Eastern Mountain Sports Inc.

Eastern Mountain Sports Inc. trades as Eastern Mountain Sports at 75 locations in CO, CT, DE, MA, MD, ME, MN, NH, NJ, NY, PA, VA and VT. The stores, which sell sporting goods and related apparel, occupy spaces of 8,000 sq.ft. in strip centers, power centers, specialty centers, freestanding facilities and downtown storefronts. Plans call for five openings in the coming 18 months. Expansion will take place in IL, MI and the Northeastern region. Preferred demographics include a population of 500,000 within 10 miles earning $60,000 as the average income. Leases running seven years are typical.
For more information, contact John Neppl, Eastern Mountain Sports Inc., 1 Vose Farm Road, Petersborough, NH 03458; 603-924-9571, Fax 924-9138.

Central Tractor Farm & Country, Inc. (515-266-3101), the second largest specialty farming goods retailer in the nation, and Quality Stores, Inc. (616-798-8787), the third largest farm store chain in the nation, recently agreed to a strategic combination to be completed through a cash and stock merger of the two companies. The combination creates the largest specialty farming goods retailer in the nation, with 344 stores in 30 states having total revenues of $1.1 billion. The combined company will be known as Quality Stores and will locate its headquarters in Muskegon, MI and continue to operate stores primarily under the Central Tractor Farm & Country, Country General and Quality Farm & Fleet names. The transaction is expected to be completed during the second quarter. Financing for the cash portion of the merger will be provided by Fleet National Bank, Central Tractor’s current agent bank. Peter J. Solomon Company Limited acted as financial advisor to Quality Stores.

Regis Corporation (612-947-7000) recently signed an agreement to acquire 24 salons that operate under the Heidi trade name and are located in CA, CT, IL, MD, MI, NJ, OH, PA and VA. The acquired salons are expected to generate approximately $26 million in annualized revenues.

BAB Holdings (773-380-6100) plans to acquire Jacobs Bros. Bagels which operates 17 bagel stores in the Chicago, IL market. BAB plans to convert the chain to its Big Apple Bagels concept and co-brand the stores with its other two concepts, My Favorite Muffin and Brewster’s Coffee.

Cherry & Webb (508-399-6000) plans to sell its privately-owned chain to a New York family group headed by Irwin Gindi who sold his interest in Century 21, a small NY department store chain, to acquire Cherry & Webb. The new owners plan to return the women’s apparel chain back to prominence. Cherry & Webb currently operates 44 stores throughout New England selling name-brand apparel, cosmetics and accessories. Sales exceed $110 million annually.

Avado Brands, Inc. (706-342-4552) recently completed the sale of eight Applebee’s Neighborhood Grill & Bar restaurants in the Louisville, KY market for $11.5 million. The sale is part of the company’s plan to divest itself from the Applebee’s brand and so far the company has sold 256 of its 279 Applebee’s units. The only market remaining to be sold is Washington, D.C.

Carlson Restaurants Worldwide (972-450-5400) plans to open two restaurants in downtown Fort Worth, TX by the end of 2000. At least one of the units will be a TGI Friday’s. The company is undecided on what the second unit will be. In addition to TGI Friday’s, the company also operates the Timpano Italian Chophouse, Samba Room, Star Canyon, AquaKnox, Italianni’s, Friday’s Front Row Sports Grill and Friday’s American Bar restaurants.

Office Depot (561-278-4800) plans to open a 27,000 sq.ft. store in Memphis, TN during October.

Price Chopper Supermarkets (518-355-5000) plans to open a 68,800 sq.ft. supermarket in Worcester, MA this year.

Avado Brands (706-342-4552) has revised its proposed restaurant opening plans for 1999 downward to 15 Don Pablo’s rather than the originally planned 30 and only one Canyon Cafe, rather than the eight originally planned. The company is looking to open 60 restaurants next year and 75 units in 2001.

A&W Restaurants, Inc. (609-699-2000) recently signed a franchise agreement with Global Suppliers Limited to open an A&W Restaurant in Bangladesh during September. Four additional units for Bangladesh are planned.

Party City Corp. (973-983-0888) plans to open a store at a former Discovery Zone Fun Center in Appleton, WI this month.

Little Gym International, Inc. (480-948-2878), which operates 111 children’s fitness centers (5 company-owned and 106 franchised) in 32 states and six foreign countries, is looking for franchisees in the Minneapolis-St. Paul, MN market. www.thelittlegymintl.com

Tostino Coffee Roasters Inc. (520-294-5112) recently opened coffee shops inside Wal*Mart Supercenters in Elkhart, Misgawaka and South Bend, IN. Three more stores are expected to open in Wal*Mart Supercenters in Goshen, IN and Aurora and Plano, IL this month. The company’s goal is to be operating 1,000 stores within the coming 10 years, both inside and independent from Wal*Mart stores.

Kmart Corporation (248-643-1000) recently held the "grand" opening of 131 additional refurbished Big Kmart stores bringing the company’s total to 1,376 since the roll-out began in 1996. The recently converted stores represent an investment of approximately $79 million. Kmart plans to convert 455 more stores to the Big Kmart concept this year, representing an additional $227 million investment. The Big Kmart concept focuses on three distinct merchandise businesses: home fashions, children’s department and consumables. Each newly refurbished store brings the Big Kmart Pantry to the front of the store as well.

Blockbuster Entertainment (972-448-7700) recently opened a 4,500 sq.ft. video store at Gateway Plaza in Troy, NY. It marks a return to the area for the company which had a presence in the area through its franchisee NYS Entertainment who went bankrupt and sold the stores to Hollywood Video. Hollywood Video operates nine stores in the Troy market.

A.C. Moore (609-228-6700) plans to open a 20,000 sq.ft. store in North Dartmouth, MA.

Target (612-304-6099) is reportedly being courted to anchor The Courtyard Shopping Center in Jacksonville, FL by Regency Realty Corp. The 134,240 sq.ft. project is 73% leased and currently anchored by an Albertson’s supermarket. Target plans to open stores in Danvers, North Attleboro, Holyoke and Taunton, MA; Salem, NH and Warwick, RI during July and in Concord and Nashua, NH during October. The openings are part of the company’s plan to open as many as 80 stores this year.

Goody’s Family Clothing, Inc. (423-966-2000) recently opened a 30,000 sq.ft. store at East-West Commons Shopping Center in Austell, GA; a 39,000 sq.ft. store at Bradley Park Crossing Shopping Center in Columbus, GA and a 27,900 sq.ft. store at Cofer Crossing Shopping Center in Tucker, GA.

JC Penney (972-431-1000) plans to open a 125,000 sq.ft. department store at the Mall at Stonecrest in Lithonia, GA during 2001. The new store will replace the company’s present location at South DeKalb Mall. A closing date for the South DeKalb store has not been set, but the store is expected to close shortly before the new store opens.

Ackman Ziff Real Estate Group (212-697-3333) recently arranged debt and equity financing in the amount of $36.12 million for two shopping centers totaling 535,841 sq.ft. in NJ. The company also recently arranged debt and equity financing in the amount of $15.15 million for two shopping centers totaling 272,681 sq.ft. in NY. www.ackmanziff.com

Tri-Stone Companies (561-750-9008) recently provided a $42 million in financing to Eckerd, Revco, Rite Aid and Walgreens for 21 stores in FL, ME, MD, NC, OH, SC and VA. The company recently provided permanent financing in the amount of $16.7 million for a portfolio of three shopping centers in AR, AZ and CA. The company recently provided $21 million in a forward commitment loan for Richland Town Center in Richland, PA. The project is anchored by Wal*Mart.

Provident Capital Funding (678-443-9100), a recently formed commercial division of Provident Bank, plans to expand the bank’s focus on commercial real estate loans targeted to small to mid-sized companies. This new operating unit will allow Provident to expand its commercial real estate loan operations nationally and provide new products and services to its existing customer base. Once the loans are originated, they will be sold to a variety of Wall Street firms and institutional investors, which will create additional fee income to Provident. www.provident-bank.com

Buyers & Sellers

Landmark Commercial Real Estate Services has the listing to sell 80+ acres of land fronting State Route 46 in Warren, OH. The site is located near Lowe’s Home Improvement Warehouse.
For more information, contact Michael Camacci at (330-793-8400), Fax (793-5700).

Laramie/Ameris is in the market to acquire "B" class neighborhood retail centers nationwide, exclusive of the West Coast and far northern regions. Preferred properties should be anchored centers with GLAs between 40,000 sq.ft. and 250,000 sq.ft. and be located in primary and secondary MSA’s. The company is particularly interested in properties located in AZ, CO, FL, KS, MO, NM, NC, SC, TN and VA.
For more information, contact David Ash at (817-226-3389), Fax (795-2008).

Mitchell Evans Enterprises has the listing to sell Creek Side Garden in Crested Butte, CO. The property, which is located in the main shopping district, consists of two retail units, one restaurant and one residential unit. The asking price is $349,000.
For more information, contact Mitchell Evans at (970-349-5407), Fax (349-1359).

Inland Real Estate Acquisitions, Inc. is in the market to acquire neighborhood and community shopping centers throughout the Midwestern region.
For more information, contact William Anderson at (630-218-4950), Fax (218-4935).

Marcus & Millichap Real Estate Investment Brokerage Company has the listing to sell a 6,000 sq.ft. freestanding Blockbuster Video store in Temple, TX. The tenant has a 10-year lease with four five-year options. Neighboring tenants include Temple Mall, Wal*Mart and Sam’s Club. The asking price is $900,000.
For more information, contact Mark Roycroft at (512-469-3588), Fax (469-3589).

Syndicated Equities Corporation recently brokered eight transactions totaling $28.7 million. In Houston, TX a $2.37 million sale was consummated for a 10,908 sq.ft. Eckerd Drug store. The property was purchased by a Chicago, IL area family group for the purpose of completing a 1031 Exchange arising from the sale of an income-producing apartment building. In Daytona, FL, a $2.85 million sale was consummated for a 23,500 sq.ft. OfficeMax store. The property was purchased by a CA investor for the purpose of completing a 1031 Exchange. In Nashville, TN a $5.79 million sale was consummated for a 15,680 sq.ft. Walgreens store. The property was purchased by a Chicago investor for the purpose of completing a 1031 Exchange. In Martinez, GA a $1.785 million sale was completed for a 9,504 sq.ft. Eckerd Drug store. The property was purchased by a GA investor for the purpose of completing a 1031 Exchange arising from the sale of vacant land which had been inherited and was sold for development. In North Richland Hills, TX a $3.965 million sale was consummated for a 15,120 sq.ft. Walgreens store. The property was purchased by a real estate firm to complete a 1031 Exchange arising from the sale of several commercial investments. In Novi, MI a $4.88 million sales was completed for a 13,905 sq.ft. Walgreens store. The property was acquired by a Chicago investor to complete a 1031 Exchange arising from the sale of a 100-unit Chicago area residential complex. In Athens, GA a $2.908 million sale was completed for a 10,900 sq.ft. Eckerd Drug store. The site was acquired by an Atlanta investor for the purpose of completing a 1031 Exchange arising from the sale of a family estate. In Federal Heights, CO a $4.16 million sale was completed for a 13,905 sq.ft. Walgreens store. The property was purchased by a family investment group for the purpose of completing a 1031 Exchange arising from the sale of rehabbed properties. The company specializes in identifying and evaluating credit-tenant net leased income properties to meet investor goals and 1031 Exchange guidelines.
For more information, contact Syndicated Equities Corporation at (312-640-9020), home page (www.1031netlease.com).

Investment Realty Resources, Inc. has the listing to sell a 33,400 sq.ft. portion of the 64,000 sq.ft. Laynecrest Plaza in Franklin, OH. The portion for sale is occupied by CVS and local retailers. Approximately 15,000 sq.ft. and an outparcel remain available for lease. The balance of the space is occupied by Marsh Grocery, which is not part of the sale. The asking price is $1.6 million and conventional financing is available.
For more information, contact Juan Murquiz at (513-424-8106), Fax (424-8107), e-mail (jmuzquiz@ccim.net).

Geater Houston Commercial Real Estate has the listing to sell 20 acres of land fronting Rayford Road, just north of Houston, TX. The site is suitable for a shopping center or other commercial uses and has a daily traffic count of 30,000 vehicles. The asking price is $785,000.
For more information, contact John Tatum at (281-367-5549), e-mail (jat@ghrs.com).

Net Leased Investments has the listing to sell a 7-11 in Orlando, FL. The store has a 15-year NNN lease with 12% increases every five years. The asking price is $1.805 million. The company has the listing to sell a second 7-11 in Orlando, FL. The store has a 15-year NNN lease commencing in August. Rent in year one is $154,848. That increases to $165,048 in years two through ten and goes to $173,424 in years 11 through 15. The asking price is $1.822 million. The company also has the listing to sell a 7-11 store in Broward County, FL. The store’s lease has 12% increases every five years. The asking price is $2.57 million.
For more information, contact Bob Fraser at (407-774-7335), home page (www.netleased.com).

Prudential Dunn Realtors has the listing to sell a Heavenly Donuts store in San Diego, CA. The tenant has a seven year lease, which ends in 2002, with a five-year option. The asking price is $255,000. The seller is willing to carry the first mortgage with $30,000 down at 7.75% interest amortized over 40 years.
For more information, contact Ron Fletcher at (619-488-9111), Fax (488-9119).

LBL Acquisitions has the listing to sell 18 NNN fast food restaurants in GA, NC and SC. The lease guarantor is AFC Enterprises. The leases run 10 years, with three five-year options, with rent constant through primary term and option periods. Percent rent clauses are on all the leases. The units were built between 1981 and 1989 and each unit has recently been refurbished at a cost between $350,000 and $450,000. Several of the sites have excess land or other development potential. The units can be purchased separately or as a portfolio and the asking price(s) is based on an 8.5% cap rate on NOI. Prices for individual units range from $648,000 to $1.22 million. The asking price for the entire 18-unit portfolio is $16.96 million.
For more information, contact George Fledge at (805-445-7521), Fax (445-8230).

Kovac Commercial (916-920-8244) leased 30,187 sq.ft. to Ross Stores at Gateway Plaza in Fairfield, CA.

Hiffman Shaffer Associates, Inc. (312-332-3555) leased 1,800 sq.ft. to Score Educational Center at Schaumburg Town Square in Schaumburg, IL.

Grubb & Ellis (847-390-8040) leased 44,540 sq.ft. to Bally Total Fitness at a former Kmart location in Melrose Park, IL.

Told Partners (818-593-3800) leased 23,992 sq.ft. to Pic ‘N Save at a former Sav-On Drugs location at Sylmar Towne Center in Sylmar, CA.

CB Richard Ellis (630-573-7077) leased 15,434 sq.ft. to Goodwill Industries at a former Handy Andy location in Merrionette Park, IL; 13,750 sq.ft. to The Salvation Army at a former Wiseway grocery store in Merrillville, IL and 20,000 sq.ft. to Unique Thrift at Dolton Plaza in Dolton, IL.

Divaris Real Estate, Inc. (757-497-2113) leased 33,604 sq.ft. to Linens ‘n Things in Raleigh, NC; 6,000 sq.ft. to The Mattress Firm in Virginia Beach, VA; 21,600 sq.ft. to Tractor Supply Company at Amelon Square Shopping Center in Madison Heights, VA; 5,500 sq.ft. to Jazzercise at 360 West Shopping Center in Richmond, VA and 25,000 sq.ft. to MARS The Musician’s Planet at CompUSA Marketplace in Salt Lake City, UT.

Collier Lanard & Axilbund (215-925-4600) leased space to Blockbuster Video and SuperCuts at Marketplace at Sinking Springs in Lower Heidelberg, PA.

Konover Management Corporation (860-232-4545) leased 6,431 sq.ft. to Hollywood Video at Waterbury Plaza in Waterbury, CT.

AmCap Properties (303-321-1500) leased 56,984 sq.ft. to Hobby Lobby Stores at Broomfield Plaza in Broomfield, CO.

Courtelis Company (305-379-8467) leased 7,000 sq.ft. to AutoZone at Coral Park Shopping Center in Miami, FL.

The Sansone Group (314-727-6664) leased 13,905 sq.ft. to Walgreens in Springfield, MO; 1,500 sq.ft. to Stride Rite Children’s Shoes and 4,700 sq.ft. to Blockbuster Video at Dierbergs Clocktower Place in St. Louis, MO and 16,380 sq.ft. to Walgreens at South Lakeview Plaza in St. Louis, MO.

Atlantic Realty Companies (703-760-9500) leased 3,610 sq.ft. to Party Land and 3,034 sq.ft. to Sir Speedy at Hunters Woods Village Center in Reston, VA.

Cafaro Company (330-747-2661) leased 1,800 sq.ft. to Hot Topic at Eastwood Mall in Niles, OH.

Tedeschi Realty Corporation (781-871-6900) leased 6,000 sq.ft. to Massive Video at Eastway Plaza in Brockton, MA.

Discovery Zone, Inc. (914-345-4500) recently filed a voluntary petition under Chapter 11 of the Bankruptcy Code. The company decided to seek Chapter 11 protection due to its continuing operating losses and its inability to obtain additional financing for working capital required to sustain the business. In connection with the Chapter 11 proceeding, the company has reached an agreement in principle with Foothill Capital Corporation to increase the company’s borrowing capacity under its existing $12 million credit facility to approximately $15 million. Since February, the company has been pursuing the possibility of a sale or strategic investment and retained Ladenburg, Thalmann & Co. as its investment banker. The company plans to continue to explore these alternatives while operating under Chapter 11 protection.

HomePlace Stores, Inc. (216-328-9500) recently filed its Joint Plan of Reorganization and Disclosure Statement with the bankruptcy court. In March, HomePlace and Waccamaw Corporation announced an agreement under which the two chains will merge under the HomePlace nameplate and create one of the nation’s largest home furnishings retailers with approximately 120 stores in 27 states and annual sales exceeding $600 million. The merger agreement, which is supported by HomePlace’s unsecured creditors’ committee and the boards of directors of both companies, is subject to the approval of the bankruptcy court and will be submitted to a vote of HomePlace’s creditors and equity holders. Upon approval of the plan by the court, the merger is expected to be completed next month.

BlowOut Entertainment (503-331-2729) recently filed for Chapter 11 protection and agreed to a plan to sell its assets to Movie Gallery. In court documents, the company listed assets of $18.4 million and liabilities of $17.2 million. BlowOut’s top unsecured creditors include Valley Media, which is owed nearly $2 million; Wal*Mart, which is owed $1.4 million; Rentrak Corp., which is owed $1.3 million and Universal Studios Home Video, which is owed $200,000. Last November, the company went into default with two secured lenders, which stopped providing the company with funds needed to purchase inventory and pay bills. The lenders are not named as creditors. The company needs bankruptcy court approval before the sale to Movie Gallery can take place.

Back Bay Restaurant Group (617-536-2800) recently completed its plan to convert to private ownership. Back Bay, a public company that traded on Nasdaq, agreed in December to be sold for approximately $38 million to SRC Holdings, a private company. The reason for converting to a private company is that Back Bay, like many other restaurant chains, found it difficult to appease Wall Street investors. The company currently operates 34 restaurants trading as Papa-Razzi, Joe’s American Bar & Grill and Charley’s Eating & Drinking Saloon.

Republic Industries, Inc. (954-769-6000), the nation’s largest automotive retailer, recently changed its name to AutoNation, Inc. The change signals the company’s intent to make the "AutoNation" brand the pre-eminent national retail name in automotive sales, service and rental. With the announcement, the company’s two operating groups will be known as AutoNation Retail Group and AutoNation Rental Group. The company’s used vehicle dealerships will continue to do business as AutoNation USA. Currently, the company operates more than 380 new vehicle franchises in 20 states and 45 AutoNation USA stores in 13 states. Its rental units include Alamo Rent-A-Car, National Car Rental Systems and CarTemps USA. The company’s 1998 revenues totaled $17.5 billion.

Reeds Jewelers, Inc. (910-350-3100) reported that its net sales for its fiscal year increased 6.3% to $109.3 million from $102.8 million during its previous fiscal year. Comparable store sales for the year increased five percent. Diamond sales increased 10.4% for the year and represented 57% of the company’s net sales, compared to 54.9% the previous year. Net income for the year increased 55.3% to $4 million from $2.7 million last year. The company currently operates 106 jewelry stores primarily located in enclosed malls in 15 states.

Frank’s Nursery & Crafts (313-366-8400) plans to drop its craft merchandise from its stores and concentrate on selling lawn and garden products. By clearing out the craft items, the company will free up at least two additional aisles for more floral-themed decorating items, such as plant stands, framed art, candles, outdoor pots and planters. The goal is to turn the financially struggling retailer around by focusing on what the company does best. Plans call for half of the company’s 254 stores to be converted this year with the remaining stores remerchandised next year. The company expects to spend $30 million on the redesign program this year. In addition to the remerchandising, the stores will get fresh paint, new lighting and new ceilings.

Uno Restaurant Corporation (617-323-9200) reported that its second quarter net income increased to $1.5 million from $904,000 during its second quarter last year. Revenues for the quarter increased to $50.3 million from $46.7 million last year. Comparable store sales increased four percent for the quarter, while average unit volumes in the franchise system increased 8.2%. During the quarter, the company opened three restaurants in CA (2) and OH. The company plans to open seven company-owned units and as many as nine franchised units during the remainder of this year. Currently, the company operates and franchises 165 Pizzeria Uno...Chicago Bar & Grill restaurants in 29 states.

Weis Markets (717-286-4571) reported that its first quarter sales increased 9.1% to $496.3 million from $454.7 million during the first quarter last year. Its operating income for the quarter increased 21.8% to $25.9 million. Comparable store sales increased 6.5% for the quarter. Net profits for the quarter were $21.2 million, down from $26.6 million last year. However, last year’s first quarter profit figures included a one-time gain from the sale of AquaPenn Spring Water Co. stock of $8.3 million. As previously announced, the company plans to begin an 18-month program in which it will invest $173.6 million for the construction of 17 stores and the remodel or expansion of 18 others. During the quarter, the company completed the purchase of four Penn Traffic supermarkets located in Northeastern PA. The company expects to open these units during Summer. Four other supermarkets are also under construction. Currently, the company operates 158 supermarkets in MD, NJ, NY, PA, VA and WV. It also owns SuperPetz, a pet supply chain with 34 stores in 11 states.

Pier 1 Imports, Inc. (817-878-8000) reported that its sales for the year increased six percent to $1.14 billion from $1.08 billion during 1997. Comparable store sales increased three percent. Net income for the year increased 17% to $80.4 million from $68.9 million. The company operates more than 800 stores in 47 states, Canada, Puerto Rico, the United Kingdom, Japan and Mexico.

Don M. Casto Organization, Casto Communities and Noble Properties, Inc. recently broke ground on Taylor Square in Reynoldsburg, OH. The 210 acre mixed-use project, located at the northeast quadrant of I-70 and SR-256, will consist of 300,000 sq.ft. of retail space anchored by Wal*Mart and 300 luxury apartments known as Creekside at Taylor Square. Future development will contain entertainment, office, hotel and residential components.
For more information, contact Don M. Casto Organization at (614-228-5331).

The Koman Group plans to develop a $6.5 million shopping center that will span two blocks in downtown East St. Louis, IL. The project will be anchored by a Save-A-Lot grocery store, Blockbuster Video and Walgreens. An insurance office and several local apparel stores will occupy the balance of the space. The city council has agreed to pay $1.8 million to Koman Group to help finance the project. The first $900,000 will go into an escrow account to reimburse construction costs that qualify under the special taxing district rules. The rest of the money will be paid when the center opens during January 2000. The Walgreens store is expected to open this month, and the city has already paid Koman Group $450,000 to help with construction costs.
For more information, contact Jim Koman at (314-993-5800).

Lincoln Plaza Group LLC, an affiliate of Plaza Properties LLC, plans to redevelop Lincoln Plaza in Worcester, MA. The existing 45 acre, 450,000 sq.ft. mixed-use center will be nearly razed to accommodate a 600,000 sq.ft. power center that will be the largest power center in central New England. Located at the intersection of I-290, I-190 and Route 70, the new development will be occupied by approximately 12 category killer big box retailers, a couple of national anchors, restaurants and a nationally recognized health club. Construction is expected to begin late this year and the first new stores are expected to open during Spring 2000.
For more information, contact Sam Adams at (508-754-3255), Fax (754-3256), e-mail (plazasa@ibm.net).

Donahue Schriber plans to break ground during October on Creekside Town Center in Roseville, CA. The 41-acre project, which will be located across from Roseville Regional Mall, is expected to open its first phase during July 2000. The company plans to break ground during Fall on The Plaza at Douglas in Roseville, CA. The 130,000 sq.ft. project will be anchored by Safeway and Orchard Super Hardware. A July 2000 opening is also planned. The company is currently developing Portola Village in Livermore, CA. The 100,000 sq.ft. project will be anchored by Lucky Supermarket, Sav-On Drugs, Blockbuster Video and Panda Express. A December opening is planned. The company plans to begin a $1.7 million redevelopment of Five Points Center in Carmichael, CA later this year. The neighborhood center, located in one of Sacramento’s most affluent neighborhoods and at one of the area’s busiest intersections, will be undergoing a tenant mix enhancement and change of center theme. The company recently completed the development and opened Natomas Marketplace in Sacramento, CA. The 500,000 sq.ft. project is anchored by Wal*Mart, Home Depot, PetsMart, Ross Dress For Less, Staples and Michaels. A 16-screen, 3,000 seat Regal Cinemas is expected to open during Summer. The company has also recently completed the development and opened Raley’s Plaza in Fairfield, CA. The 100,000 sq.ft. project is anchored by Raley’s Food and Drug Center, Blockbuster Video and Starbucks.
For more information, contact Donahue Schriber at (714-854-2100), home page (www.donahueschriber.com).

J.D. Carlisle Development Corp. plans to break ground next month on Town Center at Central Islip in Central Islip, NY. The 267,000 sq.ft. project is expected to be anchored by an 88,000 sq.ft. multiplex theater and a 50,000 sq.ft. supermarket. Both leases are out for approval. The balance of the space will be occupied by retail and restaurant users. The project, located off Southern State Parkway on Carleton Avenue, complements nearly 2.2 million sq.ft. of commercial development on the grounds of the former 684-acre Central Islip psychiatric hospital. Highlights include a new 870,000 sq.ft. Federal Court building; nearly 800,000 sq.ft. of industrial space and the 500,000 sq.ft. Suffolk County Courthouse complex. In addition, construction is underway on a 6,000 seat minor league baseball park. Demographics include a three-mile population of 100,000 earning $62,000 as the median household income.
For more information, contact Gene Spiegelman of Retail Development Partners, the exclusive leasing agent, at (212-752-9100) or David Green of Insignia/ESG, Inc., the development and leasing consultant, at (212-984-8175).

KLNB, Inc. (410-321-0100) exclusively represents Card and Party Giant in the Baltimore, MD-Washington, D.C. market. The company recently opened a 12,000 sq.ft. store at White Flint Plaza in Rockville, MD and plans to open stores at Rolling Valley Mall in Burke, VA and at Frederick Crossing in Frederick, VA. Card and Party Giant plans to open a total of 18 stores in the area. KLNB is currently scouting possible MD locations in Catonsville, Germantown, Glen Burnie, Hunt Valley, Laurel and Towson and VA locations in Bailey’s Crossroads, Fairfax, Reston and Sterling. Founded in 1985, Card and Party Giant currently operates 50 stores in MI, OH and PA. In addition to the Baltimore-Washington area, the company is targeting the Philadelphia, PA market as a major expansion area.

Levin Management Corporation (908-755-2401) has been retained by Fairfield Financial Group to handle the leasing and property management at Playtogs Shopping Plaza in Middletown, NY. The 196,000 sq.ft. project is anchored by Redner’s Markets, Pizza Hut, Ground Round, Blockbuster Video, Willie Carter Golf and Middletown Cinema. Levin Management plans to reposition the shopping center through an aggressive leasing campaign and upgraded maintenance efforts.

Trammell Crow Company (617-577-8887) has been named the exclusive leasing and managing agent for Festival at Hyannis in Hyannis, MA. The 225,000 sq.ft. project is anchored by Star Market, Toys ‘R Us, Bed Bath & Beyond, Pier 1 Imports and Old Country Buffet. Recently, the company leased 20,000 sq.ft. to PetsMart and 6,800 sq.ft. to Outback Steakhouse at the center.

Divaris Real Estate, Inc. (757-497-2113) has been appointed the national real estate consultant by MARS The Musician’s Planet to assist the company in achieving its national strategic growth objectives. Divaris will handle all aspects of MARS’ new store expansion program. Currently, MARS operates 22 stores in 10 states that average 25,000 sq.ft. The company represents Hops Grill & Bar in VA. The restaurants are seeking 6,500 sq.ft. freestanding sites near regional retail/entertainment centers. Preferred demographics include a population of at least 100,000 within five miles. The company represents Wellworth Cleaners in the Newport News, Hampton, Williamsburg, Poquoson, Smithfield and Suffolk, VA markets. The stores are seeking in-line spaces of 1,200 sq.ft. to 1,400 sq.ft. in shopping centers anchored by supermarkets, drug stores and/or video stores. The company represents Zoots The Cleaner Cleaner in the Hampton Roads and metropolitan Richmond, VA markets. The stores are seeking 2,000 sq.ft. spaces with drive-through facilities on corner lots. Former bank and/or fast food restaurants will be considered and preferred anchors include supermarkets. The company also represents Hard Times Cafe in the Olde Town Alexandria and Columbia, MD markets and in Richmond, VA. The restaurants are seeking spaces running 3,600 sq.ft. in freestanding facilities, in-line or end cap spaces. Preferred anchors include supermarkets, discount retailers and video stores.

The Advance Group (908-719-3000) announces the promotion of Thomas Michnewicz to vice president-development. In his new position, Michnewicz will be responsible for development and redevelopment projects within the company’s NJ portfolio. His activities encompass land acquisitions, and approvals, overseeing design and construction management and leasing for both retail and office properties, as well as new business development.

The Shopco Group (212-594-9400) announces that Stephen King has joined the leasing department at Ridgmar Mall in Fort Worth, TX. King’s responsibilities include managing all local leasing for Ridgmar, as the project continues aggressive leasing during its $60 million renovation. Prior to joining Ridgmar, King served as vice president of real estate for Gloria Jeans Coffees and vice president of real estate for Bombay Co., Inc.

Venator Group, Inc. (212-720-3700) announces that Richard Mina has been named president and chief executive officer of Champs Sports, its 640-unit North American sporting goods chain. Mina, formerly the president of Foot Locker Europe, replaces Paul Davies who has resigned. As part of this realignment, Simon Rider has been named to succeed Mina as its new president of Foot Locker Europe. Rider was previously Foot Locker Europe’s chief operating officer.

Blockbuster Inc. (972-448-7700) announces that Larry Zine has been named chief financial officer. Prior to joining Blockbuster, Zine served as president and CFO of Petro Stopping Centers, L.P.

Domino’s Pizza, Inc. (734-665-5500) announces that David Brandon has been named chairman and chief executive officer. He replaces founder Thomas Monaghan, who retired in December after selling his majority interest in the company to Bain Capital. Brandon was most recently chairman, president and CEO of Valassis Communications, Inc., the nation’s leading sales promotion company.

Katherine Kerns Elder, Consultant (215-519-2172) announces the formation of her own retail real estate company. With over 20 years of experience, Elder has established a track record for turning around problem retail projects and for exceeding goals for minority participation. Her work in regional malls and urban redevelopment projects since the mid-1970s has earned her a reputation as a problem-solver.