The Dealmakers Issue Number 21 for the week of June 19, 1996.

 

My Way by Ted Kraus

 

I just got off the phone with a client regarding a center that we're not leasing for him.  He wanted my opinion on a leasing matter and we're always glad to oblige a paying customer.  It seems he received a call from a broker who has the exclusive for a national "in-line" fast food chain.  The client's center is in a decent (but not great) location, lots of bodies, but blue collar.  He's been averaging $10-12 psf on the 120,000 sq.ft. project and has a seven to nine percent vacancy factor.

 

Anyway, the broker, after disclosing the client's name. asked about availability and our client offered several locations; then asked what type of rent the tenant would pay (I hate when a developer does that.  When you go into a restaurant, does the waiter ask how much you want to pay for a steak dinner?).  The broker responded $35 psf net.  Without giggling our client said that was in the ball park and asked when the broker and tenant wanted to meet.  They set up a meeting the next day and after the usual game of Jewish geography got onto the subject of rent.  The tenant asked what the landlord wanted and he responded with $35 "as-is."

 

They discussed the matter for 15 minutes and the tenant then offered $30 as his best "offer."  Our client said he'd get back to the broker and then called me.  After hearing the story, I asked what the problem was, since they were offering nearly three times what he was currently getting in rent.

 

"That's the problem," he responded, "they scare me.  Don't they do homework, how will they stay in business?, I don't want them to fail, it's bad for the center's image."  While I agree with him in theory, at $30 psf, even if they only make it two years, it's the same as six and he isn't putting any money into the deal.  Just because a retailer is stupid is not sufficient grounds not to do a deal with them, god if that was the case, half the centers in the country would be vacant (but to be fair, if stupidity was outlawed in our industry, there would be a lot less developers, brokers and people writing editorials).

 

I see "mistakes" like this happening everyday and wonder how leasing people can be so incompetent.  In 95 percent of the cases within a few years the companies with this type of employee/philosophy is either bankrupt or closing half their stores.

 

I called a friend of mine who represents this retailer in another region and asked him why.

 

He explained the region has an exclusive broker and he 1) doesn't negotiate, and 2)doesn't negotiate so his commission is bigger.  When I asked why they don't get rid of him, I was informed he was an "extremely" close friend of the VP of Real Estate.

 

Talking of exclusive brokers and whores, I called a regional tenant to offer a location.  I was then told by the president that they have an exclusive broker who I have to deal with.  I said 'fine," what's his/her number.  He then transferred me to their "exclusive broker."  It seems he's in the adjacent office to the president.  Long story short, I set up a meeting with the broker at the site and while we couldn't make a deal, we did get friendly.  His "deal" with the company is simple, the president set him up in business, pays him $60,000 a year salary plus $2,000 a deal over 10 and pays all expenses.  In return, the commission of $30,000 to $45,000 per deal goes to the president's brokerage company.  Since this is a private company and the president owns the company, it isn't illegal, but man is it immoral and in my opinion, stupid.

 

Their current deal requires the landlord to provide a "vanilla box" plus $15 psf in TI.  I guess the retailer wants to gouge the owner for every dime he can.  The fact that the rent is higher and the location is inferior is immaterial.  He does have experience in this type of real estate however, since he bankrupted the last two companies he owned.

 

On a different note, the other day I was having lunch with a friend who is the VP of a retail chain.  I asked how things were going and he responded business was great.  I then asked how many new stores they were going to open and he started to get really frustrated.  It seems his salary and the amount of stores they open were tied together.  In the last six months he brought in 17 deals that were approved before lease negotiation started by the president.  Of the 17, only five were signed.  It seems the president constantly gets "tenant's remorse" right before a deal is signed, finds 20 things wrong with the site and/or terms and then wants my friend to renegotiate.  In a third of the cases, the landlord agrees to the new terms, the other two thirds they pass on.  So saying no has "value," but that's a hell of a way to do a deal.  This type of negotiating can only work for a short period of time before it comes back to haunt them.

 

Parting thoughts... Lately I've been receiving lots of leasing packages from smaller towns and cities promoting their local real estate to one of the retailers we represent.  In the vast amount of cases, the towns stink, have no real potential to our client and, in my humble opinion, can not be "saved."  But it seems every five years or so the local governments feel compelled to give it the old college try, hire PR people, expand their Development Authority and convince the few remaining merchants that there is hope.  I guess they don't have any other choice, but I hate to see so many millions wasted.

 

Instead of trying to salvage their downtown by adding retail, I believe they would have a better chance of attracting service oriented business such as telemarketing, computer software developers, etc.  I guess adding a 15 person telemarketing firm to their downtown roster isn't as sexy as saying you're talking to Lands End.

 

PS

At the Vegas show, I was talking to Christine Felix of Auburndale Properties who said one of her "desires" in life is to have her name in a publication, so Christine, thanks for reading the Dealmakers...

 

Oh, as I mentioned in a previous "My Way," we plan on exhibiting at the National Association of Realtors and National Association of Industrial Parks conventions to try and lease retail property that needs an alternative use.  (In other words, the property is a bomb).  Anyone out there have any other shows they recommend that make sense for promoting retail property that has outlived its usefulness?  If you do, send 'em to me.  We'll put a list together and publish it for everyone's benefit.  Either call me at 609-587-6200 or e-mail to: ted.kraus@dealmakers.net... Thanks.

 

 

Apparel Tenants Looking To Sew-Up New Sites

 

Prime Sports Merchandising, Inc. trades as Prime Sports at 77 locations nationwide.  The stores, selling licensed team apparel and sports memorabilia, occupy spaces of 1,400 sq.ft. in regional malls.  Plans call for as many as 10 openings in the coming 18 months.  Expansion will take place nationwide, with a particular focus in CA, FL and TX.  The company also has a catalog division.

  For more information, contact Jeff Butler, Prime Sports Merchandising, Inc., Two Allegheny Center, Suite 1000, Pittsburgh, PA 15212; 412-237-8405, Fax 321-7113.

 

Friar Tux Shop, Inc. operates 12 locations in CA.  The men's formal wear stores occupy spaces of 1,800 sq.ft. in freestanding facilities and strip centers.  Preferred anchors include supermarkets.  Plans call for two openings in the coming 18 months.  Expansion will take place in the existing market.  Leases running five years, with a five-year option, are typical.

  For more information, contact Mike Meskell, Friar Tux Shops, Inc., 1711 South Claudina Way, Anaheim, CA; 714-635-1262, Fax 635-2701.

 

Dancer's, Inc. trades as Dancer's at 30 locations in MI and IN.  The family apparel stores occupy spaces of 7,500 sq.ft. in strip centers.  Preferred anchors include Wal*Mart and supermarkets.  Plans call for three openings in the coming 18 months.  Expansion will take place in the existing markets.  The company prefers to locate its stores in small towns.

  For more information, contact Douglas Dancer, Dancer's, Inc., 566 North Cedar Street, Mason, MI 48854; 517-676-4474, Fax 676-4554.

 

Pacific Sunwear of California, Inc. trades as Pacific Sunwear at 185 locations nationwide.  The stores, selling young men's and junior apparel, occupy spaces of 2,800 sq.ft. to 3,200 sq.ft. in regional malls.  Plans call for 35 openings in the coming 18 months.  Expansion will take place nationwide.  Preferred demographics include a population of 300,000 within 10 miles.  Leases running 10 years are typical.

  For more information, contact Shelley Smith, Pacific Sunwear of California, Inc., 5037 East Hunter Avenue, Anaheim, CA 92807; 714-701-4063, Fax 693-8163.

 

The White House operates 38 locations in AZ, CA, FL, MD, VA, PA, NC, SC, NJ, TX and Washington, D.C.  The stores, which sell apparel for women, accessories and gifts,all in white, occupy spaces of 1,000 sq.ft. in regional malls and specialty centers.  Growth opportunities are sought in the existing markets.

  For more information, contact Rick Sarmiento, The White House, 7600 Energy Parkway, Baltimore, MD 21226-1733; 410-437-7747, Fax 437-8922.

 

BJD trades as G.HQ. For Men at six locations in CA.  The stores, selling men's contemporary sportswear, occupy spaces of 1,500 sq.ft. to 4,000 sq.ft. in regional malls.  Growth opportunities are sought nationwide.

  For more information, contact Darry Smith, BJD, 4845 Southeastern Avenue, Bell, CA 90201; 213-264-3000, Fax 264-3977.

 

S&K Famous Brands, Inc. trades as S&K Famous Brand Menswear at 184 locations in AL, AR, FL, GA, VA, NC, TN, SC, NY, KY, IN, ME, OH, LA, WI, MI, IA, MO, OK, TX, MS, KS, NJ, MD, PA and WV.  The stores, which sell men's apparel at discount price-points, occupy spaces of 3,000 sq.ft. in freestanding facilities, regional malls, specialty and strip centers.  Plans call for as many as 35 openings in the coming 18 months.  Expansion will take place in AL, AR, FL, GA, IA, IN, KS, KY, LA, MD, ME, MI, MO, MS, NC, NJ, NY, OH, OK, PA, SC, TN and TX.

  For more information, contact Mike Desmond, S&K Famous Brands, Inc., PO Box 31800, Richmond, VA 23294-1800; 804-346-2500, Fax 747-3979.

 

Zeeman Manufacturing trades as Barry at 38 locations in AL, CO, GA, LA, MO, NM, OK, SC, TN, TX, NC and VA.  The men's apparel stores occupy spaces of 4,000 sq.ft. in freestanding facilities and strip centers.  Growth opportunities are sought in the Southeastern region.

  For more information, contact Harold Zeeman, Zeeman Manufacturing, 2303 John Glenn Drive, Chamblee, GA 30341; 770-451-5476, Fax 451-8095.

 

Alvin's Stores, Inc. trades as Alvin's Island at 15 locations in AL and FL.  The stores, selling sportswear, souvenirs, gifts and sundries, occupy spaces of 22,400 sq.ft. to 24,000 sq.ft. in freestanding facilities.  Growth opportunities are sought in beach resorts within a 200 mile radius of Panama City, FL.

  For more information, contact Gary Walsingham, Alvin's Stores, Inc., 14520 Front Beach Road, Panama City Beach, FL 32413-3599; 904-234-8897, Fax 235-2250.

 

Benetton Services Corp. trades as Benetton at 160 locations nationwide.  The women's apparel stores occupy spaces of 2,000 sq.ft. to 4,000 sq.ft. in downtown store fronts, regional malls and outlet centers.  Plans call for as many as 10 retail openings and as many as 15 outlet store openings in the coming 18 months.  Expansion will take place nationwide.

  For more information, contact Bruce Hunerberg, Benetton Services Corp., 11811 North Tatum Boulevard, Suite 3031, Phoenix, AZ 85028; 602-451-8229.

 

Gingiss International, Inc. trades as Gingiss Formalwear at 244 locations nationwide.  The men's formalwear stores occupy spaces of 1,000 sq.ft. to 1,100 sq.ft. in regional malls, power and strip centers.  Preferred anchors include Best Buy and Circuit City.  Plans call for 25 openings in the coming 18 months.  Expansion will take place nationwide.  Preferred demographics include a population of 150,000 within five miles earning at least $40,000 as the average income.  Leases running 10 years are typical.

  For more information, contact Susan J. Bennett, Gingiss International, Inc., 2101 Executive Drive, Addison, IL 60101-1482; 708-620-9050, Fax 620-8840.

 

Corvus Corp. trades as Underworld, Ltd. at five locations in CO.  The lingerie stores occupy spaces of 800 sq.ft. in regional malls and strip centers.  Plans call for one opening in the coming 18 months.  Expansion will take place in the existing market.

  For more information, contact Ramses Antoun, Corvus Corp., 7100 North Broadway, Suite 3F, Denver, CO 80221; 303-426-8880.

 

Holliday General Service Corp. trades as Holliday Fashions at 17 locations in AR, MS and TN.  The stores, selling women's sportswear and dresses, occupy spaces of 7,500 sq.ft. in power and strip centers.  Plans call for three openings in the coming 18 months.  Expansion will take place in the existing markets.

  For more information, contact Michael Holliday, Holliday General Service Corp., 208 South Dudley Street, Memphis, TN 38104; 901-522-1983, Fax 526-3943.

 

Twigland Fashions, Inc. trades as A'Gaci and Christines at 21 locations in TX.  The women's apparel stores occupy spaces of 2,000 sq.ft. to 4,000 sq.ft. in regional malls.  Plans call for the opening of four units in the coming 18 months.  Expansion will take place in the existing market.

  For more information, contact David Won, Twigland Fashions, Inc., 3201 Cherry Ridge, Suite 205, San Antonio, TX 78203; 210-377-3393, Fax 377-1546.

 

Cavalier Men's Shops, Inc. trades as Cavalier Men's Shop at 11 locations in MD and VA.  The men's apparel and shoe stores occupy spaces of 6,000 sq.ft. to 12,000 sq.ft. in freestanding facilities, regional malls and strip centers.  Growth opportunities are sought in the existing markets.

  For more information, contact Norman Orleans, Cavalier Men's Shops, Inc., 1345 University Boulevard E, Langley Park, MD 20783; 301-431-1800, Fax 431-7517.

 

Dokyo Enterprises, Inc. does business as TNT Men's Fashions and TNT Apparel & Shoes at 17 locations in OH.  The women's apparel stores occupy spaces of 4,000 sq.ft. in freestanding facilities, outlet and strip centers.  Plans call for one opening in the coming 18 months.  Expansion will take place in Cleveland, OH.  Leases running 10 years are typical and the company prefers a vanilla shell.

  For more information, contact Michael Hahn, Dokyo Enterprises, Inc., 502 Euclid Avenue, Cleveland, OH 44114; 216-575-0517, Fax 575-0568.

 

Pennsylvania Fashions, Inc. trades as Fashion Factory, $9.99 Stores and Rue 21 at 180 locations in AL, NH, NC, NJ, FL, TN, KY, IL, NY, PA, VA, WV, OH, MI, IN, MS and GA.  The stores, selling junior sportswear at off-price points, occupy spaces of 3,000 sq.ft. to 4,000 sq.ft. in regional malls, outlet and strip centers.  Plans call for 40 openings in the coming 18 months.  Expansion will take place nationwide.

  For more information, contact Eugene Klein, Pennsylvania Fashions, Inc., 155 Thornhill Road, Warrendale, PA 15086; 412-776-9780, Ext. 118, Fax 776-4111.

 

City Blue, Inc. operates 17 locations in DE, NJ and PA.  The men's and women's apparel stores occupy spaces of 3,500 sq.ft. to 5,000 sq.ft. in downtown store fronts, regional malls and strip centers.  Plans call for one opening in the coming 18 months.  Expansion will take place within the existing markets.  Leases running 10 years are typical and the company caters to an ethnic clientele.

  For more information, contact Joe Nadav, City Blue, Inc., 1141 Chestnut Street, Philadelphia, PA 19107; 215-496-9880, Fax 496-9881.

 

Leon Max, Inc. trades as Leon Max Factory Outlet at 11 locations in CA, FL and MA.  The stores, selling women's ready-to-wear apparel at discount price-points, occupy spaces of 2,500 sq.ft. in outlet and value centers.  Growth opportunities are sought in CA and FL.

  For more information, contact Teri Boland, Leon Max, Inc., 3100 New York Drive, Passadena, CA 91107; 818-797-6886, Fax 797-8555.

 

South Pointe Enterprises, Inc. does business as Airborne For Men at four locations in MA and RI.  The stores, selling men's casual apparel as well as a full array of adult entertainment items, occupy spaces of 2,500 sq.ft. in downtown store fronts, freestanding facilities and strip centers.  Plans call for 18 openings in the coming 18 months.  Expansion will take place in CT, MA, ME, NH, NJ, NY, RI and VT.

  For more information, contact Dan Geribo, South Pointe Enterprises, Inc., 1060 Park Avenue, Cranston, RI 02910; 401-941-4100, Fax 943-6363.

 

Colonel Days, Inc. trades as Colonel Day's Levi's Emporium and Sagebrush Levi's Emporium at 42 locations in IL, MI and MO.  The stores, selling Levi's and related casual apparel, occupy spaces of 3,000 sq.ft. to 4,100 sq.ft. in power and strip centers.  Preferred anchors include Meijer, Target and supermarkets.  Plans call for the opening of four units in the coming 18 months.  Expansion will take place in the existing markets.  Leases running 10 years are typical.

  For more information, contact Gary Krosch, Colonel Days, Inc., 8027 Forsyth Boulevard, St. Louis, MO 63105; 314-725-8388, Fax 728-7853.

 

J. Silver Clothing, Inc. trades as J. Silver Clothing at 35 locations in CT, FL, MA, NY and RI.  The junior's and women's apparel stores occupy spaces of 2,500 sq.ft. to 3,000 sq.ft. in downtown store fronts, power and strip centers.  Preferred anchors include Kmart, Wal*Mart and supermarkets.  Plans call for as many as 20 openings in the coming 18 months.  Expansion will take place in the existing markets.  Preferred demographics include a population of 30,000 within one mile earning $15,000 as the average income.  Leases running five years, with a five-year option, are typical and the company prefers a vanilla shell.

  For more information, contact John Cerreta, J. Silver Clothing, Inc., One Testa Place, South Norwalk, CT 06854; 203-866-0103, Fax 866-0027.

 

J. Baker, Inc. trades as Casual Male Big & Tall at 397 locations nationwide.  The stores, selling extra size sportswear for big and tall men, occupy spaces of 3,000 sq.ft. in freestanding facilities.  Plans call for 50 openings during 1996 and 75 openings during 1997.  Expansion will take place nationwide.  Preferred demographics include a population of 150,000 within five miles and 850,000 in the trade area.  Leases running five years, with options, are typical and the company prefers a vanilla shell with a $15 psf tenant allowance.

  For more information, contact Joseph Cornely III, J. Baker, Inc., 555 Turnpike Street, Canton, MA 02021; 617-828-9300, Fax 821-0614.

 

Braun Fashion Corporation trades as Gigi and Brauns Fashions at 225 locations nationwide.  The women's apparel stores occupy spaces of 2,600 sq.ft. to 3,700 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 nationwide.

  For more information, contact Jon Fortney, Braun Fashion Corporation, 2400 Xenium Lane, Plymouth, MN 55441; 612-551-5110.

 

Harriets Flair operates 12 locations in CT, FL, NJ and NY.  The women's apparel stores occupy spaces of 5,000 sq.ft. to 10,000 sq.ft. in freestanding facilities, power and strip centers.  Preferred anchors include Kmart, T.J. Maxx and supermarkets.  Plans call for as many as five openings in the coming 18 months.  Expansion will take place in the existing markets.  Preferred demographics include a population of 25,000 within two to five miles earning $50,000 as the average income.  Leases running 10 years are typical.

  For more information, contact Alan Mintz, Harriets Flair, c/o Aim Realty, 14 Hicks Lane, Great Neck, NY 11023; 516-773-3100.

 

 

My New Perspective on Handling Real Estate Workouts

 

by Kenneth A. Rosen, Esq.

Bankruptcy is no longer a panacea for single asset real estate debtors (partnerships, corporations, LLPs, etc. that own only one property).  The bankruptcy case law has become much more favorable to mortgages.  Bankruptcy Courts have become "creditor friendly" as a result of District Court and United States Court of Appeals decisions that effectively tie their hands, particularly in the Third Circuit which comprises New Jersey, Pennsylvania, Delaware and the Virgin Islands.

 

  First is the issue of assignments of rents.  Pursuant to the Jason Realty decision of the Third Circuit Court of Appeals, a Chapter 11 debtor cannot utilize rents that have been assigned to the mortgagee--for taxes, insurance, maintenance or otherwise--once the assignment kicks in (the debtor defaults).  All of the rental income goes to  the mortgagee.  Period.  The debtor can not even use the rents to fund a plan of reorganization.  Moreover, there is a question as to whether a plan can specify how the mortgagee should apply rental income.  Consequently, the smart thing today may be to advise a client not to let the rent assignment kick in before negotiating with the mortgagee or before commencing a Chapter 11 case.  To allow a client to default may actually add to the mortgagee's leverage.  In the old days (two years ago!), everyone thought that cutting off payments to a mortgagee could bring the mortgagee to the bargaining table.  Not true now.  A default where the mortgagee has an assignment of rents automatically diverts the rents to the mortgagee, which usually is the mortgagor's sole source of cash.

 

  Second is the issue of classification, valuation and section 1111(b) of the Bankruptcy Code.  Essentially, if the property is worth less than the amount of the mortgagee's claim, the mortgagee has a deficiency claim and, pursuant to the Route 37 case, the mortgagee can elect that its claim go in the same voting class as general unsecured claims (the utility company, lawn service, elevator repairman, phone company, etc.).  The problem is that the lender's deficiency claims usually far outweigh all other unsecured claims and thereby prevents a debtor from getting the requisite dollar amount of votes necessary to confirm a Chapter 11 plan of reorganization.  A Chapter 11 reorganization plan that proposes to pay the mortgagee in full--despite the fact that the mortgagee is undercollateralized--so that the mortgagee will not have a deficiency claim, will not work either because the Courts have held that doing so is a "forced section 1111(b) election" and not permitted under the Bankruptcy Code.

 

  The perfect setting now for a single asset real estate Chapter 11 is where the debtor is current with the mortgage and where the mortgagee is overcollateralized.  Why would anyone need a Chapter 11 under those circumstances?  The answer is that, perhaps, the mortgage is maturing and the debtor can not take out the mortgagee with replacement financing.  Or, rents are dropping and the debtor knows it will "hit the wall" sooner or later unless the amortization is reduced.  Still, the use of Chapter 11 to salvage "underwater" properties is probably a thing of the past unless it is consensual.

 

  More and more, the thing to do is let go of the property and buy it back at the foreclosure sale.  This could be a more prudent use of funds than spending on legal fees.  But, if that does not make sense (because of personal guarantees or a lack of financial wherewithall), the question becomes: "What do I bring to the table as an inducement for the mortgagee to cooperate in a restructuring?"  One item is the obvious: fresh equity.  Other items may be management skills (if the mortgagee is not one that typically is comfortable taking back property), market control (if the building is one that is surrounded by others that the debtor controls in the same park or close geographic area and the debtor is in a position to "starve" the property if it loses the property) or environmental liability (the mortgagee does not want to become part of the chain of title).

 

  For the owners and developers who did not over-leverage themselves in the heyday of the 1980's and who had access to financing, the first half of the 90's presented an opportunity to acquire properties at bargain prices as banks sought to clean up loan portfolios.  Some banks did so because real estate represented a disproportionate percentage of their loans, while others did so as a prelude to a bank merger.  Either way, there are less opportunities now.

 

  A headaches surfaces when the mortgage has been purchased by a person who is less interested in recovering payment than in owning and operating the collateral.  Major real estate developers (and others) have set up "vulture" funds to acquire distressed properties.  More than ever before, banks are seizing the opportunity to reduce their real estate exposure by selling loans to "vulture" funds at a discount.  The purchaser of the mortgage probably bought a package of loans for less than the real value of the property in exchange for buying a package of properties.  Personal guarantees, if any, are just a bonus and litigation costs as well as delay from litigation were probably calculated into the purchase price.  Therefore, the debtor should not overplay its hand.  It may be able to obtain the most (including general releases) by offering to "cut and run" (give the deed).  If not, then the debtor may have no alternative but to go over the documents with a magnifying glass searching for flaws.

 

  All sides perpetually must be on the alert for new ideas.  One that I like is a "baseball" arbitration.  This is a good way to fix a number at which the debtor can cash out the mortgagee (assuming that the debtor can raise the capital to do so).  It also keeps both side honest.  A baseball arbitration in real estate occurs when the mortgagor picks an appraiser and the mortgagee picks its appraiser.  If they come in with a number that is within an agreed upon span, e.g. ten percent, they split the difference.  If the spread is larger, a third arbitrator is pre-chosen who must pick the number that is closest to the third arbitrator's number.  If you lowball or highball, you are dead.

 

  The real estate bankruptcy wave is essentially over, at least in Northern New Jersey.  Banks and insurance companies have, for the most part, cleaned up their portfolios.  The balance of power in real estate workouts and real estate bankruptcies has shifted.  As a result, debtor's attorneys have to get a lot more creative.  Anyone who handles a workout without knowing the state of the law will not be taken seriously.  Mortgagees and their counsel now take seriously only those attorneys that have a reputation for being creative, diligent, knowledgeable and litigious when necessary and only those borrowers who bring something real to the table.

  Kenneth A. Rosen, Esq. is a principal with Ravin, Sarasohn, Cook, Baumgarten, Fisch& Rosen, P.C., 103 Eisenhower Parkway, Roseland, NJ 07068-1072; 201-228-9600, Fax 228-6083.

 

 

Growing Pains Have Food Tenants Hungry for Sites

 

Dijan, Inc. trades as Arby's at nine locations in NJ, PA, VA and WV.  The fast food restaurants occupy spaces of 500 sq.ft. to 3,600 sq.ft. in freestanding facilities, regional malls, power and strip centers.  Growth opportunities are sought in the existing markets.

  For more information, contact Roy McDonald, Dijan, Inc., 1647 Forest Acre Drive, Clarks Summit, PA 18411; 717-343-0666, Fax 343-7784.

 

Flying Tomato, Inc. trades as Flying Tomato Pizza In A Pan and Garcia's Pizza In A Pan at 15 locations throughout IL, IN, OH and TX.  The restaurants, serving, pizza, salads and sandwiches, occupy spaces of 1,000 sq.ft. to 2,500 sq.ft. in regional malls, outlet, power, specialty and strip centers.  Growth opportunities are sought in IL and IN.

  For more information, contact Ralph Sen, Flying Tomato, Inc., PO Box 3189, Champaign, IL 61826-3189; 217-351-1020, Fax 351-0920.

 

IMKP, Inc. does business as Red Hot Hens at one location in NJ.  The concept, which serves rotisserie chicken, hot and cold side dishes, sandwiches, salads and soups, is seeking spaces running 1,500 sq.ft. to 2,400 sq.ft. in freestanding facilities and strip centers.  Plans call for three openings in the coming 18 months.  Expansion will take place in the existing market.

  For more information, contact Philip Abdala, IMKP, Inc., 251 South Route 73, Marlton, NJ 08053; 609-983-4367, Fax 983-1076.

 

Boston Beanery Operating, Inc. trades as Boston Beanery Restaurant & Tavern at seven locations in PA, IN, VA and WV.  The American casual theme restaurants occupy spaces of 3,000 sq.ft. to 4,000 sq.ft. in freestanding facilities, regional malls and strip centers.  Plans call for one opening in the coming 18 months.  Expansion will take place in KY.  Preferred demographics include a population of 35,000 within five miles.  Leases running 10 years are typical.  The company is franchising.

  For more information, contact Dave Seman, Boston Beanery Operating, Inc., 265 High Street, Suite 600, Morgantown, WV 26505; 304-292-2035, Fax 292-2057.

 

Boddie-Noell Enterprises, Inc. trades as Hardee's at 366 locations in AR, KY, MS, NC, SC, TN and VA.  The fast food restaurants occupy freestanding facilities on a land area running 41,000 sq.ft.  Plans call for two openings in the coming 18 months.  Expansion will take place in NC and VA.  Preferred demographics include a population of 8,000 within three miles earning $33,000 as the average income.

  For more information, contact Michael Mosley, Boddie-Noell Enterprises, Inc., 1021 Noell Lane, Rocky Mount, NC 27802; 919-937-2000, Fax 937-4909.

 

Ameci In & Out, Inc. trades as Ameci Pizza and Pasta at 41 locations in CA.  The restaurants, which serve pizza, pasta, salads and submarine sandwiches, occupy spaces of 1,200 sq.ft. in strip centers.  Plans call for nine openings in the coming 18 months.  Expansion will take place in AZ, CA and NV.

  For more information, contact Nick Andrisano, Ameci In & Out, Inc., 6603 (B&C) Independence Avenue, Canoga Park, CA 91303; 818-712-0110, Fax 712-0792.

 

Datar, Inc. trades as Country Kitchen at 15 locations in OH.  The restaurants occupy spaces of 4,000 sq.ft. in freestanding facilities.  Plans call for seven openings in the coming 18 months.  Expansion will take place in the existing market.  The company cites Bob Evans and Denny's as competition.

  For more information, contact Dale Schwan, Datar, Inc., 4615 West Streetsboro Road, Richfield, OH 44286; 216-659-9211, Fax 659-4053.

 

Diamond Dave's Taco Company, Inc. trades as Diamond Dave's Taco Company at 34 locations in IA, IL, MO, MN and WI.  The Mexican-American restaurants, which also have lounges, occupy spaces of 2,000 sq.ft. to 3,000 sq.ft. in regional malls and specialty centers. Growth opportunities are sought in the existing markets.

  For more information, contact Stanley White, Diamond Dave's Taco Company, Inc., 201 South Clinton Street #281, Iowa City, IA 52240; 319-337-7690, Fax 337-4707.

 

George Webb Corp., Inc. trades as George Webb Restaurants at 44 locations in WI.  The sit down restaurants occupy spaces of 1,800 sq.ft. to 2,200 sq.ft. in strip centers.  Plans call for two openings in the coming 18 months.  Expansion will take place in WI.

  For more information, contact Dave Stamm, George Webb Corp., Inc., 3540 North 126th Street, Brookfield, WI 53005; 414-781-9186.

 

Sunbelt Ventures, Inc. does business as Surf City Squeeze at 175 locations nationwide.  The units, offering specialty health drinks, occupy spaces of 300 sq.ft. to 700 sq.ft. in freestanding facilities and regional malls.  Plans call for as many as 150 openings in the coming 18 months.  Expansion will take place nationwide.

  For more information, contact Tom Horowitz, Sunbelt Ventures, Inc., 8340 West Raintree Drive C7, Scottsdale, AZ 85260; 602-443-0200, Fax 443-1972.

 

Jolly Pirate Enterprises trades as Jolly Pirate Donuts at 17 locations in KY, OH and WV.  The donut stores occupy spaces of 1,200 sq.ft. to 1,600 sq.ft. in freestanding facilities.  Plans call for six openings in the coming 18 months.  Expansion will take place in OH.

  For more information, contact Nick Soulas, Jolly Pirate Enterprises, 3923 East Broad Street, Columbus, OH 43213; 614-235-4501, Fax 235-4533.

 

Manchu Wok operates 245 locations throughout North America.  The Chinese restaurants occupy spaces of 600 sq.ft. to 1,000 sq.ft. in food courts of regional malls and specialty centers.  Plans call for as many as 50 openings in the coming 18 months.  Expansion will take place in the existing markets.

  For more information, contact Ed Wollent, Manchu Wok, 816 South Military Trail, Deerfield Beach, FL 33442; 954-481-9555, Fax 481-9670.

 

Pizza USA Management, Inc. trades as Pizza USA at seven locations in AZ, CA, FL and NY.  The Italian restaurants occupy spaces of 500 sq.ft. to 900 sq.ft. in food courts of regional malls.  Growth opportunities are sought nationwide.  Leases running 10 years are typical and the company is franchising.

  For more information, contact Raymond Nevin, Pizza USA Management, Inc., 1761 West Hillsboro Boulevard #401, Deerfield Beach, FL 33442; 954-428-5660, Fax 428-5560.

 

Arabica Cafes, Inc. trades as Arabica Coffee House at 15 locations in OH.  The restaurants, serving sandwiches, gourmet coffees, teas, expresso and ice cream, occupy spaces of 600 sq.ft. to 4,000 sq.ft. in specialty and strip centers.  Growth opportunities are sought in the existing market.  Preferred demographics include a population of 30,000 within two miles.  Leases running 10 years are typical.

  For more information, contact Marvin Schwartz, Arabica Cafes, Inc., 4208 Prospect Avenue, Cleveland, OH 44103; 216-361-8787, Fax 361-8847.

 

New World Coffee operates 35 locations in CT, MA, NJ, NY and PA.  The stores, serving coffee and related foods, occupy spaces of 800 sq.ft. to 2,500 sq.ft. in a variety of real estate setting, excluding outlet centers.  Plans call for 40 openings in the coming 18 months.  Expansion will take place in the existing markets, with a particular focus on the metropolitan New York City area.

  For more information, contact Bob Steinberg, New World Coffee, c/o First Development Corp., 1328 Motor Parkway, Hauppauge, NY 11788; 516-234-3200, Fax 234-3695.

 

Blimpie International, Inc. trades as Blimpie Subs and Salads at 1,400 locations nationwide.  The fast food restaurants, serving submarine sandwiches and salads, occupy spaces of 1,200 sq.ft. in downtown store fronts, freestanding facilities, power centers and regional malls.  Plans call for at least 1,000 openings in the coming 18 months.  Expansion will take place nationwide.

  For more information, contact Miss Fran Boris, Blimpie International, Inc., 740 Broadway, 12th Floor, New York, NY 10003; 212-673-5900, Ext. 26, Fax 995-2560.

 

Gregory's Restaurants operates four locations in AZ and CA.  The full service restaurants occupy spaces of 6,000 sq.ft. to 7,000 sq.ft. in regional malls.  Plans call for as many as two openings in the coming 18 months.  Expansion will take place in AZ.  Preferred demographics include a population of 50,000 within five miles.  Leases running 10 years are typical.

  For more information, contact James Kelleher, Gregory's Restaurants, 1133 East Missouri, Suite L, Phoenix, AZ 85014; 602-248-7950, Fax 265-6581.

 

Del's Lemonade operates 33 locations nationwide.  The units, serving natural lemonade, popcorn, nachos, pretzels and other natural fruit drinks, occupy spaces of 1,000 sq.ft. in freestanding facilities and strip centers.  Growth opportunities are sought nationwide.

  For more information, contact Joe Padula, Del's Lemonade, 1260 Oaklawn Avenue, Cranston, RI 02920; 401-463-6190, Fax 463-7931.

 

 

Drug Stores Looking To Fill Expansion Plans

 

CVS trades as CVS Pharmacy at more than 1,400 locations from New England to GA.  The drug stores occupy spaces of 8,000 sq.ft. to 11,000 sq.ft. in freestanding facilities.  Plans call for 115 openings during 1996.  Expansion will take place in the existing markets.  Preferred demographics include a population of 18,000 within one mile.

  For more information, contact Dennis McMullen, CVS, One CVS Drive, Woonsocket, RI 02895; 401-765-1500, Fax 769-6593.

 

Happy Harry's, Inc. trades as Happy Harry's Discount Drug at 31 locations in DE, NJ and PA.  The drug stores occupy spaces of 10,000 sq.ft. to 12,000 sq.ft. in strip centers.  Plans call for as many as four openings in the coming 18 months.  Expansion will take place in the existing markets.

  For more information, contact Ralph Larson, Happy Harry's, Inc., 315 Ruther Drive, Newark, DE 19711; 302-366-0335, Fax 453-3180.

 

Gemmel Pharmacy Group, Inc. trades as Gemmel Pharmacy at 11 locations in CA.  The drug stores occupy spaces of 1,500 sq.ft. to 10,000 sq.ft. in downtown store fronts, freestanding facilities, specialty and strip centers.  Plans call for one opening in the coming 18 months.  Expansion will take place in the existing market.

  For more information, contact Bill Oberhauser, Gemmel Pharmacy Group, Inc., 143 North Euclid Avenue, Ontario, CA 91762; 909-984-7132, Fax 983-8469.

 

Community Distributors, Inc. trades as Drug Fair and Cost Cutters at 43 locations (26 Drug Fair and 17 Cost Cutters) in NJ.  The drug stores, occupy spaces of 25,000 sq.ft. in freestanding facilities and strip centers.  Growth opportunities are sought in the existing market.

  For more information, contact Frank Marfino, Community Distributors, Inc., 251 Industrial Parkway, Somerville, NJ 08876; 908-722-8700, Fax 722-2902.

 

Big B, Inc. trades as Big B and Drugs For Less at 384 locations in AL, FL, GA, MS and TN.  The drug stores occupy spaces of 3,500 sq.ft. to 10,000 sq.ft. in freestanding facilities and strip centers.  Growth opportunities are sought in the existing markets.

  For more information, contact Steve Taylor, Big B, Inc., 2600 Morgan Road S.E., Vesemer, AL 35023; 205-424-3421, Fax 425-8839.

 

Rite Aid Corp. trades as Rite Aid at 2,759 locations nationwide.  The drug stores occupy spaces of 10,000 sq.ft. in downtown store fronts, freestanding facilities and strip centers.  Plans call for 150 openings in the coming 18 months.  Expansion will take place nationwide.

  For more information, contact Philip Markovitz, Rite Aid Corp., 30 Hunter Lane, Camp Hill, PA 17011-2404; 717-975-5800.

 

Lewis Drug Stores operates seven locations in MN and SD.  The drug stores occupy spaces of 40,000 sq.ft. in strip centers.  Growth opportunities are sought in the existing markets.

  For more information, contact Mark Griffin, Lewis Drug Stores, 2701 South Minnesota Avenue, Suite 1, Sioux Falls, SD 57105; 605-333-2800, Fax 333-2876.

 

American Stores Co. trades as Sav-On and Osco Drug Stores at 350 locations (285 Sav-On and 65 Osco) in AZ, CA and NV.  The drug stores occupy spaces of 16,480 sq.ft. in freestanding facilities and strip centers.  Plans call for 30 openings in the coming 18 months.  Expansion will take place in the existing markets.

  For more information, contact Monte Conrad, American Stores Co., 6565 Knott Avenue, Buena Park, CA 90620-1158; 714-739-6738, Fax 739-6744.

 

Downeast Pharmacy, Inc. trades as Downeast Pharmacy at nine locations in ME.  The drug stores occupy spaces of 4,000 sq.ft. in downtown store fronts, freestanding facilities and regional malls.  Plans call for five openings in the coming 18 months.  Expansion will take place in the existing market.

  For more information, contact Michael Fiori, Downeast Pharmacy, Inc., 4 Union Street, Bangor, ME 04401; 207-945-4161, Fax 945-3490.

 

Edgehill Drugs, Inc. does business as Edgehill Pharmacies at 23 locations in DE and MD.  The full-service pharmacies occupy spaces of 6,300 sq.ft. in strip centers.  Preferred anchors include supermarkets.  Plans call for two openings in the coming 18 months.  Expansion will take place in DE and MD.

  For more information, contact Blake Thompson, Edgehill Drugs, Inc., 4 Baltimore Avenue, Georgetown, DE 19947; 302-856-2400, Fax 856-1960.

 

Arrow Corp. trades as Arrow Prescription Centers at 60 locations in CT, MA, PA and RI.  The drug stores occupy spaces of 1,500 sq.ft. in freestanding facilities.  Preferred anchors include supermarkets.  Plans call for 40 openings in the coming 18 months.  Expansion will take place in NJ and NY.  Preferred demographics include a population of 12,000 within one mile earning $35,000 as the average income.  Leases running five years, with three options of five years each, are typical.

  For more information, contact Gregory McKenna, Arrow Corp., 312 Farmington Avenue, Farmington, CT 06032; 203-676-1222, Fax 747-3311.

 

Hartig Drug Co., Inc. trades as Hartig Drug Co. at seven locations in IA and IL.  The full-service drug stores occupy spaces of 7,000 sq.ft. in freestanding facilities and strip centers.  Growth opportunities are sought in the existing markets.

  For more information, contact Richard Hartig, Hartig Drug Co., Inc., PO Box 709, Dubuque, IA 52004-0709; 319-588-8700, Fax 588-8725.

 

Kinney Drugs, Inc. trades as Kinney Drugs at 45 locations in NY and VT.  The drug stores occupy spaces of 8,000 sq.ft. in strip centers.  Growth opportunities are sought in the existing markets.

  For more information, contact Richard Cognetti, Kinney Drugs, Inc., 29 East Main Street, Gouverneur, NY 13642; 315-287-1500, Fax 287-4291.

 

Wogan Enterprises, Inc. trades as Wogan Drug Stores at 20 locations in PA and WV.  The drug stores occupy spaces of 10,000 sq.ft. in strip centers.  Growth opportunities are sought in the existing markets.

  For more information, contact Hayward Wogan, Wogan Enterprises, Inc., 410 Queen Street, Littletown, PA 17340; 717-359-5280, Fax 359-7428.

 

Revco D.S., Inc. trades as Revco at 2,175 locations throughout the Eastern and Midwestern regions.  The drug stores occupy spaces of 8,000 sq.ft. to 10,000 sq.ft. in freestanding facilities, specialty and strip centers.  Growth opportunities are sought in IL, IN, KY, OH, PA, MD, NJ, WV, NY, VA, GA, SC and TN.

  For more information, contact Jim Hagen, Revco D.S., Inc., 1925 Enterprise Parkway, Twinsburg, OH 44087-2207; 216-425-9811, Fax 487-1679.

 

Harco Drug, Inc. trades as Harco Super Drug at 145 locations in AL, FL and MS.  The drug stores occupy spaces of 10,125 sq.ft. in freestanding facilities and strip centers.  Growth opportunities are sought in the existing markets.

  For more information, contact Joseph Thames, Harco Drug, Inc., 3925 Rice Mine Road, Tuscaloosa, AL 35406; 205-345-2400, Fax 345-4302.

 

 

Home Products Retailers Looking To Expand

 

Three D Departments, Inc. trades as Three D Bed & Bath and Linens Plus at 25 locations in AZ, CA and CT.  The stores, selling housewares, bed and bath items at off-price points, occupy spaces of 20,000 sq.ft. to 25,000 sq.ft. in power and strip centers.  Preferred anchors include Marshalls, T.J. Maxx, Target and other soft good retailers.  Plans call for three openings in the coming 18 months.  Expansion will take place in the existing markets.  Preferred demographics include a population of 50,000 within three miles earning $45,000 as the average income.  Leases running 10 years are typical.

  For more information, contact Brian Kjos, Three D Departments, Inc., 2010 Main Street, Suite 620, Irvine, CA 92714; 714-756-6400, Fax 756-6404.

 

40 Winks, Inc. trades as 40 Winks Sleep Shops at 14 locations in NJ.  The stores, selling bedding, occupy spaces of 2,000 sq.ft. to 4,000 sq.ft. in power and strip centers.  Preferred anchors include Kmart, Lord & Taylor, T.J. Maxx, Wal*Mart and supermarkets.  Plans call for six openings in the coming 18 months.  Expansion will take place in DE, NJ and PA.  Leases running five years with a five-year option, are typical.

  For more information, contact Gerry Barr, 40 Winks, Inc., Westmont Plaza, Westmont, NJ 08108; 609-854-5470, Fax 869-0025.

 

General Industries trades as Rugs & Home Accessories at six locations in CA.  The stores, selling rugs and furniture from around the world, occupy spaces of 10,000 sq.ft. in strip centers.  Plans call for three openings in the coming 18 months.  Expansion will take place in the existing market.

  For more information, contact Mr. Itzshah, General Industries, PO Box 10866, Costa Mesa, CA 92627; 714-557-0402.

 

Blinds To Go operates 50 locations in NJ, NY and PA.  The home decor stores, selling window treatments and home products, occupy spaces of 2,500 sq.ft. to 3,500 sq.ft. in freestanding facilities and strip centers.  Preferred anchors include Home Depot and Barnes & Noble.  Plans call for 30 openings in the coming 18 months.  Expansion will take place in DE, MD, NJ, NY, PA and VA.  Preferred demographics include a population of 50,000 within three miles earning at least $35,000 as the average income.  Leases running 15 years are typical.

  Domain operates 25 locations in CT, MA, MD, NJ, NY and VA.  The home furnishings stores occupy spaces of 5,000 sq.ft. to 7,000 sq.ft. in downtown store fronts, freestanding facilities, regional malls and specialty centers.  Preferred anchors include Barnes & Noble and furniture retailers.  Plans call for 15 openings in the coming 18 months.  Expansion will take place in the existing markets as well as DE.  Preferred demographics include a population of 100,000 within five miles earning at least $45,000 as the average income.  Leases running 10 to 15 years are typical.

  For more information on the above two companies, contact Steven B. Greenberg, c/o The Greenberg Group, Inc., 1200 West Broadway, Hewlett, NY 11557; 516-295-0406, Fax 374-0999.

 

ATM Enterprises does business as First American Rental Center at 24 locations in GA, IL and WI.  The home furnishings stores occupy spaces of 3,000 sq.ft. to 5,000 sq.ft. in strip centers.  Plans call for 12 openings in the coming 18 months.  Expansion will take place in AL, FL, IL, NC, SC and TN.

  For more information, contact David Oliver, ATM Enterprises, 6400 Hillandale Drive, Lithonia, GA 30058; 770-482-2400, Fax 482-8971.

 

Old America Stores operates 94 locations nationwide.  The home decor stores, selling arts, crafts and related items, occupy spaces of 18,000 sq.ft. to 35,000 sq.ft. in strip centers.  Plans call for as many as 24 openings in the coming 18 months.  Expansion will take place in FL, GA, NC, SC and VA.

  For more information, contact The Director of Real Estate, Old America Stores, PO Box 370, Howe, TX 75059; 903-532-6645, Fax 532-6708.

 

Christmas Tree Shop's, Inc. trades as Christmas Tree Shop at 17 locations in CT, MA, NH and RI.  The stores, selling domestic items, housewares and gifts, occupy spaces of 55,000 sq.ft. in freestanding facilities, specialty and strip centers.  Plans call for three openings in the coming 18 months.  Expansion will take place in CT, ME, MA or NH.

  For more information, contact Steve Tenofsky, Christmas Tree Shop's, Inc., c/o Bayliss Co., Inc., 1000 Boston Turnpike, Shrewsbury, MA 01545; 508-845-5000, Ext. 306, Fax 842-6100.

 

 

Exclusives: Leasing & Managament Assignments

 

Keen Realty Consultants, Inc. (516-482-2700) has been retained by Herman's Sporting Goods, Inc. in its Chapter 11 bankruptcy proceedings to liquidate its remaining real estate holdings. Available are 116 leasehold sites located in the Northeastern region.  Leased sites range in size from 5,000 sq.ft. to 50,000 sq.ft.  A bankruptcy auction has been scheduled for July 9 at 10:30 a.m. at the Law Office of Crummy, Del Deo, Dolan, Griffinger & Vecchione, One Riverfont Plaza, Newark, NJ 07102-5497.  All properties can be sold prior to the auction and early offers are encouraged.  The company has also been retained by Rickels Home Center to advise the company in its disposition of its real estate holdings.  A total of 20 locations are available.  A bankruptcy auction will be held on July 23 at 11 a.m. at the Law Office of Fried, Frank, Harris, Shriver & Jacobsen, One Penn Plaza, New York, NY.

 

Hicks & Rotner Retail, Inc. (410-823-4250) has been appointed the leasing agent for City Place in Silver Spring, MD and Largo Town Center in Largo, MD.  Both projects are owned by Petrie Dierman Kughn.  City Place is a 275,000 sq.ft. project anchored by Nordstrom Rack, Marshall's, Ross Dress For Less, Burlington Coat Factory and AMC Theaters.  Largo Town Center is a 260,500 sq.ft. project anchored by Hechinger's, Marshall's and Shopper's Food Warehouse.

 

Welco Realty, Inc. (914-833-1340) has been named the exclusive leasing agent for Edgewater Commons Center in Edgewater, NJ.  The 430,000 sq.ft. project is anchored by Caldor, Pathmark Supermarkets, Barnes & Noble, T.J. Maxx, Bed Bath & Beyond, Old Navy, Staples, Outback Steak House and Crab House Restaurant.

 

Neal Realty & Investments, Inc. (954-568-0530) has been named the exclusive tenant representative for Tropical Outfitters, Poultry Brothers, Copeland Restaurants and Gordan/Gawrys.  Tropical Outfitters, a sports apparel store, is seeking 1,200 sq.ft. spaces in Boca Raton, FL; Poultry Brothers, a take-out food store, is seeking spaces from 1,500 sq.ft. to 2,500 sq.ft. in Delray/Boynton, Boca Raton and Aventura, FL; Copeland Restaurants, is seeking second generation spaces from 4,000 sq.ft. to 6,000 sq.ft.  in Broward and Palm Beach Counties, FL; and Gordon/Gawrys, a restaurant and night club, is seeking spaces from 4,000 sq.ft. to 6,000 sq.ft. in Broward and Palm Beach Counties, FL.

 

 

Who's Opening and Where...

 

Indy Lube (317-845-9444) will open a store in Indianapolis, IN next month at a former Jiffy Lube location.

 

Quality Dining, Inc. (219-271-4600) recently opened its 150th restaurant, a Bruegger's Bagel Bakery in Columbus, OH.  The company also operates restaurants trading as Burger King, Grady's American Grill, Chili's Southwestern Grill and Bar and Spageddies Italian Kitchen.

 

Barnes & Noble, Inc. (212-633-3300) recently opened a 31,500 sq.ft. bookstore in Willow Grove, PA.  The company plans to open a 35,904 sq.ft. bookstore in Metairie, LA during late summer.

 

Orvis (802-362-1300) recently opened a store at Hilltop East Shopping Center in Virginia Beach, VA.  One of the nation's premier upscale retail outlets for fly-fishing gear, shooting apparel and outdoor clothing, the store will be known as Anglers Lab Outfitters.

 

Avalon Stores, Inc. (614-297-1388) plans to open a 2,000 sq.ft. apparel store, which feature street wear, rave wear and retro styles, in Lawrence, KS during August.  The company also has stores in Pittsburgh, PA; Cincinnati and Columbus, OH; Louisville, KY and St. Louis, MO.

 

The May Department Stores Company (314-342-6300) plans to invest $2 billion over the next five years to open 125 department stores which will add 22 million sq.ft. of selling space.  During this year, the company plans to open 29 stores and currently operates 347 department stores in 30 states.

 

Venture Stores, Inc. (314-281-5500) plans to reopen its store in Texas City, TX this month and its store in Willow Brook, TX during the Fall.  The Texas City store has been operating as a clearance center since March, and the Willow Brook store was closed because road repairs blocked customer access.

 

Cybersmith (617-547-8588) recently opened a store at Faneuil Hall in Boston, MA.  The concept features 40 to 45 computers dedicated to the Internet, CD-ROM games and virtual reality which allow customers to design home pages, create digital portraits or t-shirts.  In addition to selling time on the Internet, the stores offer software and feature a cafe.  The company, which currently operates three units, is looking to open stores in Palo Alto and Los Angeles, CA; Chicago, IL; Seattle, WA and New York, NY.

 

International Dairy Queen (612-830-0200) plans to roll out a test concept of a smaller Dairy Queen unit in Caledonia, MN.  The 1,500 sq.ft. unit will feature a 46-seat dining room, down from the usual 90 seats, a smaller kitchen, outdoor, seating and a drive-up window.  The smaller unit is designed to go into markets with as little as 1,500 people.

 

Hooters of America, Inc. (404-951-2040) plans to open a 7,000 sq.ft. Jackaroo Australian Steakhouse in Myrtle Beach, SC next month.  The new concept will feature steaks and seafood served in an Australian-themed decor.  A second unit is expected to open in Atlanta, GA during the Fall and the company plans a nationwide roll out in the future.

 

OfficeMax (216-295-6411) plans to open a 30,500 sq.ft. store, including a 5,000 sq.ft. FurnitureMax unit, at Westgate Shopping Center in Wichita, KS during the Fall.

 

Circuit City Stores (804-527-4000) plans to open a 37,500 sq.ft. store at Westgate Shopping Center in Wichita, KS during the Fall, and a second store adjacent to Eastgate Shopping Center in Wichita either late this year or early next year.

 

Sports Authority (954-735-1710) plans to open a store in Nagoya, Japan next month and units in Osaka and a second store in Nagoya during September.  The company is planning to open as many as 20 stores in Japan and is looking at the possibility of opening stores in Hong Kong and Malaysia.

 

Spiegel, Inc. (708-769-2596) plans to double the number of Eddie Bauer stores in the United States in the coming five to six years.  The company currently operates 296 units in the U.S. and 30 stores in Canada.  For the remainder of 1996, the company is planning to open 20 units.

 

Sony Theaters (212-833-6160) plans to build a 16-screen, 72,000 sq.ft. movie theater at Keystone Park Center in Dallas, TX.  The project is expected to open during December.

 

General Cinema Corporation (617-277-4320) plans to open a 16-screen movie theater at Bellevue Place in Bellevue, WA during 1997 and an 11-screen theater at Seattle Place in Seattle, WA during 1997.

 

Eagle Hardware & Garden (206-227-5740) plans to open a 130,000 sq.ft. store in Tacoma, WA during 1997.

 

 

Financial News...

 

Fretter, Inc. (810-220-5000) reported a net loss of $222 million for the first quarter, compared to net earnings of $3.665 million during the first quarter last year.  The company has applied for going out of business permits in each municipality in which it currently operates stores and intends to close its remaining stores.

 

Charming Shoppes, Inc. (215-245-9100) reported a first quarter net loss of $6.158 million, compared to a net loss of $4.37 million during the first quarter last year.  First quarter sales were $237.454 million, compared to $244.342 million last year.  Comparable store sales increased three percent.  During the quarter, the company opened two stores and closed 78 and currently operates 1,225 units in 46 states trading as Fashion Bug and Fashion Bug Plus.

 

Bradlees, Inc. (617-380-5863) reported a first quarter net loss of $53.7 million compared to a net loss of $32.4 million during the first quarter last year.  Total sales were $349.9 million versus $392.4 million last year and comparable store sales fell 12.6%.  During the quarter, the company opened three stores and currently operates 124 discount department stores in ME, NH, MA, CT, NY, NJ, PA and RI.

 

Lechters, Inc. (201-481-1100) reported a first quarter net loss of $3.526 million, compared to a net loss of $2.344 million during the first quarter last year.  First quarter sales increased 5.8% to $84.992 million, with sales in the Lechters Housewares division up 4.7% and up 9.8% in the Famous Brands Housewares Outlet division.  Comparable store sales for the quarter increased 0.3% in the Lechters division and fell 4% in the Famous Brands Housewares division.  During the quarter, the company opened two stores and closed three.  The company operates 476 Lechters Housewares stores, 150 Famous Brands Housewares Outlets and 15 Kitchen Place stores.

 

Quantum Restaurant Group, Inc. (516-627-1515) reported that its first quarter revenues increased 11% to $48.869 million compared to $44.042 million during the first quarter of last year.  Net income was up 11% to $1.544 million compared to $1.386 million last year.  Comparable store sales at Morton's of Chicago restaurants increased 10% and at Bertolini's Authentic Trattorias, 8.8%.  The company operates 74 restaurants in 20 states trading as Morton's of Chicago, Bertolini's Authentic Trattorias. Mick's and Peasant.

 

Hannaford Bros. Co. (207-883-2911) reported that its sales and other revenues for the first quarter were $690.525 million, a 15.3% increase over the $598.796 million reported during last year's first quarter.  Consolidated net earnings were $14.674 million, less than one percent higher that last year's results.  Comparable store sales increased 3.8%.

 

Sears, Roebuck and Co. (708-286-2500) reported that its first quarter income from continuing operations increased 21.8% to $151 million compared to $124 million during the first quarter last year.  Revenues increased 7.1% to $7.99 billion from $7.46 billion last year and comparable stores sales increased 4.5%.

 

Starbucks Corp. (206-447-1575) reported a second quarter consolidated net sales increase of 52% to $153.6 million from $101.113 million during the second quarter last year.  Retail sales increased 52% to $132.3 million and comparable store sales increased 8%.  The company operates 828 retail locations nationwide.

 

Blimpie International, Inc. (212-673-5900) reported that revenue for its third fiscal quarter increased 36% to $9.27 million from $6.815 million last year.  Net income increased 96% to $1.247 million from $635,388 million.  The company currently operates and franchises 1,300 sandwich restaurants in 44 states.

 

 

Mergers & Acquisitions

 

Whataburger (512-878-0650) recently sold 41 restaurants in AZ to Paul Cohen and Paul Thomas.  The two plan to continue to operate the restaurants, open 50 more in AZ and expand the concept to CA.  The two also acquired the development rights for AZ.  Whataburger operates 500 restaurants throughout the Southwest.

 

Fred Meyer (503-232-8844) plans to acquire 49 Merksamer Jewelers stores in CA, WA, NM, KS, MO, IL, WI, MI, OH, MD and VA.  The company plans to purchase all of the outstanding shares of Merksamer Jewelers stock by the end of this month.  Merksamer Jewelers will become a subsidiary of Fred Meyer Jewelers, Inc. and continue to use the Merksamer name.  The purchase will give Fred Meyer 194 jewelry stores in 14 states.  The company also reached an agreement with Larry's Markets in which Fred Meyer will acquire a Larry's LoBUCK$ unit in Seattle, WA and convert it to a Fred Meyer Marketplace.  The deal is expected to be completed by the end of this month.

 

Brown Harris Stevens (212-508-7200) announced that its Commercial Services Division recently acquired Wilrock National, Inc., a real estate firm specializing in commercial services for the entertainment industry throughout the U.S.  Wilrock National's two founding principals will be joining Commercial Services Division.

 

Discovery Technologies, Inc. (719-575-0503), the largest ZuZu Handmade Mexican Food franchisee, recently announced that it has signed a letter of intent to purchase 17 existing Arby's restaurants in CO.  The agreement also calls for the development of seven additional units, all of which will be dual-branded with ZuZus.

 

Ramco-Gershenson, Inc. (810-350-9900) was recently acquired by RPS Realty Trust.  The newly formed company has been named Ramco-Gershenson Properties Trust and has become a self-administered, self-managed, fully-integrated professional real estate investment trust principally engaged in the business of owning, managing, developing and acquiring shopping center properties.  RPS contributed $68 million and six shopping centers to the partnership.  The fund will be used to retire a portion of the debt on the Ramco properties.  Ramco contributed the fee interest in 20 shopping centers and partnership interest in two developments, along with its management company.  The combined assets of the venture total approximately $280 million.

 

 

Real Estate Professionals Making News

 

Sony Development, a division of Sony Retail Entertainment (212-833-6160) recently announced that Jonathan Swerdlow has joined the company as vice president, strategy and business development.  In his new position, he will be responsible for strategic alliances and sponsorship opportunities.  He will also manage leasing projects as well as site selection and location planning for new Sony Development retail entertainment centers.

 

Genesco (615-367-8281) recently named Harvey J. Olsher vice president of real estate.  In his new position he will be responsible for the company's retail property management, including its Journeys, Jarman, Johnston & Murphy and outlet retail operations.

 

The Mills Corporation (202-965-3600) announces the following promotions: Steven J. Jacobsen to associate director of the development department; Patricia Schott to manager of management services; Marcie Connolly to vice president of leasing and Jeannie Fillatti to vice president of leasing.

 

RW Robideaux & Company (509-838-7970) announces that Machelle Dinneen has been promoted to managing director of retail properties.  Her new responsibilities put her in charge of the operations of all retail properties managed by the company.

 

Miller-Valentine Realty, Inc. (513-293-0900) announces that Peter S. Nichols has joined the company.  He will be responsible for retail tenant representation through leasing or build-to-suit opportunities with additional activity in third party leasing.

 

Kislak Lease Services (908-750-4500) announces that the company has promoted Louis Ferro to senior vice president and Michael Greco to vice president and the appointment of Michael Zwang.

 

Abrams Properties, Inc. (404-252-8220) announces that Kimberly T. Brown has joined the company as director of property management and that Brennon E. Smith has joined the company as construction manager.

 

 

Lease Signings

 

The Macerich Company (310-394-6911) leased 1,734 sq.ft. to Broadway Eyeworks at Broadway Plaza in Walnut Creek, CA; 515 sq.ft. to Pretzel Maker and 150 sq.ft. to Treasure Island at Capitola Mall in Capitola, CA; 672 sq.ft. to Whitehall Jewelers at Chesterfield Towne Center in Richmond, VA; 1,000 sq.ft. to Fine Jewelers at County East Mall in Antioch, CA; 4,047 sq.ft. to Fazoli's, 2,001 sq.ft. to Flight Line, 2,619 sq.ft. to Jay Jacobs for Men, 1,779 sq.ft. to Journeys and 4,120 sq.ft. to Limited Too at Crossroads Mall in Boulder, CO; 650 sq.ft. to Smokin Mo's BBQ at Crossroads Mall in Oklahoma City, OK; 7,583 sq.ft. to Denim Works at Greeley Mall in Greeley, CO; 2,250 sq.ft. to Elegance and 2,000 sq.ft. to Vans Shoes at Lakewood Center Mall in Lakewood, CA; 360 sq.ft. in Sugar Shack at The Mall at Northgate in San Rafael, CA; 1,875 sq.ft. to Headshots, 5,235 sq.ft. to Party Plaza and 2,070 sq.ft. to The Shoe Shop at Villa Marina Marketplace in Marina del Rey, CA; 2,490 sq.ft. to Leeds Shoes at Fresno Fashion Fair in Fresno, CA and 7,300 sq.ft. to Romanos Macaroni Grill at Huntington Beach Mall in Huntington Beach, CA.

 

Schultz Foster Addison Real Estate, Inc. (904-354-1789) leased 1,500 sq.ft. to Smooth Ventures at Pablo Village in Jacksonville Beach, FL.

 

RJS/Jackson (407-395-1200) leased 1,207 sq.ft. to Domino's Pizza at Greenwood Shopping Centre in Palm Springs, FL and 3,880 sq.ft. to Beverly Hills Cafe at Emerald Woods Plaza in Hollywood, FL.

 

Linda Crowley & Associates, Inc. (714-857-7940) leased 1,686 sq.ft. to Sudz for a laundromat at Driftwood Village in Ontario, CA.

 

CB Commercial Real Estate (714-939-2217) leased the following spaces to Juice It Up!: 900 sq.ft. at Foothill Ranch Marketplace in Foothill Ranch, CA; 990 sq.ft. at Sycamore Plaza in Lake Forest, CA; 800 sq.ft. at La Habra Marketplace in La Habra, CA and 1,235 sq.ft. at Aliso Pacific Plaza in Aliso Pacific, CA.

 

Pfeil & Company, Inc. (518-581-8280) leased 2,720 sq.ft. to Daddy Raze Fun Furniture at The Crossing in Clifton Park and Halfmoon, NY.

 

JRS Realty (413-525-0037) leased 27,000 sq.ft. to Geissler's Super Market at Southgate Shopping Plaza in Agawam, MA.

 

First New York Realty Co., Inc. (212-682-9840) leased 160,000 sq.ft. to Kmart at the former Wanamaker Department Store on Astor Place in New York City, NY.

 

Pyramid Brokerage Company, Inc. (315-445-1030) leased 1,524 sq.ft. to The Hoover Company and 1,825 sq.ft. to ImagePro Signs And Graphics at Northern Lights Shopping Center in Mattydale, NY.

 

1st Realty (609-698-6100) leased 1,200 sq.ft. to Mrs. Duff's Gifts, 2,500 sq.ft. to Coastal One Stop Decorating and 500 sq.ft. to Specialty Sunglasses at Gunning River Mall in Barnegat, NJ; 5,000 sq.ft. to Dollar Plus at Manahawkin Center in Manhawkin, NJ and 1,200 sq.ft. to Books Plus at Northend Pavilion in Ocean Grove, NJ.

 

The Greenberg Group, Inc. (516-295-0406) leased space to Performance Bicycle at Barracks Road Shopping Center in Charlottesville, VA; Fremont Hub in Fremont, CA and Sudley Manor Square in Manassas, VA.

 

Welco Realty, Inc. (914-833-1340) leased space to Party City at Georgetown Shopping Center in Brooklyn, NY; Atlantic Terminal in Brooklyn, NY; Pergament, Toys 'R Us Shopping Center in Queens, NY; Bay Plaza Shopping Center in Bronx, NY and at Bayside in Queens, NY.

 

CB Commercial Real Estate-San Diego, CA (619-546-4663) leased 1,500 sq.ft. to Diedrich's Coffee House in San Diego, CA; 2,550 sq.ft. to Medina's Mexican Restaurant in El Cajon, CA; 39,950 sq.ft. to Dixieline Lumber Company in Poway, CA; 1,238 sq.ft. to Juice It Up! at Hazard Center in Mission Valley, CA; 2,800 sq.ft. to William Helm for a karate studio in San Deigo, CA; 5,720 sq.ft. to McGregor's G&A Restaurant at Rancho Mission Plaza in Mission Valley, CA; and 756 sq.ft. to Tudor Too Coffee Shop at Hazard Center in San Diego, CA.

 

Mid-America Real Estate Corp. (708-954-7300) leased 7,200 sq.ft. to Hacienda Mexican Restaurant at Randhurst Mall in Mount Prospect, IL and 5,600 sq.ft. to The Melting Pot at Plaza Verde Shopping Center in Buffalo Grove, IL.

 

MBK Real Estate, Ltd. (714-789-8300) leased 30,000 sq.ft. to OfficeMax at Riverside Marketplace in Irvine, CA.

 

 

Buyers & Sellers of Commercial Properties

 

Breslin Realty brokered the sale of a parcel of land to Pep Boys.  Pep Boys plans to build a 21,000 sq.ft. Supercenter on the site.  The purchase price was $1.65 million.

  For more information, contact Michael Lembeck at (516-741-7400), Fax (741-7128).

 

Gallivan Real Estate Consultants has the listing to sell a 21,690 sq.ft. NNN facility in West Springfield, MA.  The site is located across from Costco, Home Depot, Chili's and Staples.  The asking price is $1.5 million.  The company also has the listing to sell a 9,300 sq.ft. strip center in Springfield, MA.  The site is anchored by Blockbuster Video.  The asking price is $975,000 and financing is available.

  For more information, contact Joseph Benoit at (413-566-8006), Fax (566-2227).

 

Aminoff & Company is in the market to acquire turn-around and value-added projects nationwide as well as long-term single-tenant net leased properties.

  For more information, contact Gary A, Aminoff at (310-201-9600), Fax (201-4311).

 

VCR is in the market to acquire build-to-suit properties for credit tenants.  The company will pre-buy, issue takeouts or joint venture with the goal of owning.

  For more information, contact Joe Gluckman at (210-822-5000), Fax (826-8282).

 

Chase Properties is in the market to acquire strip shopping centers nationwide, exclusive of the West Coast.  Preferred properties have a minimum GLA of 150,000 and the company has a particular interest in REO properties.

  For more information, contact David Palchesko at (216-464-6626), Fax (464-6346).

 

McNeil Real Estate Management, Inc. has the listing to sell Island Plaza Shopping Center in Fort Myers, FL.  The 60,616 sq.ft. project is anchored by Kash 'n Karry and has three undeveloped pad sites.  The asking price is $2.5 million.  The company also has the listing to sell Edison Ford Square in Fort Myers, FL.  The 144,069 sq.ft. project is a redevelopment candidate.  The asking price is $5 million.

  For more information, contact Larry Foster at (214-448-5838), Fax (448-5714).

 

Jobar Realty Company is in the market to acquire net leased, freestanding, credit rated tenants nationwide.  The company prefers to buy older properties with below market rents.  All cash transactions are possible and closings can be within 30 days.

  For more information, contact Michael Schmidt at (201-569-8500), Fax (569-2224).

 

Snow, Wall & Dotson has the listing to sell Kensington Square in Murfreesboro, TN.  The company has the listing to sell 100 Oaks in Nashville, TN.  Eight outlots are available.  The company has the listing to sell Hickory Village in Jackson, TN.  The project is anchored by Toys 'R Us and outlots are available.  The company also has the listing to sell Old Fort Crossing in Murfreesboro, TN.  The project has both outlots and net leased properties available.

  For more information, contact Steven Dotson at (615-893-1130), Fax (893-3246).

 

Zimmerman/Cohen has the listing to sell a Foodsco supermarket in San Francisco, CA.  The 59,710 sq.ft. project is NNN bond leased with periodic rental increases.  The asking price is $7.8 million and financing is available.

  For more information, contact Richard Zimmerman at (818-884-3056), Fax (884-3856).

 

Auerbach Associates has the listing to sell Presidential Plaza in Fort Lauderdale, FL.  The 88,334 sq.ft. project is anchored by Winn-Dixie Marketplace and Eckerd Drugs.  The asking price is $5.5 million.  The company has the listing to sell Springtree Center in Fort Lauderdale, FL.  The 46,759 sq.ft. project is anchored by Payless Shoes and Party Supermarket.  The asking price is $4.5 million.  The company has the listing to sell Pembroke Plaza in Fort Lauderdale, FL.  The 20,250 sq.ft. project has an asking price of $2.2 million.  The company also has the listing to sell Emerald Plaza.  The 13,650 sq.ft. project is anchored by Circle K.  The asking price is $1.2 million.

  For more information, contact Stuart Auerbach at (305-672-0492), Fax (534-6643).

 

Snyder, Sheets, Stewart and Goseland has the listing to sell Cedar Village Center in Wichita, KS.  The 15,196 sq.ft. project is 100% leased.  The asking price is $675,000 and financing is available.  The company also has the listing to sell a 24,000 sq.ft. Michael's in Wichita, KS.  The project has a 10-year fixed NN lease.  The asking price is $1.45 million and financing is available.  The company is in the market to acquire commercial centers in Reno, NV.  Properties with prices from $500,000 to $2.5 million will be considered.

  For more information, contact Rod Stewart at (316-683-3663), Fax (683-3238).

 

Sigma National, Inc. brokered the sale of seven acres of land in Chester, VA to CBL & Associates Properties, Inc.  A 54,000 sq.ft. Hannaford Supermarket will be built on the site.

  For more information, contact Tred Spratley at (804-320-6100).

 

1st Realty has the listing to sell 15 acres of land in Bayville, NJ  The asking price is $800,000.  The company has the listing to sell 15 acres of land in Manahawkin, NJ.  The site has 2,400 feet of frontage on Route 9 and has preliminary approvals for 80,000 sq.ft. of retail/office space.  The asking price is $250,000.  The company also has the listing to sell three acres of land in Barnegat, NJ.  The site has 285 feet of frontage on Bay Avenue.  The asking price is $250,000.

  For more information, contact Garry Wilson at (609-698-6100), Fax (698-0005).

 

CB Commercial Real Estate Group represented General American Life Insurance Co. in its sale of Wing Park in Elgin, IL.  The 90,000 sq.ft. project has a vacant anchor space and is only 35% occupied.  The buyer was a private Illinois land trust.

  For more information, contact Bob Mahoney at (708-706-4930).

 

CB Commercial Real Estate Group brokered the sale of a 25,600 sq.ft. building within Sunnymead Village Center in Moreno Valley, CA.

  For more information, contact Kelly Patscheck Murphy at (909-788-0880).

 

 

Space Place

 

Connecticut

 

Bristol-  Bristol Commons is anchored by Caldor, Blockbuster Video, Toy Works, Fashion Bug and Pizza Hut.  The 233,000 sq.ft. project has spaces from 1,100 sq.ft. to 12,000 sq.ft. available for lease.  The site fronts U.S. Route 6 & 202 which generates a daily traffic count of 24,000 vehicles.  Demographics include a five-mile population of 92,000 earning $47,000 as the median household income.

  For details, contact Mike Shanahan of Michael Antkies Real Estate at (203-438-9525).

 

Maryland

 

Annapolis-  Jemal's Bay 50 Outlet Center is anchored by Mikasa, Bass Shoes and Royal Doulton.  The 90,633 sq.ft. project has spaces from 800 sq.ft. to 30,000 sq.ft. available for lease.  Demographics include a 10-mile population of 191,450 earning $65,548 as the average household income and a 20-mile population of 697,993 earning $53,500 as the average household income.  In Bladensburg-  Bladensburg Shopping Center is anchored by Blockbuster Video and Bladensburg Pharmacy.  The 33,656 sq.ft. project has spaces from 1,280 sq.ft. to 20,000 sq.ft. are available for lease.  Demographics include a five-mile population of 514,377 earning $43,380 as the average household income.

  For details, contact Norman Jemal of Douglas Development Corp. at (301-984-8400).

 

Greenbelt-  Beltway Plaza Mall is anchored by AMC Theaters, Best, Burlington Coat Factory, Caldor, Frank's, Giant Food, Hollywood Video, Marshalls, PetsMart and Sports Authority.  The 825,000 sq.ft. project has mall spaces from 200 sq.ft. to 26,438 sq.ft. available for lease as well as a 60,000 sq.ft. expansion area, which includes a 25,000 sq.ft. anchor space and up to 22 stores ranging from 1,500 sq.ft. to 4,500 sq.ft.  The project is located at Exit 23 of the Beltway (I-95).  Demographics include a five-mile population of more than 300,000 earning $55,000 as the average household income.

  For details, contact Fred Wine of Quantum Management Company at (301-422-3300), Fax (422-2294).

 

Michigan

 

Hillsdale-  Hillsdale Crossing is anchored by Wal*Mart.  The newly constructed 212,000 sq.ft. project has spaces from 1,600 sq.ft. to 18,000 sq.ft. as well as a 47,000 sq.ft. supermarket pad available for lease.  The site fronts M-99 which generates a daily traffic count of 14,000 vehicles.  Demographics include a three-mile population of 5,280 earning $34,136 as the average income.

  For details, contact Fred Zehnder of Jonesville Development at (800-334-4882, Ext. 2945), Fax (810-755-9348).

 

New Jersey

 

Barnegat-  A 5,000 sq.ft. space, which can be divided, is available for lease at Gunning River Mall.  Also in Barnegat-  Spaces from 1,000 sq.ft. to 10,000 sq.ft. are available for lease at Bayshore Plaza which fronts Route 9.  In Ocean Grove-  Spaces from 900 sq.ft. to 10,000 sq.ft. are available for lease at North End Pavilion.

  For details, contact Garry Wilson of 1st Realty at (609-698-6100), Fax (698-0005).

 

New York

 

Brooklyn-  Brooklyn Junction is anchored by Bed Bath & Beyond, Nobody Beats The Wiz, Service Merchandise, Borders Books, Modell's Sporting Goods, Old Navy Clothing and a supermarket.  The 515,000 sq.ft. project, which has a Spring 1998 planned opening, has spaces available for lease.  The site is located between Eighth and Fourteenth Avenues and 61st and 62nd Streets.  Demographics include a two-mile population of 473,688 earning $39,701 as the average household income.

  For details, contact Fred Burstein of Schuckman Realty, Inc. at (516-496-8888).

 

Gates-  A 78,800 sq.ft. space is available for lease at a strip center.  In Greece-  An 80,087 sq.ft. space is available for lease at a strip center.  In Henrietta-  A 69,000 sq.ft. space is available for lease at a strip center.  In Niagara Falls-  A 78,400 sq.ft. space is available for lease in a strip center.

  For details, contact Jim Matthews of Prime Locations at (214-991-7000), Fax (991-1218).

 

Hyde Park-  Hyde Park Mall is anchored by ShopRite, CVS and Radio Shack.  The 130,000 sq.ft. project has a 63,600 sq.ft. former Jamesway as well as a 15,000 sq.ft. expansion area available for lease.  Demographics include a five-mile population of 75,000 earning $45,000 as the average annual income.

  For details, contact John Azarian of Azarian Management & Development Company at (201-444-9888).

 

Pennsylvania

 

Beaver Falls-  Chippewa Center is anchored by Kmart, Shop 'N Save and Revco.  The project has spaces of 962 sq.ft., 2,240 sq.ft., 2,398 sq.ft. and 7,700 sq.ft. available for lease.  The site fronts Routes 51 and 251.  Demographics include a three-mile population of 19,152 earning $32,506 as the average household income.

  For details, contact Pennmark at (610-272-6500), Fax (272-9450).

 

Bensalem-  A 154,000 sq.ft. former Bradlees store is available for sublease.  The project can be divided.  The site is located on Street Road, near ShopRite Supermarket, Petco, SuperFresh, JoAnn Fabrics, Kmart and A.C. Moore.  Demographics include a five-mile population of 276,327 earning $51,472 as the average household income.

  For details, contact Tony Curcio of Ripco Real Estate Corp. of PA at (610-834-8000).

 

Harrisburg-  Union Square is anchored by Weis Markets, OfficeMax, Gabriel Brothers and Phar-Mor.  The 291,504 sq.ft. project has a 10,800 sq.ft. surplus space from Phar-Mor available for lease.  Demographics include a five-mile population of 160,473 earning $38,130 as the average household income.

  For details, contact Gary Russell of Bennett Williams, Inc. (717-795-1070).

 

Wisconsin

 

Kenosha-  Sun Plaza is anchored by Food 4 Less, Bigs Lots and JoAnn Fabrics.  The 154,000 sq.ft. project has spaces up to 11,700 sq.ft. available for lease.  Demographics include a three-mile population of 84,700 earning $40,500 as the average household income.

  For details, contact HSS Real Estate at (312-849-2044).

 

 

Hair Salons Looking To Cut Deals for New Sites

 

Haircut Place operates 18 locations in CA.  The hair salons occupy spaces of 800 sq.ft. to 1,500 sq.ft. in power centers and regional malls.  Preferred anchors include Kmart, T.J. Maxx, Wal*Mart and supermarkets.  Plans call for the opening of four units in the coming 18 months.  Expansion will take place in Orange and San Diego Counties in CA.

  For more information, contact Samantha Mills, Haircut Place, 1450 Frazee Road, Suite 312, San Diego, CA 92108; 619-296-0377.

 

Holiday Hair Fashions trades as Holiday Hair at 200 locations in DE, MD, NJ, PA, VA and WV.  The hair salons occupy spaces of 900 sq.ft. to 1,200 sq.ft. in regional malls and strip centers.  Plans call for 16 openings in the coming 18 months.  Expansion will take place in the existing markets.

  For more information, contact Ron Chmieleski, Holiday Hair Fashions, PO Box 268, 2020 Hamilton Street, Allentown, PA 18105; 610-820-4930, Fax 820-4941.

 

We Care Hair Development trades as We Care Hair at 152 locations nationwide.  The hair salons occupy spaces of 800 sq.ft. to 1,500 sq.ft. in strip centers.  Preferred anchors include supermarkets.  Growth opportunities are sought nationwide.  Leases running five to 20 years are typical.

  For more information, contact Ron Anderson, We Care Hair Development, 7327 West 90th Street, Bridgeview, IL 60455; 800-676-5264, Fax 708-598-8037.

 

The Cutters, Inc. does business as Bo-Rics Hair Care at 331 locations nationwide.  The hair salons occupy spaces of 1,200 sq.ft. in strip centers.  Growth opportunities are sought nationwide.

  For more information, contact Kevin Lambing, The Cutters, Inc., 1350 Provincial Road, Windsor, Ontario, Canada N9A 6J3; 519-966-2626, Fax 966-2624.

 

Hair Pair Haircutters trades as Hair Pair at three locations in MD.  The hair salons occupy spaces of 1,500 sq.ft. to 2,000 sq.ft. in freestanding facilities, regional malls and strip centers.  Growth opportunities are sought in MD, NJ, NY and VA.

  For more information, contact Daniel Farnsworth, Hair Pair Haircutters, 2901 University Boulevard West, Kensington, MD 20895; 301-933-5566, Fax 933-0031.

 

Supercuts, Inc. trades as Supercuts at 1,165 locations nationwide.  The hair salons occupy spaces of 800 sq.ft. to 1,200 sq.ft. in power and strip centers.  Preferred anchors include supermarkets.  Plans call for 50 openings in the coming 18 months.  Expansion will take place nationwide.

  For more information, contact the director of real estate, Supercuts, Inc., 550 California Street, San Francisco, CA 94104; 415-693-4700.