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The
Dealmakers Issue Number 13 for the week of April 10, 1998.
Home
Improvement Retailers Seeking Sites
Menard,
Inc. trades as Menard's at 134 locations in IL, IN, IA, MI, MN, NE, ND, SD and WI. The home improvement stores occupy spaces of
161,000 sq.ft. to 170,000 sq.ft. in freestanding facilities and power centers. Preferred co-anchors include Wal*Mart. Plans call for 18 openings in the coming 18
months. Expansion will take place in the
Midwestern region. Leases running 10 years
are typical.
For more information, contact Marv Prochaslea,
Menard, Inc.,4777 Menard Drive, Eau Claire, WI 54703-9604; 715-874-5911, Fax 876-5901.
Paul's
Lumber Do-It Center operates five locations in OH. The
stores, selling hardware and lumber, occupy spaces of 14,000 sq.ft. in freestanding
facilities. Plans call for one opening in the
coming 18 months. Expansion will take place
in the existing market. Preferred
demographics include a population of 25,000 within five miles earning $40,000 as the
average income.
For details, contact The Director of Real Estate,
Paul's Lumber Do-It Center, 8018 French Street, Garrettsville, OH 44231-1012;
330-527-4301, Fax 527-5785.
Kwal-Howells,
Inc. trades as Kwal-Howells at 54 locations in CO, ID, NM, TX and VT. The home improvement stores occupy spaces of 6,000
sq.ft. in freestanding facilities and strip centers.
Preferred anchors include Kmart, Target and Wal*Mart. Plans call for six openings in the coming 18
months. Expansion will take place in CO, KS,
OK and TX. Preferred demographics include a
population of 35,000 within 10 miles earning $35,000 as the average income. Leases running three to five years are typical.
For more information, contact Ralph Reeves,
Kwal-Howells, Inc., 3900 Joilet Street, Denver, CO 80239; 303-371-5600, Fax 373-5688.
Eagle
Hardware & Garden, Inc. trades as Eagle Hardware & Garden at 32 locations in AK,
CA, CO, HI, MT, OR, UT and WA. The home
improvement stores occupy spaces of 120,000 sq.ft. in freestanding facilities and strip
centers. Growth opportunities are sought in
the existing markets.
For more information, contact Rich Takata, Eagle
Hardware & Garden, Inc., 981 Powell Avenue SW, Renton, WA 98055; 425-227-5740, Fax
204-5169.
Blonders,
Inc. trades as Blonders at nine locations in OH. The
stores, selling paints, wall coverings and window treatments, occupy spaces of 3,500
sq.ft. in freestanding facilities and strip centers.
Growth opportunities are sought in the existing markets.
For more information, contact Mike Roesch,
Blonders, Inc., 4121 Carnegie, Cleveland, OH 44103; 216-391-0363, Fax 391-0660.
Dykes
Lumber Company, Inc. trades as Dykes Lumber Company at seven locations in NJ and NY. The home improvement stores occupy spaces of
18,000 sq.ft. in freestanding facilities. Growth
opportunities are sought in the existing markets.
For more information, contact Charles Kreyer,
Dykes Lumber Company, Inc., 1899 Park Avenue, Weehawken, NJ 07087; 201-867-0391, Fax
867-2981.
Food
Tenants Hungry for Sites Nationwide
Ameriking,
Inc. trades as Burger King at 240 locations in CO, GA, IL, IN, KY, NC, OH, TN, TX, VA and
WI. The fast food restaurants occupy spaces
of 2,500 sq.ft. to 3,500 sq.ft. in downtown store fronts, freestanding facilities,
regional malls, outlet and power centers. Preferred
anchors include Best Buy, Target and supermarkets. Growth
opportunities are sought in the existing markets. Preferred
demographics include a population of 30,000 within one mile earning $30,000 as the average
income. The company prefers to purchase its
locations.
For more information, contact Larry Gadola,
Ameriking, Inc., 2215 Enterprize Drive, Westchester, IL 60154; 708-947-2150, Fax 947-2160.
Eat
N Park Restaurants operates 70 locations in OH, PA and WV.
The family restaurants occupy freestanding facilities on 1.5 acres of land. Preferred anchors include Kmart, Wal*Mart and
supermarkets. Plans call for eight openings
in the coming 18 months. Expansion will take
place in the existing markets. Leases running
30 years are typical.
For more information, contact Steven Esposito, Eat
N Park Restaurants, 410 Vista Park Drive, Pittsburgh, PA 15205-1208; 412-494-0250, Fax
788-2855.
Sweet
Factory, Inc. trades as Sweet Factory at 237 locations nationwide. The stores, selling bulk candy and related gifts,
occupy spaces of 500 sq.ft. to 1,000 sq.ft. in regional malls and specialty centers. Preferred anchors include Dillard's, Macy's, May
Co. stores and Nordstrom. Plans call for 40
openings in the coming 18 months. Expansion
will take place nationwide. Preferred
demographics include a population of 150,000 within 10 miles earning $45,000 as the
average income. Leases running 10 years are
typical.
For more information, contact Jerry Silverman,
Sweet Factory, Inc., 10343 Roselle Street, Suite A, San Diego, CA 92121; 619-558-6771, Fax
558-8911.
Castle
Rose, Inc. does business as Mickey Finn's Sports Cafe at seven locations in CO and NE. The sports bar and grills occupy spaces of 3,500
sq.ft. to 4,500 sq.ft. in strip centers. Preferred
anchors include supermarkets. Plans call for
the opening of four units in the coming 18 months. Expansion
will take place in the Midwestern region. Preferred
demographics include a population of 20,000 within two miles earning $25,000 as the
average income. Leases running five years are
typical.
For more information, contact John Vonnes, Castle
Rose, Inc., 207 Galvin Road, North Bellevue, NE 68005; 402-291-2174, Fax 291-2345.
Who's
Opening & Where
Wolf
Camera (404-633-9000) recently opened camera stores in Bloomingdale and Wheaton, IL and at
North Oaks Center in Houston TX. The company
is planning to open four more stores in the Chicago, IL market and three more stores in
the Houston, TX market in the coming months.
Sears,
Roebuck & Co. (847-286-0545) plans to open a full-line department store at a former
Mervyn's location at Crossroads Mall in Boulder, CO during Fall. The store will replace a smaller Sears store that
only sold hardlines.
Best
Buy (612-947-2000) recently opened a store in Knoxville, TN. It is the company's first unit in the Knoxville
market.
General
Cinema Theatres (617-264-8000) plans to open a 58,000 sq.ft., 14-screen multiplex at
Greenwood Park Mall in Indianapolis, IN. The
theatre will replace two existing theatres operated by General Cinema at the project.
Elder-Beerman
Stores Corp. (937-296-2805) plans to open a 119,814 sq.ft. department store at a former
Lazarus location at Millcreek Mall in Erie, PA during August. The store will be the company's first in PA.
Popeyes
Chicken & Biscuits (770-353-3148) recently opened 33 restaurants in GA and NC at
former Hardee's locations the company recently required.
Dunham's
(248-674-4991) is looking to open three stores in the Milwaukee, WI market.
Regal
Cinema (423-922-1123) plans to open an 18-screen movie theater at Springsgate Village in
Miami, FL early next year.
Au
Bon Pain Co. (617-423-2100) recently changed the name of its St. Louis Bread restaurants
to Panera Bread and is looking to expand the chain nationwide.
Kohl's
Department Stores (414-703-7000) recently opened seven stores in Greensboro and
Winston/Salem, NC; West Town, Farragut and Knoxville, TN and Shawnee, KS. The TN units are the company's first in the state.
J.B.
White (334-288-3500) recently opened a 160,000 sq.ft. department store at Augusta Mall in
Augusta, GA.
New
World Coffee & Bagels, Inc. (212-343-0552) recently signed its first co-branding
agreement with Carvel Ice Cream in which the two companies will share space at a location
in Manhattan, NY.
Edwards
Food Store (908-965-3442) recently opened a supermarket in Teaneck, NJ. C. Raimondo & Sons Construction Co., Inc.
(201-461-5550) served as general contractor for the 55,000 sq.ft. freestanding store.
Computer
City (214-360-1700) plans to remodel 30 stores and open as many as 30 new stores with its
latest retail concept. The stores will have a
cyber section offering Internet products and information as well as a business solutions
center.
Home
Depot (770-433-8211) recently began operating its store in Buckhead, GA 24 hours a day. It is the company's first GA unit to operate
around the clock and 11th overall. The others
are located in CA, NJ and NY.
Haverty
Furniture Companies, Inc. (404-881-1911) plans to open a 40,000 sq.ft. store in
Springfield, MO and a 27,000 sq.ft. store at Valley View Mall in Roanoke, VA late this
year.
Wrapsters,
Inc. (561-487-0563) a new restaurant concept that features gourmet wrap sandwiches,
recently secured funding in excess of $1 million. The
company plans to begin an aggressive expansion campaign, both nationally and
internationally. The company is anticipating
opening as many as 15 company-owned units and selling 100 franchises this year. Currently, the company operates two restaurants in
the Boca Raton, FL market.
CVS
Corp. (401-765-1500) is planning to open four drug stores in the Fort Wayne, IN market his
year.
Hannaford
Bros. (207-883-2911) plans to open a 55,000 sq.ft. supermarket in Kiln Creek, VA next
month.
Lowe's
Cos., Inc. (910-658-4223) plans to open a home improvement store in Roanoke, VA by the end
of the year.
Exclusives
Kravco
Company (610-768-6300) has been appointed the leasing and merchandising consultant for
North Bridge District in Chicago, IL. North
Bridge is a multi-use, multi-block development with more than 2.1 million sq.ft. of new
construction on North Michigan Avenue. The
project will be anchored by a 260,000 sq.ft. Nordstrom department store, three hotels, an
entertainment complex and retailers.
The
Breder Companies (305-251-1520) recently added the following projects to its management
portfolio: Gulf Points Shopping Center in Ft. Meyers; South Gate Shopping Center in Lake
Wales; Village Plaza Shopping Center in Sarasota; Town and Country Shopping Center in
Sarasota; Ringling Shopping Center in Sarasota; Temple Terrace Shoppes in Tampa;
University East Shopping Center in Thonotasassa and South Highlands Shopping Center in
Lake Placid.
Pliskin
Realty & Development, Inc. (516-997-0100) is the exclusive leasing agent for Sunrise
Plaza Shopping Center in Lindenhurst, NY. The
250,000 sq.ft. project is anchored by Sears, Rock Bottom, Genovese, King Kullen, Family
Dollar and Lone Star Steakhouse. Approximately
8,300 sq.ft. is available for lease.
Litvin/LaRue/Greenfield
Commercial Real Estate, Inc. (630-773-7500) is the exclusive leasing agent of Grand Pier
Center in Chicago, IL. The 400,000 sq.ft.
project is anchored by Dominick's and Century Theaters.
The company is also the exclusive leasing agent of the 365,000 sq.ft. Village
Square of Northbrook in Northbrook, IL and the 175,000 sq.ft. Shops of Oak Brook Place in
Oak Brook, IL.
Real
Estate Professionals Making News
Tanger
Factory Outlet Centers, Inc. (910-274-1666) announces that Jerry Teitelbaum has joined the
company as assistant vice president of leasing, development properties. In his new position, Teitelbaum will focus on the
leasing of Tanger's development properties as well as operating factory outlet shopping
centers nationwide.
Homeland
Stores, Inc. (405-879-6600) has named David Clark president and chief executive officer.
Sears,
Roebuck and Co. (847-286-8309) announces the appointment of Billye Alexander as senior
vice president-northwest region. Alexander
will be responsible for nearly 100 Sears full-line stores in 12 states.
Braun's
Fashion Corp. (612-551-5000) announces that William Prange was been named chief executive
of the 180-store chain.
Kravco
Company (610-768-6300) announces that Mary Jane Morrow has joined the company as vice
president of finance and chief financial officer.
Staples,
Inc. (508-370-8500) announces the promotion of James C. Peters to president of U.S.
stores.
Lids
Corp. (781-326-9400) announces that Jack Chadsey has been named chief executive officer;
Nancy Babine-Kucinski, current Lids president, has been named chief operating officer;
Benjamin Fischman, founder, has been named vice president of marketing and product
development; and Deborah Checinski has been named vice president, general merchandise
manager.
Combined
Properties (202-293-4500) announces that Joseph Flood has joined the company as a senior
leasing representative. Flood will be
responsible for leasing a portfolio of shopping centers in the Washington, D.C.
metropolitan market.
CenterAmerica
Property Trust (713-660-4300) announces that Dave Belock has joined the company as vice
president-new development.
Sigma
National, Inc. (804-320-6100) announces that Frank Galleher III has joined the company as
a tenant representative and that C.J. Blankenbeckler has joined the company as an
associate broker.
New
Construction
Taubman
Centers, Inc. plans to break ground during Fall in International Plaza Shopping Center in
Tampa, FL. The one million+ sq.ft. project
will be anchored by a 185,000 sq.ft. two-level Nordstroms Department Store and a 120,000
sq.ft. Lord & Taylor department store. The
mall will be built adjacent to Tampa International Airport and is expected to open during
2001.
For more information, contact Taubman Centers at
(248-258-6800).
Collett
& Associates and Sooner Investments recently broke ground on Blackbob Marketplace in
Olathe, KS. The 306,000 sq.ft. project will
be anchored by a 65,800 sq.ft. Hen House supermarket.
Space for two additional anchors will also be developed. The site is expected to open during March 1999.
For more information, contact Collett &
Associates at (704-376-0523).
The
Irvine Company recently began construction of phase II of Irvine Spectrum Center in
Irvine, CA. Phase II will be anchored by a
55,000 sq.ft. Dave & Buster's and The Cheesecake Factory. Other tenants will include Gary's Island, Rock
Bottom Brewery, Cybersmith, Jonny Rockets, Limbo Lounge, Sing Sing, O My Sole, Nascar
Silicone Motor Speedway, All Star Collectibles, Big Entertainment, Canyon Cafe, Coffee
Bean & Tea Leaf, Skechers, Dapy, Glow and Wetzel's Pretzels. This phase is expected to open during July. In addition, the company has begun marketing phase
III of the project two years ahead of schedule. Phase
III will encompass 500,000 sq.ft. of additional retail space to bring the project's total
GLA to more than one million sq.ft. when it is completed during Summer 2000. Phase I, which is already open, is anchored by a
21-screen Edwards Cinemas, Bertolini's Authentic Trattoria, Champps Americana, P.F.
Chang's China Bistro, Wolfgang Puck Cafe, Sloppy Joe's, Barnes & Noble, Blockbuster
Music, Sega City and a 10-unit food court.
For more information, contact Hollis &
Associates, the project managers at (714-789-9180).
LATCO
Enterprises Real Estate Group recently completed development of Garden Plaza Shopping
Center in Santa Barbara, CA. The 50,000
sq.ft. project consists of a 30,000 sq.ft. OfficeMax store and a 20,000 sq.ft. Smart &
Final store.
For more information, contact Chris Lattanzio at
(209-431-4091).
Simon
DeBartolo and Chelsea GCA Realty recently announced plans to develop Orlando Premium
outlets in Orlando, FL, near Disney World. The
440,000 sq.ft. project is expected to open during early 2000.
For more information, contact Simon DeBartolo at
(317-636-1600) or Chelsea GCA Realty at (973-228-6111).
CenterAmerica
plans to develop Beltway South in Houston, TX. The
130,000 sq.ft. project will be anchored by a 62,308 sq.ft. Albertson's Supermarket. Space for a second anchor, four pad sites and
28,200 sq.ft. of small shop space will also be developed.
This project is the company's first new development project. The company, which owns 109 shopping centers
throughout FL, LA and TX, previously concentrated its efforts on acquisition and
redevelopment of centers.
For more information, contact Scott MacDonald of
CenterAmerica at (713-660-4300).
The
Rouse Company recently completed construction and opened Oviedo Marketplace in Oviedo, FL. The 820,000 sq.ft. project is anchored by a
200,000 sq.ft. Dillard's Department Store, a 180,000 sq.ft. Gayfers department store,
Barnes & Noble, Bed Bath & Beyond, Footlocker Superstore, For Your Entertainment
and a 22-screen Regal Cinemas. Restaurants
include Cha Cha Coconuts, Chamberlin's Market and Cafe, Ben & Jerry's Cafe, Smoothie
Bee, Chick-Fil-A and Salad Creations. In
addition, more than 225,000 sq.ft. of specialty stores are included.
For more information, contact The Rouse Company at
(410-992-6326).
Developers
Diversified Realty Corporation is developing phase II of Peach Street Square Shopping
Center in Erie, PA. Phase II will consist of
a 114,834 sq.ft. Home Depot store, a Circuit City store and a PetsMart store. Phase I is anchored by Wal*Mart, Kohl's, Lowe's,
Media Play and Cinemark.
For more information, contact Developers
Diversified Realty Corp. at (440-247-4700), Fax (247-1118).
Financial
News
Borders
Group, Inc. (313-913-1323) reported that its fiscal 1997 consolidated sales increased
15.7% to $2.266 billion from $1.958 billion during FY96.
Border superstores sales increased 31.9% to $1.264 billion from $958 million the
previous year. Comparable store sales at
Borders increased eight percent for the year. Sales
in the Waldenbooks division fell 1.2% to $968.2 million from $979.7 million. Comparable store sales were flat. The company currently operates 203 Borders stores
and 923 Waldenbook stores nationwide.
Charming
Shoppes, Inc. (215-245-9100) reported that its 1997 fiscal year net income was $10.8
million after posting a $7.23 million loss during FY96.
Fiscal year sales increased slightly to $1.0165 billion from $1.0162 billion during
the previous year. Comparable store sales for
the year increased three percent. During the
year, the company opened 25 stores and closed 24 and ended the year operating 1,135 stores
trading as Fashion Bug and Fashion Bug Plus in 42 states.
During 1998, the company plans to downsize 100 stores, eliminate the men's
department at its stores and close 65 underperforming units.
Gadzooks,
Inc. (214-991-5500) reported that its fiscal 1997 net income increased to $8.28 million
from $7.99 million during fiscal 1996. Net
sales for the year increased to $171.6 million from $128.3 million with comparable store
sales up 1.8% for the year. The company
currently operates 257 mall-based casual apparel stores in 30 states.
Deb
Shops, Inc. (215-676-6000) reported that its fiscal year net sales increased to $205
million from $187 million the previous year. Net
income was $6.6 million after the company posted a $3.8 million loss during 1996. The company currently operates 269 specialty
apparel stores in 34 states.
Kohl's
Corporation (414-703-7000) reported that its 1997 net income increased 37.9% to $141.3
million from $102.5 million during 1996. Net
sales increased 28.1% to $1.07 billion from $846 million the previous year. Comparable store sales increased 10% for the year. In the coming year, the company plans to open 32
stores. Currently, the company operates 182
department stores in 21 states.
Garden
Ridge Corp. (281-579-7901) reported that net sales for its fiscal year increased 35% to
$304.7 million from $225.3 million the previous year.
Comparable store sales increased 10% for the year.
Net income increased 42% to $11.4 million from $8.03 million the previous year. The company currently operates 21 stores offering
floral, housewares, seasonal, pictures, frames, candles, party supplies, pottery, crafts,
home accents and baskets in TX, FL, GA, KY, MO, NC, OK, SC, TN and VA.
Toys
'R Us, Inc. (201-599-7850) reported that its 1997 net sales increased 11% to $11 billion
from $9.9 billion during 1996. Net earnings
for the year were $490 million, up from $427 million during the previous year. During 1997, the company opened 19 toy stores in
the U.S. and 27 toy stores in Australia, Canada, France, Japan, Portgual, Spain,
Switzerland and the United Kingdom. In
addition, the company's franchising and joint venture operation added 18 stores around the
world. The Babies 'R Us division acquired 73
Baby Superstores and opened 19 new locations while Kids 'R Us added three locations. During 1998, the company plans to open 15 toy
store in the U.S., approximately 35 international toy stores including 15 franchised units
and as many as 20 Babies 'R Us stores. Currently,
the company operates 1,454 Toys 'R Us stores; 215 Kids 'R Us stores; 98 Babies 'R Us
stores and two KidsWorld stores worldwide.
Sunglass
Hut International (800-767-0990) reported that its fiscal 1997 sales increased 9.9% to
$573.8 million from $522.3 million. Comparable
store sales were flat. For the year, the
company posted a net loss of $69.7 million, compared to a net loss of $225,000 during the
previous year. The company announced that it
plans to close 250 underperforming stores, including its 26-unit EyeX chain of
prescription stores. Currently, the company
operates 2,111 sunglass stores nationwide and in Canada, the Caribbean, Europe, Australia,
New Zealand and Singapore, as well as 78 Watch Station stores.
Hills
Stores Company (781-821-1000) reported a net loss for 1997 of $9 million, as compared to a
net loss of $35.1 million during 1996. Total
sales for the year fell slightly to $1.768 million from $1.878 million the previous year. The company currently operates department stores
in OH, IN, NY, PA and WV.
Ames
Department Stores, Inc. (860-257-2000) reported that its fiscal 1997 net income nearly
doubled to $34.5 million from $17.3 million during fiscal 1996. Net sales for the year increased 3.3% to $2.23
billion from $2.162 billion the previous year. Comparable
store sales for the year increased 2.1%. During
1998, the company plans to open as many as 10 department stores. Currently, the company operates 298 stores in 14
Northeastern states.
Buyers
& Sellers
Weingarten
Properties recently formed a $200 million real estate investment fund with Harvard Private
Capital Group and Lubert-Adler Real Estate Opportunity Fund, L.P. The fund has been established to acquire shopping
centers in the northeastern region. It seeks
to take advantage of opportunities that exist in the current real estate marketplace by
pursuing strategies such as acquiring assets from distressed sellers at values
substantially below market value and replacement costs, acquiring assets that do not
attract the attention of the larger real estate funds and institutions because of their
size, condition and/or negative perception; and enhancing, redeveloping and marketing
these assets utilizing value-added techniques.
For more information, contact Weingarten
Properties at (610-896-9680).
Millennium
Properties, Inc. recently completed the auction sale of seven former Handy Andy and
Central Hardware Stores on behalf of Belgian Conglomerate GIB, owner of the stores through
bankruptcy. The properties sold include: a
71,205 sq.ft. store in Memphis, TN. This
building was sold to Commercial Net Lease who is redeveloping the site for Office Depot
and another tenant; a 58,911 sq.ft. store in Memphis, TN which was sold to Computer
Associates for their corporate headquarters; a 91,458 sq.ft. store in Grand Rapids, MI was
sold to Space Source; an 84,891 sq.ft. store in Toledo, OH was sold to a Toronto
investment group; a 90,840 sq.ft. store in Toledo, OH was sold to a local investment
group; a 53,760 sq.ft. store in St. Louis, MO was sold to a local investor; and a 78,000
sq.ft. store in Merrillville, IN was sold to a local investment group.
For more information, contact Daniel Hyman at
(312-228-3003).
Syndicated
Equities Corporation brokered the sale of a Walgreen's drug stores in Richmond, VA and Las
Cruces, NM. The purchase prices were $2.485
million and $3.377 million, respectively. Both
properties were acquired by a Chicago, IL area investor who had recently sold a large
tract of farmland for development.
For more information, contact Syndicated Equities
Corporation at (312-640-9020).
Ostendorf
Morris recently brokered the sale of Meadow Park Plaza in Wilmington, OH. The 182,000 sq.ft. project is anchored by Wal*Mart
and Kroger.
For more information, contact Rob Taylor or John
Frank at (513-421-4884), Fax (421-1215).
Fraser
Enterprises has the listing to sell a Hollywood Video store in Rocky Mount, NC. The project has a 15 year lease in place. The company also has the listing to sell a
Hollywood Video in Sanford, NC. The project
has a 15 year lease in place. Both
properties are ideal for 1031 exchanges.
For more information, contact Bob Fraser at
(407-774-7335).
Rivercrest
Realty Associates recently acquired Tottenville Square in Staten Island, NY. The project has a 25,000 sq.ft. former A&P
store that is being subdivided and is available for lease.
For more information, contact Helen Vitaliano at
(800-454-0322).
Towle
Real Estate brokered the sale of a property net leased to Video Update in Brooklyn Park,
MN. The sale price was $950,000.
For more information, contact Keith Sturm or
Michael Houge at (612-347-9332).
CB
Commercial brokered the sale of Chandler Marketplace in Chandler, AZ. The seller was Ray & Alma School, LLC and the
buyer was Don Carleton Family Trust.
For more information, contact Robert Young at
(602-735-5576).
Holliday
Fenoglio, L.P. brokered the sale of a portfolio of malls totaling 1,428,290 sq.ft. The projects include Lakeshore Mall in
Gainesville, GA; Glynn Place Mall in Brunswick, GA and Valdosta Mall in Valdosta, GA. The company also brokered the sale of The Fashion
Mall Keystone at The Crossing, a 681,000 sq.ft. project in Indianapolis, IN.
For more information, contact Jack Crews, Barry
Brown or Jim Batjer at (214-265-0880).
Rein
& Grossoehme brokered the sale of Westside Plaza in Phoenix, AZ. The 74,416 sq.ft. project was sold by Rubin
Properties to Sultan Lalani for $2.9 million. The
company brokered the sale of a 4,000 sq.ft. Peter Piper Pizza building in Goodyear, AZ. The sale price was $395,000. The company brokered the sale/leaseback of the
3,816 sq.ft. 5 & Diner at Arrowhead Towne Center in Phoenix, AZ. The buyer was Midtown Niki Group and the sale
price was $1.225 million. The company also
brokered the sale of a 4,000 sq.ft. freestanding Peter Piper Pizza restaurant in Goodyear,
AZ. The sale price was $395,000. The company also brokered the sale of Shaw Butte
Plaza in Phoenix, AZ. The 25,120 sq.ft.
project was sold for $2.275 million.
For more information, contact Mark Rein, Steve
Grossoehme or Jerry Robers at (602-954-7000), Fax (954-7001), E-mail
(mail@high-yield.com).
SDM,
Inc. has the listing to sell a 24,000 sq.ft. shopping center in Sequin, TX. The asking price is $1.3 million and financing is
possible.
For details, contact Marie Schmidt at
(713-626-2945), Fax (961-2830).
Divaris
Real Estate, Inc. represented the seller in the sale of a one acre parcel of land at
Hannaford Plaza in Virginia Beach, VA. The
buyer was ACL Development Corp. who plans to develop a Hollywood Video store.
For more information, contact Divaris Real Estate
at (804-497-2113).
Lead
Sheet
AIJJ
Enterprises
dba
Foxmoor, Ups-N-Downs, Caren Charles, Rainbow
Andre
Nikol
1000
Pennsylvania Avenue
Brooklyn,
NY 11207
718-485-3000,
Fax 485-3807
Apparel
The
600+-unit chain operates locations nationwide. The
apparel stores occupy spaces of 1,800 sq.ft. to 10,000 sq.ft. in downtown store fronts,
regional malls and strip centers. Plans call
for 50 openings in the coming 18 months. Expansion
will take place nationwide.
Haband
Company
dba
Haband Outlet Stores
Richard
Elia
100
Fairview Avenue
Prospect
Park, NJ 07530
973-956-2919,
Fax 942-1736
Apparel
The
17-unit chain operates locations in NJ and PA. The
apparel stores occupy spaces of 4,000 sq.ft. in strip centers. Preferred anchors include supermarkets. Plans call for the opening of four units in the
coming 18 months. Expansion will take place
in the existing markets.
V.I.P.,
Inc.
dba
VIP Discount Auto Centers
Robert
Spencer
12
Lexington Street
Lewiston,
ME 04240
207-784-5423,
Fax 784-9178
Automotive
The
41-unit chain operates locations in ME, MA and NH. The
automotive parts stores occupy spaces of 10,500 sq.ft. to 21,000 sq.ft. in freestanding
facilities. Preferred anchors include Kmart,
Wal*Mart and supermarkets. Plans call for as
many as 12 openings in the coming 18 months. Expansion
will take place in the existing markets. Preferred
demographics include a population of 50,000 within 10 miles earning $32,000 as the average
income. Leases running 15 years are typical
and the company cites Pep Boys and Parts America as competition.
Uncle
Neal's Country Convenience Stores
dba
Uncle Neal's Country Convenience Stores, Smokin Discount Outlet
Neal
Hoff
305
North Hastings Avenue #201
Hastings,
NE 68901-5147
402-462-2700,
Fax 462-2963
Convenience
Store
The
five-unit chain operates locations in NE. The
convenience stores, which also sell gasoline, occupy spaces of 900 sq.ft. to 3,000 sq.ft.
in freestanding facilities. Plans call for
two openings in the coming 18 months. Expansion
will take place in the existing market. Preferred
demographics include a population of 2,000 within one mile earning $27,000 as the average
income. Leases running five years are
typical.
Young
Oil, Inc.
dba
Grub Mart
Brian
Young
PO
Box 328
Piedmont,
AL 36272
205-447-9087,
Fax 447-9089
Convenience
Store
The
57-unit chain operates locations in AL. The
convenience stores occupy spaces of 2,500 sq.ft. in freestanding facilities. Plans call for the opening of four units in the
coming 18 months. Expansion will take place
in AL and northern GA.
Ames
Department Stores, Inc.
dba
Ames
John
J. Hlis
2418
Main Street
Rocky
Hill, CT 06067-2598
860-257-2000,
Fax 257-2168
Department
Store
The
298-unit chain operates locations in 14 northeastern states. The department stores occupy spaces of 61,000
sq.ft. in freestanding facilities and strip centers.
Plans call for as many as 10 openings in the coming 18 months. Expansion will take place in the existing markets.
Lot$off
Corporation
dba
Lot$off
Betty
Briseno
1201
Austin Highway #116
San
Antonio, TX 78209
210-805-9300,
Fax 804-4952
Discount
Store
The
44-unit chain operates locations in LA, NM, OK, TN and TX.
The discount stores occupy spaces of 15,000 sq.ft. to 18,000 sq.ft. in regional
malls and strip centers. Plans call for as
many as 10 openings in the coming 18 months. Expansion
will take place in TX. Leases running five
years are typical.
The
Bartell Drug Co.
dba
Bartell Drugs
Dave
Graef
4727
Denver Avenue South
Seattle,
WA 98134-2316
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. 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.
Longs
Drug Stores of California, Inc.
dba
Longs Drugs
Director
of Real Estate
141
North Civic Drive
Walnut
Creek, CA 94596-3815
510-937-1170,
Fax 210-6222
Drug
Store
The
350-unit chain operates locations in CA, CO, NV and HI.
The drug stores occupy spaces of 12,000 sq.ft. to 25,000 sq.ft. in downtown store
fronts, regional malls and strip centers. Preferred
anchors include supermarkets. Plans call for
18 openings in the coming 18 months. Expansion
will take place in the existing markets. Leases
running 25 years are typical.
Superb
Sound, Inc.
dba
Ovation Audio/Video Specialists
Gary
McCormick
2750
Tobey Drive
Indianapolis,
IN 46219
317-890-2400,
Fax 890-2490
Electronics
The
eight-unit chain operates locations in KY and IN. The
electronics stores occupy spaces of 6,000 sq.ft. to 10,000 sq.ft. in freestanding
facilities. Plans call for two openings in
the coming 18 months. Expansion will take
place in the existing markets. Preferred
demographics include a population of 250,000 within 10 miles earning $45,000 as the
average income. Leases running five years are
typical and the company cites Best Buy and Circuit City as competition.
Mattress
Discounters Corp.
dba
Mattress Discounters
Larry
Alpert
9822
Fallard Court
Upper
Marlboro, MD 20772-6717
301-856-6755,
Fax 599-8157
Home
Furnishings
The
229-unit chain operates locations in CA, CO, FL, MI, PA, MA, NH, NJ, VA, MD and
Washington, D.C. The stores, selling bedding,
occupy spaces of 3,000 sq.ft. to 4,000 sq.ft. in freestanding facilities, power centers
and regional malls. Plans call for as many as
75 openings in the coming 18 months. Expansion
will take place in the existing markets. Preferred
demographics include a population of 150,000 within five miles earning $40,000 as the
average income. Leases running five years are
typical.
Papa
Jon's
John
Quinn
5000
East 2nd Street
Long
Beach, CA 90803
562-439-3444,
Fax 439-3554
Health
The
company operates one unit in CA. The store,
selling health foods, occupies a 6,000 sq.ft. space in a freestanding facility. Plans call for one opening in the coming 18
months. Expansion will take place in the
existing market.
Chain
Reaction, Inc.
dba
Chain Reaction
Lawrence
Weinberg
3111
North University Drive #604
Coral
Springs, FL 33065
954-796-2060,
Fax 796-2066
Jewelry
The
14-unit chain operates locations in AZ, CA, FL, PA, TX and VA. The jewelry stores occupy spaces of 1,250 sq.ft.
to 1,500 sq.ft. in outlet centers. Plans call
for the opening of four units in the coming 18 months.
Expansion will take place in the existing markets.
Hannoush
Jewelers
Norman
Hannoush
134
Capital Drive
West
Springfield, MA 01089
413-846-4640,
Fax 788-7588
Jewelry
The
42-unit chain operates locations in CT, MA, NH, ME and NY.
The jewelry stores occupy spaces of 1,000 sq.ft. in regional malls and strip
centers. Plans call for six openings in the
coming 18 months. Expansion will take place
in the Northeastern region.
Moto
Photo, Inc.
dba
One Hour Moto Photo and Portrait Studios
Alan
Cohen
4444
Lake Center Drive
Dayton,
OH 45426-3868
937-854-6686,
Fax 854-0140
Photographic
The
445-unit chain operates locations in AZ, CA, CO, CT, FL, GA, IL, IA, KS, KY, MA, MD, ME,
MI, MN, NC, NJ, NY, OH, OK, PA, RI, TN, TX, UT, VT, WI and Washington, D.C. The stores, offering one hour photo processing and
portrait studios, occupy spaces of 1,200 sq.ft. to 1,400 sq.ft. in downtown store fronts,
freestanding facilities and strip centers. Preferred
anchors include drug stores and supermarkets. Plans
call for 50 openings in the coming 18 months. Expansion
will take place in the existing markets. Preferred
demographics include a population of 60,000 within three miles earning $50,000 as the
average household income. Leases running five
years, with a five-year option, are typical and the company is franchising.
Alpha
Graphics
Tom
Camplese
3760
Commerce Drive, Suite 100
Tucson,
AZ 85705
520-293-9200,
Fax 887-2850
Service
The
340-unit chain operates locations nationwide. The
stores, offering copying, printing and desktop publishing services, occupy spaces of 2,500
sq.ft. in regional malls, outlet and strip centers. Growth
opportunities are sought nationwide.
Bally
of Switzerland
Brad
Wolfer
1
Bally Place
New
Rochelle, NY 10801
914-883-4415,
Fax 632-2047
Shoes
The
46-unit chain operates locations in CA, FL, GA, HI, MA, NJ, NY, NV, VA and WA. The shoe stores occupy spaces of 1,200 sq.ft. in
downtown store fronts and outlet centers. Plans
call for as many as four openings in the coming 18 months.
Expansion will take place within the existing markets.
Genesco,
Inc.
dba
Journeys
Frank
Fox/Harvey Olsher
Genesco
Park
Nashville,
TN 37202
615-367-8329/8330;
Fax 367-7323
Shoes
The
182-unit chain operates locations nationwide, exclusive of the Northeastern region. The men's and women's shoe stores occupy spaces of
1,200 sq.ft. to 1,500 sq.ft. in regional malls. Preferred
co-tenants include Pacific Sunwear, Gadzooks and Hot Topic.
Plans call for as many as 100 openings in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of
100,000 within five miles earning $40,000 as the average income. Leases running 10 years are typical.
Shoe
Carnival
Paul
Kinney
8233
Baumgart Road
Evansville,
IN 47711
812-867-4105,
Fax 867-8310
Shoes
The
95-unit chain operates locations in AL, GA, IA, IL, IN, KS, KY, MI, VA, MO, NC, OH, SC,
TN, WV, AR and FL. The family shoe stores
occupy spaces of 12,000 sq.ft. in power and strip centers.
Plans call for as many as 25 openings in the coming 18 months. Expansion will take place in the existing markets.
Leslie's
Poolmart
Kathy
Hall
20222
Plummer Street
Chatsworth,
CA 91311-2108
818-993-4212,
Fax 993-1930
Specialty
The
318-unit chain operates locations nationwide. The
stores, selling swimming pool supplies, occupy spaces of 3,500 sq.ft. to 4,200 sq.ft. in
strip centers. Preferred anchors include
Kmart, Wal*Mart, drug stores and supermarkets. Plans
call for as many as 50 openings in the coming 18 months.
Expansion will take place nationwide. Leases
running five years are typical.
Omega
Sports, Inc.
dba
Omega Sports
Phil
Bowman
4118
Spring Garden Street
Greensboro,
NC 27407
910-854-0766,
Fax 299-1043
Sporting
Goods
The
10-unit chain operates locations in NC. The
sporting good stores occupy spaces of 5,000 sq.ft. to 8,000 sq.ft. in power and strip
centers. Preferred anchors include Target,
Wal*Mart, Old Navy, Zany Brainy and supermarkets. Plans
call for three openings in the coming 18 months. Expansion
will take place in NC, SC and VA. Leases
running five years, with options, are typical.
Consumers
Cooperative Association
dba
Megafoods, Megamarts
Rick
Lambrecht
1201
South Hastings Way
Eau
Claire, WI 54701-4459
715-836-8700,
Fax 836-8712
Supermarket
The
11-unit chain operates locations in WI. The
supermarkets occupy spaces of 50,000 sq.ft. to 70,000 sq.ft. in freestanding facilities. Plans call for three openings in the coming 18
months. Expansion will take place in northern
WI. Leases running 15 years are typical.
Smith's
Food & Drug Centers, Inc.
dba
Smith's Food & Drug Center
Wade
Williams
1550
South Redwood Road
Salt
Lake City, UT 84104-5105
801-974-1400,
Fax 974-1662
Supermarket
The
152-unit chain operates locations in AZ, ID, NV, NM, TX, UT and WY. The supermarkets occupy spaces of 60,000 sq.ft. in
freestanding facilities. Plans call for 18
openings in the coming 18 months. Expansion
will take place in the existing markets. Leases
running 20 years are typical and the company cites Albertson's as competition.
Space
Place
Alabama
Birmingham- Roebuck Marketplace is anchored by Winn-Dixie
Marketplace, Goody's, McRae's and Harco. The
234,000 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 has a former Winn Dixie store
and a former Big B Drug store 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 Crestview Drug.
The 30,000 sq.ft. project has space available for lease. Demographics include a trade area population of
67,000 earning $36,000 as the average household income.
For details, contact JP Properties, Inc. at
(770-352-0056).
California
Larkspur- Larkspur Landing Shopping Center is anchored by
Lucky Supermarket, 24 Hour Nautilus and GNC. The
173,000 sq.ft. project has spaces from 610 sq.ft. to 9,500 sq.ft. available for lease. Demographics include a trade area population of
270,000 earning $75,000 as the average household income.
In San Ramon- Diablo Plaza Shopping
Center is anchored by Safeway, Longs Drugs and New York Fabrics. The 178,000 sq.ft. project has spaces from 1,300
sq.ft. to 1,680 sq.ft. available for lease. Demographics
include a five-mile population of 90,000 earning $87,000 as the average household income.
For details, contact Matt Krupp of Hollis &
Associates, Inc. at (415-461-4365).
Florida
Coral
Springs- Royal Eagle Plaza is anchored by
Kmart. The 192,817 sq.ft. project has a 6,893
sq.ft. in-line space and a 3,000 sq.ft. outparcel available for lease. Demographics include a three-mile population of
84,266 earning $66,872 as the average income. The
site is located near Coral Square Mall. In
Miami- Trail Plaza is anchored by Winn-Dixie
and Walgreens. The 180,000 sq.ft. project has
spaces from 1,024 sq.ft. to 22,000 sq.ft. available for lease. Demographics include a three-mile population of
175,904 earning $45,331 as the average income.
For details, contact A.T. Toroyan or A. Kwiat of
Rotella Group at (954-765-0778), Fax (523-7745).
Louisiana
Gretna- Towne Square Shopping Center has spaces from 1,200
sq.ft. to 25,600 sq.ft. available for lease. Demographics
include a three-mile population of 125,557 earning $39,216 as the average household
income.
For details, contact John Joseph of Rosen
Associates Management Corp. at (516-822-5350), Fax (433-3821).
Maryland
Bel
Air- Campus Hills Shopping Center is anchored
by Food Lion and Ames. The 166,000 sq.ft.
project has spaces of 900 sq.ft. and 1,400 sq.ft. available for lease. Demographics include a three-mile population of
34,167 earning $58,494 as the average household income.
The project is expected to undergo a renovation this year.
For details, contact Joshua Weinkranz of Rosen
Associates Management Corp. at (516-822-5350), Fax (433-3821).
Nebraska
Omaha- Brookside Plaza is anchored by No Frills
Supermarket. The 91,000 sq.ft. project has
spaces of 1,250 sq.ft. and 2,500 sq.ft. available for lease. Demographics include a three-mile population of
71,411 earning $57,908 as the average household income.
For details, contact Joshua Weinkranz of Rosen
Associates Management Corp. at (516-822-5350), Fax (433-3821).
New
Jersey
Irvington- Lyons Plaza is anchored by Pathmark Supermarket. The 78,000 sq.ft. project has spaces of 1,500
sq.ft., 2,900 sq.ft. and 3,500 sq.ft. available for lea |