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Issue Number 21
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The Dealmakers Issue Number 21 for the Week of June 11, 1999. Home Furnishing Retailers Opening Stores Nationwide Mattress Giant Inc. operates 180 locations in DE, FL, MA, MN, MO,
NH, NJ, PA, RI and TX. The stores, selling mattress and home furnishings, occupy spaces of
4,000 sq.ft. to 6,000 sq.ft. in freestanding facilities and power centers. Preferred
co-tenants include Circuit City and Pier 1 Imports. Plans call for 50
openings in the coming 18 months. Expansion will take place in IL, Washington, D.C.,
Philadelphia, PA and New England. Preferred demographics include a population of 250,000
within 10 miles earning $45,000 as the average income. Leases running five years are
typical and the company prefers a vanilla shell and $10 psf in tenant improvements. The
company cites department stores and furniture stores as competition. R.H. Kuhn Company, Inc. trades as Freight Liquidators Furniture
Showroom at 12 locations in OH, PA and WV. The furniture stores occupy spaces of
35,000 sq.ft. in regional malls, power and strip centers. Plans call for at least two
openings in the coming 18 months. Expansion will take place in OH, western PA and northern
WV. Preferred demographics include a population of 100,000 within five miles earning
$45,000 as the average income. Leases running five years, with options, are typical. Westco Group, Inc. trades as Mattress Warehouse and Sleepfair
at 50 locations in KS, KY, IN, MO, OH and TN. The stores, selling bedding, occupy spaces
of 8,000 sq.ft. to 10,000 sq.ft. in freestanding facilities and power centers. Preferred
anchors include T.J. Maxx, Target and Wal*Mart. Plans call for as many as 10
openings in the coming 18 months. Expansion will take place in IN, KS and MO. Preferred
demographics include a population of 180,000 within five miles earning $50,000 as the
average income. Leases running five years are typical and the company prefers a vanilla
shell. Domain operates 25 locations in CT, MD, MA, NJ, NY, PA and VA. The
home furnishing stores occupy spaces of 5,000 sq.ft. to 6,000 sq.ft. in downtown store
fronts, freestanding facilities, regional malls and specialty centers. Plans call for two
openings in the coming 18 months. Expansion will take place in MA, NJ, NY, PA or
Washington, D.C. Preferred demographics include a population of 100,000 within five miles
earning $70,000 as the average income. Leases running 10 years are typical.
New Construction MetroGroup Development and its joint venture partner Branch
& Associates recently broke ground on Roswell Crossing in Roswell, GA. The
203,122 sq.ft. project, located at the intersection of Highway 92 and King Road, will be
anchored by OfficeMax, Pike’s Nurseries, Walgreen’s, Sport Shoe, Party City,
Salon 124, Australian Body Works, Dick and Harry’s Restaurant, Taco Mac and Outback
Steakhouse. Negotiations are underway with a national soft goods store. The center
will be designed in a turn-of-the-century village main street motif, with each store and
restaurant having a unique visual identity. The site will be pedestrian-friendly, and will
feature brick pavers, period lighting and outdoor dining areas. A 10,000 sq.ft.
second-story will be leased as office space for small professional services firms. The
center, which is located near Home Depot and a Publix-anchored shopping
center, will serve a three-mile population of 38,212 earning $116,303 as the average
household income. The first stores are expected to open during Fall. Michael Joseph Development Corporation plans to break ground during
Summer on a 225,000 sq.ft. shopping center in Dubois, PA. The project will be anchored by Fezell’s
Shop ‘N Save and OfficeMax. The developer is also looking to attract a
large home improvement retailer, a family apparel stores and an electronics/appliance
store to the center. G. Heller Enterprises plans to develop Veterans Square on
the site of a former chemical plant in Lyndhurst, NJ. The 14-acre project will be anchored
by a 60,000 sq.ft. ShopRite Supermarket. Negotiations are underway with several
national and regional retailers to occupy the remaining 45,000 sq.ft. of the site.
Discussions are also underway with New Jersey Transit to lease a rear portion of
the property for a 450-car parking lot to serve a new Lyndhurst train station which will
be constructed directly behind the shopping center. The developer plans to donate a corner
portion of the property to the township for a pocket park and is also funding the creation
of a monument which will memorialize Lyndhurst veterans. ShopRite plans to open during
Fall and when it does, it will close its supermarket located on Valley Brook Avenue. CBL & Associates Properties, Inc. recently broke ground on Chesterfield
Crossing in Richmond, VA. The 440,000 sq.ft. project, located in the northeast
quadrant of the intersection of Route 288 and Route 360, will be anchored by a 220,000
sq.ft. Wal*Mart Supercenter and a 130,000 sq.ft. Home Depot. Space for three
additional anchor stores and 24,000 sq.ft. of small shop space will also be developed.
Home Depot is expected to open during the first quarter of 2000 and Wal*Mart is expected
to open during Summer 2000. The Rappaport Cos. has filed a plan with officials in Roanoke, VA
to re-develop Towers Shopping Center by replacing a closed Regal Cinema, an
old gas station and land with four buildings for new stores, restaurants and offices. The
largest of the buildings is expected to be 22,000 sq.ft., however, none of the buildings
will be built until tenants are signed. In the plans filed with the city, Rappaport plans
to demolish the three-screen Regal Cinema, which closed when the company opened a 10
screen theater at Tanglewood Mall, and replace it with two buildings that could
hold as many as 19 small tenants. In addition, a restaurant and a 21,978 sq.ft. building
is proposed for the former gas station site and undeveloped land. Other potential uses for
the restaurant site include drug store, convenience store or another gas station. The
shopping center’s expansion plan conflicts with a tentative plan to extend Wonju
Street from Colonial Avenue to Brandon Avenue. However, the extension’s exact route
has not been determined and the city engineer did not see it as a basis to deny permission
for the shopping center’s expansion. The road extension isn’t expected to begin
until 2003. Once leases are secured, buildings can be developed within six months. Donahue Schriber and Lennar Communities plan to develop a
10-acre shopping center that will house the first supermarket in the North Natomas, CA
region where more than 60,000 people are expected to live within 40 years. The center will
be located at the intersection of Del Paso Boulevard and Natomas Boulevard within the
1,250-acre master-planned community being developed by Lennar. Lennar is contributing the
land for the center and Donahue Schriber is the managing development partner. Although a
tenant has not been named, the company said that all of the major chains have shown an
interest in the site. The community and shopping center is located near the Donahue
Schriber developed Natomos Marketplace, a 500,000 sq.ft. power center anchored by Wal*Mart,
Home Depot, PetsMart and Staples that opened last year. The final piece of that
project, a 16-screen Regal Cinemas, is expected to open during August. Eisner Co. is developing Town Center at Germantown in
Germantown, MD. The 110,000 sq.ft. project, located at the intersection of Route 118 and
Middlebrook Road, will be anchored by a 50,000 sq.ft. Safeway supermarket and a
25,000 sq.ft. cultural arts center funded by Montgomery County, MD. Space for restaurants,
additional retail and a gas station will also be developed. The center will serve a
three-mile population of 67,465 earning $69,919 as the average household income. A March
2000 opening is planned.
Buyers & Sellers Coldwell Banker Commercial represents an investor in the market to
acquire strip centers in northern CA and southern OR. Preferred projects must show a
minimum 10% cap and have upside potential. Centers in need of rehab will be considered. Drucker & Falk, LLC has the listing to sell 1.39 acres of land
in Newport News, VA. The property is located at a signalized intersection and is zoned C-2
which permits a range of retail uses including auto services and gasoline sales. Grubb & Ellis brokered the sale of a 119,126 sq.ft.
freestanding Sam’s Club store in Fountain Valley, CA. The project was sold by Center
Trust Retail Properties to a private family trust for $13.9 million. Millennium Properties, Inc. represented Marine Midland Bank in the
sale of Merrionette Park Plaza in Merrionette Park, IL. The 107,000 sq.ft. project is
anchored by Goodwill Industries, Hair Performers and Pubs. The asking price was $4
million. Dietz Organization has the listing to sell a Just For Feet NNN
leasehold in Columbus, OH. The 18,900 sq.ft. store has a 15-year lease with increases
every five years. Financing of a non-recourse loan for 75% of acquisition at eight percent
interest with a 20 year amortization and 15 year term is available. New England Retail Properties, Inc. has the listing to sell the
former Corney T’s Restaurant and Jazz Club in downtown Hartford, CT. The 24,000
sq.ft. project was originally known as Spencers. Bryant Development Corp., Inc. recently acquired Shaw’s South
Shopping Center in Brockton, MA. The 127,000 sq.ft. project is anchored by Shaw’s
Supermarkets, Consolidated Stores, Fashion Bug and Friendly’s. The seller was
Shaw’s Supermarkets. The acquisition brings the company’s portfolio to more than
one million sq.ft. The company plans to acquire an additional 1.5 million sq.ft. of
property before the end of the year. Investment Realty Resources, Inc. has the listing to sell a portion
of Rainbow Plaza in Mannington, WV. The 33,400 sq.ft. portion for sale is anchored by CVS,
Family Dollar and Warehouse Grocery and also include two outlots. The remainder of the
project is occupied by Dollar General, Shop and Save, USPS, a dry cleaner, a video store
and a pizza restaurant. The asking price is $1.6 million. Madison Development Group has the listing to sell 47 acres of land
located at the intersection of SR 528 and I-90 in Madison Village, OH. The zoning allows
the development of restaurants, convenience stores and hotels. All utilities are
available. The asking price is $100,000 per acre for a part of the tract and $70,000 per
acre for the entire tract. UNIWEB Commercial Inc. has the listing to sell a 19,000 sq.ft.
retail center in Kendall, FL. The project is currently 74% occupied. Freitas Associates, Inc. represents an investor in the market to
acquire shopping centers having six to twelve tenants with long-term leases in the
Boston-Worcester, MA market. Projects in southern NH and Fort Meyers, Naples and southwest
FL will also be considered. The investor will also consider centers with fewer than six
tenants if they are credit tenants. Acadia Realty Trust recently sold Auburn Plaza in Auburn, ME. The
256,000 sq.ft. project, which is 68% occupied, is anchored by Service Merchandise, T.J.
Maxx and Hoyt Cinema. The Ainbinder Company recently acquired a 23,500 sq.ft. HEB Pantry
Grocery Store in Houston, TX from the H.E. Butt Grocery Company. H.E.B. is leasing back
the site from Ainbinder and plans to expand the store to 30,000 sq.ft. Ainbinder plans to
build another 36,000 sq.ft. of additional space at the project, including the development
of two pad sites. David Adam Realty, Inc. represented Waldman Associates Limited
Partnership and Waldman Avon, LLC in its acquisition of Avon Marketplace in Avon/Simsbury,
CT from S.R. Weiner & Associates, Inc. for $14.5 million. The 74,351 sq.ft. project is
anchored by The Gap, Gap Kids/Baby Gap, Victoria’s Secret, The Limited, Structure,
Bath & Body Works, Express, Michaels Jewelers, Au Bon Pain, Bertucci’s Brick Oven
Pizza, Jennifer Convertibles, Yankee Candle and HMV Records. Grubb & Ellis/Harrison & Bates has the listing to sell
Casey’s in Williamsburg, VA. The 33,000 sq.ft. specialty department store, which is
currently in Chapter 11, is located at the main intersection in Williamsburg, which has
more than three million visitors per year.
Sources of Financing Holliday Fenoglio Fowler, L.P. (214-265-0880) recently provided a $1.7 million loan to refinance Hampton Place in Tallassee, AL. The seven-year, fixed-rate loan was placed on behalf of Tallassee Associates S.C., Inc. through Lehman Brothers Holdings, Inc. The 43,027 sq.ft. project is anchored by Food Fair and CVS Drugs. The company also arranged $6.6 million in financing for the construction of three Eckerd Drug Stores in TX. The fixed-rate loan was placed on behalf of Shelby Estus Real Estate Group through Jefferson Pilot Life Insurance Company. The freestanding stores will be built in Huntsville, Lufkin and Texas City, with completion scheduled this year. Jo-Ann Stores, Inc. (330-656-2600) recently completed its financing initiatives to position itself for long-term growth. The company has issued $150 million of 10-3/8% senior subordinated notes due 2007. The notes are callable after four years. in addition, the company entered into a new five-year $300 million senior credit facility with a group of financial institutions. Proceeds from the senior subordinated notes, coupled with borrowings under the new senior credit facility, will be used to refinance the company’s existing senior credit facility. The new capital structure will allow the company to execute its growth plans over the next several years through the continued rollout of its superstore concept in major metropolitan markets and continue its reposition and expansion of its traditional store base in small and middle markets. Currently, the company operates 1,053 stores in 49 states trading as Jo-Ann Fabrics and Crafts and Jo-Ann Etc. Glimcher Realty Trust (614-621-9000) recently negotiated a 30-year $20.5 million loan from Lehman Capital to refinance Weberstown Mall in Stockton, CA. The loan carried a 7.43% interest rate for the first seven years. Part of the loan will be used to pay off an $11.5 million first mortgage that Glimcher assumed when it bought the mall from Hapsmith Co. The first mortgage carried a fixed rate of 8.8% and was not scheduled to mature until 2016. The remaining loan proceeds will be used to reduce short-term borrowings. Glimcher paid $23 million for the mall, which has a GLA of 838,712 sq.ft. and is anchored by Dillard’s, J.C. Penney and Sears. Economic Financial Concepts (732-441-2948) offers up to 100% financing for freestanding retail stores, strip centers with and without anchors, factory outlet centers, regional malls, restaurants, convenience stores and other retail uses. Suburban Capital Markets, Inc. (301-838-9050) recently provided first mortgages for the following shopping centers: $6.15 million for Orchards Shopping Center in Greenwood Village, CO; $4.5 million for Gold Coast Shopping Center in Syosset, NY; $3.165 million for Talbot Shopping Center in Rockville, MD; $6.15 million for Maywood Shopping Center in Jackson, MS; $5 million for Parkside Marketplace in Richmond, VA; $3.4 million for Palm Beach Market Place in West Palm Beach, FL; $4.6 million for Strathmore Shopping Center in Aberdeen, NJ; $5.01 million for Edmonston Crossing Center in Rockville, MD and $4.765 million for shopping centers in IL, OH and WV.
Lease Signings Developers Diversified Realty Corp. (216-755-5500) leased 3,908 sq.ft. to St. Louis Bread Company at The Plaza at Sunset Hills in Sunset Hills, MO; 12,000 sq.ft. to David’s Bridal at La Plaza Del Norte in San Antonio, TX; 35,000 sq.ft. to Bed Bath & Beyond at Family Center at Midvalley in Taylorsville, UT; 10,291 sq.ft. to Gateway Country at The Promenade at Brentwood in Brentwood, MO and 12,383 sq.ft. to Newman Outfitters at Uptown Solon in Solon, OH. Excess Space Disposition, Inc. (516-365-6400) subleased the following former CVS locations: 6,000 sq.ft. to Advance Auto in Warren, MI; 9,240 sq.ft. to Scotty’s in Cantonment, FL; 8,697 sq.ft. to Dollar General in Dothan, AL; 9,000 sq.ft. to Dollar General in Enterprise, AL; 9,000 sq.ft. to Dollar General in Huntsville, AL; 10,069 sq.ft. to Dollar General in Effingham, IL; 8,375 sq.ft. to Dollar General in Warrenville, IL; 7,800 sq.ft. to Parker Pawnshop in Fayetteville, NC; 8,450 sq.ft. to Dollar General in Carlisle, PA and 9,000 sq.ft. to Dollar General in Alexander City, AL. The company subleased the following former Eckerd Corporation locations: 8,640 sq.ft. to Dollar General in Mansfield, TX; 8,160 sq.ft. to Dollar General in Richland Hills, TX; 13,110 sq.ft. to Dollar General in Aliquippa, PA; 10,356 sq.ft. to Baba Investments in Pasadena, TX and 9,025 sq.ft. to Erwin Distributors in Lufkin, TX. The company subleased a 42,071 sq.ft. former Winn-Dixie location to Nielsen Media Research at Crystal Beach Plaza in Palm Harbor, FL. The company subleased a 14,775 sq.ft. former Walgreen site to Card & Party Mart in Northlake, IL. The company subleased a 3,967 sq.ft. former Staples-owned site to Family Christian Stores in Venice, FL. The company also subleased a 4,550 sq.ft. former Charming Shoppes location to Cellular One at Sam’s/Target Shopping Center in Salina, TX. The Katsias Company (757-490-3585) leased 43,650 sq.ft. to Food Lion, 7,500 sq.ft. to Family Dollar, 5,000 sq.ft. to Rent-A-Center and 3,440 sq.ft. to Simply at Langley Square Shopping Center in Hampton, VA. The company also leased space to Ruby Tuesday’s at Hampton Town Center in Hampton, VA; in Chesapeake, VA; at Princess Ann Market Place in Virginia Beach, VA and space to Chick-fil-A in Virginia Beach, VA. KLNB Inc. (410-321-0100) leased 800 sq.ft. to Chick-fil-A at Marley Station in Towson, MD; 800 sq.ft. to Chick-fil-A at Lake Forest Mall in Gaithersburg, MD; 800 sq.ft. to Chick-fil-A at Fair Oaks Plaza in Fairfax, VA; 3,800 sq.ft. to Chick-fil-A at Rivertowne Commons in Frederick, MD; 3,800 sq.ft. to Chick-fil-A at The Marketplace in Laurel, MD and 3,800 sq.ft. to Chick-fil-A in Timonium, MD. Lamar Companies (888-212-2222) leased 25,000 sq.ft. to Office Depot and 15,200 sq.ft. to Factory 2-U Stores at Moreno Valley Plaza in Moreno Valley, CA. Charter Realty & Development Corp. (203-629-3939) leased 38,600 sq.ft. to Regal Cinemas for a 10-screen theater at Hobbs Brook Center in Sturbridge, MA and 64,632 sq.ft. to Regal Cinemas for a 16-screen theater at Smithfield Commons in Smithfield, RI. Sigma National, Inc. (804-320-6100) leased 44,874 sq.ft. to Food Lion at Gainsborough Square in Chesapeake, VA; 28,000 sq.ft. to Circuit City, 26,040 sq.ft. to PetsMart and 10,623 sq.ft. to Zany Brainy at Columbiana Station Shopping Center in Columbia, SC; 2,700 sq.ft. to Triton PCS at Chesterfield Crossing in Richmond, VA and 1,200 sq.ft. to General Nutrition Center at Kensington Square in Suffolk, VA. Atlantic Realty Companies (703-760-9500) leased 4,255 sq.ft. to Cincinnati Cafe and 1,628 sq.ft. to Dairy Queen at Hunters Woods Village Center in Reston, VA. CB Richard Ellis (619-646-4718) leased 5,400 sq.ft. to Tuesday Morning at Southside Shopping Center in Bakersfield, CA and 6,480 sq.ft. to Tuesday Morning at Northridge Shopping Center in Bakersfield, CA. The Shopco Group, L.P. (212-594-9400) leased 5,371 sq.ft. to Bath & Body Works Home Store, 4,392 sq.ft. to American Eagle Outfitters, 4,200 sq.ft. to The Children’s Place, 4,173 sq.ft. to Lenscrafters, 3,221 sq.ft. to L’Patricia and 639 sq.ft. to Charley’s Steakary at Ridgmar in Fort Worth, TX.
Who’s Opening & Where U.S. Factory Outlets, Inc. (212-563-3650) plans to open a 31,000 sq.ft. store at Denton Factory Stores in Denton, TX during August. This will be the company’s sixth anchor location in a factory outlet center in addition to the 21 other stores located in strip centers and regional malls. Denton Factory Stores is owned by Exposition Mills which is associated with Hunt Petroleum. The center is managed by Woodmont Property Management Company. WinCo Foods (503-588-3426) recently opened an 85,000 sq.ft. store in Idaho Falls, ID, the fourth the company has opened this year. Two more stores are expected to open later this year. Currently, the company operates 30 stores in northern CA, ID, NV, OR and WA. In 1997, the company ranked 281st on Forbes magazine’s list of top private companies, with annual revenues of $750 million and net profits of $11 million. WinCo has been an employee-owned company since the mid-1980s. Employees each year receive company stock they can cash in when they leave or retire. For example, a clerk who earns $6 an hour (the starting wage) and works 1,000 hours in a year could be eligible for a stock bonus of $750. The value of the stock is determined each year by an independent evaluator. An employee must work for the company five years to collect the stock he/she has amassed each year. Allen-Edmonds Shoe Corp. (414-284-3461) recently opened its second shoe store in Chicago, IL at a 1,700 sq.ft. space on the first floor of the American National Bank Building. The company is also planning to open stores in Atlanta, GA and Cincinnati, OH this year. Aaron Rents, Inc. (404-231-0011) recently signed a franchise agreement with Aspen Way Enterprises, Inc. to open nine stores in Spokane, WA; Idaho Falls and Pocatello, ID; Billings, Great Falls and Missoula, MT; Casper and Cheyenne, WY and Rapid City, SD. The company also signed a franchise agreement with WRTO, LLC to open seven stores in the metropolitan Philadelphia, PA market. The company is also planning to open an additional 15 to 20 company-owned stores this year and at least another 30 franchised stores. In addition, the company has acquired four franchised stores. The Elder-Beerman Stores Corp. (937-296-2700) plans to open a 56,000 sq.ft. store at Marketplace Shopping Center in Warsaw, IN and a 54,000 sq.ft. store in Frankfort, KY during Fall. The stores will feature a new concept for the company which will enhance customer service through more convenient store layouts and state-of-the-art fixturing, coupled with new approaches to store staffing, associate compensation and use of technology. In addition, the company is expanding its 39,000 sq.ft. store at Sandusky Mall in Sandusky, OH by 47,000 sq.ft. and is expanding its store at Winfield Liberty Square Shopping Center by 30,000 sq.ft. French Riviera Spa (901-276-2585) plans to open a 28,000 sq.ft. fitness center at Poplar Plaza during July. The unit will be the largest in the five-unit chain and will feature the largest free weight and cardiovascular workout area in the city. In addition, a 5,000 sq.ft. aerobic area will be available. The spa joins anchors Kroger, Petco, Dollar Tree and GNC as tenants at the shopping center. Stride Rite Footwear (617-824-6000) plans to open a Stride Rite Junior store at Westroads Shopping Center in Omaha, NE through its franchisee Fit Rite, Inc. which operates a Stride Rite store at Harvest Oaks Plaza. The 700 sq.ft. Junior store will exclusively offer shoes for children aged five and younger. Red Hot & Blue Memphis Bar-B-Que (703-526-4182) recently opened a restaurant at a former East Side Mario’s location in Colorado Springs, CO through its franchisee Tetra Management Inc. Tetra Management paid $1.1 million to buy the site which was vacated by East Side Mario’s during March 1998. The unit is the first in the state of CO and Tetra Management plans to scout CO for additional locations. Tetra Management also operates locations in Wichita, KS. The company also recently opened a 5,000 sq.ft. franchised restaurant in Arlington, TX and is planning to open a restaurant in Southlake, TX. Red Hot & Blue operates 35 units, mainly in the eastern region. Recreational Equipment Inc. (253-395-3780) plans to test two prototype stores this year. The first is a 25,000 sq.ft. unit that will be opened at Woodfield Mall in Schaumburg, IL and in Reno, NV during Fall and in Troy, MI during Spring 2000. The second will be a 12,500 sq.ft. strip center store that will open in Bellingham, WA later this year. Kohl’s Department Stores (414-703-7000) recently entered the Lexington, KY market with an 86,000 sq.ft. store at Hamburg Pavilion. Publix Super Markets (941-688-1188) plans to open a 44,270 sq.ft. supermarket in Pompano Beach, FL during late this year or early next year. Gart Sports (303-861-1122) recently entered the OR market through the assumption of two existing Sportmart stores in Salem and Clackamas and the opening of a Gart Sports store in Salem. The two Sportmart stores will be converted to the Gart name and format. Gart Sports is the largest full-line, big box sporting goods retailer west of the Mississippi River operating 127 stores in 16 Western states. CSK Auto Corp. (602-265-9200) plans to open 105 Checker Auto Parts stores and relocate another 45 before the end of its fiscal year on January 31, 2000. During 1998, the company opened and relocated nearly 130 stores. Currently, the company operates more than 810 stores in the Western half of the country. Nike Inc. (503-641-6453) plans to open a 10,790 sq.ft. Nike Factory Store at Bloomington-Normal Factory Stores in Normal, IL during late Spring. Hastings Entertainment, Inc. (806-351-2300) recently opened a 24,750 sq.ft. store in Normal, IL, the second of 20 planned openings this year. The company, which operates 131 stores located primarily in small to medium-size markets in 19 Midwestern and Western states, anticipates operating 170 stores by the end of fiscal 2000. www.hastingsentertainment.com Ruby Tuesday, Inc. (423-379-5700) recently signed a development agreement with Casual Dining Australia PTY Limited that calls for the development of Ruby Tuesday restaurants in Australia and New Zealand. ShopKo (920-497-2211) recently opened stores at former Venture Store locations in Wichita, KS. ShopKo enters a market where Kmart, Target and Wal*Mart are already competing for the consumers’ dollar. The addition of a fourth discounter to the market will make Wichita an interesting place to watch for retail analysts to see how each handles the competition. Men’s Wearhouse (510-657-9821) recently opened a store in Union, NJ, its first in the central NJ market and seventh in the state. Overall, the company operates more than 430 stores nationwide. Quality Food Centers (206-455-3761) plans to develop a 39,380 sq.ft. grocery store in Lacey, WA. The store is being built on the site of an old school house in the North Thurston School District and the company, the Lacey Historical Commission and the Lacey Historical Society are working together to make sure the store has the same architectural features as the old Lacey Elementary schoolhouse. Quizno’s Corporation (303-291-0999) recently awarded master franchises for the development of Quizno Class Subs restaurants in Australia and the United Kingdom. The principals of Quizno’s Canada Corporation, which holds the master franchise for Canada, have also bought the rights to develop 100 Quizno units over the next ten years in the United Kingdom for a fee of $510,000. The first restaurant is expected to open in London during Summer. Glenvista Enterprises PLC has acquired the rights to a master franchise to open 100 Quizno’s over the next 10 years in Queensland, New South Wales, Victoria and the Australian capital territory. The fee for this franchise was $221,069. Currently, the company operates more than 500 restaurants in 35 states, Puerto Rico, Canada and Japan. Walgreens (847-940-2500) plans to develop a 13,800 sq.ft. drug store in Shawnee, KS. Walgreens was attracted to the location because of its demographics which boast a five-mile population of 208,035 earning $62,527 as the average household income. Burlington Coat Factory (609-387-7800) plans to open a 134,000 sq.ft. store at a former Montgomery Ward location at Lafayette Square Mall in Indianapolis, IN.
Exclusives Metro Commercial Real Estate, Inc. 9609-866-1900) has been named the exclusive leasing agent for Bloom Circle Center in Berlin, NJ by The Bloom Organization. The 30,000 sq.ft. project is anchored by Blockbuster Video and McDonald’s. The company has been named the exclusive leasing agent for Anchorage Square in Toms River, NJ. The 23,200 sq.ft. project is anchored by Berkeley Seafood House. The company has been named the exclusive leasing agent of Ames Shopping Center in Vineland, NJ. The 118,000 sq.ft. project is anchored by a 72,000 sq.ft. Ames Department Store. The company has also been named the exclusive leasing agent for Laurel Mill Shopping Center in Stratford, NJ. The 72,000 sq.ft. project is anchored by Incollingo’s Stratford Market and Rite Aid. CB Richard Ellis (619-546-4600) has been awarded the leasing and marketing contract for The Pavilion in Vista, CA by Meyers Properties. The 110,000 sq.ft. project is anchored by Dow Stereo, Dunn Edwards, Gold’s Gym, David’s Bridal and Cap Spas. The site is located near Costco, Home Depot, HomeBase and Circuit City. Lombard Group (203-574-2228) is the exclusive leasing agent for Shops at Ledgeboork in Winsted, CT. The 105,000 sq.ft. project is anchored by Super Stop & Shop and Rite Aid. In-line spaces of 2,033 sq.ft. and 5,083 sq.ft., as well as a pad site, are available for lease. A phase II expansion is buildable up to 100,000 sq.ft. United Commercial Realty (214-526-6262) represents Sport Clips in its Dallas/Fort Worth, TX expansion. Sport Clips has secured eight of its planned 15 openings in the market for 1999. Overall, the company plans to open 40 stores in the market in the coming three years. Sport Clips is an upscale hair salon specifically catering to men and children, and designed with a theme of sports and entertainment. The salon’s design includes big-screen televisions playing sports in the waiting area and televisions located at every station. The stores occupy 1,400 sq.ft. and prefer to locate in high-end retail shopping centers. Mid-America Asset Management Company (630-954-7300) has been named the exclusive leasing and management assignment of Plaza Del Prado Shopping Center in Glenview, IL. The 129,112 sq.ft. project is anchored by Jewel/Osco, Jacob Brothers Bagels and Starbucks.
Lead Sheet Big "M", Inc. Accessories The 10-unit chain operates locations in CT, NJ, NY and PA. The stores, selling women accessories and gifts, occupy spaces of 800 sq.ft. to 1,000 sq.ft. in regional malls. Preferred anchors include national department stores. Plans call for as many as 10 openings in the coming 18 months. Expansion will take place in CT, DE, NJ, NY, PA and VA. Leases running 10 years are typical and the company cites Claire’s and Afterthoughts as competition. Danice Stores Inc. Apparel The 10-unit chain operates locations in NY. The stores, selling women’s apparel at off price-points, occupy spaces of 5,000 sq.ft. in downtown store fronts and power centers. Plans call for two openings in the coming 18 months. Expansion will take place in the existing market. Name Brands Inc. Apparel The 28-unit chain operates locations in AR, KS, MO, OH and OK. The stores, selling apparel at discount price-points, occupy spaces of 15,000 sq.ft. to 30,000 sq.ft. in freestanding facilities. Plans call for as many as two openings in the coming 18 months. Expansion will take place within the existing markets. Preferred demographics include a population of 200,000 within five miles earning $45,000 as the average household income. Leases running three to five years are typical, while the company prefers a vanilla shell and to locate its stores in second generation space. Consumer Auto Parts Inc. Automotive The 18-unit chain operates locations in MA. The automotive parts stores occupy spaces of 6,000 sq.ft. in freestanding facilities and strip centers. Growth opportunities are sought in the existing market. Leases running five years, with options, are typical. General Mobile Electronics Automotive The 40-unit chain operates locations in CA. The stores, selling mobile electronics and cellular phones, occupy spaces of 2,000 sq.ft. to 3,000 sq.ft. in freestanding facilities, entertainment centers, power, specialty and strip centers. Preferred co-tenants include movie theaters and major competitors. Plans call for as many as seven openings in the coming 18 months. Expansion will take place in southern CA. Leases running five to ten years are typical and the company, which prefers a vanilla shell, cites Best Buy, Circuit City and The Good Guys as competition. Lauriat’s Inc. Books The 72-unit chain operates locations in CT, DE, ME, MD, MA, NH, NJ, NY, PA, RI and VT. The book stores occupy spaces of 4,500 sq.ft. to 5,500 sq.ft. in strip centers. Preferred anchors include supermarkets. Plans call for 30 openings in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of 50,000 within five miles earning $60,000 as the average income. Leases running five years, with options, are typical. Diamonds Hallmark Cards & Gifts The 21-unit chain operates locations in NJ and NY. The stores, selling Hallmark cards and gifts, occupy spaces of 4,000 sq.ft. in downtown store fronts and regional malls. Plans call for two openings in the coming 18 months. Expansion will take place in the existing markets. Leases running 12 years are typical. Friendly Food Shops Inc. Convenience Store The six-unit chain operates locations MI. The convenience stores, which also sell gasoline, occupy spaces of 2,500 sq.ft. to 3,000 sq.ft. in freestanding facilities. Plans call for one opening in the coming 18 months. Expansion will take place in the existing market. Tedeschi Food Shops, Inc. Convenience Store The 135-unit chain operates locations in MA and NH. The convenience stores, which also sell gasoline, occupy spaces of 3,500 sq.ft. in freestanding facilities. Plans call for two openings in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of 5,000 within two miles. Leases running 25 years are typical and the company is franchising. Yocum Oil Company Convenience Store The 12-unit chain operates locations in MN and WI. The convenience stores, which also sell gasoline, occupy spaces of 2,800 sq.ft. to 5,000 sq.ft. in freestanding facilities. Plans call for one opening in the coming 18 months. Expansion will take place in MN. Leases running 10 years are typical. The company is also a distributor. Stein Mart Inc. Department Store The 185-unit chain operates locations in AL, AR, AZ, CA, CO, FL, GA, IL, IN, IA, KS, KY, LA, MS, NE, NV, NY, NC, OH, OK, PA, SC, TN, TX, VA and WI. The department stores occupy spaces of 36,000 sq.ft. in regional malls and strip centers. Plans call for 30 openings in the coming 18 months. Expansion will take place nationwide. Preferred demographics include a population of 120,000 within five miles earning $50,000 as the average income. Lynne Brick’s Women’s Health/Fitness Director of Real Estate Fitness The four-unit chain operates locations in MD. The women’s fitness centers occupy spaces of 10,000 sq.ft. in freestanding facilities and strip centers. Growth opportunities are sought in MD and VA. Regis Corporation dba Master Cuts Christopher Fox 7201 Metro Boulevard Minneapolis, MN 55439 612-947-7000, Fax 947-7900 Hair Salon The 436-unit chain operates locations nationwide. The hair salons, primarily catering to men and children, occupy spaces of 1,000 sq.ft. to 1,200 sq.ft. in regional malls. Plans call for 75 openings in the coming 18 months. Expansion will take place nationwide. Leases running 10 years are typical. TGF Haircutters, Inc. dba TGF Hair Cutters Dan Durr/Tim Weber c/o First Western Properties-Tacoma, Inc. 6402 Tacoma Mall Boulevard Tacoma, WA 98409 253-472-0404, Fax 472-0541 Hair Salon The 18-unit chain operates locations in WA. The hair salons occupy spaces of 1,000 sq.ft. to 1,400 sq.ft. in power, specialty and strip centers. Preferred anchors include supermarkets and drug stores. Plans call for 15 openings in the coming 18 months. Expansion will take place in the existing market. Leases running five to ten years, with options, are typical and the company cites Great Clips and SuperCuts as competition. Kitz & Pfeil Hardware Co. Inc. dba Kitz & Pfeil Hardware Carl Stapel 427 North Main Street Oshkosh, WI 54901-4907 920-236-3340, Fax 236-3348 Home Improvement The seven-unit chain operates locations in WI. The home improvement stores occupy spaces of 12,000 sq.ft. in downtown store fronts, freestanding facilities and strip centers. Plans call for one opening in the coming 18 months. Expansion will take place in the existing market. Leases running five years are typical and the company prefers a vanilla shell. Platypus Steve Greenberg c/o The Greenberg Group 1200 West Broadway Hewlett, NY 11557 516-295-0406, Fax 374-0999 Housewares The nine-unit chain operates locations in DE, NJ, NY, PA and Washington, D.C. The stores, selling housewares, gifts and home furnishings, occupy spaces of 5,000 sq.ft. in downtown store fronts, freestanding facilities, specialty and strip centers. Plans call for as many as six openings in the coming 18 months. Expansion will take place in the Northeastern region. Preferred demographics include a population of 100,000 within five miles earning $70,000 as the average income. Waccamaw Corporation dba Waccamaw, Your Home Superstore Marc Campbell 3200 Pottery Drive Myrtle Beach, SC 29579 843-236-4606, Fax 236-7718 Housewares The 45-unit chain operates locations in AL, FL, GA, IL, IN, MD, NC, OH, SC, TN and VA. The stores, selling housewares, occupy spaces of 45,000 sq.ft. in freestanding facilities, power and strip centers. Preferred co-tenants include Kohl’s, Target, Upton’s, supermarkets and women’s apparel retailers. Plans call for 15 openings in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of 50,000 within three miles earning $50,000 as the average income. Leases running 15 years are typical and the company cites Bed Bath & Beyond and Linens ‘N Things as competition. Braude Jewelry Corp. dba Page Jewelers, Armstrong’s Diamond Center Keith Braude 211 East Ontario Chicago, IL 60611 312-988-4520, Fax 988-9759 Jewelry The 25-unit chain operates locations in IL, IA, MI, MN and WI. The jewelry stores occupy spaces of 900 sq.ft. to 1,500 sq.ft. in regional malls. Plans call for as many as five openings in the coming 18 months. Expansion will take place in the existing markets. Leases running seven years are typical. Michaels Jewelers John Michaels 150 Mattatuck Heights Waterbury, CT 06705-3831 203-597-4942, Fax 597-4990 Jewelry The 12-unit chain operates locations in CT. The jewelry stores occupy spaces of 1,500 sq.ft. to 1,800 sq.ft. in regional malls. Preferred anchors include Filene’s, Lord & Taylor, Macy’s and JC Penney. Plans call for one opening in the coming 18 months. Expansion will take place in the existing market. Leases running 10 years are typical. Wild Birds Unlimited Inc. dba Wild Birds Unlimited Paul Pickett 11711 North College #14 Carmel, IN 46032-5605 317-571-7100, Fax 571-7110 e-mail: pickettp@wbu.com home page: www.wbu.com Specialty The 263-unit chain operates locations nationwide, exclusive of AK, HI, NV, ND, SD, VT and WY. The stores, selling wild bird feed and supplies, occupy spaces of 1,600 sq.ft. to 2,400 sq.ft. in freestanding facilities, specialty and strip centers. Plans call for 25 openings in the coming 18 months. Expansion will take place nationwide. Preferred demographics include a population of 100,000 within seven miles earning $50,000 as the average income. Leases running three to five years are typical. Busybody Inc. dba Busybody Home Fitness Patrick Murphy 20630 Plummer Street Chatsworth, CA 91311 818-993-3888, Fax 885-0292 Sporting Goods The 90-unit chain operates locations in CA, CO, FL, GA, IL, IN, MD, MA, MI, MO, NH, NJ, OH, PA, TX, VA and Washington, D.C. The stores, selling fitness equipment, occupy spaces of 3,000 sq.ft. to 4,000 sq.ft. in power and strip centers. Preferred anchors include Circuit City, Men’s Wearhouse, Old Navy, Gap and bookstores. Plans call for 25 openings in the coming 18 months. Expansion will take place in CT, NJ, NY, Denver, CO and San Francisco, CA. Preferred demographics include a population of 250,000 within five miles earning $50,000 as the average household income. Leases running five years, with a five-year option, are typical. Hibbetts Sporting Goods Inc. dba Hibbetts Sporting Goods Bill Stevens 451 Industrial Lane Birmingham, AL 35211 205-942-4292, Fax 912-7290 Sporting Goods The 181-unit chain operates locations in AL, AR, FL, GA, IL, KY, LA, MO, MS, NC, OK, SC, TN, TX and VA. The sporting goods stores occupy spaces of 5,500 sq.ft. in regional malls, power and strip centers. Preferred anchors include Belk’s, JC Penney, Wal*Mart, Kmart, Target, Goody’s and Old Navy. Plans call for as many as 60 openings in the coming 18 months. Expansion will take place in the existing markets as well as in IL, IN, KS, OH, PA, TX and WV. Preferred demographics include a population of 30,000 within 10 miles earning at least $25,000 as the average household income. Leases running five years are typical. Weis Markets, Inc. dba Weis Markets John Weis 1000 South Second Street Sunbury, PA 17801-0471 570-286-4571, Fax 286-3286 Supermarket The 160-unit chain operates locations in MD, NJ, NY, PA, VA and WV. The supermarkets occupy spaces of 53,000 sq.ft. in freestanding facilities, power and strip centers. Preferred co-tenants include Kohl’s and Target. Plans call for as many as 16 openings in the coming 18 months. Expansion will take place in MD, NJ, NY and PA. Preferred demographics include a population of 15,000 within three miles earning $55,000 as the average income. Leases running 15 years are typical.
Mergers & Acquisitions McDonald’s Corp. (630-623-3000) recently agreed to acquire the privately-owned, 143-unit Donatos Pizza Inc. chain. Terms of the acquisition were not disclosed and the deal is expected to close next month. For McDonald’s, it marks the second time the company has ventured into the pizza business. About 10 years ago, the company tried its own line of pizza, but quickly removed it from the menu when sales flopped. However, in purchasing Donatos, McDonald’s is buying an established chain. McDonald’s is believed to have looked at more than 60 pizza chains before purchasing Donatos. The company is expected to keep the Donatos name and could launch a rapid expansion of the concept by making it available to it franchisees. Currently, McDonald’s doesn’t allow its franchisees to operate other concepts. The first franchised Donatos units could be open within a year. While McDonald’s will still concentrate a majority of its efforts on its hamburger restaurants (1,750 are expected to be added this year), the acquisition will provide it with another growth vehicle. In other acquisition news, McDonald’s recently purchased Aroma, a London-based chain of 23 coffee shops. Tosco Corporation (203-977-1000) recently entered into an agreement with BP Amoco to purchase 137 retail gas station and convenience store sites located primarily in seven major Southeastern urban areas as well as Pittsburgh, PA. Tosco plans to rebrand the stations with "76" gasoline and Circle K convenience stores. Michelin North America, Inc. (864-458-4370) plans to acquire Tire Centers, Inc., an Akron, OH-based tire retailer and retreader with 163 stores in 30 states. TCI will remain a stand-alone business and will continue to sell all major tire brands. It holdings include more than 100 tire stores formerly owned by B.F. Goodrich. Michelin’s primary interest in acquiring TCI was for its retreading business and not its retail stores. TCI operates 17 shops that make retreads for truck tires. Most of those shops have converted, or are in the process of converting, to Michelin retreading technology under a previous agreement. The Quizno’s Corporation (303-291-0999) recently sold the franchising rights and obligations for most of the Bain’s Deli’s franchise agreements and licensed the Bain’s Deli trademark to Bain’s Deli Corporation in PA for $850,000, of which $800,000 is in the form of a promissory note. Quizno’s will retain control of 15 Bain’s franchise agreements, which may be converted to Quizno’s Classic Subs in the future.
Real Estate Professionals Making The News Trammell Crow Company (561-394-3388) announces the appointment of Benjamin Brody as leasing associate within the company’s retail services division. In his new position, Brody will be responsible for retail tenant representation and project leasing in the Broward and Miami-Dade counties, FL markets. Brody joins Trammell Crow from Divaris Real Estate in Miami where he was a broker-associate specializing in leasing, tenant representation and commercial sales. During that time he was involved with leasing a South FL retail portfolio and the exclusive representation of tenants including Regal Cinemas, Bally Total Fitness, Wolf Camera, Atlanta Bread Company and the Athletic Attic in Miami-Dade and Broward counties. The David Cronheim Company (973-635-2180) announces the appointment of Rick Madore as a sales associate. In his new position, Madore will be responsible for the sale and leasing of commercial and industrial properties with a focus on Middlesex and Somerset counties in NJ. Madore joins Cronheim Co. from Villari’s Self Defense Centers where, as vice president, he was instrumental in the growth and expansion of the national company opening 30 centers throughout CT, NJ and NY. JumboSports Inc. (813-886-9688) announces the appointment of Al Fasola as chief executive officer and Mike Worrall as president, replacing Jack Bush. Bush, former chairman, president and CEO, will continue to serve as chairman of the board, while Fasola, Worrall and Robert Floum, chief operating officer, will manage the company’s day-to-day operations. The company also announces that Jerry Kollar, vice president and controller, will assume additional responsibilities by becoming chief financial officer. The company operates 42 sporting goods stores in 18 states and is currently operating under Chapter 11 protection. Johnson Capital Group, Inc. (949-660-1999) announces that Gregory Richardson has joined the company as capital markets officer. In his new position, Richardson will be performing real estate and financial analysis in connection with all types of real estate capital, with emphasis on underwriting and arranging permanent debt. The company also announces that Bret Zinn has joined the company’s Phoenix, AZ office as commercial real estate finance officer. Zinn will be performing real estate and financial analysis in connection with all types of real estate capital, with emphasis on underwriting and arranging permanent debt. Dover House Capital (770-351-8350) announces that it has changed its name to J.P. Morgan Capital Inc., more closely aligning the wholly owned subsidiary with parent company J.P. Morgan & Co. Incorporated. J.P. Morgan Mortgage Capital Inc. is the commercial mortgage arm of J.P. Morgan and was established in 1996 to provide permanent means of originating commercial mortgage loans intended for securitization. In 1998, the company closed more than 200 loans totaling $1 billion. The company plans to close approximately $2.5 billion in loans this year. Elder-Beerman Stores Corp. (937-296-2700) announces the promotion of Scott Davido as executive vice president, chief financial officer and treasurer. Davido was previously senior vice president, general counsel and secretary. CKE Restaurants, Inc. (714-774-5796) announces the promotion of John Dunion to executive vice president and chief administrative officer for CKE Restaurants. In his new position, Dunion will oversee the planning and direction for nearly all major corporate staff functions in support of restaurant operations for the company’s Carl’s Jr., Hardee’s and Taco Bueno chains. www.ckr.com Dollar General Corporation (502-237-5444) announces that Brian Burr has been named chief financial officer. Grubb & Ellis Company (714-937-0881) announces that Tim McMahon has rejoined the Newport Beach office as senior vice president with the retail services group. McMahon has been a retail specialist in the Southern CA commercial real estate market for 20 years. During that time he has been responsible for the sale and leasing of more than eight million sq.ft. of retail properties. McMahon returns from Pentz & Partners, where he spent the past two years as an executive vice president in charge of the firm’s retail brokerage operation. He also worked directly with major clients. Prior to joining Pentz & Partners, McMahon was with Grubb & Ellis for 15 years, 14 of them as a retail specialist. The company also announces that Mark Einbund, a retail specialist in its West Los Angeles office, has been promoted to vice president. Einbund, who specializes in the leasing and sale of Los Angeles area retail properties, has been in the commercial real estate business for 16 years. The Limited, Inc. (614-479-7000) announces that Robert Bielinski has been named vice president, financial operations for Limited Stores. In his new position, Bielinski will be responsible for store control, sales audit, merchandise payables, inventory control and payroll. Prior to joining The Limited, Bielinski was with Boston Chicken, Inc. where he held a variety of leadership financial positions, including senior vice president, finance; senior vice president, planning and analysis and treasurer. The company also announces that Steven Wilson has been appointed vice president, planning and allocation of Lane Bryant. Previously, Wilson was director of inventory management at Bath & Body Works. In his new position, Wilson will be responsible for maintaining the financial and merchandising systems. Toys ‘R Us, Inc. (201-262-7800) announces that Bruce Krysiak has resigned as president and chief operating officer of the U.S. Toy Store division. The company also announces that Mike Shannon, executive vice president, has been named president of the U.S. Toy Store division. Blair Design & Construction (800-825-6118) announces the appointment of James Reed as vice president of operations at its OH office. The company also announces the appointment of Richard Nelson as vice president of construction at its Dallas, TX office. Gantos, Inc. (616-949-7000) announces the appointment of Thomas Villano as senior vice president and chief financial officer. PM Realty Group Investment Services, LLC (312-759-8000) announces that William Kralovec has been promoted to senior vice president, national director of transactional services. Erwin L. Greenberg Commercial Corporation (410-837-2500) announces the appointment of Brian Gibbons as president and chief executive officer. Prior to joining the company, Gibbons served on the management committee of Fedder and Garten, P.A. as head of its real estate group.
Space Place California Oakland- Spaces from 7,000 sq.ft. to 40,000 sq.ft. are
available for lease at a shopping center anchored by HomeBase. The project, which
is undergoing a major renovation, also has pad sites from 5,000 sq.ft. to 20,000 sq.ft.
available for lease. Demographics include a three-mile population of 183,000 earning
$47,800 as the average household income. Also in Oakland- A 1,500 sq.ft.
space is avaiable for lease in the central business district fronting Piedmont Avenue.
Demographics include a one-mile population of 30,300 earning $60,700 as the average
household income. In San Jose- The Winfield Center is anchored by Big
Five Sporting Goods, Aaron Brothers Art Mart, Leslie’s Pool Supplies and FuncoLand.
The project has an end-cap space of 3,250 sq.ft. available for lease. Demographics include
a three-mile population of 181,500 earning $72,600 as the average household income. In San
Leandro- A 1,370 sq.ft. space is available for lease at a convenience center
anchored by Blockbuster Video, Great Clips and Jenny Craig. Demographics
include a one-mile population of 26,900 earning $50,800 as the average household income. Connecticut New Haven- Cromwell Commons is anchored by Firestone
Tire & Auto, Fabric Place and Burger King. The project has spaces of 1,950
sq.ft. and 8,000 sq.ft. available for lease. Retailers in the area include Wal*Mart. Florida Cape Coral- Coral Pointe Shopping Center is anchored by Publix
and Scotty’s Hardware. The 117,014 sq.ft. project has spaces from 900 sq.ft.
to 10,000 sq.ft. available for lease. In North Ft. Myers- Lochmoor Plaza
is anchored by Eckerd Drugs. The 92,456 sq.ft. project has spaces from 1,000 sq.ft.
to 45,500 sq.ft. available for lease as well as outparcels of 3,500 sq.ft. and 4,200
sq.ft. available for lease. In Seminole- Seminole Mall is anchored by
Kmart, Upton’s, Publix, Stein Mart, Waccamaw, Beall’s, Eckerd Drugs and
an AMC Theater. The 424,358 sq.ft. project has spaces from 525 sq.ft. to 10,198
sq.ft. available for lease. Winter Garden- Winter Garden Regional is anchored by Publix,
Bealls, Eckerd and Dollar General. The 209,810 sq.ft. project has spaces of 900
sq.ft., 1,488 sq.ft., 1,872 sq.ft. and an anchor position of 78,792 sq.ft., which is
divisible, available for lease. Demographics include a five-mile population of 134,552
earning $58,174 as the average income. Illinois Carol Stream- County Farm Shopping Center is anchored by
Family Foods. The 109,468 sq.ft. project has spaces of 1,080 sq.ft., 1,500 sq.ft.
and 1,642 sq.ft. available for lease. Demographics include a three-mile population of
85,016 earning $71,634 as the average income. Maryland Cumberland- Queen City Centre is anchored by Martin’s
Grocery Store. The 77,422 sq.ft. project has 12,000 sq.ft. available for lease.
Demographics include a three-mile population of 30,188 earning $33,920 as the average
income. Massachusetts Chicopee- Bradlees Plaza is anchored by Circuit City
and Sports Authority. The 322,000 sq.ft. project has 105,000 sq.ft. available for
lease. Michigan Kalamazoo- Westmain will be anchored by a department
store, a supermarket and a movie theater. The 400,000 sq.ft. project has spaces of 20,000
sq.ft., 25,000 sq.ft. and 25,000 sq.ft. available for lease. A 2000 opening is planned.
Demographics include a five-mile population of 109,526 earning $48,398 as the average
income. Retailers in the area include Harding’s Grocery, Meijer, OfficeMax and
Target. Nebraska Fremont- Park Place, a 9,800 sq.ft. strip center, has
spaces of 1,400 sq.ft. and 2,800 sq.ft. available for lease. Demographics include a
five-mile population of 26,458 earning $31,210 as the average income. New Jersey Hackettstown- 80 Main Plaza is anchored by ShopRite
Liquor and Summit Bank. The 35,000 sq.ft. project has spaces of 1,100 sq.ft.
and 5,000 sq.ft. available for lease. Demographics include a three-mile population of
22,600 earning $40,300 as the average income. In White Township- Spaces of
1,200 sq.ft. and 1,700 sq.ft. are available for lease at a 12,000 sq.ft. strip center
located inside a 237-unit housing development. Demographics include a five-mile population
of 15,000 earning $56,000 as the average income. Vineland- Maintree Shopping Center is anchored by Acme,
Eckerd Drug and Blockbuster. The 122,500 sq.ft. project has spaces from 1,750
sq.ft. to 18,000 sq.ft. available for lease. Demographics include a three-mile population
of 43,000 earning $44,000 as the average income. New York Cortlandt- Spaces from 2,000 sq.ft. to 20,000 sq.ft. are
available for lease in a 30,000 sq.ft. shopping center being developed on Route 6, just
east of Cortlandt Town Center. In Yonkers- Space is available for
lease in a 43,000 sq.ft. project being developed just south of a new Kohl’s
Shopping Center. In Yorktown Heights- Staples Plaza Shopping Center
is anchored by BJ’s Wholesale Club, Staples, Party City and A.C. Moore.
The project has a 22,500 sq.ft. space available for lease. Ohio Avon Lake- Avon Lake Towne Center is anchored by Finast
and Blockbuster. The 300,000 sq.ft. project has spaces of 1,200 sq.ft., 1,600
sq.ft., 10,000 sq.ft. and 30,000 sq.ft. available for lease. Demographics include a
five-mile population of 53,000 earning $75,000 as the average income. Anchor and outlot
positions will be available for lease in a phase II expansion. Brunswick- Laurel Square is anchored by Quality Farm
& Fleet. The 180,000 sq.ft. project has spaces of 1,000 sq.ft., 3,000 sq.ft.,
4,000 sq.ft., 10,000 sq.ft. and 55,000 sq.ft. available for lease. Demographics include a
three-mile population of 35,000 earning $48,900 as the average income. Cleveland- Memphis Fulton Shopping Center is anchored by
Bi-Rite Grocery, CVS and Video Update. The 113,787 sq.ft. project has spaces
of 1,080 sq.ft., 1,170 sq.ft., 2,800 sq.ft., 3,600 sq.ft. and 9,360 sq.ft. available for
lease. Demographics include a three-mile population of 170,000 earning $34,000 as the
average income. Oklahoma Yukon- Chisholm Center is anchored by Bealls, Stage
Stores, Hastings, Sears and Country General. The 226,000 sq.ft. project has
spaces of 2,000 sq.ft., 6,000 sq.ft. and 25,000 sq.ft. available for lease. Retailers in
the area include a Wal*Mart Supercenter and Walgreens. Pennsylvania Harrisburg- Strawberry Square is a 450,000 sq.ft.
project with spaces of 800 sq.ft., 1,000 sq.ft., 1,500 sq.ft., 2,000 sq.ft. and 6,000
sq.ft. available for lease. Virginia Hampton- Langley Square Shopping Center is a 154,000
sq.ft. project that is being completely renovated. Anchor positions and in-line spaces are
available for lease. Demographics include a four-mile population of 121,801 earning
$40,758 as the average household income. In Virginia Beach- Holland Plaza
Shopping Center has space available for lease in its 141,967 sq.ft. project.
Demographics include a three-mile population of 152,704 earning $45,527 as the average
household income. Richmond- The Libbie Place Shopping Center is anchored
by Target, Blockbuster Video, Kinko’s and Einstein Bagels. The 181,435
sq.ft. project has a 3,000 sq.ft. space available for lease. |