Issue Number 16 for the week of May 2, 1997
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The Dealmakers Issue Number 16 for the week of May 2, 1997.

Card & Gift Stores Expanding Nationwide

Cards For Less trades as 1/2 Off Cards at five locations in the New York City metropolitan area. The stores, selling cards and gifts, occupy spaces of 2,000 sq.ft. in downtown store fronts and strip centers. Plans call for six openings in the coming 18 months. Expansion will take place in CT, NJ and NY. Leases running 10 years are typical.

For more information, contact Stuart Kramer, Cards For Less, c/o First Development Corporation, 1328 Motor Parkway, Hauppauge, NY 11788; 516-234-3200, Fax 234-3695.

The Norman Group, Inc. trades as Norman's Hallmark at 12 locations in NJ and PA. The Hallmark Gold Crown stores occupy spaces of 4,000 sq.ft. to 6,000 sq.ft. in regional malls and strip centers. Plans call for two openings in the coming 18 months. Expansion will take place in the existing markets. Leases running 10 to 15 years are typical.

For more information, contact Larry Garfield, The Norman Group, Inc., Route 1 at Texas Avenue, Lawrenceville, NJ 08648; 609-882-2800, Fax 883-5539.

Lee Ann, Inc. does business as Eve's Cards & Gifts at seven locations in GA. The card and gift stores occupy spaces of 3,000 sq.ft. in strip centers. Growth opportunities are sought in the existing market with expansion into NC and TN possible.

For more information, contact Gary Koch, Lee Ann, Inc., 105 Commercial Avenue, Carrollton, GA 30117-2448.

Thoughtfulness, Inc. trades as Jay's Hallmark, House of Cards, Lynne's Hallmark, Amy's Hallmark and Factory Glass Outlet at 17 locations in KY, OH, PA and WV. The stores, selling greeting cards and gifts, occupy spaces of 3,000 sq.ft. in regional malls and strip centers. Preferred anchors include department stores and supermarkets. Plans call for one opening in the coming 18 months. Expansion will take place within the existing market. Preferred demographics include a population of 50,000 within five miles earning $25,000 as the average income. Leases running 10 years are typical.

For more information, contact Thomas Rogers, Thoughtfulness, Inc., 319 Main Street, Granville, WV 26534; 304-598-0212, Fax 598-0220.

CMH Enterprises, Inc. trades as Brook's Hallmark at six locations in OH. The stores, selling cards and gifts, occupy spaces of 5,000 sq.ft. in strip centers. Preferred anchors include supermarkets. Plans call for one opening in the coming 18 months. Expansion will take place in the existing market. Leases running five years are typical.

For more information, contact Carol Hosbrook, CMH Enterprises, INc., 1305 Wagner Avenue, Greenville, OH 45331-2703; 937-548-6446, Fax 548-6446.

 

New Construction

Vestar Development Co. plans to break ground during Spring on Long Beach Town Center, a $70 million, 920,000 sq.ft. retail/entertainment complex on the site of the former Long Beach Navy Hospital in Long Beach, CA. The 82-acre site will be anchored by a 26-screen Edwards theater complex; a 500-seat outdoor and indoor dining area, video arcades and large retail outlets. An additional 20-acre parcel may be developed in a second phase. If all goes as planned, the project will begin opening during Spring 1998.

For more information, contact Vestar Development Co. at (602-866-0900).

Louis Straus & Associates plans to convert a 30,000 sq.ft. former Lucky Supermarket into retail spaces in Palm Desert, CA. The site is available for a single user or multiple users, with a minimum of 1,000 sq.ft. The project will be renamed El Paseo Walk. The site is located across from The Gardens on El Paseo, a 207,000 sq.ft. open-air center anchored by Saks Fifth Avenue.

For more information, contact Louis Straus Jr. of Louis Straus & Associates at (760-327-1159).

The Sembler Company recently completed a 69,652 sq.ft. shopping center in Acworth, GA. The project is anchored by a 37,912 sq.ft. Publix Supermarket, a 9,240 sq.ft. Revco Drug Store and a 6,500 sq.ft. Blockbuster Video store. An additional 15,000 sq.ft. of retail space is available for lease as well as two outparcels at the project. The company also announces the grand opening of Lakewood Plaza Shopping Center in Hernando County, FL. The 185,500 sq.ft. project is anchored by Publix Supermarkets and Target. Steak N Shake recently opened a restaurant on one of the outparcels. Phase III construction, which was recently completed, is anchored by JoAnn Fabrics, Payless Shoes and Dollar Tree.

For more information, contact Craig Sher of The Sembler Company at (813-384-6000).

 

Mergers & Acquisitions

Wild Oats Markets, Inc. (303-440-5220) recently acquired two stores trading as Squash Blossom Market in Memphis, TN. The acquisition brings the total number of stores operated by Wild Oats to 47 in 10 states and British Columbia, Canada.

Universal International, Inc. (612-533-1169) recently entered into an agreement to purchase the leases and inventory of 90 retail locations and the warehouse of Perry Brothers, Inc. All but two of the stores are located in TX. The purchase price of $700,000 is payable over seven years. In addition, Universal issued Perry's 450,000 shares of common stock and is assuming or retiring most of Perry's liabilities. Perry Brothers was founded in 1914 as a "5 and 10 cent variety store" concept and at its peak operated 165 stores. Universal plans to convert the acquired stores into its Only Deals concept.

Fresh Choice, Inc. (408-450-0178) recently reached an agreement with Restaurants Unlimited to purchase all of the assets related to Restaurants Unlimited Zoopa restaurants in Bellevue, Tacoma and Tukwila, WA. The three units will continue to operate under the Zoopa name. The acquisition will give Fresh Choice 51 restaurants in CA, TX and WA.

Safeway, Inc. (510-467-3000) recently completed its acquisition of The Vons Companies, Inc., which has become a wholly-owned subsidiary of Safeway. The acquisition makes Safeway the second largest food and drug retailer in North America based on sales and the company now operates 1,369 stores in the U.S. and Canada.

Sterling Vision, Inc. (516-887-2100) recently completed its acquisition of Singer Specs, Inc.'s 30 stores in DE, NJ, PA and VA. The acquisition gives Sterling Vision 350 locations.

VF Corporation (212-782-0276) and Maidenform Worldwide, Inc. (212-484-7782) have mutually agreed to terminate their merger discussions.

CVS (401-765-1500) is expecting its $2.8 billion acquisition of Revco to be finalized this month, however, the company may have to sell some of its Mid-Atlantic stores to address the Federal Trade Commission's anti-competitive concerns. The merger will give CVS more than 4,000 stores and create the nation's largest drugstore chain in terms of store locations. A final number on how many stores and which stores to be sold has yet to be determined.

Staples (508-370-8500) and Office Depot (561-265-4258), which had its proposed merger rejected by the Federal Trade Commission, may drop the merger plan altogether if the companies lose their first round in court. After learning that the FTC had rejected their merger proposal, the two companies vowed to fight the FTC in court and asked for hearing before the termination of the merger agreement on May 31. Now, the companies seem to be backing off from their original stance of fighting the FTC in court. "If a preliminary injunction issues in this case, it will be the death knell for this transaction," Office Depot attorney Donald Kempf said. The FTC is looking to block the merger on the basis that it would mean higher prices and less competition.

Applebee's International, Inc. (913-967-4000) recently completed the acquisition of 11 Applebee's restaurants in the St. Louis, MO market from its franchisee Apple Partners Limited Partnership.

Maxwell Shoe Company, Inc. (617-364-5090) recently completed a transaction to own and operate 130 women's footwear stores through a joint-venture, SLJ Retail LLC. Located in 24 states, the stores will sell footwear under the Sam & Libby and Jones New York brand names. Maxwell Shoe entered the joint venture agreement with The Butler Group, Inc., owners of a chain of women's shoe stores located in the East, Southeast, TX and CA. Approximately 130 of the chain's best locations in high-end shopping malls will be contributed to the joint venture. Of the locations, approximately 100 locations will be renamed and remerchandised to offer Sam & Libby shoes with the balance of the stores offering footwear under the Jones New York name. Maxwell Shoe, which acquired all worldwide right to the Sam & Libby trademarks last year will license the name and sublicense the Jones New York name to the joint venture. Maxwell Shoe anticipates that the first 25 stores will be opened by August with the balance opened by November.

Blockbuster Entertainment (954-832-3000) plans to purchase the remainder of the PC Upgrades chain in which it made a minority investment last year. Blockbuster is looking to expand the chain from its current two Cincinnati, OH stores.

Sears, Roebuck and Co. (847-286-0545) recently agreed to sell 60% of the outstanding share of Sears Roebuck de Mexico S.A. de C.V. to Grupo Carso S.A. de C.V. for $103 million. Sears will retain 15% interest in the company. Grupo Carso plans to expand the number of Sears stores in Mexico.

 

Buyers & Sellers

FAC Realty Trust, Inc. recently completed the acquisition of five community shopping centers, having a total GLA of 605,668 sq.ft., in the Raleigh, NC area from North Hills, Inc. for a total purchase price of $32.3 million. The sites include Gateway in Wilson, a 91,266 sq.ft. project anchored by Kmart and Winn-Dixie; Eastgate in Raleigh, a 54,375 sq.ft. project anchored by Books-A-Million and Kerr Drug; MacGregor Village in Cary, a 142,655 sq.ft. project anchored by Eckerd Drugs and Spa Health Club; Northridge in Raleigh a 165,215 sq.ft. project anchored by Winn-Dixie, Ace Hardware and Kerr Drug and Tower in Raleigh, a 152,157 sq.ft. project anchored by Food Lion, Big Lots, Shoe Show and Kerr Drugs.

For more information, contact FAC Realty Trust, Inc. at (919-462-8787).

JDN Realty Corporation recently acquired Tri-Rivers Plaza Shopping Center in South Boston, VA for $3.35 million. The 77,530 sq.ft. project is anchored by a 65,930 sq.ft. Wal*Mart. The center is expected to be redeveloped beginning the second quarter of this year to include a 172,000 sq.ft. Wal*Mart Supercenter with 25,000 sq.ft. of additional retail space.

For more information, contact JDN Realty Corporation at (404-262-3252).

Lehman Brothers and Amroc recently paid $135 million for the bank loan, which was in default, for Manhattan Mall in Manhattan, NY. The nine-story vertical mall is anchored by Stern's.

For more information, contact Lehman Brothers and Amroc at (212-298-6110).

Faison Orlando brokered the sale of International Drive Value Center in Orlando, FL. The 185,953 sq.ft. project is anchored by Bed Bath & Beyond, T.J. Maxx, Ross Dress For Less, Books-A-Million, Old Navy Clothing Co. and Shoe Carnival. The center was purchased by L.I.D. Associates Ltd. for $20.7 million.

For more information, contact Ray Hayhurst at (407-425-9700).

CB Commercial Real Estate Group brokered the sale of Palatine Plaza in Palatine, IL. The 137,000 sq.ft. project is anchored by Ace Hardware. The site was acquired by Highland Management Associates, Inc. from an Illinois-based pension fund advised by Capital Associates, Inc. Plans for the center include a major renovation and the leasing of a 46,000 sq.ft. co-anchor position, formerly occupied by Dominick's Finer Foods.

For more information, contact Nick Peters at (708-573-7082).

Burnham Pacific Properties, Inc. recently acquired The Fremont Hub in Fremont, CA; the 164,730 sq.ft. Santa Fe Springs Plaza in Los Angeles County, CA and the 62,314 sq.ft. Central Shopping Center in Ventura County, CA from MRE Properties for $69.9 million. The 491,000 sq.ft. Hub is anchored by Trader Joe's, Tower Records and OfficeMax and the sale does not include the 169,877 sq.ft. Montgomery Ward store which owns its location.

For more information, contact Burnham Pacific Properties, Inc. at (619-652-4700).

Southeast Realty Investments recently acquired Monroe Mall in Monroe, NC from a Boston, MA-based pension fund for $14.8 million. The 345,940 sq.ft. project is anchored by J.C. Penney, Wal*Mart, Peebles and Belk.

For more information, contact Southeast Realty Investments at (334-793-1100).

The Macerich Company recently acquired South Towne Center, a one million sq.ft. regional mall and contiguous power center in Sandy, UT from Zell/Merrill Lynch Real Estate Opportunity Partners I Fund for a total consideration of $98 million. The purchase price includes the assumption of existing debt of $47 million. The mall is currently undergoing a major expansion with the addition of a two-story 212,000 sq.ft. Dillard's Department Store that is expected to open during September. Macerich is also constructing 27,000 sq.ft. of two-level mall space connecting Dillard's to the mall. Upon completion, the total complex will contain 1.23 million sq.ft. of space and be anchored by JC Penney, Mervyn's, ZCMI and Dillard's. Additional tenants include a 180,000 sq.ft. SuperTarget, Barnes & Noble, Old Navy, Linens 'N Things and Gart's Sporting Goods. Discussions are underway to add a fifth anchor tenant.

For more information, contact The Macerich Co. at (310-394-6911).

Metro Commercial Real Estate, Inc. represented Best Buy in its acquisition of land in Allentown, PA for the development of a 45,000 sq.ft. Best Buy superstore. The site is located at the intersection of MacArthur Boulevard and Route 202 and was acquired for $3.1 million.

For more information, contact Steve Niggeman at (609-866-1900), Fax (866-1611).

Equity Investment Group LLC recently acquired Concord Village Shopping Center in Atlanta, GA. The 184,028 sq.ft. project is anchored by Kmart and A&P. The site was acquired from Allstate Life Insurance Company for $10.207 million.

For more information, contact Equity Investment Group at (404-364-2984).

Mainardi Management Co. has the listing to sell Plaza 21 Shopping Center in Hornell, NY. The 74,270 sq.ft. project is anchored by a 42,000 sq.ft. Central Tractor Farm & Family store and a 5,600 sq.ft. Sears, Roebuck & Co. store. The asking price is $750,000.

For more information, contact Mainardi Management Co. at (201-696-9265), Fax (696-1880).

 

Who's Opening & Where

Circuit City (804-527-4000) plans to develop a 37,873 sq.ft. store at a former Kmart location at Northgate Shopping Center in Fresno, CA. The plan, which was filed by the project's owners, calls for the demolision of the 72,000 sq.ft. former Kmart store, the construction of the Circuit City store as well as the construction of an additional 31,288 sq.ft. building and a 3,500 sq.ft. pad site. Prospective tenants for the other sites have not been announced.

Wal*Mart Stores, Inc. (501-273-4000) and Carmike Cinemas, Inc. (706-576-3400) recently formed a joint venture partnership to develop and operate family entertainment centers that will include arcades, skating rinks, restaurants and movie screens. The first location will be opened at a former Wal*Mart store in Goshen, IN during Summer with additional openings planned for Valparaiso, IN during Fall and in Dekalb, IL during Spring 1998. Carmike will own 50% of the joint venture and manage the entertainment centers, with Wal*Mart owning the remaining 50% and overseeing the real estate and development. The partnership plans to utilize old Wal*Mart stores that are beginning to appear nationwide as the retailer replaces its older stores with larger ones. The venture plans to test the concept at six locations, the three above plus three undetermined sites, before deciding on a national rollout. Currently, Carmike is developing, without Wal*Mart, a 125,000 sq.ft. entertainment center called Hollywood Connection in Columbus, OH. The project includes a 10-screen movie theater, a roller skating rink, an 18-hole putting golf course, bumper cars, a laser tag arena and a 1950s-themed restaurant. The site is expected to open this month. In other news, Wal*Mart recently opened a 124,000 sq.ft. store in Bradenton, FL and a 116,560 sq.ft. store at Wal*Mart Plaza in Clinton, NJ. The company also plans to open a 200,000 sq.ft. Supercenter in Bradenton during the Summer.

Von Maur (319-388-2200) recently announced its intention to be one of the five anchor stores at River City Galleria Mall in Peoria, IL. The 975,000 sq.ft. project is expected to have a groundbreaking during 1998. The upscale department store company currently operates four stores in IL, seven in IA and one in NE.

Target (612-304-6099) has scaled down its store planned for Yoder Farms Shopping Center in Newport News, VA from a 178,000 sq.ft. SuperTarget to a 136,000 sq.ft. Target Greatlands store.

Famous Dave's of America, Inc. (612-557-5798) plans to open barbecue restaurants in Apple Valley, MN; Madison, WI and Stillwater, MN during August.

Bagelz-The Bagel Bakery (800-270-7900) recently opened a store in Shawnee Mission, KS, the first of five KS locations projected for 1997. The company, which currently operates bagel restaurants in CT, KS, ME, MA and RI, has franchise agreements to open units in FL, IA and LA.

Just-A-Buck (914-291-7018) recently opened three stores in NJ and NY. The 30-unit chain has plans to open as many as 35 stores this year.

Laser Quest (416-925-7767) recently opened a 9,360 sq.ft. store in Houston, TX; an 8,500 sq.ft. store in Lincoln, NE; a 9,170 sq.ft. store in Wyomissing, PA; an 8,750 sq.ft. location in Westland, MI; a 10,000 sq.ft. store in Appleton, WI; a 9,700 sq.ft. site in Fullerton, CA; a 9,646 sq.ft. site in North Richland Hills, TX and an 8,500 sq.ft. site in San Antonio, TX. Five more centers are expected to open next month and during July.

Ross Dress For Less (510-505-4400) plans to open a 28,000 sq.ft. store at Bay Area Outlet Mall in Clearwater, FL during October.

Nordstrom (206-628-1725) is searching for a site for a second Denver, CO area store.

Men's Wearhouse (510-657-9821) plans to open a 5,000 sq.ft. store at Yoder Farms Shopping Center in Newport News, VA during summer.

Children's Orchard (313-994-9199) announces that six independently owned and operated franchise stores are expected to open in Cerritos, Agoura Hills, Mission Viejo, Santa Clarita Valley, Placentia and Cypress, CA within six months. As many as 12 stores are planned for CA this year. Overall, the company operates 70 franchised stores which sell used children's clothes, toys and equipment, nationwide.

Earful of Books (512-343-2620) recently opened a 3,300 sq.ft. store at Arlington Park Square in Arlington, TX. The store, which is the company's sixth location, sells and rents more than 7,000 books on tape.

Borders, Inc. (313-913-1323) plans to open a 27,500 sq.ft. bookstore in Braintree, MA during Summer.

General Nutrition Companies, Inc. (412-288-4600) recently signed a franchise agreement to open 15 GNC stores throughout Israel during the next three to five years. The first store is expected to open in Rehovat near Tel-Aviv next month.

Timber Lodge Steakhouse, Inc. (612-929-9353) plans to open a restaurant in Vernon Hills, IL during August. It will be the company's 15th unit.

Pacific Theaters (310-657-8420) is developing a 10-screen, 2,800-seat movie theater at the former Robinson-May Home Store at Northridge Mall in Northridge, CA. The site is expected to open during Summer 1998. In addition, the company is developing a 100,000 sq.ft., 20-screen theater, Winnetka 20 Cinema, at the site of the former Winnetka Drive-in in the San Fernando Valley, CA. The site is expected to open during November. Other sites are under development in San Diego, CA. These new projects, when completed, will raise the company's screen count to 405.

CompUSA, Inc. (972-982-4000) plans to open a 27,500 sq.ft. store adjacent to Liberty Tree Mall in Danvers, MA during Summer and a 25,000 sq.ft. store in Spokane, WA during early 1998.

Dillard's Department Store (501-376-5200) plans to open 100,000 sq.ft. stores at former Mervyn's spaces in Coral Square Mall in Coral Springs, FL and Miami International Mall in Miami, FL.

 

Lease Signings

Flocke & Avoyer Commercial Real Estate (619-280-2600) leased 1,400 sq.ft. to Little Caesars Pizza at Ramona Station Shopping Center in Ramona, CA; 1,200 sq.ft. to Century 21 Sea-Coast and 987 sq.ft. to Cost Cutters at Plaza Paseo Real in Carlsbad, CA; 1,200 sq.ft. to Master Cut and Curl at Mission Gorge Square in Santee, CA; 3,253 sq.ft. to 99 Cent Store at Poway Plaza Shopping Center in Poway, CA; 1,490 sq.ft. to Computer Renaissance at Rio Vista Shopping Center in San Diego, CA; 1,650 sq.ft. to Hippo's Curry Kitchen at Convoy Court in San Diego, CA; 1,475 sq.ft. to General Nutrition Center at Rancho Penasquitos Towne Center in San Diego, CA; 1,200 sq.ft. to General Nutrition Center at Southland Plaza in San Diego, CA; 2,658 sq.ft. to Thai Go Restaurant at Carmel Mountain Plaza in San Diego, CA; 845 sq.ft. to Cigarettes 4 Less at Poway Plaza in Poway, CA; 1,200 sq.ft. to College Avenue Water Store in San Diego, CA; 330 sq.ft. to Tailor/Alterations Shop at Encinitas Village Square I in Encinitas, CA; 3,500 sq.ft. to White Tiger Tae Kwan Do at Palomar Square in Chula Vista, CA; 1,300 sq.ft. to Uniforms For America at Sunrise Towne Center in San Diego, CA and 1,650 sq.ft. to Papa John's Pizza at The Hillcrest Colonnade Shopping Center in San Diego, CA.

Vanguard Realty, Inc. (201-443-9700) leased 2,000 sq.ft. to Starbuck's Coffee and 5,100 sq.ft. to Marty's Shoes at West Caldwell Plaza in West Caldwell, NJ and 4,500 sq.ft. to Everything 99 Cents at Cardiff Circle Shopping Center in Pleasantville, NJ.

The Goldstein Group (201-703-9700) leased space to Blockbuster Video, General Nutrition Centers, Payless ShoeSource, Park Karate, M&S Jewelers, Oakland Vision and Gingerbread Castle Nursery School at Copper Tree Shopping Center in Oakland, NJ; 16,500 sq.ft. to Computer City at West Falls Plaza in West Paterson, NJ and eight spaces to General Nutrition Center at Plaza Square in Wayne, NJ; Mahwah Shopping Center in Mahwah, NJ; Rutgers Plaza Shopping Center in Somerset, NJ; Riverfront Shopping Center in Hackensack, NJ; Mansfield Commons in Mansfield, NJ; Botany Village Shopping Center in Clifton, NJ; Middletown Shopping Center in Middletown, NJ and Franklin Towne Center in Franklin Township, NJ. The company also leased 18,500 sq.ft. to Sneaker Stadium and 11,800 sq.ft. to Party City at Lenox Plaza in West Paterson, NJ; space to Dunkin Donuts in Fair Lawn, NJ; Silver Hanger Dry Cleaners and Dynamic Dance in Oakland, NJ; Simply Elegant in Ramsey, NJ; Wayne Nails in Wayne, NJ and Lodi Karate in Lodi, NJ. In addition, space was leased to Sports Nut, Rockland Family Shelter, Things I Love and Buy Rite Liquors at New City Shopping Center in New City, NY.

McClinton & Company, Inc. (334-270-9653) leased space to Rack Room Shoes, Radio Shack, Sally Beauty Supply, Cellular One and Ding How Chinese Restaurant at Premiere Place Shopping Center in Pratville, AL.

Glimcher Group (412-765-3333) leased 1,440 sq.ft. to National Cash Advance at Green Garden Plaza in Aliquippa, PA.

The Sembler Company (813-384-6000) leased space to Eckerd Drug Store and Applebee's at Brandon Town Center in Brandon, FL; 2,500 sq.ft. to China Garden Restaurant in Cocoa, FL; 1,200 sq.ft. to Fantastic Sam's at Publix at Barclay Shopping Center in Spring Hill, FL and 1,200 sq.ft. to Fantastic Sam's at Publix at River Crossing Shopping Center in New Port Richey, FL.

Island Associates Real Estate, Inc. (516-587-5050) leased 10,000 sq.ft. to CVS in Bellmore, NY.

Beitler Commercial Realty Services (818-501-5001) leased 10,785 sq.ft. to 4 Wheel Parts Wholesalers in Van Nuys, CA.

Sigma National, Inc. (804-320-6100) leased 54,000 sq.ft. to Hannaford Supermarket at North Park Shopping Center in Richmond, VA.

National Realty & Development Corp. (914-694-4444) leased 1,600 sq.ft. to Allure Beauty Supply & Tanning at Wal*Mart Plaza in Clinton, NJ and 63,000 sq.ft. to Acme Supermarket at Liberty Square Shopping Center in Burlington, NJ.

Esquire Properties, Inc. (212-572-8388) leased 3,400 sq.ft. to Xando Coffee and Bar in Manhattan, NY; 3,000 sq.ft. to Rent-A-Center in Brooklyn, NY and 3,000 sq.ft. to Rent-A-Center in Washington Heights, NY.

Divaris Real Estate, Inc. (757-497-2113) leased 25,000 sq.ft. of the 37,400 sq.ft. former Farm Fresh store in Williamsburg, VA to Staples. The remaining space is expected to be leased to third parties. The company also leased 120,000 sq.ft. of space from the former Miller & Rhodes store to Bell Atlantic Plus at Newmarket Fair Mall in Hampton, VA. Bell Atlantic will create a one-stop shopping service center that will offer cellular phone service, internet access, paging and long distance services.

Mid-America Asset Management Co. (630-954-7300) leased 6,445 sq.ft. to Dollar Tree Stores at Brentwood Commons Shopping Center in Bensenville, IL; 1,200 sq.ft. to Nail 1st and 2,500 sq.ft. to Restaurant Chifumi at Red Top Plaza in Libertyville, IL; 2,486 sq.ft. to The Bedding Experts at Elk Crossing Shopping Center in Elk Grove Village, IL and 1,650 sq.ft. to Household Finance Corp. at Woodgrove Festival Shopping Center in Woodridge, IL.

United Commercial Realty (214-526-6262, e-mail ucr@onramp.net, web site http://www.rampages.onramp.net/~ucr) leased 6,500 sq.ft. to Blockbuster Video at Fiesta Foods Center in Dallas, TX; 6,500 sq.ft. to Blockbuster Video in Arlington, TX and 6,500 sq.ft. to Blockbuster Video at Sylvan Heights Shopping Center in Arlington, TX.

Randy Iaboni Real Estate Ltd. (416-925-7767) leased spaces to Laser Quest in Appleton, WI; Westland, MI; Canton, OH; Fullerton, CA; Clinton, MI; Wyomissing, PA; Modesto, CA; Sunrise, FL; Forth Worth, TX and Arlington Heights, IL.

The Tobin Group, Inc. (803-626-7672) leased space to Victoria's Secret, The Endangered Species Store, DAPY (Spencer Gifts) and The Icing at Broadway at the Beach in Myrtle Beach, SC.

Jeffery Realty (908-668-9600) leased 11,300 sq.ft. to The Door Store in Union, NJ; 3,200 sq.ft. to Cobb's Barbecue in Union, NJ; 16,000 sq.ft. to The Executive Club in Greenbrook, NJ and 3,000 sq.ft. to Boston Market at Troy Hills Shopping Center in Parsippany, NJ.

Western Investment Real Estate Trust (916-791-0600) leased 2,500 sq.ft. to Carl's Jr. at Yreka Junction Shopping Center in Yreka, CA; 710 sq.ft. to Mario's Fine Jewelry at Heritage Place Shopping Center in Tulare, CA; 1,108 sq.ft. to Computers Etc. at Heritage Park Shopping Center in Suisun, CA; 1,400 sq.ft. to Country Oaks Cottage in Country Gables Shopping Center in Granite Bay, CA; 800 sq.ft. to Cannon Computers and 1,100 sq.ft. to WFS Work Well at Ukiah Crossroads Shopping Center in Ukiah, CA; 3,040 sq.ft. to Tonky Noodle House at Kmart Shopping Center in Sacramento, CA; 3,966 sq.ft. to Central Rental & Purchase at Cobblestone Shopping Center in Redding, CA and 1,500 sq.ft. to Kumon Math & Reading Centers at San Antonio Center in Mountain View, CA.

Cody Olson, Inc. (810-745-1900) leased space to Sibley Shoes, Radio Shack, Fashion Cents, Imperial Sports, H&R Block, First Optometry, Mr. Fo-Fo's Deli, China City and Dollar Daze at Riverbend Plaza Phase II in Detroit, MI.

The Sansone Group (314-727-6664) leased 2,400 sq.ft. to Once Upon A Child at South Lakeview Plaza in St. Louis, MO; 2,374 sq.ft. to Sunset Cyclery at Plaza at Sunset Hills in Sunset Hills, MO; 5,409 sq.ft. to Archway Kitchen & Bath at Barrett Station Shopping Center in St. Louis, MO and 2,450 sq.ft. to Nurti/System at Mid Rivers Center in St. Louis, MO.

Charter Realty & Development Corp. (203-629-3939) leased 736 sq.ft. to Baccarat Crystal in downtown Greenwich, CT. The store will be located across the street from Saks Fifth Avenue.

Ripco Real Estate (610-834-800) leased 1,600 sq.ft. to Starbucks at York Marketplace in York, PA; 1,200 sq.ft. to Starbucks at Mercer Mall in Lawrenceville, NJ; 5,500 sq.ft. to Blinds To Go in Whitehall, PA; 3,600 sq.ft. to Blinds To Go at Mill Creek Plaza in Wilmington, DE and 6,000 sq.ft. to Laserstorm at Deptford Shopping Center in Deptford, NJ.

 

Lead Sheet

Strauss Auto Parts

Jaime Lara

9-A Brick Plant Road

South River, NJ 08882

908-390-9000, Fax 390-9079

Automotive

The 110-unit chain operates locations in CT, DE, MA, NJ, NY and PA. The automotive stores occupy spaces of 8,000 sq.ft. for stores that only sell auto parts and 14,000 sq.ft. for stores that offer service in addition to selling auto parts in freestanding facilities and strip centers. Growth opportunities are sought in the Mid-Atlantic and New England regions.

GBS Beauty Supply

Kenneth Bern

1037 NW 3rd Street

Hallandale, FL 33009-3101

954-456-2988, Fax 454-4928

Beauty Supply

The five-unit chain operates locations in FL. The stores, selling beauty supplies, cosmetics and aroma therapy products, occupy spaces of 2,500 sq.ft. in downtown store fronts, freestanding facilities, specialty and strip centers. Growth opportunities are sought in the existing market.

Mattress King, Inc.

dba Mattress King

Neil Gulati

6000 B West Broad Street

Richmond, VA 23230-2222

804-282-3366, Fax 282-1341

Bedding

The 24-unit chain operates locations in NC and VA. The stores, selling mattresses and beds, occupy spaces of 2,500 sq.ft. to 4,000 sq.ft. in freestanding facilities and strip centers. Plans call for 20 openings in the coming 18 months. Expansion will take place in NC. Leases running five to 15 years are typical.

Wills Book & Stationery Co., Inc.

dba Wills Book Store

Randy Jorgensen

103 Longale Road

Greensboro, NC 27409

910-299-1411, Fax 299-1414

Books

The 10-unit chain operates locations in NC, SC and VA. The bookstores, selling books, gifts and stationery, occupy spaces of 10,000 sq.ft. in regional malls and strip centers. Growth opportunities are sought in the existing markets as well as in TN and WV.

Computer Town, Inc.

dba Computer Town

Tom Jacobs

8 B Industrial Way

Salem, NH 03079-3304

603-894-0500, Fax 894-0539

Computers

The six-unit chain operates locations in AZ, MA and NH. The stores, selling computers and peripherals, occupy spaces of 2,500 sq.ft. to 8,000 sq.ft. in freestanding facilities, specialty and strip centers. Plans call for 10 openings in the coming 18 months. Expansion will take place in AZ, NM, NV and NC. Preferred demographics include a population of 100,000 within 15 miles earning $50,000 as the average income. Leases running five years are typical and the company cites CompUSA as competition.

Peebles, Inc.

dba Peebles, Carlisle's

David Bordsen, Mike Rodenas

One Peebles Street

South Hill, VA 23970-9580

804-447-5414, Fax 447-5474

Department Store

The 80-unit chain operates locations in AL, DE, KY, MD, NJ, NY, OH, PA, SC, TN and VA. The department stores occupy spaces of 15,000 sq.ft. to 30,000 sq.ft. in regional malls and strip centers. Preferred co-tenants include Belk and J.C. Penney. Plans call for 10 openings in the coming 18 months. Expansion will take place within the existing markets as well as in GA, IL, IN, MS, MO and WV. Leases running 15 to 20 years are typical.

Super Sav-on-Drugs of America

dba Super Sav-On-Drugs, Sav-On-Drugs

Larry Knotts

106 Fifth Avenue NW

Amory, MS 38821-3024

601-256-3020, Fax 256-3294

Drug Store

The 12-unit chain operates locations in AL, MS and TN. The drug stores occupy spaces of 2,000 sq.ft. in freestanding facilities. Plans call for 10 openings in the coming 18 months. Expansion will take place in the existing markets.

Rosa's Home Appliance

dba Rosa's Superstores

Paul Rosa

2331 Union Road

Cheektowago, NY 14227

716-656-5383, Ext. 310, Fax 656-0194

Electronics

The six-unit chain operates locations in NY. The stores, selling electronics, appliances and furniture, occupy spaces of 14,000 sq.ft. in freestanding facilities. Growth opportunities are sought in the existing market.

Hancock Fabrics, Inc.

dba Hancock Fabrics,

Minnesota Fabrics, Fabric Warehouse

William Smothers, Sr.

3406 West Main Street

Tupelo, MS 38801-9412

601-842-2834, Fax 842-3870

Fabric

The 500-unit chain operates locations nationwide. The stores, selling fabrics, notions, crafts and sewing machines, occupy spaces of 12,000 sq.ft. to 20,000 sq.ft. in freestanding facilities, power and strip centers. Preferred co-tenants include supermarkets, drug stores and discount stores. Plans call for 30 openings in the coming 18 months. Expansion will take place nationwide. Preferred demographics include a population of 60,000 within three miles earning $25,000 as the average income. Leases running 10 years are typical and the company cites Wal*Mart, Clothworld, Piece Goods, Northwest Fabrics, JoAnne Fabrics & Crafts and House of Fabrics as competition.

Lynne Brick's Women's Health/Fitness

Director of Real Estate

200 West Padonia Road

Padonia, MD 21093

410-252-8058, Fax 560-3299

Fitness

The four-unit chain operates locations in MD. The fitness centers occupy spaces of 10,000 sq.ft. in freestanding facilities and strip centers. Growth opportunities are sought in MD and VA.

Burger King Corporation

dba Burger King

David Fitzjohn

17777 Old Cutler Road

Miami, FL 33157

305-378-7011, Fax 378-7262

Food

The 8,671-unit chain operates locations worldwide. The fast food restaurants occupy space in a variety of real estate settings. Plans call for 500 openings worldwide.

The Signature Salon Group

dba Signature Salons

Michael Slomak

3644 Mayfield Road

Cleveland, OH 44118

216-291-3700, Ext. 125, Fax 381-0164

Hair Salon

The 200-unit chain operates locations nationwide. The hair salons, which cater to both men and women, occupy spaces of 1,000 sq.ft. in regional malls and strip centers. Growth opportunities are sought nationwide.

NDM Enterprises

dba First American Rental

David Oliver

6400 Hillandale Drive

Lithonia, GA 30058

770-482-2400, Fax 482-8971

Home Furnishings

The 28-unit chain operates locations in GA, IL and WI. The stores, which offer home furnishings for rent, occupy spaces of 3,000 sq.ft. to 5,000 sq.ft. in freestanding facilities, power and strip centers. Preferred anchors include Kmart, Target and Wal*Mart. Plans call for 20 openings in the coming 18 months. Expansion will take place in AL, GA, SC and TN. Preferred demographics include a population of 25,000 within five miles earning $25,000 as the average income. Leases running three to five years are typical and the company cites Rent-A-Center, Aarons and Alrenco as competition.

Heslops, Inc.

dba Heslops

Ronald Heslop

22790 Heslop Drive

Novi, MI 48375-4143

810-348-7050, Fax 344-4342

Housewares

The 13-unit chain operates locations in MI. The stores, selling tableware and giftware, occupy spaces of 5,000 sq.ft. in strip centers. Plans call for as many as two openings in the coming 18 months. Expansion will take place in the Midwestern region.

A.A. Friedman Co.

dba Friedman Jewelers, Marks & Morgan

Hugh Rose

2559 Washington Road

Augusta, GA 30904-3128

706-731-0037, Fax 737-0528

Jewelry

The 121-unit chain operates locations in AL, FL, GA, MS, NC, SC and TN. The jewelry stores occupy spaces of 2,000 sq.ft. in regional malls. Plans call for 15 openings in the coming 18 months. Expansion will take place in the existing markets. Leases running 10 years are typical.

Landmark Luggage & Gifts, Inc.

dba Landmark Luggage & Gifts,

Passport Luggage, Busch's Luggage

Martin Brody

2165 NW 108th #F

Des Moines, IA 50325-3713

515-278-2004, Fax 278-1137

Luggage

The 17-unit chain operates locations in IL, IN, IA, KS, MO, NE and WI. The stores, selling luggage, occupy spaces of 2,000 sq.ft. to 2,500 sq.ft. in regional malls. The company also operates kiosk locations in regional malls. Plans call for two openings and one kiosk opening in the coming 18 month. Expansion will take place in MO, IN and WI.

E.B. Brown Optical

dba E.B. Brown Optical, Downs Optical,

Gustafson Optical, Magnuson Optical

Gordon Safran

1549 East 30th Street

Cleveland, OH 44114-4385

216-241-0474, Fax 241-4563

Optical

The 42-unit chain operates locations in MD, OH and PA. The optical stores occupy spaces of 1,100 sq.ft. in regional malls, power and strip centers. Plans call for two openings in the coming 18 months. Expansion will take place in OH and PA.

Petland Discounts, Inc.

dba Petland Discounts

Neil Padron

355 Crooked Hill Road

Brentwood, NY 11717-1031

516-273-6363, Fax 273-6513

Pet Store

The 106-unit chain operates locations in CT, FL, NJ and NY. The pet stores occupy spaces of 2,000 sq.ft. in downtown store fronts and strip centers. Plans call for six openings in the coming 18 months. Expansion will take place in NY.

Wolf Camera & Video, Inc.

dba Wolf Camera

Kristine Martin

1706 Chantilly Drive NE

Atlanta, GA 30324-3218

404-633-9000, Fax 634-7758

Photography

The 272-unit chain operates locations in AL, CA, FL, GA, IL, KY, LA, MS, NV, NC, OK, SC, TN and TX. The stores, selling photography equipment and supplies as well as offering photo processing services, occupy spaces of 2,000 sq.ft. in freestanding facilities, outlet, power, specialty and strip centers. Preferred anchors include supermarkets. Plans call for 75 openings in the coming 18 months. Expansion will take place in CA, IL and TX. Preferred demographics include a population of 300,000 within three miles earning $75,000 as the average household income. Leases running five to 10 years are typical.

Lamey-Wellehan

dba Lamey-Wellehan

James Wellehan, Don Stowell

110 Libson Street

Lewiston, ME 04240-7120

207-784-6595, Fax 784-9650

Shoes

The five-unit chain operates locations in ME. The family shoe stores occupy spaces of 4,000 sq.ft. to 6,000 sq.ft. in downtown store fronts, freestanding facilities, regional malls, power, specialty and strip centers. Plans call for one opening in the coming 18 months. Expansion will take place in the existing market.

Baccarat Crystal

Richard Garrity

36 Mayfield Avenue

Edison, NJ 08837

908-225-9600, Fax 225-1336

Specialty

The two-unit chain operates locations in CO and VT. The stores, selling crystal figurines, occupy spaces of 1,600 sq.ft. to 2,100 sq.ft. in outlet centers. Growth opportunities are sought in the existing markets.

Dick's Clothing & Sporting Goods

Joe Queri

400 Cherrington Parkway

Coreopolis, PA 15108

412-269-4400, Fax 269-4493

Sporting Goods

The 54-unit chain operates locations in nine Northeastern states. The stores, selling sporting goods and related apparel, occupy spaces of 50,000 sq.ft. to 55,000 sq.ft. in power centers. Plans call for 10 openings annually. Expansion will take place in the existing markets.

Raley's

dba Raley's, Bel Air, Food Source

Neil Doerhoff

PO Box 15618

Sacramento, CA 95852

916-373-3333, Fax 371-1323

Supermarket

The 83-unit chain operates locations in CA and NV. The supermarkets occupy spaces of 61,000 sq.ft. in strip centers. Plans call for three Raley's openings and one Bel Air opening in the coming 18 months. Expansion will take place in the existing markets.

 

Space Place

Arizona

Glendale- Manistee Town Center is anchored by Montgomery Wards, Heilig Meyers, an antique mart, a supermarket and a movie theater. The 530,000 sq.ft. project has spaces from 1,000 sq.ft. to 40,000 sq.ft. as well as eight outparcels ranging from 4,000 sq.ft. to 75,000 sq.ft. available for lease.

For details, contact Manistee Town Center at (602-915-9000), Fax (937-7994).

California

Los Angeles- A restaurant/retail location ranging from 785 sq.ft. to 3,200 sq.ft. in available for lease on Westwood Boulevard. The site is located near Blockbuster Music and The Big Easy.

For details, contact Greenwood & Co. at (310-478-7713), Fax (477-4254).

Pleasanton- Dublin Shopping Center is anchored by Orchard Supply Hardware, Ross Stores, Michael's, Home Express, Toys 'R Us and Starbucks. The project has spaces up to 50,000 sq.ft. available for lease.

For details, contact Frank Arthur or Matt Brooks of Wm. Mathews & Co. at (510-562-0300).

Florida

Clearwater- Clearwater Plaza is anchored by MacFrugal's and Bealls Outlet. The 128,369 sq.ft. project has a 28,800 sq.ft. space available for lease. Demographics include a five-mile population of 223,496 earning $40,139 as the average household income.

For details, contact Susie Levin Rice of RMC Realty Companies, Ltd. at (813-960-8154), Fax (963-2596).

Keystone Heights- Keystone Village Square is anchored by Miller's Food Store, Eckerd Drugs, Family Dollar and McDonald's. The 61,217 sq.ft. project has small store space available, outparcels of 25,000 sq.ft. and 55,000 sq.ft. and 40,000 sq.ft. in phase II available for lease.

For details, contact Bryant Hungerford of Keystone Village Square at (352-371-1600), Fax (371-0088).

Georgia

Alpharetta- Alpharetta Commons is anchored by an A&P Superstore, Hollywood Video, Lady Sportslife and Taco Mac. The newly development project has a .69 acre outparcel available for lease. In Atlanta- Cherokee Plaza is anchored by an A&P Superstore, Blockbuster Video and a U.S. Post Office. The project has spaces of 2,500 sq.ft., 3,414 sq.ft. and 4,275 sq.ft. available for lease. Food uses are not permitted in the spaces available.

For details, contact Paul Ajdaharian of Brandywine Real Estate Management Services Corp. at (813-726-6880).

Michigan

Saginaw- Bay Towne Plaza is anchored by Kmart, Chili's and Wendy's. Spaces from 2,000 sq.ft. to 45,000 sq.ft. are available for lease. The site is located across from the 800,000 sq.ft. Fashion Square Mall anchored by Hudsons, JC Penney and Sears.

For details, contact Brent Taylor of The Farbman Group at (810-351-4378).

New Jersey

Wallington- Wallington Shopping Center is anchored by A&P and Genovese Drugs. The 85,000 sq.ft. project has spaces of 2,500 sq.ft. and 6,500 sq.ft. available for lease. No food users are permitted due to zoning restrictions.

For details, contact William Mooney of Jeffery Realty at (609-668-9600), Fax (668-8779).

New York

Binghamton/Johnson City- Oakdale Mall is anchored by Sears, JC Penney, Bon Ton, Montgomery Ward and Bradlees. Other tenants include Eddie Bauer, Disney, American Eagle, Gap/Gap Kids, Gymboree and Garden Botanika. The one million sq.ft. project has spaces available for lease. In Brooklyn- Kings Plaza Mall is anchored by Sears and Macy's. Other tenants include Gap, Warner Brothers, Victoria's Secret, Guess and Disney. The 1.1 million sq.ft. project has spaces available for lease.

For details, contact Edmond Ezra of Vornado Realty Trust at (201-587-1000).

Texas

North Austin- A 38 acre retail site located on Interstate 35 and US 81 is available for lease. The site, which is divisible, has all utilities and is located near Target, Wal*Mart and Home Depot.

For details, contact Jeff Latimer of Ray Wilkerson Cos., Inc. at (512-458-5993), Fax (458-1648).

Virginia

Alexandria- Huntington Station is anchored by Yates Auto Parts, Wonder Bread and High's Dairy. The 47,507 sq.ft. project has spaces of 2,045 sq.ft., 2,059 sq.ft. and 3,340 sq.ft. available for lease. Demographics include a five-mile population of 363,194 earning $74,506 as the average income. In Arlington- Glebe Lee Shopping Center is anchored by Rite Aid and Spa Lady. The 38,880 sq.ft. project has a 7,000 sq.ft. space available for lease. Also in Arlington- Lee Harrison Shopping Center is anchored by SuperFresh, Rite Aid and Chesapeake Bagel Bakery. The 114,186 sq.ft. project has a 1,120 sq.ft. space available for lease.

For details, contact A.J. Dwoskin & Associates at (703-273-9320), Fax (273-5045).

Manassass- Manassass Mall is anchored by Sears, Montgomery Ward and Hechts. Target and JC Penney will be joining the mall during Fall. The 900,000 sq.ft. project has space available for lease.

For details, contact Edmond Ezra of Vornado Realty Trust at (201-587-1000).

Wisconsin

Beloit- Beloit Mall has spaces available for lease.

For details, contact Liz Cherry of Beloit Mall at (608-362-1636), Fax (362-6220).

Wyoming

Casper- Beverly Plaza Shopping Center is anchored by Buttery Foods, Northwest Fabrics, Blockbuster, Merle Norman, Fantastic Sam's, Paper Warehouse, Sally Beauty and Carmike Theaters. The 150,382 sq.ft. project has 54,469 sq.ft. available for lease with space varying from 760 sq.ft. to 50,779 sq.ft. The owner's are seeking a home improvement store, drug store, drycleaners and restaurants. Demographics include a five-mile population of 49,931 earning $46,831 as the average income.

For details, contact Stephanie Elyachar of Pathmark Development Group at (913-345-0535), Fax 345-0552).

 

Sources of Financing

First Union Capital Markets Group (704-383-6385) recently completed the following net lease financing arrangements: $31,014,452 to Rite-Aid Corporation as a first mortgage on 20 freestanding drug stores totalling 218,910 sq.ft. in GA, NJ, OH, PA and WV; $10,952,164 to Lowes Companies, Inc. as a first mortgage on a 130,000 sq.ft. store in Hattiesburg, MS; $7,458,022 to Wal*Mart Stores, Inc. as a first mortgage on a 123,995 sq.ft. store in Boone, SC; $34.375 million to Circuit City Stores, Inc. for sale/leaseback financing for seven freestanding stores totalling 219,627 sq.ft. in CA, NY, OH, PA, SC and VA; $75 million to Service Merchandise Company, Inc. for first mortgages for 25 freestanding stores totalling 1,437,888 sq.ft. in 14 states; and $28.8 million for a first mortgage for Rivertowne Commons Shopping Center, a 380,968 sq.ft. power center in Oxon Hill, MD.

Urban Shopping Centers, Inc. (312-915-3568) recently completed a $170 million debt refinancing for Water Tower Plaza, an 821,000 sq.ft. mixed-use retail/office project in Chicago, IL. The non-recourse financing was provided by Lehman Brothers Holdings, Inc. and the new loan matures in February 1999. It may be extended for two one-year periods.

 

Real Estate Professionls Making The News

Atlas Partners (312-516-5700, e-mail biff@atlaspartners.com) was recently formed by Gwen Callans and Roger "Biff" Ruttenberg in Chicago, IL. The company provides consulting services to asset-based lenders, institutions, corporations, investors, retailers and other users of commercial real estate. The company specializes in work-outs, turnarounds, receiverships and maximizing the value of difficult properties in addition to providing tenant representation and leasing and general brokerage services.

TrizecHahn Corporation (619-546-3393) announces that Richard Welcome has joined the company as senior vice president, development. In this position, Welcome will be responsible for the development of new and the redevelopment of existing shopping centers.

Brunelli & Co., Inc. (908-721-5800, web site www.njretailrealty.com) announces that Thomas J. Caruso has joined the company.

Hiffman Shaffer Associates, Inc. (312-332-3555) announces that Bryan Sullivan has joined the company as a leasing agent.

The Macerich Company (310-394-6911) announces the promotion of Eric Salo to vice president-acquisitions and underwriting. In this newly created position, Salo will be responsible for coordinating all underwriting activities for the company's acquisition team. The company also announces that Larry Sidwell has joined the company as senior vice president-development. In this newly created position, Sidwell will direct the company's activities with department stores, working with existing and prospective anchors on mall redevelopments and expansions, and advising on the overall planning of major redevelopment projects. Sidwell is a former May Company and Sears real estate executive.

Walgreen Co. (847-940-2500) announces that Charles R. "Cork" Walgreen III is turning over the job of CEO to company president L. Daniel Jorndt, who becomes the first CEO of the company who is not a member of the Walgreen family. Walgreen will continue as chairman of the company and preside at board meetings, but Jorndt will assume the strategic and day-to-day leadership of the company. The change is expected to take effect during January.

Felenstein Koniver & Associates (305-532-6100) announces that Carol Lynn Klau has been selected to head the Chicago, IL office of the company. As managing director of the office, Klau will oversee the merchandising and leasing efforts of several high profile properties, including Trump Tower, a five-level vertical mall in New York City.

CBL & Associates Properties, Inc. (423-855-0001) announces that Tim Evans, Zach Morris and Dustin Young recently joined the company's executive staff.

The Advance Group (908-719-3000) announces that Frank Pratt has joined the company as vice president business development.

MBK Southern California, Ltd. (714-789-8300) announces the appointment of William Kearns as senior vice president of commercial/industrial development. Kearns' responsibilities include oversight for all commercial/industrial development activities in southern CA, southern NV and AZ. The company also announces the appointment of J. Scott Reid as president.

hat is expected to open during September.