Issue 36 for the week of October 9, 1996

The Dealmakers Issue Number 36 for the week of October 9, 1996.

My Way by Ted Kraus

I was at the Chicago Dealmaking event recently and it was the slowest of the last five shows I've been to, but most of the attendees seemed content with its results, which is all that counts (but it was completely dead after lunch). Midwesterners appear to be more laid back/solemn in their approach to leasing/development than the rest of the nation; also Chicago is one of the most over built markets in the country, which I'm sure doesn't help. I did notice one thing, however, the average attendee was older than those at most of the other shows I've been to, I was almost a youngster compared to some of the "dealmakers" present.

In fact, many of my conversations were about the "problems" with the "younger generation." Now that I'm in my fifties, I can talk like that. (However, I swear when I look in the mirror every morning, I see this 23-year-old, thin, stud. Maybe I did inhale at Woodstock.) One friend who is a retailer complained the "younger generation" doesn't understand how to lease (FYI, neither do a lot of old farts). He claims that 99% of the leasing agents that call him start out with either "what a great location they're leasing" or "what a great deal they can make" none bother to learn anything about his business and say "this would make a great store for you." Which is all he really cares about and the only way to really get his attention.

Most leasing agents explain "they're anchored by Kohls and Best Buy with 127,216 people living within five miles." Beyond the basic demographics, they know nothing of their market nor can they provide a good reason for the tenant to be there. They feel all the "R&D" should be done by the retailer, not the "owner" of the property. The leasing agent's salvation is that in most cases, the person they are offering the site to knows as little about what makes a good site for their company as they do (that's where they old timers "shine," they usually understand what makes a good store for their company, they've worked in the industry when the majority of stores were owned by entrepreneurs and the location had to be good or both they and the company were "dead meat.") I guess it would require too much work for the leasing agent to know about the merchant's needs.

In a related conversation, I was talking to a consultant who does demographic studies for retailers/developers and regression analysis. He contended tenant mix, center layout and co-tenancy requirements didn't matter--if the demographics made sense, the tenant could locate anywhere (what's really scary is companies pay $25,000 to $50,000 for this garbage). Now, if he was a 24-year-old recent college graduate, I wouldn't think he was stupid, just naive, but he's in his 50's and has been doing this for nearly 20 years. I wonder how many retailers he helped go bankrupt?

He did show me a software program on his laptop that was impressive however. It's a mapping program where you put in two cross streets and your desired radius, it then shows ring(s) of income, population density, etc. You can then plug in your own competing stores and place a value of what impact they would have on a proposed site. In addition to adding store competition on the map and their impact on the proposed location, based on corporate history, it provides a projected volume. This projection is not the gospel, but it is another excellent tool (as is the fax machine, computers, e-mail, etc.). It can't be relied on to make final decisions, but it is useful.

I also had coffee with two friends who are competing retailers. Since we all have known each other for 15 to 20 years, there was a lot of candor in our conversation. Anyway, the first retailer complained that because the "other guy" increased the size of their stores from 30,000 sq.ft. to 40,000 sq.ft., his company followed suit, but the increase in size provided no increase in incremental sales, just higher occupancy costs. The second retailer complained that because the "other guy" upscaled their stores, his company followed suit, but had a similar problem of not increasing sales, just increasing costs. Anyway, they both went on for 15 minutes on how the other one was causing higher occupancy costs and increased rents for the other before finally agreeing that both of their companies were stupid. Their companies were more concerned with competing with one another than providing additional services/goods for the consumer, which would ultimately increase sales and profits. That seems to be a common problem today, more companies competing with one another, than competing for the customer.

What I found humorous was during a conversation with another retailer, I presented a center we're leasing. They became extremely emotionally, explained how they already were underway with negotiating on a better site in the market and anyway, my client is a whore and wants too much money. I responded with, "I didn't even discuss rent yet, how can it be to high?" He explained he knew my client and they are whores, so the rent had to be high. I explained that on this particular property, they're "working" 42nd Street, not Fifth Avenue, so does he want a package? Finally, he calmed down a little and said only if they stop being so greedy. I asked if he ever had a deal with them, he said no. I asked if they ever tried to make a deal with him, he said no. I then asked how he knew they were "whatever," he said he heard about 'em from other real estate people and didn't want the grief required to do a deal. Now don't get me wrong, I'm not saying my site is the "cat's meow," but it's decent. Why bust my hump until you know the rent is "wrong" or the site doesn't work for you. Starting with a negative opinion is illogical and didn't your mother tell you not to believe everything you hear.

On a different subject, while I keep complaining that finding shopping centers for our clients to buy that makes economic sense is becoming increasing more difficult, there is a "new" trend I've noticed. I'm coming across more and more regional enclosed malls being sold at an 11% to 13% cap rate that are owned by the "big boys." (Ten years ago, it was at a 6% to 8% cap rate). Now, an 11% to 12% cap with upside is what most of our clients want, but I argue (after presenting 'em with the property) with them not to buy the mall. If a "Rouse" can't get the center leased beyond an 80% occupancy rate, how can they? They then explain to me, (I've had this conversation five times in the last seven months) "you'll do the leasing and make a fortune." I try to explain that 1) I'm not a mall oriented leasing agent, 2) I have no where near the clout as a "Rouse" does, but they don't listen... they just see a "bargain." A bargain by my definition is different from their's; mine is something you buy at such a good price, you're almost guaranteed to make a profit, their's is property you buy at an 11% to 12% cap rate. Nothing else counts. These middle market malls are no bargain, in fact for most investors, they're guaranteed to lose money.

Department Stores Expanding Nationwide

Target operates 737 promotional department stores nationwide. In addition to carrying apparel for the family, housewares, health and beauty aids, toys and general merchandise, some of the newer Target stores offer a coffee and juice bar, banking facilities, florist and a portrait studio. Also, the Super Target stores include a supermarket. The traditional Target store uses 90,000 sq.ft. and the super stores occupy spaces of up to 180,000 sq.ft. The company is pursuing expansion opportunities nationwide in freestanding facilities, malls and strip centers.

For more information, contact Dick Brooks, Target, 33 South Sixth Street, Minneapolis, MN 55440; 612-304-6099, Fax 304-6008.

Mervyn's, a division of Dayton Hudson Corp., operates 287 promotional department stores nationwide. Spaces of 75,000 sq.ft. to 100,000 sq.ft. are used in malls and strip centers. Expansion opportunities nationwide will be considered.

For more information, contact Carol Johnson, Mervyn's, 777 Nicollett Mall, Minneapolis, MN 55402; 510-786-8581.

Nordtsrom, Inc. operates 81 full-line, traditional department stores trading as Nordstrom's at location throughout the nation. Spaces of 200,000 sq.ft. are used in regional malls. The company is scouting the nation for expansion opportunities and recently opened stores in Troy, MI and Denver, CO.

For more information, contact David Mackie, Nordstrom, Inc., 1501 Fifth Avenue, Seattle, WA 98101; 206-628-2111, Fax 628-1776.

Pamida, Inc. operates 148 discount department stores throughout NE, IA, MT, SD, ND, MN, WI, KS, IL, MI, MO, WY, OH, IN and KY. The company prefers sites catering to smaller communities and occupies spaces of 40,000 sq.ft. in freestanding facilities and strip centers. Expansion plans call for 12 openings during the coming 18 months, with growth continuing in the company's existing markets.

For more information, contact Bob Ellison, Pamida, Inc., PO Box 3856, Omaha, NE 68103; 402-339-2400, Fax 596-7330.

Carson Pirie Scott & Co. trades as Carson Pirie Scott, Bergner's and Boston Store at 55 locations in WI, MN, IN and IL. The full-line, traditional department stores occupy spaces of 125,000 sq.ft. in malls. Plans call for two to five openings annually. Expansion will focus on the Midwest.

For more information, contact Paul Ruby, Carson Pirie Scott & Co., 331 West Wisconsin Avenue, Milwaukee, WI 53203; 414-347-5306, Fax 276-9108.

Burlington Coat Factory Warehouse trades as Burlington Coat Factory Warehouse at over 250 locations nationwide, in addition to Cohoes at five locations. Burlington Coat features outer wear and apparel for the family, in addition to home decor items and accessories at discount prices. The stores use spaces of 50,000 sq.ft. to 120,000 sq.ft. in malls, freestanding facilities, power and strip centers. Cohoes caters to an affluent clientele and carries apparel, shoes and gifts at discounted prices. The stores utilize spaces of 25,000 sq.ft. to 40,000 sq.ft. in malls, freestanding facilities, power and specialty centers. Expansion opportunities for both chains are sought nationwide.

For more information, contact Lee Kilcollum, Burlington Coat Factory Warehouse, 1830 Route 130 North, Burlington, NJ 08016; 609-387-7800, Fax 387-7071.

Federated Department Stores trades as The Bon Marche and Bloomingdale's. The Bon Marche chain consists of 42 locations in ID, MT, OR, WA and WY. The full-line traditional department stores use spaces of 40,000 sq.ft. to 178,000 sq.ft. in malls and downtown locations. Expansion plans include two openings in MT and WA. Bloomingdale's operates 17 full-line, traditional department stores in FL, IL, MD, MN, NJ, NY, PA, VA and MA. The stores use spaces of 86,000 sq.ft. to 124,000 sq.ft. in malls and downtown locations. Plans call for seven openings in CA and FL during the coming 18 months.

For more information, contact Paula Coffey, Federated Department Stores, 7 West 7th Street, Cincinnati, OH 45202; 513-579-7905, Fax 579-7185.

May Department Stores Co. operates 54 stores as trading Lord & Taylor at locations nationwide. The full-line traditional department store chain occupies spaces of 120,000 sq.ft. to 150,000 sq.ft. in malls. Expansion will take place nationwide. The parent company also operates the 52-unit Robinson-May chain of department stores with locations nationwide. Robinson-May uses 120,000 sq.ft. to 150,000 sq.ft. in malls and is expanding nationally. The Foley's division consists of 49 stores located in AZ, CO, NM, OK and TX. Spaces of 150,000 sq.ft. to 200,000 sq.ft. are used in malls. Foley's will consider sites within its existing states of operations for growth opportunities. May Department Stores Co. also operates the 45-unit Hecht's department store chain with stores in MD, NC, VA and Washington, D.C. This division utilizes spaces of 120,000 sq.ft. to 150,000 sq.ft. in regional malls. Growth will continue in the chain's existing markets. Kaufmann's division includes 40 stores in NY, OH, PA and WV. Spaces of 120,000 sq.ft. to 150,000 sq.ft. in malls. Expansion opportunities will be considered in the existing states of operation. Filene's, a 36-unit chain of full-line, traditional department stores, operates locations throughout the northeast. Spaces of 120,000 sq.ft. to 150,000 sq.ft. are used in malls, while future growth will be concentrated in the chain's existing areas of operation. Famous-Barr operates 30 department stores in MO, IL and IN. Using spaces of 120,000 sq.ft. to 150,000 sq.ft. in malls, the chain will considered expansion possibilities in its existing markets. The parent company also operates the eight-unit Mejer & Frank chain in OR and WA. Spaces of 120,000 sq.ft. to 150,000 sq.ft. are used in malls, while future growth will be focused on the existing areas of operation. The Strawbridge chain operates 20 departments stores in DE, NJ and PA. using spaces of 120,000 sq.ft. to 150,000 sq.ft. in regional malls, the company is seeking growth opportunities in its existing markets.

For more information, contact R. Dean Wolfe, May Department Stores, Co., 611 Olive Street, St. Louis, MO 63101; 314-342-6300, Fax 342-4374.

Buyers & Sellers of Commercial Properties

RD Management Corp. is looking to sell an outlot in Fern Park, FL and two outlots at Town Corral Shopping Center in Kissimmee, FL; an outlot in Niles, IL; an outlot at Richmond Plaza in Richmond, KY; two outlots at Mystic Mall in Chelsa, MA; an outlot in Livonia, MI; an outlot at Swartz Creek Plaza in Swartz Creek, MI; an outlot at Landmark Plaza in Saginaw, MI; three outlots at Midway Center in St. Paul, MN; an outlot in Mount Olive, NJ; two outlots at Williamstown Shopping Center in Williamstown, NJ; an outlot in Vineland, NJ; an outlot in Deer Park, NY; an outlot at Lake Shore Plaza in Lake Ronkonkoma, NY; an outlot at Five Points Shopping Center in Cleveland, OH; two outlots at Plaza Centro II in Caguas, PR; four outlots at Los Colobos Shopping Center in Carolina, PR and two outlots at Western Plaza in Mayaguez, PA.

For more information, contact MaryAnn Savarese at (212-265-6600).

Kin Properties, Inc. is in the market to acquire single tenant properties nationwide. Properties occupied by Kmart, Target, Wal*Mart, supermarkets and other retailers are preferred.

For more information, contact Lee Cherney at (914-683-8080), Fax (683-8088).

R.J. Brunelli & Co. has the listing to sell a 19,000 sq.ft. strip center in Sayreville, NJ. The project is anchored by Quick Chek and has the potential for a drug store tenant. The asking price is $750,000.

For more information, contact Carl Minue at (908-721-5800).

Stanley Gruber, Inc. is in the market to acquire retail properties nationwide. Single tenant, NN or NNN short or long term leases will all be considered. Existing financing or all cash transactions are possible.

For more information, contact Stanley Gruber at (516-296-3200), Fax (294-3202).

Delta Group Real Estate, L.C. has the listing to sell 24 acres of land fronting Old U.S. Highway 40 at Lee's Summit Road in Kansas City, MO. Full access with a signalized intersection is planned for the site. Development site asking prices start at $4.75 per square foot.

For more information, contact Scott Sacco or Jerry Byerly at (314-947-4455), Fax (947-9144).

KLNB, Inc. has the listing to sell Randallstown Shopping Center in Baltimore, MD. The 125,000 sq.ft. project is anchored by Food Lion. An 89,000 sq.ft. former Ames store is currently vacant. The asking price is $3.75 million in fee.

For more information, contact Patrick Miller at (410-321-0100), Fax (321-0129).

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

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

Over The Mountain Properties has the listing to sell a recently constructed Winn Dixie strip center in Huntsville, AL. The 115,800 sq.ft. project is anchored by a 44,000 sq.ft. Winn-Dixie supermarket. The company is also in the market to acquire retail properties in any condition at a 12% cap rate.

For more information, contact Jim Thomas at (205-967-1145), Fax (967-1141).

Sale Commercial Properties, Inc. has the listing to sell a 20,205 sq.ft. Books-A-Million store in Shreveport, LA. The project is located near Southpark Mall and has a 10-year net lease.

For more information, contact William Sale at (318-746-1700), Fax (742-2676).

Hayward Group, Inc. is in the market to acquire single tenant supermarkets as well as 75,000 sq.ft. to 200,000 sq.ft. supermarket-drug store anchored shopping centers in the areas of Dallas, TX; San Diego and San Francisco, CA; Phoenix, AZ; Portland, OR and Seattle, WA as well as in the states of FL, GA, NC and SC.

For more information, contact Robert Block at (312-489-8771), Fax (489-8831).

The Mulkey Corp. has the listing to sell Imperial Plaza in Auburndale, FL. The 122,000 sq.ft. project is anchored by Winn-Dixie and Walgreens. Other tenants include Radio Shack, Heilig-Meyers, Family Dollar, Dollar General and Subway. The net operating income is $475,000. The asking price is based on an 11% to 12% cap rate and financing is available.

For more information, contact T. Dan Mulkey at (813-888-9841), Fax (886-2792).

Fidelity Mortgage is in the market to acquire triple net leased properties.

For more information, contact Thomas Vincent at (847-330-1166), Fax (330-0323).

United Commercial Realty has the listing to sell Palm Plaza Shopping Center in Weslaco, TX. The 175,816 sq.ft. project has an asking price of $4.35 million and seller financing is possible.

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

Long & Foster Commercial Network is in the market to acquire shopping centers in need of renovation, raw land for community strip centers and one to five acre sites for convenience stores.

For more information, contact William McLaughlin at (800-458-0272), Fax (717-267-2164).

First American Realty has the listing to sell a 53,945 sq.ft. Wal*Mart in San Antonio, TX. The building can be expanded by 20,000 sq.ft. and is located on a corner site. The primary lease term expires in November, 2007 and the lease has six options running five years each. Actual 1995 income was $209,530 net net. The asking price is $2.2 million.

For more information, contact Jim Akin at (210-496-7775), Fax (496-3256).

Cawley International has the listing to sell Edison Ford Square Shopping Center in Fort Meyers, FL. The 134,319 sq.ft. project, plus pad site, is 58% leased and has an NOI of $362,710. The asking price is $4 million for the shopping center and $1 million for the pad site.

For more information, contact Douglas Jones at (214-770-2189), Fax (770-2199).

The Free Standing Real Estate Company, an affiliate of Trammell Crow Company, is in the market to acquire single tenant free standing retail/restaurant properties with NNN leases. Requirements include east coast locations, 2,000 sq.ft. to 50,000 sq.ft. in size, all credit levels, short and long term leases. The company will also enter into sale/leaseback arrangements. Multiple property packages are preferred.

For more information, contact David Errico at (617-482-0400), Fax (482-5950).

Triple Crown Properties has the listing to sell Roseburg Plaza in Roseburg, OR. The 64,050 sq.ft. project is anchored by Safeway and Thrifty Payless. The asking price is $2.1 million and financing is available.

For more information, contact Shelley Johnson at (541-957-1505), Fax (957-1869).

Bennett Williams Realty, Inc. has the listing to sell Cloister Shopping Center in Lancaster, PA. The 52,000 sq.ft. project is 96% occupied. The asking price is $3.7 million.

For more information, contact Rich Wolman or Jamie Bracken at (717-390-9858), Fax (390-9860).

Outlet Tenants Seeking Growth Opportunities

Jones Apparel Group, Inc. trades as Jones New York Factory Store at 200 locations nationwide. The stores carry the Jones New York line of sportswear, suits, skirts, dresses and blouses for women. Spaces of 2,200 sq.ft. to 5,000 sq.ft. are used in outlet centers. Expansion will continue nationwide.

For more information, contact Jennifer Matts, 19 Spear Road, Ste. 201, Ramsey, NJ 07446; 201-327-5210, Fax 327-6316.

Bugle Boy Industries, Inc. trades as Bugle Boy Factory Store at 150 locations nationwide, exclusive of MT, WY, SD and ND. The stores carry the Bugle Boy line of clothing for men, women and children. Spaces of 4,000 sq.ft. to 6,000 sq.ft. are sought in outlet centers. The company anticipates opening 15 units during the coming 18 months. Growth will continue nationwide.

For more information, contact Scott Solomon, Bugle Boy Industries, Inc., 355 East Easy Street, Simi Valley, CA 93065; 805-579-2339, Fax 579-2253.

Big Dog Sportswear operates 110 stores nationwide. Specializing in shorts, sweats, swimsuits, t-shirts, outerwear, caps, watches and bags bearing the Big Dog logo for the family, the stores occupy spaces of 3,000 sq.ft. in outlet centers and freestanding facilities. Plans call for 30 openings during the coming 18 months, with growth taking place nationwide.

For more information, contact Mark Green, Big Dog Sportswear, 3510 Torrance Boulevard, Ste. 209, Torrance, CA 90503; 310-792-6272, Fax 792-6277.

Hush Puppies Retail, Inc. trades as Hush Puppies & Family at 58 locations nationwide. Offering shoes for the family, the stores occupy spaces of 3,000 sq.ft. in outlet centers. Plans call for five to six openings annually, with expansion opportunities sought nationwide.

For more information, contact Kathie Porter, Hush Puppies Retail, Inc. 9341 Courtland Drive, Rockford, MI 49351; 616-866-6234, Fax 866-0341.

Royal Doulton Shoppe operates 50 stores nationwide. Specializing in housewares, the stores use 3,000 sq.ft. in outlet centers. Projections call for six to eight openings in the coming 18 months, with growth taking place nationwide. The company typically signs a three to five year lease.

For more information, contact Joe Aronstein, Royal Doulton Shoppe, 701 Cottontail Lane, Somerset, NJ 08873; 908-356-7880, Fax 356-2403.

JH Collectibles, Inc. trades as JH Collectibles at 40 locations nationwide. The ladies apparel stores occupy spaces of 3,000 sq.ft. to 4,000 sq.ft. in outlet centers. Expansion opportunities are sought nationwide.

For more information, contact James Dodd, JH Collectibles, Inc., 4950 South 6th Street, Milwaukee, WI 53221; 414-744-5080, Fax 747-7488.

Fila USA Inc. trades as Fila at 40 locations nationwide. Specializes in athletic apparel and footwear, the stores utilize spaces of 4,000 sq.ft. to 6,000 sq.ft. in outlet and traditional centers. Expansion opportunities are sought nationwide.

For more information, contact Bob Lewald, Fila USA, Inc., 11350 McCormick Road, Ste. 1200, Hunt Valley, MD 21031; 800-787-3452; Fax 410-584-8196.

Harve Bernard Ltd. trades as Harve Bernard at 25 locations nationwide. Offering apparel and accessories for men and women, the stores occupy spaces of 3,000 sq.ft. in outlet centers. Expansion will continue nationwide.

For more information, contact Len Katz, Harve Bernard Ltd., 225 Meadowlands Parkway, Secaucus, NJ 07096; 201-319-0909, Fax 865-7031.

Burlington Brands operates eight stores in SC, NC, AL, FL, TN, PA, NV and MO. Selling irregular apparel for men and women with an average price point of $12.99, the stores occupy spaces of 5,000 sq.ft. in outlet centers. Expansion opportunities are sought nationwide.

For more information, contact Blake Wagner, Burlington Brands, PO Box 1023, Burlington, NC 27215; 910-229-5155, Fax 227-3788.

Helly-Hansen operates five stores in WA, OR and WI. Specializing in outdoor apparel for the family at discount prices, the stores use spaces of 3,000 sq.ft. to 4,000 sq.ft. in outlet centers. Expansion opportunities are sought throughout the western region of the country.

For more information, contact Blair Alexander, Helly-Hansen, PO Box 97301, Redmond, WA 98073-9731; 206-883-8823, Fax 882-4932.

Who's Opening and Where...

The Caribbean Cigar Factory (305-538-6062) recently opened its third store at a location on Fitzpatrick (known as Cigar Alley) in Key West, FL. One third of the store's floor space is covered with a brass and glass walk-in humidor. The company, which features handmade Cuban cigars, currently operates three stores in FL and is planning to open stores in Coconut Grove, FL this month and at Beach Place in Fort Lauderdale, FL next month. The Caribbean Cigar Factory recently completed a $10.6 million public offering.

Pacific Sunwear of California, Inc. (714-701-4000) plans to open 40 stores in 1997 and enlarge as many as 15 existing locations to its 3,000 sq.ft. format to accommodate the addition of junior merchandise and footwear. The company expects to end 1996 with 212 stores nationwide.

Boston Chicken, Inc. (303-278-9500) announces that franchisee BC Golden Gate, L.L.C., the Boston Market developer for northern CA and Reno, NC, plans to almost double its commitment to open Boston Market restaurants over the next seven years from 125 to 236 units. The company currently operates 40 restaurants.

Movado Group, Inc. (212-850-5600) recently opened its first Piaget watch and jewelry store in the U.S. on 57th Street and Fifth Avenue, next to Tiffany, Van Cleef Arpels, Mikomoto and Bulgari in New York City, NY. The store is the company's largest in the chain.

Levi Strauss (415-544-6000) plans to open a 5,900 sq.ft. store in the former Irwin Men's Clothier site at Downtown Plaza in Sacramento, CA. One section of the store will be dedicated to Levi's Personal Pair jeans, where customers can order a "personal pair" of jeans made to their exact measurements. It is the company's first unit in northern CA and its 27th retail outlet nationwide. The company, the world's largest apparel manufacturer with sales of $6.7 billion in 1995, plans to open as many as 100 stores nationwide in the coming five years.

OfficeMax, Inc. (216-295-6411) recently opened an OfficeMax TriMax Super Center in Mexico City, Mexico. It is the company's first unit in Mexico. Three more TriMax units are planned for Mexico City before the end of its fiscal year.

Art Van Furniture (810-939-0800) plans to replace its 17,000 sq.ft. furniture store in Royal Oaks, MI with a 54,000 sq.ft. unit. The company currently operates 23 stores in MI.

Jacobson Stores (517-764-6400) plans to open an 80,000 sq.ft. department store at Mizner Park Shopping Center in Boca Raton, FL next month.

CompUSA, Inc. (214-982-4000) recently opened a 19,000 sq.ft. store at South Plains Mall in Lubbock, TX and a 30,200 sq.ft. store at The Village at Collin Creek Shopping Center in Plano, TX. The company plans to open a 26,900 sq.ft. store at The Plaza at Buckland Hills Shopping Center in Manchester, CT and a 30,600 sq.ft. store at The Shops at Main Street in Bellevue, WA during December. The company also plans to open a 22,200 sq.ft. store at Prairie Towne Center in Madison, WI during September 1997. The new units will include multi-classroom training centers as well as service departments.

Upscale Retailers Plan To Expand Nationwide

Lillie Rubin Affiliates, Inc. trades as Lillie Rubin at 47 locations throughout the nation. The stores specialize in better lines of apparel for women. Spaces of 2,500 sq.ft. to 3,000 sq.ft. are used in malls with major anchors. The company will consider sites nationwide for expansion opportunities.

For more information, contact Stanley Kossoff, Lillie Rubin Affiliates, 15705 N.W. 13th Avenue, Miami, FL 33169; 305-624-4200, Fax 624-9496.

Harold's Inc. trades as Harold's and The Old School Clothing at 33 locations. The company's existing areas of operation cover OK, TX, AL, TN, MD, GA and NC. Specializing in sportswear, suits and accessories for men and women, the company uses spaces of 3,000 sq.ft. to 4,000 sq.ft. in upscale specialty centers. Expansion will continue in the chain's existing areas of operations.

For more information, contact Rainey Powell, Harold's Inc., PO Drawer 2970, Norman, OK 73070; 405-329-4045, Fax 366-2538.

Bernini, Inc. trades as Bernini at 30 locations in CA, NV, CO, GA, FL, NJ, NY and HI. The stores carry better lines of apparel, accessories and leather goods for men and women, while citing Barney's as competition. The stores occupy spaces of 3,000 sq.ft. in malls, freestanding facilities and downtown store fronts. Expansion will continue throughout the states in which the company already operates stores.

For more information, contact Yousef Tarr, Bernini Inc., 10401 Venice Boulevard, Los Angeles, CA 90034; 800-237-6464, Fax 310-842-7860.

Roy Smith Enterprises, Inc. trades as Accente' at 26 locations in AZ, CA, FL, GA, LA, NM, SC, OK, TN, TX and Washington, D.C. The stores carry high-end lines of apparel, accessories and shoes for women. The company cites Neiman Marcus, Saks and Cache as competition. Spaces of 4,000 sq.ft. to 6,000 sq.ft. are used in regional malls, strip and specialty centers catering to an affluent clientele, as well as downtown storefronts in upscale shopping districts, such as Rodeo Drive in Los Angeles or Madison Avenue in New York. The 27-year old company plans to open six units during the coming 18 months. Expansion opportunities are sought in AR, AZ, CA, CO, FL, GA, HI, LA, MD, MO, NV, NC, SC, TX, VA, Puerto Rico and Washington, D.C. The typical deal calls for a lease term of at least 12 years with a large contribution from the landlord for tenant improvements. Demographic requirements include a population count of permanent base/tourist count at a minimum of 750,000 earning at least $50,000 as the average household income. The company also operates a high-end accessory and shoe store concept trading as Accente' Too, while occupying spaces of 1,000 sq.ft. to 1,500 sq.ft. The expansion criteria and plans for Accente Too is identical to that as Accente'.

For more information, contact Nick Robbins, NHR, P.A., Village Green Unit 1402, 3671 Collins Street, Sarasota, FL, 34232-3111; 941-365-8888, Fax 954-9020.

Gucci American, Inc. trades as Gucci at 29 locations throughout the nation. Offering its private line, the stores carry apparel, shoes and leather goods for men and women. Spaces of 2,500 sq.ft. to 15,000 sq.ft. are used in upscale centers and affluent downtown shopping districts. Expansion will continue nationwide.

For more information, contact Harry Axt, Gucci American, Inc., 50 Hartz Way, Secaucus, NJ 07094; 201-867-8800, Fax 867-7412.

The Limited, Inc. trades as Henri Bendel at four locations in OH, MA, NY and IL. The stores feature apparel lines from "leading edge and emerging young designers," in addition to better lines of cosmetics. Spaces of 15,000 sq.ft. are used in malls. Expansion opportunities are sought nationwide.

For more information, contact Buck Sappenfield, The Limited Inc., 3 Limited Parkway, Columbus, OH 43230; 614-479-7000, Fax 479-7450.

New Construction

Rappaport Management Company is currently developing a 57,457 sq.ft. Super Fresh supermarket at Penn Mar Shopping Center in Forestville, MD. In addition, the company is expanding the center by 75,000 sq.ft. to bring its GLA to 372,738 sq.ft. The project is expected to be completed by the end of the year.

For more information, contact Rappaport Management Company at (703-205-6465).

Hiffman Shaffer Associates, Inc. plans to redevelop the former Soo Line Terminal in Chicago, IL into a 115,000 sq.ft. retail center that will be anchored by a 70,000 sq.ft. Dominick's supermarket. Approximately 32,000 sq.ft. of small shop space and two outlots will also be included in the project. Ground breaking is planned for this Fall with a Summer 1997 opening planned.

For more information, contact Hiffman Shaffer Associates at (312-332-3555).

Robert L. Stark Enterprises, Inc. is currently developing The Strip in Akron, OH. The project, which will have a "Times Square" or "Las Vegas strip" type look, will be anchored by Wal*Mart, Border's, Lowe's Home Improvement Warehouse, Old Navy Clothing Co. and Giant Eagle. The site will also have parking for 4,700 cars.

For more information, contact Bob Stark of Robert L. Stark Enterprises, Inc. at (216-464-2860).

General Growth Properties recently completed its acquisition of 130 acres of land in Frisco, TX and plans to develop a 1.1 million sq.ft., two-story regional mall on the site beginning early next year. A Fall 1998 opening is planned. The project is expected to anchored by six department stores, a multi-screen theater and a 120 retail stores. Although no anchors have been officially announced, the company is rumored to be negotiating with Dillard's, Sears, Foley's and J.C. Penney to anchor the project.

For more information, contact General Growth Properties at (312-422-2300).

Mergers & Acquisitions

Phar-Mor (330-746-6641) recently agreed to merge with Shopko (414-497-2211) and pending issues include the raising of financing to the tune of $100,000,000, obtaining shareholder approval and regulatory approvals. The merger adds many more pages to Phar-Mor's well publicized and scandalous story beginning in 1992 with the company's request for a federal investigation of fraud and embezzlement, followed by the dismissal of its co-founder, taking a $350 million write off related to the embezzlement, filing for bankruptcy, then in the following year an indictment of its co-founder, a new president, while 1994 brought in a mistrial and last year Robert Haft bought the company, the co-founder was convicted of 109 felonies, Haft convinced the bankruptcy court that he can take the beleaguered chain public and the co-founder was sentenced to 20 years. Immediate changes expected to occur if the merger does come to fruition include the consolidation of stores in overlapping markets. Phar-Mor operates 102 deep discount drug stores in 18 states, with the stronghold being OH, PA and VA, while Shopko operates 130 discount stores throughout CA, CO, ID, IL, IA, MI, MN, MT, NE, NV, SD, WI, OR, WA and UT. Areas that our research show could be remotely affected by a consolidation include WI, CO, IL and IA. The leaders of both chains spoke of visions that Phar-Mor's strength in selling promotional greeting cards and food would benefit Shopko, while Phar-Mor would benefit from Shopko's expertise in systems and computers, as well as Phar-Mor would be able to "add in-store optical sales, basic clothing assortments, jewelry and home products." Phar-Mor's June 1996 quarter ending showed a $2.7 million loss and the company's expansion plans were on hold, yet for the same period Shopko showed $5.8 million in net earnings. The typical footprint of a Phar-Mor store is 40,000 sq.ft., while Shopko uses about 90,000 sq.ft. and both chains occupy strip centers and freestanding facilities. Economies of scale are projected to reflect a $15 million to $20 million annual savings to be phased in during the first two years upon completion of the merger. The other significant change will be Haft taking the helm of Cabot Noble, Inc., the newly created holding company of the two separate operating subsidiaries. The major players in this $580 million to $100 million transaction are Shopko, who will get a stock swap of 2.4 shares in the new holding company subject to adjusting the value if the consideration falls outside the range of $17.25 to $18 per share, and based on Shopko's average over a 30 day period, it could see a 14% to 19% premium for its shares. Phar-Mor will swap stock at a one to one ratio for Cabot Noble shares. Supervalu, currently holding a 46% stake in Shopko, would walk away with $208 million in cash and $40.4 million in short term financing with a maturity date of January, 1997.

Revco's (216-425-9811) hostile take over bid of Big B (205-424-3421) would most likely affect the GA and TN markets, two states in which both chains are actively looking for expansion opportunities. In addition, Big B operates approximately 150 stores in TN and GA, while Revco operates about 300 units in TN and GA. Big B has captured a market share of about 30% in metro Atlanta, GA. The tender offer is due to expire at the time this article is going to press, but Revco, with its status of owning 5.4% of B Big's shares, could sway a vote requiring only 10% of the shareholders to call a meeting that could result in 50% of the shareholders voting to replace Big B's board. Revco operates 2,184 drug stores in the 8,000 sq.ft. to 10,000 sq.ft. range throughout the Midwest, Eastern and Southern markets, where as B Big operates 397 stores of 3,500 sq.ft. to 10,000 sq.ft. in AL, FL, GA, TN and MS. Big B's net earnings for its last fiscal year dropped by $12.5 million compared to the prior year, which adds fuel to the fire that Big B shareholders will jump at a 50% increase in the value of their stock in the event Revco's $15 per share offer out bids other chains.

Ocean Reef Management (305-931-4077) an investment firm that recently took over L. Luria & Son, made an unsolicited offer of $69.7 million, which at press time was going to be revised, to buy Best Products (804-261-2396). Best has seen hard times with a 1988 leverage buyout, emerging from bankruptcy in 1994 and last year the chain reported a $95.7 million loss. Analysts noted that vendors for Best Products are becoming impatient, especially with the holiday buying season fast approaching, and the acquisition of Best could deliver a return based solely on its real estate holdings. Ocean Reef has proven to be bold, but has yet to show evidence that it has the substance to turnaround Luria's, which lost more than $20 million in the last two years and is now on its second chief executive officer in just 10 months.

Fast Food Tenants Hungry for Sites Across The Country

International Dairy Queen, Inc. trades as Dairy Queen at 5,600 locations nationwide. The fast food operation serves hamburgers, fries and ice cream, while using spaces of 2,000 sq.ft. to 2,500 sq.ft. in freestanding facilities, end cap positions and strip centers. Expansion opportunities are sought nationwide.

For more information, contact Jim Gepner, International Dairy Queen, Inc., PO Box 39286, Minneapolis, MN 55439-0286; 612-830-0200, Fax 830-0450.

KFC operates 5,100 fast food restaurants, specializing in chicken dishes, at locations nationwide. The company uses a land area of 35,000 sq.ft. for its freestanding facilities and pad sites in strip centers and malls. Growth will take place nationwide.

For more information, contact David Gibbs, KFC, PO Box 34550, Louisville, KY 40232; 502-454-2167, Fax 456-8848.

Shoney's, Inc. operates 1,800 units nationwide and in Canada. Utilizing 6,200 sq.ft. freestanding facilities, the company is scouting the nation for expansion opportunities.

For more information, contact Charles Vaughn, Shoney's, Inc., 1727 Elm Hill Pike, Nashville, TN 37210; 800-626-5630, Fax 615-231-2859.

Foodmaker, Inc. trades as Jack In The Box at 1,200 locations throughout AZ, CA, CO, HI, ID, IL, LA, MO, NM, TX, WA and NV. The company uses 2,700 sq.ft. freestanding facilities. Opportunities for growth are sought in the Midwestern, Western and Southern regions.

For more information, contact Bill Motts, Foodmaker, Inc., 9330 Balboa, San Diego, CA 92123; 619-571-2121, Fax 571-1543.

Sbarro, Inc. trades as Sbarro "The Italian Eatery" at 729 locations nationwide. Spaces of 1,000 sq.ft. are utilized in malls, power centers and freestanding facilities. Expansion will take place nationwide.

For more information, contact Len Skrosky, Sbarro, Inc., 763 Larkfield Road, Commack, NY 11725; 516-864-0200, Fax 462-9058.

Carl Karcher Enterprises, Inc. trades as Carl's Jr. at 667 locations throughout CA, AZ, NV, OR and Mexico. The fast food concept uses spaces of 2,500 sq.ft. to 3,500 sq.ft. in strip centers and freestanding facilities. Expansion opportunities are sought in the Western region.

For more information, contact Carl Arena, Carl Karcher Enterprises, Inc., 1200 N. Harbor Boulevard, Anaheim, CA 92803; 714-774-5796, Fax 778-7159.

Taco John's International, Inc. trades as Taco John's at 420 locations nationwide. Specializing in a Mexican menu, the fast food operation occupies spaces of 700 sq.ft. to 2,500 sq.ft. in malls, freestanding facilities, downtown storefronts and strip centers. Plans call for eight to ten openings in the coming 18 months. Expansion opportunities are sought in the central states.

For more information, contact Mike Gilliam, Taco John's International, Inc., 808 West 20th Street, Cheyenne, WY 82001; 800-854-0819, Fax 307-638-0603.

Panda Management Company trades as Panda Express at over 200 locations nationwide. Serving Chinese food, the fast food operation uses spaces of 1,800 sq.ft. to 2,600 sq.ft. in malls, freestanding facilities, downtown storefronts, power and strip centers. Expansion will take place nationwide.

For more information, contact Robert Grosse, Panda Management Company, 899 El Centro Street, South Pasadena, CA 91030; 213-257-3698, Fax 213-403-8688.

Magic Wok International trades as Mr. Wu's, specializing in Chinese food; Cajun Cafe & Grill serving Cajun food and as Little Tokyo offering Japanese food at 120 locations throughout NY, NJ, OH, CA, MI, NC, IN, FL, GA, MA, CT and PA. The fast food concepts use spaces of 500 sq.ft. to 650 sq.ft. in malls, strip and outlet centers. Projections call for 20 openings nationally during the coming 18 months.

For more information, contact David Wu, Magic Wok International, 14497 Dale Mabry, Ste. 201, Tampa, FL 33618; 813-265-3955, Fax 265-3428.

Snapps Drive-Thru, Inc. trades as Rally's Restaurants at 81 locations in FL, OH and PA. The fast food operation utilizes 1,000 sq.ft. freestanding facilities. Growth plans call for ten openings in the next 18 months, with expansion continuing in the existing markets.

For more information, contact Jeff Mattingly, Snapps Drive-Thru, Inc., 37 East Hudson Street, Columbus, OH 43202; 614-447-9100, Fax 447-9119.

Figaro's Italian Pizza, Inc. trades as Figaro's Italian Kitchen at 59 locations in CA, ID, MN, ND, OR and WA. The company uses spaces of 1,200 sq.ft. to 1,600 sq.ft. in freestanding facilities and strip centers. Preferred locations are anchored by the likes of Wal*Mart or a supermarket and offer a population count of 20,000 in five miles. The company is franchising and plans to open seven units during the coming 18 months. Growth will take place in the western states. A five-year lease is the norm.

For more information, contact Max Bennett, Figaro's Italian Pizza, Inc., 1500 Liberty Street S.E., Ste. 160, Salem, OR 97302; 503-371-9318, Fax 363-5364.

Flamer Charburgers, Inc. trades as Flamer's Charburgers at 58 locations nationwide. The fast food operation uses 600 sq.ft. to 700 sq.ft. in food courts of malls, and 1,500 sq.ft. to 2,000 sq.ft. in downtown storefronts, power and specialty centers. Expansion opportunities are sought nationwide.

For more information, contact Farzin Darabi, Flamer Charburgers, Inc., 500 S. Third Street, Jacksonville Beach, FL 32250; 904-241-3737, Fax 241-1301.

Thundercloud, Inc. trades as Thundercloud at 38 locations in TX. The submarine sandwich shops use spaces of 1,500 sq.ft. in outlet centers and freestanding facilities. Plans call for six openings during the coming 18 months. Expansion opportunities are sought in TX and NV.

For more information contact, John Meddaugh, Thundercloud, Inc., 1205 San Antonio Street, Austin, TX 78701; 512-474-2363, Fax 474-2989.

Locklier Co., Inc. trades as Tippy's Taco House at 22 locations in PA, NC, SC, FL, MD, VA, TX and Washington, D.C. Serving Tex-Mex fast food, the company uses spaces of 1,500 sq.ft. to 3,000 sq.ft. in malls, pad sites and freestanding facilities. Expansion opportunities will be considered nationwide.

For more information, contact W.L. Locklier, Locklier Co., Inc., PO Box 2253, McKinney, TX 75070; 214-547-0888.

Lead Sheet

Raco Car Wash Systems, Inc.

dba Spot-Not Car Washes

Forrest Uppendahl

2011 West Fourth Street

Joplin, MO 64801

417-781-2140, Fax 781-3906

Automotive Care

The 27-unit chain operates car washes in AZ, IL, IN, MO and WI. A land area of 44,000 sq.ft. is required by the freestanding user. Sites in close proximity to the likes of Wal*Mart or a supermarket are preferred. Demographics requirements include a population of 30,000 earning $40,000 as the average income in a two-mile radius. Expansion plans call for three openings during the coming 18 months. Expansion will take place in the existing markets and the Southeastern region. The 11-year old company is franchising.

The Book Market, Foozles,

National Book Warehouse

John Raines, David Hinkle

5915 Casey Drive

Knoxville, TN 37909

423-558-8187, Fax 558-6240

Book Stores

Book Market operates 50 locations nationwide. The stores, which operates on a temporary basis, occupy spaces of 7,000 sq.ft. to 30,000 sq.ft. in freestanding facilities, regional malls and strip centers. Plans call for 100 openings in the coming 18 months. Expansion will take place nationwide. Leases running two to three months, with month-to-month options are typical. Foozles operates six locations in CA, MA, PA, TN, TX and WA. The bookstores occupy spaces of 10,000 sq.ft. to 25,000 sq.ft. in freestanding facilities and strip centers. Preferred anchors include category killer tenants. Plans call for 12 openings in the coming 18 months. Expansion will take place nationwide. Leases running 10 years, with three options running five years each, are typical. Book Warehouse operates 91 locations nationwide. The stores occupy spaces of 3,000 sq.ft. to 5,000 sq.ft. in outlet centers. Plans call for 15 openings in the coming 18 months. Expansion will take place nationwide. Leases running five years, with options, are typical.

CVS

dba CVS Pharmacy

Dennis McMullen

One CVS Drive

Woonsocket, RI 02895

401-765-1500, Fax 769-6593

Drug Store

The 1,400+-unit chain operates locations in CT, ME, MA, MD, NH, NJ, NY, PA, RI, VA, VT and Washington, D.C. The drug stores occupy spaces of 8,000 sq.ft. to 11,000 sq.ft. in freestanding facilities. Plans call for 115 openings in the coming 18 months. Expansion will take place in the existing markets.

Wehrenberg Theaters

Bill Pauley

1215 Des Peres Road

St. Louis, MO 63131

314-822-4520, Fax 882-8032

Entertainment

The theater chain operates 30 locations in MO, IL and AZ. Spaces of 16,000 sq.ft. to 90,000 sq.ft. are used in power centers, malls and freestanding facilities. The company prefers a structure with the demising walls in place, in addition to other tenant improvements. Expansion plans call for six to eight openings in the next 18 months. Growth will take place in the Midwest and Southeast regions.

U.S. Factory Outlets, Inc.

Frederic Raiff

Seven Penn Plaza

New York, NY 10001

212-563-3650, Fax 967-9872

Factory Outlet

The 24-unit chain operates nationwide. Offering closeouts of apparel and non-apparel items, the stores use spaces of 30,000 sq.ft. to 52,000 sq.ft. in power, strip and outlet centers, Expansion plans call for 10 openings in the coming 18 months, with growth opportunities sought nationwide, exclusive of OR, WA, AK and HI. Catering to a middle to lower, middle income clientele, the company's demographic requirements include a population of 70,000 earning $35,000 or less as the average income in a five-mile radius. A 10-year lease is the norm.

LA-Z-Boy Chair Co., Inc.

dba La-Z-Boy

Tom Sprenger

1284 N. Telegraph

Monroe, MI 48162

313-242-1444 Ext. 2332, Fax 241-4422

Furniture

The 180-unit chains sells furniture for the home at locations nationwide. Spaces of 13,500 sq.ft. are used and the company prefers freestanding sites, but will consider strip center locations. Projections call for 60 openings in the next 18 months, with growth taking place nationwide.

Thorn Americas Inc.

dba Remco, U Can Rent, Rent A Center

Don Bain

8200 E. Thorn Drive

Wichita, KS 67226

316-636-7368, Fax 631-5007

Furniture

Offering furniture, appliance, electronics and jewelry on a rent-to-own basis, the 1,400-unit chain operates stores nationwide. Spaces of 3,000 sq.ft. to 3,500 sq.ft. are utilized in freestanding facilities, power and strip centers. Demographic requirements include a minimum of 35% of the housing in a three-mile ring to be renter occupied. Plans call for 100 openings in the next 18 months. Growth will continue nationally and the company will consider rural markets.

Richard Rosen, Inc.

dba Bonanza City, Broadway Fashion

Popular Dragon, Texas Store

Richard Rosen

210 South Mesa

El Paso, TX 79901

915-533-7923, Fax 533-5160

General Merchandise

The company operates 11 stores in TX and NM. Selling shoes, fabrics, hardware and surplus goods, the stores use spaces of 20,000 sq.ft. in freestanding facilities, downtown storefronts, power and strip centers. Expansion will focus on the existing markets and the company is interested in the Colorado Springs, CO market.

Physicians Weight Loss Centers of America

dba Physicians Weight Loss Centers

Gregg Vosler

395 Springside Drive

Akron, OH 44333

330-666-7952, Fax 666-2197

Health & Fitness

The 80-unit chain of medically supervised weight loss centers operates nationwide. Spaces of 1,200 sq.ft. are used in strip centers and professional buildings. The company is franchising and plans to open 25 to 30 units during the coming 18 months, with growth taking place nationwide.

United Equities

dba Garden Ridge

Buster Freedman

6909 Ashcroft, Suite 200

Houston, TX 77081

713-772-6262, Fax 981-4035

Home Decor

The 16-unit chain operates locations in FL, KY, MO, NC, OK, TN and TX. The stores, selling crafts, housewares, pottery, party supplies, floral arrangements, pictures and seasonal items, occupy spaces of 140,000 sq.ft. in freestanding facilities and power centers. Plans call for 12 openings in the coming 18 months. Expansion will take place in Southeastern region. Leases running 15 to 20 years are typical.

E.C. Barton & Co.

dba Bartons Union Salvage

Niel Crowson

2929 Browns Lane

Jonesboro, AR 72403

501-932-6673, Fax 972-1304

Home Improvement

The 43-unit chain of building supply stores operates in AR, MO, LA, MS, AL and TX. Spaces of 4,000 sq.ft. to 30,000 sq.ft. are used in freestanding facilities. Expansion plans call for eight openings in the next 18 months. Growth will be focused on the existing areas of operation.

WW Wholesale Wallpaper, Inc.

dba Wholesale Wallpaper

Eusebia Fink

c/o Baita Property Services

1777 Northeast Expressway

Atlanta, GA 30329

404-636-6778, Fax 321-0780

Home Improvement

The four-unit chain operates stores in AL and TN. Spaces of 8,000 sq.ft. to 12,000 sq.ft., with 10,000 sq.ft. being ideal, are sought in power centers and freestanding facilities. The company prefers sites in close proximity to the likes of Home Depot, furniture stores and soft good tenants. Expansion plans call for eight to ten openings, with opportunities sought in AL, FL, GA, NC, SC and TN. Areas with a population of at least 500,000 in the trade market are of interest.

Speedy Sign-A-Rama

dba Sign-A-Rama

J.J. Prendamano

1601 Belvedere Road, Ste. 402E

West Palm Beach, FL 33406

407-640-5570, Fax 640-5580

Service

The 300-unit chain manufactures signs at locations nationwide. Spaces of 1,000 sq.ft. to 1,200 sq.ft. are used in strip centers. Plans call for 145 openings in the next 18 months, with growth taking place nationwide. Demographic requirements include having 5,000 businesses in a four-mile area. The company is franchising and a five-year lease is typical.

The Gap

dba Gap Shoes

Steve Kaplan

900 Cherry Avenue

San Bruno, CA 94066

415-952-4400, Fax 876-1865

Shoes

The seven-unit chain operates stores in CA, IL, NY, NJ, TX and CT. Carrying the Gap private line of shoes for men and women, the stores occupy spaces of 3,000 sq.ft. in malls and freestanding facilities. Expansion opportunities will be considered nationwide.

CT Farm & Country

Mary Shoemaker

3915 Delaware Avenue

Des Moines, IA 50313

515-266-3101, Fax 266-3383

Specialty

The 112-unit chain sells agricultural supplies and equipment at locations in VT, MA, NY, PA, NJ, DE, MD, VA, TN, KY, IN, OH, WI, MO, IA and MN. Spaces of 20,000 sq.ft. are used in strip centers and freestanding facilities. Expansion opportunities are sought in the company's existing markets.

Premium Tobacco Stores

dba Cigarettes Cheaper!

Jeffrey C. Ording

c/o Trammel Crow Co.

Two Pierce Place, Ste. 700

Itasca, IL 60143-3143

630-285-2989, Fax 250-4008

Specialty

Featuring a full range of tobacco products, the chain operates over 200 stores in CA, OR, IL, IN, AZ and NM. Spaces of 800 sq.ft. to 1,200 sq.ft. are used in strip centers anchored by a supermarket. Plans call for 200 openings, with expansion opportunities sought in the company's existing markets.

Hollywood Video

William Zebe

25600 Parkway Center Drive

Wilsonville, OR 97070

503-677-1600, Fax 570-1681

Video

Offering movies and video games for rent, new and used video games for sale, as well as accessories and confectionery items, the 400-unit chain operates locations nationwide. Spaces of 5,000 sq.ft. to 10,000 sq.ft. are used in downtown storefronts, strip and power centers. Projections call for adding 300 units to the chain during the coming 18 months, with growth taking place nationwide.

Sporting Goods Tenants Expanding

Foot Action USA sells athletic footwear at 446 locations nationwide. The stores use approximately 1,000 sq.ft. in malls and strip centers. Expansion opportunities are sought nationwide.

For more information, contact Chuck Albert, Foot Action USA, 7880 Bent Branch Drive, Ste. 100, Irving, TX 75063; 214-501-5000, Fax 501-5004.

The Sports Authority operates 149 stores nationwide. The full-line sporting goods stores occupy spaces of 43,000 sq.ft. in power centers and freestanding facilities. Projections call for 30 to 40 openings during the coming 18 months. Growth will take place nationwide.

For more information, contact Mark Walker, The Sports Authority, 3383 N. State Road, Ste. 7, Ft. Lauderdale, FL 33319; 954-735-1701, Fax 730-4288.

Track 'n' Trail operates 90 stores throughout MA, NY, PA, OH, MN, IL, CA, CO, OR, WA, MD, IN, WI and VA. Specializing in outdoor, hiking and casual footwear, the stores use spaces of 1,750 sq.ft. in malls. The company anticipates opening at least 30 stores in the coming 18 months and growth opportunities are sought nationwide.

For more information, contact Dave Morgan, Track 'N Trail 4961 A Windplay Drive, Eldorado Hills, CA 95630; 916-933-4525, Ext. 235, Fax 933-4521.

Gart Brothers Sporting Goods Co. operates 65 stores in CO, ID, UT, WY, MT and NM. The full-line sporting goods stores occupy spaces of 45,000 sq.ft. in strip centers and freestanding facilities. The company plans to open 10 units in the coming 18 months.

For more information, contact Tom Nelson, Gart Brothers Sporting Goods, co., 1000 Broadway, Denver, CO 80203; 303-861-1122, Fax 830-9282.

Swim-N-Sport Shops, Inc. operates 14 stores in FL and LA. Specializing in swim and active wear for women and juniors, the stores occupy spaces of 1,500 sq.ft. to 2,500 sq.ft. in malls, specialty and outlet centers with upscale co-tenants. Plans call for six openings in the coming 18 months and a total of 20 openings during the next five years, with growth taking place nationwide. The company typically signs a 10-year lease.

For more information, contact Mark Sidel, Swim-N-Sport Shops, Inc., 2396 N.W. 96th Avenue, Miami, FL 33172; 305-593-5071, Fax 593-2669.

Exclusives: Leasing & Management Assignments

Divaris Real Estate, Inc. (757-497-2113) has been retained to lease and manage three shopping centers in the metro Richmond and Hampton Roads, VA markets. The company will manage Shore Drive Plaza, a 67,000 sq.ft. convenience center in Norfolk, VA and owned by Crown Life of Canada; Dunlop Village Shopping Center, a 72,275 sq.ft. project in Colonial Heights owned by Nationwide Life Insurance Company and Employers Life Insurance Company of Wausau, in addition to Republic Plaza, a 28,911 sq.ft. center in Richmond, will also be added to the Divaris management portfolio.

Childs Realty Group (847-870-8585) has been retained by the Simon Group to lease Fox River Plaza in Elgin, IL. The 315,577 sq.ft. project is anchored by Builder's Square, Service Merchandise and Venture. The project will undergo remerchandising and spaces of 1,400 sq.ft. to 50,000 sq.ft. will be made available.

Island Associates Real Estate, Inc. (516-587-5050) has been named the exclusive leasing and managing agent for Central Islip Marketplace, an 85,000 sq.ft. center in Islip, NY anchored by Woolworths, CVS Drugs, Rainbow Shops and C-Town Supermarket.

Popular Priced Chains

AIJJ Enterprises trades as Foxmoor, Ups -N-Down, Caren Charles and Rainbow at over 600 locations nationwide. The apparel stores occupy spaces of 1,800 sq.ft. to 10,000 sq.ft. in strip centers, malls and downtown storefronts. Plans call for 50 openings during the coming 18 months. Expansion will take place nationwide.

For more information, contact Andre Nikol, AIJJ Enterprises, 1000 Pennsylvania Avenue, Brooklyn, NY 11207; 718-485-3000, Fax 485-3807.

G & G Shops, Inc. trades a G & G and Rave at 450 locations nationwide. Specializing in apparel for women and juniors, the stores use spaces of 2,000 sq.ft. to 2,500 sq.ft. in regional malls. Plans call for five openings during the coming 18 months. Growth opportunities are sought nationwide.

For more information, contact Richard Rubino, G & G Shops, Inc. 520 Eighth Avenue, New York, NY 10018; 212-279-4961, Fax 714-1680.

Simply Fashion Stores, Inc. trades as Simply Fashions at 190 locations nationwide. The ladies apparel chain uses spaces of 2,800 sq.ft. in strip centers, freestanding facilities and downtown storefronts. Expansion plans call for 40 openings during the coming 18 months, with growth taking place nationwide.

For more information, contact Rick Rogers, Simply Fashion Stores, Inc., PO Box 188 Birmingham, AL 35201-0188; 205-951-1700 Ext. 1732, Fax 951-1510.

Lease Signings

CBL & Associates Properties, Inc. (423-855-0001) leased 14,000 sq.ft. to J.B. White For The Home, 3,480 sq.ft. to The American Eagle Outfitters, 2,812 sq.ft. to Style Setter, 1,650 sq.ft. to Rolling Pin, 1,495 sq.ft. to Prime Sports Fan Fair, 1,238 sq.ft. to Treasure Box, and kiosk locations to Carolina Cellular Sales and Golden China International at Westgate Mall in Spartanburg, SC.

The Hausman Companies (216-464-5900) leased space to Stage Stores, Inc. at Logansport Mall in Logansport, IN.

Trammel Crow Denver, Inc. (303-220-0900) leased space to Mann Theaters at Interplaza West in Golden, CO.

The Schultz Brokerage Services Group (908-855-0001) leased space to Edwards Super Food Stores in Raritan Township, NJ.

CB Commercial Real Estate Group (305-374-1000) leased 2,000 sq.ft. to Radio Shack at Country Walk Plaza in Miami, FL and 4,750 sq.ft. to Lady of America at Sunset Village Shopping Center in Miami, FL.

Aries Deitch & Endelson (914-949-2800) leased 3,000 sq.ft. to Payless ShoeSource at Bradlees Shopping Center in Yonkers, NY and 2,000 sq.ft. to Dunkin Donuts at Goldens Bridge Shopping Center in Goldens Bridge, NY.

Metro Commercial Real Estate, Inc. (609-866-1900) leased 31,000 sq.ft. to Barnes & Noble in the Rittenhouse Square area of Philadelphia, PA.

Mid-America Real Estate Corp. (630-954-7300) leased 11,346 sq.ft. to Super Trak Auto in Chicago, IL.

CB Commercial Real Estate (619-546-4607) leased 4,800 sq.ft. to Carpet Country & Blinds in Escondido, CA; 805 sq.ft. to Juice Connection and 2,585 sq.ft. to Aspen Mills Bakery at Encinitas Ranch Town Center in Encinitas, CA; 11,135 sq.ft. to Party City at Loma Square Shopping Center in San Diego, CA; 892 sq.ft. to City Time at The Solana Beach Town Center in Solana Beach, CA; 1,752 sq.ft. to Amanda Grace, Inc. at Flower Hill Mall in Del Mar, CA; 1,300 sq.ft. to Juice Break in San Diego, CA; 5,568 sq.ft. to Boll Weevil Systems, Inc. at Sunroad Galleria in La Jolla, CA; 1,500 sq.ft. to Diedrich's Coffee House in San Diego, CA; 1,044 sq.ft. to Detailz in San Diego, CA; 2,460 sq.ft. to Maharaja Indian Cuisine at Uptown District Shopping Center in San Diego, CA; 29,222 sq.ft. to Price Breakers Indoor Bazaar at a former Vons supermarket in San Ysidro and 30,381 sq.ft. to Horizon Christian Fellowship for a church at a former Silo space in La Mesa, CA.

Leider Commercial Real Estate (805-957-4777) leased 145,634 sq.ft. to Costco Wholesale Corporation and 130,000 sq.ft. to Home Depot at Camino Real Marketplace in Goleta, CA.

Space Place

California

Santa Fe Springs- A freestanding 114,500 sq.ft. building is available for lease at Santa Fe Springs Plaza.

For details, contact MaryAnn Savarese of RD Management at (212-265-6600).

Colorado

Lakewood- A freestanding 96,800 sq.ft. building is available for lease.

For details, contact MaryAnn Savarese of RD Management at (212-265-6600).

Connecticut

Orange- Edwards Plaza is anchored by Edwards Supermarket and T.J. Maxx. The 162,000 sq.ft. project has space available for lease.

For details, contact MaryAnn Savarese of RD Management at (212-265-6600).

Georgia

Atlanta- Akers Mill Square is anchored by Sports Authority, Toys 'R Us, OfficeMax and Levitz Furniture. The 397,776 sq.ft. project has space available for lease.

For details, contact Mall Properties at (212-935-1330).

Illinois

Cahokia- An 11,000 sq.ft. space is available for lease. In Calumet City- A 15,000 sq.ft. space is available for lease. In Tinley Park- A 10,625 sq.ft. space is available for lease.

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

North Riverside- A former Kmart store as well as an additional 25,000 sq.ft. are available for lease at a project anchored by Kohls and Burlington Coat Factory. Total GLA is 198,080 sq.ft. In Tinley Park- A freestanding former Kmart is available for lease.

For details, contact Klaff Realty, LP at (312-360-1234), Fax (360-0606).

Indiana

Seymour- West Towne Plaza is anchored by Rite Aid. The 60,000 sq.ft. project has an anchor position of 22,021 sq.ft. available for lease.

For details, contact MaryAnn Savarese of RD Management at (212-265-6600).

Kentucky

Ashland- Greenup Shopping Center is anchored by Watson's and Kroger. The 268,000 sq.ft. project has an anchor position available for lease.

For details, contact MaryAnn Savarese of RD Management at (212-265-6600).

Covington- A 15,625 sq.ft. space is available for lease. In Owensboro- A 10,069 sq.ft. space is available for lease.

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

Maine

Caribou- A 53,285 sq.ft. space is available for lease. In Houlton- A 48,460 sq.ft. space is available for lease. In Presque Isle- Spaces of 6,851 sq.ft., 6,300 sq.ft., 5,175 sq.ft., 7,375 sq.ft. and 60,692 sq.ft. are available for lease. In Skowhegan- Spaces of 9,460 sq.ft. and 49,151 sq.ft. are available for lease. In South Portland- Spaces of 9,000 sq.ft. and 10,622 sq.ft. are available for lease.

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

Michigan

Fenton- A 9,850 sq.ft. freestanding building is available for lease in the downtown area.

For details, contact Eric Olson of Cody Olson, Inc. at (810-745-1900), Fax (745-1909).

Minnesota

Columbia Heights- Central Plaza is anchored by Only Deals, Frank's and Snyder Drug. The 125,680 sq.ft. project has spaces of 1,200 sq.ft. and 4,680 sq.ft. available for lease. In Crystal- Crystal Shopping Center is anchored by Target, Michael's, Only Deals, Marshalls, Minnesota Fabrics, Lencrafters, Paper Warehouse, County Seat and DEB. The 350,000 sq.ft. project has spaces of 851 sq.ft., 2,000 sq.ft., 2,760 sq.ft. 2,800 sq.ft., 2,880 sq.ft., 3,200 sq.ft., 3,600 sq.ft., 3,680 sq.ft., 4,800 sq.ft., 9,035 sq.ft., 10,000 sq.ft. and 12,040 sq.ft. available for lease. Also in Crystal- Crystal Town Center is anchored by Video Update. The 40,000 sq.ft., which will be developed next year, has spaces available for lease. In Lexington- Northway Shopping Center is anchored by Festival Foods, Ben Franklin Crafts, Big Wheel/Rossi Auto Parts and Premiere Video and Photo. Spaces of 6,800 sq.ft. and 8,792 sq.ft. are available for lease. In Mendota Heights- Mendota Plaza is anchored by Old America Store and Snyder Drug. The 54,983 sq.ft. project has spaces of 3,850 sq.ft. and 13,950 sq.ft. available for lease. In Mounds View- Moundsview Square is anchored by Snyder Drug and Minnesota Fabrics. The 91,175 sq.ft. project has spaces of 900 sq.ft., 2,000 sq.ft., 2,084 sq.ft., 5,100 sq.ft., 14,400 sq.ft. and a 4,000 sq.ft. pad site available for lease. In St. Paul- Sibley Plaza is anchored by Champps Americana Sports Bar & Grill and Jubliee Foods. The 95,570 sq.ft. project has spaces of 1,020 sq.ft., 1,400 sq.ft., 3,200 sq.ft., 4,800 sq.ft., 8,105 sq.ft. and 9,100 sq.ft. available for lease. In South St. Paul- Southview Shopping Center is anchored by Knowlan's Supermarket and Snyder Drug. The 55,660 sq.ft. project has spaces of 1,000 sq.ft., 3,000 sq.ft., 3,120 sq.ft., 3,835 sq.ft. and 5,265 sq.ft. available for lease. In West St. Paul- Doddway Shopping Center is anchored by RC Dick's Foods and Valu-Rite Pharmacy. The 38,143 sq.ft. project has a 1,400 sq.ft. space available for lease.

For details, contact Richard Jahnke of Paster Enterprises at (612-646-7901), Fax (646-1389).

Montana

Glendive- West Plaza is anchored by Kmart. The 96,921 sq.ft. project has space available for lease.

For details, contact Mall Properties at (212-935-1330).

New Hampshire

Claremont- Claremont Plaza Shopping Center is anchored by J.C. Penney and Aubuchon Hardware. The 60,000 sq.ft. project has a 4,000 sq.ft. space available for lease. Demographics include a 10-mile population of 40,000 earning $36,000 as the average household income.

For details, contact David Rosen of Rosen Associates Management Corp. at (516-822-5350), Fax (433-3821).

New Jersey

Newark- Ferry Plaza is anchored by Pathmark, Blockbuster Video and Blimpies. The 100,000 sq.ft. project has spaces of 797 sq.ft., 860 sq.ft., 2,800 sq.ft. and 14,600 sq.ft., some of which can be divided, available for lease. Demographics include a five-mile population of 733,193 earning $39,431 as the average household income.

For details, contact Alan Goldstein or Donald Goldstein of The Goldstein Group at (201-703-9700), Fax (703-9678).

New York

Buffalo- Spaces of 1,645 sq.ft., 5,537 sq.ft., 6,384 sq.ft., 6,400 sq.ft., 6,633 sq.ft., 6,720 sq.ft. and 9,750 sq.ft. are available for lease. In Cheektowaga- An 11,817 sq.ft. space is available for lease. In Gates- A 78,800 sq.ft. space is available for lease. In Greece- An 80,087 sq.ft. space is available for lease. In Henrietta- A 69,000 sq.ft. space is available for lease. In Niagara Falls- Spaces of 6,570 sq.ft., 6,900 sq.ft., and 78,400 sq.ft. are available for lease.

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

Guilderland- The 20 Mall is anchored by Price Chopper, Fay's Drugs and Radio Shack. The 150,000 sq.ft. project has spaces of 1,000 sq.ft., 1,104 sq.ft., 2,000 sq.ft., 2,500 sq.ft. and 9,918 sq.ft. available for lease. Demographics include a five-mile population of 83,570 earning $44,584 as the average family income.

For details, contact The 20 Mall at (518-869-5030).

Ohio

Cincinnati- Cherry Grove Plaza is anchored by Kroger and T.J. Maxx. The 186,055 sq.ft. project has spaces from 1,400 sq.ft. to 12,000 sq.ft. available for lease.

For details, contact Midland Group at (513-891-2323).

Pennsylvania

Bethlehem- Kmart Shopping Center is anchored by Kmart, Thrift Drug and Piece Goods. The 166,609 sq.ft. project has space available for lease.

For details, contact MaryAnn Savarese of RD Management at (212-265-6600).

Rhode Island

Providence- Shaw's Plaza is anchored by Super Shaw's Grocery, CVS, Fashion Bug and Chili's. The 121,700 sq.ft. project has spaces of 2,000 sq.ft., 2,500 sq.ft. and 4,000 sq.ft. available for lease. Demographics include a five-mile population of 380,762 earning $33,400 as the average family income.

For details, contact Picerne Properties at (401-732-3700).

Tennessee

Athens- A 10,069 sq.ft. space is available for lease. In Knoxville- A 10,500 sq.ft. space is available for lease.

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

Clarksville- Austin Square is anchored by Lowe's Home Center and Kmart. The project has spaces available for lease in its 100,000 sq.ft. expansion area.

For details, contact MaryAnn Savarese of RD Management at (212-265-6600).

Texas

Del Rio- A 20,420 sq.ft. space is available for lease. In Laredo- A 25,000 sq.ft. space is available for lease.

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

Virginia

Hampton- Coliseum Mall is anchored by Montgomery Ward, Proffitt's, J.C. Penney and Hecht's. The 1.112 million sq.ft. project has space available for lease.

For more information, contact Mall Properties at (212-935-1330).

Vermont

Essex- Essex Shopping Center is anchored by Grand Union Supermarket, Aubuchon Hardware and City Drug. The project has up to 12,000 sq.ft. available for lease.

For details, contact Pomerleau Real Estate at (802-863-8210).