Issue Number 38
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The Dealmakers Issue Number 38 for the week of October 15, 1999.

I was partially correct when in the last "My Way" I said the Philly show would be good. It was. There were nearly 1,700 attending this year, a better than 10% increase over last year’s show which was eight to nine percent bigger than the prior year, so the event keeps growing. That’s the good news. The bad news is the show was only really active between 10 am and 11:30 a.m., then it died. When I went down at 10 am for my first cigarette break I saw people leaving and when I asked why they were leaving so early, they all replied they came for one or two meetings, had ‘em and there was no reason to hang around. This occurred again at my 11 am cigarette break and again at noon. A high percentage of the attendees only came for specific meetings and after they were held, they left. No networking, no schmoozing; they basically said, "I did my thing, its Friday, so I’m quitting for the weekend." I thought about this all weekend and the only conclusions I could come up with were: 1) the people in the industry are getting lazy after four great years and don’t feel the need to network or bust their butts to make a deal; 2) many are frustrated after offering the same property to the same retailers for the past two to five years and have given up; 3) the industry is starting to slow down and many are living off their past momentum. They know (pray) their deals in progress for the next six to nine months will be done, cash flow or job security is fine for the immediate future, so why worry what will happen in seven to ten months. I think the latter is probably the most accurate. I think there’s a good chance we’re beginning to see the start of the end of the real estate world, at least for awhile. Hopefully it will be a soft landing, not a crash.

As I walked the floor of the show I realized I’ve been seeing some of these centers being marketed for years and while the owner doesn’t have a choice in the matter and has to promote their vacancies, it becomes boring to look at the same center year after year with few additions to the tenant mix. Most of the "better" or "easier" deals that could be done on these projects have been done. It’s all downhill in leasing from here.

I was talking to some of the people from Stuart Makler & Associates and they made an interesting comment. They’ve been trying to get one developer to use their services for over five years and have been unsuccessful, but the owners have had the same vacancies for that period of time and whatever they’re doing isn’t working. While I’m not promoting Stu’s company, if it ain’t working, fix it. Marketing the same vacancies to the same retailers at the same shows doesn’t work, so try something new.

Talking of new, Ann attended the Fun Expo (630-464-6498) in Las Vegas last month, mostly to do research for ESP (Entertainment & Specialty Projects). While she’ll be providing details of the event in the next issue of ESP, one thing she did say I have to report; there were thousands of retailers at the show and only a handful of real estate people. Now in fairness, they weren’t your typical ICSC retailers; they were bowling alleys, golf courses, movie theaters, family entertainment centers roller rink operators and scores of other "ma&pa" tenants. But if you’ve been marketing a center for two, three, four or five years and no one wants it from the traditional herd of retailers, here’s an alternative use and these users don’t want or at least have no idea what a tenant improvement allowance is. They would never think of asking $80 psf in TI. Leasing for the next five years will be getting tougher and we all have to learn how to be more creative and seek out different types of tenants then just those that attend these dealmaking events. Think outside of the lines.

The trend I’ve been noticing of shopping center developers expanding into industrial, office and apartments seems to be continuing, as numerous people in Philly told me of the different types of property they recently acquired. Most are acquiring, not developing, because they’re not confident enough, yet, in their development abilities in other forms of commercial real estate, so they’re "buying" experience. However, that doesn’t mean that shopping centers aren’t wanted. Someone posted on one of our Internet e-mail forums (for details, send e-mail to: Forums@dealmakers.net) that they had 30 shopping centers for sale. Within four hours, over 155 people responded they were interested in receiving a package. Now, I’m sure most are "tire kickers," but with 155 responses, 10 have to be real and one will be a buyer. So shopping centers are still hot, its the price of the center that makes the difference.

I also got the impression from the show that there is a major shortage of leasing people around. At least eight companies came up asking if I knew of anyone "looking." Most wanted someone with two to three years experience (that means they want to pay $60,000 to $75,000), but several were looking for heavy hitters. However, all that were looking for the heavy hitters complained that the most popular salary quoted to them was between $175,000 to $225,000 which they could not justify. One of the candidates they mentioned I knew and I was asked my "opinion." Now this is someone I don’t like (but in fairness, they hate me, so we’re even), but I tried to be objective. The person has 15 years experience and knows what they are talking about; that’s the good news. The bad news is while they know what they’re talking about, they rarely make a deal, they just talk and talking about talk; this is one of those idiots that never returns phone calls, a fact I was more than glad to inform their prospective employer about. After our conversation, it dawned on me; I know a lot of knowledgeable people in retail real estate leasing, but a lot of ‘em don’t seem to be able to close a deal. I wonder why?

The only thing I could think of was ten years ago we hired a really knowledgeable leasing person who had been in the business forever and knew everyone. He understood the lease, the economics of the deal and how to negotiate. That’s the good news. The bad news is in the nine months he was with us he never made a deal. His problem? He never made calls, he literally sat at his desk all day, hands folded, waiting for someone to call him. Since the projects we leased weren’t that good, no one ever called. If you don’t call, they won’t lease.

Ebrtos Inc. trades as Soccer Master at 10 locations in AZ, IL, KS and MO. The stores, selling soccer related apparel, shoes and equipment, occupy spaces of 2,800 sq.ft. to 3,200 sq.ft. in power centers. Plans call for three openings in the coming 18 months. Expansion will take place in AZ, KY, NM, OK and TN. Preferred demographics include a population of 250,000 within five miles earning $45,000 as the average income. Leases running five years are typical.

For more information, contact Emil Brcic, Ebrtos Inc., 1111 G. Horan Drive, Suite G, Fenton, MO 63026; 314-343-0343, Fax 343-1995.

The Fresh Market, Inc. trades as The Fresh Market at 25 locations in FL, GA, NC, SC, TN and VA. The upscale specialty supermarkets occupy spaces of 18,400 sq.ft. in freestanding facilities, power and strip centers. Plans call for eight openings in the coming 18 months. Expansion will take place in AL, FL, KY, OH, TN and VA. Preferred demographics include a population of 100,000 within six to eight miles earning at least $60,000 as the average income. Leases running 10 years are typical.

For more information, contact Tom McLeod, The Fresh Market, Inc., 507 Thomas Bransby, Williamsburg, VA 23185; 757-229-3201, Fax 229-1845.

Winn-Dixie Stores, Inc. trades as Winn-Dixie at 1,200 locations in AL, FL, GA, IN, KY, LA, MS, NC, OH, OK, SC, TN, TX and VA. The supermarkets occupy spaces of at least 40,000 sq.ft. in freestanding facilities and strip centers. Plans call for as many as 110 openings in the coming 18 months. Expansion will take place in the Southeastern region. Preferred demographics include a population of 30,000 within three miles earning $35,000 as the average income. Leases running 20 years are typical.

For more information, contact J.D. Dismuke, Winn-Dixie Stores, Inc., 5050 Edgewood Court, Jacksonville, FL 32254; 904-783-5000, Fax 783-5694.

Fletcher Music Centers, Inc. trades as Fletcher Music Centers at 36 locations in AZ, FL and NC. The music stores, selling musical instruments, occupy spaces of 1,600 sq.ft. to 2,400 sq.ft. in regional malls and strip centers. Preferred anchors include drug stores and supermarkets. Plans call for five openings in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of 75,000 within five miles earning $32,000 as the average income. Leases running five to seven years are typical and the company prefers a vanilla shell.

For more information, contact Dave Fletcher, Fletcher Music Centers, Inc., 3966 Airway Circle, Clearwater, FL 33762; 727-571-1088, Fax 572-4405.

Texas Boot Company does business as Boot Country at 81 locations in AL, CA, FL, GA, IL, IN, KY, LA, MO, MS, PA, SC, TN and VA. The stores, selling Western boots and accessories, occupy spaces of 2,000 sq.ft. to 3,000 sq.ft. in freestanding facilities and outlet centers. Growth opportunities are sought in TN.

For more information, contact Ken Davis, Texas Boot Country, 299 Plus Park, Suite 100, Nashville, TN 37217; 615-254-1158, Fax 254-6970.

Super Sav-on Drugs of America trades as Sav-On Drugs at 18 locations in AL, MS and TN. The drug stores occupy spaces of 1,200 sq.ft. in freestanding facilities. Plans call for 15 openings in the coming 18 months. Expansion will take place in AL and MS. Preferred demographics include a population of 10,000 within five miles earning $30,000 as the average income. Leases running five years, with three options of five years, are typical.

For more information, contact Larry Knotts, Super Sav-On Drugs of America, 106 5th Avenue Northwest, Amory, MS 38821; 601-256-3020, Fax 256-3294.

E-Z Stop Food Marts Inc. trades as E-Z Stop at 17 locations in TN. The convenience stores occupy spaces of 2,500 sq.ft. in freestanding facilities. Plans call for three openings in the coming 18 months. Expansion will take place in eastern TN. Leases running 40 years are typical.

For more information, contact Tommy Hunt, E-Z Stop Food Marts Inc., PO Box 6618, Maryville, TN 37802; 423-977-7070, Fax 982-3271.

Kohl’s Department Stores (414-703-7000) recently opened stores in Fort Worth, Arlington, Carrollton, Cedar Hill, Garland, Lewisville, North Richland Hills, Plano and Rockwall, TX. Additional stores in Flower Mound and Valley Ranch are expected to open next month. In addition, the company is scouting the Metroplex area for additional locations and plans to open more stores during Spring 2000. The openings give the company 257 stores in 24 states.

May Department Stores (314-342-6300) recently opened a Lord & Taylor store at a former Joslins location at Park Meadows Mall in Denver, CO. Lord & Taylor opened 10 stores last year and plans to open five stores this year and as many as five stores next year, including one at FlatIron Crossing which is under construction in Broomfield, CO.

Zany Brainy, Inc. (610-896-1500) recently opened a store in Bridgewater, NJ. It was the chain’s 100th location. In addition, the company recently opened stores in Las Vegas, NV; Snellville, GA; Fresno, CA; Columbia, SC and Park Meadows, CO. Since 1997, the company has increased its store base by more than 100% and plans to open at least 25 new stores next year.

Goodwill Industries of North Central Wisconsin, Inc. (920-233-3897) plans to open a 16,800 sq.ft. store and donation center near Oshkosh Centre II Shopping Center in Oshkosh, WI during January.

Home Depot (770-433-8211) is planning to open a store at Nakoma Plaza in Madison, WI next year.

Stop and Shop (617-380-8000) plans to open a supermarket in Trumbell, CT.

Walgreen’s (847-940-2500) plans to open a 15,120 sq.ft. drug store in Mount Prospect, IL during November and a store in Idaho Falls, ID during March 2000. Recently, the company opened a drug store in Sauk Village, IL and a 13,905 sq.ft. store in Lansing, IL.

Wal*Mart Stores (501-273-4000) recently had its plan to develop a Supercenter in Richardson, TX rejected by the city council. The company needed the land for the store rezoned from apartment to commercial, but concerns over crime, traffic, property values and size of the store were too much to overcome. The company was also rejected by the Manhattan, KS city commission for permission to build a Supercenter. The company has filed a lawsuit appealing the decision saying the commissioners should not have listened to the concerns of neighbors and business owners, but rather should have only applied zoning criteria to its ruling. In other news, the company plans to develop a 135,000 sq.ft. store in Murrieta, CA. The store, which will include a gas station and an option to add an additional 65,000 sq.ft. if the company decides to convert the store to a Supercenter, is expected to open during early 2001. The company is also planning to open a 140,000 sq.ft. Sam’s Club store in Fresno, CA. It will be the first Sam’s Club in the San Joaquin Valley.

BJ’s Wholesale Club (508-872-2100) plans to open a store in Franklin, MA.

Grand Union (973-890-6000) plans to open a 60,000 sq.ft. supermarket at a former Rickels Home Center location in Toms River, NJ during Winter.

Noodle Kidoodle, Inc. (516-677-0500) recently opened an 8,500 sq.ft. store at Bradley Fair in Wichita, KS; a 7,700 sq.ft. store at Dallas Galleria in Dallas, TX and an 8,800 sq.ft. store at Royal Ridge Plaza in Nashua, NH. The company expects to exceed its projections for 15 store openings this year.

Best Buy Company (612-995-7049) plans to open a store in Dedham, MA.

Centro-Mart Inc. (209-465-2706) plans to open a 20,000 sq.ft. grocery store, called Lakewood Apple Marketplace, at a former Landucci’s space in Lodi, CA next month. The company plans to invest more than $1 million in the site, which was built late last year and only open for five months. The store will give the company seven locations in Brentwood, Oakley and Stockton, CA.

Costco (425-313-6360) plans to develop a 135,000 sq.ft. store in East Harlem, NY and is looking to add stores on West 14th Street, West 23rd Street and Orchard Street. The company hopes to achieve saturation by opening one full-size store and a couple of stores that sell only food products. Recently, the company opened stores in Brooklyn, Queens and Staten Island, NY with further expansion in those boroughs being considered.

Longhorns Restaurant (770-551-5432) plans to open a 2,000 sq.ft. restaurant in Fairhaven, MA.

Harris Teeter (704-845-3100) is planning to double its presence in the Atlanta, GA metro market by 2001. Currently, the company operates eight stores in the area, with plans for four more stores next year and two stores in 2001.

Mega Marts Inc. (414-281-2900) plans to develop a 70,000 sq.ft. Pick ‘n Save supermarket in Milwaukee, WI next year.

If all goes as planned, the Philadelphia, PA metropolitan area will see an explosion of growth in the coming few years as several retailers have plans to open stores in the market. Among them are: LA Fitness (714-509-2555) which plans to open a fitness center in Havertown, PA; Great Clips (612-893-9088) which plans to open 200 hair salons, each 900 sq.ft. to 1,200 sq.ft.; Zoots (978-667-6393) which plans to open 10 drycleaning stores annually, up to 70 locations; Turkey Hill Minit Markets (717-299-8908) which plans to open as many as 16 convenience stores and Peebles Department Store (804-447-5414) which operates stores in Kennett Square, PA and Pennsville, NJ, is seeking sites for additional stores.

Equitable Management Corporation represents a client in the market to acquire neighborhood and community centers that have dark anchor positions in the Southeastern region. Rehabs and lease-up situations are also sought.

For more information, contact Leo Wiener at (770-579-6777), Fax (579-6201), e-mail (leoatl@aol.com).

The Wyndam Group, Inc. has the listing to sell a Staples store in Lawton, OK. The store is under construction and expected to open during the fourth quarter. The tenant has a NN lease with a primary term of 15 years at an annual rent of $304,521. The lease also has four five-year options. Landlord responsibilities include roof and structure. The site is adjacent to Sam’s Club and a Wal*Mart Supercenter. The asking price is $3.582 million. The company also has the listing to sell a 7,488 sq.ft. Hollywood Video store in Garland, TX. The tenant has a 15-year NNN lease with two five-year options. Landlord is responsible for roof and structure. The asking price is $1.399 million.

For more information, contact Greg Vinez at (972-661-3120), Fax (239-6298), e-mail (gvinez@wyndam.com).

ICI Realty Services has the listing to sell a 10,908 sq.ft. Eckerd Drug Store in the Winston-Salem/Greensboro, NC market. The tenant has a 20-year NNN lease with four five-year options. The asking price is $2.975 million.

For more information, contact Ray Kaizer at (613-526-9994), e-mail (server1@1031nnnrealty.com).

A&C Ventures has the listing to sell a 42,500 sq.ft. Sports Authority store in St. Petersburg, FL. The tenant has a 20-year NNN lease with rental increases every five years. The site is located across from Wal*Mart and Target. The asking price is $5.35 million and financing is available.

For more information, contact Eric Wilcox at (415-445-7800), Fax (392-2701), e-mail (mailto:ewilcox@a-c.com).

Internet www.dealmakers.net, Inc. has the listing to sell a newly-constructed 54,000 sq.ft. Winn-Dixie anchored shopping center in the Mid-Atlantic region. The asking price is $4.7 million. The company also has the listing to sell a 105,094 sq.ft. Winn-Dixie anchored shopping center in TX. The asking price is $7.6 million.

For more information, contact Joe Navon or Royce Marek at (713-953-2127), Fax (782-0997), e-mail (rmarek@pdq.net), home page (www.realestatebrokerage.com).

Northstar Properties is in the market to acquire grocery-anchored shopping centers in the Northern region.

For more information, contact Fredric Leopold at (212-371-5300), Fax (758-0215).

Southern Management & Development, L.P. has the listing to sell a 7,000 sq.ft. freestanding building on an outparcel of an Albertson’s supermarket-anchored shopping center in Jacksonville, FL. The site was formerly occupied by Blockbuster Video.

For more information, contact Richard Drennan at (561-883-1412), Fax (883-6218).

Inland Retail Real Estate Trust, Inc. is in the market to acquire grocery-anchored shopping centers in FL and GA. In addition, the company is in the market to acquire anchored and shadow-anchored retail centers in IL, IN, IA, KY, OH, MI, MO, MN, WI and northern TN. Large and small centers and single tenant properties will be considered.

For more information on FL and GA sites, contact Steve Sanders or Barry Lazarus at (813-962-6355), Fax (264-4289), e-mail (inlandse@aol.com) and for more information on the Midwest sites, contact Lou Quilici, Joe Cosenza, Karen Kautz or William Anderson at (630-218-8000), Fax (218-4935), e-mail (quilici@inlandgroup.com).

Ziff Properties, Inc. is in the market to acquire multi-tenant retail sites in NC, SC, eastern GA and northern FL. Preferred projects should have value-added opportunities. Properties priced between $1 million and $15 million are also preferred. All cash deals are possible.

For more information, contact Melanie McLamb at (843-724-3412), Fax (724-3400), e-mail (mmclamb@zpi.net), home page (www.zpi.net).

Marcus & Millichap has the listing to sell Southpointe at Town Lake in Woodstock, GA. The non-anchored, 55,255 sq.ft. project is 100% occupied. The asking price is $6.72 million. The company also has the listing to sell Red Oak Village in College Park, GA. The 76,481 sq.ft. project is anchored by Winn-Dixie and Family Dollar. The asking price is $2.625 million.

For more information, contact Thomas Jorgenson at (770-393-1700), Fax (393-1738).

AmNed Properties, Inc. has the listing to sell Central Plaza North in St. Petersburg, FL. The 73,200 sq.ft. project is anchored by Aaron’s, Payless Shoes and Family Dollar. The asking price is $3.5 million. The company also has the listing to sell Fowler Plaza South in Tampa, FL. The 57,173 sq.ft. project is located across from University Mall. The asking price is $6.5 million.

For more information, contact Bob White at (813-960-0335).

The Sterling Companies is in the market to acquire multi-tenant grocery anchored shopping centers in the Southeastern region, with a primary emphasis on FL and south GA. Preferred properties should have GLAs of at least 75,000 sq.ft., have upside potential and be located in areas having a population of at least 100,000 persons.

For more information, contact Christian Johannsen at (561-835-1810), Fax (833-4118), e-mail (cjohannsen@sterlingusa.com).

Selby Realty, Inc. has the listing to sell an 8.1 acre parcel of land at the southeast corner of Commercial Boulevard and Nob Hill Road in Sunrise, FL.

For more information, contact Dwight Selby at (904-238-4456), Fax (238-8377), e-mail (dwightselby@sprintmail.com).

Colliers Appelt Womack, Inc. has the listing to sell a 7,464 sq.ft. strip center in Port Arthur, TX. The project is anchored by Blockbuster, Little Caesar Pizza and Park Ave. Cleaners. The asking price is $1.075 million.

For more information, contact Christopher Winters at (713-830-2106), Fax (830-2118), e-mail (mailto:cwinters@collierstexas.com), home page (www.collierstexas.com).

Bosshardt Realty Services, Inc. has the listing to sell 3.2 acres of land at the intersection of SR 26 and I-75 in Gainesville, FL. The site, which adjoins Sports Authority, is fully approved for a 22,500 sq.ft. building and all parking and stormwater management is in place. The asking price is $1.4 million.

For more information, contact Michael Ryals at (352-371-6100), Fax (375-4227), e-mail (mryals@gnv.fdt.net).

Universal Realty Group has the listing to sell a 100% occupied non-anchored shopping center in west central FL. The asking price is $4 million.

For more information, contact Frank Marino at (813-961-9096).

Waimea Group, Inc. has the listing to sell Frisco Plaza Shopping Center in Frisco, TX. The project consists of two buildings, one is 7,100 sq.ft. and the other is 2,500 sq.ft. The asking price is $650,000.

For more information, contact Bill Boland at (972-377-3512).

Oneiricprods Productions, Inc. has the listing to sell Mullins Shopping Center in Mullins, SC. The 67,780 sq.ft. project is anchored by Dollar General. The company has the listing to sell Belton Plaza in Belton, SC. The 72,000 sq.ft. project is anchored by a vacant Winn-Dixie. The company also has the listing to sell Commerce Plaza in Commerce, GA. The 62,850 sq.ft. project has upside potential.

For more information, contact Stephen Shapiro at (310-745-0620), Fax (745-0821), e-mail (oneiricprods.@mediaone.net).

Schnee Realty represents a client in the market to acquire retail properties in FL. Preferred projects should have large vacancies, dark anchors and/or turnaround situations.

For more information, contact Marvin Schnee at (516-569-4274), Fax (569-4275).

CB Richard Ellis has the listing to sell a 35,000 sq.ft. Bottino’s Supermarket in Washington Township, NJ. The company has the listing to sell the 48,000 sq.ft. Atco Plaza in Atco, NJ.

For more information, contact Kevin McClernon at (610-251-5112), Pat McCabe at (610-251-5122) or George Schmitt at (610-251-5102).

Flynn Group has the listing to sell Douglas Center in Hollywood, FL. The 9,000 sq.ft. strip center, which is under construction, is located adjacent to a new Walgreen Drug Store. The developer is leasing the site to four AAA tenants. The asking price is $2.2 million.

For more information, contact S.M. Schermer at (954-981-7740), Fax (981-7772).

David Cronheim Mortgage Corporation (973-635-6800) recently arranged a permanent financing package of $6.5 million that includes a 10-year term based on a 25-year amortization schedule for the Compo I Shopping Center in Westport, CT. The financing was placed on behalf of the borrower, Westbrook, Incorporated. The 22,705 sq.ft. project is anchored by CVS.

Northland/Marquette Capital Group, Inc. (913-469-5840) recently arranged a $1.445 million loan for an Eckerd drug store in Ocoee, FL. The loan was funded by Protective Life Insurance Company.

Southern Pacific Bank (617-559-0467) is a nationwide financial institution specializing in commercial loans ranging for "A" through "C" borrowers.

Captec Financial Group, Inc. (800-522-7832) recently provided $26.9 million in senior mortgage financing to Quality Dining, Inc. to finance a number of existing Burger King and Chili’s Bar & Grill restaurants. This financing is part of a larger $49 million mortgage financing led by Captec, which Quality Dining utilized to replace short-term variable rate debt with long-term fixed rate financing, while retaining its ownership of valuable real estate assets. www.captec.com

Pinnacle Capital Group (215-564-3600) recently provided $2.36 million in financing for Plaza Americana in Philadelphia, PA. The term of the loan is for 10 years with a 30-year amortization and the interest rate is 8.6%. The company recently provided $28.32 million in financing for Red Rose Commons in PA. The term of the loan is for 10 years with an amortization schedule that calls for two years of interest only and then a 28-year amortization. The interest rate is 7.6%. The company also provided $5 million in refinancing for commercial retail space in Philadelphia, PA. The term is for 8.5 years with a 17-year amortization.

Just For Feet, Inc. (205-408-3000) recently completed a new senior credit facility of $175 million and a revised senior credit facility of $40 million, for a total of $215 million. The two-year $175 million senior secured revolving credit facility is provided by a syndicate of banks, led by Bank of America through its business credit group. This revolving facility, which is secured by substantially all of the assets of the company and its domestic subsidiaries, will permit borrowings of up to the lesser of $175 million or a calculated borrowing base that is a percentage of eligible inventory. The two-year $40 million senior secured loan is provided by the company’s existing bank group, led by Bank of America, is guaranteed by the company’s domestic subsidiaries and is secured by a second lien on accounts receivable, inventory, all of the stock of the company’s domestic subsidiaries and 66 2/3% of the stock of the company’s foreign subsidiary. These facilities replace the company’s former $200 million revolving credit facility, under which $166 million was outstanding. The company believes that the funds available to it under these facilities, along with cash on hand and internally generated funds, will provide adequate liquidity through the end of its current fiscal year. www.feet.com

CBL & Associates Properties, Inc. plans to develop Stoney Brook Landing in Louisville, KY. The 82,263 sq.ft. project will be anchored by a 46,800 sq.ft. Dick’s Sporting Goods store. Space for two additional anchors will also be constructed. A March 2001 opening is planned. The company also plans to expand the 820,000 sq.ft. Asheville Mall in Asheville, NC. Plans call for the addition of approximately 88,000 sq.ft. of small shops, including a new food court, and the expansion of the existing Belk department store. The project is expected to be completed during November 2000.

For more information, contact CBL & Associates, Inc. at (423-855-0001), e-mail (info@cblproperties.com).

Halpern Enterprises, Inc. is currently redeveloping West Ridge Shopping Center in Atlanta, GA. The expanded project will be anchored by a 58,075 sq.ft. Winn-Dixie Marketplace, the largest Winn-Dixie store in the metro Atlanta area. Construction is expected to be completed by Spring of 2000, bringing the project’s total GLA to 170,467 sq.ft. All existing stores will remain open during the redevelopment and the center will have space available for additional small shop tenants and big box users. Construction is expected to be completed by Spring 2000. The company is also redeveloping Cypress Mill Square, formerly Brunswick Mall, in Brunswick, GA, converting the enclosed mall into an open-air center. Mall entrances have been reconfigured so that stores can remain open during all phases of construction. Cypress Mill Square will be anchored by an expanded 66,000 sq.ft. Winn-Dixie Marketplace, West Super Store and Big Lots. New retail spaces, ranging from 1,500 sq.ft. to 8,000 sq.ft., will be ready for occupancy before the holiday season. The back portion of what was formerly the mall will be converted to office space.

For more information, contact Marion Farrar at (770-508-3313).

Courtelis Company plans to develop The Prado at Spring Creek in Bonita Springs, FL. Located on the southeast corner of U.S. 41 and Pelican’s Nest Drive, the 170,000 sq.ft. project will be anchored by a 12-screen, 44,200 sq.ft. Regal Cinema and a 15,000 sq.ft. bookstore. Space for a 20,275 sq.ft. anchor store will also be developed. The site is located near the entrance to both of Bonita Springs’ premiere residential communities, Pelican Landing and Bonita Bay, which will feature more than 8,600 units when completed.

For more information, contact Courtelis Company at (305-379-8467), Fax (381-7875).

Audubon Land Development Corp. plans to develop The Marketplace at Oaks in Oaks, PA. The project, which is located near the Oaks exit of Rt. 422, will be anchored by a 163,268 sq.ft. Lowe’s Home Improvement Warehouse, a 126,000 sq.ft. Target store and Regal Cinema multi-plex movie theater. An additional 187,000 sq.ft. of retail space will also be developed. Demographics include a five-mile population of 102,342 earning $69,254 as the average household income. The company also plans to develop Ephrata Crossings in Ephrata, PA. The 670,000 sq.ft. project is expected to be anchored by a 177,000 sq.ft. home improvement store, a 125,000 sq.ft. department store, a 109,000 sq.ft. wholesale club and a 12-screen, 55,000 sq.ft. movie theater. Space for an additional 203,000 sq.ft. of retailers will also be developed. Five pad sites will front the development on U.S. 322. The site is located across from a 220,000 sq.ft. Wal*Mart Supercenter. The company plans to break ground during May 2000 on Oaks Shopping Center in Oaks, PA. The project, located between the intersections of Egypt Road and Black Rock Road and Egypt Road and Mill Road, will contain 90,000 sq.ft. of space divided into three spaces of 53,150 sq.ft., 15,000 sq.ft. and 14,000 sq.ft. Two outparcels will front the site. Demographics include a five-mile population of 135,150 earning $67,942 as the average household income.

For more information, contact Audubon Land Development Corp. at (610-631-0670), Fax (631-1953).

Blum, Frank & Kamins Companies, Inc. and The Rappaport Companies plan to develop Crossroads of Warrenton in Warrenton, VA. The 346,100 sq.ft. project is expected to be anchored by a supermarket, department store and a home improvement retailer. The center, which has access to Routes 29, 15 and 17 and to the Warrenton Bypass, is the first shopping center serving Warrenton on the "going home" side from Washington, D.C.

For more information, contact The Rappaport Companies at (703-205-6440), e-mail (info@rappaportco.com), home page (www.rappaportco.com).

Marks & Spencer plc (201-575-3320) plans to sell its Kings Super Markets, Inc. chain while retaining and developing its Brooks Brothers chain, both in the U.S. and internationally. The company’s review recognized that the Kings Super Market business, although profitable, did not fit with its international strategy. Kings operates 25 locations in NJ and has potential for growth. Brooks Brothers operates 148 stores nationwide with 71 in Japan and six in Hong Kong and Taiwan.

The Hang Up Shoppes (317-337-2121) recently acquired eight former J. Riggins stores in OH, MO, IL and IN from Edison Brothers. Included in the acquisition will be the company’s first stores in the Cincinnati and Columbus, OH and St. Louis, MO markets. The company plans to convert all of the stores to its Man Alive format and the acquisition gives the company 38 stores in five states. In addition, the company plans to open as many as six stores annually for the foreseeable future.

Elder-Beerman Stores Corp. (937-296-2700) recently reached an agreement to sell its 55-unit Bee-Gee Shoe Corp. to a business group formed by Albertine Industries and Ark Capital. Terms of the sale were not disclosed.

Checkers Drive-In Restaurants, Inc. (727-519-2000) recently signed a letter of intent with Great Lakes Restaurant Company, LLC to sell and franchise 37 Rally’s Restaurants in the Detroit, MI market and six Checkers Restaurants in the Kansas City market for $15.8 million less sales commissions to National Franchise Sales and other closing costs. Checkers plans to sell the restaurants, enter into a standard franchise agreement with respect to the restaurants and enter into an area development agreement which requires the development of a number of new Checkers and Rally’s restaurants. In addition to the sales proceeds, the company will receive continuing royalty revenues from the franchisee equal to four percent of the restaurant’s sales. The company intends to use the net proceeds from the sale to reduce existing debt. Upon closing, Great Lakes Restaurant Company and its affiliate, the Midland Food Services Group, will own and operate 162 quick serve restaurants, including 119 Pizza Hut units.

Marcus Corp. (414-272-6020) plans to sell its 30 Kentucky Fried Chicken restaurants and exit the restaurant business. Twenty-nine of the units are being sold to QSR Inc. and one to an executive of its restaurant division. Terms were not disclosed. At one time, the company operatd 104 restaurants. The company decided to sell its remaining units because it found it difficult to expand its KFC business. The company plans to use the proceeds from the sale to expand its theater and lodging chains and continue buying back its company stock.

Gordon Brothers Group (617-426-3233) announces that Mervyn Weich has joined the company as a managing director. Weich, formerly a principal of Weich-Bilotti, has been working with Gordon Brothers on a collaborative basis since 1995. Prior to the that time, he founded several businesses, including BJ’s Wholesale Club, and, while working with venture capital companies, has served as chairman of the board and interim CEO for client companies during their reorganization periods.

Z-Teca Restaurant Corporation (303-806-9500) recently named Bruce Boxer vice president of real estate and development. Prior to joining Z-Teca, Boxer served as vice president of real estate, design and construction for Rock Bottom Restaurants where he was responsible for new site development, construction, facilities management, as well as directing the design team process for cost-effective plan development. Boxer has also served as real estate manager for Briazz, Boston Chicken and Burger King.

Retail Real Estate Group (813-908-5536) was recently formed by Alvin Ronald Olden. The company will specialize in leasing, tenant representation, dispositions and investment sales while providing its services to retailers, developers, investors, financial institutions, REITs and owners/builders.

Levey, Miller, Maretz & Proto (203-389-5377) leased 12,000 sq.ft. to Rite Aid in Mt. Kisco, NY; space to McDonald’s at Kohl’s Shopping Center in Derby, CT; 2,400 sq.ft. to Taco Bell at Narragansett Park Plaza in Pawtucket, RI and 1,500 sq.ft. to Papa John’s Pizza at Waterbury Plaza in Waterbury, CT.

Henry S. Miller Commercial (214-559-2740) leased 8,640 sq.ft. to Sam’s $1 Store at Square 67 Shopping Center in Dallas, TX; 5,000 sq.ft. to Hollywood Video at Plaza Rios Shopping Center in Dallas, TX; 5,000 sq.ft. to Hollywood Video at Coppell Town Center in Coppell, TX and 4,500 sq.ft. to Hollywood Video at The Market at Valley Parkway in Lewisville, TX.

The Goldstein Group (201-703-9700) leased space to H&R Block at Lackawanna Plaza in Montclair, NJ; Leather Warehouse in Paramus, NJ; Party Land at Midland Park Shopping Center in Midland Park, NJ; Bellini at Abill Plaza in Totowa, NJ; Poggen Pohl in Paramus, NJ; Can Do at Point View Shopping Center in Wayne, NJ; Postnet at Riverfront Shopping Center in Hackensack, NJ and LA Weight Loss Centers at Acme Plaza Shopping Center in Secaucus, NJ.

The Cafaro Company (330-747-2661) leased 25,391 sq.ft. to Old Navy at Eastwood Mall in Niles, OH; 18,849 sq.ft. to Old Navy at Governor’s Square Mall in Clarksville, TN; 19,816 sq.ft. to Old Navy and 1,323 sq.ft. to Fred Meyer Jewelers at Huntington Mall in Barboursville, WV; 22,656 sq.ft. to Old Navy and 1,521 sq.ft. to Meadowbrook Mall in Bridgeport, WV; 22,791 sq.ft. to Old Navy and 5,202 sq.ft. to Jay’s Gold Crown Hallmark Store at Ohio Valley Mall in St. Clairsville, OH; 8,939 sq.ft. to The Gap and 1,925 sq.ft. to Hot Topic at Kentucky Oaks Mall in Paducah, KY; 1,085 sq.ft. to Thomas Kinkade Signature Gallery in Puyallup, WA; 1,750 sq.ft. to J.B. Robinson at Southland Mall in Marion, OH and 1,550 sq.ft. to Fred Meyer Jewelers at Spotsylvania Mall in Fredericksburg, VA.

Sansone Group (314-727-6664) leased 1.31 acres to Dobbs Tire & Auto and 1,600 sq.ft. to Quizno’s Classic Subs and 1,223 sq.ft. to Great Clips at Dierbergs Fenton Crossing in Fenton, MO.

CB Richard Ellis (847-948-5510) leased 11,795 sq.ft. to Gateway Country at Woodfield Commons in Schaumburg, IL; 8,006 sq.ft. to Gateway Country at Orland Park Place in Orland Park, IL; 5,986 sq.ft. to Total Body Solutions at The Crossroads Shopping Center in Highland Park, IL; 3,000 sq.ft. to Duron Paint at Park Hill Shopping Center in Orland Park, IL; 3,000 sq.ft. to JG Electronics at River Valley Square in East Dundee, IL; 1,200 sq.ft. to Picture Framed It at The Center At Lake in The Hills in Lake In The Hills, IL and 1,984 sq.ft. to Disc Replay at Merrillville Plaza in Merrillville, IN.

Maxwell Properties (407-645-1256) leased 1,727 sq.ft. to Starbucks Coffee, 1,985 sq.ft. to Tan USA and 1,510 sq.ft. to Fortunato’s Deli at Gateway Crossings Shopping Center in St. Petersburg, FL; 3,000 sq.ft. to Frayne Fashions and 3,572 sq.ft. to Martial Arts Group at Tyrone Gardens Shopping Center in St. Petersburg, FL; 1,400 sq.ft. to Fantastic Sam’s at Village Marketplace in Orange City, FL and 1,496 sq.ft. to Weight Watchers at Red Willow Plaza in Orlando, FL.

H&R Retail (301-656-3030) leased 8,628 sq.ft. to Dress Barn at Kentlands Market Square in Gaithersburg, MD; 5,500 sq.ft. to Famous Footwear at Winchester Commons in Winchester, VA; 5,000 sq.ft. to Athlete’s Foot at Parc City Shopping Center in Sterling, VA; 3,772 sq.ft. to 99 Cents Store at Senator Square Shopping Center in Washington, D.C.; 2,500 sq.ft. to Once Upon A Child at Turnpike Shopping Center in Fairfax, VA and 1,980 sq.ft. to Dollar Store at Church Square in Baltimore, MD.

Breslin Realty Development Corp. (516-741-7400) leased space to Rockaway Bedding at The Great South Bay Shopping Center in West Babylon, NY; Parkway Plaza in Carle Place, NY; Deer Cross Shopping Center in Deer Park, NY; Bay Harbour Mall in Lawrence, NY; Springfield Market in Queens, NY; in West Hempstead, NY and in the Bronx, NY.

Kranzco Realty Trust (610-941-9292) leased 36,000 sq.ft. to Stein Mart at Park Centre in Columbia, SC.

Statler Restaurant Partners does business as Bridgetown Grill at five locations in GA. The restaurants, serving Caribbean, Cuban and Jamaican cuisine, occupy spaces of 6,500 sq.ft. to 8,000 sq.ft. in freestanding facilities and end caps of strip centers. Growth opportunities are sought in the Atlanta, GA market.

For more information, contact Greg Vojnovic, Statler Restaurant Partners, 689 Peachtree Street, Atlanta, GA 30308; 404-873-5361, Fax 873-6615.

Papa’s Pizza To Go, Inc. trades as Papa’s Pizza To Go at 90 locations in AL, GA, MS, NC, SC and TN. The pizza restaurants occupy spaces of 1,400 sq.ft. to 2,000 sq.ft. in downtown store fronts and strip centers. Preferred co-tenants include supermarkets and video stores. Plans call for 12 openings in the coming 18 months. Expansion will take place in AL, GA, NC, SC and TN. Preferred demographics include a population of 12,000 within five miles earning $32,000 as the average income. Leases running 10 years are typical and the company is franchising.

For more information, contact Mark Cairns, Papa’s Pizza To Go, Inc., 4465 Commercial Drive #101, Buford, GA 30518; 770-614-6676, Fax 614-9095.

Roadhouse Grill, Inc. trades as Roadhouse Grill at 60 locations in FL, GA, LA, MS, NC, NY, OH and SC. The steakhouses occupy spaces of 7,500 sq.ft. in freestanding facilities, power centers and regional malls. Preferred anchors include Home Depot and Lowe’s. Plans call for 30 openings in the coming 18 months. Expansion will take place in FL, GA, IN, MI, NC, NY, OH, PA, SC and VA. Preferred demographics include a population of 100,000 within three miles earning $40,000 as the average income. Leases running 13 years, with options, are typical.

For more information, contact Mick Owens, Roadhouse Grill, Inc., 6600 Andrews Avenue #160, Fort Lauderdale, FL 33309-2134; 954-489-9699, Fax 489-1485, e-mail khornstra@roadhousegrill.com.

Spinnaker’s Restaurants, Inc. trades as Spinnaker’s at 10 locations in CO, GA, MD, NC, OH, SC, TN and VA. The casual restaurants occupy spaces of 5,000 sq.ft. in freestanding facilities, power centers and regional malls. Plans call for two openings in the coming 18 months. Expansion will take place in NC, SC and VA.

For more information, contact Terry Murray, Spinnaker’s Restaurants, Inc., 5211 Maryland Way #2020, Brentwood, TN 37027; 615-370-0081, Fax 371-5320.

Pretzels Plus, Inc. trades as Pretzels Plus at 25 locations in GA, KY, MD, NH, NC, PA, SC, TN and VA. The stores, selling hand-rolled pretzels, occupy spaces of 600 sq.ft. to 1,000 sq.ft. in regional malls. Growth opportunities are sought in GA, KY, NC, PA and VA. Preferred demographics include a population of 50,000 within five miles earning $45,000 as the average income. Leases running five years are typical and the company is franchising.

For more information, contact Alan Harbaugh, Pretzels Plus, Inc., 639 Frederick Street, Hanover, PA 17331; 800-559-7927, Fax 717-633-5078, e-mail pretzelsplus@pretzelsplus.com; www.pretzelsplus.com.

Kelly Walker

c/o Tony Walker Consultants

1955 Wehrle Drive

Williamsville, NY 14221

800-600-5620, Fax 716-636-3252

The 75-unit chain operates locations in AZ, CA, CT, FL, GA, IL, MA, MI, NM, NY, NC, OH, OR, PA, RI, SC, TX, VA, Washington, D.C. and Canada. The stores, selling t-shirts and jeans, occupy spaces of 500 sq.ft. to 800 sq.ft. in regional malls. Plans call for 30 openings in the coming 18 months. Expansion will take place nationwide.

Farid Rahimi

1422 H Street

Washington, D.C. 20005

202-783-2600, Fax 638-5154

The 15-unit chain operates locations in MD, VA and Washington, D.C. The stores, selling women’s apparel at the fixed price-point of $10, occupy spaces of 10,000 sq.ft. to 20,000 sq.ft. in freestanding facilities and strip centers. Plans call for as many as eight openings in the coming 18 months. Expansion will take place in the existing markets.

dba Sagesport

Corky Fulton

815 Floyd Street

Kings Mountain, NC 28086

704-739-2366, Fax 739-7059

e-mail: corkyf@sagesport.com

home page: www.sagesport.com

The eight-unit chain operates locations in NC and SC. The stores, selling athletic apparel and footwear, occupy spaces of 2,800 sq.ft. to 3,600 sq.ft. in regional malls, power and strip centers. Preferred anchors include Belk and Wal*Mart. Plans call for one opening in the coming 18 months. Expansion will take place within the existing markets. Leases running three to five years are typical.

dba Susie’s Deals

Gail Jeffery

1115 John Reed Court

City of Industry, CA 91745

626-369-9881, Fax 961-4228

The 51-unit chain operates locations in AZ, CA and NV. The family apparel stores occupy spaces of 3,500 sq.ft. to 5,000 sq.ft. in power and strip centers. Preferred anchors include Kmart, Target, Wal*Mart, supermarkets and drug stores. Plans call for 15 openings in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of 80,000 to 100,000 within three miles earning $30,000 as the average income. Leases running five years, with two options of five years each, are typical.

dba 4M Fashions

Mike Atallah

1408 Atlantic Avenue

Atlantic City, NJ 08401

609-345-2814, Fax 345-7889

The nine-unit chain operates locations in NJ and NY. The stores, which cater to an African American and Hispanic clientele, occupy spaces of 2,800 sq.ft. to 3,000 sq.ft. in downtown store fronts. Growth opportunities are sought in GA, NJ, NY and NC. Leases running three to five years are typical.

dba Expressway Lube Centers

Steven Chance

200 Connecticut Avenue

Norwalk, CT 06854

203-838-8118, Fax 838-7852

The 16-unit chain operates locations in CT and NY. The automotive service centers, which offer quick oil changes, occupy spaces of 10,000 sq.ft. to 20,000 sq.ft. in freestanding facilities. Growth opportunities are sought in the CT, MA, NJ, NY and RI. Leases running 35 years are typical.

dba Hallmark Gold Crown

Ken Smith

2501 McGee

Kansas City, MO 64108

816-274-5344, Fax 274-3708

The 6,000-unit chain operates locations nationwide. The card and gift stores occupy spaces of 3,500 sq.ft. to 7,000 sq.ft. in downtown store fronts, freestanding facilities, regional malls, power and strip centers. Growth opportunities are sought nationwide.

dba Brand Names Sales

Gary Smith

670 Young Street

Tonawanda, NY 14150

716-693-2511, Fax 693-2161

The 12-unit chain operates locations in NY. The catalog showrooms occupy spaces of 22,000 sq.ft. in freestanding facilities and strip centers. Growth opportunities are sought in the existing market.

dba Kiddie Academy Child Care Learning

108 Wheel Road, Suite 200

Bel Air, MD 21025

410-515-0788, Fax 569-2729

home page: www.kiddieacademy.com

The 53-unit chain operates locations in CA, DE, IL, IN, MD, MI, NJ, NY, PA, TX and VA. The childcare centers occupy spaces of 7,500 sq.ft. to 12,500 sq.ft. in freestanding facilities and strip centers. Plans call for 10 openings in the coming 18 months. Expansion will take place in FL, VA and WV.

dba Colonel’s Pantry

James Salmon

104 Mull Street

Morganton, NC 28655-3343

828-437-8000, Fax 437-8324

The nine-unit chain operates locations in NC. The convenience stores occupy spaces of 2,400 sq.ft. in freestanding facilities. Plans call for as many as two openings in the coming 18 months. Expansion will take place in the existing market. Leases running 20 years are typical.

Norm Plotkin

4000 Ruffin Road

San Diego, CA 92123

858-637-4126, Fax 637-4188

The 180-unit chain operates locations in AZ, CA, NM, NV, OR, TX and WA. The stores, selling family apparel and home goods at discount price-points, occupy spaces of 15,000 sq.ft. to 18,000 sq.ft. in power and strip centers. Plans call for 50 openings in the coming 18 months. Expansion will take place in the existing markets. Leases running five years are typical.

dba The Wiz

Craig Letts

25 South Main Street

Edison, NJ 08837

732-767-9333, Fax 767-9585

The 40-unit chain operates locations in CT, NJ and NY. The consumer electronics stores occupy spaces of 20,000 sq.ft. to 40,000 sq.ft. in freestanding facilities, power and strip centers. Preferred anchors include Home Depot, Target and movie theaters. Plans call for six openings in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of 100,000 within five miles earning $50,000 as the average income. Leases running 10 years are typical and the company cites Circuit City, Tops, PC Richards and 6th Avenue Electronics as competition.

Jeff Tunnell

4219 Irving

Wichita, KS 67209

316-942-7411, Fax 942-7416

The seven-unit chain operates locations in AL, GA, PA and WV. The concept, offering carousels and amusement rides for children, occupies spaces of 1,200 sq.ft. in regional malls, entertainment and outlet centers. Plans call for as many as six openings in the coming 18 months. Expansion will take place in the Southeastern region. Leases running five years are typical.

Mike Shanahan

c/o Michael Antkies Real Estate

29 Sugar Hollow Road

Danbury, CT 06810

203-798-7766, Fax 798-6340

e-mail: mshanahan@antkies.com

The six-unit chain operates locations in CT, MA and NH. The concept, offering billiard tables, food and a bar, occupies spaces of 12,000 sq.ft. to 15,000 sq.ft. in freestanding facilities, entertainment and strip centers. Growth opportunities are sought in CT, NH, NJ, NY and RI. Preferred demographics include a population of 350,000 to 400,000 within 10 miles. Leases running 15 years, with two options of five years, are typical.

dba Healthworks

Mike Harrington

441 Stuart Street, 4th Floor

Boston, MA 02116

617-859-8700, Fax 859-5821

The four-unit chain operates locations in MA. The health clubs occupy spaces of 35,000 sq.ft. in regional malls. Plans call for two openings in the coming 18 months. Expansion will take place in the existing market.

dba Beauty Bar

Daniel Coniglio

PO Box 600

Pottsville, PA 17901

570-429-1800, Fax 429-1143

The five-unit chain operates locations in MD, NJ, PA and WV. The hair salons occupy spaces of 1,500 sq.ft. to 2,000 sq.ft. in regional malls. Plans call for five openings in the coming 18 months. Expansion will take place in the existing markets. Leases running 10 years are typical.

dba Verlo Mattress Factory Store

Patrick Conley

W3130 State Road 59

Whitewater, WI 53190

414-473-8957, Fax 473-4623

e-mail: pconley@verlo.com

home page: www.verlo.com

The 65-unit chain operates locations in CO, FL, GA, IL, IN, MN, MO and WI. The stores, selling mattresses, bed frames and accessories, occupy spaces of 2,500 sq.ft. to 10,000 sq.ft. in freestanding facilities and strip centers. Preferred co-tenants include Pier 1 Imports, Ethan Allen and Norwalk Furniture. Plans call for 10 openings in the coming 18 months. Expansion will take place in IA, IN, KS, KY, MI, OH and PA. Leases running five years, with two options of five years each, are typical and the company is franchising.

dba Norfolk Paint Co.

Nick Wright

1373 Ingleside Road

Norfolk, VA 23502

757-853-4371, Fax 853-6838

The eight-unit chain operates locations in VA. The stores, selling paints, wall coverings, window treatments and carpeting, occupy spaces of 4,000 sq.ft. to 5,000 sq.ft. in freestanding facilities and strip centers. Plans call for two openings in the coming 18 months. Expansion will take place in the Norfolk, VA market.

dba Warehouse Shoe Sale

Gary Mahler

c/o Mahler & Company

P.O. Box 1379

Beverly Hills, CA 90213

310-288-0055, Fax 288-0065

The 24-unit chain operates locations in CA. The stores, selling athletic shoes and work boots, occupy spaces of 6,000 sq.ft. to 9,000 sq.ft. in downtown store fronts, freestanding facilities, power and strip centers. Plans call for 12 openings in the coming 18 months. Expansion will take place in Southern CA. Preferred demographics include a population of 150,000 within three miles earning $35,000 as the average income. Leases running five to ten years are typical.

dba Battaglia, Battaglia Outdoors, Balizza

Barry Hanna

14951 South Dixie Highway

Miami, FL 33176

305-252-7463, Fax 255-9386

e-mail: worldclassfootwear@juno.com

The 18-unit chain operates locations in FL. The shoe stores occupy spaces of 1,600 sq.ft. to 3,000 sq.ft. in freestanding facilities, regional malls and specialty centers. Plans call for three openings in the coming 18 months. Expansion will take place in the Sunbelt States. Leases running seven years are typical and the company is franchising.

dba Camping World

Tom Walker

3 Springs Road

Bowling Green, KY 42102

502-781-2718, Fax 781-2775

The 30-unit chain operates locations in AZ, CA, CO, FL, IL, KY, MI, NV, NJ, OH, OR, SC, TN, TX, WA and Washington, D.C. The stores, selling camping and RV accessories, occupy spaces of 25,000 sq.ft. in freestanding facilities. Plans call for three openings in the coming 18 months. Expansion will take place in MA and TX. Preferred demographics include a population of 600,000 within 30 miles earning $50,000 as the average income. Leases running 15 years are typical.

dba Gooding’s

Don Jones

2349 Apopka Boulevard

Apopka, FL 32703

407-889-9000, Fax 886-9692

The 13-unit chain operates locations in central FL. The supermarkets occupy spaces or 48,000 sq.ft. in strip centers. Plans call for one opening in the coming 18 months. Expansion will take place in the existing market. Leases running 20 years are typical and the company prefers a vanilla shell.

dba Liberty Travel

Richard David

69 Spring Street

Ramsey, NJ 07446

201-934-3615, Fax 934-3678

The 197-unit chain operates locations in CT, DE, FL, MA, NH, NJ, NY, PA and RI. The travel agencies occupy spaces of 1,200 sq.ft. to 1,500 sq.ft. in freestanding facilities, regional malls and strip centers. Plans call for as many as 18 openings in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of 100,000 within five miles earning $45,000 as the average income.

Just For Feet Inc. (205-408-3000) recently identified $20 million in additional inventory, placed a moratorium on new store leases and expects to post a net loss for its fiscal year. The company has also reduced the number of superstores it expects to open this year to 19 from 25 and has reduced the number of specialty stores it plans to open to 37 from 60. So far, the company has opened 17 superstores and 36 specialty stores. Starting late last year, the company has been experiencing operational and marketing problems. Through May, it had identified more than $50 million in excess inventory at its specialty stores alone. During Summer, it returned $9.9 million in inventory to vendors, liquidated $10.2 million worth of product and transferred another $21.1 million in inventory to its superstores. In doing so, the company cut back orders for new merchandise. In August, the company posted a second quarter loss of $25.9 million compared to net income of $8 million during the second quarter in the previous year. www.feet.com

Pier 1 Imports, Inc. (817-878-8000) reported that its second quarter sales increased 3.7% to $291.8 million from $281.5 million during the second quarter last year. Comparable store sales fell 1.8% for the quarter. Net income for the quarter slipped to $11.9 million from $17.5 million last year. During the quarter, the company opened 13 stores and closed five and has plans to open 31 stores and close three before the end of the year.

The Dress Barn, Inc. (914-369-4600) reported that its fiscal year net earnings fell 17% to $33.3 million from $40.2 million during its previous fiscal year. Net sales for the year increased three percent to $616 million form $598.2 million with comparable stores down four percent for the year. At the end of its fiscal year, the company operated 674 stores nationwide.

Discount Auto Parts, Inc. (941-284-2010) reported that its first quarter total sales increased 16.7% to $143.6 million from $123 million during its first quarter last year. Comparable store sales increased one percent for the quarter. Gross profit for the first quarter increased 18.4% to $58.4 million from $49.3 million last year. As a percentage of sales, gross profit was 40.7% this year, compared to 40.1% last year. Income from operations during the quarter was $14.7 million, up slightly from $14.3 million last year. During the quarter, the company opened 22 stores and currently operates 580 locations. For fiscal 2000, the company plans to open as many as 90 stores.

Circuit City Stores, Inc. (804-527-4000) reported that its second quarter total sales increased 17% to $2.96 billion from $2.52 billion during its second quarter last year. Earnings from continuing operations increased 73% to $74.5 million from $43.1 million last year. In its Circuit City Group, total sales increased 14% to $2.42 billion from $2.12 billion last year with comparable store sales up 10%. Excluding retained interest in the CarMax business, the Circuit City Group’s earnings increased 54% to $71.2 million from $46.1 million last year. During the quarter, the company opened five stores and currently operates 551 Circuit City superstores, two consumer-only electronics stores and 46 mall-based Circuit City Express stores. In its CarMax Group, total sales increased 34% to $535.7 million from $400 million last year. Comparable store sales fell six percent. Net earnings were $3.2 million, up from a $3 million loss posted last year. The company currently operates 37 locations. www.circuitcity.com

Jay Jacobs Inc. (206-622-5400), which recently filed for bankruptcy protection for the second time in five years, plans to close its 105-unit chain, which operates stores in 23 states. The company filed for bankruptcy after comp store sales fell 10% in May and June and after it failed to raise additional capital from private investors. At one time, the company operated 288 stores, but that swift growth strained the company’s resources and it filed for bankruptcy protection in May 1994. The company emerged from bankruptcy protection in November 1997 having closed more than 100 stores.

Brooks Brothers (212-309-7278) plans to close its only store in Orange County, CA during January 2000 when its lease expires. The store is located at Fashion Island in Newport Beach. There is a possibility that the company may relocate the store.

Pizza Hut (817-545-3495) plans to close its old, undersized restaurants and consolidate them into larger, more efficient locations. Included in that plan is one of the company’s original 13 locations in Wichita, KS, which recently closed.

London Fog Industries Inc. (212-790-3063) recently filed for Chapter 11 protection and announced plans to close 110 of its 140 stores, keeping 30 outlet stores. The reorganization will reverse the company’s expansion of its retail stores that placed the company in direct competition with department stores that sell its products.

Shoney’s, Inc. (800-626-5630) plans to close 72 underperforming company-owned restaurants in 14 states before the end of the month. The restaurants are located in AL, AR, FL, GA, IN, KY, LA, MD, MS, MO, NC, SC, TN and VA. In addition, the company plans to sell nine of its company-owned restaurants in Charlotte, NC to current franchisees, Graham Foods and Bud Foods. Upon completion of the closings and divestiture of the nine restaurants, the company will own, operate and franchise 1,117 restaurants in 28 states.

Decatur- Beltline Plaza is anchored by T.J. Maxx, Office Depot, Books-A-Million and Food World. The project has space available for lease. Demographics include a trade area population of 145,558 earning $50,116 as the average household income.

For details, contact Chase Properties at (216-464-6626), Fax (464-6346).

Dothan- Northside Mall is anchored by Wal*Mart, Montgomery Ward, Goody’s, Michael’s and Books-A-Million. The 382,299 sq.ft. project has spaces from 1,008 sq.ft. to 10,000 sq.ft. available for lease. Demographics include a five-mile population of 53,963 earning $42,269 as the average household income.

For details, contact Ken Powers of Acadia Realty Trust at (334-794-7614), Fax (793-5043).

Montgomery- Festival Plaza will be anchored by a movie theater and a traditional department store. The 300,000 sq.ft. project has space available for lease. Demographics include a five-mile population of 80,000 earning $66,000 as the average income. A Fall 2000 opening is planned. Also in Montgomery- Montgomery Commons is anchored by a Wal*Mart Supercenter, Marshalls, Michaels and Shoe Carnival. The 300,000 sq.ft. project has two outlots of 1.4 acres each available for lease. Demographics include a five-mile population of 135,000 earning $55,000 as the average income. In Prattville- Premiere Place is anchored by a Wal*Mart Supercenter, Belk and Goody’s. The 400,000 sq.ft. project has space available for lease in a planned phase II expansion.

For details, contact Buddy McClinton of McClinton & Company, Inc. at (334-270-9653), Fax (270-9811).

Daytona Beach- Bellair Plaza is anchored by Publix, Winn-Dixie, Walgreen’s, Belk, GC Murphy, Beall’s Outlet, Scotty’s and Blockbuster Video. The 380,000 sq.ft. project has space available for lease. Demographics include a three-mile population of 37,819 earning $32,469 as the median family income.

For details, contact The McClure Company at (727-821-0170), Fax (823-1922).

Orlando- The Crossings Shopping Center is anchored by Winn-Dixie, Savers, Schlotzsky’s Deli, Sally Beauty Supply and Wendy’s. The 113,000 sq.ft. project has spaces of 1,600 sq.ft., 3,200 sq.ft. and 8,000 sq.ft. available for lease. Demographics include a three-mile population of 54,663 earning $42,987 as the average household income.

For details, contact Courtelis Company at (305-379-8467), Fax (381-7875).

Orlando- Orange Blossom Center is anchored by Food Lion and Walgreens. The 205,000 sq.ft. project has spaces from 1,426 sq.ft. to 15,694 sq.ft. available for lease. Demographics include a five-mile population of 187,000.

For details, contact Deborah Abdin of Kellogg Properties at (407-293-1239), Fax (293-0175).

Winter Garden- Tri-City Shopping Center is anchored by Big Lots, Save-A-Lot, Family Dollar and Subway. The 89,000 sq.ft. project has space available for lease. Demographics include a five-mile population of 43,000 earning $38,122 as the average income.

For details, contact Continental Real Estate Companies at (305-854-7342), Fax (858-6239).

Winter Park- Goldenrod Groves Shopping Center is anchored by Publix, Blockbuster Video and Walgreen’s. The 109,508 sq.ft. project has in-line spaces of 975 sq.ft., 1,250 sq.ft. and 2,000 sq.ft. available for lease, as well as an outparcel for a building up to 15,000 sq.ft. available for lease. Also, a 10,000 sq.ft. to 13,000 sq.ft. anchor position is expected to become available for lease soon. Demographics include a three-mile population of 105,836 earning $56,250 as the average household income.

For details, contact Sanford Turner of Commodore Realty, Inc. at (305-372-3777).

Austell- East-West Crossroads is anchored by a Wal*Mart Supercenter. The 232,875 sq.ft. project has 29,125 sq.ft. available for lease. Demographics include a five-mile population of 148,288 earning $55,946 as the average household income. In Douglasville- Douglasville Crossroads is anchored by a Wal*Mart Supercenter and Sam’s Club. The 431,858 sq.ft. project has 83,700 sq.ft. available for lease. Demographics include a 10-mile population of 131,134 earning $52,941 as the average household income.

For details, contact Mitch Jacoby or Tracy Lojek of Jacoby Development, Inc. at (770-399-9930), Fax (206-9150).

Canton- River Pointe is anchored by a Wal*Mart Supercenter. The 243,931 sq.ft. project has space available for lease. Demographics include a five-mile population of 59,544 earning $51,440 as the average household income. In Cartersville- Felton’s Crossing is anchored by Ingles. The 112,240 sq.ft. project has in-line space and an anchor position of 27,200 sq.ft. available for lease. Demographics include a three-mile population of 21,325 earning $40,775 as the average household income. In Columbus- Bradley Park Crossing is anchored by Target, PetsMart, Goody’s and Michaels. The 242,696 sq.ft. project has spaces from 1,400 sq.ft. and up. Demographics include a five-mile population of 108,085 earning $50,000 as the average household income.

For details, contact JDN Realty Corporation at (404-262-3252), Fax (262-3324).

Kingsland- Camden Corners Shopping Center is anchored by Winn-Dixie, Revco, Movie Gallery and Pizza Hut. The 70,000 sq.ft. project has space available for lease.

For details, contact The Sterling Companies at (561-835-1810), Fax (833-4118).

St. Simons Island- Retreat Village is anchored by Winn-Dixie, Movie Gallery and Crafts & Stuff. The project has space available for lease. Demographics include a five-mile population of 14,235 earning $67,974 as the average household income.

For details, contact Amerishop Real Estate Services at (972-774-4100).

Carolina Beach- Federal Point Station is anchored by Food Lion and Maxway. The 94,319 sq.ft. project has spaces of 1,200 sq.ft. and 3,600 sq.ft. available for lease. Demographics include a five-mile population of 10,642 earning $46,906 as the average household income. In Charlotte- Cambridge Commons is anchored by Food Lion and Blockbuster. The 41,400 sq.ft. project has space available for lease. Demographics include a five-mile population of 54,133 earning $67,781 as the average household income. In Gastonia- Gaston Mall is anchored by Harris Teeter, Media Play, Mary Jo’s and Hollywood Video. The 238,835 sq.ft. project has space available for lease. Demographics include a three-mile population of 38,984 earning $47,909 as the average household income. In Seaside- Pelican Square Shopping Center is anchored by Food Lion. The 41,250 sq.ft. project has spaces from 1,000 sq.ft. to 1,200 sq.ft. available for lease. Demographics include a three-mile population of 7,885 earning $48,160 as the average household income.

For details, contact Gina Wholley or J.J. Southerland of Lat Purser & Associates at (704-519-4200).

Charlotte- Eastway Square is anchored by Food Lion and Goody’s. The 135,762 sq.ft. project has space available for lease. Demographics include a three-mile population of 95,964 earning $54,252 as the average household income. In Winston-Salem- Silas Creek Crossing is anchored by Toys ‘R Us and Marshalls. The 205,240 sq.ft. project has space available for lease. Demographics include a three-mile population of 55,676 earning $61,362 as the average household income.

For details, contact Zaremba Leasing at (216-221-6600).

Garner- North Station Shopping Center is anchored by Wal*Mart, Belks, Staples and Winn-Dixie. The project has a freestanding 4,890 sq.ft. building available for lease on an outlot. Demographics include a three-mile population of 44,000 earning $46,000 as the average income.

For details, contact Mary Hobson of Grubb & Ellis/Vector Properties at (919-420-1581).

Greensboro- Greensboro Plaza is anchored by Kmart. The 114,140 sq.ft. project has a 30,000 sq.ft. space available for lease.

For details, contact Wharton Realty Group at (800-330-1511).

Greenville- Greenville Mall is anchored by Dillard’s, Proffitt’s, Montgomery Ward, Oshman’s Super Sports and Regal Hollywood 20 Cinema. The project has space available for lease. Demographics include a five-mile population of 104,322 earning $58,698 as the average household income.

For details, contact Amerishop Real Estate Services at (972-774-4100).

Greenville- Verdae Marketfair is anchored by Stein Mart, Marshalls, Service Merchandise and Office Depot. The 235,485 sq.ft. project has space available for lease. Demographics include a five-mile population of 130,525 earning $52,000 as the average household income. In Spartanburg- Market Square is anchored by Home Depot, Michaels and T.J. Maxx. The 203,513 sq.ft. project has space available for lease. Demographics include a five-mile population of 80,500 earning $45,370 as the average household income.

For details, contact CNM Associates at (404-869-2700), Fax (869-7171).