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The
Dealmakers Issue Number 38 for the wek of October 30, 1996. Shoe
Retailers Looking To Open Additional Stores The
Brown Group trades as Naturalizer at 320 locations nationwide and as Naturalizer Outlets
at 40 locations nationwide. The mall-based
stores, selling women's footwear, occupy spaces of 1,200 sq.ft. The outlet-based stores, selling family footwear,
occupy spaces of 2,500 sq.ft. Plans call for
as many as 20 mall-based store openings and as many as eight outlet-based store openings
in the coming 18 months. Expansion will take
place nationwide. For more information, contact Mark Walsh, The
Brown Group, 8300 Maryland Avenue, Clayton, MI 63105; 314-854-4000, Fax 854-2012. Cavender's
Boot City operates 34 locations in TX. The
stores, which sell boots and western wear for the entire family, occupy spaces of 10,000
sq.ft. to 15,000 sq.ft. in freestanding facilities and strip centers. Growth opportunities are sought in the existing
markets. For more information, contact Sharon Biles,
Cavender's Boot City, c/o The Network Group, 7709 San Felipe, Suite 204, Houston, TX
77063; 713-975-6633, Fax 975-6622. Payless
ShoeSource operates 4,586 locations nationwide. The
family shoe stores occupy spaces of 3,000 sq.ft. to 4,000 sq.ft. in downtown store fronts,
freestanding facilities, regional malls and strip centers.
Growth opportunities are sought nationwide. For more information, contact The Director of Real
Estate, Payless ShoeSource, 3231 East 6th Street, Topeka, KS 66607; 913-233-5171, Fax
295-6815. The
Butler Group, Inc. trades as Dolcis at 200 locations nationwide. The women's footwear stores occupy spaces of 1,700
sq.ft. in downtown store fronts and regional malls. Plans
call for 10 openings in the coming 18 months. Expansion
will take place nationwide. For more information, contact Gary Stiles, The
Butler Group, Inc., 400 Technology Court, Suite F, Smryna, GA 30082; 770-801-1200, Fax
801-0075. Charles
Jourdan operates seven locations in CA, FL and NY catering to an affluent clientele. The men's and women's shoe stores occupy spaces of
3,300 sq.ft. in regional malls and strip centers. Growth
opportunities are sought in large metropolitan areas nationwide. For more information, contact Tom Timen, Charles
Jourdan, 152 West 57th Street, New York, NY 10019; 201-507-9700, Fax 245-1498. Lamey-Wellehan
trades as Lamey-Wellehan, Footloose and Evergreen at seven locations in ME. The shoe stores occupy spaces of 3,500 sq.ft. to
6,000 sq.ft. in freestanding facilities, power, specialty and strip centers. Plans call for as many as two openings in the
coming 18 months. The company is scouting for
locations in ME, NH and VT. Preferred
demographics include a population of 10,000 within 10 miles earning $50,000 as the average
income. For more information, contact James Wellehan,
Lamey-Wellehan, 110 Lisbon Street, Lewiston, ME 04240; 207-784-6595, Fax 784-9650. Financial
News... Consumers
Distributing, Inc. (905-405-4000) recently filed for protection from creditors under the
Companies' Creditors Arrangement Act in Canada. The
company operates discount catalog showrooms throughout Canada. Pudgie's
Chicken, Inc. (516-222-8833), which operates and franchises fast food restaurants,
recently filed for Chapter 11 protection. AutoZone,
Inc. (901-325-4600) announced that sales during its fiscal year increased 24% to $2.24
billion from $1.81 billion during FY95. For
the year, comparable store sales were up six percent.
During the year, the company opened 280 stores and currently operates 1,183 stores
nationwide. Plans for fiscal 1997 call for
335 stores. Circuit
City Stores, Inc. (804-527-4000) reported that its second quarter sales increased 10% to
$1.76 billion from $1.6 billion during the second quarter last year. However, comparable store sales fell seven
percent. The company currently operates 393
superstores, 41 mall-based Circuit City Express stores, five consumer electronics-only
stores and five CarMax stores nationwide. House
of Fabrics, Inc. (818-995-7000), which recently emerged from Chapter 11, reported a net
loss of $5 million for its second quarter. A
net loss of $11 million was reported during the second quarter last year. Second quarter sales were $54.8 million as
compared to $71.9 million last year, reflecting 86 fewer stores. The company currently operates 269 stores trading
as House of Fabrics, Sofro Fabrics, Fabricland and Fabric King. Bradlees,
Inc. (617-380-5863) reported that its total sales for the second quarter were $386.2
million as compared to $437.5 million during the second quarter last year. Comparable store sales fell 10%. Best
Buy Co., Inc. (612-947-2000) reported that its second quarter earnings were $3.788
million, down from $5.714 million during the second quarter last year. Second quarter revenues were $1.779 billion, up
24% from $1.438 billion. The company, which
operates 262 stores, plans to open 10 stores during the third quarter. Bed
Bath & Beyond, Inc. (201-379-1750) reported that its second quarter net sales
increased 35.6% to $203.5 million from $150.11 million during the second quarter last
year. Net earnings increased 37.6% to $15.1
million from $11 million last year and comparable store sales increased 4.9% for the
quarter. Fretter,
Inc. (810-220-5040), which is in the process of closing all of its stores, recently filed
for Chapter 11 in order to complete the liquidation of its remaining assets and
distribution to its creditors in an orderly manner. Revco
D.S., Inc. (216-425-9811) reported that its first fiscal quarter sales increased 9.6% to
$1.179 billion from $1.076 billion last year. Comparable
store sales increased 7.9% during the quarter. Net
income increased 71.4% to $14.4 million from $8.4 million last year. During the quarter, the company opened 43 stores
and closed five to end the quarter with more than 2,200 stores in 14 states. PepsiCo,
Inc. (914-253-2725) plans to sell its Hot 'n Now restaurant chain and is considering
selling its Chevys, California Pizza Kitchen and East Side Mario's chains. Hollywood
Entertainment Corp. (503-570-1600) reported that its comparable store sales for its third
quarter increased six percent. The company
opened 72 stores during the quarter and currently operates 453 units in 29 states. Who's
Opening and Where... Home
Depot (770-433-8211) plans to open stores in Wilkins, West Mifflin and North Fayette, PA Hollywood
Entertainment Corp. (503-570-1600) recently announced that it plans to accelerate its
store openings to 250 this year, 300 during 1997 and 300 during 1998. Michigan
Brewery, Inc. (517-731-0401) plans to open a 26,500 sq.ft. Big Buck Brewery and Steakhouse
restaurant with a bar and microbrewery in Auburn Hills, MI.
The unit is expected to open during June 1997.
The company also announced that it has purchased an existing 8,200 sq.ft.
restaurant building in Grand Rapids, MI which it plans to convert into a Big Buck Brewery
and Steakhouse unit. The restaurant is
expected to open during February 1997. CompUSA,
Inc. (972-982-4000) plans to open a 26,300 sq.ft. store at The Penn Center in Monroeville,
PA during Spring of 1997. Gymboree
(415-579-0600) plans to open a 1,569 sq.ft. store at Capital City Mall in Harrisburg, PA. Shaw's
Supermarkets, Inc. (508-588-0293) plans to open its first unit outside of New England in
New Rochelle, NY during early 1998. The
supermarket will occupy more than 65,000 sq.ft. The
company also announced that it plans to open its first Boston, MA unit during summer 1997. The supermarket will occupy more than 50,000
sq.ft. Dayton's
(612-375-3510) plans to open a 225,000 sq.ft. department store at Eden Prairie Center in
Eden Prairie, MN during late summer 1998. Morrison
Fresh Cooking, Inc. (334-344-3000) plans to open smaller restaurants with take-out and
drive-through windows, running 3,000 sq.ft. to 7,000 sq.ft., outside of malls. The first unit is expected to open in Rome, GA
during February, 1997, with additional units planned for Cartersville, GA and Plant City,
FL next year. Discount
Auto Parts, Inc. (941-687-9226) and Q Lube, Inc. (801-975-4677) recently entered into a
joint venture agreement to develop locations that offer both the retail sale of automotive
parts and fast lube and maintenance services. As
many as 20 joint units are planned for 1997 in locations throughout FL and the
Southeastern region. Sites will be located
adjacent to existing and newly developed Discount Auto Parts stores. Discount Auto Parts currently operates 336 stores
in AL, FL, GA and SC. Q Lube operates 466
units in 24 states and Canada. Pour
La France (303-322-1298) plans to open a 4,000 sq.ft. restaurant in downtown Denver, CO in
the former Banana Republic space next month. The
unit will not use the Pour La France name and will have a new name chosen by a focus
group. Toys
'R Us (201-599-7850) is building a 32,000 sq.ft. store at Yoder Farms Shopping Center in
Newport News, VA. The store is expected to
open before Christmas. Boston
Chicken, Inc. (303-384-5172) recently opened its 1,000th restaurant chain-wide. The unit is located in Boston, MA. The company also announced plans to open 281
restaurants in the New York metropolitan area in the coming eight years. Schlotzsky's
Deli (512-469-7500) plans to open as many as 20 restaurants in the Orlando, FL area in the
coming three years. Imax
Theaters (416-960-8509) plans to construct a theater at The Shops at Sunset Place in South
Miami, FL. The project is expected to open
during late 1997 or early 1998. Country
Star Restaurants, Inc. (310-268-2200) recently opened a 22,000 sq.ft. restaurant in
Atlanta, GA and plans to open a 12,000 sq.ft. unit at Pointe Orlando Entertainment Center
in Orlando, FL during July 1997. K&G
Men's Center, Inc. (404-351-7987) recently opened men's apparel stores in Bailey's
Crossroads, VA and New Carrollton, MD and is planning to open a store in Columbus, OH
during the fourth quarter. The company
currently operates 16 stores. The
Good Guys! (415-615-5000) plans to open a WOW! store in Long Beach, CA this month. It will be company's second WOW! store, which
combines a Good Guys! store with a Tower Records store. Alberston's,
Inc. (208-385-6200) plans to open a 50,000 sq.ft. supermarket at Orangecrest Plaza in
Riverside, CA during the first quarter of 1997. CVS
Pharmacy (401-765-1500) recently opened nine stores in the Atlanta, GA area. The company's long-range goal includes the opening
of 100 drug stores in the Atlanta metropolitan area. Magic
Johnson Theaters (310-247-1994) plans to open a 12-screen, 3,000 seat movie theater on
125th street in East Harlem, NY during 1997. Bed
Bath & Beyond (201-379-1750) recently opened a store at Tustin Market Place II in
Irvine, CA. It is the company's 100th store
chainwide. The company is looking to open an
additional 100 stores in the coming three years. Buyers
& Sellers of Commercial Properties West
Shell Commercial*Oncor International has the listing to sell Town & Country Shopping
Center in Hamilton, OH. The 80,841 sq.ft.
project is anchored by Marsh grocery store, AutoZone and Family Dollar. The asking price is $2.4 million. For more information, contact Shenan Murphy at
(513-562-2205). Neal*Mannausa
represented an undisclosed seller in the sale of Colonnade Shopping Center in Sarasota,
FL. The 36,926 sq.ft. project was acquired by
Al-Vin Properties, Inc. for $2.775 million. For more information, contact Sue Haggard at
(941-365-1511). United
Commercial Realty represented United Commercial Development in its acquisition of
Prestonwood Village Shopping Center in Dallas, TX. The
190,000 sq.ft. project is anchored by Toys 'R Us, Best Buy, Drug Emporium and Kids 'R Us. The seller was Equitable Life Assurance. For more information, contact Jean Smith at
(214-526-6262). Island
Associates Real Estate, Inc. recently brokered the sale of Middle Island Plaza in Middle
Island, NY. The 140,000 sq.ft. project is
anchored by King Kullen, Aids Auto Store and Blockbuster Video. For more information, contact Roger Delisle, Jr.
at (516-587-5050). Eric
Bram & Co. Realtors has the listing to sell 25 acres of land on Route 70 in Brick
Township, NJ. The site is situated west of a
proposed Target store. In addition to the 25
acre tract, there is also an adjacent 45 acre tract available. The site is available for sale in its entirety or
sub-divided. The parcels are also available
for lease. For more information, contact Harold Wien at
(908-229-5200). Federal
Realty Investment Trust recently acquired Saugus Plaza Shopping Center in Saugus, MA. The 168,000 sq.ft. project is anchored Kmart and
Super Stop & Shop. The purchase price was
$12.175 million. For more information, contact Robert Wennett at
(301-998-8308). West
Venture Commercial brokered the sale of The Azusa Promenade in Azusa, CA. The 72,000 sq.ft. project is anchored by
Pic-N-Save, Blockbuster Video, Goodyear Tires and Sizzler Restaurant. The center was sold by Westland Reserves, Inc. to
Golden Mountain Investments, Inc. For more information, contact Heather Richmond at
(818-567-3100). General
Growth Properties recently acquired Park Mall in Tucson, AZ. The 860,000 sq.ft. project is anchored by Sears,
Dillard's and Macy's. The purchase price of
$50 million consisted of $25 million in cash and one million shares of common stock. Also included in the acquisition was 12 acres of
undeveloped land adjoining the property. For more information, contact John Bucksbaum at
(312-551-5005). Food
Tenants Hungry for Sites Nationwide Villa
Enterprises trades as Villa Pizza at 96 locations nationwide. The fast food restaurants, serving pizza and
Italian foods, occupy spaces of 600 sq.ft. to 1,800 sq.ft. in downtown store fronts,
regional malls and outlet centers. Plans call
for 20 openings in the coming 18 months. Expansion
will take place nationwide. Leases running 10
years are typical and the company is franchising. For more information, contact John Scotti, Villa
Enterprises, 17 Elm street, Morristown, NJ 07960; 201-285-4800, Fax 285-5252. Eateries,
Inc. trades as Garfield's Restaurant & Pub at 55 locations in AL, AR, FL, GA, OK, MO,
TX, KY, IL, TN, LA, MI, OH, IN, NY, WI, WV, MS and NC.
The restaurants occupy spaces of 4,500 sq.ft. in regional malls. Growth opportunities are sought in the existing
markets. For more information, contact Vincent Orza, Jr.,
Eateries, Inc., 3240 West Britton Road, Suite 202, Oklahoma City, OK 73120; 405-755-3607,
Fax 751-7348. My
Favorite Muffin, Inc. trades as My Favorite Muffin at 65 locations nationwide. The restaurants, specializing in muffins, cookies
and pastries, occupy spaces of 500 sq.ft. to 3,000 sq.ft. in downtown store fronts,
regional malls and strip centers. Plans call
for as many as 20 openings in the coming 18 months. Expansion
will take place nationwide. For more information, contact Ron Sommers, My
Favorite Muffin, Inc., 155 North Main Street, New City, NY 10596; 800-332-2229, Fax
914-638-3878. Mrs.
Powell's, Inc. does business as Mrs. Powell's Bakery Eatery at 26 locations in AZ, CA, FL,
WA, UT, ID, RI, SC, WI, WV, NH, KS and MT. The
restaurants, serving gourmet cinnamon rolls, muffins, breads, soups and sandwiches, occupy
spaces of 1,000 sq.ft. to 2,000 sq.ft. in downtown store fronts, freestanding facilities,
regional malls and strip centers. Plans call
for 12 openings in the coming 18 months. Expansion
will take place in the existing markets. Preferred
demographics include a population of 40,000 within five miles earning $40,000 as the
average income. Leases running 10 years, with
options, are typical. The company is
franchising. For more information, contact John Woodburn, c/o
C.J. Woodburn & Associates, 2343 Wadding Ores, Mississauga, Ontario, CN L5K 1Z4;
905-403-1533, Fax 829-3985. Little
Caesar Enterprises, Inc. trades as Little Caesars Pizza at more than 5,000 locations
nationwide. The pizza restaurants occupy
spaces of 1,200 sq.ft. to 1,400 sq.ft. in freestanding facilities, strip and specialty
centers. Plans call for 300 openings in the
coming 18 months. Expansion will take place
nationwide. For more information, contact Mike Atwell, Little
Caesar Enterprises, Inc., 2211 Woodward Avenue, Detroit, MI 48201-3400; 313-983-6000, Fax
983-6390. Mrs.
Fields, Inc. trades as Mrs. Fields Cookies at 300 locations nationwide. The stores, selling cookies, occupy spaces of 800
sq.ft. to 2,000 sq.ft. in regional malls. Plans
call for 25 openings in the coming two years. Expansion
will take place nationwide. The company is
also seeking kiosk locations. For more information, contact Russ Smith, Mrs.
Fields, Inc., 462 West Bearcat Drive, Salt Lake City, UT 84115; 801-463-2000, Fax
463-2140. Chao
Praya Chinese Eatery operates 27 locations in AZ, MI, IL, OK, TN, NC, VA and TX. The Chinese restaurants occupy spaces of 650
sq.ft. in regional malls. Growth
opportunities are sought nationwide. For more information, contact Wanchai
Suebhongsang, Chao Praya Chinese Eatery, 1880 Lakeland Drive, Suite 3, Jackson, MS 39216;
601-982-2863, Fax 982-2895. Gloria
Jean's Gourmet Coffees, Inc. trades as Gloria Jean's Gourmet Coffees at 252 locations
nationwide and in 11 foreign countries. The
stores, selling gourmet coffees, teas and accessories, occupy spaces of 800 sq.ft. to
1,200 sq.ft. in downtown store fronts, regional malls and specialty centers. Plans call for 11 openings in the coming 18
months. Expansion will take place
internationally. For more information, contact Chuck Anderson,
Gloria Jean's Gourmet Coffees, Inc., 395 Del Monte Center #152, Monterey, CA 93940;
408-633-6300, Fax 633-0664. Sweet
Factory, Inc. trades as Sweet Factory at more than 180 locations nationwide. The stores, selling candy, occupy spaces of 800
sq.ft. to 1,000 sq.ft. in downtown store fronts, regional malls and specialty centers. Plans call for 50 openings in the coming 18
months. Expansion will take place nationwide. For more information, contact Jerry Silverman,
Sweet Factory, Inc., 10343 Roselle Street, Suite A, San Diego, CA 92121; 619-558-6771, Fax
558-8911. Mergers
& Acquisitions Cole
National Corporation (216-449-4100) has agreed to purchase the stock and certain assets of
Pearle, Inc. In a related transaction, Cole
National has agreed to sell Pearle's European business to a company organized by HAL
Investments B.V. Cole will retain a minority
interest in the European operations. Pearle,
which trades as Pearle Vision, operates 692 retail locations in 43 states, Canada, Puerto
Rico and the U.S. Virgin Islands. Cole
National, which operates more than 1,000 optical retail locations trading as Sears
Optical, Montgomery Ward Vision Center, BJ's Optical and Target Optical, plans to keep the
Pearle Vision name and keep Pearle separate from the Cole Vision operations. Megafoods
Stores, Inc. (602-926-1087) and Bashas' recently announced that an agreement has been
reached on the sale of Megafoods' AZ operations to Bashas'.
Under the agreement, Bashas' will acquire certain Megafoods assets and liabilities
including its 16 stores in AZ. Megafoods,
which is operating under Chapter 11 protection, will retain its 19 stores in TX that trade
as Handy Andy. The deal is expected to close
by the end of this month. Checkers
Drive-in Restaurants, Inc. (813-441-3500) recently announced that Specialized Restaurant
Concepts, one of its largest franchisees, has purchased five Rally's Hamburger locations
in Montgomery and Selma, AL. Specialized
Restaurant Concepts plans to convert the stores to Checkers units. The acquisition will bring the total number of
Checkers restaurants to 510. Grill
Concepts, Inc. (310-820-5559) recently announced that it will not proceed with the
purchase of Hamburger Hamlet due to Grill Concepts' inability to obtain the financing
required to complete the sale under the terms of the agreement. In a statement, Grill Concepts' president said,
"we concur with our financial advisors that the current valuation put on the
Hamburger Hamlet assets is unrealistic and that the condition of the business,
particularly with respect to failed cash flow projections, is such that conventional
financial sources are unwilling to underwrite the acquisition as originally
structured." Supervalu,
Inc. (412-925-6600) recently acquired three supermarkets from Davis Supermarkets in
Latrobe, Greensburg and Hempfield Township, PA. West
Coast Entertainment Corp. (215-677-1000) recently completed the acquisition of Super Video
Stores, a 14-unit chain in northern NJ. The
company currently operates and franchises 515 stores nationwide. Petco
Animal Supplies, Inc. (619-453-7845) recently announced plans to acquire Pet Food
Warehouse, Inc., a chain of 28 stores located in the Midwest. The deal is expected to close later this year. Petco currently operates 277 stores in 15 states. Renters
Choice, Inc. (972-419-2613) announces that it has acquired 11 rental purchase stores in
three separate transactions. The stores are
located in FL, MA, MS and NH. Following the
acquisitions, the company operates 354 stores in 32 states. Revco
D.S., Inc. (216-425-9811) announced that it has entered into a confidentially agreement
with Big B, Inc. In the agreement, Big B has
agreed to provide Revco with confidential information regarding Big B, and Revco has
agreed that, until November 30, 1996, (or earlier in certain events), Revco will not
engage in a proxy solicitation or take certain other actions to acquire control of Big B
other than a cash tender offer for all outstanding Big B common stock of at least $15 per
share. The agreement also provides for a stay
of the litigation in the Federal District Court of Birmingham, AL, with respect to Big B's
poison pill rights plan. Blockbuster
Entertainment (954-832-3000) announces that it has agreed to acquire Xtra-vision, which
operates 217 video stores in Ireland (141 in the Republic and 76 in Northern Ireland). Zapata
Corporation (713-940-6100) announced that its has terminated its merger agreement with
Houlihan's Restaurant Group, Inc. pursuant to a provision giving either party the right to
terminate if the merger was not consummated before October 1. Part of the reason for termination stemmed from an
adverse ruling by the Court of Chancery in Delaware holding that an 80 percent
supermajority vote of Zapata's stockholders was required for approval of the merger. Woolworth
Corp. (212-553-2000), through its subsidiary Woolworth Canada, Inc., plans to sell its
42-unit Silk & Satin lingerie chain to La Senza, Inc.
The deal is expected to be completed this month. New
Construction Donahue
Schriber is developing Riverlakes Village Shopping Center in Bakersfield, CA. The project will feature a 56,000 sq.ft. Vons
supermarket and a 20,000 sq.ft. Longs Drug store. Space
for in-line tenants will also be constructed as will outlot buildings for Blockbuster
Video and Carl's Jr. restaurant. For more information, contact Donahue Schriber at
(714-854-2100). Konover
& Associates, Inc. recently broke ground on two Wal*Mart stores. The first is for a 122,619 sq.ft. store in
Cromwell, CT and the second is for a freestanding store in North Kingston, RI. Both stores are expected to open during Spring
1997. For more information, contact Konover &
Associates, Inc. at (203-232-4545). Prime
Retail plans to break ground during April, 1997 on Lebanon Factory Shops in Lebanon, TN. The 400,000 sq.ft. project will be built in three
phases, with phase I expected to open before the holiday season in 1997. Phase I will be 200,000 sq.ft. and contain 65
factory outlet stores. The second and third
phases will encompass 100,000 sq.ft. each. Tenants
will be announced as the grand opening date approaches. For more information, contact Prime Retail at
(410-234-0782. Developers
Diversified recently broke ground on Merriam Town Center in Merriam, KS. The 436,087 sq.ft. power center will be anchored
by Home Depot, Hen House Market, PetsMart and Home Town Buffet. For more information, contact Developers
Diversified at (216-247-4700). Newman
Properties, in a joint venture with Heng Tong, plans to develop an 800,000 sq.ft. power
center in Beijing, China fronting the Great Wall of China Expressway. The project will include a mix of big boxes and
in-line space with enclosed sidewalks and parking for 2,600 cars and 2,800 bicycles. For more information, contact Harry Newman of
Newman Properties at (310-495-4833, Ext. 3003). Exclusives:
Leasing & Management Assignments Urban
Shopping Centers, Inc. (312-915-2480) has been named the leasing, managing and marketing
agent for Fashion Mall, Keystone at The Crossing and the adjacent Keystone Shoppes in
Indianapolis, IN. The 600,000 sq.ft. Fashion
Mall is anchored by a 130,000 sq.ft. Parisian and a 120,000 sq.ft. Jacobson's. Keystone Shoppes is a 30,000 sq.ft. community
center with six restaurants on outparcels. Uniwest
Realty, Inc. (703-671-2880), which exclusively represents Ruby Tuesday's, Inc. in the
Washington, D.C.-Baltimore, MD area, announces that Ruby Tuesday's recently opened its
31st unit in the area at the Aquia Towne Shopping Center in Stafford, VA. Additional Ruby Tuesday's restaurants are planned
in Clinton, White Marsh and Westminster, MD as well as in Rehobeth Beach, DE. CB
Commercial Real Estate Group (714-458-5200) has been awarded the leasing and marketing
contract for Gordon Square Shopping Center in Buena Park, CA. The 144,000 sq.ft. project is anchored by
PetsMart, Blockbuster Video and El Pollo Loco. A
53,000 sq.ft. former Super 1 Food space is available and a 50,000 sq.ft. addition is
planned. Sevell
* Duncan Realty Services, Inc. (407-995-0100) is exclusively representing Payless
ShoeSource in FL to sublease eight former Payless stores.
Sites range is size from 1,440 sq.ft. to 3,500 sq.ft. and are located in Boca
Beach, Boynton Beach, Crystal River, Davie, Lakeland, Miami, Panama City and Tampa. The company is exclusively representing Winn-Dixie
in FL to sublease 25 former Winn-Dixie supermarkets.
Site range in size from 16,048 sq.ft. to 73,890 sq.ft. and are located in Boynton
Beach, Crestview, Crystal River, Davie, Delray Beach, Fort Meyers, Gainesville, Hialeah,
Hudson, Jacksonville, Juno Beach, Longwood, Miami, Miramar, New Smyrna Beach, Orlando,
Panama City, Spring Hill, Stuart, Sunrise, Venice, Williston and Winter Haven. The company also exclusively represents Eckerd
Drug Stores in FL to sublease 26 former Eckerd Drug Stores.
Sites range in size from 4,769 sq.ft. to 12,534 sq.ft. and are located in Cocoa
Beach, Coral Gables, Delray Beach, Englewood, Fort Pierce, Fort Lauderdale, Green Cove
Springs, Gulfport, Holiday, Hollywood, Jacksonville, Lakeland, Miami, Miami Shores, North
Miami, South Miami, North Miami Beach, Neptune Beach, New Port Richey, Ormond Beach, Port
Charlotte, Punta Gorda, St. Petersburg Beach and Tampa. Metro
Commercial Real Estate, Inc. (609-866-1900) has been named the exclusive leasing agent for
Cross Key Convenience Center, a 40,000 sq.ft. project to be developed in Medford, NJ. The site is expected to be anchored by a drug
store, a bank and a video store. Lanard
& Axilbund Colliers (215-925-4600) has been appointed exclusive representative in the
Philadelphia, PA area for Jenny Craig Weight Loss Centers, Inc. Recently, the company negotiated a 2,400 sq.ft.
lease for Jenny Craig at the Court at Deptford in Deptford, NJ. Additional sites in the area are being sought. First
Washington Management, Inc. (301-907-7800) has been named the leasing and property
management agent for Maplewood Center in Manassas Park, VA.
The 264,000 sq.ft. project is anchored by Shoppers Food Warehouse and Rite Aid. The company was also named the leasing and
property management agent for Seaford Village in Seaford, DE. The 185,000 sq.ft. project is anchored by Sears,
Roses and Leggat stores. Island
Associates Real Estate, Inc. (516-587-5050) has been named the exclusive leasing agent and
property manager for Strathmore Commons Shopping Center in Middle Island, NY. The 140,000 sq.ft. project is anchored by King
Kullen Grocery Stores, Aids Auto Store, Blockbuster Video and Petland Discount Store. The company has also been appointed the exclusive
leasing agent for Checkers Hamburgers for all locations east of the Wantagh Parkway in NY. The company has already negotiated on behalf of
Checkers for locations on Sunrise Highway in Lindenhurst, NY and at Brentwood Village in
Brentwood, NY. Mid-America
Real Estate Corp. (630-954-7300) has been retained by Service Merchandise to conduct the
subleasing/disposition of four former Handy Andy properties totaling 275,000 sq.ft. in the
Chicago, IL area. The properties are located
at Lombard Pines Shopping Center, 72,585 sq.ft.; Village Plaza Shopping Center, 57,272
sq.ft.; Burbank Town Center Shopping Center, 67,338 sq.ft. and The Landing Shopping
Center, 79,686 sq.ft. General
Growth Properties (312-422-2300) has been awarded seven contracts to manage regional malls
totalling 5.5 million sq.ft. in the U.S. for Cadillac Fairview Corp. Ltd. The company also announces that it has been
awarded a contract to manage San Jacinto Mall in Baytown, TX. Aries
Deitch & Endelson, Inc. (914-949-2800) has been named by Ecomat, Inc. as its exclusive
agent for the selection and acquisition of properties to be owned and operated by the
company. Ecomat Cleaners & Laundromats
offers complete garment care using a non-toxic, wet cleaning process. The company is looking for sites in Westchester
County, NY and Fairfield, CT. The
Schultz Brokerage Services Group (908-855-0001) has been appointed by the A&P
Corporation as its exclusive sales and subleasing agent.
Schultz is subleasing an 18,050 sq.ft. former A&P store in Silverton, NJ. Also, the company is the exclusive sales agent of
two land parcels zoned for retail usage: a 2.7 acre site in Silverton, NJ and a 5.8 acre
site in Union, NJ. Hicks
& Rotner Retail (410-823-4250) has been selected by Best Friends Pet Resort &
Salons to manage its site selection activities in the Baltimore/Washington, D.C.
metropolitan area. The company currently
operates 15 facilities in 11 states and is looking to open 40 locations in the
Baltimore/Washington area and 200 nationally over the next five years. Divaris
National, L.L.C., an affiliate of Divaris Real Estate, Inc. (757-497-2113) has been
appointed the managing agent of Eastlake Square Mall in Hillsborough County, FL. The 1.006 million sq.ft. project is anchored by
Dillard's, J.C. Penney, Montgomery Ward and Service Merchandise. Equity
Properties, Inc. (610-645-7700) represents an automobile service company that is seeking
existing facilities in the New Jersey counties of Bergen, Essex, Hudson, Middlesex,
Morris, Passaic, Somerset and Union. Requirements
include: lots sizes running 20,000 sq.ft. to 40,000 sq.ft. with parking for at least 15
cars; building sizes (freestanding, pad or end caps preferred) running 3,000 sq.ft. to
6,000 sq.ft. with a minimum of four service bays; traffic counts of at least 20,000
vehicles per day; demographics of at least 30,000 within three miles and a lease deal of a
five-year base term with options-franchisee signature. The
Hausman Companies (216-464-5900) will be representing franchisees in their site selection
process to develop Schlotzsky's Deli stores in northeastern OH. Lease
Signings Erwin
L. Greenberg (410-837-2500) leased 45,000 sq.ft. to Safeway Supermarket at Southgate
Shopping Center in Culpeper, VA and 40,000 sq.ft. to Gold's Gym at Beltway Crossing
Shopping Center in Glen Burnie, MD. Morbitzer
Group, Inc. (407-539-1000) leased 25,195 sq.ft. to Thoroughbred Music at Lee Road Shopping
Center in Orlando, FL and 1,356 sq.ft. to Signs Now at Avenue Shoppes in Orlando, FL. United
Commercial Realty (214-526-6262) leased 13,500 sq.ft. to C&S Music at Arlington Park
Square Shopping Center in Arlington, TX; 6,670 sq.ft. to Blockbuster Video at Preston
Trail Village in Dallas, TX and 5,501 sq.ft. to Blockbuster Video at Preston Park Village
in Plano, TX. Courtelis
Company (305-379-8467) leased 81,000 sq.ft. to Home Depot for a Home Depot Expo Center at
Airpark Plaza in Miami, FL. Rubin
Realty Division (215-875-0131) leased 18,560 sq.ft. to Pep Boys at Hudson Mall in Jersey
City, NJ; 9,900 sq.ft. to Toy Works at Reading Mall in Reading, PA; 14,069 sq.ft. to
Loehmann's at Wayne Towne Center in Wayne, NJ; and 10,000 sq.ft. to Old Country Buffet at
Beaver Valley Mall in Monaca, PA. KLNB,
Inc. (410-321-0100) leased 3,885 sq.ft. to BK Golf, Inc. in Towson, MD; 3,154 sq.ft. to
Bruegger's Bagel Bakery in Manassas, VA and 2,040 sq.ft. to Jenny Craig Weight Loss Center
in Pasadena, MD. Zell
Commercial Real Estate Services (602-248-0600) leased 1,500 sq.ft. to Young Fashions at
Bashas' Chandler Centre in Chandler, AZ; 887 sq.ft. to Cigarettes Cheaper! at Chris-Town
Plaza Shopping Center in Phoenix, AZ; 1,400 sq.ft. to Cigarettes Cheaper! at Goodyear
Village Shopping Center in Goodyear, AZ; 1,170 sq.ft. to Fae's 2 and 1,260 sq.ft. to
Airbrush Gallery at Mountain View Plaza in Scottsdale, AZ and 1,948 sq.ft. to Super
Carniceria & Mercado Palacios at MacFrugal's Plaza in Mesa, AZ. Sansone
Group (314-727-6664) leased 14,000 sq.ft. to Old Navy Clothing at Northland Square in St.
Louis, MO; 4,600 sq.ft. to The Little Gym at South Lakeview Plaza in St. Louis, MO; 1,262
sq.ft. to Oreck Vacuum at The Plaza at Sunset Hills in St. Louis, MO and 1,600 sq.ft. to
Austin Futon Company at Mid County 7 in St. Louis, MO. Divaris
Real Estate (757-497-2113) leased 12,000 sq.ft. to Mary Jane Bakery in Richmond, VA; 7,250
sq.ft. to Sino-American Associates for a Chinese restaurant at a former Chi-Chi's location
on a pad site in front of T.J. Maxx Shopping Center in Richmond, VA; 4,546 sq.ft. to
Sino-American Associates for a Chinese restaurant at Victorian Square Shopping Center in
Richmond, VA and 549 sq.ft. to Dagwood's Deli in Richmond, VA. Terranomics
Retail Services, Inc. (505-883-6132) leased 40,000 sq.ft. to Bed Bath & Beyond at
Winrock in Albuquerque, NM. West
Venture Commercial (818-567-3100) leased 20,000 sq.ft. to 99 Cent Only Store at Sunset
Square in West Covina, CA. Metro
Commercial Real Estate, Inc. (609-866-1900) leased 53,000 sq.ft. to HomePlace at
Brandywine Square in Downingtown, PA. Goudreau
Management Corp. (216-741-7524) leased 10,900 sq.ft. to Factory Card Outlet and space to
Boston Market on an outparcel at Meadowbrook Market Square II in Bedford, OH. The
Hutensky Group (860-527-2222) leased 34,250 sq.ft. to Railroad Stores at Colonial Plaza
Shopping Center in Waterbury, CT. Kranzco
Realty Trust (610-941-9292) leased 45,000 sq.ft. to Circuit City Stores, Inc. at The Mall
at Cross County in Yonkers, NY; 43,250 sq.ft. to T.J. Maxx at a former Leh's Department
Store at Bethlehem Square in Bethlehem, PA; 12,264 sq.ft. to Party City, The Discount
Party Super Store at The Anneslie Mall in Baltimore, MD and 9,100 sq.ft. to Encore Books
at Barn Plaza in Doylestown, PA. Charter
Realty & Development Corp. (203-629-3939) leased 20,726 sq.ft. to Consolidated Stores
for a Big Lots at Country Club Plaza in East Rochester, NY. Developers
Diversified (216-247-4700) leased 84,000 sq.ft. to Kohl's Department Store at Apple
Blossom Corners in Winchester, VA. Real
Estate People Making The News The
Home Depot (770-433-8211) announces that Ken Ubertino has been named president of the
newly created Southwest division which will be established in February 1997. The new division will be based in Dallas, TX and
initially consist of 61 stores in AR, LA, KS, MS, MO, NM, OK and TX. The company also announces that executive vice
president Larry Mercer will assume responsibilities for its Midwest Division. Hechinger
Company (301-925-3008) announces that Stephen F. Guaraldo has joined the company as vice
president, commercial business. J.
Baker, Inc. (617-828-9300) announces that chief executive officer Jerry M. Socol has
resigned. The company named chief financial
officer Alan I. Weinstein as acting president and chief executive. Darden
Restaurants, Inc. (407-245-4000) announces that Kirk Spresser, president of Red Lobster
has resigned. Darden president Jeffrey O'Hara
has been named interim president of Red Lobster. The
Hausman Companies (216-464-5900) announces that Jim Weiss has joined the company as a
leasing associate/restaurant specialist. He
will be responsible for representing national and regional restaurant chains in their real
estate efforts. Konover
Development Corporation (203-523-9180) announces that John Larson has joined the company
as vice president of development. He will be
responsible for the development, redevelopment and acquisition of retail shopping center
projects. The company also announces that R.
Michael Goman has joined as executive vice president and chief operating officer. His responsibilities include overseeing the
operations in development, acquisition, leasing, construction, management, accounting and
financial, human resources, marketing and legal services. The
Linder Company (317-844-5313) announces that Ryan E. Zickler has joined the company as a
leasing representative. Robinson
Sigma Commercial Real Estate, Inc. (757-640-7130) announces the promotion of Anthony W.
Smith to president and the appointment of J. Scott Adams to the company's executive
committee. Lead
Sheet Al's
Formal Wear of Houston dba
Ascot Tuxedo, Bride's Mart, Al's
Formal Wear, AB Graham, Louise Blum Ellis
Rushefsky 7807
South Main Houston,
TX 77030 713-791-1888,
Fax 791-1692 Apparel The
62-unit chain operates locations in LA and TX. The
stores, selling and renting bridalwear and tuxedos, occupy spaces of 1,000 sq.ft. to 8,400
sq.ft. in regional malls and strip centers. Plans
call for as many as six openings in the coming 18 months.
Expansion will take place in the existing markets. Yarings,
Inc. dba
Yarings Tom
Etts 506
Congress Avenue Austin,
TX 78768 512-452-5757,
Fax 452-4630 Apparel The
six-unit chain operates locations in TX. The
stores, selling better missy, junior and children's apparel, occupy spaces of 10,000
sq.ft. in strip centers. Growth opportunities
are sought in the existing market. Cottman
Transmission Systems, Inc. dba
Cottman Transmission Nancy
Semen 240
New York Drive Fort
Washington, PA 19034 800-394-6116,
Fax 215-643-2519 Automotive The
180-unit chain operates locations nationwide. The
automotive service centers, specializing in transmission repairs, occupy spaces of 2,500
sq.ft. to 4,000 sq.ft. in freestanding facilities and strip centers. Growth opportunities are sought nationwide. Family
Bookstores Co., Inc. dba
Family Bookstores Bill
Morin 5300
Patterson Avenue S.E. Grand
Rapids, MI 49530 616-554-8616,
Fax 554-8632 Books The
183-unit chain operates locations nationwide. The
Christian theme bookstores, which also sell gifts, music and cards, occupy spaces of 4,000
sq.ft. in strip centers. Preferred anchors
include regional discount stores and super-regional malls.
Plans call for 25 openings in the coming 18 months.
Expansion will take place in the Midwestern and Southern regions. Preferred demographics include a five-mile
population of 100,000 earning $35,000 as the average income. Leases running seven to 10 years are typical. Crowncen
Marketing Co. dba
Crown, Fast Fare, Zippy Mart Bob
Fritz PO Box
1168 Baltimore,
MD 21203 410-659-4841,
Fax 659-4734 Convenience
Store The
350-unit chain operates locations in AL, GA, MD, NC, PA, SC and VA. The convenience stores, which also sells gasoline,
occupy spaces of 3,000 sq.ft. in freestanding facilities on land areas of 40,000 sq.ft. Plans call for 30 openings in the coming 18
months. Expansion will take place in the
existing markets. The company prefers to
locate its stores on roads having traffic counts of 20,000 cars per day. Leases running 10 years, with four options
running five years each, are typical. Griffith
Petroleum Co. dba
Griffith Gas Up Jim
Griffith 312
South Duck Street Stillwater,
OK 74074 405-372-7665,
Fax 372-2823 Convenience The
13-unit chain operates locations in OK. The
convenience stores, which also sell gasoline, occupy spaces of 2,500 sq.ft. in
freestanding facilities. Growth opportunities
are sought in the Southern region. Prestige
Fragrance & Cosmetics, Inc. John
Quinn 2182
Route 35 Holmdel,
NJ 07733 908-888-4223,
Fax 739-1546 Cosmetics The
184-unit chain operates locations nationwide. The
cosmetic stores occupy spaces of 1,500 sq.ft. to 2,500 sq.ft. in outlet centers. Plans call for 30 openings in the coming 18
months. Expansion will take place nationwide. Leases running five to seven years are typical. Thriftway
Associates dba
Vanderveer Pharmacy Paul
Braun 156-36
Cross Bay Boulevard Howard
Beach, NY 11414 718-835-2000,
Fax 835-5361 Drug
Store The
30-unit chain operates locations in NY. The
pharmacies occupy spaces of 8,000 sq.ft. to 12,000 sq.ft. in downtown store fronts. Preferred anchors include supermarkets. Plans call for three openings in the coming 18
months. Expansion will take place in NY. The company, which cites Rite Aid and Genovese as
competition, typically signs leases running 20 years. PC
Richard and Son dba PC
Richard Alan
Meschkow 150
Price Parkway Farmingdale,
NY 11735 516-843-4300,
Fax 843-4479 Electronics The
36-unit chain operates locations in NJ and NY. The
electronics stores occupy spaces of 18,000 sq.ft. to 35,000 sq.ft. in freestanding
facilities. Plans call for as many as five
openings in the coming 18 months. Expansion
will take place in the existing markets. Sony
Retail Group dba
Magic Johnson Theaters Kenneth
Lombard 9100
Wilshire Beverly
Hills, CA 90212 310-247-1994,
Fax 247-0733 Entertainment The
company operates one location in CA. The
movie theaters is seeking spaces running 56,000 sq.ft. to 58,000 sq.ft. in a variety of
real estate settings. Growth opportunities
are sought in urban areas nationwide. Paterson
Silks Althea
Willby 36-36
Main Street Flushing,
NY 11354 718-359-3082,
Fax 353-8699 Fabric The
six-unit chain operates locations in NY. The
fabric stores occupy spaces of 5,500 sq.ft. in freestanding facilities. Plans call for as many as three openings in the
coming 18 months. Expansion will take place
in the existing market. Select
Comfort Corporation dba
Select Comfort John
Bradbury 6105
Trenton Lane North Minneapolis,
MN 55442 612-551-7174,
Fax 551-7830 Furniture The
140-unit chain operates locations nationwide. The
stores, selling adjustable-firmness mattresses, occupy spaces of 800 sq.ft. in regional
malls. Plans call for 120 openings in the
coming 18 months. Expansion will take place
nationwide. Family
Bargain Corp. dba
Factory To You, General
Textiles, Family Bargain Donna
Lewis 4000
Ruffin Road San
Diego, CA 93123 619-627-1800,
Fax 637-4199 General
Merchandise The
149-unit chain operates locations in AZ, CA, NM, NV, OR, TX and WA. The stores, selling general merchandise, apparel
and housewares, occupy spaces of 10,000 sq.ft. to 18,000 sq.ft. in regional malls and
strip centers. Plans call for 45 openings in
the coming 18 months. Expansion will take
place in the existing markets. American
Women Fitness Centers Jerry
Brunetto 440
Market Street Elmwood
Park, NJ 07407 201-796-7300 Health
& Fitness The
five-unit chain operates locations in NJ. The
health and fitness centers occupy spaces of 6,000 sq.ft. to 10,000 sq.ft. in strip
centers. Plans call for two openings in the
coming 18 months. Expansion will take place
in NJ and NY. Stine
Lumber Co. dba
Stine Lumber Co., Home & Yard Gary
Stine 1509
Huntington Street Sulphur,
LA 70663 318-527-0121,
Fax 527-2712 Home
Center The
company operates five Stine Lumber Co. stores and one Home & Yard store all in LA. The stores occupy freestanding spaces of up to
45,000 sq.ft. Growth opportunities are sought
in the Southern region for Stine Lumber Co. and one opening is planned in LA for Home
& Yard. Nacco
Industries dba
Kitchen Collection Larry
White 71
East Water Street Chillicothe,
OH 45601 614-773-9150,
Fax 773-9502 Housewares The
144-unit chain operates locations nationwide. The
stores, selling kitchenware and housewares, occupy spaces of 3,500 sq.ft. in outlet
centers. Plans call for as many as 20
openings in the coming 18 months. Expansion
will take place nationwide. Hyman
Companies dba N.
Hyman Jewels, Landau Collection Jody
Arena 833
North 13 Street Allentown,
PA 18102 610-433-4114,
Fax 433-2790 Jewelry The
40-unit chain operates locations nationwide. The
jewelry stores occupy spaces of 300 sq.ft. to 1,500 sq.ft. in downtown store fronts and
regional malls. Growth opportunities are
sought worldwide. Music
& Arts Centers, Inc. dba
Music & Arts Center Ken
O'Brien 12312
Wilkins Avenue Rockville,
MD 20852 301-881-7760,
Fax 816-9078 Music The
22-unit chain operates locations in GA, MD, NC and VA.
The stores, selling musical instruments, sheet music and accessories as well as
offering music lessons, occupy spaces of 3,000 sq.ft. in power and strip centers. Preferred anchors include T.J. Maxx, Wal*Mart and
supermarkets. Plans call for as many as three
openings in the coming 18 months. Expansion
will take place within the existing markets and SC, specifically in the markets of
Atlanta, GA; Charlotte and Raleigh-Durham, NC. Demographics
include a population of 100,000 within 10 miles earning $45,000 as the average household
income. Leases running seven years are
typical. Wild
Bird Centers of America dba
Wild Bird Centers, Wild Bird Crossings Howard
Margolis 7370
MacArthur Boulevard Glen
Echo, MD 20812 800-945-3247,
Fax 301-320-6154 Specialty The
company operates 82 Wild Bird Centers throughout North America and 23 Wild Bird Crossing
stores nationwide. The stores, which sell
wild bird feed and care supplies, occupy spaces of 1,000 sq.ft. to 3,000 sq.ft. in
regional malls and power centers. Growth
opportunities for both concepts are sought in MA, RI, CT, PA, NJ, DE, VA, NC, SC and GA. Terry
Sports Doug
Terry PO Box
881296 Steamboat
Springs, CA 80488 970-879-8414,
Fax 879-7664 Sporting
Goods The
five-unit chain operates locations in CO and NM. The
stores, selling ski equipment and related goods, occupy spaces of 2,000 sq.ft. to 5,000
sq.ft. at ski resort areas. Growth
opportunities are sought in the existing markets. Stalker,
Inc. dba
Sports Stalker, Christy's Patrick
O'Winter PO Box
772968 Steamboat
Springs, CO 80477 970-879-4536,
Ext. 107, Fax 879-1821 Sporting
Goods The 35-unit chain operates locations in CO and UT. |