in the coming months. Baker's Supermarkets, a division of Fleming, currently operates 18 supermarkets in NE.

Kohl's (414-703-7000) recently opened an 81,000 sq.ft. department store in Omaha, NE.

Schultz Sav-O Stores, Inc. (414-457-4433) recently opened a 45,000 sq.ft. Piggly Wiggly supermarket in Appleton, WI.

 

Closings

JumboSports, Inc. (813-886-9688) plans to close two stores in Atlanta, GA; three stores in Detroit, MI; two stores in Houston, TX and one store in Columbus, OH.

Winn-Dixie (904-783-5000) recently closed its 35,000 sq.ft. supermarket at Hilldale Village Shopping Center in Arlington, TX. The company closed the store because it is outdated.

Belk Department Stores (704-377-4251) plans to close its 13 Tags off-price stores in GA, NC, SC and VA during December. The company is closing the stores because they haven't kept up with sales or profit expectations. The stores range in size from 20,000 sq.ft. to 40,000 sq.ft. and operate in small and medium-sized markets.

 

Lead Sheet

American Retail Group, Inc.

dba Maurices, The Closet

Tom Karis/Mark Robillard

105 West Superior Street

Duluth, MN 55802

218-727-8431, Fax 720-2102

Apparel

The 600-unit chain operates locations nationwide. The stores, selling sportswear, occupy spaces of 4,000 sq.ft. to 5,500 sq.ft. in regional malls. Plans call for 40 openings in the coming 18 months. Expansion will take place in nationwide, exclusive of CA and FL. Leases running five years are typical.

Glik Stores, Inc.

dba Glik's

Joe Glik

3248 Nameoki Road

Granite City, IL 62040

618-876-6717, Fax 876-7819

Apparel

The 53-unit chain operates locations in IL, IN, MO and OH. The men's and women's apparel stores occupy spaces of 4,000 sq.ft. in downtown store fronts and strip centers. Preferred anchors include Wal*Mart. Plans call for eight openings in the coming 18 months. Expansion will take place in the existing markets as well as in MI. Preferred demographics include a population of eight million within three miles earning $25,000 as the average income. Leases running three years are typical.

Hub Distributing, Inc.

dba Millers Outpost

John Burgess

2501 East Guasti Road

Ontario, CA 91761

909-605-5000, Fax 605-5440

Apparel

The 292-unit chain operates locations in AR, CA, CO, NV, NM, OR, TX, UT and WA. The young men's and women's apparel stores occupy spaces of 5,000 sq.ft. to 6,000 sq.ft. in power centers and regional malls. Preferred anchors include department stores. Plans call for 30 openings in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of 250,000 within 10 miles earning $40,000 as the average income. Leases running seven years are typical and the company cites Buckle, Gadzooks and Pacific Sunwear as competition.

Rolane Corp.

dba Rolane Factory Outlet

Joseph Horn

1006 Howard Street

Greensboro, NC 27403

910-854-8602, Fax 855-1235

Apparel

The nine-unit chain operates locations in GA, NC, TN and VA. The men's and women's apparel stores occupy spaces of 8,000 sq.ft. to 24,000 sq.ft. in downtown store fronts, freestanding facilities and strip centers. Growth opportunities are sought in the existing markets.

1/2 Off Card Shop

Rob Solganik

c/o Doppelt & Co.

30195 Chagrin Boulevard M215

Pepper Pike, OH 44124

216-464-1891, Fax 464-2709

Cards & Gifts

The 42-unit chain operates locations in MI and OH. The stores, selling cards, gifts and party supplies, occupy spaces of 10,000 sq.ft. to 15,000 sq.ft. in power, specialty and strip centers. Preferred anchors include Kmart, Target, TJ Maxx, Wal*Mart and Fashion Bug. Plans call for 20 openings in the coming 18 months. Expansion will take place nationwide. Preferred demographics include a population of 200,000 within seven miles earning $45,000 as the average income. Leases running 10 years are typical.

Flash Foods, Inc.

dba Flash Foods

Tony Rentz

102 Lee Avenue

Waycross, GA 31501

912-285-4011, Fax 285-5610

Convenience Store

The 155-unit chain operates locations in FL and GA. The convenience stores occupy spaces of 2,400 sq.ft. in freestanding facilities. Plans call for 12 openings in the coming 18 months. Expansion will take place in the existing markets. The company prefers to purchase its locations.

Ranger Enterprises, Inc.

Richard McMahon

333 East State Street

Rockford, IL 61104

815-961-1700, Fax 961-1749

Convenience Store

The 10-unit chain operates locations in IL and WI. The convenience stores, which also sell gasoline, occupy spaces of 2,500 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 markets. The company prefers to own its locations and site selection is based primarily on traffic patterns.

Carlisle Restaurants, Inc.

dba Kentucky Fried Chicken

Oryn Carlisle, Jr.

1877 Center Street

Portage, IN 46368

219-762-2105, Fax 762-7852

Food

The eight-unit chain operates locations throughout IN. The fast food restaurants occupy spaces of 2,200 sq.ft. in freestanding facilities. Preferred anchors include Kmart, Wal*Mart and supermarkets. Plans call for one opening in the coming 18 months. Expansion will take place in the existing market. Preferred demographics include a population of 40,000 within one and a half miles earning $40,000 as the average income. Leases running 20 years are typical.

Chicago Pizza & Brewery, Inc.

dba BJ's Pizza, Grill & Brewery

Paul Matenko

26131 Marguerite Parkway #A

Mission Viejo, CA 92692

714-367-8616, Fax 367-8623

Food

The 28-unit chain operates locations in CA, CO, HI, OR and WA. The brewpubs occupy spaces of 6,000 sq.ft. to 10,000 sq.ft. in freestanding facilities. Plans call for as many as 10 openings in the coming 18 months. Expansion will take place in the Western region. Leases running 10 years, with options, are typical.

Dairy Belle Freeze, Inc.

dba Dairy Belle

Steven Goodere

832 North Hillview Drive

Milpitas, CA 95035

408-263-2612, Fax 263-2797

Food

The 15-unit chain operates locations in CA. The fast food restaurants occupy spaces of 1,600 sq.ft. in freestanding facilities. Preferred anchors include TJ Maxx and Wal*Mart. Plans call for two openings in the coming 18 months. Expansion will take place in the south bay area of San Francisco, CA. Preferred demographics include a population of 40,000 within three miles earning $40,000 as the average income. Leases running 10 years, with two five-year options, are typical and the company is franchising.

Schick Enterprises, Inc.

dba Taco Bell

Bob Schick

1253 10th Avenue

Menominee, MI 49858

906-863-1100, Fax 863-5326

Food

The six-unit chain operates locations in the upper peninsula of MI and in WI. The Mexican fast food restaurants occupy spaces of 1,500 sq.ft. to 2,500 sq.ft. in freestanding facilities. Preferred anchors include Wal*Mart and supermarkets. Plans call for two openings in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of 20,000 within two miles earning $23,000 as the average income. Leases running 10 years are typical.

Dunn Edwards Corp.

dba Dunn Edwards Paints, Wellborn Paints

Lynn McGinnis

215 Rossmoor Road SW

Albuquerque, NM 87105

505-877-5050, Fax 877-5050

Home Improvement

The 21-unit chain operates locations in CO, NM and TX. The stores, selling paint and sundries, occupy spaces of 5,000 sq.ft. in freestanding facilities and strip centers. Plans call for three openings in the coming 18 months. Expansion will take place in Midland/Odessa, Lubuck and Amarillo, TX. Leases running three to five years are typical and the company cites Sherwin Williams as competition.

Duron, Inc.

dba Duron Paint & Wallcovering

Bob Waugh

10406 Tucker Street

Beltsville, MD 20705

301-937-4600, Fax 937-4371

Home Improvement

The 209-unit chain operates locations in FL, GA, IN, MD, NJ, NC, OH, PA, SC, TN and Washington, D.C. The stores, selling paints and related items, occupy spaces of 2,500 sq.ft. to 3,600 sq.ft. in freestanding facilities and strip centers. Plans call for as many as 10 openings in the coming 18 months. Expansion will take place in the existing markets.

Premier Concept, Inc.

dba Impostors Faux Jewelry

Sissel Greenberg

3033 South Parker Road, Suite 120

Aurora, CO 80014

303-338-1800, Fax 338-5780

Jewelry

The 38-unit chain operates locations in AZ, CA, CO, FL, LA, MD, NJ, NV, VA, WA and Washington, D.C. The stores, selling faux jewelry inspired by famous designers, occupy spaces of 600 sq.ft. in downtown store fronts, outlet and specialty centers. Plans call for 10 openings in the coming 18 months. Expansion will take place in the existing markets. Leases running 10 years are typical.

Reeds Jewelers, Inc.

dba Reeds Jewelers

Herbert Zimmer

PO Box 2229

Wilmington, NC 28402

910-350-3100, Fax 350-3353

Jewelry

The 98-unit chain operates locations in AL, FL, GA, KS, MD, MS, NC, OK, SC, TN, VA and WV. The jewelry stores occupy spaces of 1,200 sq.ft. in regional malls. Plans call for the opening of four units in the coming 18 months. Expansion will take place within the existing markets. Leases running 10 years are typical.

Pet Supermarket

Bill Lebo

800 NW 65th Street

Fort Lauderdale, FL 33309

954-476-2600, Fax 476-9823

Pets

The 65-unit chain operates locations in CA, FL, NV, NC and SC. The stores, selling pet supplies, occupy spaces of 6,000 sq.ft. to 12,000 sq.ft. in freestanding facilities, power and strip centers. Preferred anchors include Wal*Mart and supermarkets. Plans call for as many as 30 openings in the coming 18 months. Expansion will take place in NC and SC. Preferred demographics include a population of 50,000 within three miles earning $30,000 as the average income. Leases running five years, with options, are typical.

Genesco, Inc.

dba Jarman Shoes

Frank Fox/Harvey Olsher

Genesco Park

Nashville, TN 37202

615-367-8329, 8330, Fax 367-7323

Shoes

The 156-unit chain operates locations nationwide, exclusive of the Northwestern region. The men's and boy's shoe stores occupy spaces of 1,100 sq.ft. to 1,400 sq.ft. in regional malls. Preferred co-tenants include Structure, Gap, Pacific Sunwear and sporting goods stores. Plans call for 30 openings in the coming 18 months. Expansion will take place in metropolitan areas nationwide, exclusive of the Northwestern region. Preferred demographics include a population of 200,000 within 10 miles earning $45,000 as the average income. Leases running 10 years are typical.

Neal's

Tom Maloy/Dave Maloy

2087 Elm Road

Warren, OH 44483

330-372-9887, Fax 372-9887

Shoes

The four-unit chain operates locations in OH. The shoe stores occupy spaces of 2,000 sq.ft. in freestanding facilities and strip centers. Preferred anchors include supermarkets. Growth opportunities are sought in the existing market. Preferred demographics include a population of 100,000 within 15 miles earning $40,000 as the average income. Leases running three years are typical.

Dunham's Athleisure Corp.

dba Dunham's Sports

John Palmer

5000 Dixie Highway

Waterford, MI 48329-1711

248-674-4991, Fax 674-4980

Sporting Goods

The 111-unit chain operates locations in IL, IN, IA, MD, MI, MN, NY, OH, PA, WV and WI. The sporting goods stores occupy spaces of 40,000 sq.ft. in strip centers. Plans call for 10 openings in the coming 18 months. Expansion will take place in the existing markets.

Albertson's, Inc.

dba Albertson's

Barbara Snell

250 Parkcenter Drive

Boise, ID 83726

208-395-6200, Fax 395-6888

Supermarket

The 846-unit chain operates locations in 20 states. The supermarkets occupy spaces of 45,000 sq.ft. to 65,000 sq.ft. in freestanding facilities and strip centers. Plans call for 66 openings in the coming 18 months. Expansion will take place nationwide.

The Kroger Co.

Kroger (Central Marketing Area)

Nicholas Alm

5960 Castleway West Drive

Indianapolis, IN 46250

317-579-8392, Fax 579-8092

Supermarket

The 122-unit chain operates locations in IL, IN, MI, MO and OH. The supermarkets occupy spaces of 55,000 sq.ft. to 75,000 sq.ft. in strip centers. Growth opportunities are sought in the existing markets.

Safeway, Inc.

dba Safeway (Seattle Division)

Richard Costanzo

1121 124th Avenue NE

Bellevue, WA 98005

206-456-6444, Fax 637-2253

Supermarket

The 173-unit chain operates locations in AK, ID, MT and WA. The supermarkets occupy spaces of 50,000 sq.ft. in freestanding facilities and strip centers. Plans call for as many as 10 openings in the coming 18 months. Expansion will take place in the existing markets. Leases running 20 years are typical.

Peachtree Natural Foods

Duke Liberatore

1015 Peachtree Drive

Columbus, GA 31906

706-324-5350, Fax 324-7520

Vitamins

The six-unit chain operates locations in AL and GA. The stores, selling vitamins and health foods, occupy spaces of 2,000 sq.ft. in strip centers. Preferred anchors include supermarkets. Plans call for eight 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 $50,000 as the average income. Leases running two to five years are typical.

 

Exclusives

RIPCO Real Estate Corp. (610-834-8000) has been named the exclusive leasing representative for Busybody Fitness Warehouse. Leases have been signed for a 4,000 sq.ft. unit at Whiteland Town Center in Exton, PA; a 3,000 sq.ft. unit at Market Square Shopping Center in Wilmington, DE; 4,000 sq.ft. at Mercer Mall Shopping Center in Lawrenceville, NJ; 4,000 sq.ft. at Eastgate Square Shopping Center in Morristown, NJ and a 3,500 sq.ft. store in King of Prussia, PA. The company is seeking additional sites throughout the Philadelphia, PA metropolitan area. The company has also been named the exclusive leasing agent for Crown Books in the Philadelphia, PA metrolpiltan area. Crown plans to open as many as 30 stores in the market in the coming five to seven years. Ripco has already negotiated four deals for Crown for 15,000 sq.ft. stores at Hillview Shopping Center in Cherry Hill, NJ; The Shoppes at Flowers Mill in Langhorne, PA; Warminster Town Center in Warminster, PA and Brandywine Square Shopping Center in Downingtown, PA.

United Commercial Realty (214-526-6262) has been named the exclusive real estate representative by Brinker International for its Corner Bakery concept in the Dallas/Fort Worth, TX market. Three leases have been signed including a 4,200 sq.ft. unit in West Plano; a unit at The Galleria in Dallas and a unit at Grapevine Mills in Grapevine.

Richard Craig & Associates (302-478-4780) represents Regal Cinemas in its expansion from New England to VA. Assisting Richard Craig & Associates in northern NJ is Fidelity Realty (973-966-2800). Regal is targeting communities throughout NJ with strong demographics and highway access. Currently, more than 65 screens are under development in East Windsor, Hamilton Township, Moorestown and North Brunswick.

Parker Stevenson Brokerage Corp. (916-631-0840) has been named the exclusive leasing agent by Northwest Asset Management for two 2,400 sq.ft. former Chief Auto Parts stores in North Highlands and Sacramento, CA.

CB Commercial Real Estate Group, Inc. (714-725-8516) has been named the marketing and leasing agent for Brea Marketplace and Imperial Center East in Brea, CA by Westmark Realty Advisors. The 298,706 sq.ft. Brea Marketplace is anchored by United Artists 8-plex, The Improv, Bookstar, Circuit City, Toys 'R Us, Kids 'R Us and Marshalls. The 225,934 sq.ft. Imperial Center East is anchored by Lucky, Sport Chalet, TJ Maxx and Trader Joe's.

 

Lease Signings

Boyd, Page & Associates (713-877-8400) leased 13,800 sq.ft. to YES Appliance & Furniture at Northtown Plaza Shopping Center in Houston, TX.

Timber Development Corp. (404-257-9508) leased 18,000 sq.ft. to Goodrich Theaters for a 10-screen theater at Lafayette Market Place Shopping Center in Lafayette, IN.

Pace Properties, Inc. (314-968-9898) leased 7,500 sq.ft. to Piece of Mind Books at Montclaire Square in Edwardsville, IL and 5,000 sq.ft. to West Marine Products at St. Charles Center in St. Charles, MO.

MJB Real Estate (203-222-6200) leased 6,700 sq.ft. to Auto Palace in Bridgeport, CT.

Sigma National, Inc. (804-320-6100) leased 4,771 sq.ft. to Nevada Bob's at Yoder Plaza in Newport News, VA.

The Breder Companies (305-251-1520) leased 6,141 sq.ft. to Firestone Tire Company at The Shoppes of Killian in Kendall, FL and 4,400 sq.ft. to Spin Cycle at Brownsville Renaissance Center in Miami, FL.

Capital Realty Advisors, Inc. (561-744-1088) leased 20,005 sq.ft. to Wild Oats Market at The Shops at Palm Coast in Palm Beach, FL; 1,600 sq.ft. to Tandy Corporation and 1,716 sq.ft. to Beepers Plus at Spring Park Plaza in Denham Springs, LA; 1,100 sq.ft. to Sharptype Productions, 2,200 sq.ft. to Sierra Bakery and 1,100 sq.ft. to Capital City Books at Plaza 50 Shopping Center in Carson City, NV; 2,018 sq.ft. to Sunshine Coin Laundry, 1,996 sq.ft. to Guido's Italian Market and 1,096 sq.ft. to Snipper's at Pompano Plaza in Pompano Beach, FL.

Litvin/LaRue/Greenfield Commercial Real Estate, Inc. (708-773-1555) leased 6,500 sq.ft. to P.F. Chang's China Bistro in front of Northbrook Court Shopping Center in Northbrook, IL.

Neal Realty & Investments, Inc. (954-568-0530) leased 500 sq.ft. to The Quiche Factory in Fort Lauderdale, FL and 1,500 sq.ft. to General Nutrition Center at North Lauderdale Wal*Mart Center in North Lauderdale, FL.

The Sansone Group (314-727-6664) leased 10,415 sq.ft. to Zany Brainy at The Promenade at Brentwood in St. Louis, MO.

The Macerich Company (310-394-6911) leased 45,000 sq.ft. to Best Buy, 4,375 sq.ft. to Champs Sports and 3,750 sq.ft. to Fashion 21 at Lakewood Center in Lakewood, CA; 3,880 sq.ft. to Edward's Luggage and 1,350 sq.ft. to Claires at Broadway Plaza in Walnut Creek, CA; 3,540 sq.ft. to Nascar Thunder, 1,065 sq.ft. to Things Remembered and 557 sq.ft. to Quizno's Subs at Chesterfield Towne Center in Richmond, VA; 64,500 sq.ft. to Regal Cinemas and 1,239 sq.ft. to Partees at Crossroads Mall in Oklahoma City, OK; 3,280 sq.ft. to Z Fashion, 5,462 sq.ft. to Casual Corner and 2,400 sq.ft. to Kids Footlocker at Fresno Fashion Fair in Fresno, CA; 2,424 sq.ft. to Bath & Body Works and 4,020 sq.ft. to Victoria's Secret at Greeley Mall in Greeley, CO; 1,500 sq.ft. to Friedmans Jewelers, 5,160 sq.ft. to Kirlins Hallmark and 1,200 sq.ft. to MacBirdie Golf at Green Tree Mall in Clarksville, IN; 2,158 sq.ft. to Redondo Beauty Supply at Manhattan Village in Manhattan Beach, CA; 1,626 sq.ft. to Aeropostale and 3,522 sq.ft. to Bath & Body Works at Queens Center in Queens, NY; 4,366 sq.ft. to Victoria's Secret at Rimrock Mall in Billings, MT; 5,341 sq.ft. to The Athletic Fitters, 1,553 sq.ft. to B&C Surf & Sport, 1,166 sq.ft. to For Everybody, 1,045 sq.ft. to Select Comfort, 1,853 sq.ft. to Spencer Gifts and 1,855 sq.ft. to Teachers Pet & Toys at South Towne Center in Sandy, UT; 2,000 sq.ft. to The Great Frame Up and 5,000 sq.ft. to Men's Wearhouse at Towne Center Plaza in Richmond, VA; 2,539 sq.ft. to Rave and 1,811 sq.ft. to Mothertime at Valley View Center in Dallas, TX and 1,550 sq.ft. to Afterthoughts, 2,932 sq.ft. to Citi Wear, 2,317 sq.ft. to Doumitt's Shoes, 2,316 sq.ft. to John T's Gifts, 4,398 sq.ft. to Kinney Shoes, 600 sq.ft. to Lee Nails, 2,908 sq.ft. to Northern Reflections, 3,272 sq.ft. to Pacific Sunwear, 2,777 sq.ft. to PJ's and 600 sq.ft. to Show Wiz at Vintage Faire Mall in Modesto, CA.

Urban Retail Properties Co. (312-915-2500) leased 1,575 sq.ft. to Gymboree at Riverside Square in Hackensack, NJ.

CB Commercial Real Estate Group (847-948-5510) leased 2,200 sq.ft. to E-Z Tan at Shops at Lake in Hills in Lake In The Hills, IL; 1,860 sq.ft. to National Voice Data at County Line Square in Burr Ridge, IL; 1,143 sq.ft. to Mail Boxes Etc. at Geneva Crossing in Carol Stream, IL and 1,133 sq.ft. to Horizon Bank Loan Store at Michigan City Town Center in Michigan City, IN.

 

Space Place

Alabama

Birmingham- Roebuck Marketplace is anchored by Winn-Dixie Marketplace, Goody's, McRae's and Harco. The 167,000 sq.ft. project has space available for lease. Demographics include a trade area population of 120,000 earning $36,000 as the average household income. In Huntsville- Blue Spring Village is a 70,000 sq.ft. project formerly anchored by Winn Dixie and Big B Drugs. Both spaces are] available for lease. Demographics include a trade area population of 48,000 earning $35,000 as the average household income. In Opelika- Parkway Shopping Center is anchored by Kroger, Kroger Drug and Movie Gallery. The 60,200 sq.ft. project has space available for lease. Demographics include a trade area population of 60,500 earning $37,000 as the average household income. In Prattville- Heritage Place is anchored by Movie Gallery and Crestview Drug. The 30,000 sq.ft. project has space available for lease. Demographics include a trade area population of 45,000 earning $35,000 as the average household income.

For details, contact Louise Jennings of JP Properties, Inc. at (770-352-0056).

California

Merced- Merced Mall is anchored by Sears, JC Penney, Mervyn's and Target. The 500,000 sq.ft. project has spaces of 2,250 sq.ft., 3,120 sq.ft., 3,500 sq.ft. and 4,280 sq.ft. available for lease. Demographics include a five-mile population of 60,000 earning $30,000 as the average income. In Santa Rosa- Coddingtown Mall is anchored by Macy's, Gottschalks and JC Penney. The one million sq.ft. project has spaces of 1,980 sq.ft., 2,360 sq.ft., 2,454 sq.ft. and 4,620 sq.ft. available for lease. Demographics include a five-mile population of 100,000 earning $43,000 as the average income. Also in Santa Rosa- Montgomery Village is anchored by Ross. The 300,000 sq.ft. project has a 3,000 sq.ft. space available for lease. Demographics include a five-mile population of 150,000 earning $50,000 as the average income.

For details, contact David Codding of Codding Enterprises at (707-584-7550), Fax (586-9569).

Colorado

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. In Denver- Lakeside Mall is anchored by Target, Montgomery Ward 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.

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

Florida

Marianna- Oak Station is anchored by Kmart, Food World and Big B Drugs. The project has a 1,400 sq.ft. space available for lease.

For details, contact Amy Rhymer of Edens & Avant at (803-779-4420), Fax (765-0684).

Georgia

Bainbridge- Bainbridge Mall is anchored by Belk, Goodys, Helig Meyers and Maxway. The project has a 916 sq.ft. former restaurant space and a 2,400 sq.ft. mall space available for lease.

For details, contact Amy Ryhmer of Edens & Avant at (803-779-4420), Fax (765-0684).

Virginia

Midlothian- Genito Crossing Shopping Center is anchored by Food Lion and CVS. The 79,407 sq.ft. project has spaces of 1,100 sq.ft. and 1,327 sq.ft. available for lease.

For details, contact Carla Corley of JDN Realty at (404-262-3252), Fax (364-6444).