Issue Number 4 for the week of February 7, 1997
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The Dealmakers Issue Number 4 for the week of February 7, 1997.

My Way by Ted Kraus

A friend of mine who's the exclusive broker for a "big box" retailer told me the following story: Last May at the ICSC convention in Vegas, he dropped in on one of the industry's largest REITs and started negotiations for his client to take over a closed 85,000 sq.ft. Kmart that's been vacant and non-rent paying for over five years.

The REIT gave him a hard time about having to deal with a broker; they should have the right to deal direct (God and them have rights, we commoners don't). My friend had no objection to that as long as they paid him his commission, but since they didn't appreciate his humor, they spent the next six months negotiating a "fair" number. He wanted $1.50 a square foot, they were offering $1. Finally, out of the goodness of their heart, they agreed to his commission but wanted to pay it over five years, which he was willing to do if the commission was based on $3 psf. They finally came to an agreement last month, so he sent his commission agreement out for signature.

He was then informed that 1) they will not sign a commission agreement until the tenant agrees to all their terms and 2) they will not quote a rent for his client until they get the client's financial statement and then their "committee" will determine rent.

Now I've dealt with stupid companies, but this one is King. First, his agreement clearly states there will be no commission due unless a lease is signed, the tenant takes possession, opens for business and pays the first month's rent. Why not sign the agreement? It's only due if the deal is done; this is so simple even a REIT could understand.

All along the broker has said the client would take the building "as is," so the REIT will not have to lay out money except for possibly roof and structure. So while they are entitled to a financial statement, why hold up the process waiting for it? The retailer is privately owned and does not provide their statement until they feel there's a fighting chance of making the deal and they are not at that point yet. It's now been nine months and they still haven't even gotten to "first base." Since the building has been vacant for five years and there's no income being generated, what's their downside? Even if the rent was only $3 psf (the broker has no idea what the rent is, so I'm quoting the low end) the rent for the last nine months would be over $190,000 not including CAM, taxes or insurance, that more than pays for the brokerage commission. Stupidity, stupidity, stupidity. That's all I can say.

Now to be fair, this company realizes they are stupid and impossible to deal with, so they pay their leasing people a bonus based on deals presented to the company, not necessarily on deals made. They understand they're unreasonable and don't want to penalize their leasing department (actual they want to keep their leasing people, so this is the only way) for their incompentancy. Why do so many companies work so hard not to make a deal work?

Many REITs will fail within the next few years, (fail means the will either have to "merge" or be acquired) especially the outlet oriented ones since they have less of a clue of what's happening than anyone else. Plus outlet REITs seem to lack "dealmakers" in their company, they just have order takers. When the outlet industry was booming, that was fine; "Here's the store, here's the rent, sign the lease." Now that the industry is weak and the tenant's aren't lining up for space, someone has to prospect and "sell" and most of their agents aren't qualified to do so. In fact, this is true for many of the larger developers in the industry. Too many of the larger development and retail firms have high paid order takers, that's great if you're only leasing fantastic property or have to open 125 stores this year and quality doesn't count. But that's not where the industry is today.

On a different subject, every publication, television and radio station has reported about either the "poor," disappointing or unsuccessful Christmas season we just had. Well, let's look at this with some logic instead of the insanity usually associated with the stock market, which every public retailer unfortunately tries to keep happy. Let's start with the fact that this is the same stock market that dropped the value of Wal*Mart stock six months ago when they reported record earnings, but they weren't as high as the market wanted. The stock market is as stupid as REITs. This past Christmas there was more money spent in retail stores this year than ever. It was a record year when you look at the total picture, but comp store sales were not great for various reason, one being increased conventional competition, the second being the retailers did not carry a large selection of merchandise (thinking they could "force" the consumer to buy their crap), third, catalog sales were up 15% to 25%, and while not fair, since it had such a low base to start with, Internet sales were up 25% to 50%. Business was good, no ifs, ands or buts.

The consumer is still spending, it's just that the conventional retailer isn't retailing any more. Most retailers stink and are only in business because their competitor is no better. It's a little like politics, the country didn't want Clinton, they just had no choice. Well in retailing, more alternate choices are "appearing" and therefore some retailers will start disappearing. Why would someone want to walk into a store, be offered a limited selection, deal with incompetent personnel and then wait in long lines to pay if they can either call from the comfort of their home and have the item delivered the next day or "surf" the Net at 3 am, place an order and have it sent that day.

Shopping centers will be around forever (or 10 years, whichever comes first), but we'll see a lot less of 'em unless they get their act together. How come Home Depot can attract and train competent people but Grossman's couldn't? Why does a McDonald's restaurant run smooth but most Burger Kings seem to hire rejects? It's management, and until that problem is resolved, retailing is in trouble and remember, if retail is in trouble, so are developers, investors and leasing agents.

Last thoughts: I don't mean this as a plug for our upcoming seminar on "Retailing & Real Estate, The Next Five Years," but when I was putting the seminar together, it provided great insight into the changes in our industry over the last decade. In the 80's and early 90's we used to do five or six seminars a year that were relatively well attended and discussed current opportunities and pitfalls facing the industry. Then the real estate world came to an end and we stopped producing the events.

In a moment of boredom last month, we decided to try again. Not wanting to have to reinvent the wheel, I dug out some of the old flyers and handbooks and went to work. Many of the topics are as relevant today as they were in 1990, such as financing and evaluating a center for acquisition, but a lot has also changed. In 1990, we would have never had speakers on bankruptcy or liquidating a chain, today it's a "must." In the 1990 I did an hour long presentation on small shop leasing, this year it's been cut in half and in its place we have speakers on "Big Box" Leasing and Working with Exclusive Brokers, subjects which were not that important 10 years ago but are the "heart" of the industry today. Ten years ago we had speakers on "How to develop," this year the developer is discussing whether or not there's a future in development. If we discussed "prospecting on the Internet in 1990" not one person in the audience would have known what we were talking about. This year, everyone present will have at least heard of it, most will probably have been on-line to some extent.

At the beginning of this decade, one of the most important topics was on doing "turnarounds," this year we're not discussing it, instead we're replacing it with "Alternative Uses" for retail real estate no one wants. Environmental issues and rehabing were also important then and while still relevant, the industry has learned to handle most of these problems. Specialty leasing was hot, today you have to understand leasing, whether it's to an "off-price" outlet or "value tenant." Fax machines and computers were not common 10 years ago, today we can hardly operates without 'em. You can add the Internet to this list in three years. Our industry keeps changing and most of us change with it, but rarely do we sit back and realize the changes taking place or the opportunities they present. What's scary is to think what the next 10 years will be like.

 

Retailers Seeking Northeastern Locations

CVS trades as CVS Pharmacy at more than 1,500 locations in CT, GA, ME, MA, MD, NH, NJ, NY, PA, RI, VA and VT. The drug stores occupy spaces of 8,000 sq.ft. to 11,000 sq.ft. in freestanding facilities, ideally accommodating a drive-thru pharmacy, in addition to downtown store fronts and other convenient locations. Plans call for 115 openings in the coming 18 months. Expansion will take place within the existing markets. Preferred demographics include a population of 18,000 within the trade area. The company plans to enter the Charlotte, NC and Columbia, SC markets late this year. As many as 50 stores are planned for the Charlotte markets and as many as 20 stores are planned for the Columbia market.

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

U.S. Factory Outlets, Inc. trades as U.S. Factory Outlets at 24 locations nationwide. The stores, selling apparel and general merchandise, occupy spaces of 30,000 sq.ft. to 52,000 sq.ft. in regional malls, outlet, power and strip centers. Plans call for six openings during 1997 and eight openings during 1998. Expansion will take place nationwide.

For more information, contact Frederic Raiff, U.S. Factory Outlets, Inc., Seven Penn Plaza, New York, NY 10001; 212-563-3650, Fax 967-9872.

Movieland Cinemas operates one location in NY. The movie theater is seeking spaces running 25,000 sq.ft. to 50,000 sq.ft. in freestanding facilities and end caps of strip centers. Plans call for five openings in the coming 18 months. Expansion will take place in the existing market.

Amazing Bargains operates four locations in NY. The general merchandise stores occupy spaces of 6,500 sq.ft. to 10,000 sq.ft. in freestanding facilities and strip centers. Plans call for six openings in the coming 18 months. Expansion will take place in the existing market.

Goodwill Industries of Greater New York operates 16 stores in NY. The general merchandise stores, which feature used items, occupy spaces of 5,000 sq.ft. to 18,000 sq.ft. in freestanding facilities and end caps of strip centers. Plans call for 15 openings in the coming 18 months. Expansion will take place in the existing market.

For more information on the above three companies, contact Marvin Hartman (Movieland and Amazing Bargains) or Peter Palemkin (Goodwill), c/o Pliskin Realty and Development, 179 West Bury Avenue, Carle Place, NY 11514; 516-997-0100, Fax 997-7225.

Henry Modell & Co., Inc. trades as Modell's Sporting Goods at 69 locations in MD, NJ, NY, PA and VA. The stores, selling sporting goods, athletic apparel and athletic footwear, occupy spaces of 15,000 sq.ft. to 20,000 sq.ft. in downtown store fronts, regional malls, power and strip centers. Growth opportunities are sought in the existing markets.

For more information, contact Aaron Fleishaker, Henry Modell & Co., Inc., 498 Seventh Avenue, 20th Floor, New York, NY 10018-6701; 212-822-1000, Fax 822-1090.

Dellaria Salons trades as Dellaria Hair Salons at 22 locations in MA, NH, NY and RI. The hair salons occupy spaces of 1,600 sq.ft. to 1,800 sq.ft. in upscale regional malls. Growth opportunities are sought in the existing markets.

For more information, contact Robert Dellaria, Dellaria Salons, 159 Cambridge Street, Allston, MA 02134; 617-254-1004, Fax 254-7823.

T.W. Rounds operates six locations in NH and RI. The stores, selling cards, gifts and luggage, occupy spaces of 2,700 sq.ft. in downtown store fronts, regional malls and strip centers. Growth opportunities are sought in the existing markets.

For more information, contact Jim Myers, T.W. Rounds, 200 Bald Hill Road, Warwick, RI 02886; 401-738-8000, Fax 738-0883.

Eyeglass Factory operates 53 stores in KY, MA, MI, OH and PA. The optical stores occupy spaces of 2,000 sq.ft. in freestanding facilities and strip centers. Plans call for as many as two openings in the coming 18 months. Expansion will take place in MA.

For more information, contact Steve Schaffer, Eyeglass Factory, 1603 East Nine Mile Road, Ferndale, MI 48220; 810-543-5100, Fax 543-0525.

Nicholas Markets does business as Food Town at five locations in NJ. The supermarkets occupy spaces of 30,000 sq.ft. in downtown store fronts, freestanding facilities, power and strip centers. Growth opportunities are sought in the existing market.

For more information, contact David Miniaci, Nicholas Markets, 350 Belmont Avenue, Haledon, NJ 07508; 201-595-5080, Fax 904-1945.

Hearx, Inc. operates 60 locations in CT, DE, FL, MD, MA, NJ, NY, PA and RI. The stores, selling hearing aids, occupy spaces of 2,000 sq.ft. in downtown store fronts 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 Paul Fetscher, Hearx, Inc., c/o Great American Brokerage, Inc., 220 East 42nd, 28th Floor, New York, NY 10017; 212-557-7272, Fax 557-1685.

Harwyn Shoes operates 17 locations in NJ and NY. The stores, selling mens shoes and apparel, occupy spaces of 1,500 sq.ft. to 1,800 sq.ft. in downtown store fronts, outlet centers and regional malls. Growth opportunities are sought in the existing markets.

For more information, contact J. Robert Blumenthal, Harwyn Shoes, PO Box 285, Garden City, NY 11530; 516-483-8600, Fax 483-8766.

La Femmina Beauty does business as The Lemon Tree at 81 locations in CT, MD, NJ, NY and PA. The unisex hair salons occupy spaces of 800 sq.ft. to 1,200 sq.ft. in downtown store fronts, freestanding facilities, specialty and strip centers. Growth opportunities are sought in the existing markets. The company cites Fantastic Sam and Super Cuts as competition.

For more information, contact John Wagner, La Femmina Beauty, 3301 Hempstead Turnpike, Levittown, NY 11756; 516-735-2828, Fax 735-1851.

Clemens Markets, Inc. trades as Clemens Markets at 14 locations in PA. The supermarkets occupy spaces of 40,000 sq.ft. to 55,000 sq.ft. in regional malls, power and strip centers. 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 Jack Clemens, Clemens Markets, Inc., 1555 Bustard Road, Kultsville, PA 19443; 215-361-9000, Fax 393-9886.

Fun Shop, Inc. trades as Fun Shop at five locations in PA. The cards and gifts stores occupy spaces of 4,500 sq.ft. in regional malls, power 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 Robert Lorrey, Fun Shop, Inc., 30 West Commerce Street, Shamokin, PA 17872; 717-644-3932, Fax 644-3935.

Potter Brothers Ski Shops, Inc. trades as Potter Brothers Ski Shop at four locations in MA and NY. The stores, selling ski apparel and related equipment, occupy spaces of 4,000 sq.ft. to 6,000 sq.ft. in freestanding facilities. Growth opportunities are sought in NY.

For more information, contact Dan Potter, Potter Brothers Ski Shops, Inc., 57 Cityview Road, Kingston, NY 12401; 914-338-5119, Fax 338-2079.

Anime Crash operates two locations in NY. The stores, which feature Japanese animation art and collectables, occupy spaces of 1,500 sq.ft. in downtown store fronts, power centers and tourist markets. Plans call for three openings in the coming 18 months. Expansion will take place in the existing market. Preferred demographics include a population of 100,000 within three miles earning at least $50,000 as the average income. Leases running 15 years are typical and company prefers a vanilla shell.

For more information, contact Joseph Delligatti, Anime Crash, c/o J.W. Burke & Company, 350 Lexington Avenue, New York, NY 10016; 212-682-4300, Fax 682-1898.

Family Toy Warehouse operates 24 locations throughout IN, OH and PA. The toy stores occupy spaces of 20,000 sq.ft. in freestanding facilities and strip centers. Plans call for as many as eight openings in the coming 18 months. Expansion will take place in NJ, OH and PA with an emphasis on the metropolitan areas of Philadelphia and Pittsburgh, PA as well as Cleveland and Columbus, OH.

For more information, contact David Vender, Family Toy Warehouse, c/o Equity Properties, 1990 Sproul Road, Broomall, PA 19008; 610-353-6300, Fax 353-9256.

Edward's Food Stores, Inc. trades as Edward's Food Store at 29 locations in NJ. The supermarkets occupy spaces of 44,000 sq.ft. in freestanding facilities and strip centers. 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 Kevin Keenan, Edward's Food Stores, Inc., 681 Newark Avenue, Elizabeth, NJ 07208; 908-965-3442, Fax 965-3427.

Genovese Drug Stores, Inc. trades as Genovese Drug Stores at 120 locations in CT, NJ and NY. The drug stores occupy spaces of 12,000 sq.ft. in freestanding facilities, regional malls and strip centers. Plans call for 10 openings in the coming 18 months. Expansion will take place in CT, NJ and NY.

For more information, contact Herbert Kett, Genovese Drug Stores, Inc., 80 Marcus Drive, Melville, NY 11747; 516-420-1900, Fax 845-8323.

McHarris Gifts operates six locations in NY. The cards and gifts stores occupy spaces of 3,000 sq.ft. in regional malls, specialty and strip centers. Growth opportunities are sought in the existing market.

For more information, contact Joseph McHarris, McHarris Gifts, 1913 Genessee Street, Utica, NY 13501; 315-732-1202, Fax 732-0418.

The Goddard School For Early Childhood Education is looking for build-to-suit opportunities in NJ and NY for purchase or leaseback deals. The chain prefers sites catering to an upscale neighborhood. Requirements include a one-acre parcel to accommodate a 6,100 sq.ft. or 7,100 sq.ft. building, with a large outdoor play area.

For more information, contact Steve Blitzer or Harry Rosenblum of Blitzer Rosenblum Realty Group, Inc. at 908-679-8686.

Peebles, Inc. trades as Peebles Department Stores at 82 locations in DE, KY, MD, NC, SC, TN, VA, NJ, PA, NY and AL. Spaces of 25,000 sq.ft. to 35,000 sq.ft. are used in malls located in small cities within large markets, while spaces of 15,000 sq.ft. to 25,000 sq.ft. are used in prominent strip centers located in county seats. Expansion opportunities are sought in NY, NJ, PA, DE, VA, NC, SC, WV, GA, AL, MS, AR, MO, TN, KY, IL, IN, OH and northern FL.

For more information, contact David Bordsen, Peebles, Inc., One Peebles Street, South Hill, VA 23970; 804-447-5413, Fax 447-5474.

The Rag Shop operates 68 locations in CT, FL, NJ, NY and PA. The stores, selling arts and crafts supplies as well as fabric, occupy spaces of 7,500 sq.ft. to 15,000 sq.ft. in freestanding facilities and strip centers. Plans call for as many as three openings in the coming 18 months. Expansion will take place in the existing markets.

For more information, contact Stanley Berenzweig, The Rag Shop, 111 Wagaraw Road, Hawthorne, NJ 07506; 201-423-1303, Fax 427-6568.

Petland Discounts operates 106 locations in CT, FL, NJ and NY. The stores, selling pet supplies, occupy spaces of 2,500 sq.ft. in downtown store fronts and strip centers. Growth opportunities are sought in the existing markets.

For more information, contact Neil Padron or Joseph Witt, Petland Discounts, 355 Crooked Hill Road, Brentwood, NY 11717; 516-273-6363, Fax 273-6513.

Ski Market, Inc. trades as Ski Market at 26 locations in CT, ME, MA, NH, NY and RI. The stores, selling sporting goods, sportswear, ski equipment and bicycles, occupy spaces of 6,000 sq.ft. to 8,000 sq.ft. in freestanding facilities and strip centers. Plans call for two openings in the coming 18 months. Expansion will take place within the existing markets.

For more information, contact Andrew Ferguson, Ski Market, Inc., 135 Second Avenue, Waldham, MA 02154; 617-890-1212, Ext. 303, Fax 890-1811.

Fabric & Craft Bonanza operates 20 locations in CT, NJ and NY. The stores, selling fabrics, crafts, floral items and notions, occupy spaces of 11,000 sq.ft. in downtown store fronts, freestanding facilities, regional malls, power and strip centers. Plans call for as many as four openings in the coming 18 months. Expansion will take place within the existing markets. Preferred demographics include a population of 100,000 within five miles earning $35,000 as the average income. Leases running five years, with options, are typical.

National Book Warehouse, Inc. trades as Book Warehouse at 91 locations nationwide. The book stores, which offer books, computer software, magazines, stationery, games, puzzles, compact discs, calendars and audio books, occupy spaces of 3,000 sq.ft. to 5,000 sq.ft. in outlet centers. Preferred co-tenants include Polo, Speigel and Liz Claiborne. Plans call for 15 openings in the coming 18 months. Expansion will take place nationwide. Leases running five years, with options, are typical.

Foozles, Inc. trades as Foozles, An Extraordinary Bookstore at six locations in CA, MA, PA, TN, TX and WA. The book stores, which offer books, computer software, magazines, stationery, games, puzzles, compact discs, calendars and audio books, occupy spaces of 10,000 sq.ft. to 25,000 sq.ft. in freestanding facilities and strip centers. Preferred co-tenants include Bed Bath & Beyond, Old Navy Clothing Co., Saks Off-Fifth Avenue and other category killer stores. 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.

For more information on the above two companies, contact David Hinkle, National Book Warehouse, Inc. or Foozles, Inc., 5915 Casey Drive, Knoxville, TN 37909; 423-558-8187, Fax 558-6249.

The Book Market, Inc. trades as Book Market at more than 50 locations nationwide. The book stores, which operate 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 120 openings annually. Expansion will take place nationwide. Leases running three months, with month-to-month options, are typical.

For more information, contact John Raines, The Book Market, Inc., 5915 Casey Drive, Knoxville, TN 37909; 423-558-8187, Ext. 30, Fax 558-6249.

Mont Blanc North American operates 27 stores specializing in writing instruments, leather items and accessories. The company's areas of existing markets cover NY, MA, NJ, MI, CA, HI, WA, GA and Canada. Spaces of 600 sq.ft. are used in malls, downtown store fronts and specialty centers. Expansion plans call for six to eight openings during the coming 18 months. Growth opportunities are sought nationwide, in addition to the Caribbean, Guam, Puerto Rico and the Virgin Islands. A 10-year lease with landlord contributions is the typical deal.

For more information, contact Bruce Koniver, Mont Blanc, c/o Felenstein Koniver & Associates, 407 Lincoln Road, Suite 704, Miami Beach, FL 33139; 305-532-6100, Fax 532-6101.

 

Financial News...

Dayton Hudson (612-375-3510) plans to close its 25 Mervyn's stores in FL and GA, in addition to closing or selling 10 addition Mervyn's in yet-to-be-announced markets. Dillards Department Stores has agreed to purchase 10 of the 18 Mervyn's stores in FL. JC Penney has agreed to purchase three of seven Mervyn's in GA. The company also is closing its Marshall Field's division in TX and a Marshall Field's store in Park Forest, IL. As a result of the Marshall Fields and Mervyn's closings, Dayton Hudson expects to see a $134 million charge against 1996 fourth quarter earnings and to generate $350 million in cash from the sale of real estate. The $350 million is expected to be put towards reducing debt and future growth.

Linens 'n Things (914-925-4321) saw a 29.6% increase in 1996 fourth quarter sales and same store sales increased by five percent. The company plans to open 20 to 25 superstores, in the 35,000 sq.ft. range, this year. Linens 'n Things operates 132 superstores and 37 traditional stores, using 7,000 to 10,000 sq.ft., throughout the nation.

Best Buy (612-947-2000) plans to raise cash by selling and leasing back 11 company-owned stores. Proceeds from the sale of properties brought in $90 million in fiscal 1996. In the upcoming fiscal year, the company expects to open 15 stores. Best buy operates 272 electronics stores.

Delchamps (334-433-0437) showed net earnings of $176,000 for the 13-week period ending December 28, 1996 compared to net earnings of $808,000 for the same period of 1995. Same store sales for the 13-week period saw a 3.3% decline. Delchamps operates 119 supermarkets throughout AL, FL, MS and LA, in addition to 10 liquor stores in FL.

Hannaford Bros. (207-883-2911) saw a 15.2% increase in 1996 sales and same store sales were up by 3.2% for the year. During 1997, the supermarket chain expects to spend commit $175 million in capital improvements, including increasing its retail selling space by 11% of which most of the growth will occur in the Southeast.

 

Leasing Versus Management

by Alan Alexander, SCSM, CPM

Over the years it has been apparent that many leasing agents and many shopping center managers are uncomfortable with each other, from a professional point of view. Managers often accuse leasing agents of not working hard enough to keep the basic lease terms intact and leasing agents often accuse managers of being too focused on the details of administration and not on the big picture.

Like most disagreements, there may be a little bit of truth in both sides, but equally as important, both parties need each other and both contribute in their unique way to the overall success of the shopping center. Each of these professionals have succeeded in their chosen field because they are fully aware of the unique requirements of their jobs and fulfill them quite well.

Very few managers are good leasing agents and very few leasing agents would be good managers because the talents that make each of them successful, do not lend themselves easily to the other's field of endeavor. Both of these activities are distinct and unique, but no matter the areas that set them apart, both are also very stressful, very taxing and not at all mindful of normal business hours. This common element, alone, should bring the two together, if for no other reason, mutual respect.

The effective leasing agent faces more rejection than most human beings should be required to suffer. Once a prospect is identified, the leasing agent must overcome objections and make compromises with the prospect in order to gain a commitment for the shopping center being leased. However, the selling assignment is still not complete. The leasing agent then must convince the shopping center owner and/or asset manager, that this is the best prospect for a specific space at this point in time. It is not unusual for the leasing agent to face another bout of rejection when the owner or asset manager decided that this is really not the best prospect, quite often for reasons that are not entirely clear at the time. In spite of this rejection, the effective leasing agent is back on the street, chin up, positive attitude and ready to repeat the process again, and again, until the needed results are achieved.

The shopping center manager, on the other hand, faces a similar set of frustrations, but in a totally different way. Once the lease is finally executed, it becomes the job of the shopping center manager to help the tenant realize the dream that brought him or her to sign a lease in the first place. No matter how realistic that dream may have been, the new merchant has high expectations of this new relationship with the shopping center and anything that does not measure up is often blamed on the owners and/or the manager. The manager is always caught up between the landlord's need for maximizing the net operating income and the tenant's desire to minimize costs, while maintaining a first class shopping facility. Obviously, if all leases had identical language, the manager's job would be much easier. Unfortunately, if any landlord required all tenant to sign the same lease or go elsewhere, there would be very few difficult tenants for the manager to manage, in fact, there would be very few tenants at all.

All of us that are involved either as owners, senior management and/or assets management must do everything we can do to make both parties realize not only their importance to the process, but the importance of the other side as well. Deep down there is little doubt that both will begrudgingly accept the need for the other, but in the frustrations of day to day operations, the differences often become the focus of arguments and snide remarks. It is up to those at the top to emphasize the need for both of these critical elements to the success of our shopping centers.

Without the effective leasing agent, we do not have a viable tenant mix, we do not have cash flow and we do not have the value that is created by these crucial elements. On the other hand, if the manager is not doing an effective job, the existing merchants are often up in arms and disgruntled, the physical plant is not attractive and inviting and the likely customers for the shopping center are shopping elsewhere. We are, in fact, a team, with each member of the team contributing equally and each member being a vital link to the success of the shopping center. Each member of the team is dependent of the other team members to provide them with excellence in their area of endeavor. Given that few can do both jobs equally as well it is quite clear that both parties need each other and the more they can show appreciation for the accomplishments of their counterparts, the easier their jobs will be as well.

Alan Alexander is a Senior Certified Shopping Center Manager with Woodmont Real Estate Services, 1050 Ralston Avenue, Belmont, CA 94002; 415-592-3960, Fax 598-9094.

 

Buyers & Sellers of Commercial Properties

ARC Properties, Inc., an affiliate of Tibor Pivko & Company and Growth & Income, Inc., is in the process of selling one of its properties during the first quarter of 1997. Accordingly, a property (or up to three properties) is needed in an aggregate amount of $11.5 million to complete a 1031 exchange. The company is seeking a single tenant net lease, with at least 15 years remaining on the term, in a major metropolitan markets nationwide. Investment grade quality is preferred, but not required.

For more information, contact Claudia Lomicky at (201-345-1900), Fax (345-3291).

Borrus Associates represents a client in the market to acquire anchored shopping centers, strip centers, neighborhood centers and power centers within a 50 to 70 mile radius of Manhattan, NY.

For more information, contact Julius Borrus at (908-679-4100).

RD Management Corp. is selling an outlot in Mt. Olive, NJ; two outlots at Williamstown Shopping Center in Williamstown, NJ and an outlot in Vineland, NJ. The company is also selling an outlot at a shopping center anchored by Grand Union and Caldor in Deer Park, NY and an outlot at Lake Shore Plaza, which is anchored by Waldbaums and Sears Hardware, in Lake Ronkonkoma, NY.

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

A&P is selling three shopping centers. The shopping centers for sale include a 64,028 sq.ft. project with seven acres of land in Holyoke, MA; a 16,604 sq.ft. project with 1.63 acres of land in Provincetown, MA and a 40,347 sq.ft. project with 8.7 acres of land in Springfield, MA.

For more information, contact A&P at (1-800-927-7368).

Kimco Realty Corporation is in the market to acquire shopping centers having GLAs of at least 150,000 sq.ft. in key growth markets or regional locations nationwide. All cash deals are possible.

For more information, contact Ed Senenman at (516-869-7230), Fax (869-7228) or Georgia Misoulis at (516-869-7235), Fax (869-7228).

Trademark Properties, Inc. has the listing to sell a 25,213 sq.ft. outparcel at Southgate Shopping Center in Pensacola, FL. The project is anchored by Winn-Dixie, Eckerd Drugs, Big Lots, Blockbuster and Radio Shack. The asking price is $150,000. The company also has the listing to sell 35,190 sq.ft. of land in Pensacola, FL. The site has 207 feet of frontage on Davis Highway and is located across from University Mall which is anchored by JC Penney, McRaes, Sears and United Artist. Other retailers in the area include Wal*Mart, Books A Million, Campo, Circuit City, Phar Mor, Sears Homelife and several restaurants. The asking price is $565,000.

For more information, contact Todd Snyder at (904-434-1173).

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

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

Prime Locations Consulting, Inc. has the listing to sell a 4,800 sq.ft. freestanding building in Chicopee, MA; a 4,280 sq.ft. freestanding building in Framingham, MA; .75 acres of land in Lowell, MA; a 4,800 sq.ft. freestanding building in Lynn, MA; a 6,056 sq.ft. freestanding building in New Bedford, MA; a 9,198 sq.ft. building in a central business district in Quincy, MA; a 6,633 sq.ft. freestanding building in Buffalo, NY; a 6,720 sq.ft. freestanding building in Buffalo, NY; a 19,500 sq.ft. facility in a central business district in Elmira, NY; a 7,329 sq.ft. freestanding building in Freeport, NY; a 4,908 sq.ft. freestanding building in Greece, NY; a 30,000 sq.ft. strip center in Gloversville, NY; a 5,800 sq.ft. freestanding building in Poughkeepsie, NY; 7,573 sq.ft. of land in Rochester, NY; a 4,800 sq.ft. freestanding building in Schenectady, NY; 6,132 sq.ft. in a central business district in Utica, NY; a 6,449 sq.ft. freestanding building in Wellsville, NY; a 4,593 sq.ft. freestanding building in Gibsonia, PA; a 5,040 sq.ft. freestanding building in Hermitage, PA; an 8,200 sq.ft. freestanding building in Pawtucket, RI and a 6,720 sq.ft. freestanding building in Providence, RI.

For more information, contact Jim Matthews at (972-991-7000), Fax (991-1218).

Sigma National, Inc. brokered the sale of 10.907 acres of land at Princess Anne Marketplace in Virginia Beach, VA to Dayton Hudson. The company plans to develop a 122,000 sq.ft. Target store on the site which is expected to open during October 1997.

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

Stephen M. Segal, Inc. has the listing to sell a 2.9 acre retail development site in Ewing Township, NJ. The asking price is $500,000. The company has the listing to sell two retail buildings in downtown Trenton, NJ. The one and two story buildings, which contain 5,000 sq.ft. on the first floors and 2,000 sq.ft. on the second floor, are located across from Mercer County Community College. The asking price is $219,000. The company also has the listing to sell seven acres of land in Hamilton, NJ. The site is located at the intersection of Route 33 and Ward Avenue Extension and adjacent to Suburban Plaza which is anchored by Caldor, ShopRite and Drug Emporium. The asking price is $950,000.

For more information, contact Stephen M. Segal, Inc. at (609-896-3399), Fax (895-1408).

Global Real Estate Network Corp. has the listing to sell a shopping center in North Lauderdale, FL. The project is anchored by Winn-Dixie and Eckerd Drugs. The asking price is $5.5 million. The company has the listing to sell a 57,000 sq.ft. shopping center in Altamonte Springs, FL. The project is located near major restaurants and is less than one mile from Altamonte Mall. The asking price is $2.8 million and financing is available. The company has the listing to sell a 150,000 sq.ft. shopping center in West Fort Lauderdale, FL. The asking price is $16 million and financing is available. The company also has the listing to sell a shopping center in Sanford, FL. The project is located between new residential subdivisions and new business parks. The asking price is $2.75 million and financing is available.

For more information, contact Robert Tugender at (305-230-1151), Fax ()230-1149).

Cornerstone Real Estate has the listing to sell Meadowlark Shopping Center in Lakewood, CO. The 44,329 sq.ft. anchored project is 99% occupied. The asking price is $2.6 million and a $1.82 million loan is assumable. The company also has the listing to sell Ivy-K Shopping Center in Denver. The 109,504 sq.ft. project is 98% occupied. The asking price is $3.8 million and an assumable loan is available.

For more information, contact Tom Marier at (503-325-1749), Fax (325-3803).

Summit Commercial is in the market to acquire 40 grocery-anchored shopping centers in CA in the coming two years. Properties of interest have major grocery operators using 30,000 sq.ft. to 50,000 sq.ft.; are located on streets or intersections with high traffic, have adequate parking with four to five cars per 1,000 sq.ft.; and a total GLA from 80,000 sq.ft. to 200,000 sq.ft. The company plans to realign the centers with retailers that complement and meet the needs of the surrounding residents. Within the past four months, the company has closed on four centers totalling $100 million. These include the 91,000 sq.ft. Buena Vista Marketplace in Duarte, CA; the 101,000 sq.ft. 580 Marketplace in Castro Valley, CA; the 162,000 sq.ft. Southampton Shopping Center in Benecia, CA and the 366,000 sq.ft. Westminster Center in Westminster, CA.

For more information, contact Jack Mahoney at (310-648-7500).

 

Store Closings

McCory Corp. (717-757-8181) plans to close 300 stores pending bankruptcy court approval. After the 300 closings, the chain is expected to have approximately 160 units operating east of the Mississippi. McCory's also trades as McLellan, H.L. Green, T.G.&Y., J.J. Newberry and G.C. Murphy.

Sportmart, Inc. (847-520-0100) is closing 11 stores in Canada, marking its exit from that market. The company will show an $18 million to $21 million charge due to the closings.

JH Collectibles (414-744-5080) is running GOB sales at its 30 outlet stores. The company filed for bankruptcy protection four months ago and hopes to sell the JH label as a going concern, in addition to selling about 20 store leases.

Jay Jacobs (206-622-5400) closed its Bellevue Square store in Puget Sound, WA. The Limited will take over Jay Jacobs location and the retrofitting has commenced. Jay Jacobs emerged from bankruptcy in 1995 and opened 15 stores last year. The company continues to struggle, with same store sales in the 1996 third quarter showing a 16% decline compared to the 1995 third quarter.

Dillards Department Stores (501-376-5200) closed its 200,000 sq.ft. store at the Gulfgate Mall in Houston, TX one month before the lease expired.

The Limited (614-479-7000) is closing 200 stores which trade as Limited, Lane Bryant, Express and Lerner New York this year. The only chain not being affected by the closings is Victoria's Secret. The Limited operates almost 4,000 stores and expects to expand to Victoria's Secret chain by 50 units in 1997. Top management at its Express and Intimate Brands divisions are being replaced, in hopes of bringing these division back up to past levels of profitability.

Casual Corner (860-741-0771) recently closed its store at the Avenue Mall in Appleton, WI. The company also decided not to renew its lease at the Crossroads Mall in Boulder, CO.

 

Mergers & Acquisitions

Prism Entertainment Corporation (805-397-7955), which recently emerged from Chapter 11 protection, has acquired Lee Video City, Inc. which operates 18 stores in CA trading as Video City.

Payless ShoeSource, Inc. (913-233-5171) recently signed a definitive agreement to acquire Parade of Shoes from J. Baker, Inc. The sale will include the purchase of the company's stores, inventory and trademarks and is expected to be completed early this year. Parade of Shoes operates 186 stores in 14 states and Payless intends to operate the chain as a separate division.

Video Update, Inc. (612-222-0006) recently acquired the assets of Video Warehouse, Inc., a privately owned chain of 10 video stores in the Pacific Northwest. Following the acquisition, Video Update operates 289 video stores in 14 states and three Canadian provinces.

 

New Construction

Devcon Enterprises, Inc. recently broke ground on The Marketplace at Port St. Lucie in Port St. Lucie, FL. The 155,559 sq.ft. project will be anchored by Winn-Dixie and Wal*Mart. The company recently celebrated the grand opening of Torrington Fair in Torrington, CT. The 203,176 sq.ft. power center is anchored by a 98,511 sq.ft. Wal*Mart, a 63,498 sq.ft. Price Chopper supermarket, a 24,350 sq.ft. Sears Hardware store and a 2,305 sq.ft. McDonald's on a pad site. A 14,512 sq.ft. in-line space is available for lease.

For more information, contact Devcon at (860-521-6999), Fax (521-6789).

Wyatt Development is developing East Towne Shopping Centre in Lexington, SC. The project will be anchored by a 200,000 sq.ft. Wal*Mart Supercenter and an adjoining strip center anchored by J.D.'s Fashions, Cato/Cato Plus, Dollar Tree, The Shoe Department, GNC and Friedman's Jewelry. A 9,600 sq.ft. Golden Coral restaurant and a 3,500 sq.ft. Chick-Fil-A restaurant will occupy outparcels at the project. Three additional tenants have committed to space at the center, but leases have not been signed. A fourth space is available for lease. The project is expected to open during May.

For more information, contact Stephen Rainer at (803-649-3975).

Courtelis Company recently broke ground on Magnolia Shoppes in Coral Springs, FL. The 200,151 sq.ft. project will be anchored by a 60,642 sq.ft., 16-screen Regal Cinemas and a 53,000 sq.ft. Albertson's Supermarket. Other tenants will include Salon 100, a bank, a day care center and a dry cleaners. A Summer opening is planned.

For more information, contact Rod Castan at (305-379-8467).

ORIX Sansone, LLC, a joint venture between the Sansone Group and Orix Real Estate Equities, Inc., recently broke ground on phase I of Promenade at Brentwood Shopping Center in Brentwood, MO. The 300,000 sq.ft. first phase will be anchored by Target, Sports Authority, HomePlace, PetsMart, Cost Plus, Shane Jewelers, DOC Optical and United Missouri Bank. Approximately 17,000 sq.ft. is available for lease. Phase I is expected to open during late Summer. The company plans to break ground on phase II before phase I is completed. Plans for phase II call for an additional 300,000 sq.ft. of retail space as well as a 164,000 sq.ft. office building.

For more information, contact the Sansone Group at (314-727-6664) or Orix Real Estate Equities at (312-669-6400).

 

Automotive Retailers Seek Sites in The Northeast

Maaco Enterprises, Inc. is looking to expand its auto painting and body works chain. The company will purchase or lease existing buildings or do build-to-suit deals. Buildings of 8,000 sq.ft. to 12,000 sq.ft., situated on at least one acre, are of interest. Parking requirements call for at minimum 35 spaces.

For more information, contact Maaco Enterprises Real Estate Department at 800-521-6282.

Consumer Auto Parts, Inc. trades as Consumer Auto Parts at 13 locations in MA. The stores, selling automotive parts and accessories at discount price-points, occupy spaces of 4,500 sq.ft. to 5,000 sq.ft. in freestanding facilities and strip centers. Plans call for as many as five openings in the coming 18 months. Expansion will take place in the existing market.

For more information, contact Merrill Cohan, Consumer Auto Parts, Inc., 222 Summer Street, Worcester, MA 01604; 508-798-1827, Fax 799-5734.

Molin Auto Parts, Inc. trades as Parts Plus Auto Stores at 18 locations in NY. The automotive parts and supplies stores occupy spaces of 3,000 sq.ft. in freestanding facilities and strip centers. Growth opportunities are sought in the existing market.

For more information, contact Tray Molin, Molin Auto Parts, Inc., 3896 Union Road, Buffalo, NY 14225; 716-633-4455, Fax 633-5749.

Scrubadub operates nine locations in MA. The car washes occupy spaces of 5,000 sq.ft. in freestanding facilities and strip centers. Growth opportunities are sought in the existing market.

For more information, contact Marshall Paisner, Scrubadub, 172 Worcester Road, Natick, MA 01760; 617-237-5458, Ext. 226, Fax 655-9261.

Sanel Auto Parts operates 33 locations in ME, NH and VT. The automotive parts stores occupy spaces of 6,000 sq.ft. in freestanding facilities and strip centers. Growth opportunities are sought in the existing markets.

For more information, contact Henry Sanel, Sanel Auto Parts, 129 Manchester Street, Concord, NH 03301; 603-225-4000.

Rodi Automotive, Inc. does business as Auto Barn Stores at 18 locations in NY. The automotive stores occupy spaces of 7,000 sq.ft. in freestanding facilities and strip centers. Plans call for two openings in the coming 18 months. Expansion will take place in the existing market.

For more information, contact Herbert Blumberg, Rodi Automotive, Inc., 13 Harbor Park Drive, Port Washington, NY 11050; 516-484-9500, Ext. 232, Fax 484-4241.

Windshields America operates more than 300 units nationwide. The stores, which perform automotive glass replacement, occupy spaces of 2,000 sq.ft. in freestanding facilities. Growth opportunities are sought in DE, NJ and PA. Preferred demographics include a population of 150,000 within five miles earning $40,000 as the average income. Leases running five years are typical and the company, which prefers a vanilla shell, looks for environmentally clean previous automotive sites.

For more information, contact David Vender, Windshields America, c/o Equity Properties, 1990 Sproul Road, Broomall, PA 19008; 610-353-6300, Fax 353-9256.

 

Apparel Retailers Seeking Northeastern Locations

Big "M", Inc. trades as Mandees at 114 locations in CT, DE, MD, NJ, NY, PA and VA. The stores, selling junior and women's apparel, occupy spaces of 8,000 sq.ft. to 10,000 sq.ft. in freestanding facilities, regional malls and strip centers. Growth opportunities are sought in the existing markets.

The company also trades as Annie Sez at 39 locations in CT, DE, MD, NJ, NY, PA and VA. The women's apparel stores occupy spaces of 12,000 sq.ft. in freestanding facilities and strip centers. Growth opportunities are sought in the existing markets.

For more information the above two companies, contact Kenneth Mandelbaum, Big "M", Inc., 12 Vreeland Avenue, Totowa, NJ 07512; 201-890-0021, Fax 890-4075.

R.P. McCoy Apparel Ltd. does business as Labels For Less at 15 locations in NY. The stores, selling contemporary women's apparel at upper-moderate to better price-points, occupy spaces of 2,500 sq.ft. in freestanding facilities. Plans call for as many as four openings in the coming 18 months. Expansion will take place in the existing market.

For more information, contact Julie Karian, R.P. McCoy Apparel Ltd., 619 West 54th Street, Third Floor, New York, NY 10019; 212-957-9150, Fax 957-9762.

Oversize Clothing Corp. trades as Krug's Big & Tall at seven locations in NJ. The stores, specializing in big and tall lines of menswear, occupy spaces of 5,500 sq.ft. to 7,000 sq.ft. in freestanding facilities, outlet, specialty and strip centers. Plans call for two openings in the coming 18 months. Expansion will take place in the existing market.

For more information, contact Jerry Krug, 16 North Washington Avenue, Bergenfield, NJ 07621; 201-387-0100, Fax 387-1619.

Hajjar's Clothing Companies trades as Hajjar's Big & Tall at seven locations in MA and NH. The stores, selling big and tall menswear, occupy spaces of 3,000 sq.ft. in specialty centers. Plans call for one opening in the coming 18 months. Expansion will take place in the existing markets.

For more information, contact Steven Hajjar, Hajjar's Clothing Companies, 513 Quincy Avenue, Quincy, MA 02169; 617-479-3251, Fax 479-9450.

Sunny Surplus, Inc. trades as Sunny's Affordable Outdoor Store at 25 locations in MD, PA, VA and Washington, D.C. The stores, selling outerwear and sportswear, occupy spaces of 7,000 sq.ft. to 11,000 sq.ft. in freestanding facilities and strip centers. Growth opportunities are sought in MD, PA and VA.

For more information, contact James Howard, Sunny Surplus, INc., 7540 Washington Boulevard, Baltimore, MD 21227; 410-799-4900, Fax 799-4907.

Dante-Lordae Formal Wear, Inc. trades as Dante's at 18 locations in NJ and NY. The men's formal wear stores occupy spaces of 1,000 sq.ft. to 3,000 sq.ft. in strip centers. Growth opportunities are sought in the existing markets.

For more information, contact Jay Dibble, Dante-Lordae Formal Wear, Inc., 241 West Saint George Avenue, Linden, NJ 07036; 908-486-2829, Fax 486-1642.

DOTS operates 240 stores selling ladies apparel at price points of $10 or less. The areas of existing operations cover CT, RI, NH, MD, MI, NJ, NY, PA, DE, IN, MN, WI, IA, OH, IL, KY, MA, VT, ME, FL and VA. Spaces of 3,000 sq.ft. to 4,000 sq.ft. are utilized in downtown store fronts, power and strip centers. Growth projections call for 60 openings in the coming 18 months. Locations are sought in the existing markets, in addition to MO and Washington, D.C.

For more information, contact George Haskins, DOTS, 30801 Carter Street, Solon, OH 44139; 216-349-7900, Fax: 349-7004

Modern Woman, Inc. trades as Modern Woman, Fitting Image and Woman's World at 175 locations nationwide. The stores, specializing in apparel for large size women, occupy spaces of 4,000 sq.ft. to 7,000 sq.ft. in malls, strip, power and outlet centers. Expansion plans call for 10 to 20 openings in the coming 18 months. Growth opportunities are sought nationwide.

For more information, contact Debra Eckert, Modern Woman, Inc., 1850 Colonial Village Lane, Lancaster, PA 17601; 717-391-3100, Fax 391-3183.

Catherine's, Inc. trades as P.S. Plus Sizes, Added Dimensions, The Answer and Catherine's at 465 locations nationwide. The stores, specializing in large size ladies apparel, occupy spaces of 3,500 sq.ft. to 4,000 sq.ft. in strip centers and freestanding facilities. Expansion plans call for 35 openings in the coming 18 months. Growth opportunities are sought nationwide.

For more information, contact Bill Serex, Catherine's, Inc., 3742 Lamar Avenue, Memphis, TN 38118; 901-363-3900 Ext. 1, Fax 794-9392.

Men's Wearhouse, Inc. operates 328 stores nationwide. The 5,000 sq.ft. to 6,000 sq.ft. stores offer menswear at off-price points. Locations in strip and power centers are sought to meet the company's plans for 50 openings this year. Growth opportunities are sought nationwide.

For more information, contact Bill Erickson, Men's Wearhouse, Inc., 40650 Cyclopedia Circle, Freemont, CA 94538; 510-657-9821, Fax 657-9764.

K&G Men's Center, Inc. operates 17 stores in TX, GA, IN, OH, CO, NY, MA, NJ, MD, VA and Washington, D.C. The stores, carrying menswear and accessories, utilize spaces of 15,000 sq.ft. to 20,000 sq.ft. Locations in power centers and older strip centers are of interest. Plans call for 18 openings this year, with growth taking place nationwide.

For more information, contact John Dancu, K&G Men's Center, Inc. 1750 A Elsworth Industrial Blvd., Atlanta, GA 30318; 404-351-7987, Fax 351-8038.

Steinmart operates 125 stores selling better lines of clothing for the family, home decor items and gifts. The areas of existing operations cover AL, AZ, AR, FL, GA, IN, KS, KY, LA, MS, NC, OH, OK, PA, SC, TN, TX and VA. Occupying spaces of 36,000 sq.ft., strip center and regional mall locations are preferred. Expansion plans call for 25 to 35 openings in the coming 18 months. Growth opportunities nationwide will be considered.

For more information, contact Mike Allen, Steinmart, 1200 Riverplace Blvd., Jacksonville, FL 32207; 904-346-1500, Fax 398-4341.

One Price Clothing Stores, Inc. carries clothing for women and juniors at a fixed $7 price point at 661 stores in 28 states. The stores use spaces of 3,000 sq.ft. in strip centers. Expansion plans call for 25 openings in the coming 18 months. Growth opportunities are sought nationwide.

For more information contact, Brenda Buchanan, One Price Clothing Stores, Inc., PO Box 2487, Spartanburg, SC 29304; 864-433-8888 Ext. 210, Fax 433-0426.

Bon-Worth Manufacturing Co. trades as Bon-Worth at 105 locations nationwide. The stores focus on missy apparel at popular prices, but also carry women's and childrenswear. Spaces of 2,500 sq.ft. are used in outlet oriented centers. Expansion will continue nationally.

For more information, contact Sharon Neely, Bon-Worth Manufacturing Co., PO Box 2890, Hendersonville, NC 28793; 704-697-2216 Ext. 133, Fax 697-2170.

Ann Taylor, Inc. trades as Ann Taylor at 310 stores nationwide. Offering better lines of womens ready to wear, the stores utilize spaces of 4,000 sq.ft. to 4,500 sq.ft. in malls, downtown store fronts, specialty and outlet centers. Plans call for 20 openings in the coming 18 months. Opportunities for growth are sought nationwide.

For more information, contact Paul Deleone, Ann Taylor, Inc., 142 W 57th Street, New York, NY 10019; 212-541-3300, Fax 541-3670.

Cache sells distinctive ladies apparel at 160 locations nationwide. The stores utilize spaces of 2,000 sq.ft. in upscale malls. Expansion plans call for 10 to 12 openings in the coming 18 months. Growth will take place nationwide.

For more information, contact Roy Smith, Cache, 1460 Broadway, 15th Floor, New York, NY 10036; 212-840-4242, fax 212-840-4225.

 

Food Tenants Hungry for New Locations

Rita's Water Ice Franchise Corp. trades as Rita's Water Ice and Rita's Italian Ice at 120 locations in DE, FL, GA, MD, NJ, NY, OH, PA, SC and VA. The stores, selling water and Italian ices, occupy spaces of 600 sq.ft. to 1,500 sq.ft. in freestanding facilities and end-caps of strip centers. Plans call for as many as 70 openings annually. Expansion will take place in FL, MD, NJ, NY, OH, PA and VA. The company is franchising.

For more information, contact Jim Neilland, Rita's Water Ice Franchise Corp., 1525 Ford Road, Bensalem, PA 19020; 215-633-9899, Fax 633-9922.

Back Bay Restaurant Group operates 35 locations in CT, MA, NJ, RI and Washington, D.C. The restaurants occupy spaces of 5,000 sq.ft. in freestanding facilities and regional malls. Growth opportunities are sought in the existing markets.

For more information, contact Michael McKay, Back Bay Restaurant Group, 284 Newbury Street, Boston, MA 02115; 617-536-2800, Fax 236-4175.

Bill Gray's, Inc. trades as Bill Gray's Restaurant and Tom Wahl's at 12 locations in NY. The American-style quick service restaurants, which feature burgers, fries, steaks and seafood, occupy spaces of 640 sq.ft. to 5,200 sq.ft. in freestanding facilities and regional malls. Growth opportunities are sought in the existing market.

For more information, contact Dan Gray, Bill Gray's, Inc., 941 Hard ROad, Webster, NY 14580; 716-787-0150, Fax 671-9472.

Cafe Spasso operates two locations in NY. The bistros, serving American and Italian dishes, occupy spaces of 3,500 sq.ft. to 5,000 sq.ft. in freestanding facilities, specialty and strip centers. Plans call for two openings in the coming 18 months. Expansion will take place on Long Island, NY.

Hospitality Associates trades as Fuddruckers at nine locations in NJ, NY and PA. The restaurants, serving gourmet hamburgers, occupy spaces of 5,000 sq.ft. to 7,000 sq.ft. in freestanding facilities, power and strip centers. Plans call for at least two openings in the coming 18 months. Expansion will take place in DE, NJ and PA.

Major Steakhouse operates three locations in NY and FL. The full-service steakhouses occupy spaces of 7,000 sq.ft. in downtown store fronts and suburban freestanding facilities. Plans call for three openings in the coming 18 months. Expansion will take place in NY.

Max Steaks operates two locations in CT and NY. The steakhouses occupy spaces of 500 sq.ft. to 1,000 sq.ft. in a variety of real estate settings. Plans call for the opening of four units in 1997 and six units in 1998. Expansion will take place in CT, NJ and NY.

For more information on the above four restaurant chains, contact Paul Fetscher, c/o Great American Brokerage, 220 East 42nd Street, 28th Floor, New York, NY 10017; 212-557-7272, Fax 557-1685.

Frankie's Franchise Systems trades as Frankie's at seven locations in CT. The restaurants occupy spaces of 2,500 sq.ft. in freestanding facilities and strip centers. Growth opportunities are sought in CT and MA. The company is franchising.

For more information, contact Van DiCorpo, Frankie's Franchise Systems, 643 Lakewood Road, Waterbury, CT 06704; 203-756-2935.

Restaurant Associates Industries does business as Mama Leone, The Office, Panavino and Charlie Browns at 130 locations in CA, MA, NV, NJ, NY and Washington, D.C. The restaurants occupy spaces of 5,000 sq.ft. in downtown store fronts, freestanding facilities and strip centers. Plans call for as many as seven openings in the coming 18 months. Expansion will take place in the Northeastern region.

For more information, contact Franklin Glasgall, Restaurant Associates Industries, 545 Madison Avenue, Suite 600, New York, NY 10022; 212-888-8448, Fax 888-8534.

Munson Chocolates operates 13 locations in CT and MA. The stores, featuring chocolates and other desserts, occupy spaces of 700 sq.ft. to 2,000 sq.ft. in freestanding facilities, regional malls and specialty centers. Preferred anchors include Lord & Taylor. Plans call for as many as two openings in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of 200,000 within 10 miles earning $75,000 as the average income.

For more information, contact Robert Munson, Munson Chocolates, Route 6, Bolton, CT 06043; 860-647-8639, Fax 649-7209.

Moe's To Go Corp. trades as Moe's Italian Sandwich Shop at 17 locations in ME, MA and NH. The Italian sandwich restaurants occupy spaces of 500 sq.ft. to 2,000 sq.ft. in a variety of real estate settings. Preferred anchors include Blockbuster Video and drug stores. Plans call for five openings in the coming 18 months. Expansion will take place in New England. Preferred demographics include a population of 20,000 within five miles earning $25,000 as the average income. Leases running five years, with a five-year option, are typical and the company is franchising.

For more information, contact Mary Jane Keane, Moe's To Go Corp., 95 Court Street, Portsmouth, NH 03801; 603-431-0005, Fax 431-5845.

Metromedia Steak House, L.P. does business as Bonanza at 174 locations throughout North America and Puerto Rico. The steakhouses occupy spaces of 5,500 sq.ft. to 6,500 sq.ft. in freestanding facilities, regional malls and strip centers. Plans call for the opening of four units in the coming 18 months. Expansion will take place within the existing markets.

For more information, contact Charles Cannour, Metromedia Steak House, L.P., 12404 Park Central Drive, Dallas, TX 75251; 214-404-5000, Fax 404-5866.

Rusty Pelican Restaurant, Inc./Viacom trades as Bubba Gump Shrimp Company at two locations in CA. The casual dining restaurants, which are inspired by the movie Forrest Gump and offer a collection of memorabilia from the movie as well as a merchandise store, occupy spaces of 6,300 sq.ft. to 10,000 sq.ft. in a variety of real estate settings within tourist waterfront areas. Plans call for six openings annually. Expansion will take place nationwide.

For more information, contact Scott Barnett, Rusty Pelican Restaurant, Inc., 940 Calle Nedocio, Suite 250, San Clemente, CA 92673; 714-366-6260, Fax 366-6262.

Calido Chile Traders Systems, Inc. trades as Calido Chile Traders at 35 locations nationwide. The specialty food stores occupy spaces of 500 sq.ft. to 800 sq.ft. in downtown store fronts, regional malls and specialty centers. Preferred co-tenants include Disney Store, Warner Bros. Studio Store and bookstores. Plans call for as many as 40 openings in the coming 18 months. Expansion will take place nationwide. Preferred demographics include a population of 70,000 within 10 miles earning at least $25,000 as the average income. Leases running five years are typical and the company prefers a vanilla shell or conversion. The company is franchising and cites Chili Chompers as competition.

For more information, contact G. Michael Gent, Calido Chile Traders Systems, Inc., 5360 Merriam Drive, Merriam, KS 66203; 913-384-0019, Fax 384-0110.

Chile Chompers, Inc. trades as Chili Chompers at four locations in CA, GA and SC. The specialty food stores occupy spaces of 1,000 sq.ft. to 2,000 sq.ft. in downtown store fronts, regional malls and specialty centers. Preferred co-tenants include Saks, Rich's, Macy's and other upscale stores. Plans call for as many as 60 openings in the coming 18 months. Expansion will take place nationwide. Preferred demographics include a walking tourist population aged 30 to 55 earning $45,000 as the average income. Leases running seven years are typical. The company is franchising and cites Calido Chile Traders as competition.

For more information, contact David Barnett, Chile Chompers, PO Box 1128, Stone Mountain, GA 30086; 770-465-7111, Fax 879-0198.

Wetzels Pretzels operates 20 locations nationwide. The gourmet hand rolled pretzels shops occupy spaces in regional malls. Plans call for as many as 100 openings in the coming 18 months. Expansion will take place nationwide. Leases running 10 years are typical and the company is franchising.

For more information, contact Rick Zorehkey, c/o Zorehkey and Associates, 15250 Ventura Boulevard #812, Sherman Oaks, CA 91403; 818-990-8829, Fax 990-3702.

Gosh Enterprises, Inc. does business as Charley's Steakery at 60 locations in CT, FL, GA, OH, IL, IN, KY, MI, MO, NM, NY, NC, OK, PA, SC, TN, TX, UT, WI, VA and Canada. The restaurants, serving grilled sandwiches, salads and fries, occupy spaces of 600 sq.ft. to 2,000 sq.ft. in downtown store fronts, freestanding facilities, outlet centers and regional malls. Plans call for as many as 40 openings in the coming 18 months. Expansion will take place nationwide. Leases running 10 years are typical and the company is franchising.

For more information, contact Charley Shin, Gosh Enterprises, Inc., 6100 Busch Boulevard, Suite 100, Columbus, OH 43229; 614-847-8100, Fax 847-8110.

Hudson's Grill operates 18 locations in CA, NJ and TX. The 1950's-type nostalgic burger grill restaurants occupy spaces of 4,000 sq.ft. to 4,400 sq.ft. in freestanding facilities. Plans call for as many as six openings in the coming 18 months. Expansion will take place nationwide.

For more information, contact Thomas Sacco, Hudson's Grill, 16870 Dallas Parkway, Suite 402, Dallas, TX 75248-1928; 214-931-9237, Fax 931-1326.

Rock Bottom Restaurants, Inc. trades as Rock Bottom Brewery, Old Chicago and Denver Chop House at 46 locations nationwide. The brew pubs occupy spaces of 6,500 sq.ft. to 15,000 sq.ft. in freestanding facilities and mixed use buildings. Plans call for 14 openings in the coming 18 months. Expansion will take place nationwide.

For more information, contact Tom McCarty, Rock Bottom Restaurants, Inc., 1050 Walnut Street, Suite 402, Boulder, CO 80302; 303-417-4000.

Roaster's Corp. trades as Kenny Rodger's Roasters at 265 locations worldwide. The fast food restaurants, specializing in chicken, occupy spaces of 2,300 sq.ft. in a variety of real estate settings. Plans call for 46 openings in the coming 18 months. Expansion will take place worldwide. The company is franchising.

For more information, contact Andy Howard, Roaster's Corp., 899 West Cypress Creek Road #500, Fort Lauderdale, FL 33334; 954-938-0330, Fax 938-9568.

The Yogurteria Franchise Corp. trades as Yogurteria at seven locations nationwide. The fast food restaurants occupy spaces of 800 sq.ft. to 1,500 sq.ft. in a variety of real estate settings. Plans call for 24 openings in the coming 18 months. Expansion will take place nationwide. Preferred demographics include a population of 50,000 within three miles earning $50,000 as the average income. Leases running 10 years are typical and the company is franchising.

For more information, contact Robert Baskind, The Yogurteria Franchise Corp., 1325 FRanklin Avenue, Garden City, NY 11530; 516-742-2800, Fax 742-4499.

 

Who's Opening and Where...

Barnes & Noble (212-633-3300) plans to open a 50,000 sq.ft. bookstore through its Barnes & Noble College Bookstores, Inc. subsidiary on the campus of Yale University in New Haven, CT during Summer. The company also recently opened a 30,000 sq.ft. bookstore at Sundance Square in Fort Worth, TX and plans to open a 28,000 sq.ft. store in Clearwater, FL during May. The company is planning to open a 21,000 sq.ft. store in Columbia, SC during November and a 25,000 sq.ft. store at Tanglewood Mall in Roanoke, VA during October.

Staples, Inc. (508-370-8500) plans to open at least six stores in Indianapolis, IN this year.

Sunrise Mall in Massapequa, NY recently added a Nobody Beats The Wiz (908-602-1900) store and a Frederick's of Hollywood (213-466-5151) store to its tenant line-up.

Successories (708-953-8440) recently opened a store at The Mall at Green Hills in Nashville, TN. The store sells gift and decorative items that feature achievement-oriented thoughts and quotes. The chain consists of 54 company-owned stores and 43 franchises operating nationwide.

Federated Department Stores, Inc. (513-579-7900) plans to open a 244,000 sq.ft. Macy's department store at Raceway Mall in Freehold, NJ during Fall 1998.

Adidas America (503-797-4166) plans to open a 6,500 sq.ft. Adidas apparel and footwear store in Portland, OR during Summer.

Kohl's Corp. (414-783-5800) plans to open a department store at a former Bradlees location in Marlton, NJ during April. Next month, Kohl's will open eight stores in the Washington, D.C. market, followed in April with 11 openings in PA, DE and VA. The company operates 150 value-oriented department stores throughout WI, IL, IN, IA, KS, KY, MI, MN, MO, NE, NC, ND, SD, OH, PA and WV. Plans are to open 30 stores this year, with entrances to the Philadelphia and Pittsburgh markets..

Jewel Food Stores (708-572-5180), a division of American Stores Co., plans to re-enter the Milwaukee, WI market with a 65,910 sq.ft. Jewel-Osco store in Franklin, WI. Plans call for as many as 20 store to be developed in the coming year. Jewel originally entered the Milwaukee market in 1971 and at one time operated 13 supermarkets before exiting the area in 1980.

Krispy Kreme (910-725-2981) recently launched an expansion program to open doughnuts shops in the Midwestern and Northeastern regions. The company currently operates 120 units in 17 states, mainly in the Southern region.

Power Plus Corp. (905-479-5683) recently opened a Powerful Stuff store in Auburn, AL, the chain's 50th in the U.S. and Canada. The stores carry wireless communication products, with an emphasis on personal beepers. With 36 stores operating in FL, GA, MS, NC, TN and AL, the Canadian-based chain's goal is to be operating 1,000 stores by the year 2000.

Pudgie's Chicken, Inc. (516-222-8833) recently opened its first international restaurant, a 900 sq.ft. unit at Indonesia Plaza in Jakarta, Indonesia.

 

Convenience Stores Looking To Expand

Christy's Markets, Inc. trades as Christy's Markets at 150 locations in CT, ME, MA, NH, RI and VT. The convenience stores, which also sell gasoline, occupy spaces of 2,400 sq.ft. to 3,000 sq.ft. in freestanding facilities. Growth opportunities are sought in the existing markets.

For more information, contact Peter Andrew, Christy's Markets, Inc., 22 Christy's Drive, Brockton, MA 02401; 508-586-0474, Ext. 209, Fax 586-4787.

Store 24 Companies trades as Store 24 at 104 locations in CT, MA, NH, NY and RI. The convenience stores occupy spaces of 2,550 sq.ft. in downtown store fronts and freestanding facilities. Plans call for as many as six openings in the coming 18 months. Expansion will take place in the existing markets.

For more information, contact Ken Auclair, Store 24 Companies, 184 Riverview Avenue, Waltham, MA 02254; 617-891-8880, Ext. 206, Fax 647-0320.

Bull Brothers, Inc. does business as Nice And Easy at 28 locations in NY. The convenience stores, which also sell gasoline, occupy spaces of 2,200 sq.ft. to 3,000 sq.ft. in freestanding facilities. Growth opportunities are sought in the existing market.

For more information, contact Tony Tomaselli, Bull Brothers, Inc., Wurz Avenue, Utica, NY 13503; 315-797-7760, Fax 797-1174.

Bettiol Fuel Services, Inc. trades as Red Barrel Food Stores at 23 locations in NY. The convenience stores, which also sell gasoline, occupy spaces of 2,000 sq.ft. in freestanding facilities. Plans call for two openings in the coming 18 months. Expansion will take place in the existing market.

For more information, contact Eugene Bettiol, Jr., Bettiol Fuel Service, Inc., Route 23 Southside, Oneonta, NY 13820; 607-432-9274, Fax 432-9002.

Blueox Corporation trades as Nice N Easy at 12 locations in NY. The convenience stores occupy spaces of 2,800 sq.ft. in freestanding facilities. Growth opportunities are sought in the existing market.

For more information, contact Neil Bartel, Blueox Corporation, R.D. 2 Box 157C, Oxford, NY 13830; 607-843-7941, Ext. 313, Fax 843-8825.

CN Brown Co. does business as Big Apple Food Stores at 72 locations in ME, NH and VT. The convenience stores, which also sell gasoline, occupy spaces of 2,000 sq.ft. in freestanding facilities and strip centers. Growth opportunities are sought in the existing markets.

For more information, contact Charley Sheehan, CN Brown Co., PO Box 200, South Paris, ME 04281; 207-743-9212, Fax 743-8357.

Top's Markets, Inc. trades as Wilson Farms and B-Kwik at 104 locations in NY. The convenience stores occupy spaces of 2,800 sq.ft. to 3,500 sq.ft. in freestanding facilities and strip centers. Plans call for nine openings in the coming 18 months. Expansion will take place in the existing market.

For more information, contact Tom Willett, Top's Markets, Inc., 6363 Main Street, Williamsville, NY 14221; 716-635-5138, Fax 633-0888.

Quick Chek Food Stores, Inc. trades as Quick Chek Food Stores at 100 locations in NJ. The convenience stores occupy freestanding spaces of 4,000 sq.ft. to 5,000 sq.ft. on one acre of land and end-caps of strip centers. Plans call for eight openings annually. Expansion will take place in the existing market.

For more information, contact Robert Delia, Quick Chek Food Stores, Inc., 3 Old Highway 28, Whitehouse Station, NJ 08889; 908-534-2200, Fax 534-9216.

 

Exclusives: Leasing and Management Assignments

Pliskin Realty & Development, Inc. (516-997-0100) has been appointed as the exclusive broker for Independence Plaza, a 250,000 sq.ft. project in Selden, Long Island, NY with Home Depot and King Kullen serving as anchors; Selden Plaza, a 200,000 sq.ft. center also located in Long Island, anchored by TJ Maxx, Office Max and Waldbaum's; South Bay Commons, a 135,000 sq.ft. project in West Islip, NY with Bob's Stores and E&B Marine as anchors; Plaza 200, a 157,000 sq.ft. strip center in Carle Place, NY with Seaman's Furniture, Fabric Bonanza and Petco; Sunrise Plaza, a 250,000 sq.ft. project in Lindenhurst, Long Island, NY, anchored by King Kullen, Sears Hardware and Genovese Drugs.

DJM Assets (212-922-1200) has been retained by Hit or Miss to dispose of a number of stores throughout the nation; The Clothestime, Inc. to dispose of stores in CA, AZ, IL, MI, FL, GA and TX; Leejay's Bed & Bath Stores to dispose of locations in MA, PA, ME, NY and RI; and Giant Carpet to dispose of stores in NY, NJ and CT.

The Goldstein Group (201-703-9700), as the exclusive agent for General Nutrition Centers, completed seven leases at the following locations in NJ: Summit Plaza in Hackensack, Blue Star Shopping Center in Watchung, Mid State Mall in East Brunswick, Piscataway Towne Center in Piscataway, Treasure Island Shopping Center in Shrewsbury, The Marketplace in Matawan and Morris Plains Shopping Center in Morris Plains.

Keen Realty Consultants, Inc. (516-482-2704) has been appointed by Petrie Retail, Inc. to auction 70 store leases. The stores range in size from 4,000 sq.ft. to 10,000 sq.ft. and are located nationwide, as well as in Puerto Rico. Locations include downtown store fronts, malls and strip centers. The date and place for the auction is yet to be announced.

Michael Antkies Real Estate (203-438-9525), as the exclusive broker for Yale University Real Estate, finalized a lease with Barnes & Noble College Bookstore to take a 50,000 sq.ft. store at the Broadway at York Square in New Haven, CT.

 

Space Place

Alabama

Mobile- Skyline Plaza Shopping Center is anchored by Delchamps, Old Time Pottery, K&B Drugs, Mae's Fabrics and Blimpie. The project has a 5,400 sq.ft. space adjacent to Delchamps available for lease.

For details, contact Todd Snyder of Trademark Properties at (904-434-1173), Fax (434-0656).

Connecticut

Naugatuck- A 6,720 sq.ft. space is available for lease. In Norwalk- A 5,187 sq.ft. space is available for lease. In Plainville- A 7,200 sq.ft. space is available for lease.

For details, contact Jim Matthews of Prime Locations at (972-991-7000).

New Haven- Broadway at York Square is anchored by Barnes & Noble College Bookstores. The project has spaces from 850 sq.ft. to 27,000 sq.ft. available for lease.

For details, contact Michael Antkies Real Estate at (203-438-9525), Fax (438-7570).

North Haven- Waldbaums Shopping Center is anchored by Waldbaums, CVS and Fashion Bug. The 120,000 sq.ft. project has spaces available for lease. In Orange- Shaw's Plaza is anchored by Shaw's Supermarket and T.J. Maxx. The 162,000 sq.ft. project has spaces available for lease.

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

Norwalk- Factory Outlets at Norwalk is anchored by Bed Bath & Beyond, Carter's Childrenswear, Famous Footwear, L'eggs, Haines, Bali and Playtex. The 100,000 sq.ft. project has spaces from 2,000 sq.ft. to 20,000 sq.ft. available for lease. In Orange- Orange Promenade is anchored by Sears, Service Merchandise, Walgreens, Radio Shack and Chuck E. Cheese. The 250,000 sq.ft. project has spaces from 1,310 sq.ft. to 5,800 sq.ft. available for lease.

For details, contact Michael Cohen of DLC Management Corp. at (914-592-1255).

Florida

Pensacola- Brentwood Shopping Center is anchored by Big Lots, K&B Drugs and Burger King. The project has a 1,825 sq.ft. end cap space available for lease.

For details, contact Todd Snyder of Trademark Properties at (904-434-1173), Fax (434-0656).

Massachusetts

Borune- A 1,600 sq.ft. space is available for lease. In Holyoke- Spaces from 2,522 sq.ft. to 34,104 sq.ft. area available for lease.

For details, contact A&P at (800-927-7368).

Michigan

Bay City- Majestic Square is anchored by Kroger, JoAnne Fabrics, Hollywood Video and Dollar Daze. The project has a 32,000 sq.ft. end-cap position, which is expandable, available for lease.

For details, contact Bob Huhem or Stuart Fagen of Majestic Property Affiliates, Inc. at (516-466-3100).

New Jersey

Bayonne- Space is available for lease at a new A&P Shopping Center on Avenue A between North Street and West 5th Street. In East Brunswick- Space is available for lease at 18 Central Shopping Center which is anchored by The Gap, Kids 'R Us and OfficeMax. Edgewater- Edgewater Commons is anchored by Caldor, Pathmark, T.J. Maxx, Barnes & Noble, Modell's, Mandees, Staples, Old Navy and Bed Bath & Beyond. The 430,000 sq.ft. project has spaces available for lease. Also in Edgewater- Edgewater Phase II, which is adjacent to Edgewater Commons, is anchored by a major theater complex. Spaces are available for lease. In Hawthorn- Rag Shop Outlet Center is anchored by Rag Shop, 14 Plus, Rainbow Stores, Payless Shoes and CVS. The project has 12,000 sq.ft. available for lease. In North Bergen- Tonnelle Plaza is anchored by ShopRite, Drug Emporium, Mandees, Rag Shop, Petrie and Chuck E. Cheese. The project has spaces from 2,200 sq.ft. to 23,000 sq.ft. available for lease. In Paramus- A 14,000 sq.ft. space plus a 7,500 sq.ft. selling mezzanine are available for lease fronting Route 17. In Pleasantville- Cardiff Plaza Shopping Center is anchored by Ross, Pathmark, Rickels and Bradlees. The project has spaces from 4,010 sq.ft. to 15,000 sq.ft. available for lease. In Riverdale- Up to 26,000 sq.ft. is available for lease at a new Home Depot-anchored shopping center fronting Route 23. In Secaucus- Mall at Mill Creek is anchored by Caldor, Edwards, Herman's, Mandees and Foot Locker. The project has spaces from 2,700 sq.ft. to 6,000 sq.ft. available for lease. Also in Secaucus- Up to 7,800 sq.ft. of space is available for lease across from Mall at Mill Creek. In Springfield- An 8,000 sq.ft. space is available for sublease. The space is located between Pier 1 and Kinkos.

For details, contact Welco Realty, Inc. at (914-576-7500), Fax (576-7596).

Blairstown- Spaces from 1,000 sq.ft. to 30,000 sq.ft. are available for lease at a shopping center located at the intersection of Route 94 and Lambert Road. In Cape May Court House- Spaces from 1,198 sq.ft. to 15,000 sq.ft. are available for lease at a shopping center located at the intersection of Route 9 and Dennis Road. In Hackettstown- Spaces from 1,000 sq.ft. to 5,200 sq.ft. are available for lease at a shopping center located at the intersection of Route 46 and East Avenue. In Mahwah- Spaces from 1,300 sq.ft. to 12,000 sq.ft. are available for lease at a shopping center fronting Franklin Turnpike.

For details, contact A&P at (800-927-7368).

Brick Township- An 88,739 sq.ft. former Rickel Home Center is available for lease. The site is located at the intersection of Route 70 and Brick Boulevard. In Cherry Hill- A 46,887 sq.ft. former Rickel Home Center is available for lease on Church Road, across from Cherry Hill Mall. In Lawnside- A 93,599 sq.ft. former Rickel Home Center is available for lease on White Horse Pike adjacent to Home Depot. In West Berlin- A 60,448 sq.ft. former Rickel Home Center is available for lease at the intersection of Route 73 and Walker Avenue.

For details, contact Consolidated Affiliates, Inc. at (908-767-9333).

Chatham- Chatham Mall has spaces of 800 sq.ft. and 1,600 sq.ft. available for lease. In Chester- Chester Mall is anchored by Rite Aid. The project has spaces of 1,000 sq.ft., 6,500 sq.ft. and 10,000 sq.ft. available for lease. In East Hanover- A 1,100 sq.ft. space is available for lease at Ridgedale Mini Mall. In Hackettstown- 80 Main Plaza is anchored by ShopRite Liquor/Convenience Store. The project has spaces from 1,200 sq.ft. to 12,000 sq.ft. available for lease. The site fronts Route 46.

For details, contact Complete Property Management at (908-879-5106).

Denville- The 63,000 sq.ft. Denville Commons Shopping Center on Route 10 has spaces from 1,620 sq.ft. to 5,625 sq.ft. available for lease. In Freehold- Raintree Towne Center is anchored by SuperFoodtown, CVS and Spirits Unlimited. The 104,000 sq.ft. project has several outparcels available for lease. The site fronts Route 537. In Mansfield- Mansfield Plaza Shopping Center is anchored by ShopRite and CVS. A movie theater is proposed for the project. The 93,000 sq.ft. center has spaces available for lease and fronts Route 57. In Whippany- Pine Plaza Shopping Center is anchored by Super Foodtown and Revco. The 112,000 sq.ft. project has spaces available for lease. The site fronts Route 10.

For details, contact Professional Consortium at (201-402-0001), Fax (402-9395).

East Hanover- Conran's Plaza is anchored by Rx Drugs and Marty's Shoes. The 98,869 sq.ft. project has spaces available for lease. The site fronts Route 10. In Marlton- Tri Towne Plaza is anchored by Kmart and SuperFresh. The 176,519 sq.ft. project has spaces available for lease. In Old Bridge- Spaces are available for lease at A&P Shopping Center. In Vineland- Kmart Shopping Center is anchored by Kmart. The 90,000 sq.ft. project has spaces available for lease in its 100,000 sq.ft. expansion area. In Williamstown- Williamstown Shopping Center is anchored by D.E. Jones and CVS. The 72,000 sq.ft. project has an anchor position available for lease.

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

Edison- Edison Crossroads is anchored by Edwards Super Food Stores, OfficeMax, Applebee's and McDonald's. The 250,000 sq.ft. project has 75,000 sq.ft., which is dividable, available for lease. Demographics include a five-mile population of 270,000 earning $55,000 as the median household income. The site fronts Route 1 which generates a daily traffic count of 77,000 vehicles. The project is under construction with a delivery date of late 1997 expected.

For details, contact Ed Jaten of ARC Properties, Inc. at (201-345-1900), Fax (345-3291).

Edison- An 88,000 sq.ft. space is available for lease.

For details, contact Northwest Atlantic at (914-328-2222).

Elmwood Park- Elmwood Park Shopping Center is anchored by Grand Union Supermarket, Blockbuster Video, Walgreens, Sizes Unlimited and Payless ShoeSource. The 117,000 sq.ft. project has spaces available for lease.

For details, contact Acadia Management Company at (800-227-5570), Fax (516-767-8834).

Freehold- A 95,446 sq.ft. former Rickel Home Center is available for lease. The site is located adjacent to a high volume Pathmark supermarket. In Ocean Township- A 39,872 sq.ft. former Rickel Home Center is available for lease at Middlebrook Shopping Center. In Union- A 142,835 sq.ft. former Rickel Home Center is available for lease at Union Plaza Shopping Center.

For details, contact The Levey Companies, Inc. at (201-533-1100), Fax (533-1288).

Hasbrouck Heights- Spaces of 5,000 sq.ft. to 10,000 sq.ft. or 25,000 sq.ft. are available for lease at a retail project. The site fronts Route 17 North and has a five-mile population of 517,000.

For details, contact Bill Klein of Edward Cantor Affiliated Interests at (908-925-6650).

Middlesex- Middlesex Plaza has spaces up to 2,985 sq.ft. available for lease. The site fronts Route 28.

For details, contact Pliskin Realty & Development, Inc. at (516-997-0100).

New York

Attica- A 6,180 sq.ft. space is available for lease. In Bronx- Spaces of 7,500 sq.ft. and 15,000 sq.ft. are available for lease. In Brooklyn- A 2,240 sq.ft. space is available for lease. In Carle Place- An 8,400 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. area available for lease. In Patchogue- A 6,000 sq.ft. space is available for lease. In Pulaski- A 7,195 sq.ft. space is available for lease.

For details, contact Jim Matthews of Prime Locations at (972-991-7000).

Auburn- Fingerlake Mall is anchored by J.C. Penney, Sears, Peebles and Hoyts Cinemas. The project has spaces from 100 sq.ft. to 71,000 sq.ft., including a vacant Kmart, available for lease.

For details, contact Armand Dinardo of First Union Management at (216-781-4030).

Brewster- Brewster Square is anchored by Mailboxes, a deli, a pizza shop, a karate studio and medical offices. The 30,000 sq.ft. project has spaces from 1,100 sq.ft. to 4,400 sq.ft. available for lease. In Nanuet- Mall at 59 is anchored by Seamans Furniture. The 57,000 sq.ft. project has spaces from 5,000 sq.ft. to 27,000 sq.ft. available for lease. The site fronts Route 59. In Wappingers Falls- Imperial Plaza is anchored by Home Depot, Grand Union, Rite Aid and Gold's Gym. The 220,000 sq.ft. project has spaces from 1,700 sq.ft. to 5,000 sq.ft. as well as a pad site available for lease. The site fronts Route 9. In West Islip- Grand Union Plaza is anchored by Grand Union Supermarket and a movie theater. The 70,000 sq.ft. project has a 1,500 sq.ft. space available for lease. In Woodbury- Woodbury Junction Plaza is anchored by a dry cleaners, a photo store, a Chinese restaurant, a karate studio and a childrens party store. The 21,000 sq.ft. project has spaces from 1,350 sq.ft. to 8,000 sq.ft. available for lease.

For details, contact Michael Cohen of DLC Management Corp. at (914-592-1255).

Bronx- Bruckner Plaza is anchored by Caldor, Toys 'R Us and Modell's Sporting Goods. The project has spaces from 2,000 sq.ft. to 10,000 sq.ft. available for lease. In Brooklyn- Up to 21,000 sq.ft. is available for lease at the intersection of Hoyt and Livington Street. The site is directly across from Macy's. In Staten Island- The 160,000 sq.ft. Staten Island Center on Forest Avenue has spaces from 10,000 sq.ft. to 100,000 sq.ft. available for lease. Also in Staten Island- ShopRite Shopping Center is anchored by ShopRite, Mandees, Rockbottom, Dress Barn and Payless Shoes. The project has spaces from 3,200 sq.ft. to 8,000 sq.ft. available for lease.

For details, contact Welco Realty, Inc. at (914-576-7500), Fax (576-7596).

Brooklyn- Starrett City Shopping Center is anchored by Waldbaum Supermarket, Thriftway Drug Store, Blockbuster Video, Radio Shack, Payless Shoes and Carvel. The project has spaces from 2,712 sq.ft. to 3,350 sq.ft. available for lease. The site is adjacent to three public schools. In New York- A 5,000 sq.ft. street level space and a 12,500 sq.ft. mezzanine space is available for lease at Broadway at 34th Street. The site has 200 feet of frontage on 34th Street and 65 feet of frontage on Broadway. The site is located near The Gap, Disney Store, HMV, Conway, Macy's, Sterns, Kmart, Toys 'R Us, Kids 'R Us, Daffy's, 9 & Co., Express and Limited. The site is also adjacent to the Empire State Building and Manhattan Mall.

For details, contact Craig Slosberg of Grenadier Realty Corp. at (718-240-4175).

Brooklyn- Whitman Plaza is anchored by Liberty Travel, Funcoland and Hit or Miss. The project has up to 6,500 sq.ft., which is divisible, available for lease. In Carle Place- Plaza 200 is anchored by Seaman's Furniture, Fabric Bonanza, Petco, Corning, Van Heusen and Marty's Shoes. The 157,000 sq.ft. project has spaces up to 8,500 sq.ft. available for lease. The site is a 1/4 mile from Roosevelt Field Mall. In Commack- Commack Centre has spaces up to 6,000 sq.ft. available for lease. The site fronts Jericho Turnpike. In Lindenhurst- Sunrise Plaza is anchored by King Kullen, Sears Hardware, Genovese Drugs, Frankels and Outback Steakhouse. The 250,000 sq.ft. project has spaces up to 25,000 sq.ft. available for lease. In Selden- Independence Plaza is anchored by Home Depot, King Kullen, CVS, Blockbuster Video and Old Navy. The 250,000 sq.ft. project has spaces up to 6,000 sq.ft. available for lease. Also in Selden- Selden Plaza is anchored by Waldbaum's, T.J. Maxx, OfficeMax, CVS and Michael's Crafts. The 200,000 sq.ft. project has spaces up to 7,000 sq.ft. as well as a pad site available for lease. In West Islip- South Bay Commons is anchored by Bob's Stores, E&B Marine and McDonald's. The 135,000 sq.ft. project has spaces up to 65,000 sq.ft. as well as an outparcel available for lease.

For details, contact Pliskin Realty & Development, Inc. at (516-997-0100).

Deer Park- Caldor Plaza is anchored by Caldor and Grand Union. The project has an outlot available for lease. In East Islip- East Islip Center is anchored by Stop & Shop, Marshalls and Staples. The project has spaces available for lease. In Henrietta- Rochester Center is anchored by Home Depot. The 250,000 sq.ft. project has spaces available for lease. In Lake Ronkonkoma- Lake Shore Plaza is anchored by Waldbaums, Genovese Drugs and Sears Hardware. The 93,000 sq.ft. project has space available for lease in its 120,000 sq.ft. expansion area. In Rochester- Depot Plaza is anchored by Kmart, Petrie and Payless Shoes. The 181,146 sq.ft. project has spaces available for lease. In Wellsville- Ames Big M Plaza is anchored by Ames. The 90,000 sq.ft. project has spaces available for lease.

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

Greenburgh- Crossroads Shopping Plaza is anchored by Barnes & Noble, Modell's, Caldor, Waldbaums, Sizes Unlimited, Pier 1, Coconuts, Radio Shack and Dress Barn. The 300,000 sq.ft. project has spaces available for lease. In Port Washington- Port Plaza Shopping Center is anchored by Genovese Drugs, Blockbuster Video, Party Sensation, Minuteman Press and Radio Shack. The 39,000 sq.ft. project has spaces available for lease. Also in Port Washington- Soundview Marketplace is anchored by King Kullen, Pergament Home Center, Cineplex Odeon, Blockbuster Video, GNC, Payless Shoes, Kay Bee Toys and Boston Chicken. The 180,000 sq.ft. project has spaces available for lease. In Smithtown- Smithtown Shopping Center is anchored by Walgreens, Payless Shoes, GNC, Lucille Roberts, Sleepy's and Rainbow Shops. The 85,779 sq.ft. project has spaces available for lease.

For details, contact Acadia Management Co. at (800-227-5570).

Greenlawn- Spaces from 1,200 sq.ft. to 20,000 sq.ft. are available for lease at a shopping center fronting Pulaski Avenue. In Lindenhurst- Spaces from 571 sq.ft. to 1,172 sq.ft. are available for lease at a shopping center fronting East Hoffman Avenue. In Long Beach- Spaces from 1,500 sq.ft. to 4,800 sq.ft. are available for lease at a shopping center fronting East Park Avenue. In Southampton- A 1,875 sq.ft. space is available for lease at a shopping center fronting North Main Street and Jagger Lane. In Whitestone- Spaces from 1,258 sq.ft. to 1,579 sq.ft. are available for lease at a shopping center fronting 10th Avenue and 154th Street.

For details, contact A&P at (800-927-7368).

Middletown- A 65,068 sq.ft. former Rickel Home Center is available for lease.

For details, contact Consolidated Affiliates, Inc. at (908-767-9333), Fax (767-9585).

Monsey- A 69,157 sq.ft. former Rickel Home Center is available for lease.

For details, contact The Levey Co. at (201-533-1100), Fax (533-1288).

New York- A 2,000 sq.ft. ground floor space and a 4,000 sq.ft. selling basement space (total= 6,000 sq.ft.) are available for lease at 79 Fifth Avenue. Retailers in the area include Emporio Armani, Gap, Joan & David, Barnes & Noble, Banana Republic, J. Crew, Nine West and Pier 1 Imports.

For details, contact Sylvia Haddad of The Lansco Corp. at (212-376-5555, Ext. 302).

New York- A 15,459 sq.ft. space (9,372 sq.ft. ground level, 6,078 sq.ft. lower level) is available for lease at 1460 Broadway. Also in New York- An 8,681 sq.ft. space (4,621 sq.ft. ground level, 4,060 sq.ft. concourse) is available for lease at 110 West 52nd Street. Also in New York- A 16,892 sq.ft. space (7,046 sq.ft. ground level, 9,836 sq.ft. concourse) is available for lease at 1271 Avenue of the Americas. Also in New York- A 31,000 sq.ft. space (8,700 sq.ft. ground level, 7,600 sq.ft. mezzanine and 15,000 sq.ft. lower level) is available for lease at 535 Fifth Avenue. Also in New York- An 11,100 sq.ft. space (1,145 sq.ft. ground level, 7,214 sq.ft. lower level and 2,741 sq.ft. second level) is available for lease at 1011 Third Avenue. Also in New York- A 12,200 sq.ft. space (9,200 sq.ft. ground level, 3,000 sq.ft. mezzanine) is available for lease at 205 Montague Street. This space may be combined with a 12,000 sq.ft. selling basement.

For details, contact Frank Terzulli or Jeffrey Winick of Winick Realty Group at (212-949-6868), Fax (949-8832).

Westbury- A freestanding 58,600 sq.ft. building is available for lease on 5.2 acres of land. The site is located adjacent to Syms.

For details, contact Alvin Neuman of Pergament Investments, Inc. at (516-484-8800).

West Seneca- Wegmans Plaza is anchored by Wegmans Foodmarket. The project has spaces up to 65,000 sq.ft. available for lease. Demographics include a three-mile population of 101,645 and a five-mile population of 233,326.

For details, contact Kurt Ziemendorf of Wegmans Enterprises at (716-464-4764).

Woodbury- Woodbury Village is anchored by Edwards Supermarket. The 94,000 sq.ft. project has spaces of 12,500 sq.ft., 13,253 sq.ft. and 16,800 sq.ft. available for lease. Demographics include a trade area population of 191,266 earning $98,617 as the average household income.

For details, contact Staller Associates, Inc. at (516-234-7711).

Pennsylvania

Abington- Atrium Mall is a 179,000 sq.ft., mini mall. Anchors include TJ Maxx, Circuit City Superstore, Super Fresh, Hit or Miss, Old Country Buffet and Payless Shoesource. Space is available for lease.

For more information, contact Acadia Management Company at (800-227-5570).

Bethlehem- Kmart Shopping Center encompasses 166,609 sq.ft. and anchors include Kmart, Thrift Drug and Piece Goods. Space is available for lease. In Walnut Port- Walnut Port Shopping Center is anchored by SuperFresh and Fay's Drugs. The center has 28,000 sq.ft. available.

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

Dumore- O'Neill Plaza is anchored by Price Chopper, Parts America, CVS Drugs and Radio Shack. The project is visible from I-84, 81, 380 and Lackawanna Expressway. A freestanding building of 61,000 sq.ft. is available for lease and can be divided.

For details, contact Bob Huhem or Stuart Fagen of Majestic Property Affiliates, Inc. at (516-466-3100).

Harrisburg- Strawberry Square sits adjacent to the Harrisburg Hilton and Towers complex and next to the Capital Complex. The downtown specialty center has space available for lease.

For details, contact Ron Varano at (717-236-5700).

Philadelphia- On South Street in Downtown Philadelphia, a 1,600 sq.ft. storefront, located next to Gap and Gap Kids is for lease or sale. On Chestnut Street in downtown, spaces of 6,000 sq.ft., which can be combined for up to 12,000 sq.ft., and 2,000 sq.ft. are available for lease. In Northeast Philadelphia- Bells Corner Shopping Center is anchored by Staples, Rite Aid and Bells Market. The project has 1,500 sq.ft., 2,600 sq.ft. and an outparcel available. Also located in Northeast Philadelphia- Aramingo Plaza Shopping Center has Pathmarket, Acme, Pizza Hut, Taco Bell, Dunkin Donuts, Toys 'R Us, Modells, Kmart, Fashion Bug and Boston Chicken operating in the immediate area. The project has a 40,000 sq.ft. former Rickels, that can be expanded to 100,000 sq.ft. available.

For details, contact Howard Winig of Howard Winig Realty Associates, Inc. at (215-627-3700).

Philadelphia- On Bustleton Avenue and County Line, a 5,700 sq.ft. pad site is available for lease.

For details, contact A&P at (800-927-7368).

 

Sources of Financing

Liberty Mortgage Acceptance Corp. (916-568-0100) recently placed permanent mortgage financing on Bay Plaza Kmart in Bronx, NY for $10.7 million and on Super Kmart in Port Huron, MI for $8.7 million. The company is actively lending on shopping centers, apartments, office, hotels, health care and industrial sites. Typical loan parameters include non-recourse, assumable, fixed rate, with 7, 10 or 15-year terms, and loans range from $2 million to $100 million. Liberty will consider properties nationwide.

Westminster Realty Company (561-391-1737) arranged a fixed rate mortgage for two Bally Scandinavian Health Spa facilities in Boca Raton and West Palm Beach, FL. The properties total 80,000 sq.ft. and the loan amount was $6.8 million.

 

The following are reviews on computer products designed to enhance your market research and leasing capabilities. The staff of The Dealmakers actually used these products. The concept behind Creole to offer instantaneous, up to date information on 40,000 sites is commendable, however geographic limitations to just NY, NJ and CT, in addition to beta testing and price testing will show its true viability. Directory On Computer seemed helpful to mall oriented companies. Shopping Center on Disk provides information on 35,000 retail projects, however some information is out of date. Revest can help you determine how much money you make over the long run by figuring deals at varying rents, TI and other incentives. Tenant Search offers a good source for leads to lease retail space.

Creole, (Commercial Real Estate On-Line) a soon to be released reference source, offers information on retail sites in NY, NJ and CT via paid access over the Internet. Upon its rollÄout the real-time database should list approximately 40,000 retail sites, with an aerial photo, photo of the site's front, tax map, demographics, traffic count, map showing area competition, radius map, owner contact information, site plan, notations on available space and a county map. The search engines allow you to search by tenant, property, region, state, county, retail corridor and type of tenants or property. All the information can be printed. System requirements include Windows 95 or Windows NT, and the vendor suggests using AT&T as your carrier. A yet to be announced price tag covers one password and unlimited access. The technology behind this database is by far the most powerful and user friendly. However, it is of concern that the company will be able to compile accurate information on 40,000 properties. Some compiling will be sourced out to brokers, while updating will take place internally, and the company expects to update each property monthly.

For more information, contact Stephen Oder, Creole, 32-40 North Dean St., Englewood, NJ 07631; 201-567-9100.

Directory On Computer, the computerized database of Directory of Major Malls on CD-ROM, lists over 3,000 malls and strip centers with GLAs exceeding 250,000 sq.ft. throughout the U.S. and Canada. The information provides the project's name, GLA, tenants by use, nearest competition, nearest major city, demographics, facility profile, owner/developer and leasing contact, leasing plans, 43 regional maps and a notepad. All the information can be printed in reports or as mailing labels. Semiannual updates are included in the price of $999 for the nation, with demographics and geocodes for $1,199 additional. DOC is also available by regions. The search engines allow you to search by center or tenant name, by type of tenants sought for available space, demographics including average household income, county, in addition to center and tenant name. A hard copy of DOC is available as Directory of Major Malls. A demo version is available upon request, just call the software producer.

For more information, contact Tama Shor, Directory On Computer, PO Box 1708, Spring Valley, NY 10977; 914-426-0040.

National Research Bureau's Shopping Centers on CD-ROM 1997 edition is available. The latest version lists over 35,000 shopping centers, with projects as small as a threeÄtenant facility up to super regional malls. The software allows you to search by tenant, type of tenant, project name, type of project, GLA, region, year opened and construction status. Reports and mailings labels can be printed. The 1997 exportable version allows you to export the information to ASCII or Dbase files. Another added feature is a notation on the number of occurrences a particular store has in the system, for example Kmart has over 1,000 occurrences, you search for Kmart either nationwide or within a region, county, city or state and the search will pull up every center that has Kmart as a tenant within your search criteria. Then further notes will tell you the center's contact, opening date, GLA, co-tenants, psf sales of the center and expansion plans. The search engines also include type of center (i.e., factory outlet, auto mall, etc.) A notepad feature allows you to make unlimited notes and your notes in the 1996 edition will automatically be overlaid on the 1997 edition upon installation. The cost of the national edition on CD-ROM is $1,795 and hard copy format is also available at the cost of $765.

For more information, contact Nancy Veatch, National Research Bureau, 150 N. Wacker Dr., Suite 2222, Chicago, IL 60606; 1-800-456-4555.

Revest Power Lease is a software program designed to show comparisons of income and expense variables of a proposed lease. You plug in what you want to obtain in rent, TI, escalations, free rent, etc., then plug in the numbers you are negotiating with and see the big picture on how each element affects the bottom line over the term of the lease or at your chosen time periods. Every cost element in a typical lease is analyzed in the program, including brokerage commissions, pass throughs, management fees, renewals and options, and shows present values, finance rates and bond yields. Other features of the program include a construction scheduling checklist and, for tenants, a market survey and market data checklist. Leases from Revest can be emailed to other Revest users, thereby eliminating the time and expense of either overnight and faxing numerous pages. The software can run in Windows 3.1 or higher and Windows 95 operating systems. The introductory price is $695.

For more information, contact Dick Oliver, Revest Financial Software, Inc. 6336 Greenwich Dr., Suite E, San Diego, CA 92122; 1-800-377-4660.

Tenant Search, produced by The Dealmakers, lists over 4,000 retailers in its national edition and nearly 2,000 in regional editions for the eastern, southern, midwestern and western states. Each listing provides the parent company name, all trade names, real estate contact, address, phone and fax numbers, type of use, number of stores operating in the chain, states of existing operations, typical store size, regions of existing operations, states and regions of interest for future stores, projection of store openings in the next 18 months, and in most cases a description of the merchandise, customer profile, demographic criteria, preferred co-tenants and the typical lease term. Search engines allow you to search by contact, parent company, trade name, type of use, store size, states and regions of existing operations and states or regions of areas being scouted for future stores. The software allows you to add your own list of tenants, print form letters, mailing labels and reports. You can use DOS, Windows 3.1 or Windows 95 operating systems. Also, custom formats in ACT, Excell, Dbase and Lotus are available. Unlike most chain store directories, Tenant Search is produced on demand, meaning it is updated daily and all information has been updated within the last six months. The cost is $469 for a national edition and $249 for a regional edition. Tenant Search is also available in hard copy. To receive a demo version, just call Tenant Search.

For more information, contact Connie Harrison, Tenant Search, 100 Youngs Road, Mercerville, NJ 08619; 1-800-732-5856.

Waldbaum's; South Bay Commo NY with Bob's Stores and E&B Marine as anchors; Plaza 200, a 157,000 sq.ft. strip center in Carle Place, NY with Seaman's Furniture, Fabric Bonanza and Petco; Sunrise Plaza, a 250,000 sq.ft. project in Lindenhurs