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Issue Number 33
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The Dealmakers Issue Number 33 for the week of September 11, 1998. Accessories Tenants Expanding Nationwide Big "M," Inc. trades as Afaze at eight locations in CT, DE, NJ, NY and PA. The women’s accessories stores occupy spaces of 1,000 sq.ft. to 1,400 sq.ft. in regional malls. Plans call for five openings in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of 75,000 within three miles earning $25,000 as the average income. Leases running 10 years are typical and the company cites Afterthoughts and Claire’s as competition. For more information, contact Kenneth Mandelbaum, Big "M," Inc., 12 Vreeland Avenue, Totowa, NJ 07512; 973-890-0021, Fax 890-4075. Etienne Aigner operates 68 locations nationwide. The stores,
selling women’s accessories at off-price points, occupy spaces of 1,400 sq.ft. to
3,800 sq.ft. in outlet centers. Plans call for six openings in the coming 18 months.
Expansion will take place nationwide. Leases running five years are typical. Barami Enterprises trades as Barami Studio at 33 locations
in CA, CO, GA, IL, IN, MA, MI, MO, NJ, NY, PA, VA and Washington, D.C. The stores, selling
accessories, costume jewelry and some women’s apparel, occupy spaces of 2,500 sq.ft.
to 3,500 sq.ft. in downtown store fronts, freestanding facilities and regional malls.
Growth opportunities are sought in CA, CO, CT, DE, IN, MA, MD, MI, MO, NJ and NY. Leases
running 10 years are typical and the company prefers to locate its stores near upscale
tenants and in areas having high income demographics. Delta Hosiery Mills operates 35 locations in NY and PA. The stores,
selling socks, tights, pantyhose and warm-up suits, occupy spaces of 500 sq.ft. to 1,000
sq.ft. in freestanding facilities, regional malls, outlet and strip centers. Growth
opportunities are sought in NJ, NY and PA. Stone Mountain Handbags operates 24 locations in AL, CA, CT, FL,
GA, IL, KS, ME, MI, MO, NV, NY, PA, TN, TX and VA. The stores, selling handbags, wallets
and accessories, occupy spaces of 1,500 sq.ft. in outlet stores. Plans call for as many as
five openings in the coming 18 months. Expansion will take place nationwide. Leases
running five years are typical. M. Steuer Hosiery does business as Value Hosiery at eight
locations in NY. The stores, selling hosiery, lingerie and activewear, occupy spaces of
600 sq.ft. to 1,100 sq.ft. in downtown store fronts. Growth opportunities during 1999 will
be sought in the existing market. Who’s Opening & Where Filene’s Basement (617-348-7273) plans to open a 40,000 sq.ft. store at The Broadway at Surf in Chicago, IL and a 29,000 sq.ft. store at a former Stop & Shop Supermarket location in Stamford, MA this month. Wal*Mart Stores (501-273-4000) plans to open a 200,000 sq.ft. Supercenter at Eagleridge Shopping Center in Pueblo, CO this month. Restoration Hardware (214-750-0011) plans to open a 7,000 sq.ft. store at The Falls in Miami, FL during Fall. The company currently operates 50 stores in 24 states. Discount Auto Parts, Inc. (941-687-9226) recently opened two 6,838 sq.ft. stores in Slidell, LA. The company is planning to open two stores in Baton Rouge, LA and one store in Covington, LA this month. Overall, the company operates 467 stores in six states. Kohl’s Corp. (414-703-7000) recently opened department stores at Waters Place Shopping Center in Ann Arbor, MI; Baldwin Commons Shopping Center in Auburn Hills, MI; and in Canton Township, Northville, Lansing and Battle Creek, MI; Silver Springs, MD; Leesburg, VA; Westampton, NJ and Gastonia and Huntersville, NC. The company also plans to open an 86,854 sq.ft. store in Buchanan, WI. Harvey Electronics, Inc. (201-842-0078) plans to open a 4,800 sq.ft. store in Greenvale, NY during October. It will be the company’s sixth store in the metropolitan NY area. Dollar General (502-237-5444) plans to develop new stores in AR, IL and MO and has contracted Centurion Development Corp. to handle its acquisition and construction duties. Books-A-Million (205-942-3737) plans to open a 16,000 sq.ft. bookstore at a former Piece Goods location at Williamsburg Shopping Center in Williamsburg, VA next month. Books-A-Million currently operates more than 170 stores in 17 states. D’Amico & Partners, Inc. (612-374-1776) plans to open an 11,000 sq.ft. Campiello Italian restaurant at the Mercantile Building in Naples, FL during December. It will be the concept’s first unit outside of the Twin Cities area of MN. Currently, the company operates 14 restaurants. Elegant Illusions, Inc. (408-649-1814) plans to open an Elegant Illusions Created Gem and Copy Jewelry store at Lahaina Harbor on the island of Maui, HI this month. The store will be the chain’s 30th unit. The company is planning to open 20 additional stores by December 1999. Tiffany & Co. (212-605-4132) recently opened a 6,500 sq.ft. store at Cherry Creek Shopping Center in Denver, CO. The company is planning to open stores in Scottsdale, AZ; Las Vegas, NV and Seattle, WA this year and as many as 10 stores worldwide next year. Home Depot (770-433-8211) plans to open EXPO Design Centers in Boynton Beach, FL and Plano, TX before the end of the year. Openings during fiscal 1999 will take place in Houston, TX; Smithtown, NY; Fairfax, VA; Marietta, GA; Monrovia and Huntington Beach, CA. Additional 1999 openings will be announced later. Overall, the company is looking to open 200 EXPO stores in the coming seven years. The company recently opened three Home Depot stores in the Norfolk, VA area but had its rezoning request denied by Roanoke County, VA. The company had sought to open a 130,000 sq.ft. store in the southwest portion of the county and was seeking to have a 20-acre parcel of land rezoned to a general commercial use from residential and light commercial uses. In addition, the company plans to open five stores in Chile through 1999 and a store in Buenos Aires, Argentina next year. Best Buy Co., Inc. (612-947-2388) plans to open a 45,000 sq.ft. store at Carousel Center in Syracuse, NY during Fall. It will be the company’s first store in New York. The store is one of 25 to 30 stores the company is planning to open prior to the beginning of the holiday selling season. Fry’s Electronics (415-496-6100) plans to open a 150,000 sq.ft. store implementimg a Mayan Temple theme for its store decor, in north Phoenix, AZ during the second quarter of 1999. Schultz Sav-O Stores (414-457-4433) plans to open a 30,000 sq.ft. Piggly Wiggly supermarket in Madison, WI during Spring 1999. Oshman’s Sporting Goods, Inc. (713-928-3171) plans to open a 52,000 sq.ft. SuperSports store at Jersey Gardens in Newark, NJ; a 60,500 sq.ft. SuperSports store at Great Lakes Crossing in Auburn Hills, MI and a 55,000 sq.ft. SuperSports store at Dolphin Mall in Miami, FL. The store in MI is expected to open during the first quarter of 1999. The company is looking to open eight additional SuperSports stores in the coming two fiscal years. Crate & Barrel (708-272-2888) recently opened a 16,200 sq.ft. store at Park Meadows in Denver, CO. The company is also looking to open stores at Cherry Creek in Denver, CO and in Broomfield, CO. Consolidated Products (317-633-4100) plans to open a 3,690 sq.ft. Steak ‘n Shake restaurant in Madison, WI. Koo Koo Roo, Inc. (310-479-2080) recently opened Koo Koo Roo California Kitchen restaurants in Mission Valley, CA, Kendall, FL and Las Vegas, NV. The restaurant in Las Vegas will include a drive-thru, a first for the chain. The company currently operates 39 units in CA, FL and NV and 14 Hamburger Hamlet restaurants in CA and Washington, D.C. Your Office USA (619-881-2611) recently sold the franchise rights for all of WI, most of FL, excluding the southeastern portion and Arlington and Fairfax counties in VA. The investors are planning to open Your Office franchises in Milwaukee, WI; Tampa-St. Petersburg, FL and McLean, VA during Fall and will seek out franchisees to build and operate additional centers in the three states. Over the next five years the investors plan to open 40 franchises in FL, 17 in WI and 10 in northern VA. Your Office USA franchises provide business support for home-based and virtual office workers, small business owners, reps on the road, service professionals and business executives, field representatives and large and small start-up companies. Services include office and meeting space, video conferencing, secretarial services, business addresses, private phone/fax numbers, phone answering patched to the home, voice mail and use of computers. Your Office was founded in Germany in 1991, and currently operates in 40 countries. The parent company, which is also headquartered in San Diego, plans to have 500 franchises worldwide by 2000. One hundred franchises are planned for the U.S. To the Editor: You’re doing a great job! Your publication has come a long way. I used to own a large publishing company and I appreciate the work required. Please send along a rate card and deadlines, etc. Bruce Miller, COO Bruce: After a two-day hard-core road trip, the first thing I saw on my return was your note. What perfect timing! With your experience in the publishing business, I’m sure you understand the teamwork required for The Dealmakers from subscribers, advertisers and the people that put The Dealmakers together every week. Thanks for letting me know that we are on the right track. A.O. Buyers & Sellers The Betz Companies is selling a 27,400 sq.ft. outparcel of
Willowbrook Mall in Houston, TX. The site is NNN leased to Cost Plus and Gateway 2000.
Scheduled net operating income is $361,920 and the asking price is $3.6 million. Agree Realty Corporation recently acquired Mt. Pleasant Shopping
Center in Mt. Pleasant, MI for $9.1 million. The 241,458 sq.ft. project is anchored by
Kmart and JC Penney. Westrust Southwest Retail Partners, L.L.C. recently completed the
acquisition of Westgate Shopping Center in Woodland, CA for $9.395 million. The 111,683
sq.ft. project is anchored by Raley’s Supermarkets and Fabricland. The company also
acquired Stockdale Village Shopping Center in Bakersfield, CA. The project is anchored by
Longs Drugs, Olcutts and Office Depot. The center was purchased by Westrust from
Northwestern Mutual Life Insurance Company for $11 million. Westrust also acquired two
adjacent parcels. Plans for the site include the development of a Save Mart store and the
renovation of the center to accommodate a Hollywood Video store. Homestead Realty has the listing to sell a Black Angus Restaurant
in Poteau, OK. The unit, which seats 150, has been in business since 1959 and is located
adjacent to a 100-unit motel and sports bar. The asking price is $360,000. CleveTrust Realty Investors recently sold its remaining two assets
and plans to make a final liquidation distribution payment to shareholders and cease all
business operations by the end the month. The final assets sold included Tiffany Plaza
Shopping Center in Ardmore, OK, which was sold for $3.2 million, resulting in a $77,000
loss; and 20 acres of land in Akron, OH, which was sold for $100,000, resulting in a
$33,000 loss. The Rouse Co. has agreed to acquire the remaining 50% interest in
Bridewater Commons in Bridgewater, NJ from Prudential Insurance Company of America.
Bridewater’s current GLA is 900,000 sq.ft., but plans are in the works to expand the
mall by 250,000 sq.ft. during 1999 and an additional 420,000 sq.ft. by 2005. Beacon Realty Services, Inc., in conjunction with Cushman &
Wakefield of Florida, Inc. has the listing to sell The Shoppes of Promenade Shopping
Center in Jacksonville, FL. The 56, 479 sq.ft. project is anchored by Bell South. The
asking price is $3.5 million. Inland Real Estate Corporation recently acquired Schaumburg Plaza
Shopping Center in Schaumburg, IL and Eastgate Shopping Center in Lombard, IL for an
aggregate cost of more than $14 million. Schaumburg Plaza consists of two buildings
totaling 61,485 sq.ft. Anchors include Sears Hardware, Trak Auto, Ulta 3 and
Fuddruckers’s Restaurant. Eastgate Shopping Center, at 132,519 sq.ft., is anchored by
White Hen, Ace Hardware and Pizza Hut. The company recently brokered the sale of a 124,700
sq.ft. neighborhood shopping center in Merrillville, IN. The project is anchored by
Venture (soon to be taken over by Kmart), Hancock Fabrics and Hollywood Video. The project
listed for $3.1 million. The company also brokered the sale of a former Doc’s Drug
building in West Chicago, IL. The building, which contains 12,000 sq.ft. on the main level
and 12,000 sq.ft. on a basement level with its own exterior access, was acquired by two
local partners who plan to open an ethnic grocery store. The site listed for $585,000. Lincoln Property Company has the listing to sell 14.22 acres of
land at the southeast corner of Peachland and Loveland Boulevards in Port Charlotte, FL.
The site is located adjacent to the Publix-anchored Peachland Promenade. The site is zoned
CG with permitted uses being retail, movie theater, bowling alley, restaurant,
hotel/motel, professional/personal business offices and adult congregate living
facilities. Grocery stores are a prohibited use. Up to 10,000 sq.ft. per acre or 142,190
sq.ft. of GLA can be developed. The asking price is $1.85 million. Financial News Filene’s Basement Corp. (617-348-7156) reported second quarter net income of $996,000, compared to net income of $1.2 million during the second quarter last year. Net sales for the quarter increased four percent to $131.4 million from $126.3 million last year. Comparable store sales increased two percent for the quarter. Currently, the company operates 47 stores, primarily in the Northeastern and Midwestern regions. Lowe’s Companies, Inc. (910-658-4223) reported that its second quarter net earnings increased 31% to $165.4 million, compared to $126.5 million during the second quarter last year. Sales increased 22% to $3.43 billion from $2.81 billion last year. During the quarter, the company opened 15 stores and currently operates 457 home improvement stores in 26 states. Ross Stores, Inc. (510-505-4400) reported that its second quarter net earnings increased to $32.4 million from $28 million during the second quarter last year. Sales increased nine percent to $537 million from $491 million with comparable store sales up four percent for the quarter. During the quarter, the company opened eight stores. Twelve stores are planned for the third quarter. By the end of the year, the company is expecting to be operating 349 apparel stores in 17 states. Dayton Hudson Corporation (612-370-6948) reported that its total revenues during the second quarter increased 12.1% to $7.06 billion from $6.29 billion. Target’s pre-tax profit during the quarter increased 23% to $337 million, compared to $274 million last year. Total revenues for the quarter increased 13.5% with comparable store sales up 6.2%. Mervyn’s pre-tax profit during the quarter was $40 million, down from $58 million last year. Total revenues decreased one percent and comparable store sales were down 1.1% for the quarter. The Department Store Division reported a pre-tax profit increase of 40% to $45 million from $33 million last year. Total revenues for the quarter increased 6.8% with comparable store sales up 7.4% for the quarter. The company currently operates 828 Target stores, 269 Mervyn’s stores and 64 department stores. Silver Diner, Inc. (202-298-5500) reported a second quarter net sales increased of nine percent to $6.56 million from $6.01 million during the second quarter last year. Comparable restaurant sales increased 0.7% for the quarter. A net loss of $346,672 during the quarter, as compared to a net loss of $409,559 last year was also reported. The company is planning to open two restaurants in the Mid-Atlantic region. Currently, the company operates 10 diners in the Washington, D.C./Baltimore, MD area and one unit in Cherry Hill, NJ. Jacobson Stores, Inc. (517-764-6400) reported a second quarter net loss of $5.4 million, compared to a net loss of $5.8 million during the second quarter last year. Company-wide sales declined slightly to $95.3 million from $95.9 million last year. Comparable store sales increased 0.3% for the quarter. The company operates 24 specialty stores in FL, IN, KS, KY, MI and OH. The Cato Corporation (704-551-7586) reported that its second quarter net income increased 54% to $5.64 million from $3.78 million during the second quarter last year. Revenues for the quarter increased 10% to $137.2 million from $124.5 million last year. During the first half, the company opened 16 stores and closed eight. During the second half, the company is planning to open 34 stores and close nine. Currently, the company operates 552 Cato Fashion/Cato Plus stores and 149 It’s Fashion! Stores in 21 states. Gadzooks, Inc. (972-991-5500) reported that its second quarter net income increased to $606,000 from $171,000 during the second quarter last year. Net sales for the quarter increased 31.1% to $48.2 million from $36.8 million last year and comparable store sales fell 0.6% for the quarter. The company currently operates 305 mall-based stores offering casual apparel and related accessories for young men and women in 32 states east of the Rocky Mountains. The Home Depot (770-433-8211) reported that its second quarter net earnings increased 30% to $467 million from $358 million last year. Second quarter sales increased 24% to $8.139 billion from $6.55 billion last year and comparable store sales increased seven percent. During the quarter, the company opened 23 stores and currently operates 633 Home Depot stores, six EXPO Design Centers and 40 Home Depot stores in Canada. Bob Evans Farms, Inc. (614-492-4941) reported that its second quarter total net sales increased eight percent to $240.3 million from $222 million during the second quarter last year. Net income increased 36% to $14.1 million from $10.4 million last year. In the restaurant segment, comparable store sales increased 5.6% for the quarter and overall, restaurant sales were up nine percent for the quarter which contributed to a 13% increase in operating profits. The company currently operates 407 restaurants in 20 states, principally in the Midwestern, Mid-Atlantic and Southeastern regions. The Limited, Inc. (614-479-7000) reported that its second quarter net sales increased three percent to $2.08 billion from $2.02 billion last year. Comparable store sales increased six percent for the quarter. Operating income was $76.4 million, up five percent from $72.7 million last year. Net income was up 19% to $32.9 million from $27.6 million last year. The company currently operates 3,642 specialty stores trading as Limited, Limited Too, Express, Lerner New York, Lane Bryant, Structure, Gaylan’s and Henri Bendel. The company also owns 83% of Intimate Brands, Inc. which operates 1,799 Victoria’s Secret and Bath & Body Works stores. BJ’s Wholesale Club, Inc. (508-651-6063) reported that its second quarter net income increased to $18.4 million from $15 million last year. Net sales increased 11.1% to $860 million from $774 million last year and comparable store sales increased five percent for the quarter. Currently, the company operates 88 wholesale clubs in 13 states. Grand Union Co. (201-890-6000) recently emerged from Chapter 11 protection under a reorganization plan that includes two major components: nearly $600 million of the company’s debt is being converted into stock and banks will extend $300 million in credit, including a $230 million loan which the company plans to use to renovate and expand its aging stores. By changing its debt into stock, the company’s former noteholders will become owners and will receive newly issued stock. Existing common stock was canceled, but can be exchanged for warrants to purchase the new common stock. Existing preferred stock can be exchanged for warrants to purchase 14% of the new stock. The company currently operates 222 supermarkets. Eagle Hardware & Garden, Inc. (425-227-5740) reported that second quarter sales increased 11% to $308 million from $278.2 million last year. Comparable store sales increased six percent for the quarter. Net income was $15.4 million, up 18% from $13 million last year. The company plans to open as many as six stores by the end of fiscal 1998, including three units in southern CA. During fiscal 1999, the company plans to open as many as 12 stores, including at least six in CA. Currently, the company operates 32 warehouse home improvement centers in AK, CA, CO, HI, ID, MT, OR, UT and WA. Stage Stores, Inc. (713-669-2672) reported that its second quarter net sales increased 14.2% to $271. 8 million from $238.1 million last year. Comparable store sales fell five percent during the quarter. Net income for the quarter was $765,000, compared to $6.2 million last year. The company currently operates 630 stores trading as Stage, Bealls and Palais Royal, in 28 states. Hibbett Sporting Goods, Inc. (205-942-4292) reported that its second quarter net sales increased 23.2% to $32.5 million from $26.4 million last year. Comparable store sales increased 2.7% for the quarter. Net income for the quarter increased 37.1% to $1.4 million from $986,000 last year. During the quarter, the company opened 18 Hibbett Sports stores and two Sports Additions stores. The company plans to increase its store opening goal to 48 during fiscal 1999. Currently, the company operates 155 sporting goods stores in small to mid-sized markets in 17 states in the Southeastern region. American Eagle Outfitters, Inc. (412-776-4857) reported that its second quarter net sales increased 45.9% to $125.7 million from $86.2 million last year. Comparable store sales increased 35.6% for the quarter. Net income was $9.6 million, up from $1.1 million last year. The company currently operates 347 specialty apparel stores in 39 states. FAC Realty Trust, Inc. (860-232-4578) recently changed its name to Konover Property Trust, Inc. This is reflective of the acquisition of $100 million in assets from entities affiliated with Konover & Associates South. Simultaneously, Konover Property Trust announced the election of Simon Konover as chairman of the board. Longs Drug Stores Corporation (510-210-6763) reported that its second quarter sales increased 9.5% to $787 million from $718 million during the second quarter last year. Net income was $14.9 million, up 21% from $12.3 million last year. Comparable store sales increased 8.2% with pharmacy sales up 22%. The company currently operates 373 drug stores in CA, CO, HI, NV, OR and WA. Food Tenants Hungry for Sites Nationwide TRC Acquisitions Corp. trades as Rick Tanner’s Original
Rotisserie Grill at 14 locations in AL and GA. The restaurants occupy spaces of 4,500
sq.ft. in freestanding facilities, power and strip centers. Preferred anchors include Wal*Mart
and movie theaters. Plans call for 20 openings in the coming 18 months. Expansion will
take place in the TX and the Southeastern region. 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. Ming Garden, Inc. trades as Ming Garden at four locations in TX. The Chinese restaurants occupy spaces of 4,000 sq.ft. to 8,000 sq.ft. in freestanding facilities. Growth opportunities are sought in the existing market. Leases running five to ten years are typical. The company trades as Ming Gardens Asian Express at two locations in TX. The Chinese restaurants occupy spaces of 600 sq.ft. to 800 sq.ft. in strip centers. Growth opportunities are sought in the existing market. Leases running five to ten years are typical. The company also operates as a franchisee three Manchu Wok
restaurants in TX. The Chinese restaurants occupy spaces running 600 sq.ft. to 800 sq.ft.
in strip centers. Growth opportunities are sought in the existing market. Leases running
five to ten years are typical. Schick Enterprises, Inc. trades as Taco Bell at six
locations in northern MI and northern WI. The Mexican fast food restaurants occupy spaces
of 2,500 sq.ft. in freestanding facilities, power and strip centers. Preferred co-tenants
include convenience stores and strip centers. Plans call for three openings in the coming
18 months. Expansion will take place in the existing markets. Preferred demographics
include a population of 20,000 within five miles earning $22,000 as the average income.
Leases running 12 to 20 years are typical. Bowincal International, Inc. trades as Bowincals at six
locations in WV. The family sit-down restaurants occupy spaces of 1,500 sq.ft. in
freestanding facilities and strip centers. Growth opportunities are sought in the existing
market. Restaurant Systems International trades as Greenleaf’s Grille at four locations in MO, NJ, NY and Washington, D.C. The restaurants, which offer salads, grilled chicken, wraps and yogurt for the health-minded diner, occupy spaces of 600 sq.ft. to 1,200 sq.ft. in downtown store fronts, regional malls and strip centers. Plans call for as many as 10 openings in the coming 18 months. Expansion will take place nationwide. Leases running eight to ten years are typical and the company is franchising. The company does business as Everything Yogurt & Salad Cafe at 90 locations nationwide. The restaurants, serving health foods, salads, juices and frozen yogurt, occupy spaces of 500 sq.ft. to 800 sq.ft. in regional malls. Plans call for three openings in the coming 18 months. Expansion will take place nationwide. Preferred demographics include a population of 200,000 within three miles earning $40,000 as the average income. Leases running eight to ten years are typical. Another concept the company operates is Treat Street at one location in NY. The restaurant, which offers frozen yogurt, ice cream and smoothies, is seeking spaces running 300 sq.ft. to 1,200 sq.ft. in freestanding facilities, regional malls, power, specialty and strip centers. Plans call for as many as 10 openings in the coming 18 months. Expansion will take place nationwide. Leases running eight to ten years are typical and the company is franchising. Restaurant Systems International also operates South Philly Steak & Fries at 17 locations in the Eastern and Southern regions. The restaurants, specializing in cheesesteaks and french fries, occupy spaces of 750 sq.ft. in downtown store fronts and regional malls. Plans call for the opening of four units in the coming 18 months. Expansion will take place nationwide. Preferred demographics include a population of 250,000 within five miles earning $40,000 as the average income. Leases running eight to ten years are typical. The company trades as Bananas Ultimate Juice Bar at 29 locations nationwide. The specialty juice bars occupy spaces of 300 sq.ft. to 400 sq.ft. in downtown store fronts, regional malls and kiosk locations. Plans call for six openings in the coming 18 months. Expansion will take place nationwide. Preferred demographics include a population of 250,000 within five miles earning $40,000 as the average income. Leases running eight to ten years are typical and the company is franchising. The company also trades as Gretel’s Pretzels at 18
locations nationwide. The stores, offering fresh baked hand-rolled pretzels, occupy spaces
of 300 sq.ft. to 400 sq.ft. in regional malls and kiosk locations. Plans call for the
opening of four units in the coming 18 months. Expansion will take place nationwide.
Leases running eight to ten years are typical and the company is franchising. A&W Restaurants, Inc. trades as A&W All American Food
at 200 locations nationwide. The fast food restaurants occupy spaces of 800 sq.ft. to
1,200 sq.ft. in regional malls. Plans call for 20 openings in the coming 18 months.
Expansion will take place nationwide. Leases running 10 years are typical and the company
is franchising. Trombetta & Young Enterprises does business as Harpo’s
at five locations in HI. The restaurants occupy spaces of 450 sq.ft. to 2,500 sq.ft. in
regional malls. 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
two and half miles earning $30,000 as the average income. Leases running 10 years are
typical. Great American Cookie Co., Inc. trades as Great American Cookie
Co. at 370 locations nationwide. The cookie shops occupy spaces of 600 sq.ft. in
regional malls. Plans call for 30 openings in the coming 18 months. Expansion will take
place nationwide, exclusive of the Northeastern region. Leases running 10 years are
typical and the company is franchising. Paradise Bakery, Inc. trades as Paradise Bakery & Cafe
at 50 locations in AZ, CA, CO, HI, OK, OR, TX and WA. The restaurants, serving fresh baked
goods, sandwiches, soups, salads, pasta, specialty coffees and beverages, occupy spaces of
1,000 sq.ft. to 1,500 sq.ft. in regional malls. Plans call for 35 openings in the coming
18 months. Expansion will take place along the Eastern Seaboard. Preferred demographics
include a population of 50,000 within one mile earning at least $35,000 as the average
income. Leases running 10 years are typical and the company is franchising. Diversifoods, Inc. does business as Tropik Sun Fruit & Nut
at 94 locations nationwide. The stores, selling candy and nuts, occupy kiosk spaces
running 180 sq.ft. and in-line spaces running 1,200 sq.ft. in regional malls. Plans call
for 25 openings in the coming 18 months. Expansion will take place nationwide. Leases
running five to ten years are typical and the company, which is franchising, cites Candy
Headquarters and Sweet Factory as competition. New Construction Laurich Properties, Inc. is currently demolishing Sahara Square
Shopping Center in an unincorporated area of Clark County, NV and plans to break
ground next month on a new 95,234 sq.ft. Sahara Square. The $21 million project will be
anchored by a 57,708 sq.ft. Lucky Supermarket and a 15,481 sq.ft. Sav-on
drugstore. An additional 24,045 sq.ft. of specialty space will also be developed and a Terrible
Herbst service station will occupy a corner parcel. Construction financing for the
project is being provided by Bank One of Arizona with permanent financing being
provided by Banc One Capital Group. The original Sahara Square was built in 1967
and the new Sahara Square is expected to open during Summer 1999. The Rouse Corp. plans to redevelop Moorestown Mall in
Moorestown, NJ. Included will be the development of a new Strawbridges store and a
new Lord & Taylor store. The existing Boscov’s department store
will be expanded. Construction is expected to be completed during Fall 1999. The 1.1
million sq.ft. mall is also anchored by Sears. Future plans call for the addition
of another major department store (believed to be Nordstrom), a second level, a 12
to 14 screen movie theater and parking decks. No firm date on when or if construction of
the second phase will take place. Charter Realty and Weingarten Properties recently broke
ground on phase III of Springfield Plaza in Springfield, CT. Phase III will be
anchored by a 16-screen, 65,000 sq.ft. Regal Cinemas and a 3,400 sq.ft. Kentucky
Fried Chicken restaurant. When completed, the project will encompass 500,000 sq.ft.
and be anchored by Kmart, Super Stop & Shop, AMF Bowling, Savers, Ocean State Job
Lot, Cherry & Webb and Rocky’s Ace Hardware. A 34-acre assisted living
complex is also part of the 100-acre site. Several outparcels adjacent to the movie
theater are available for lease. Mergers & Acquisitions Rowe Furniture Corporation (540-375-3516) recently entered into an agreement to acquire Storehouse, Inc., operator of 42 furniture stores in AL, DE, FL, GA, LA, MD, NC, OK, PA, SC, TN, TX and VA. The acquisition price will be determined based upon the financial performance of Storehouse for the 12-month period ending April 30, 1999. The acquisition is expected to close no later than July 31, 1999. In addition, Rowe has agreed to make a $2.5 million investment in Storehouse at this time. Rowe is a furniture manufacturer and currently does not operate retail stores. Wolf Camera (404-633-9000) has agreed to merge with Westside Camera of New York City. Westside Camera operates one store and its president, Barry Glick, has joined Wolf as vice president Northeast store development and will lead Wolf’s expansion plans in the Northeastern region. Wolf Camera operates nearly 800 stores in 36 states. GB Foods Corporation (805-898-7134), operator of Green Burrito Mexican restaurants, and Franchise Finance Corporation of America (602-585-4500) have entered into a non-binding letter of intent to form a strategic alliance designed to promote the consolidation by GBFC and FFCA of the casual and family dining segments of the chain restaurant industry. Under the proposed alliance, FFCA will provide real estate financing to GBFC to fuel its expansion through new store development and acquisitions. The letter also provides that as either GBFC or FFCA becomes aware of third-party investment and acquisition opportunities within the casual and family dining segment, the opportunity to acquire real estate will be first offered to FFCA and the opportunity to acquire non-real estate assets will be first offered to GBFC. First Cash, Inc. (817-460-3947) recently acquired Miraglia, Inc., which operates 11 check cashing stores in CA and WA. First Cash also acquired two pawn shops in TX and three check cashing stores in CA. The acquisitions brings First Cash store count to 100 stores, consisting of 86 pawn shops and 14 check cashing stores. Woody’s Bar-B-Q Holdings, Inc. (904-724-1976) recently announced that it is selling its chain of seven corporate and 26 franchised barbecue restaurants to Redneck Foods, Inc. for $1.6 million in cash and approximately 1.3 million shares of RDNK common stock. The acquisition is being funded by a $3 million private placement that has been arranged through Jack Augsback & Associates. Woody’s is the fifth largest barbecue restaurant chain in the country. Redneck Foods, Inc. acquires, operates and franchises barbecue restaurants which are promoted through advertisements and regional appearances by comedian Jeff Foxworthy. The company also markets its own line of barbecue sauces, salsas, snack foods and other items through its restaurants and other retail outlets. Koo Koo Roo, Inc. (310-479-2080) announces that it has sold its Color Me Mine subsidiary, a chain of paint your own ceramic studios, to a diversified entertainment company in Canada for an undisclosed amount of cash and the assumption of certain liabilities. The sales concludes the company’s objective of divesting non-core assets and will allow it to focus solely on continuing the growth and development of the Koo Koo Roo California Kitchen concept. Quizno’s Corp. (303-291-0999) recently acquired the assets of Stoico Restaurant Group, Inc., including the 12-unit Sub & Stuff chain, which has been in Chapter 11 bankruptcy since Spring. Quizno’s bid of $500,000 for the chain was accepted by the Bankruptcy Court. The sale also include the Spaghetti Jack’s chain, which has been closed. Quizno’s plans to convert the Sub & Stuff units to its name and format. ConQuest Partners (972-233-9648) has withdrawn its bid to acquire 100% of the capital stock of Spaghetti Warehouse, Inc. Spaghetti Warehouse operates 41 restaurants in 12 states and Canada. Exclusives AmCap Properties, Inc. (303-321-1500) has been named the exclusive leasing agent for Broomfield Plaza in Broomfield, CO by Broomfield Plaza Associates, Ltd. The 95,000 sq.ft. project is anchored by King Soopers. The company has been named the exclusive leasing agent of Summit Square in Westminster, CO by Summit Square Investments. The 92,000 sq.ft. project is anchored by Safeway. The company has also been named the exclusive leasing agent of a project currently being developed in Jefferson County, CO. The 90,000 sq.ft. project, which is being developed by KKP-Wadsworth, LLC, will be anchored by King Soopers. A Summer 1999 opening is planned. R.J. Brunelli & Co., Inc. (732-721-5800) has been named the exclusive leasing agent of Parkway 70 Plaza in Brick, NJ. The 300,000 sq.ft. project, which is under construction, will be anchored by Target, Lowe’s Home Improvement Warehouse and Circuit City. Lead Sheet Apparel The 120-unit chain operates locations in AL, AR, FL, LA, MS, MO and TX. The stores, selling junior’s, plus and men’s apparel, occupy spaces of 2,500 sq.ft. to 3,500 sq.ft. in downtown store fronts and strip centers. Preferred anchors include supermarkets, Kmart and Wal*Mart. Plans call for 10 openings in the coming 18 months. Expansion will take place in AR, LA and TX. Preferred demographics include a population of 10,000 within three miles earning $25,000 as the average income. Leases running one to three years are typical. Name Brands, Inc. Apparel The 34-unit chain operates locations in AR, KS, MO, NE and OK. The stores, selling name brand apparel at price points up to 75% off retail, occupy spaces of 5,000 sq.ft. to 15,000 sq.ft. in freestanding facilities and strip centers. Plans call for two openings in the coming 18 months. Expansion will take place in AR, KS, MO and NE. Preferred demographics include a population of 30,000 within three miles earning $40,000 as the average income. Leases running three to five years are typical. VSI Holdings Apparel The 22-unit chain operates locations in FL, GA, LA, MI, MS, NC and TX. The stores, selling casual and sportswear, occupy spaces of 4,500 sq.ft. in regional malls, outlet and strip centers. Plans call for two openings in the coming 18 months. Expansion will take place in the Atlanta, GA market. Leases running five years are typical. Consumer Auto Parts, Inc. Automotive The 14-unit chain operates locations in CT, MA, NH and RI. The automotive parts stores 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 and southern VT. Ray Carr Tires, Inc. Automotive The six-unit chain operates locations in VA and WV. The automotive service centers occupy spaces of 5,000 sq.ft. in freestanding facilities and strip centers. Preferred co-tenants include supermarkets and drug stores. Plans call for as many as six openings in the coming 18 months. Expansion will take place in VA. Preferred demographics include a population of 25,000 within five miles earning $25,000 to $40,000 as the average income. The company cites Merchant’s Tire and Sears as competition. Coast Mart (Eastern Division) Convenience Store The 250-unit chain operates locations in FL, GA, NJ, NY, NC, PA, TN, VA and WV. The convenience stores occupy spaces of 3,000 sq.ft. in freestanding facilities. Plans call for three openings in the coming 18 months. Expansion will take place within the existing markets. Tri-Lakes Petroleum Convenience Store The 27-unit chain operates locations in AR, KS and MO. The convenience stores occupy spaces of 3,000 sq.ft. in freestanding facilities. Plans call for as many as four openings in the coming 18 months. Expansion will take place in KS and MO. Leases running 30 years are typical. The company prefers all correspondence to be done via mail or fax. Cost Plus, Inc. Department Store The 70-unit chain operates locations in AZ, CA, CO, ID, IL, IN, MI, MO, NV, NM, OH, OR, TX, WA and WI. The stores, selling furniture, housewares, jewelry, decorative items and gourmet foods and beverages, occupy spaces of 18,300 sq.ft. in power and strip centers. Plans call for 20 openings in the coming 18 months. Expansion will take place in the Midwestern and Western regions. Preferred demographics include a population of 200,000 within five miles earning $50,000 as the average income. Leases running 10 years are typical. Yankee $1 Stores Discount Store The 17-unit chain operates locations in the Northern region. The discount stores occupy spaces of 4,000 sq.ft. to 5,000 sq.ft. in regional malls and strip centers. Plans call for 18 openings in the coming 18 months. Expansion will take place in CT, MA and NY. Preferred demographics include a population of 25,000 within seven miles earning $25,000 as the average income. Leases running five years are typical. Community Distributors, Inc. Drug Store The 45-unit chain operates locations in NJ. The drug stores occupy spaces of 12,000 sq.ft. to 17,000 sq.ft. in freestanding facilities and strip centers. Preferred anchors include supermarkets. Plans call for eight openings in the coming 18 months. Expansion will take place in the existing market. Leases running 15 years are typical. Eckerd Corporation Drug Store The 2,900-unit chain operates locations AL, DE, FL, GA, KS, KY, MD, NJ, NY, NC, OH, OK, PA, TX, VA and WV. The drug stores occupy spaces of 10,000 sq.ft. to 13,000 sq.ft. in freestanding facilities. Plans call for 450 openings in the coming 18 months. Expansion will take place nationwide. Coast Plus General Merchandise The 12-unit chain operates locations in MA and RI. The general merchandise stores occupy spaces of 10,000 sq.ft. to 15,000 sq.ft. in strip centers. Preferred anchors include supermarkets. Plans call for as many as four openings in the coming 18 months. Expansion will take place in CT, MA and RI. Leases running 10 years are typical and the company prefers a vanilla shell. Hawkins Pro-Cuts, Inc. Hair Salon The 200+-unit chain operates locations in AR, CO, IN, KS, KY, LA, MN, MO, NE, NM, OH, OK and TX. The hair salons occupy spaces of 1,000 sq.ft. to 1,200 sq.ft. in strip centers. Preferred anchors include Home Depot, Target, Wal*Mart and supermarkets. Plans call for 20 openings in the coming 18 months. Expansion will take place in CO, TX, the Midwestern, Southern and Southeastern regions. Preferred demographics include a population of 30,000 within three miles earning $40,000 as the average income. Leases running five years are typical and the company, which is franchising, cites SuperCuts, Fantastic Sam’s and Great Clips as competition. Coaster Co. Of America 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. Brodkey Bothers, Inc. Jewelry The 10-unit chain operates locations in IA and NE. The jewelry stores occupy spaces of 1,000 sq.ft. to 1,200 sq.ft. in regional malls. Plans call for two openings in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of 150,000 within 25 miles earning $50,000 as the average household income. Leases running 10 years are typical and the company cites Zales, Helzberg’s and Gordon as competition. PetsMart Pet Supplies The 430-unit chain operates locations throughout North America. The pet supply stores occupy spaces of at least 20,000 sq.ft. in freestanding facilities, power and strip centers. Plans call for 60 openings annually. Expansion will take place throughout North America. Packaging Store, Inc. Service The 280-unit chain operates locations nationwide. The stores, offering shipping and packaging services, occupy spaces of 1,000 sq.ft. to 1,200 sq.ft. in strip centers. Preferred anchors include supermarkets. Plans call for 25 openings in the coming 18 months. Expansion will take place nationwide. The company is franchising and cites Postnet as competition Just For Feet, Inc. Shoes The 100-unit chain operates locations nationwide. The athletic shoe stores occupy spaces of 16,500 sq.ft. in freestanding facilities, regional malls and power centers. Preferred co-tenants include Gap/Old Navy, Circuit City and Borders. Plans call for 25 openings annually. Expansion will take place in the Southern region. Preferred demographics include a population of 350,000 within 10 miles earning $45,000 as the average income. Leases running 15 years are typical. World Class Footwear Shoes The 15-unit chain operates locations in FL. The stores, selling shoes and accessories, occupy spaces of 1,600 sq.ft. to 3,000 sq.ft. in regional malls. Preferred anchors include Macy’s and Sak’s Fifth Avenue. Plans call for as many as 15 openings in the coming 18 months. Expansion will take place in the existing market. Leases running seven to ten years are typical. EZcorp., Inc. Specialty The 250-unit chain operates locations in AL, AR, CA, CO, FL, GA, IN, LA, MS, NC, OK, TN and TX. The pawn shops occupy spaces of 4,500 sq.ft. to 5,000 sq.ft. in freestanding facilities and strip centers. Plans call for as many as 100 openings in the coming 18 months. Expansion will take place in the Midwestern, Southern, Southeastern and Southwestern regions. Preferred demographics include a population of at least 10,000 within one mile earning $30,000 as the average income. Leases running five years, with three five-year options are typical. The Visions Group Specialty The company operates temporary locations nationwide. The stores, selling Christmas products and general gifts, occupy spaces of 2,000 sq.ft. to 3,000 sq.ft. in regional malls, outlet and power centers. Plans call for at least 50 openings in the coming 18 months. Expansion will take place nationwide. Leases running two to four months are typical and the company is franchising. Bruno’s, Inc. Supermarket The 164-unit chain operates locations in AL, FL, GA, MS and TN. The supermarkets occupy spaces of 48,000 sq.ft. to 60,000 sq.ft. in power and strip centers. Preferred co-tenants include Kmart and Wal*Mart. Plans call for five openings in the coming 18 months. Expansion will take place in the existing markets. Leases running 20 years are typical. The Copps Corp. Supermarket The 18-unit chain operates locations in WI. The supermarkets occupy spaces of 30,500 sq.ft. in freestanding facilities and strip centers. Plans call for two openings in the coming 18 months. Expansion will take place in the existing market. Leases running 20 years are typical. Closings JC Penney (972-431-1000) plans to close its stores in Bonners Ferry, Kellogg, Moscow and Rexburg, ID. Since the beginning of the year, the company has closed 60 stores. The Sofa & Chair Co. (314-991-4040) plans to close its six furniture stores in the St. Louis, MO area next month. Montgomery Ward (312-467-2000) recently closed its stores at Rosedale Shopping Center in Rosedale, MN; Midway Marketplace in St. Paul, MN and Southtown Shopping Center in Bloomington, MN. Crown Books Corp. (301-731-1200) recently closed its stores in Bloomingdale, North Riverside, Palantine and Chicago (2), IL and is planning to close its stores in Deerfield, Evanston, Geneva, Hobart, Joilet, Northbrook and Skokie, IL as soon as going out of business sales are completed. Following the closures, the company will continue to operate 25 stores in the Chicago market. Service Merchandise Co. (615-660-6000) plans to close five of its six stores in CO by early 1999. Stores in Aurora, Colorado Springs, Denver, Thornton and Westminster will first be converted to clearance outlets this month before being closed early next year. The Pueblo store will remain open. The decision to close five of its six CO stores is part of the company’s restructuring plan which includes closing 53 stores. Lease Signings Duke Realty Investments, Inc. (317-846-4700) leased 29,000 sq.ft. to CompUSA, 18,900 sq.ft. to Cost Plus Imports and 26,000 sq.ft. to PetsMart at Tri-County Marketplace in Cincinnati, OH; 50,000 sq.ft. to Dick’s Clothing and Sporting Goods, 18,500 sq.ft. to Cost Plus Imports and 12,800 sq.ft. to Factory Card Outlet at Western Hills Marketplace in Cincinnati, OH; 122,000 sq.ft. to Garden Ridge at Eastgate Marketplace in Cincinnati, OH and 18,000 sq.ft. to Cost Plus Imports and 18,000 sq.ft. to Golf Galaxy at Tuttle Crossing Shopping Center in Columbus, OH. Sigma National, Inc. (804-320-6100) leased 23,500 sq.ft. to OfficeMax at Virginia Commons Mall in Richmond, VA. National Realty & Development Corp. (914-694-4444) leased 50,128 sq.ft. to Super A&P Food Market at Hadley Shopping Center in South Plainfield, NJ. Childs Realty Group (847-870-8585) leased one acre to Wendy’s at Woodland Commons Shopping Center in Buffalo Grove, IL; 1,725 sq.ft. to Instant Cash Advance at Sibley Crossing Center in Dolton, IL and 3,150 sq.ft. to Reel Entertainment at Colony Park Plaza in Schaumburg, IL. Mid-America Asset Management Co. (630-954-7300) leased 22,698 sq.ft. to Jeepers! at Lansing Square in Lansing, IL; 12,016 sq.ft. to Shoe Carnival at Woodgrove Festival in Woodridge, IL; and 4,060 sq.ft. to Athletic Attic at Skokie Fashion Square in Skokie, IL and 23,773 sq.ft. to Old Navy at Village Square of Northbrook in Northbrook, IL. The Sansone Group, Inc. (314-727-6664) leased 1,050 sq.ft. to Pak Mail Centers of St. Louis at Mid River Center in St. Louis, MO. Winbrook Realty Group, Inc. (212-643-8080) leased 17,000 sq.ft. to Tutor Time and 1,650 sq.ft. to Sally Beauty Supply at Cedarbrook Plaza in Wyncote, PA and 3,700 sq.ft. to Laundry Factory at Botany Plaza in Clifton/Passaic, NJ. Real Estate Professionals Making News Forest City Ratner Companies (718-722-3500) announces that Brett Goldman has joined the company’s retail development department as project manager. Divaris Real Estate (757-497-2113) recently formed a new operating unit known as Divaris Consulting and has appointed Judy Begland vice president. Divaris Consulting will provide a wide range of consulting services to municipalities, private/public institutions, states and federal agencies and private companies in all areas of economic development. In addition, the new company will assist corporations requiring development, relocation and expansion strategic planning services and advice. Some of the services involve the regional and local economic development programs and include: analysis of competitive factors, such as labor, land, infrastructure, quality of life, financing and regulatory climate; strategic planning for economic development; community consensus building; business retention and expansion strategies; and industrial and commercial business development strategies. Additional services will include the development of programs for marketing and leasing, tourism development, urban enterprise zones, business improvement districts and organizational development for nonprofit corporations. The company’s primary area of focus will be the Southeastern region. The Elder-Beerman Stores Corp. (937-296-2805) announces that Barry Nicholson has joined the company as vice president-real estate. In this newly created position, Nicholson will manage Elder-Beerman’s real estate portfolio and will direct the company’s store location, property management and leasing functions. Toys ‘R Us, Inc. (201-599-7850) announces the appointment of Robert Moran to president of Toys ‘R Us Canada, Ltd. Most recently, Moran was president and CEO of Sears de Mexico. Family Dollar (704-847-6961) announces that Howard Levine has been named chief executive officer, succeeding his father and company founder, Leon Levine. Leon Levine will remain as the company’s chairman. Space Place Florida Pompano Beach- Shoppers Haven is anchored by Winn-Dixie
Marketplace, Walgreens and Hops Restaurant. The 203,000 sq.ft. project has
satellite and anchor stores, including an end cap position, available for lease. Georgia Atlanta- Malls Corner Shopping Center is anchored by Uptons,
Michaels and Carmike Cinema. A 49,000 sq.ft. former Levitz space is available
for lease. Demographics include a 10-mile population of 431,400 earning $61,000 as the
average household income. Atlanta- Singleton Square is anchored by Kroger,
Tutor Time, Dollar Tree, Hollywood Video and Kinko’s. The 103,025 sq.ft.
project has 30,000 sq.ft. in a phase III expansion; eight acres in a phase IV expansion
and a 5,000 sq.ft. pad site available for lease. New Jersey Clifton/Passaic- Botany Plaza is anchored by Pathmark
Super Center, GNC, Mail Boxes Etc., Dollar Mania and Laundry Factory. A major
discount department store is also expected to anchor the center. Two spaces of 2,500
sq.ft. of in-line space and a 4,800 sq.ft. outparcel remain available for lease.
Demographics include a five-mile population of 600,028 earning $53,061 as the average
household income. New York Manhattan- A 5,830 sq.ft. ground space, plus basement, is
available for lease at 2511-2519 Broadway. Retailers in the area include The Gap, The
Wiz, Lechters, Rite Aid and Duane Reade. Also in Manhattan-
Spaces of 2,774 sq.ft., 10,700 sq.ft. and 6,000 sq.ft. are available for lease at 1633
Broadway. Also in Manhattan- Spaces of 1,889 sq.ft. at ground level, 10,662
sq.ft. at ground level and 20,000 sq.ft. at concourse level are available for lease at 150
East 42nd Street. The site is located across from Grand Central Station. Also in Manhattan-
Olympic Tower has spaces of 400 sq.ft., 600 sq.ft. (2), 2,050 sq.ft. and 2,112
sq.ft. available for lease. The site is located across from Rockefeller Center and Saks
Fifth Avenue. Also in Manhattan- A 1,750 sq.ft. ground floor space and a
1,750 sq.ft. showroom/storage space currently occupied by Celine are available for
lease at 51 East 57th Street. Retailers in the area include Louis Vetton, Coach, Brioni
and Prada. Four Seasons Hotel is also nearby. Also in Manhattan-
Spaces of 900 sq.ft., 1,100 sq.ft. And 1,850 sq.ft. are available for lease at 713 Madison
Avenue. Also in Manhattan- A 2,800 sq.ft. lower level space and a 5,600
sq.ft. ground level space are available for lease at 119 Fifth Avenue at 19th Street. North Carolina Durham- Gateway at NorthPointe Shopping Center is
anchored by Home Depot, Kroger and PetsMart. The 490,000 sq.ft. project has
anchor positions and outparcels available for lease. Ohio Cincinnati- Eastgate Marketplace is anchored by Garden
Ridge. The 119,300 sq.ft. project, which is expected to open during Summer 1999, has
spaces of 15,000 sq.ft., 16,000 sq.ft. (2), 32,300 sq.ft. and 40,000 sq.ft. available for
lease. Demographics include a five-mile population of 98,234 earning $63,782 as the
average income. The site is located near Eastgate Mall. Also in Cincinnati-
Western Hills Marketplace is anchored by Dick’s Sporting Goods, Cost Plus,
Factory Card Outlet and Johnny’s Toys. The 152,100 sq.ft. project has a
21,000 sq.ft. space available for lease. Demographics include a five-mile population of
224,040 earning $51,053 as the average income. Tennessee Antioch- Bell Forge Square is anchored by TJ Maxx,
Michael’s and Shoe Carnival. The 130,470 sq.ft. project has spaces of
3,300 sq.ft. and 4,000 sq.ft. available for lease. Demographics include a three-mile
population of 47,272 earning $46,759 as the average income. In Clarksville- Cunningham
Plaza is anchored by Winn-Dixie and Hastings Books and Records.
The 149,744 sq.ft. project has a 1,500 sq.ft. space available for lease. Also in Clarksville-
Hampton Plaza is anchored by Sam’s Club, Michaels, HH Gregg and Books-A-Million.
The 209,302 sq.ft. project has spaces of 1,500 sq.ft. and 18,450 sq.ft. available for
lease. Demographics include a five-mile population of 27,980 earning $44,578 as the
average income. In Jackson- Lynnwood Place is anchored by Kroger.
The 96,666 sq.ft. project has spaces of 1,225 sq.ft., 1,600 sq.ft., 2,500 sq.ft. and 4,800
sq.ft. available for lease. Demographics include a three-mile population of 41,632 earning
$44,506 as the average income. In Jamestown- Sandstone Square is
anchored by Wal*Mart and Food Lion. The 73,504 sq.ft. project has a 1,200
sq.ft. space available for lease. In McMinnville- Cumberland Plaza is
anchored by Dollar General and CVS. The 147,751 sq.ft. project has spaces of
1,500 sq.ft., 2,500 sq.ft., 29,000 sq.ft. and 80,000 sq.ft. available for lease.
Demographics include a five-mile population of 20,558 earning $29,632 as the average
income. |