The Dealmakers Issue Number 6 for the week of February 20, 1998.

 

Automotive Retailers Seeking Sites Nationwide

 

Strauss Auto Parts operates 111 locations in CT, DE, MA, NJ, NY and PA.  The automotive parts and service centers occupy spaces of 8,000 sq.ft. for its non-service stores and 14,000 sq.ft. for its service centers in freestanding facilities and strip centers.  Growth opportunities are sought in northern NJ and all five boroughs of New York City, NY.

  For more information, contact Jamie Lara, Strauss Auto Parts, 9-A Brick Plant Road, South River, NJ 08882; 732-390-9000, Fax 390-9079.

 

Consumer Auto Parts, Inc. trades as Consumer Auto Parts at 14 locations in CT, MA, NH and RI.  The stores, selling automotive parts at discount price-points, occupy spaces of 4,500 sq.ft. to 5,500 sq.ft. in freestanding facilities and strip centers.  Plans call for three openings in the coming 18 months.  Expansion will take place in MA, southern NH, RI or southern VT.

  For more information, contact Merrill Cohan, Consumer Auto Parts, Inc., 222 Summer Street, Worcester, MA 01604; 508-798-1827, Fax 799-5734.

 

Champion Auto Stores, Inc. trades as Champion Auto Stores at 185 locations in CO, ID, IA, MI, MN, MT, NE, ND, SD, WI and WY.  The automotive parts and accessories stores occupy spaces of 5,000 sq.ft. to 6,000 sq.ft. in freestanding facilities and strip centers.  Growth opportunities are sought in CO, IA, MN, MT, NE, ND, SD, WI and WY.

  For more information, contact Mark Wold, Champion Auto Stores, Inc., 9353 Jefferson Highway, Maple Grove, MN 55369; 612-391-6655.

 

Car Toys, Inc. trades as Car Toys at 18 locations in OR and WA.  The stores, selling automotive electronics such as alarms, stereos and cell phones, occupy spaces of 5,500 sq.ft. in freestanding facilities.  Growth opportunities are sought in the existing markets.

  For more information, contact Jeff Piccolo, Car Toys, Inc., 307 Broad Street, Seattle, WA 98121; 253-735-8765.

 

Automotive 1 Parts Store, Inc. trades as Automotive 1 Parts Store at 17 locations in FL.  The automotive parts and accessories stores occupy spaces of 6,000 sq.ft. in a variety of real estate settings.  Growth opportunities are sought in the Southeastern region.  The company is seeking to grow through acquisitions as well.

  For more information, contact Bobby Gentry, III, Automotive 1 Parts Stores, Inc., 701 Church Street, Orlando, FL 32805; 407-422-1110, Fax 422-1041.

 

Western Tire Centers does business as Ultra Performance at 18 locations in AZ and NM.  The automotive stores occupy spaces of 6,000 sq.ft. to 12,000 sq.ft. in freestanding facilities.  Plans call for one opening in the coming 18 months.  Expansion will take place in NV.

  For more information, contact Jack Furrier, Western Tire Centers, 3545 South Richey Boulevard, Tuscon, AZ 85713; 602-748-1700, Fax 790-1136.

 

 

Financial News

 

Venture Stores, Inc. (314-281-5500) recently filed for Chapter 11 protection in order to give the company time to continue its strategic repositioning and evaluate its other options.  The company said that it needs "time out afforded by a Chapter 11 reorganization to cut expenses, rebuild sales and customer confidence and get our merchandise mix balanced to achieve profitability."  The company also obtained $190 million debtor-in-possession financing to provide the company with adequate capital to continue operations during its reorganization.  Since March 1996, the company has been implementing a major program to reposition the company from a general merchandise discount format to a family value concept.  All of its 93 Midwestern stores are expected to remain open during the reorganization.

 

Factory Card Outlet Corp. (630-238-0010) reported that its second quarter net income more than tripled to $2.2 million from $478,000 during the second quarter last year.  Sales for the quarter increased 60% to $60.3 million form $37.7 million with comparable store sales up 12.6%.  During the quarter, the company opened 18 stores and ended the quarter with 180 units in 22 states.

 

Payless Cashways, Inc. (816-234-6630) reported that net sales for its 1997 fiscal year fell 11.9% to $2.3 billion from $2.6 billion during FY96.  The total sales decrease reflects the closing of 29 stores.  Comparable store sales declined 6.6% for the year.  For FY97 the company reported a net loss of $288.6 million compared to a net loss of $19.1 million the year before.  The company, which recently went through a Chapter 11 reorganization, operates 164 home improvement stores in 20 states.

 

Winn-Dixie Stores, Inc. (904-783-5000) reported that its second quarter sales increased 2.3% to $4.2 billion with comparable store sales down 1.4% for the quarter.  During the quarter, the company opened 46 stores, closed 35 stores and enlarged or remodeled 64 stores.  At the end of the quarter, the company operated 1,185 supermarkets with 61 new stores under construction.

 

The Good Guys! (415-615-5000) reported that net earnings for its first fiscal quarter increased 20% to $2.4 million from $2 million during the first quarter last year.  Sales for the first quarter increased one percent to $290.3 million from $286.6 million and comparable store sales were up one percent for the quarter.  The company operates 76 consumer electronics stores in CA, NV, OR and WA.

 

Musicland Stores Corporation (612-932-7700) reported that its fiscal 1997 sales fell 2.9% to $1.7 billion from $1.8 billion with earnings up to $14 million from a $212 million loss during FY96.  Comparable store sales for the year were up 4.5% overall.  During 1997, the company closed 106 underperforming stores and ended the year with 1,363 stores trading as Media Play, On Cue, Suncoast and Sam Goody/Musicland.

 

Hollywood Entertainment Corp. (503-570-1600) recently announced that its self-tender offer to purchase between 8,045,454 and 16,818,181 shares of its common stock at $11 per share failed because the minimum number of shares was not tendered.

 

Camelot Music, Inc. (330-494-2282) recently emerged from Chapter 11 protection.  The company's plan of reorganization, which was supported by all of its major creditors, calls for substantially all of the company's indebtedness to be converted into equity in the reorganized company.  The company currently operates 305 music stores in 34 states and is planning to acquire The Wall, a chain of 153 stores based in PA.

 

OfficeMax, Inc. (216-921-6900) reported that its fiscal year sales increased 18.4% to $3.765 billion from $3.179 billion the previous year.  Comparable store sales increased 4.1% for the year.  The company also reported that it achieved its fiscal year new store opening goal of 150 new stores in the U.S.  The company also opened 55 CopyMax stores and 48 FurnitureMax stores.  During 1998, the company is planning to open 120 superstores nationwide and test a smaller, under 10,000 sq.ft. store concept called OfficeMax PDQ.  This concept combines its CopyMax format with the company's basic selection of commodity office supplies.  Internationally, the company plans to open 10 stores in Mexico, 10 stores in Japan and stores in Brazil.  At the end of the year the company operated 713 stores in 48 states.

 

CompUSA, Inc. (972-982-4000) reported that its second quarter net sales increased 22% to $1.46 billion from $1.19 billion during the second quarter last year.  Net income increased 44% to $34.1 million from $23.7 million last year and comparable store sales increased 8.8% for the quarter.  The company operates 148 stores in 67 metropolitan markets nationwide.

 

Family Steak Houses of Florida, Inc. (904-249-4197), in an effort to boost its stock price, plans a reverse stock split.  If approved by its shareholders next month, the company will conduct a one for five stock split where shareholders will get one share of stock for every five they currently own.  The company currently has 11.1 million shares outstanding and after the split would have 2.2 million shares outstanding.  The stock split is being prompted because the company's stock price has fallen below $1 per share and is in danger of being delisted by Nasdaq.

 

Quality Dining, Inc. (219-271-4600) reported that its fiscal year total revenues were up to $302.3 million from $237.6 million during fiscal 1996.  The company also reported  a net loss of $196.5 million compared to net income of $2.7 million during its prior fiscal year.  The loss was primarily attributed to the charges related to the company's divestiture of its bagel-related businesses and the losses and general and administrative expenses incurred by the company's bagel-related operations.  The company currently owns and operates 40 Grady's American Grill restaurants, five Spageddies Italian Kitchen restaurants and three Papa Vino's Italian Kitchen restaurants, and operates as a franchisee 67 Burger King units and 28 Chili's Bar & Grill restaurants.

 

The Wet Seal, Inc. (714-583-9029) recently debuted its Wet Seal Catalog.  The company operates 390 stores in 38 states trading as Wet Seal, Contempo Casuals and Limbo Lounge.

 

Mothers Work, Inc. (215-873-2200) reported that its first quarter net sales increased 26.4% to $77.3 million from $61.2 million during the first quarter last year.  The increase was primarily attributed to a comparable sales increase of 11.6% in its core maternity business and a 51.2% comparable sales increase in its Episode stores.  Net income for the quarter was $904,000, up from $468,000 during the first quarter last year.  The company operates 621 stores nationwide.

 

 

New Construction

 

Sturbridge Development Company plans to break ground this year on The Village at Waugh Chapel, a mixed-use suburban community village, in western Anne Arundel County, MD.  The Village will include 770,000 sq.ft. of retail, medical offices, restaurants, sports facilities, entertainment, eduction, recreation and a full service community activity center.  Another key component of the project is a 398 unit senior living section, providing a full continuum of health care.  The $50 million project includes approximately $5.6 million worth of amenities, such as a children's park, a pond with an ice skating rink, walking trails and more than $1.6 million of off-site road improvements.  The retail portion of the project is expected to be anchored by a 55,000 sq.ft. Safeway, several large general merchandise stores and/or junior department stores with a mix of small stores.  Five to seven pad sites will also be available for restaurants and banks.  The primary trade area is composed of the nearby communities within a five to ten minute drive of the site.  Demographics include a primary trade area population of 81,920 earning $68,500 as the average income.  The Village is expected to open during 1999.

  For more information, contact John Pantelides at (410-224-4474), Fax (224-4488).

 

Pine Tree Commercial Realty plans to break ground next month on a 300,000 sq.ft. shopping center in Janesville, WI.  The project will be anchored by a 110,000 sq.ft. Home Depot store, a seven or eight screen Wildwood Theaters, TJ Maxx, Old Navy, Michael's Arts & Crafts, Staples and Gander Mountain.  Other tenants include Shoe Carnival, Hallmark Cards, Radio Shack, Old Country Buffet and Steak n Shake.  Another 20,000 sq.ft. of retail space will be available for small shop tenants.  The center is expected to open during November.

  For more information, contact Pine Tree Commercial Realty at (847-735-0600).

 

Fogelson Cos. recently completed construction on Nelson Plaza in New Lenox, IL.  The 32,600 sq.ft. project is anchored by DeRie Tires and Video Update.  Other tenants include Domino's Pizza, Premier Bedding, HairCuttery, All Cleaners and Newsome Rehabilitation.  The site is located near Jewel/Osco, Eagle grocery store and Speedway gas station.  A multi-screen cinema is planned for a nearby site as well.  Spaces from 1,200 sq.ft. to 1,500 sq.ft. remain available for lease at Nelson Plaza.

  For more information, contact Jerry Fogelson at (312-920-7400).

 

The Mills Corporation plans to expand its Sawgrass Mills project in Sunrise, FL by 300,000 sq.ft.  Anchoring the open-air "Entertainment Phase" will be GameWorks, American Wilderness Experience, Wolfgang Puck, Ron Jon Surf Shop, Cafe TuTu Tango, Ruby's Diner, Samsonite Travel Expo and Foot Locker Outlet.  The existing 18-screen Regal Cinemas will be expanded to 24 screens.  The new phase is expected to open late this year and will join the more than 270 stores and restaurants that 25 million people visit each year.

  For more information, contact The Mills Corp. at (703-526-5000).

 

FAC Realty Trust, Inc. plans to break ground during April on Mt. Pleasant Towne Centre in Mt. Pleasant, SC.  The 425,000 sq.ft. retail and entertainment complex will be anchored by a 60,260 sq.ft. Belk Department Store that will incorporate the Towne Centre theme with a clock tower above the main entrance.  Large pillars in the front of the building and light-colored brick and masonry facing will create the appearance of a traditional town hall.  The project will also feature upscale, national fashion and specialty tenants, restaurants and a movie theater.  The center's "Main Street" buildings and pedestrian mall area have been designed to replicate and complement the distinctive architectural styles found throughout the Carolinas' Low Country region.  The center is expected to open during May 1999.

  For more information, contact FAC Realty Trust at (919-462-8787).

 

 

Lease Signings

 

Ripco Real Estate Corp. (610-834-8000) leased 2,000 sq.ft. to Starbucks Coffee in Paoli, PA; 1,600 sq.ft. to Starbucks Coffee at The York Marketplace in York, PA; 1,200 sq.ft. to Starbucks Coffee at The Mercer Mall in Lawrenceville, NJ; 2,000 sq.ft. to Starbucks Coffee in Newtown, PA; 3,600 sq.ft. to Blinds To Go at Mill Creek Shopping Center in Wilmington, DE; 3,000 sq.ft. to Blinds To Go in Willow Grove, PA; 5,500 sq.ft. to Blinds To Go in Whitehall, PA; 3,000 sq.ft. to Blinds To Go in Bala Cynwyd, PA; 6,000 sq.ft. to LaserStorm at The Deptford Plaza in Deptford, NJ; 5,000 sq.ft. to The Children's Place at a former KayBee Toy space in Philadelphia, PA and 75,000 sq.ft. to Frugal Fannie's at Marple Crossroads Shopping Center in Springfield, PA.

 

Schuckman Realty, Inc. (516-496-8888) leased 11 spaces to Radio Shack at Riverview Plaza in Norwalk, CT; Times Plaza in Brooklyn, NY; King Kullen Center in Syosset, NY; Waldbaum's Center in Albertson, NY; Trumbull Shopping Center in Trumbull, CT; Baychester Shopping Center in Bronx, NY; Captree Village in West Islip, NY; Cross Bay Plaza in Howard Beach, NY; Whaley Commons in New Haven, CT; 410 Westport in Norwalk, CT and 301 Route 110 in Huntington, NY.  The company also leased five spaces to Umberto's Pizza in Patchogue, Syosset, Lake Grove, Oceanside and Deer Park, NY.  The sites average 3,000 sq.ft.

 

Uniwest Realty, Inc. (703-671-2880) leased 36,051 sq.ft. to Babies R Us at Skyline Entre Plaza in Bailey's Crossroads, MD.

 

The Carfaro Company (330-747-2661) leased 2,129 sq.ft. to Gadzooks at Frenchtown Square Mall in Monroe, MI; 2,191 sq.ft. to Gadzooks at Governor's Square Mall in Clarksville, TN; 4,550 sq.ft. to Gadzooks at Eastwood Mall in Niles, OH; 2,278 sq.ft. to Gadzooks at Meadowbrook Mall in Bridgeport, WV and 3,354 sq.ft. to Kitchen Collection at Sandusky Mall in Sandusky, OH.

 

Litvin/LaRue/Greenfield Commercial Real Estate, Inc. (630-773-7500) leased 1,696 sq.ft. to Caribou Coffee Company in Oak Park, IL; 8,000 sq.ft. to Pier One in Oak Brook, IL and 5,280 sq.ft. to New China Buffet at Sportmart Shopping Center in Calumet City, IL.

 

 

Food Tenants Hungry for Sites Nationwide

 

The Western Sizzlin Corporation operates 280 locations nationwide.  The restaurants occupy spaces of 7,500 sq.ft. to 8,500 sq.ft. in freestanding facilities.  Plans call for 25 openings in the coming 18 months.  Expansion will take place nationwide.  The company is franchising.

  For more information, contact Bob Bass, The Western Sizzlin Corporation, 902 Kermit Drive, Knoxville, TN 37912; 423-219-9000, Fax 219-9013.

 

Morton's Restaurant Group trades as Morton's of Chicago Steakhouse and Bertolini's at 48 locations in AZ, CA, CO, FL, GA, IL, IN, MD, MA, MI, MN, NV, NY, NC, OH, TX, VA and Washington, D.C.  The restaurants occupy spaces of 7,500 sq.ft. in freestanding facilities and regional malls.  Plans call for as many as 10 openings in the coming 18 months.  Expansion will take place nationwide.

  For more information, contact Allan Schreiber, Morton's Restaurant Group, 3333 New Hyde Park Road, New Hyde Park, NY 11042; 516-627-1515, Fax 627-2050.

 

Figaro's Italian Pizza, Inc. trades as Figaro's Italian Kitchen at 82 locations in CA, ID, MN, NV, ND, OR and WA.  The take out only restaurants offer pizza, calzones, pastas and salads while occupying spaces of 1,300 sq.ft. to 1,500 sq.ft. in freestanding facilities.  Preferred anchors include Albertsons, IGA, Safeway, Sentry and Wal*Mart.  Growth opportunities are sought in ID, NV, OR and WA.  Preferred demographics include a population of 20,000 within five miles earning $40,000 as the average income.  Leases running five years, with two five-year options, are typical and the company cites Papa Murphy's, Round Table and Pizza Hut as competition.

  For more information, contact Max Bennett, Figaro's Italian Pizza, Inc., 1500 Liberty Street Southeast #160, Salem, OR 97302; 503-371-9318, Fax 363-5364.

 

Restaurant Management Services does business as Popeye's and Fazoli's at 124 locations in FL.  The restaurants occupy spaces of 1,500 sq.ft. to 6,000 sq.ft. in freestanding facilities and strip centers.  Plans call for the opening of four units in the coming 18 months.  Expansion will take place in the existing market.  Preferred demographics include a population of 90,000 within five miles earning $30,000 as the average income.  Leases running 20 years are typical.

  For more information, contact Bill Hickman, Restaurant Management Services, c/o Landmark Sites, Inc., 13902 North Dale Mabry Highway, Suite 199, Tampa, FL 33618; 813-960-2663, Fax 960-2885.

 

IHOP Corp. trades as IHOP Restaurants at 760 locations nationwide.  The family restaurants occupy spaces of 5,000 sq.ft. in downtown store fronts, freestanding facilities, regional malls, power and strip centers.  Preferred anchors include big-box users.  Plans call for 60 openings in the coming 18 months.  Expansion will take place in the Northeastern, Southeastern and Southwestern regions.  Preferred demographics include a population of 30,000 within three miles earning $35,000 as the average income.  Leases running 25 years, with options, are typical and the company, which is franchising, cites Shoney's, Perkins and Denny's as competition.

  For more information, contact Joe Kennedy, IHOP Restaurants, 1050 Wall Street West, Suite 670, Lyndhurst, NJ 07071-3615; 201-935-6800, Fax 964-0552.

 

Folks Restaurant, Ltd. does business as Po' Folks at 30 locations in AL, CA, FL, GA, IN, KY, TN and VA.  The restaurants occupy spaces of 3,000 sq.ft. to 6,000 sq.ft. in freestanding facilities, power and strip centers.  Preferred anchors include Kmart and Wal*Mart.  Plans call for 10 openings in the coming 18 months.  Expansion will take place in the existing markets.  Preferred demographics include a population of 50,000 within 20 miles earning $25,000 as the average income.  The company cites Bob Evans and Cracker Barrel as competition.

  For more information, contact Grant Givens, Folks Restaurant, Ltd., PO Box 1080, Panama City, FL 32402; 904-763-0501, Fax 872-0072.

 

Yoshinoya West trades as Yoshinoya Beef Bowl Restaurants at 97 locations in CA.  The quick-service Japanese restaurants occupy spaces of 1,600 sq.ft. to 2,200 sq.ft. in downtown store fronts, freestanding facilities and strip centers.  Preferred anchors include Wal*Mart and movie theaters.  Plans call for 10 openings in the coming 18 months.  Expansion will take place in New York City, NY.  Preferred demographics include a population of 35,000 within one mile earning $35,000 as the average income.  Leases running 10 to 15 years are typical and the company, which is franchising, cites Panda Express as competition.

  For more information, contact Yasunori Yoshimura or Keith Shlozaki, Yoshinoya West, 991 Knox Street, Torrance, CA 90502-1006; 310-527-6060, Fax 527-6050.

 

 

Buyers & Sellers

 

Excell Fund, L.L.C. has the listing to sell an 8,000 sq.ft. freestanding retail building in Denver, CO.  The site is leased to an A credit tenant with 10 years remaining.  The asking price is based on a 10% cap.  The company is also in the market to acquire strip shopping centers having GLAs of at least 85,000 sq.ft. nationwide.

  For more information, contact Steven Cersonsky at (303-320-0003), Fax (377-6167).

 

MSI Real Estate Services has the listing to sell Rhodes Crossing in Spring, TX.  The 44,529 sq.ft. project is 100% occupied with small tenants.  The asking price is $1.795 million.

  For more information, contact Mike Stich at (713-963-0883), Fax (960-8887).

 

Simon DeBartolo Group, Inc. recently acquired South Hills Village in Pittsburgh, PA.  The 1.1 million sq.ft. project is anchored by Kaufmann's, Lazarus and Sears.

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

 

Princeton Partners Realty Advisors has the listing to sell 15 acres of land in Queens, NY.  The site is located adjacent to a seven-acre Economic Development Corporation owned site which can be acquired separately to form a 22 acre tract.  The site is located near College Point Plaza which is anchored by BJ's Wholesale Club, Target, Circuit City, Toys 'R Us, a 12-screen multiplex and several restaurants.

  For more information, contact James Massaro at (516-482-3800).

 

Edens & Avant has the listing to sell Decker Village Shopping Center in Columbia, SC.  The 55,177 sq.ft. project is anchored by Food Lion and Eckerd Drugs.  The site can be expanded by more than 16,000 sq.ft.  The asking price is $3.56 million and the current loan may be assumed.

  For more information, contact Lloyd Kapp or Tom Milliken at (800-662-7212).

 

Vornado Realty Trust recently acquired Merchandise Mart in Chicago, IL the Apparel Center in Chicago, the Washington Design Center and the Washington Office Center, both in Washington, D.C., from the Kennedy family for $625 million in cash, stock and debt.  The combined GLA of the buildings exceed 5.3 million sq.ft.

  For more information, contact Vornado Realty Trust at (201-587-1000).

 

Metro Commercial Real Estate, Inc. represented Target in its acquisition of 15 acres of land fronting Route 100 in Exton, PA from Highland Capital Corp.  Target plans to develop a 123,000 sq.ft. store on the site which is expected to open during Fall.

  For more information, contact Steve Niggeman at (609-866-1900).

 

The Rotella Group, Inc. represented the seller in the sale of a 9,000 sq.ft. former Red Robin Restaurant in Fort Lauderdale, FL.  The sales price was $1.8 million.  The company has the listing to sell Village Square South in Cutler Ridge, FL.  The 24,580 sq.ft. project is anchored by E&B Marine.  The asking price is $2.25 million.

  For more information, contact A.T. Toroyan at (954-765-0778).

 

 

Who's Opening & Where

 

Quizno's Corp. (303-291-0999) plans to open as many as 12 stores in the Inland Empire area of Southern CA this year.  The company's overall goal is to open 200 stores in San Bernardino, Riverside, San Diego and Los Angeles counties in the coming seven years.  The company also announces that it has sold the master franchise agreement to Quizno's Canada Corporation to develop Quizno's Subs restaurants throughout Canada.  The company is planning to open as many as 650 units across Canada in the coming five to ten years.

 

Manhattan Bagel Company (908-544-0155) recently opened a 1,538 sq.ft. store at North Hills Shopping Center in Rochester Hills, MI through its franchisee Prism Restaurants II.  Prism Restaurants II plans to open 10 units in the Oakland County, MI area in the coming three years.

 

American Furniture Warehouse (303-289-3311) plans to open a 97,000 sq.ft. store in Pueblo, CO during Spring.  It will be the company's eighth store.

 

Clean Rite Centers (718-445-3400) plans to open a 9,150 sq.ft. laundromat in the Bronx, NY during Spring.  The company plans to open 24 stores during 1998, including five in the Bronx.

 

Ames Department Stores, Inc. (860-257-2659) plans to open a 43,000 sq.ft. store in North Cape May, NJ during Spring.

 

Wal*Mart Stores (501-273-4000) plans to open a 125,000 sq.ft. store in downtown Federal Way, WA during November.

 

Wild Oats Markets, Inc. (303-689-9258) plans to open a 20,300 sq.ft. natural food supermarket at Lane Avenue Shopping Center in Upper Arlington, OH during June.

 

CompUSA, Inc. (972-982-4000) plans to open a 25,000 sq.ft. store in Bakersfield, CA during Spring; a 31,800 sq.ft. store at University Park at M.I.T. in Cambridge, MA during Spring; and a 26,300 sq.ft. store at Baldwin Commons Shopping Center in Orion Township, MI during Fall.

 

Circuit City Stores, Inc. (804-527-4000) plans to open a CarMax used car dealership just north of Lafayette Square Mall in Indianapolis, IN.

 

Rainforest Cafe (612-945-5400) is scouting the downtown Indianapolis, IN market for a location to open one of its themed restaurants.

 

Publix (941-688-1188) plans to open a 27,880 sq.ft. supermarket at Gateway Shopping Center in Jacksonville, FL during the Fall.

 

RadioShack (817-390-3011) awarded 200 new RadioShack Select dealerships during 1997.  The program is a package designed to encourage general merchandise and specialty retailers in smaller communities to offer more than 1,700 of RadioShack's best selling products.  These communities have a population between 1,500 and 15,000 and are not located near a company-owned RadioShack store or another authorized dealer.  A Select dealership requires less than 400 sq.ft. of display space.  The company's overall goal is to have 1,000 new dealerships within five years.

 

Timber Lodge Steakhouse, Inc. (612-929-9353) recently opened a restaurant in Arlington Heights, IL.  It is the company's 17th unit.  The company has also recently begun construction on a restaurant in Rochester, MN.  That unit is expected to open during June.

 

Lucille Roberts (212-734-0500) recently opened women's fitness centers in West Hempstead, Brooklyn, Flushing and Bronx, NY; Bloomfield, Fair Lawn, Holmdel, Jersey City, North Brunswick, Union, Woodbridge, Lawrenceville, Cherry Hill and Woodbury, NJ; and Northeast Philadelphia, Jenkintown and Bala Cynwyd, PA.  The company is planning to open units in West Long Branch and East Brunswick, NJ; Ridgewood, Queens, Bronx and Shirley, NY; and Cheltenham, Upper Darby and South Philadelphia, PA during 1998.  The company is seeking spaces running 7,000 sq.ft. to 9,000 sq.ft. in the NY, NJ and Philadelphia, PA markets.

 

Nordstrom (206-628-1725) plans to open a 40,000 sq.ft. Nordstrom Rack store at Howard Hughes Entertainment Center in West Los Angeles, CA during Spring 1999.

 

Holliday's (901-522-1983) plans to open a 6,500 sq.ft. women's apparel store at The Market at Wolfcreek in Memphis, TN this month.  The company is also planning to open stores in Nashville, TN; AL and LA in the coming year.

 

O'Charley's (615-256-8500) plans to open a 6,650 sq.ft. casual restaurant across from Rock Hill Galleria in Rock Hill, SC during the Summer.

 

Target (612-304-6099) plans to open as many as 70 stores this year, including a one-day debut for 24 stores in 14 states on July 26.  New markets being entered this year include Pittsburgh, PA and North Attleboro, MA.

 

Lowe's Companies, Inc. (910-651-4223) recently opened home improvement stores in Carrollton, Hurst and Lewisville, TX and is planning to open stores in South Fort Worth, Garland and Rockwall, TX during mid-1998.  In addition, the company plans to open a 150,000 sq.ft. store in Columbus, GA late this year.

 

Costco (425-313-6360) plans to open as many as 19 stores worldwide this year and as many as 30 stores next year.  The company currently operates 269 stores worldwide: 205 in the U.S.; 56 in Canada and the remainder in the United Kingdom, Taiwan, Mexico and Korea.  New stores for 1998 are planned in Detroit, MI; Altanta, GA; Los Angeles and Santa Barbara, CA; Mexico and Scotland.

 

Norwalk, The Furniture Idea (419-668-4461) plans to open a 5,000 sq.ft. furniture store in Wichita, KS, near Bradley Fair, this month.

 

Schlotzsky's, Inc. (512-236-3600) opened 120 restaurants worldwide during 1997 to bring its total to 673 units.  The company is planning to open 108 units this year.

 

Kohl's Corp. (414-703-7000) plans to open an 80,000 sq.ft. store at Pine Ridge Plaza in Lawrence, KS during Fall.

 

Apple South, Inc. (706-342-4552) plans to open as many as 40 Don Pablo's Mexican Kitchen restaurants this year and as many as 55 units during 1999.

 

Hooters (770-951-2040) plans to open a restaurant in Midvale, UT.  If that unit proves successful, the franchisee plans to open additional restaurants in Salt Lake City and Ogden.

 

 

Lead Sheet

 

Clothestime Stores, Inc.

dba Clothestime

Bob Mathews

5325 East Hunter Avenue

Anaheim, CA 92807

714-779-5881, Fax 779-0512

 

Apparel

The 264-unit chain operates locations nationwide.  The women's apparel stores occupy spaces of 4,000 sq.ft. in power centers.  Plans call for as many as 15 openings in the coming 18 months.  Expansion will take place nationwide.  Leases running 10 years are typical.

 

Gucci

Steven Greenberg

c/o Greenberg Group

1200 West Broadway

Hewlett, NY 11557

516-295-0406, Fax 374-0999

 

Apparel

The 24-unit chain operates locations nationwide.  The upscale apparel stores occupy spaces of 3,000 sq.ft. in downtown store fronts and regional malls.  Preferred co-tenants include Ferragamo, Hermes and Louis Vuitton.  Plans call for three openings in the coming 18 months.  Expansion will take place nationwide.  Leases running 10 years are typical and the company only considers high-end locations.

 

Witlin & Albert, Inc.

dba Tuxedo Club

Mr. Albert

426 Old Yorke Road

Jenkintown, PA 19046

215-885-8000, Fax 885-7100

 

Apparel

The company operates one store in PA.  The men's clothing and formalwear store occupies a 3,000 sq.ft. space in a regional mall.  Preferred anchors include Lord & Taylor.  Plans call for one opening in the coming 18 months.  Expansion will take place in the existing market.

 

Christy's Markets, Inc.

dba Christy's

Peter Andrew

22 Christy's Drive

Brockton, MA 02401

508-586-0474, Fax 588-4787

 

Convenience Store

The 150-unit chain operates locations in CT, ME, MA, NH, RI and VT.  The convenience stores, which also sell gasoline, occupy spaces of 1,800 sq.ft. to 3,000 sq.ft. in freestanding facilities.  Plans call for as many as six openings in the coming 18 months.  Expansion will take place in the existing markets.  Leases running five to ten years, with options, are typical.

 

Ohio Valley AFM, Inc.

dba Ameristop Food Marts

David Schweitzer

3955 Alexandria Pike

Cold Spring, KY 41076

606-781-3800, Fax 781-6821

 

Convenience Store

The 121-unit chain operates locations in KY, IN, OH and VA.  The convenience stores occupy spaces of 3,250 sq.ft. in freestanding facilities and strip centers.  Plans call for five openings in the coming 18 months.  Expansion will take place in the existing markets.  Leases running 15 years are typical and the company is franchising.

 

American Store Properties, Inc.

dba Osco Drug

Robert Stack

1955 West North Avenue

Melrose Park, IL 60160

708-786-3087, Fax 786-3118

 

Drug Store

The 1,100-unit chain operates locations throughout the Midwestern and New England regions.  The drug stores occupy spaces of 13,400 sq.ft. in freestanding facilities.  Plans call for 100 openings in the coming 18 months.  Expansion will take place nationwide.

 

Jack Godfrey & Sons, Inc.

dba Comet 1 Hour Cleaners

Jack Godfrey, Jr.

406 West Division

Arlington, TX 76011

817-461-3555, Fax 861-4779

 

Dry Cleaners

The 340-unit chain operates locations in AR, AZ, CA, CO, FL, GA, ID, KS, KY, MO, NM, OH, OK, TN, TX and UT.  The dry cleaners, which also offer laundry services, occupy spaces of 2,000 sq.ft. in freestanding facilities and end caps of strip centers.  Plans call for 25 openings in the coming 18 months.  Expansion will take place nationwide.  The company is franchising.

 

Conn Appliance

Tom Frank

PO Box 2358

Beaumont, TX 77704

409-832-1696, Fax 835-7069

 

Electronics

The 24-unit chain operates locations in LA and TX.  The consumer electronics stores occupy spaces of 14,000 sq.ft. in freestanding facilities and strip centers.  Growth opportunities are sought in the existing markets.

 

Sony Retail Group

dba Magic Johnson Theatres

Kenneth Lombard

9100 Wilshire

Beverly Hills, CA 90212

310-247-1994, Fax 247-0733

 

Entertainment

The three-unit chain operates locations in CA, GA and TX.  The movie theaters occupy spaces of 60,000 sq.ft. in regional malls, power and strip centers.  Plans call for five openings in the coming 18 months.  Expansion will take place in FL, IL, LA, MD, MI, NY, NC, OH, PA or Washington, D.C.  Leases running 10 years are typical.

 

Trans World Entertainment

dba Coconuts, Record Town, Tape World, For Your Entertainment, Planet Music, Strawberries, Saturday Matinee

Bruce Eisenberg

38 Corporate Circle

Albany, NY 12203

518-452-1242, Fax 452-8179

 

Entertainment

The 520-unit conglomerate operates locations nationwide.  The stores, selling compact discs, cassettes, videos and related accessories, occupy spaces of 2,700 sq.ft. to 40,000 sq.ft. in outlet centers and regional malls.  Plans call for 100 openings in the coming 18 months.  Expansion will take place nationwide.

 

Bills Dollar Stores, Inc.

dba Bills Dollar Store

Bill Pate

3800 Interstate 55 North

Jackson, MS 39211

601-981-7171, Fax 899-4609

 

General Merchanidse

The 475-unit chain operates locations in AL, FL, GA, KS, KY, LA, MO, MS, NC, OK, SC, TN and TX.  The general merchandise stores occupy spaces of 6,000 sq.ft. to 8,000 sq.ft. in downtown store fronts, freestanding facilities and strip centers.  Plans call for as many as 25 openings in the coming 18 months.  Expansion will take place in the existing markets.

 

The Connoisseur

Sandy French

201 Torrance Boulevard

Redondo Beach, CA 90277

310-374-9768, Fax 372-9097

 

Gifts

The seven-unit chain operates locations in AZ, CA, CO, IL and NH.  The stores, specializing in personalized gifts, crystal and gourmet foods, occupy spaces of 1,800 sq.ft. to 2,000 sq.ft. in regional malls and upscale strip centers.  Growth opportunities are sought nationwide.

 

E.S. Schmith, Inc.

dba G. Thanks

Jim Bemer

30700 Bainbridge Road Unit J

Solon, OH 44139

440-349-2010, Fax 349-4008

 

Gifts

The 12-unit chain operates locations in MI, OH and PA.  The stores, which sell trendy gifts geared toward young females, occupy spaces of 2,400 sq.ft. to 2,800 sq.ft. in regional malls.  Plans call for two openings in the coming 18 months.  Expansion will take place within the existing markets.

 

Things Remembered, Inc.

dba Things Remembered

Bobby Drewin

5340 Avion Park Drive

Highland Heights, OH 44143

216-473-2000, Fax 216-473-2017

 

Gifts

The 850-unit chain operates locations nationwide.  The stores, selling personalized gifts, occupy spaces of 1,300 sq.ft. to 1,800 sq.ft. in regional malls.  Plans call for as many as 30 openings in the coming 18 months.  Expansion will take place nationwide.

 

Poggi Enterprises, Inc.

dba Chicago Hair Cutting Co.

Sandra Maas

101 East Ontario Street

Frankfort, IL 60423

815-469-3950

 

Hair

The 33-unit chain operates locations in IL and IN.  The hair salons, which also offer tanning services, occupy spaces of 1,200 sq.ft. to 1,600 sq.ft. in freestanding facilities and strip centers.  Plans call for five openings in the coming 18 months.  Expansion will take place in the existing markets.  Leases running five years are typical.

 

Coaster Co. of America

Matthew Chen

12928 Sandaval Street

Santa Fe Springs, CA 90670

562-944-7899, Fax 946-2850

 

Home Furnishings

The seven-unit chain operates locations in CA, NV, OR, TX and WA.  The stores, selling furniture, giftware and accessories, occupy spaces of 10,000 sq.ft. in freestanding facilities and power centers.  Growth opportunities are sought in CA, NV, OR and WA.  Leases running three to five years are typical.

 

Conlin's Furniture, Inc.

dba Conlin's Furniture

Bob Anderson

680 Carbon Street

Billings, MT 59102

406-656-7706, Fax 652-6092

 

Home Furnishings

The 18-unit chain operates locations in MT, ND, SD and WY.  The stores, selling furniture, occupy spaces of 20,000 sq.ft. in freestanding facilities and strip centers.  Plans call for as many as two openings annually.  Expansion will take place within the existing markets.

 

The Container Store, Inc.

dba The Container Store

Debbie Norman

2000 Valwood Parkway

Dallas, TX 75234

214-654-3339, Fax 654-2004

 

Home Furnishings

The 18-unit chain operates locations in CA, CO, GA, IL, MD, TX and VA.  The stores, selling storage and organization products, closet systems and shelving, occupy spaces of 24,000 sq.ft. to 25,000 sq.ft. in freestanding facilities.  Preferred co-tenants include Crate & Barrel, Pottery Barn, Saks and Williams-Sonoma.  Plans call for five openings in the coming 18 months.  Expansion will take place in CA, FL, MI, NY and Washington, D.C.  Preferred demographics include a population of 300,000 within five miles earning $50,000 as the average income.  Leases running 10 years are typical.

 

Cohen's Fashion Optical

Susan Goldberg

1500 Hempstead Turnpike

East Meadow, NY 11554

516-465-6995, Fax 390-2230

 

Optical

The 100-unit chain operates locations in CT, FL, MA, NH, NJ and NY.  The optical stores occupy spaces of 1,500 sq.ft. in downtown store fronts and regional malls.  Plans call for as many as eight openings in the coming 18 months.  Expansion will take place in the existing markets.  Leases running 10 years are typical.

 

The Walt Disney Company

dba Disney Catalog Outlet

Brenda Pair

5780 Challenge Drive

Memphis, TN 38115

901-797-2481, Fax 797-8533

 

Specialty

The six-unit chain operates locations in AL, LA, SC, TX and VA.  The stores, selling Disney apparel, gifts and home furnishings, occupy spaces of 4,500 sq.ft. in outlet centers.  Preferred co-tenants include Gap Outlet, Nike, Tommy Hilfiger and Donna Karan.  Plans call for six openings in the coming 18 months.  Expansion will take place nationwide.  Preferred demographics include a population of 500,000 within 50 miles earning at least $40,000 as the average income.

 

Wild Bird Centers of America, Inc.

Howard Margolis

7370 MacArthur Boulevard

Glen Echo, MD 20812

800-945-3247, Fax 301-320-6154

 

Specialty

The 103-unit chain operates locations throughout North America.  The stores, selling backyard birding products, occupy spaces of 1,600 sq.ft. to 2,400 sq.ft. in strip centers.  Preferred anchors include supermarkets.  Plans call for 10 openings in the coming 18 months.  Expansion will take place throughout North America.  Preferred demographics include a population of 150,000 within five miles earning $40,000 as the average income.  Leases running five years are typical and the company, which is franchising, prefers a vanilla shell.  The company cites Wild Birds Unlimited as competition.

 

Williams-Sonoma Grande Cuisine

dba Pottery Barn

Art Tropp

3250 Van Ness Avenue

San Francisco, CA 94109

415-421-7900, Fax 616-7915

 

Specialty

The 90-unit chain operates locations nationwide.  The stores, selling pottery, occupy spaces of 10,000 sq.ft. in regional malls and specialty centers.  Preferred co-tenants include Talbots, Banana Republic and Ann Taylor.  Growth opportunities are sought nationwide.  Preferred demographics include a population of 500,000 within 15 miles earning $50,000 as the average income.

 

Martin & Bayley

dba Circus Video

Ben Eddie

PO Box 385

Carmi, IL 62821

618-382-2334, Fax 382-8956

 

Video

The 25-unit chain operates locations in IL, IN, IA and MO.  The video stores, which also features a play area for children and offers pizza, occupy spaces of 4,000 sq.ft. to 6,000 sq.ft. in freestanding facilities.  Growth opportunities are sought in the existing markets.  Leases running three years, with options, are typical.

 

 

Real Estate Professionals Making The News

 

Poag & McEwen Company (901-761-2571) announces the appointment of Dana Hansen as vice president of leasing.  In his new position, Hansen will be responsible for leasing The Shops of Saddle Creek in Memphis, TN; Town Center Plaza in Kansas City, MO and the company's new developments in the Chicago, IL area.

 

Wellsford Commercial Properties Trust (973-701-2200) announces the appointment of Leo Paytas as director of leasing.

 

Litvin/LaRue/Greenfield Commercial Real Estate (630-773-7500) announces that Marlon Stone has joined the company as a leasing representative.  Stone will be responsible for marketing excess space for Rite Aid in Chicago, IL and Milwaukee, WI.

 

The Ackman-Ziff Real Estate Group (212-697-3333) announces the appointment of Simon Ziff as president and Lawrence D. Ackman as chairman of the board.

 

Moody Rambin Interests, Inc. (713-773-5551) announces the promotion of V. Edward James to senior vice president.  James' client list includes The Sports Authority, TGI Friday's, Showbiz Pizza and Whataburger.  His responsibilities also include the leasing of Town & Country Village and Willowbrook Plaza and the disposition of a former Incredible Universe site.

 

Quality Dining, Inc. (219-271-4600) announces that William W. Moreton has resigned as executive vice president, treasurer and chief financial officer.

 

Computer City (817-415-7624) announces the promotion of Ahmed Shaikh to the position of vice president, store planning.  In his new position, he will oversee the company's expansion plans including real estate selection and store development.  The company also announces the promotion of Ward Sullivan to the position of managing director, Canadian operations.  In his new position, he will be responsible for developing and managing the Canadian retail stores.

 

The May Department Stores Company (314-342-6300) announces that its board of directors recently elected Eugene S. Kahn to the position of president and chief executive officer and Jerome T. Loeb to the position of chairman of the board.  The company's current chairman and chief executive officer, David Farrell, plans to retire during May.

 

CBL & Associates Properties, Inc. (423-855-0001) announces the appointment of Keith L. Honnold to the position of director of acquisitions.  In his new position, Honnold will oversee all future shopping center acquisitions from the company's Boston, MA office.

 

Federal Realty Investment Trust (301-998-8100) announces that Howard Biel has joined the company as senior vice president & managing director of development.

 

The Taubman Company (248-258-6800) announces the appointment of Anita Saleh to the newly created position of vice president, specialty leasing.  Saleh will develop and oversee a comprehensive leasing program to include retail merchandising units, kiosks and temporary stores at each of the 25 Taubman shopping centers nationwide.

 

Edison Brothers Stores, Inc. (314-331-6000) announces that Lawrence Honig has been named the company's chairman and chief executive officer.

 

Courtelis Company (305-379-8467) announces that Bruce Pasternack has joined the company as director of site acquisitions and will be responsible for site selection and acquisition of development opportunities.  The company also announces that Ronnie Herman has joined the company as a leasing representative and will be responsible for the leasing of existing shopping centers and new developments in Orlando, Merritt Island, Gainesville, Lakeland and Fort Myers, FL.

 

Schlotzsky's, Inc. (512-236-3600) announces that Terri Seiler has joined the company as vice president of real estate services in which she will be responsible for real estate acquisitions, construction management and financial reporting for the program.  In addition, the company announces that David Byler, Rick Carson and Hank Janik have joined the company as real estate managers and will work under Seiler.

 

Inland Commercial Property Management (630-218-8000) announces that Charles Cimorelli has been promoted to director of leasing and marketing.

 

 

Closings

 

The Wherehouse (310-538-2314), a music and video store, recently closed its store at Ridgecrest Towne Center in Ridgecrest, CA.  The company cites poor sales as the reason for the store's closure.

 

Hannaford Bros. Co. (207-883-2911) plans to close seven of its non-core stores in the Southeastern region.  The company is closing the stores because it foresees limited opportunity for profitable growth.

 

JumboSports, Inc. (813-886-9688) plans to close 18 stores as part of its 1998 strategy to run a leaner company, eliminate inventory problems and pay down debt.  Following the closures, the company will shrink to 59 stores in 23 states by Summer, and withdraw from 15 large to mid-sized markets, mainly in the Midwestern region where the company had one or two stores.

 

B. Dalton (212-633-3512) recently closed its store at Augusta Mall in Augusta, GA.  The lease had expired and the company decided not to renew it because it didn't make good business sense to continue at that location.

 

J.C. Penney (972-431-1000) plans to close its 34,000 sq.ft. store at Signal Hills Shopping Center in West St. Paul, MN during April.  The store, which has operated at the location for the past 42 years, is being closed because it has had declining sales and hasn't met the company's expectations.  The company also announced plans to close 75 of its 1,200 department stores nationwide.  Most of the store closings will be smaller stores in small communities.

 

Blockbuster Music (954-832-3000) plans to close its stores in South Miami, Penbroke Pines, Coral Springs and Pompano Beach, FL next month.  The stores are being closed because they have not been profitable.

 

Intimate Brands, Inc. (614-479-7000) recently closed its 118-unit Cacique lingerie stores nationwide in order to concentrate on its Victoria's Secret and Bath & Body Works chains.

 

Egghead, Inc. (509-922-7031) plans to close all of its 80 computer software stores nationwide because of declining revenues and continuing losses.  Instead, the company plans to shift its business emphasis to the Internet and will change its name to Egghead.com Inc.  The company expects to incur substantial losses in the coming two years as it builds its Internet customer base.

 

 

Space Place

 

Georgia

 

Athens-  Perimeter Square is anchored by TJ Maxx, Wal*Mart, Uptons and Cory Everson Fitness Center.  The 330,000 sq.ft. project has a 5,517 sq.ft. end cap space available for lease.  The site is located across from Georgia Square Mall.

  For details, contact Tammy Mobley of The Sport Shoe at (770-279-7494).

 

Maryland

 

Ocean City-  White Marlin Mall is anchored by Roses, Rite Aid and Premier Theaters.  The 165,000 sq.ft. project has spaces of 1,800 sq.ft. and 8,000 sq.ft. available for lease.  Demographics shift from season to season.  During the summer the population averages 300,000 which changes weekly.  From September through December and March through June the population averages 150,000.  In Salisbury-  Pecan Square is anchored by Food Lion and Edgehill Pharmacy.  The 62,000 sq.ft. project has a 1,400 sq.ft. space available for lease.

  For details, contact Paul Mitchell of Erwin L. Greenberg Commercial Corp. at (410-837-2500), Fax (837-0596).

 

Massachusetts

 

Saugus-  A 50,000 sq.ft. former Wiz store is available for lease.  The site fronts Broadway near the intersection of Route 1.  Demographics include a five-mile population of 327,000 earning $58,000 as the average income.

  For details, contact Duane Hillis of Duane Hillis & Co. at (617-262-1111), Fax (969-3170).

 

Michigan

 

Delhi Township-  An 18,800 sq.ft. former grocery store is available for lease.  The site can be split and converted to