|
Issue Number 35
|
|
The Dealmakers Issue Number 35 for the week of September 25, 1998 Sporting Goods Tenants Expanding Nationwide Retail Concepts does business as Sun & Ski Sport at 16 locations in FL, MO, OH, OK and TX. The stores, offering sporting goods and interactive entertainment zones, occupy spaces of 20,000 sq.ft. in power and specialty centers. Plans call for three openings in the coming 18 months. Expansion will take place within the existing markets and/or contiguous states. Preferred demographics include a population of 200,000 within seven miles earning $70,000 as the average income. Leases running 10 years are typical. For more information, contact Barry Goldware, Retail Concepts, 4004 Westhollow Parkway, Houston, TX 77082; 281-497-7811, Fax 870-8947. Oshman’s Sporting Goods, Inc. trades as Oshman’s and Super Sports USA at 50 locations nationwide. The sporting goods stores occupy spaces of 50,000 sq.ft. to 75,000 sq.ft. in power centers and regional malls. Plans call for 12 openings in the coming 18 months. Expansion will take place nationwide. For more information, contact Martin Moskowitz, Oshman’s Sporting Goods, Inc., 31368 Via Colinas #110, Westlake Village, CA 91362; 818-865-2425, Fax 865-8934 (for AZ, CA, NV, OR & WA). For all other states, contact Steve Rath at (713-967-8289), Fax (967-8286). The Sports Authority operates 223 stores nationwide. The sporting goods stores, which also sell sports apparel, occupy spaces of 43,000 sq.ft. in freestanding facilities and power centers. Plans call for 60 openings in the coming 18 months. Expansion will take place nationwide. Preferred demographics include a population of 300,000 within 10 miles earning $35,000 as the average income. Leases running 10 years are typical. For more information, contact Mark Walker, The Sports Authority, 3383 North State Road #7, Fort Lauderdale, FL 33319; 954-735-1701, Fax 730-4333. Sunny’s Great Outdoors, Inc. trades as Sunny’s Affordable Outdoor Store at 26 locations in MD, PA, VA and Washington, D.C. The stores, offering family camping gear, fishing equipment, paintball, canoes, kayaks, military apparel and a travel department, occupy spaces of 6,500 sq.ft. to 7,500 sq.ft. in freestanding facilities, power and strip centers. Plans call for as many as 14 openings in the coming 18 months. Expansion will take place in DE, MD, PA, VA and Washington, D.C. Leases running five years, with three five-year options, are typical. For more information, contact John Reier, Sunny’s Great Outdoors, Inc., 7540 Washington Boulevard, Baltimore, MD 21227; 410-799-4900, Fax 799-4907. R.E.I. Co-Op trades as R.E.I. at 44 locations nationwide. The stores, selling outdoor sporting goods and apparel, occupy spaces of 30,000 sq.ft. in freestanding facilities. Plans call for three openings in the coming 18 months. Expansion will take place nationwide. For more information, contact Brian Cannard, R.E.I. Co-Op, PO Box 1938, Sumner, WA 98390-0800; 253-395-3780, Fax 395-4756. Who’s Opening & Where General Cinema Theaters (617-264-8000) plans to open General Cinema Pacific Place 11 at Pacific Place in Seattle, WA and Parkway Pointe 15 in Marietta, GA during November and Owings Mills 17 in Baltimore, MD; Irving Mall 14 in Dallas, TX and Plymouth Meeting 12 in Philadelphia, PA during December. In addition, the company is planning to open movie theaters in Chicago, IL; at Mayfair Mall in Milwaukee, WI; at Barton Creek Square in Austin, TX and at Clifton Commons in Clifton, NJ during the first half of 1999. Gateway 2000, Inc. (605-232-2000) recently opened Gateway Country stores in North Richland Hills and Arlington, TX. Stores in Dallas and Plano are expected to open during Fall. Eckerd Drug Stores (813-399-6355) recently opened stores in Ft. Myers Beach, Pensacola, Orlando, St. Petersburg, Avon Park, Navarre, Jacksonville and Hillsborough County, FL. The company is also planning to open an 11,200 sq.ft. drug store in Wilkes-Barre, PA. Omaha Steaks (800-960-8400), which operates 42 stores in 10 states, is planning to open 10 stores in Atlanta, GA; Chicago, IL; Phoenix, AZ; Rochester, MN; Darien, CT and Larchmont, NY before Thanksgiving. The company is planning to open as many as 15 stores annually in the coming years. The stores will average 1,000 sq.ft. and will be located in strip centers. Banana Republic (415-952-4400) recently opened a men’s clothing store adjacent to a Banana Republic women’s clothing store in downtown Charleston, SC. The company is also planning to open its first outlet stores at Fashion Outlet of Las Vegas in Las Vegas, NV; Woodbury Commons in Central Valley, NY and Leesburg Premium Outlets in Leesburg, VA during November. The company is looking to be operating as many as 20 outlet stores in the coming few years. Blinds To Go (201-964-1881) recently opened a store in Paramus, NJ. As many as 40 additional stores are planned for the East Coast. Kroger Co. (513-762-4000) plans to open a 60,000 sq.ft. supermarket in Aboite Township, IN during late Spring 1999. Wal*Mart Stores (501-273-4000) is looking to develop a 109,000 sq.ft. store in Ephraim, UT. The company recently opened a 149,000 sq.ft. Supercenter in Trinidad, CO. Hard Rock Cafe (407-351-6000) plans to open an 8,000 sq.ft. restaurant at Morrison Opera Place in downtown Indianapolis, IN. Ralph Grocery Co. (310-884-2875) plans to open a 54,000 sq.ft. Food 4 Less supermarket at Spreckels Plaza in Manteca, CA during Summer 1999. Crate & Barrel (708-272-2888) plans to open a 35,000 sq.ft. store at Scottsdale Fashion Square in Scottsdale, AZ this month. T.G.I. Friday’s (214-450-5400) plans to open a 4,600 sq.ft. restaurant at Owensboro Towne Square Mall during June 1999. CEC Entertainment Inc. (214-258-8507) recently filed a plan to renovate an 11,265 sq.ft. former Walgreens store in Bradenton, FL into a 380-seat Chuck E. Cheese restaurant. CEC operates and franchises 318 units in 44 states. ShopKo Stores, Inc. (920-429-7234) is planning to open 13 stores in IL, IN, IA, KS, KY and MO during 1999. Ten of the stores are former Venture Store locations. Included in the openings will be three new states of operation for ShopKo: IN, KS and KY. The company currently operates 147 stores in 16 states. Ziebart International (248-588-4100), which operates more than 600 locations in 44 countries, plans to roll out a new concept with two stores in Royal Oak and Madison Heights, MI. The company’s new look forsakes that blue and gold corporate colors and introduces a new red sign and red facia accent. The new look is designed to help change the Ziebart image from rustproofing to the Zeibart of the future, offering a complete array of automotive accessories and car-protection services. The new design will be rolled out worldwide. Kinko’s (805-652-4000) plans to open 6,500 sq.ft. and 6,900 sq.ft. stores in Fort Wayne, IN before the end of the year. In addition, the company is planning to open stores in Evansville, Terre Haute and Merrillville, IN before the end of the first quarter of 1999. Starbucks (206-447-7954) recently opened its first full-service restaurant in Madison Park, WA. Known as Cafe Starbucks, the unit seats 65 and offers hot meals, desserts, coffee liqueurs and table service. Three more units are planned this year for Seattle and West Seattle. If successful, the company plans to expand the concept into other cities. Food Lion (704-633-8250) plans to open a 38,000 sq.ft. supermarket across from Rock Hill Galleria in Rock Hill, SC. Apple South, Inc. (706-342-4552) plans to open more than 200 restaurants in the coming three fiscal years: 59 during 1999, 73 during 2000 and 86 during 2001. Growth will take place within the company’s four core brands, Canyon Cafe, Don Pablo’s, Hops Restaurant Bar & Brewery and McCormick & Schmick’s. Currently, the company operates 18 Canyon Cafes, 117 Don Pablo’s, 43 Hops Restaurants and 21 McCormick & Schmick’s. Williams-Sonoma, Inc. (415-421-7900) plans to open a 4,700 sq.ft. Williams-Sonoma store and a 9,000 sq.ft. Pottery Barn store at MacArthur Center in Norfolk, VA during March 1999. Home Depot (770-433-8211) recently received approval from the Roanoke County Board of Supervisors to develop a 130,000 sq.ft. store in Roanoke, VA. The approval is a reversal of an August decision which denied a rezoning request. A recent new vote approved the rezoning request to allow the store. Regal Cinemas, Inc. (423-922-1123) plans to open a 10-screen, 50,000 sq.ft. cinema at Village Center in the Old Mill District of Bend, OR during September 1999. Regal plans to eventually expand the theater to 16 screens. Quzino’s Corp. (303-291-0999) CA franchisee Ardag Tachian has purchased the area director rights to develop Quizno’s Classic Subs restaurants in AK. Tachian plans to develop 12 stores in AK in the coming five to six years. New Construction Grosvenor International recently contracted to acquire a 25.1 acre site known as Coral Center in Sacramento, CA, from a partnership of Raley’s Inc. and Sacramento Coca-Cola Bottling Co., for the development of Natomas Village Shopping Center. The 250,000 sq.ft. project will be designed to compliment Natomas Marketplace, a 560,000 sq.ft. power center anchored by Wal*Mart, Home Depot, Ross, Staples, PetsMart, Applebee’s, On The Border and a 16-screen movie theater, which is being developed by Donahue Schriber at the intersection of Truxel Road and Interstate 80. Nearly 19 acres of the Natomas Village site will need a community plan amendment and zoning change to allow the shopping center project. The rest, originally planned as a hotel site, already has appropriate zoning. Grosvenor is looking to land sporting goods, electronics/computers, home accessories/linens, book/music stores and restaurants to their proposed project. A targeted opening date of late 1999 or early 2000 is planned. The project would give the enclave in North Natomas nearly one million sq.ft. of shopping centers. For more information, contact David Olson at (415-434-0175). Word Meany Venture LLC is developing Broadway Pointe Shopping Center in Walnut Creek, CA. The 80,000 sq.ft. project will be anchored by Restoration Hardware, Pottery Barn, Williams Sonoma, Eddie Bauer, Il Fornaio, Starbucks and Jamba Juice. A November opening is planned. For more information, contact Jane Reid of Reid Marketing Services at (925-938-6898) or Pam Longbine, Retail Marketing Consultant at (650-364-4898). Devcon Enterprises, Inc. recently broke ground on phase II of The Marketplace at Port St. Lucie in Port St. Lucie, FL. Phase II will be anchored by a 10,000 sq.ft. Goodwill Boutique and SuperCuts. Negotiations are underway with additional tenants for the remaining space. The $13 million, 155,559 sq.ft. project is anchored by Wal*Mart, Winn-Dixie, Dollar Tree, One Price Clothing, Shoe World, Regency Jewelers, Cici’s Pizza, Mail Boxes Etc. and Wendy’s. A 43,000 sq.ft. phase III is expected to break ground by the end of the year and will have space available for a junior anchor tenant as well as in-line spaces. For more information, contact J.R. Cody at (860-521-6999), Fax (521-6789). Lincoln Property Co. is planning to develop Gateway Plaza in Southlake, TX. The 330,000 sq.ft., $30 million project is expected to include five major anchor stores in 15 buildings on the 42-acre site bordered by Texas 114 and Southlake Boulevard. Projected anchors include department stores, a supermarket, a bookstore, a furniture store and an office supply store. The largest store is expected to be 85,000 sq.ft. If all of the approvals are granted, construction could begin as soon as this Fall with a Fall 1999 opening planned. The shopping center ties into the city’s planned rennovations for Texas 114 over the next few years. Part of the bid package expected to be awarded by the Texas Department of Transportation in May 1999 includes a bridge that will span Texas 114 and link Grapevine’s Northwest Highway to the shopping center’s property. A city-built road would extend through the complex, connecting the bridge to Southlake Boulevard and forming a four-way intersection at Commerce Street. For more information, contact Robert Dozier at (214-740-3300). Graham Development Corporation is developing Crown Point Plaza in Knoxville, TN. The 450,000 sq.ft. project will be anchored by Target and a 150,000 sq.ft. Lowe’s Home Center. A pad site of 100,000 sq.ft., as well as two outlots, remain available for lease. For more information, contact Graham Development Corporation at (423-683-7000), Fax (539-6331). Mergers & Acquisitions Rent-Way, Inc. (814-876-5055) and Home Choice Holdings, Inc. recently signed a definitive agreement pursuant to which Home Choice will merge into Rent-Way. Upon closing of the deal, Rent-Way will become the second largest company in the rental-purchase industry operating 847 stores in 32 states. Under the agreement, Home Choice shareholders will receive an aggregate of approximately 9.99 million shares of Rent-Way’s common stock. The company also announces that it has completed the acquisition of the assets of Cari Rentals, a 23-unit rental-purchase chain trading as Budget Rentals and Cari Rentals in IA, MO, NE and SD for $7 million. Reeds Jewelers, Inc. (910-350-3100) recently acquired five jewelry stores in two transactions. The first store was acquired from a Southeastern operator and is located at Augusta Mall in Augusta, GA. The remaining four stores were acquired from a small Midwestern chain and are located at Valley West Mall, Merle Hay Mall and Southridge Mall in the Des Moines, IA market and at Coral Ridge Mall in Iowa City, IA. The four IA stores mark Reed’s initial entry into the state. Intrawest Corporation (604-669-9777) recently acquired Breeze, Inc. and Max Snowboards, Inc., both based in CO, which will add 43 stores to its 122 ski and snowboard equipment rental stores. ICH Corporation (888-826-6424) recently reached an agreement to acquire Lyon’s Restaurants, Inc. for $22 million in cash. The agreement contemplates the purchase of the assets through a bankruptcy court-approved sales as part of Lyon’s chapter 11 proceedings and is subject to the bankruptcy court’s approval. Lyon’s, a privately-held company established in 1913, owns and operates 77 full-service family restaurants located primarily in Northern CA. The assets being acquired by ICH include substantially all of Lyon’s tangible and intangible assets, including the trademark, its leasehold interests, real estate improvements and restaurant equipment. Of the $22 million purchase price, up to $19 million is being financed by U.S. Restaurant Properties and AMRESCO Commercial Finance, Inc. through leasehold mortgage and equipment financing. ICH is a DE holding corporation which, through its operating subsidiaries, is the second largest operator of Arby’s restaurants, currently operating 178 Arby’s units in CA, FL, MI, PA and TX. Food Tenants Hungry for Sites Nationwide Faz Restaurant Management, Inc. trades as Faz Restaurant and Catering at seven locations in CA. The fine dining restaurants occupy spaces of 5,000 sq.ft. in freestanding facilities. Preferred co-tenants include hotels. Plans call for as many as five openings in the coming 18 months. Expansion will take place in the existing market. Leases running 15 years are typical. For more information, contact Faz Poursohi, Faz Restaurant Management, Inc., 5121 Hopyard Road, Pleasanton, CA 94588; 510-469-1600, Fax 469-1604. Filippi’s Pizza Grotto operates 10 locations in CA. The pizza restaurants occupy spaces of 4,000 sq.ft. in freestanding facilities and strip centers. Growth opportunities are sought in the existing market. Leases running 10 years, with options, are typical. For more information, contact William DePhilippis, Filippi’s Pizza Groto, 9969 Mira Mesa Boulevard, Suite 5, San Diego, CA 92131; 619-586-0888, Fax 695-8591. Villa Enterprises Management trades as Villa Pizza and Villa Pizza Cucina at 100 locations in 32 states, Italy and England. The pizza restaurants occupy spaces of 500 sq.ft. to 1,600 sq.ft. in downtown store fronts, outlet centers and regional malls. Plans call for 20 openings in the coming 18 months. Expansion will take place nationwide. Leases running 10 years are typical and the company is franchising. For more information, contact Biagio Scotti, Villa Enterprises Management, 17 Elm Street, Morristown, NJ 07960-4109; 973-285-4800, Fax 285-5252. Juicy Lucy’s, Inc. trades as Juicy’s Lucy’s at 21 locations in FL, IN and WI. The fast food, double drive-thru restaurants occupy spaces of 1,000 sq.ft. in freestanding facilities and regional malls. Plans call for 30 openings in the coming 18 months. Expansion will take place in the Southeastern and Western regions. Preferred demographics include a population of 20,000 within three miles earning $35,000 as the average income. Leases running five years, with options, are typical and the company, which is franchising, prefers a vanilla shell. The company cites Checker’s and Rally’s as competition. For more information, contact Tony Foster, Juicy Lucy’s, Inc., 6600 North Andrews Avenue, Suite 350, Fort Lauderdale, FL 33309; 954-772-3444, Fax 771-7118. Pizza Properties, Inc. trades as Peter Piper Pizza at 39 locations in NM and TX. The pizza restaurants occupy spaces of 10,000 sq.ft. to 16,000 sq.ft. in freestanding facilities and strip centers. Preferred anchors include Kmart, Target, Wal*Mart, off-price retailers and supermarkets. Plans call for 15 openings in the coming 18 months. Expansion will take place in NM, OK and TX. Preferred demographics include a population of at least 75,000 within three miles. Leases running 10 years, with two five-year options, are typical and the company cites Chuck E. Cheese, Pizza Hut, Little Caesar’s and Papa John’s as competition. For more information, contact J. Kirk Robison, Pizza Properties, Inc., 4401 North Mesa #100, El Paso, TX 79902-1107; 915-544-8565, Fax 544-8586. Trail Dust Steak House, Inc. trades as Trail Dust Steak House at seven locations in CO and TX. The steakhouses occupy spaces of 12,500 sq.ft. in freestanding facilities. Growth opportunities are sought in the existing markets. For more information, contact Simon Ng, Trail Dust Steak House, Inc., 1600 East Lamont Boulevard, Arlington, TX 76011; 817-860-0224, Fax 274-6124. Mr. Goodcents Franchise Systems, Inc. does business as Mr. Goodcents Subs and Pastas at 116 locations in AR, AZ, CA, CO, FL, IL, KS, KY, MI, MO, NE, NV, OK, SD and TX. The restaurants, serving submarine sandwiches and pasta, occupy spaces of 1,400 sq.ft. to 2,000 sq.ft. in freestanding facilities and strip centers. Preferred anchors include Wal*Mart, supermarkets and video stores. Growth opportunities are sought nationwide. Preferred demographics include a population of 30,000 within three miles earning $30,000 as the average income. The company is franchising and prefers a vanilla shell. For more information, contact Richard Nichols, Mr. Goodcents Franchise Systems, Inc., 16210 West 110th Street, Lenexa, KS 66219; 913-888-9800, Fax 888-8477. Clyde Bruner Enterprises trades as Krispy Chic at 13 locations in GA. The fast food restaurants occupy spaces of 1,800 sq.ft. to 2,000 sq.ft. in freestanding facilities and strip centers. Growth opportunities are sought in the existing market. For more information, contact Clyde Bruner, Clyde Bruner Enterprises, Route 3 Box 197A, Metter, GA 30439; 912-354-1197. Financial News Lechters, Inc. (201-481-1100) reported a second quarter net loss of $3.8 million compared to a net loss of $3.3 million during the second quarter last year. Total sales for the quarter fell 3.9% to $91.4 million. By division, sales in the Lechters Housewares division fell 2.8% to $69.9 million and sales in the Famous Brands Housewares Outlets fell 7.2% to $21.5 million. Total comparable store sales fell 1.3% for the quarter. During the quarter, the company opened four stores and closed seven. Currently, the company operates 453 Lechters stores and 159 Famous Brands Housewares Outlet stores in 44 states. Michaels Stores, Inc. (214-409-1477) reported that its second quarter net income was $634,000, compared to a net loss of $2.9 million during the second quarter last year. Sales for the quarter increased 13% to $314.2 million from $278 million last year with comparable store sales up seven percent. During the quarter, the company opened 17 stores and currently operates 483 Michaels stores in 45 states and Canada and 75 Aaron Brothers stores, located primarily in CA. World of Science, Inc. (716-475-0100) reported that its second quarter sales increased 3.7% to $8.6 million from $8.3 million last year. Net loss for the quarter was $1.2 million, compared to a net loss of $864,000 last year. Comparable store sales increased 0.5% for the quarter. During the quarter, the company opened eight permanent stores and currently operates 67 permanent stores and 56 seasonal stores which sell science and nature products. JC Penney Company, Inc. (972-431-1000) recently responded by saying there is no truth to the rumor that the company is planning to sell or dispose of its Eckerd Corporation subsidiary. The Mills Corp. (703-526-5000) recently filed suit against Simon DeBartolo Group and Chelsea GCA Realty to block construction of Houston Premium Outlets in Houston, TX. In the suit, Mills alleges that under a 1995 joint-venture agreement, Simon cannot develop such projects without Mills, which is building Katy Mills in nearby Katy, TX. Both projects are set to open during late 1999. Simon DeBartolo responded to the suit by saying that their project is not a value-oriented Mills-type megamall. Oshman’s Sporting Goods, Inc. (713-928-3171) reported that its second quarter net income was $3.4 million, compared to a net loss of $1.3 million during the second quarter last year. The increase was primarily attributed to the sale of real estate. Net sales for the quarter fell 4.7% to $79 million from $82.9 million last year. Comparable store sales fell 5.3% for the quarter. The company currently operates 67 sporting goods stores. Fabri-Centers of America, Inc. (330-656-2600) recently changed its corporate name to Jo-Ann Stores, Inc. In connection with the new corporate name, the company’s two classes of stock will now trade on the New York Stock Exchange under the new ticker symbols JAS.A and JAS.B. Barney’s, Inc. (212-239-7300), Whippoorwill Associates, Bay Harbour Management L.C. and the Official Committee of Unsecured Creditors recently filed a consensual plan of reorganization with the United States Bankruptcy Court. The plan provides an infusion by creditors of up to $68 million in cash equity. A confirmation hearing for the plan is expected to be scheduled for early December. Chico’s FAS, Inc. (941-277-6200) reported that its second quarter net income was $2.7 million, compared to net income of $1 million during the second quarter last year. Net sales for the quarter increased 36.2% to $27.4 million from $20.1 million last year and comparable store sales increased 23% for the quarter. The company operates 151 women’s apparel stores in 35 states. Shoney’s, Inc. (800-626-5630) reported a third quarter loss of $83.1 million, compared to net income of $8.8 million during the third quarter last year. Net sales for the quarter fell to $268.2 million from $288 million last year. During the quarter, the company closed 58 restaurants and currently operates and franchises 1,334 units. Edison Brothers Stores, Inc. (314-331-6800) reported a second quarter net loss of $14.9 million, compared to net income of $200,000 during the second quarter last year. Net sales for the quarter fell to $204.9 million from $236.6 million last year and comparable store sales fell 7.6% for the quarter. The company currently operates 1,600 stores trading as Bakers and Wild Pair footwear; 5-7-9 junior apparel stores; Riggings, JW, Coda, Oaktree and Repp Ltd. Big & Tall menswear stores; and Repp By Mail men’s catalog. Closings Shoney’s, Inc. (615-231-2332) has closed 23 Shoney’s restaurants, 13 Captain D’s, five Pargo’s and one Fifth Quarter so far this year. During the third quarter, the company is planning to close 33 Shoney’s units and sell 12 Shoney’s restaurants located in TX. Luby Cafeterias, Inc. (210-654-9000) is planning to close 14 underperforming restaurants in the coming year. In addition, the company plans to relocate as many as 18 restaurants to sites in higher growth areas in cities where they are located. E.B. Mott Co. (214-339-5113) plans to close its remaining 23 Mott’s Five Ten & Twenty-Five Cent stores in TX. The company, which at one time, operated more than 70 stores, cited increased competition from retailers such as Wal*Mart as its reason for liquidating the chain. Crown Books (301-731-1200) plans to close its Super Crown bookstores in Downingtown, Langhorne and Warminster, PA and in Cherry Hill, NJ. The Warminster store was opened in December 1997. Lowe’s Co. (910-658-4223) plans to close its 12,000 sq.ft. store in Thomson, GA. The store is being closed as part of the company’s strategy to focus on its super store format. The company has operated the store since 1988. Rite Aid (717-761-2633) recently closed its store at Fremont Village Square in Seattle, WA. The company said that the store was unprofitable as its reason for the closure. CompUSA, Inc. (972-982-4000) plans to close 50 of the 101 Computer City stores it recently acquired from Tandy Corp. CompUSA has hired a liquidation company to begin the closure sales and once the sales are completed, the company will shut the stores. CompUSA said that the stores are being closed based on their location and performance. Rice Food Markets (713-662-7745) plans to close or sell all of its Grocery World, Pricebusters and Rice Food Market stores, 12 in all, in TX. The company is closing the stores in order to concentrate on its upscale Rice Epicurean Markets, of which eight are currently open with plans to add a ninth next month. The company is also planning to change its corporate name to Rice Epicurean Markets. Real Estate Professionals Making The News Mothers Work, Inc. (215-873-2200) announces the appointment of William Schwartz Jr. to its board of directors. Schwartz is president of U.S. Vision, Inc. Smith Braedon*ONCOR International (202-775-7600) has appointed Lawrence Leber as president of the company’s new division, Smithy Braedon*ONCOR International Property Services. Assisting Leber will be Katya Naman as senior vice president and managing director of property services and Andrew Eichberg as assistant vice president. Applebee’s International, Inc. (913-967-4000) announces that Lawrence Folk has been appointed president and chief executive officer of its Rio Bravo International, Inc. division. The company also announces that Julia Stewart has been appointed president of its Applebee’s division. Most recently, Stewart was national vice president of franchise and license for Taco Bell. Bally Total Fitness (773-399-7600) announces that Howard Schwartz has been named assistant vice president, retail operations and that Amy Shulman has been named senior director, corporate development. Ross Stores, Inc. (510-505-4400) announces that Lawrence Higby has been elected to its board of directors. Higby is president and chief operating officer of Apria Healthcare Group, Inc. Combined Properties, Inc. (202-293-4500) announces that Thom McKee has re-joined the company as senior vice president of leasing. McKee will be responsible for overseeing the leasing activities of the company’s portfolio. The Schultz Organization (732-855-0001) announces that Todd Lowe has joined the company as a senior broker associate. Restoration Hardware, Inc. (415-945-3549) announces the promotion of Thomas A. Christopher to president and chief operating officer. Christopher has served as executive vice president, chief operating officer and director of Restoration Hardware since June 1994. Crown American Realty Trust (814-536-4441) announces that its Board of Trustees has named Mark Pasquerilla, president of the company since 1990, to vice chairman and president. John Kriak, executive vice president and chief financial officer since 1995, has been named vice chairman and chief operating officer. In addition, Terry Stevens, senior vice president and chief accounting officer, has been named chief financial officer and John Washko, vice president and senior corporate controller, has been promoted to chief accounting officer. Sources of Financing Avalon Financial Group (714-955-6555) recently arranged $2 million in new permanent financing for Brighams Landing Shopping Center in Provo, UT. Northland Financial Co. (714-717-5210) recently placed $3.6 million in financing for Hemet Plaza in Hemet, CA and $2.3 million for Grand Creek Plaza in Covina, CA. M&A West Financial, Inc. (650-588-2678), a subsidiary of M&A West, Inc., recently was approved with the CA Department of Real Estate as a broker/lender. M&A West Financial specializes in commercial real estate financing transactions related to the parent company’s merger and acquisition transactions. These transactions encompass all aspects of debt financing, including cash out, short term loans and loans generally considered difficult because of time constraints. Fresh’n Lite, Inc. (800-259-2675) recently announced that Mid States Realty, L.L.C. has provided a letter of commitment to provide all the necessary capital and financing for build to suits of Street Talk Cafe restaurants in the greater Dallas/Fort Worth, TX metroplex. In addition, Mid States Realty will furnish additional capital for equipment purchases and finish out of new facilities. Holliday Fenoglio Fowler (212-245-2425) recently arranged two short-term floating rate, bridge loans for the Polimeni Organization, L.L.C. to acquire Golden Acres Shopping Center in South Plainfield, NJ and Bricktown Plaza in Bricktown, NJ. Both loans were funded at 90% loan-to-cost and were arranged through AMRESCO Capital, L.P. The 212,268 sq.ft. Golden Acres is anchored by Bradlees and A&P. Bricktown Plaza is anchored by Aldi, Inc. and Sears Appliances. The company has also arranged a refinancing package for MRE Co., owner of The South Bank retail/entertainment complex located in the Riverwalk district of San Antonio, TX. The transaction was funded by GE Capital Access. The South Bank complex is anchored by Hard Rock Cafe, Paesano’s Restaurant, The County Line Restaurant, Fat Tuesday’s, Howl at The Moon and Starbucks. Lead Sheet Apparel The four-unit chain operates locations in IL. The stores, selling swimwear, occupy spaces of 1,200 sq.ft. to 1,600 sq.ft. in regional malls. Preferred anchors include Lord & Taylor. Plans call for two openings in the coming 18 months. Expansion will take place in the existing market. Leases running five years are typical. Lucia, Inc. Apparel The nine-unit chain operates locations in CA, DE, MA, NV, NC and VA. The women’s sportswear stores occupy spaces of 2,000 sq.ft. to 2,500 sq.ft. in outlet and strip centers. Plans call for one opening in the coming 18 months. Expansion will take place in NJ. Leases running three years are typical. A.C. Moore Arts & Crafts, Inc. Arts & Crafts The 38-unit chain operates locations in CT, DE, MD, MA, NJ, NY, PA and RI. The arts and crafts stores occupy spaces of 20,000 sq.ft. to 22,000 sq.ft. in regional malls and strip centers. Preferred co-tenants include Kmart, TJ Maxx and Wal*Mart. Plans call for 25 openings in the coming 18 months. Expansion will take place in the existing markets. Leases running 10 to 15 years are typical and the company prefers turnkey deals. Evenson’s Hallmark Cards Cards & Gifts The 900-unit chain operates locations in CT, DE, FL, GA, MA, ME, NC, NY, PA, SC, TN, VA, UT and Washington, D.C. The card and gift stores occupy spaces of 3,500 sq.ft. to 5,000 sq.ft. in regional malls, power and strip centers. Preferred anchors include TJ Maxx, Wal*Mart and supermarkets. Plans call for 100 openings in the coming 18 months. Expansion will take place nationwide. Preferred demographics include a population of 50,000 within three miles earning $40,000 as the average income. Leases running five years, with a five-year option, are typical. Gas America Services, Inc. Convenience Store The 55-unit chain operates locations in OH and IN. The convenience stores occupy spaces of 3,000 sq.ft. in freestanding facilities. Preferred co-tenants include fast food restaurants. Plans call for six openings in the coming 18 months. Expansion will take place in the existing markets. Jr. Food Stores of West Florida, Inc. dba Tom Thumb Food Stores Convenience Store The 112-unit chain operates locations in AL and FL. The convenience stores occupy spaces of 3,400 sq.ft. in freestanding facilities. Plans call for as many as eight openings in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of 3,000 within three miles earning $15,000 to $45,000 as the average income. Leases running five years, with two five-year options, are typical. Phar-Mor, Inc. Drug Store The 102-unit chain operates locations primarily in NC, OH, PA, VA and WV. The drug stores occupy spaces of 40,000 sq.ft. to 60,000 sq.ft. in regional malls, power and strip centers. Preferred co-tenants include Kmart, TJ Maxx, Wal*Mart and supermarkets. Plans call for as many as three openings in the coming 18 months. Expansion will take place in OH and PA. Preferred demographics include a population of 75,000 within five miles earning $40,000 as the average income. Leases running 15 years, with three five-year options, are typical. Sanrio, Inc. Gifts The 120-unit chain operates locations in AK, AZ, CA, CO, FL, GA, IL, LA, MN, MS, NC, NJ, OK, SC, TX, VA and WA. The gift stores occupy spaces of 1,200 sq.ft. to 2,500 sq.ft. in power centers and regional malls. Preferred co-tenants include Disney, Gymboree and Warner Bros. Plans call for 10 openings in the coming 18 months. Expansion will take place nationwide, exclusive of CA. Leases running 10 years are typical and the company is franchising. Regis Corporation Hair Salon The 3,600+-unit chain operates locations nationwide. The hair salons occupy spaces of 1,000 sq.ft. to 1,200 sq.ft. in regional malls. Plans call for 375 openings in the coming 18 months. Expansion will take place nationwide. Leases running 10 years are typical and the company is franchising. Rooms To Go Home Furnishings The 61-unit chain operates locations in AL, FL, GA, NC, SC and TN. The home furnishings stores occupy spaces of 20,000 sq.ft. to 25,000 sq.ft. in freestanding facilities. Plans call for 14 openings in the coming 18 months. Expansion will take place in the Dallas, TX market. Preferred demographics include a population of 500,000 within 10 miles earning $50,000 as the average income. Crown Hardware, Inc. Home Improvement The nine-unit chain operates locations in CA. The home improvement stores occupy spaces of 10,000 sq.ft. to 15,000 sq.ft. in strip centers. Preferred anchors include supermarkets. Plans call for as many as two openings in the coming 18 months. Expansion will take place in Orange County, CA. Leases running 10 years are typical. Grimes Ace Hardware Co., Inc. Home Improvement The eight-unit chain operates locations in OH. The stores, selling paints, tools, electrical and plumbing supplies, occupy spaces of 15,000 sq.ft. to 17,000 sq.ft. in freestanding facilities and strip centers. Preferred anchors include supermarkets. Plans call for as many as two openings in the coming 18 months. Expansion will take place in central OH. Leases running five to ten years, with options, are typical. Luggage Factory Outlet, Inc. Luggage The 10-unit chain operates locations in FL, ME, NJ, NY, PA and SC. The stores, selling luggage and hand bags, occupy spaces of 2,500 sq.ft. to 3,000 sq.ft. in outlet centers. Plans call for three openings in the coming 18 months. Expansion will take place in FL, NJ and eastern PA. Leases running five years are typical. Cavender’s Boot City Shoes The 40-unit chain operates locations in TX. The stores, selling western boots and related items, occupy spaces of 10,000 sq.ft. to 15,000 sq.ft. in freestanding facilities, power, specialty and strip centers. Plans call for the opening of four units in the coming 18 months. Expansion will take place in LA, NM, OK and TX. Preferred demographics include a population of 100,000 within five miles earning $40,000 as the average income. Leases running five years are typical. Cowboy Chuck Company, Inc. Specialty The 65-unit chain operates locations in CA, FL, GA, IL, IN, IA, KS, LA, MD, MN, MS, MO, NJ, NY, NC, OH, OK, PA, TN, TX and WV. The stores, selling whimsical cartoon picture wall hangings and accessories, occupy spaces of 65 sq.ft. in cart and kiosk spaces in regional malls. Plans call for at least 50 openings in the coming 18 months. Expansion will take place in the Pacific Northwest region. Leases running one year are typical. North American Marketing Corp. Specialty The 34-unit chain operates locations in CT, DE, ME, MD, MA, NH, NY and RI. The stores, selling swimming pools, patio furniture, billiard tables and Christmas tree items, occupy spaces of 13,000 sq.ft. to 18,000 sq.ft. in freestanding facilities and strip centers. Growth opportunities are sought in the existing markets. Leases running five years, with two three-year options, are typical. Pinch A Penny, Inc. Specialty The 113-unit chain operates locations in AL, FL and GA. The stores, selling pool supplies, patio furniture and spas, occupy spaces of 3,500 sq.ft. in freestanding facilities and strip centers. Plans call for as many as 12 openings in the coming 18 months. Expansion will take place in FL. Leases running five years, with a five-year option, are typical. Wills Book & Stationery Co., Inc. Stationery The 10-unit chain operates locations in FL, NC, SC and VA. The stores, selling stationery and office supplies, occupy spaces of 10,000 sq.ft. to 20,000 sq.ft. in regional malls. Growth opportunities are sought in NC, SC, TN and VA. Preferred demographics include a population of 20,000 within five miles earning $38,000 as the average income. Leases running 10 to 20 years are typical. Bashas’, Inc. Supermarket The 62-unit chain operates locations in AZ, CA and NM. The supermarkets occupy spaces of 35,000 sq.ft. to 45,000 sq.ft. in downtown store fronts, freestanding facilities and strip centers. Growth opportunities are sought in AZ. Danielson Food Stores Supermarket The seven-unit chain operates locations in OR. The supermarkets occupy spaces of 30,000 sq.ft. to 45,000 sq.ft. in strip centers. Plans call for one opening in the coming 18 months. Expansion will take place in the existing market. Eagle Food Centers, Inc. Supermarket The four-unit chain operates locations in IL, IN and IA. The supermarkets occupy spaces of 52,000 sq.ft. to 60,000 sq.ft. in freestanding facilities, power and strip centers. Growth opportunities are sought in the existing markets. Preferred demographics include a population of 40,000 within two miles earning $45,000 as the average income. The Game Keeper, Inc. Toys The 70+unit chain operates locations in CA, FL, IL, OR, WA, NY, NJ, NC, SC, MA, MD, OH and VA. The stores, selling games, puzzles and game accessories, occupy spaces of 900 sq.ft. in downtown store fronts, regional malls and strip centers. Plans call for as many as five openings in the coming 18 months. Expansion will take place in Dallas and Houston, TX and Detroit, MI and FL. Preferred demographics include a population of 200,000 within 15 miles earning $40,000 as the average income. Leases running six to ten years are typical. The Great Train Store Corporation Toys The 34-unit chain operates locations nationwide. The stores, selling model trains and accessories, occupy spaces of 1,800 sq.ft. to 2,000 sq.ft. in regional malls and specialty centers. Plans call for at least 20 openings in the coming 18 months. Expansion will take place nationwide. Leases running 10 years are typical. Buyers & Sellers Fraser Enterprises has the listing to sell a 16,708 sq.ft. Rite Aid
Drug Store in CA. The store, which is expected to be completed during April 1999, has a 20
year NN lease with increases every five years. The asking price is $3.55 million and
financing is available. The Keyes Company has the listing to sell four Rite Aid Drug Stores
which are under construction in the Las Vegas, NV area. The stores have 20 year NN leases.
The company has the listing to sell a new CVS Drug Store in eastern PA. The store has a
long term lease. The asking price is $1.17 million. The company has the listing to sell
two newly completed Hollywood Video stores. The stores have 15-year NNN leases with
increases every five years. The company also has the listing to sell a Chili’s
Restaurant in Fort Lauderdale, FL. The store has a NNN lease and percentage rent clause.
The asking price is $1.85 million. Waimea Group, Inc. has the listing to sell LBJ Oates Summit
Shopping Center in Mesquite, TX. The offering includes a 120,000 sq.ft. shopping center
which is 98% leased, and 14+ acres of land. The asking price is $12.8 million. Trammell Crow Company has the listing to sell Valley Plaza in
Aurora, CO. The project is anchored by Target (not included in the sale), PetCo Animal
Supplies, Payless Shoes, Dress Barn, Tutor Time, SuperCuts and Econo Lube-N-Tune.
Projected 1999 NOI is $607,847. H.L. Robert’s Realty & Associates has the listing to sell
1.88 acres of land in Marion County, FL. The corner site is located near a new Super
Wal*Mart Center. The asking price is $12.21 psf. Edens & Avant recently acquired a portfolio of 20
grocery-anchored neighborhood shopping centers, totaling 2.3 million sq.ft., from Samuels
& Associates. The centers acquired include: Bishop’s Corner in West Hartford, CT;
Brookside Shopping Center in Bridgeport, CT; Brookway Shopping Center in Bridgeport, CT;
Elkhart Shopping Center in Elkhart, IN; Acton Plaza I and Acton Plaza II in Acton, MA;
Burlington Crossroads in Burlington, MA; Middlesex Mall in Burlington, MA; Shrewsbury
Crossing in Shrewsbury, MA; South Bay Center in Boston, MA; Center at Patchogue in
Patchogue, NY; Eastchester Shopping Center in Eastchester, NY; Buckeye Plaza in Cleveland,
OH; Broadway Shopping Center in Cleveland, OH; Westown Square in Cleveland, OH;
Columbia-Detroit Shopping Center in Westlake, OH; Fairlawn Shopping Center in Fairlawn,
OH; Mentor Shopping Center in Mentor, OH; Painesville Shopping Center in Painesville, OH
and Snow View Shopping Center in Parma, OH. In addition, the company recently acquired
eight shopping centers in AL, GA, NC, SC, TN and VA from separate sellers. The properties
include: Shield Plaza anchored by Winn Dixie and Rite Aid in Huntsville, AL; Plantation
Pointe anchored by Winn Dixie and Blockbuster in Smyrna, GA; Indian Creek anchored by Winn
Dixie and CVS in Atlanta, GA; Kenilworth Commons anchored by Harris Teeter in Charlotte,
NC; Butler Square anchored by Bi-Lo, CVS and Movie Gallery in Mauldin, SC; Winchester
anchored by Sessels, Stein Mart and Rite Aid in Memphis, TN; Promenade at Manassas
anchored by Wal*Mart and Home Depot in Manassas, VA and Cypress Point anchored by Farm
Fresh and CVS in Virginia Beach, VA. Federal Realty Investment Trust recently acquired Tower Shopping
Center in Springfield, VA for $17.6 million. The 110,000 sq.ft. project is anchored by
Total Beverage, Talbots Outlet, Blockbuster Video, Rowe Show Place and Cosmetic Center.
The company also purchased a leasehold interest in Kings Court Shopping Center in Los
Gatos, CA for $10.7 million. The 79,000 sq.ft. project is anchored by Lunardi’s
Supermarket, Long’s Drug and Hallmark. Staubach Retail Investment has the listing to sell a portfolio of
six Carson Pirie Scott department stores in the Chicago, IL market. The stores total 1.028
million sq.ft., and are 100% occupied and leased on an absolute bond net basis through
February 28, 2024. Tenant is responsible for 100% of all operating expenses, insurance,
and property taxes. Chicago is the company’s largest region, accounting for 59% of
sales and 30 of the chain’s 53 store locations. The asking price is $97,861,500. Westrust Southwest Retail Partners, L.L.C. recently acquired Loma
Linda Plaza in Nogales, AZ from Omega Partners for $10.525 million. The 210,244 sq.ft.
project is anchored by Wal*Mart, Safeway, Factory 2-U and Walgreens. Lease Signings Western Investment Real Estate Trust (916-791-0600) leased 1,200 sq.ft. to Advance America at Elverta Crossing in Antelope, CA; 1,600 sq.ft. to Subway at Caughlin Ranch in Reno, NV; 1,900 sq.ft. to Pro Image at Elko Junction in Elko, CA; 13,100 sq.ft. to 98 Cents Clearance Center at Skypark Plaza in Chico, CA; 2,060 sq.ft. to Family Rental Center at Heritage Place in Tulare, CA; 2,400 sq.ft. to Discount Place at Heritage Park in Suisun, CA; 5,400 sq.ft. to Amy’s Hallmark Gold Crown at Plaza 580 in Livermore, CA and 2,204 sq.ft. to Eagle Station Saloon at Eagle Station in Carson City, NV. Breslin Realty Development Corp. (516-741-7400) leased 6,000 sq.ft. to Smith & Hawken in Manhasset, NY; 13,800 sq.ft. to Odd Job Trading at Majestic Corner in Shirley, NY and 9,100 sq.ft. to Fabric Bonanza at Sunset Plaza in North Babylon, NY. Madison Marquette (760-862-1990) leased 9,377 sq.ft. to Benetton at The Gardens on El Paseo in Palm Desert, CA. The store, the first of its kind for the chain, features Accessories of Benetton, Benetton’s Sportsystem and E Caffe concepts under one roof. Flocke & Avoyer Commercial Real Estate (619-280-2600) leased 1,200 sq.ft. to Check N’ Go at Southland Plaza Shopping Center in San Diego, CA and 900 sq.ft. to Great Clips at El Norte Parkway Plaza in Escondido, CA. Glimcher Group, Inc. (412-765-3333) leased 4,000 sq.ft. to Dollar Tree at Green Garden Plaza in Aliquippa, PA; 5,400 sq.ft. to Dollar Tree at By-Pass Plaza in Beckley, WV and 5,626 sq.ft. to Woodworker’s Warehouse at Hermitage Hills Plaza in Hermitage, PA. Legend Properties (609-231-1010) leased space to AT&T Wireless Services at Cherry Hill Mall in Cherry Hill, NJ; Trolley Stop in Willow Grove, PA; Deptford Mall in Deptford, NJ and at Neshaminy Mall in Bensalem, PA and 12,000 sq.ft. to Tutor Time at Cedarbrook Plaza in Cheltenham, PA. Brandywine Real Estate Management Services Corp. (610-388-9600) leased 2,000 sq.ft. to Advance America at Clear Pointe Plaza in Gautier, MS; 2,905 sq.ft. to Only A Buck at St. Charles Plaza in Boutte, LA; 1,289 sq.ft. to Advantage Cellular at Whispering Pines in Manchester, TN; 5,400 sq.ft. to Blockbuster Video at Choctaw Plaza in Waveland, MS and 15,350 sq.ft. to Save-A-Lot at Avon Plaza in Avon Park, FL. The Krausz Companies, Inc. (818-912-8777) leased 35,000 sq.ft. to Linens ‘N Things and 7,198 sq.ft. to Gap/Gap Kids at Puente Hills Mall in City of Industry, CA. MTH Management Corp. (540-253-5555) leased 13,540 sq.ft. to Stage Stores at Orange Village Shopping Center in Orange, VA. Edens & Avant (864-260-1248) leased 23,500 sq.ft. to OfficeMax at Belvedere Plaza in Anderson, SC. The Koniver Stern Group (305-532-6100) leased 22,000 sq.ft. to Billboard Live and space to Constructa at Ocean Steps Retail Center on South Beach in Miami Beach, FL. The Carfaro Company (330-747-2661) leased 40,370 sq.ft. to Bed Bath & Beyond, 20,086 sq.ft. to Family Bargain Center and 6,863 sq.ft. to Don Pablo’s at Vancouver Plaza in Vancouver, WA; 5,143 sq.ft. to Kirkland’s and 1,550 sq.ft. to Kay Jewelers at Governor’s Square Mall in Clarksville, TN; 1,149 sq.ft. to Vitamin World at Ohio Valley Mall in St. Clairsville, OH; 1,550 sq.ft. to It’s About Games at Meadowbrook Mall in Bridgeport, WV and 1,387 sq.ft. to It’s About Games at Ashtabula Mall in Ashtabula, OH. Atlas Partners Commercial Brokerage (312-516-5700) leased 22,211 sq.ft. to Books-A-Million in a portion of a former Electric Avenue & More store in Terre Haute, IN. Childs Realty Group (847-870-8585) leased 23,140 sq.ft. to Jeepers at Concord Green Shopping Center in Glendale Heights, IL; 1,277 sq.ft. to Fantastic Sam’s at Wheatland Marketplace in Naperville, IL and 1,300 sq.ft. to Check Into Cash at Butterfield Corners in Mundelein, IL. Space Place Florida Enterprise- Enterprise Plaza is anchored by 16,000
Movies. The project has a 1,224 sq.ft. space available for lease. In Haines City-
Heart of Florida Centre is anchored by Kash N Karry and Wal*Mart. The
project has a 4,692 sq.ft. space available for lease. In Orlando- Clarcona
Crossings is anchored by Alberstons. The project has spaces from 1,050 sq.ft.
to 5,000 sq.ft. available for lease. Also in Orlando- Conway Plaza is
anchored by Publix Supermarket, Eckerd and Beall’s. The project has
spaces from 1,200 sq.ft. to 10,200 sq.ft. available for lease. Also in Orlando-
Danube Plaza is anchored by Winn-Dixie. The project has spaces of 1,000
sq.ft. to 3,000 sq.ft. available for lease. Also in Orlando- Orienta
Plaza has spaces from 2,000 sq.ft. to 22,720 sq.ft. available for lease. Also in Orlando-
University Shoppes is anchored by Litchfield Cinema. The project has a 1,500
sq.ft. space available for lease. In St. Petersburg- Bay Pointe Plaza
is anchored by Publix Supermarket and Eckerd. The project has spaces for
1,080 sq.ft. to 3,240 sq.ft. available for lease. In Winter Garden- Winter
Garden Regional is anchored by Publix Supermarket, Beall’s and Eckerd.
The project has spaces of 800 sq.ft. to 78,952 sq.ft. available for lease. Indiana Fort Wayne- Coldwater Crossing is anchored by Wal*Mart, Hobby Lobby,
Service Merchandise, Regal Cinemas and Walgreens. The 246,365 sq.ft. project
has spaces of 2,550 sq.ft., 3,200 sq.ft., 4,800 sq.ft. and 19,700 sq.ft. available for
lease. Demographics include a five-mile population of 131,465 earning $52,220 as the
average income. The site is located near Glenbrook Square Mall. Kentucky Elizabethtown- Towne Centre is anchored by Goody’s
and Kroger. The 158,269 sq.ft. project has spaces of 3,200 sq.ft., 4,213 sq.ft. and
12,468 sq.ft. available for lease. Demographics include a five-mile population of 32,120
earning $46,900 as the average income. Retailers in the area include Towne Mall,
Wal*Mart, Kmart and Target. In Richmond- Richmond Mall is
anchored by Goody’s, OfficeMax, JC Penney and Sun Television and Appliances.
The 288,727 sq.ft. project has spaces of 1,290 sq.ft., 6,599 sq.ft., 11,340 sq.ft. and
19,620 sq.ft. available for lease. Demographics include a trade area population of 129,000
earning $36,400 as the average income. Retailers in the area include Kmart, Kroger,
Lowes and Wal*Mart. Michigan Sterling Heights- The Forum at Gateways is anchored by Wal*Mart,
Farmer Jack and AMC Theaters. The 374,883 sq.ft. project, which is expected to
open during February 1999, has spaces of 3,500 sq.ft., 6,600 sq.ft. and 20,000 sq.ft.
available for lease. Demographics include a three-mile population of 66,708 earning
$53,741 as the average income. The site is located near Lakeside Mall. New Jersey East Brunswick- 18 Central is anchored by OfficeMax,
Barnes & Noble, The Gap, The Wiz and Kids ‘R Us. The 105,843 sq.ft.
project has spaces of 2,585 sq.ft. and 4,009 sq.ft. available for lease. Demographics
include a trade area population of 262,069 earning $59,646 as the average income. In Secaucus-
Mall at Mill Creek is anchored by Caldor, Edwards, Modell’s, Mandees,
Lechters, Foot Locker and Sam Goody. The project has spaces of 2,015 sq.ft.,
2,030 sq.ft., 2,047 sq.ft. and 5,435 sq.ft. available for lease. Demographics include a
five-mile population of 512,525 earning $45,256 as the average household income. New York Islandia- Islandia Center is anchored by Edward’s
Super Foods, Staples and TJ Maxx. The project has a 45,000 sq.ft. former Pergament
Home Center store available for sublease. In Port Chester- A 39,750
sq.ft. former Pergament Home Center space with a 10,000 sq.ft. basement is
available for sublease at a shopping center anchored by Waldbaums, Caldor,
Modell’s, Coconuts and Staples. In Riverhead- County Seat
Plaza Shopping Center is anchored by Waldbaums, Rite Aid, The Wall, Petland
Discounts and Blockbuster Video. The project has a 39,148 sq.ft. former Pergament
Home Center available for sublease. In Spring Valley- Spring Valley
Marketplace is anchored by TJ Maxx, Nobody Beats The Wiz, ShopRite, Staples, Pier
One and United Artists. The project has a 50,000 sq.ft. former Pergament
Home Center available for sublease. Oklahoma Yukon- Chisholm Center is anchored by Bealls, Stage
Stores, Hastings, Sears and Country General. The 226,000 sq.ft. project has
spaces of 2,000 sq.ft., 6,000 sq.ft. and 25,000 sq.ft. available for lease. Retailers in
the area include Wal*Mart Supercenter and Walgreens. Pennsylvania Richboro- Crossroads Plaza is anchored by SuperFresh
Supermarket, Rite Aid and Pizza Hut. The project will have a 30,624 sq.ft.
former SuperFresh site (relocated to new 55,537 sq.ft. space within shopping
center) available for lease beginning in the first quarter of 1999. Demographics include a
three-mile population of 46,911 earning $96,040 as the average household income. Tennessee Franklin- Alexander Plaza is anchored by Silk Factory
Outlet, Consolidated Stores, CVS and Dollar General. The project has 1,770
sq.ft. and 6,238 sq.ft. available for lease. In Manchester- Whispering
Pines Shopping Center is anchored by Wal*Mart, Bi-Lo and AutoZone. The
project has 1,644 sq.ft. and 1,628 sq.ft. available for lease. Memphis- Winchester Court is anchored by The Sports
Authority, Stein Mart, Party City, Seessel’s Supermarket and Rite Aid. The
project has up to 29,000 sq.ft. of build-to-suit space available for lease. Virginia Richmond- The Libbie Place Shopping Center is anchored
by Target, Boston Market, Einstein Bagels, Kinko’s and Blockbuster Video.
The 181,435 sq.ft. project has a 2,500 sq.ft. space available for lease. |