Issue Number 26 for the week of July 25, 1997
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The Dealmakers Issue Number 26 for the week of July 25, 1997.

Tenants Seeking Space in Western Pennsylvania

Weis Markets trades as Weis Markets at 127 locations in MD, NJ, NY, PA, VA and WV. The supermarkets occupy spaces of 41,000 sq.ft. to 65,000 sq.ft. in freestanding facilities and strip centers. Plans call for 15 openings in the coming 18 months. Expansion will take place in the existing markets.

The company trades as King's Supermarket at five locations in PA. The supermarkets occupy spaces of 41,000 sq.ft. to 65,000 sq.ft. in freestanding facilities and strip centers. Growth opportunities are sought in the existing market.

The company operates as Mr. Z's Supermarket at 17 locations in MD, NJ, NY, PA, VA and WV. The supermarkets occupy spaces of 41,000 sq.ft. to 65,000 sq.ft. in freestanding facilities and strip centers. Growth opportunities are sought in the existing markets.

The company does business as Scott's at four locations in PA. The supermarkets occupy spaces of 41,000 sq.ft. to 65,000 sq.ft. in freestanding facilities and strip centers. Growth opportunities are sought in the existing market.

The company also trades as Save A Lot at two locations in PA. The supermarkets occupy spaces of 41,000 sq.ft. to 65,000 sq.ft. in freestanding facilities and strip centers. Growth opportunities are sought in the existing market.

The company prefers to purchase real estate and develop its own stores for each concept.

For more information on the above five concepts, contact Rusty Graber, Weis Markets, 1000 South Second Street, Sunbury, PA 17801-0471; 717-286-4571, Fax 286-3286.

Sun Television and Appliances trades as Sun Super Saving Center at 48 locations in KY, NY, OH, PA and WV. The stores, selling appliances, consumer electronics and home furnishings, occupy spaces of 20,000 sq.ft. to 60,000 sq.ft. in freestanding facilities and strip centers. Plans call for 15 openings in the coming 18 months. Expansion will take place in the existing markets.

For more information, contact Richard Machinski, Sun Television and Appliances, 6600 Port Road, Groveport, OH 43125; 614-492-5600, Fax 492-1671.

One Hour Photo operates 16 locations in FL, KY, OH and PA. The stores, offering photo processing services, occupy spaces of 1,200 sq.ft. in regional malls. Growth opportunities are sought in the existing markets.

For more information, contact Kathleen Clagett, One Hour Photo, 49 Rocheway, Youngstown, OH 44513; 330-758-0982, Fax 758-0542.

J.R. Holcomb & Co. trades as Holcomb's Educational Material at 13 locations in OH and PA. The stores, selling office and school supplies, educational material and stationery, occupy spaces of 4,000 sq.ft. in strip centers. Plans call for five openings in the coming 18 months. Expansion will take place in OH and PA. Leases running five years, with options, are typical.

For more information, contact Robert Krajnak, J.R. Holcomb & Co., 3205 Harvard Avenue, Cleveland, OH 44101; 216-341-3000, Fax 341-5151.

Cogo's Co. trades as Cogo's Stores at 60 locations in PA. The convenience stores occupy spaces of 2,400 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 market. Leases running five to 10 years are typical.

For more information, contact Bob Helmstadter, Cogo's Co., 2589 Boyce Plaza Road, Pittsburgh, PA 15241; 412-257-1550, Fax 257-8114.

Signature's operates three locations in PA. The stores, selling stationery, writing instruments and gifts, occupy spaces of 1,000 sq.ft. to 2,000 sq.ft. in regional malls and upscale strip centers. Plans call for as many as two openings in the coming 18 months. Expansion will take place in OH, PA or WV.

For more information, contact Judy Wetzel, Signature's, PO Box 228, Allison Park, PA 15101; 412-443-6660, Fax 443-3944.

Renee Beauty Salons, Inc. does business as Outlooks For Hair at 33 locations in MD, NJ, PA and WV. The hair salons occupy spaces of 1,500 sq.ft. to 2,000 sq.ft. in regional malls. Growth opportunities are sought in the existing markets.

The company also does business as Beauty Bar at three locations in PA. The upscale hair salons occupy spaces of 1,500 sq.ft. to 2,000 sq.ft. in regional malls. Growth opportunities are sought in the existing market.

For more information on the above two concepts, contact Daniel Coniglio, Renee Beauty Salons, Inc., PO Box 600, Pottsville, PA 17901; 717-429-1800, Fax 429-1143.

Gorant Candies, Inc. trades as Gorant, Abbotts Cards & Gifts, Yum Yum Tree, Card Cage and PS Peabody at 68 locations in OH and PA. The stores, selling cards, gifts and candies, occupy spaces of 4,000 sq.ft. to 6,000 sq.ft. in power centers. Preferred anchors include supermarkets and drug stores. Plans call for two openings in the coming 18 months. Expansion will take place in OH and western PA. Leases running five years, with a five-year option, are typical.

For more information, contact Judith Doan, Gorant Candies, Inc., 8301 Market Street, Youngstown, OH 44512-6257; 216-726-8821, Fax 726-0325.

Giant Eagle, Inc. trades as Giant Eagle and Valu King at 132 locations in OH, PA and WV. The supermarkets occupy spaces of 55,000 sq.ft. in freestanding facilities, power and strip centers. Preferred co-tenants include major discount stores. Plans call for the opening of four units in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of 50,000 within three miles earning $50,000 as the average income. Leases running 20 years are typical.

For more information, contact Chad Deliere, Giant Eagle, Inc., 101 Kappa Drive, Pittsburgh, PA 15238-2809; 412-963-6200, Fax 963-2810.

Ohio Valley Taco trades as Taco Bell at six locations in OH and PA. The Mexican fast food restaurants occupy spaces of 2,500 sq.ft. in freestanding facilities. Plans call for three openings in the coming 18 months. Expansion will take place in OH, PA and WV. Preferred demographics include a population of 100,000 within 10 miles earning $28,000 as the average income. Leases running 20 years are typical.

For more information, contact Michael Schiappa, Ohio Valley Taco, PO Box 4609, Steubenville, OH 43952; 614-284-1470, Fax 284-1479.

Best Oil, Inc. trades as Toot-N-Scoot at 19 locations in OH and PA. The convenience stores occupy spaces of 1,000 sq.ft. to 3,000 sq.ft. in freestanding facilities. Preferred anchors include grocery stores. Plans call for two openings in the coming 18 months. Expansion will take place in PA. Preferred demographics include a population of 20,000 within three miles earning $35,000 as the average income. Leases running 20 years are typical.

For more information, contact Joseph McNally, Best Oil, Inc., 2939 Saw Mill Run Boulevard, Pittsburgh, PA 15227-2399; 412-884-8777, Fax 884-8486.

Busy Beaver Building Centers trades as Busy Beaver at 12 locations in PA. The home improvement stores occupy spaces of 32,000 sq.ft. in freestanding facilities and strip centers. Plans call for one opening in the coming 18 months. Expansion will take place in western PA.

For more information, contact Chuck Bender, Busy Beaver Building Centers, 3130 William Pitt Way, Building A6, Pittsburgh, PA 15238; 412-828-2323, Ext. 313, Fax 828-2430.

Bee-Gee Shoe Corp. trades as El-Bee Shoes and Shoebilee at 64 locations in IL, IN, MI, OH, PA, VA and WV. The stores, selling name brand shoes for the family, occupy spaces of 5,000 sq.ft. to 7,000 sq.ft. in freestanding facilities, regional malls, power and strip centers. Plans call for 10 openings in the coming 18 months. Expansion will take place in the existing markets.

For more information, contact Robert Bedore, Bee-Gee Shoe Corp., 3155 El-Bee Road, Dayton, OH 45439; 937-296-2805, Fax 296-4625.

 

Food Tenants Hungry for Sites Nationwide

Dynamic Pizza, Inc. trades as Papa John's Pizza at five locations in NY. The pizza restaurants occupy spaces of 1,200 sq.ft. to 1,600 sq.ft. in freestanding facilities and strip centers. Preferred co-tenants include drug stores, drycleaning stores and video stores. Plans call for 20 openings in the coming 18 months. Expansion will take place in upstate New York. Preferred demographics include a population of 50,000 within five miles earning $30,000 as the average income. Leases running five years, with two five-year options, are typical. The company prefers a vanilla shell and cites Domino's, Pizza Hut and Little Caesar's as competition.

For more information, contact Nat Siegel, Dynamic Pizza, Inc., 2499 Glades Road, Suite 106-B, Boca Raton, FL 33431; 561-447-7858, Fax 447-7834.

Family Restaurants of Florida, Inc. trades as Denny's at three locations in FL and NY. The family restaurants occupy spaces of 5,200 sq.ft. in freestanding facilities, power centers and regional malls. Preferred anchors include movie theaters. Plans call for six openings in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of 60,000 within five miles earning $35,000 as the average income. Leases running 15 years are typical and the company cites Shoney's and IHOP as competition.

For more information, contact Nat Siegel, Family Restaurants of Florida, Inc., 2499 Glades Road, Suite 106-B, Boca Raton, FL 33431; 561-447-7858, Fax 447-7834.

Lessing's, Inc. trades as Lessing's, The Ninth Hole and The Post Office Cafe at 34 locations in NY. The restaurants, featuring American cuisine, occupy spaces of 4,500 sq.ft. in downtown store fronts. Plans call for three openings in the coming 18 months. Expansion will take place in Long Island, NY. Preferred demographics include a population of 17,000 within three miles earning $56,000 as the average income.

For more information, contact Lawrence Lessing, Lessing's, Inc., 3 Consuelo Place, Oakdale, NY 11769-2005; 516-567-8200, Fax 567-8746.

Cozzoli's Pizza Systems, Inc. trades as Cozzoli's Pizzeria at 68 locations in CA, CO, FL, IN, MN, NV, OK, OR, TN, TX, VA and WA. The Italian restaurants occupy spaces of 1,600 sq.ft. in regional malls, outlet and power centers. Preferred anchors include movie theaters. Plans call for 15 openings in the coming 18 months. Expansion will take place in the existing markets. Leases running 10 years are typical.

For more information, contact Merrill Lamb, Cozzoli's Pizza Systems, Inc., 4770 Biscayne Boulevard #14, Miami, FL 33137; 305-576-1922, Fax 576-8831.

Carolina Yogurt, Inc. trades as TCBY at 20 locations in NC and SC. The stores, selling frozen desserts, occupy spaces of 1,200 sq.ft. to 1,600 sq.ft. in freestanding facilities and strip centers. Preferred co-tenants include Blockbuster Video, Wal*Mart and movie theaters. Plans call for as many as four openings in the coming 18 months. Expansion will take place in NC, especially in the western area, Charlotte and Research Triangle area. Leases running five years are typical.

For more information, contact Jack Chandler, Carolina Yogurt, Inc., 1980 East 116th Street #230, Carmel, IN 46032-3516; 317-848-0336, Fax 848-0305.

Hubb's Pub operates seven locations in FL and WA. The restaurants occupy spaces of 5,000 sq.ft. in freestanding facilities. Preferred co-tenants include movie theaters. Plans call for 18 openings in the coming 18 months. Expansion will take place in FL, IL, PA and WA. Leases running five years, with three five-year options, are typical. The company is franchising and cites Chili's as competition.

For more information, contact Rod Rhodinbach, Hubb's Pub, 895 Barton Boulevard South, Rockledge, FL 32955-2738; 407-639-5080, Fax 639-8050.

Huddle House, Inc. trades as Huddle House at 300 locations in AL, AR, FL, GA, KY, LA, MS, NC, SC, TN, TX, VA and WV. The restaurants occupy spaces of 2,000 sq.ft. in freestanding facilities. Plans call for as many as 80 openings in the coming 18 months. Expansion will take place in the existing markets. Leases running 15 years, with three five-year options, are typical. The company is franchising.

For more information, contact John McCormack, Huddle House, Inc., 2969 East Ponce de Leon Avenue, Decatur, GA 30030-2288; 404-377-5700, Fax 377-0497.

Cafe Enterprises does business as Fatz' Restaurant and J. Jr's at 13 locations in SC. The restaurants occupy spaces of 4,500 sq.ft. to 7,000 sq.ft. in freestanding facilities, regional malls, power and strip centers. Plans call for as many as three openings in the coming 18 months. Expansion will take place in NC and SC.

For more information, contact Chris Phillips, Cafe Enterprises, 4324 Wade Hampton Boulevard #B, Taylors, SC 29687; 864-322-1331, Fax 322-1332.

The Melting Pot Restaurants, Inc. trades as Melting Pot Restaurant at 46 locations in AZ, CO, DE, FL, GA, IL, IN, MD, MA, NY, NC, OH, OR, PA, SC, TN, TX, VA and Washington, D.C. The full service restaurants occupy spaces of 4,200 sq.ft. to 5,000 sq.ft. in freestanding facilities and specialty centers. Preferred anchors include upscale specialty retailers. Plans call for at least 10 openings in the coming 18 months. Expansion will take place in MN, MO, NV, NJ, PA, TX and WI. Leases running 10 years are typical and the company is franchising.

For more information, contact Mark Johnson, The Melting Pot Restaurants, Inc., 8406-G Benjamin Road, Tampa, FL 33634-1206; 813-881-0055, Fax 889-9361.

Jerry's Systems, Inc. trades as Jerry's Subs & Pizza at 100 locations in FL, MD, VA, WI and Washington, D.C. The restaurants, which feature pizza and submarine sandwiches, occupy spaces of 2,000 sq.ft. to 2,500 sq.ft. in downtown store fronts, regional malls and strip centers. Growth opportunities are sought in the Charlotte, NC area. The company is franchising.

For more information, contact Robbin Brinkhoff, Jerry's Systems, Inc., 15942 Shady Grove Road, Gaithersburg, MD 20877-1315; 301-921-8777, Fax 948-3508.

Pizza USA Management, Inc. trades as Pizza USA at nine locations in CA, FL, IA, KS and NY. The pizza restaurants occupy spaces of 700 sq.ft. in outlet centers and regional malls. Growth opportunities are sought in CA, FL and MI.

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

Consolidated Products, Inc. trades as Steak 'N Shake at 229 locations in AR, FL, GA, IL, IN, IA, KS, KY, MI, MO, NC, OH and TN. The restaurants occupy spaces of 3,750 sq.ft. in freestanding facilities. Plans call for 85 openings in the coming 18 months. Expansion will take place in the Midwestern and Southeastern regions. Preferred demographics include a population of 35,000 within three miles earning $45,000 as the median household income. Leases running 18 years, with options, are typical and the company is franchsing.

For more information, contact James Richmond, Consolidated Products, Inc., 36 South Pennsylvania Avenue, Indianapolis, IN 46204-3634; 317-633-4100, Fax 633-4105.

Italo's Pizza Shop, Inc. trades as Italo's Pizza Shop at 13 locations in OH. The pizza restaurants occupy spaces of 1,000 sq.ft. to 2,500 sq.ft. in freestanding facilities and strip centers. Plans call for one opening in the coming year. Expansion will take place in the existing market. The company is franchising.

For more information, contact Italo Ventura, Italo's Pizza Shop, Inc., 3560 Middlebranch Road Northeast, Canton, OH 44705-5012; 330-455-6428, Fax 455-7443.

Restaurant Developers Corporation does business as Mr. Hero at 121 locations and Arabica Coffeehouse at 16 locations in IL, IN, MD, MI, OH, PA and VA. The quick-serve restaurants occupy spaces of 1,600 sq.ft. to 2,400 sq.ft. in freestanding facilities and strip centers. Preferred anchors include movie theaters. Plans call for five openings in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of 25,000 within two miles earning $25,000 as the average income. Leases running 10 years are typical and the company, which is franchising, prefers a vanilla shell.

For more information, contact Mitchell Winick, Restaurant Developers Corporation, 5755 Granger Road #200, Independence, OH 44131-1442; 216-398-1101, Fax 398-0707.

Little Caesar's of Nashville trades as Little Caesar's Pizza at 26 locations in TN. The pizza restaurants occupy spaces of 1,200 sq.ft. in strip centers. Growth opportunities are sought in the existing market.

For more information, contact Donald Roberts, Little Caesar's of Nashville, 88 New Shackle Island, Hendersonville, TN 37075-2306; 615-826-8800.

X.S., Inc. does business as Zero's Mr. Submarine at 40 locations in NC and VA. The restaurants, serving submarine sandwiches, occupy spaces of 1,200 sq.ft. to 2,400 sq.ft. in freestanding facilities, power and strip centers. Preferred anchors include supermarkets. Plans call for 12 openings in the coming 18 months. Expansion will take place in the existing markets. Leases running 10 years are typical and the company, which is franchising, cites Blimpies and Subway as competition.

For more information, contact Gene Schmidt, X.S., Inc., 2106 Pacific Avenue, Virginia Beach, VA 23451-3343; 757-425-5745, Fax 422-9157.

Diamond Dave's Taco Co., Inc. trades as Diamond Dave's Mexican Restaurants at 37 locations in IL, IA, MN, MO, SD and WI. The Mexican restaurants occupy spaces of 2,000 sq.ft. to 3,000 sq.ft. in freestanding facilities and regional malls. Plans call for eight openings in the coming 18 months. Expansion will take place in the existing markets. Leases running 15 years are typical and the company is franchising.

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

Stuart Anderson's Restaurants, Inc. trades as Stuart Anderson's Black Angus at 104 locations in AK, AZ, CA, CO, HI, IN, MN, NM, OR and WA. The restaurants occupy spaces of 6,650 sq.ft. in freestanding facilities, regional malls, power and specialty centers. Preferred co-tenants include entertainment venues and malls. Plans call for 10 openings in the coming 18 months. Expansion will take place in the Western region. Preferred demographics include a population of 100,000 within five miles earning $40,000 as the average income. Leases running 20 years are typical.

For more information, contact Jan Martin, Stuart Anderson's Restaurants, Inc., 4410 El Camino Real #201, Los Altos, CA 94022-1049; 415-949-6400, Fax 949-6425.

MGW Group, Inc. does business as Cookie Bouquet and Cookies By Design at 157 locations nationwide. The stores, which sell cookies, occupy spaces of 1,200 sq.ft. to 1,500 sq.ft. in strip centers. Plans call for 24 openings in the coming 18 months. Expansion will take place nationwide. Preferred demographics include a population of 200,000 within 10 miles earning $30,000 as the average income. Leases running five years are typical and the company is franchising.

For more information, contact David Patterson, MGW Group, Inc., 6757 Arapaho Road #761, Dallas, TX 75248-4005; 972-239-7474, Fax 239-1144.

Togo's Eatery trades as Togo's at 200 locations in AZ, CA, CO, NV, OR and WA. The sandwich restaurants occupy spaces of 1,200 sq.ft. to 1,600 sq.ft. in freestanding facilities, power and strip centers. Preferred anchors include supermarkets ans drug stores. Plans call for 30 openings in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of 30,000 within three miles earning $40,000 as the average income. Leases running 10 years are typical and the company is franchising.

For more information, contact Marcelline Mahern, Togo's Eatery, 900 East Campbell Avenue #1, Campbell, CA 95008-2366; 408-377-1754, Fax 377-4130.

 

Closings

Kmart Corp. (810-643-1000) plans to close its store in Pittsfield, MA next month because the store's sales and profit expectations did not meet company requirements. The company has operated the store for 35 years.

Burlington Coat Factory (609-387-7800) recently closed its store at Pavilion Mall in Tukwila, WA.

Nobody Beats The Wiz (908-602-1900) plans to close three stores in the Boston, MA market and two stores in the Hartford, CT market. The company is closing the stores in an effort to concentrate on its 58 stores in the CT, NJ and NY markets.

Learning World (206-656-2900) recently closed its six remaining stores in WA and plans to file Chapter 11.

 

Buyers & Sellers

Century 21 House of Realty, Inc. has the listing to sell two nine acre tracts in Marion, IL. Each lot is located on a high visibility cloverleaf. The area is currently growing with the addition of several national brand retailers including Wal*Mart, Sam's Club, Sears, Target, Dillard's and several national chain restaurants. The asking prices are $995,000 for tract 1 and $997,500 sq.ft. tract 2.

For more information, contact Jeffrey Summers at (618-997-6495), Fax (997-1276).

CB Commercial Real Estate Group arranged the sale of a 1.7 acre parcel of land in Naperville, IL which will serve as the site of the fifth Walgreen's location in the city. The seller was Central DuPage Health System and the buyer was a local development company which is developing a 14,000 sq.ft., freestanding Walgreen's with a drive through. Completion is scheduled during Summer.

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

Timber Development brokered the sale of 5.5 acres of land in Peru, IN to Kroger Supermarkets. Kroger plans to develop a 55,000 sq.ft. store on the site.

For more information, contact Douglas Bercu at (404-257-9508).

Snyder, Sheets, Stewart & Goseland has the listing to sell 11 freestanding Taco Tico restaurants in KS and OK. The sites are corporate owned, have NNN leases and are being sold as a package. The asking price is $5.019 million.

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

Leon Lee & Associates has the listing to sell Raley's Center in Sacramento, CA. The project is anchored by Raley's Supermarket, Blockbuster Video, Radio Shack and Hometown Buffet. The asking price is $14.65 million. The company also has the listing to sell Union Square Marketplace in Union City, CA. The project is anchored by Safeway, Payless Drugs, Blockbuster Video and Hometown Buffet. The asking price is $21.75 million.

For more information, contact Leon Lee at (415-296-3868).

Dorset International Realty, Inc. has the listing to sell a 100,000 sq.ft. building in Barbados, West Indies. The facility is 100% occupied and has an asking price of $25 million.

For more information, contact James de Winter at (914-925-0700), Fax (967-5926).

New Plan Realty Trust recently acquired Regency Park Shopping Center in Jacksonville, FL. The 329,500 sq.ft. project is anchored by Rhodes Furniture, Service Merchandise, Marshalls, Baby Superstore and Outback Steakhouse. The company recently acquired Bethel Park Shopping Center in Bethel Park, PA. The 206,000 sq.ft. project is anchored by Ames, Giant Eagle, Pep Boys, Firestore, Pizza Hut, Wendy's and Long John Silver. The company also recently acquired Cave Spring Corners Shopping Center in Roanoke, VA. The 167,000 sq.ft. project is anchored by Kroger, Revco, Hills and Burger King.

For more information, contact Ron Frankel at (212-869-3000).

Colliers Macaulay Nicolls International brokered the sale of Gateway Center in Seattle, WA. The 69,542 sq.ft. project is anchored by Quality Food Center and Gateway Pharmacy. The sales price was $4.3 million. The company also brokered the sale of Shadle Center in Spokane, WA. The 281,691 sq.ft. project is anchored by Safeway, Payless Drugs and McDonald's. The sales price was $6.6 million.

For more information, contact Erin Conger, Richard Borsini or Paul Sleeth at (206-223-0866).

Mid-Atlantic Realty Trust recently acquired a portfolio of shopping centers in the Baltimore, MD metropolitan area from family members and affiliates of the Pechter Group. The acquisition comprised of 10 properties totaling more than one million sq.ft. The projects include: Enchanted Forest Shopping Center, Shawan Plaza Shopping Center, Glen Burnie Village Shopping Center, Ingleside Shopping Center, Radcliffe Shopping Center at Towson, Timonium Shopping Center, Timonium Crossing Shopping Center, Club Center at Pikesville, Perry Hall Shopping Center and Orchard Square Medical Office.

For more information, contact Paul Robinson at (410-684-2000).

LRA Realty Advisors, Inc. represented Mountcastle Corporation in its sale of Sunset Plaza Shopping Center in Chambersburg, PA to Sunset Real Estate LLC. The project is anchored by Food Lion.

For more information, contact Robert Rush at (215-957-1999), Fax (957-6570), e-mail (LRAConsult@aol.com).

Montgomery CV Realty, L.P. recently acquired County Line Plaza Shopping Center in Souderton, PA. The 175,000 sq.ft. project is anchored by Clemens Supermarket and Ames.

For more information, contact Charles Montgomery at (610-825-7100).

Venture Stores, Inc. recently agreed to sell 20 of its stores to Kmart Corp. Ten of the stores are located in Houston, TX; five in Dallas, TX; two in Indianapolis, IN and one each in Tulsa, OK; Des Moines and Waterloo, IA. The sales price was not disclosed and Kmart plans to take occupancy of the sites 60 days after closing.

For more information, contact Venture Stores at (314-281-5500) or Kmart Corp. at (810-643-1000).

Northeast Retail Leasing has the listing to sell Kmart Plaza in Keene, NH. The 145,500 sq.ft. project is anchored by Kmart, Walgreens and Payless Shoes. The asking price is $13.75 million and financing is available.

For more information, contact George Lee at (413-739-3300), Fax (739-0282).

Divaris Real Estate, Inc. brokered the sale of Newmarket Fair Mall in Hampton, VA. The project is anchored by Sears.

For more information, contact Gerald Divaris at (757-497-2113).

Sigma National, Inc. represented CBL & Associates Properties, Inc. in its acquisition of 11.385 acres of land in Portsmouth, VA for the development of Sterling Creek Commons Shopping Center. The project will be anchored by a 55,000 sq.ft. Hannaford Brothers Supermarket and is expected to open during Spring 1998.

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

U.S. Equities Realty, Inc. represented Massachusetts Mutual Life Insurance Co. in its sale of Washington Park Plaza Shopping Center in Homewood, IL. The 220,000 sq.ft. project is anchored by Jewel-Osco and Venture.

For more information, contact Jim Whittington at (312-456-7000).

Bradley Real Estate, Inc. recently acquired six community shopping centers in IL and IA for a total purchase price of $35 million. The center's include the 140,000 sq.ft. Sangamon Center North in Springfield, IL, anchored by Schnuck's Grocery and Revco Drug; the 106,000 sq.ft. Fairhills Shopping Center in Springfield, IL, anchored by Jewel Supermarket and Osco Drug; the 39,000 sq.ft. Parkway Pointe in Springfield, IL, anchored by a non-owned Target and Wal*Mart; the 46,000 sq.ft. Holiday Plaza in Cedar Falls, IA, anchored by a non-owned Aldi Supermarket; the 89,000 sq.ft. Burlington Plaza in Burlington, IA, anchored by Festival Foods; and the 63,000 sq.ft. Davenport Retail in Davenport, IA, anchored by Staples, PetsMart and a non-owned Target.

For more information, contact Thomas D'Arcy at (847-272-9800).

Cohen and Company, Inc. Real Estate has the listing to sell Plaza 12 Shopping Center in Carteret, NJ. The 66,358 sq.ft. project is anchored by Walgreens and McDonald's. The asking price is $5.05 million and financing is available.

For more information, contact Andrew Cohen or Helen Putterman at (212-679-1222), Fax (679-1533).

Draper & Kramer, Inc. represented a private investment trust in its acquisition of Wheaton Town Square in Wheaton, IL. The 175,000 sq.ft. project is anchored by Barnes & Noble, The Gap, Banana Republic, Talbots, Williams Sonoma, Ann Taylor and numerous Limited Co. stores. The new owners also appointed Draper & Kramer as the exclusive management and leasing agents of the project.

For more information, contact John Abell at (312-346-8600).

Flocke & Avoyer represented Kmart Corp. in its sale of one acre of land in Aliso Viejo, CA. The buyer was Michael Olander who plans to develop an Applebee's Neighborhood Grill & Bar on the site. The sale price was $925,000.

For more information, contact Steve Lewis or Michael Seiber at (619-280-2600), Fax (280-3311).

IRT Property Company recently acquired Greenwood Shopping Center in Palm Springs, FL for $12.95 million. The 134,132 sq.ft. project is anchored by Publix Supermarket.

For more information, contact W. Benjamin Jones III at (404-955-4406).

 

New Construction

Pacific Theatres Realty plans to develop a 240,000 sq.ft. shopping center in Westminster, CA on the site of the former Hi-Way 39 Drive-In. The new project will be anchored by a 137,000 sq.ft. Wal*Mart, Carl's Jr., Boston Market and Mobil Oil. Approximately 88,000 sq.ft. of space, as well as a 6,000 sq.ft. pad site, is available.

For more information, contact Neil Haltrecht of Pacific Theaters at (310-657-8420).

Denver Holdings, Inc. plans to develop two Albertsons anchored shopping centers in Arvada and Thornton, CO. Both projects are expected to open during Summer 1998.

For more information, contact Dan Yacovetta of Denver Holdings, Inc. at (303-338-9026), Fax (338-9029).

The Advance Group recently broke ground on Middle Brook Center in Bound Brook, NJ. The 104,000 sq.ft. project will be anchored by a 70,000 sq.ft. ShopRite and a 3,000 sq.ft. Burger King. Phase I of the project is expected to open during 1998.

For more information, contact Tom Michnewicz of The Advance Group at (908-719-3000).

Catellus Development Corporation (213-473-3157) plans to develop a 400,000 sq.ft. retail/entertainment complex in Mission Bay, CA. The anticipated uses include a multi-plex cinema, a large-format bookstore/music concept, themed restaurants, sports-related entertainment and boutique-style shops. The site will be located near the proposed new San Francisco Giants baseball stadium. A mid-to-late 2000 opening is expected.

For more information, contact Daniel Arian of Catellus Development Corp. at (213-473-3157).

 

Financial News

Heilig-Meyers Company (804-359-9171) reported that its first quarter net earnings increased to $13.8 million from $12.4 million during the first quarter last year. Total revenues for the quarter increased 58.2% to $566.3 million from $357.9 million last year. Comparable store sales increased 3.4% for the quarter. The company currently operates 989 stores trading as Heilig-Meyers, Rhodes, The RoomStores and Berrios (Puerto Rico).

Best Buy Co., Inc. (612-947-2000) reported a first quarter loss of $2.639 million compared to net income of $409,000 during the first quarter last year. Revenues for the quarter fell two percent to $1.607 billion from $1.637 billion and comparable store sales were down eight percent for the quarter. During its first quarter, the company opened two of its planned 13 stores for fiscal 1998. The company operates 274 stores in 32 states.

Quality Dining, Inc. (219-271-4600) reported that its second quarter total revenues were $71.1 million, up 28% from $55.4 million last year. A second quarter net loss of $201.7 million was posted, compared to net income of $2.1 million last year. The loss was attributed to the company's decision to divest its Bruegger's Bagel Bakery chain.

Bed Bath & Beyond, Inc. (908-688-0888) reported that its first quarter net earnings increased 28.6% to $9.9 million from $7.7 million last year. First quarter net sales increased 33.8% to $213.7 million from $159.7 million. Comparable store sales increased 6.8% for the quarter. The company currently operates 117 stores in 27 states.

Montgomery Ward & Co., Inc. (312-467-2000) recently filed for Chapter 11 protection and received a commitment from General Electric Capital Corporation for $1 billion in debtor-in-possession financing. However, many anaylsts predict that the company will not survive and will be liquidated before the end of 1998. The company operates 400 stores in 43 states.

 

Exclusives: Leasing & Management Assignments

Mid-America Asset Management Co. (630-954-7300) has been appointed the exclusive representative for 12 shopping centers encompassing 2.2 million sq.ft. The assignments include: the 411,145 sq.ft. The Quarry in Hodgkins, IL; the 220,009 sq.ft. Washington Park Plaza in Homewood, IL; the 203,095 sq.ft. Dempster Plaza in Niles, IL; the 200,000 sq.ft. The Shops at Oakbrook Place in Oakbrook Terrace, IL; the 190,000 sq.ft. Springbrook Center in Bloomingdale, IL; the 189,000 sq.ft. East Town Plaza in Madison, WI; the 181,000 sq.ft. Chatham Ridge in Chicago, IL; the 147,656 sq.ft. Market Meadows in Naperville, IL; the 146,750 sq.ft. Westmont Village in Westmont, IL; the 139,272 sq.ft. Riverview Plaza in Chicago, IL; the 128,457 sq.ft. Olympia Plaza in Chicago Heights, IL and the 111,978 sq.ft. Greenbrook Plaza in Hanover Park, IL. The company has also been named the exclusive leasing agent of The Shops of Heatherfield Shopping Center in Glenview, IL. The 87,548 sq.ft. project, which is under development, will be anchored by a 70,848 sq.ft. Jewel/Osco store. The site is expected to open during Winter.

Selig Realty, Inc. (404-876-5511) has been awarded the exclusive leasing agreement for the 100,000 sq.ft. Park Place in Atlanta, GA by Beacon Property Management. The company has also been named the exclusive leasing agent for the 100,000 sq.ft. Vinings Jubliee in Vinings, GA.

Legend Properties, Inc. (609-231-1010) has been named the exclusive agent for Best Friends Pet Resort & Salon in the Philadelphia, PA market. The 12,500 sq.ft. luxury pet lodging and care centers are planning to open three locations during the fourth quarter. The company has been named the exclusive agent for Silver Diner in its expansion into the Philadelphia, PA market. The company plans to open a 5,600 sq.ft. unit at Hillview Shopping Center in Cherry Hill, NJ. The company is the exclusive agent for Video Update in its expansion into DE, Delaware County, PA and southern NJ. The company is seeking 5,000 sq.ft. spaces in end caps, pad sites and outparcels. The company has been named the exclusive representative for Goddard School in Bucks, Montgomery, Lehigh and Berks counties in PA and Burlington, Camden and Gloucester counties in NJ. The company plans to open as many as 20 area units in the coming two years. Spaces from 6,100 sq.ft. to 7,600 sq.ft. are sought. The company has been named the exclusive tenant rep for U.S. Restaurant Properties M.L.P. in the Philadelphia, PA area. The company currently operates 327 restaurants in 41 states and is looking to buy, finance and lease out existing facilities. The company has been named the exclusive tenant rep for MedMax in the Philadelphia, PA market. Three leases in the area have recently been signed. The company has also been named the exclusive leasing agent of Parktown Plaza in Royersford, PA. A 30,000 sq.ft. former supermarket is available for lease.

Sevell Duncan Realty Services, Inc. (561-995-0100) is exclusively subleasing 30 former Winn-Dixie stores in the following FL cities: Belleview, Boca Raton, Crystal River, Davie, Delray Beach (2), Hudson, Indian Harbour, Juno Beach, Juptier, Leesburg, Longwood, South Miami, Miramar, New Smurna Beach, Orlando (2), Panama City, Perry, Port Orange, Sanford, Sebastian, Spring Hill, St. Petersburg, Sun City, Sunrise, Tampa, Venice, Vero Beach and Winter Haven. Sites range in size from 25,600 sq.ft. to 73,890 sq.ft.

Ronald Markowitz Real Estate, Inc. (216-473-3988) represents Rite Aid Corporation in its disposition of surplus properties in OH. More than 50 properties are available. Sites range in size from 4,800 sq.ft. to 20,000 sq.ft.

The Schultz Brokerage Services Group (908-855-0001) has been appointed the exclusive leasing agent for Brick-88 by ARC Properties. Brick-88 is a proposed 50,000 sq.ft. redevelopment project with two pad sites in Brick, NJ. The site is located adjacent to a 125,000 sq.ft. Wal*Mart store, Pathmark, Price Club and Kmart.

Associated Realty, Inc. (201-316-8666) has been named the exclusive leasing agent for Route 10 Retail Center in East Hanover, NJ. The 120,000 sq.ft. site can be developed as one or two freestanding buildings and is located near Cosco, Sports Authority, OfficeMax, Bob's and a 12-plex Sony Theater.

Sholom & Zuckerbrot Realty Corporation (718-392-5959) has been named the exclusive leasing agent for the proposed 60,000 sq.ft. Conklin Plaza in Babylon, NY. A fall 1998 opening is planned. The project is located across from a 14-screen Multiplex Cinemas.

The Greenberg Group, Inc. (516-295-0406) has been appointed the exclusive real estate agent for Imaginarium. The company's expansion will initially concentrate on the Northeast with upscale specialty centers, affluent villages and downtown store fronts preferred.

The Realty Brokerage, Inc. (732-517-0100) has been named the exclusive leasing agent for Keyport Plaza in Keyport, NJ. The 76,000 sq.ft. project, to be developed at the intersection of Highway 35 and Highway 36, will be anchored by Edwards Food Store with two restaurants and an additional 12,000 sq.ft. of retail space available.

 

Who's Opening & Where

Wawa (610-358-8000) recently opened a 5,700 sq.ft. convenience store with a gasoline station in Jackson Township, NJ.

Home Depot (770-433-8211) is planning to open a store in Idaho Falls, ID.

Archibald Candy Corp. (312-243-2700) plans to open as many as four Fanny May candy kiosks in Phoenix, AZ area malls during November.

Cinemark USA, Inc. (214-696-1644) plans to open a 50,000 sq.ft., 14-screen movie complex at Oak Ridge Mall in Oak Ridge, TN during Fall 1998.

Espirit de Corp. (415-550-3738) plans to open 14 stores before the end of the year. The first unit recently opened at Roosevelt Field Mall in Garden City, NY.

Gadzooks, Inc. (972-991-5500) recently opened a store in Atlanta, GA, the company's 200th unit. Plans call for another 50 openings before Christmas of this year and expansion into the Northeastern region with 100 stores in the coming years. The company needed 11 years to open its first 100 stores but only two years to open its second 100 stores.

TVI, Inc. (206-450-2327) plans to open a Savers Thrift store at a former Sentry Food store in Madison, WI during Fall.

Famous Dave's of America, Inc. (612-557-5798) plans to open a 4,400 sq.ft. restaurant in Winona, MN during the fourth quarter this year.

Borders, Inc. (313-913-1323) plans to open a 25,000 sq.ft. Borders Books Music & Cafe store in Plantation, FL during Fall.

AutoZone (901-495-6500) recently opened a 7,800 sq.ft. store in El Centro, CA, the company's first entry into CA and its 31st state overall.

Wal*Mart Stores (501-273-4000) recently opened a 125,000 sq.ft. store at Wickford Junction in North Kingstown, RI and its first store in Spokane, WA.

Cracker Barrel Old Country Store (615-444-5533) plans to open a restaurant at Tanger Outlet Center in Gonzales, LA during December.

 

Lead Sheet

J.H.D. Enterprises Ltd.

dba Lim's Mens Wear,

Ladies' Fashion & Wig Shop

Yul Lim

101 South Center Street

Goldsboro, NC 27530-4828

919-735-0155, Fax 735-0059

Apparel

The 13-unit chain operates locations in NC and VA. The men's and women's apparel stores occupy spaces of 2,500 sq.ft. in regional malls. Plans call for three openings in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of 30,000 within five miles earning $40,000 as the average income. Leases running 10 years are typical.

Trak Auto

dba Super Trak, Classic Trak,

Super Trak Warehouse

R. Keith Green

3300 75th Avenue

Landover, MD 20785-1501

301-731-1200, Fax 731-1310

Automotive

The 286-unit chain operates locations in CA, IL, IN, MD, PA, VA and Washington, D.C. The automotive supply stores occupy spaces of 8,500 sq.ft. in freestanding facilities, power and strip centers. Preferred co-tenants include supermarkets and do-it-yourself home centers. Plans call for 30 openings in the coming 18 months. Expansion will take place in the Midwestern, Northeastern and West Coast regions. Preferred demographics include a population of 100,000 within three miles earning $40,000 as the average income. Leases running five years are typical and the company prefers a turn-key deal.

Ammar's, Inc.

dba Magic Mart

K. Ammar

710 South College Avenue

Bluefield, VA 24605-1639

540-322-4686, Fax 326-1060

Discount

The 20-unit chain operates locations in KY, VA and WV. The discount stores occupy spaces of 45,000 sq.ft. in freestanding facilities and strip centers. Preferred co-tenants include supermarkets. Plans call for one opening in the coming 18 months. Expansion will take place within the existing markets. Preferred demographics include a population of 15,000 within 10 miles earning $13,000 as the average income. Leases running 10 years are typical.

Eckerd Corporation

dba Eckerd Drug Store

Thomas Nash

8333 Bryan Dairy Road

Largo, FL 34647-1230

813-399-6355, Fax 399-7888

Drug Store

The 2,697-unit chain operates locations in FL, GA, LA, MD, MS, NJ, NC, OK, SC, TN and TX. The drug stores occupy spaces of 10,908 sq.ft. in freestanding facilities. Preferred co-tenants include video stores. Plans call for 200 openings during its fiscal 1998 year. Expansion will take place in the existing markets. Preferred demographics include a population of 50,000 within two miles earning $50,000 as the average income. Leases running 20 years are typical and the company cites Walgreens as competition.

JF Esselman, Inc.

dba HH Gregg

Jack Esselman

9000 Keystone Crossing #730

Indianapolis, IN 46240

317-844-6833, Fax 574-0481

Electronics

The 17-unit chain operates locations in KY, IN and TN. The stores, selling consumer electronics and appliances, occupy spaces of 20,000 sq.ft. to 40,000 sq.ft. in freestanding facilities and power centers. Plans call for two openings in the coming 18 months. Expansion will take place in TN and IN.

Greater Huntington Theatre Corp.

dba Greater Huntington Theatre

Derek Hyman

401 11th Street, Suite 805

Huntington, WV 25701

304-523-0185, Fax 525-1153

Entertainment

The five-unit chain operates locations in TN and WV. The movie theaters occupy spaces of 25,000 sq.ft. in freestanding facilities, regional malls and strip centers. Growth opportunities are sought in WV.

Carolina Bedrooms, Inc.

dba Carolina Bedrooms

5005 Smith Farm Road

Matthews, NC 28105-8134

704-821-2800, Fax 821-3544

Furniture

The seven-unit chain operates locations in GA, NC, SC and VA. The furniture stores occupy spaces of 4,500 sq.ft. in freestanding facilities. Plans call for 10 openings in the coming 18 months. Expansion will take place in NC and SC. Preferred demographics include a population of 50,000 within 10 miles earning $40,000 as the average income. Leases running five years are typical.

Quality Stores, Inc.

dba Quality Farm & Fleet, County Post

Donald Kettler

PO Box 3315

Muskegon, MI 49443-3315

616-798-8787, Fax 798-0134

General Merchandise

The 103-unit chain operates locations in IN, MI, NY, OH, PA, VA and WV. The stores, selling agriculture supplies, hardware, home improvement supplies and automotive parts, occupy spaces of 30,000 sq.ft. to 40,000 sq.ft. in freestanding facilities and strip centers. Plans call for 18 openings in the coming 18 months. Expansion will take place in the existing markets as well as in KY.

Cartoon Cuts

Kathleen Perkal

5501 Blacklick Road, Suite 115

Springfield, VA 22151

703-354-3801, Ext. 209, Fax 354-4431

Hair Salon

The 19-unit chain operates locations in FL, GA, MD, NJ, PA and VA. The children's hair salons occupy spaces of 1,000 sq.ft. to 1,200 sq.ft. in regional malls. Plans call for six openings in the coming 18 months. Expansion will take place in the existing markets.

Lampert Yards

dba Lampert's, Scott Lumber,

Lampert Home Center

Daniel Fesler

1850 Como Avenue

Saint Paul, MN 55108-2715

612-645-8155, Fax 645-5814

Home Improvement

The 39-unit chain operates locations in IA, MN, SD and WI. The home improvement stores occupy spaces of 4,000 sq.ft. in freestanding facilities. Plans call for one opening in the coming 18 months. Expansion will take place within the existing markets.

Houseware Distributors, Inc.

dba Bargain Outpost

Nola Depies

PO Box 855

West Bend, WI 53095

414-334-1095, Fax 334-6017

Housewares

The company operates one unit in WI. The stores, selling housewares, tableware and home decor items, occupy spaces of 2,500 sq.ft. in freestanding facilities. Growth opportunities are sought in the existing market.

Sedgwick Sales, Inc.

dba Golden Chain Gang, Grand Illusion,

Golden Chain International

Gregory Stapley

1040 Calle Recodo

San Clemente, CA 92673-6267

714-366-8610, Fax 366-8620

Jewelry

The 180-unit chain operates locations nationwide. The jewelry stores occupy kiosk spaces running 200 sq.ft. in regional malls. Preferred anchors include fashion retailers. Plans call for 32 openings in the coming 18 months. Expansion will take place in CA, the East Coast, Midwest, Southeast and Four Corners area. Leases running three years are typical.

Clean Rite Cleaners

Timothy King

c/o Fillmore Real Estate, Inc.

1856 Flatbush Avenue

Brooklyn, NY 11210

718-253-8828, Fax 253-8432

e-mail: NYStoreman@aol.com

Laundromat

The 12-unit chain operates locations in NY. The laundromats occupy spaces of 4,500 sq.ft. to 6,000 sq.ft. in freestanding facilities and strip centers. Plans call for two openings per month. Expansion will initially take place in the metropolitan New York City area with nationwide expansion planned by 2001. Leases running 20 years are typical and the company also purchases sites.

Southern States Co-Op, Inc.

dba Southern States

Vincent Bailey

6606 West Broad Street

Richmond, VA 23230-1702

804-281-1357, Fax 281-1396

Specialty

The 200-unit chain operates locations in DE, KY, MD, NC, VA and WV. The stores, selling feed and seed, occupy spaces of 10,000 sq.ft. to 20,000 sq.ft. in freestanding facilities. Preferred co-tenants include supermarkets. Plans call for two openings in the coming 18 months. Expansion will take place in VA and WV. Leases running five years are typical.

Soccer 4 All

Ed Camara

1306 FM 1092 Road

Missouri City, TX 77459-1531

713-499-6665, Fax 499-7411

Sporting Goods

The eight-unit chain operates locations in TX. The stores, selling soccer apparel, footwear and equipment, occupy spaces of 1,200 sq.ft. to 2,000 sq.ft. in strip centers. Plans call for two openings in the coming 18 months. Expansion will take place in LA and TX. Leases running three years are typical.

The Learning Express, Inc.

dba The Learning Express

Lou Di Minico

76 Farmers Row

Groton, MA 01450

508-448-2333, Fax 448-9995

Toys

The 50-unit chain operates locations in CA, CT, FL, KY, MA, NC, NH, NJ, OH, OR, PA, RI, TX, WI and WA. The toy stores occupy spaces of 2,000 sq.ft. to 3,500 sq.ft. in downtown store fronts, strip and specialty centers. Growth opportunities are sought in AZ, FL, IN, ME, NC, NJ, NY, OH, PA, SC, TN and WA.

Knapp Video

Jack Knapp

275 Center Street

Newton, MA 02158

617-965-8244, Fax 965-3401

Video

The 14-unit chain operates locations in MA and RI. The video stores occupy spaces of 5,000 sq.ft. to 8,000 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 the existing markets.

 

Mergers & Acquisitions

Cineplex Odeon Corp. (416-323-6600) is talking merger with Sony Corp.'s Loews Theatres. If the deal takes place, the combined company would create the second largest theater chain in North America.

Wild Oats Markets, Inc. (303-689-9258) recently signed a purchase agreement to acquire three Reay's Ranch Markets located in Phoenix and Scottsdale, AZ. Wild Oats plans to change the name of the stores to Wild Oats Community Markets. The acquisition gives Wild Oats 50 locations in 11 states and British Columbia, Canada.

Ostrow Textiles (803-324-4284) recently acquired 40 stores in FL and GA from Linen Supermarket for $8.5 million. After acquiring the units, Ostrow sold four stores in Atlanta, GA and 14 stores on the west coast of FL to a liquidator and closed three other stores. Ostrow Textiles currently operates 28 linen stores trading as Plej's Linen Supermarkets in NC and SC.

Gottschalks, Inc. (209-434-4744) recently signed a non-binding letter of intent with El Corte Ingles S.A. to acquire the Harris Company, operator of Harris Department Stores, a nine-unit chain operating in Southern CA. As part of the deal, El Corte Ingles would receive three million shares of Gottschalks' common stock and would receive $11.5 million of eight percent junior subordinated debt, due in 2004. El Corte Ingles would also loan Gottschalks $2 million, exchangeable for Gottschalks' common stock at Gottschalks' option, to refurbish the Harris stores, and will commit to an additional $10 million at Gottschalks' option. If the transaction is consummated, El Corte Ingles would become the single largest shareholder in Gottschalks and will be given two seats on an expanded Board of Directors. A definitive agreement is expected to be signed next month and the deal is expected to be completed during October.

Heilig-Meyers Co. (804-359-9171) recently acquired Mattress Discounters in a stock deal valued at $47.9 million. Mattress Discounters operates 169 stores and has plans to open as many as 25 units this year.

Grow Biz International, Inc. (612-520-8500) recently signed a letter of intent to acquire Video Games Exchange which operates 40 stores in GA, KY, MD, OH and PA. The stores buy, sell and trade used video games and equipment. The acquired stores will be converted to the It's About Games concept being started by Grow Biz.

The Krystal Company (423-785-8281) recently entered into a merger agreement with Port Royal Holdings, Inc. in which a wholly-owned subsidiary of Port Royal Holdings will merge with Krystal. The Krystal Company operates 249 restaurants in AL, AR, FL, GA, KY, MS, SC and TN.

Jitney-Jungle Stores of America, Inc. (601-949-5468) and Delchamps, Inc. recently entered into a definitive agreement under which Jitney-Jungle will acquire Delchamps. Delchamps operates 118 supermarkets in AL, FL, LA and MA as well as 10 liquor stores in FL. Jitney-Jungle operates 21 discount stores, 77 conventional store and seven combination stores in AL, AR, FL, LA, MS and TN.

Moovies, Inc. (864-213-1700) and Video Update, Inc. recently entered into an agreement in which Video Update will acquire Moovies in a stock-for-stock merger. The agreement calls for each stockholder of Moovies to receive 1.1 shares of Video Update Class A Common Stock for each share of Moovies Common Stock. Moovies operates and franchises 317 video stores in 17 states and Video Update operates and franchises 389 video stores throughout North America.

 

Space Place

Florida

Tampa- A 40,000 sq.ft freestanding former Levitz Furniture store is available for sublease. The site fronts I-275 and the initial lease term expires in September 2007.

For details, contact Sevell*Duncan Realty Services, Inc. at (561-995-0100).

Illinois

Olympia Fields- Olympia Corners Shopping Center is anchored by Jewel/Osco and Giant Auto. The 113,167 sq.ft. project has spaces of 2,570 sq.ft. and 2,666 sq.ft., as well as a pad site, available for lease.

For details, contact Russ Hire of Equity Investment Group at (219-426-4704), Fax (424-3615).

Indiana

LaFayette- LaFayette Market Place is anchored by Kmart, PetsMart, Staples, Michaels, Old Country Buffet, Ruby Tuesday, Allied Sports, Factory Card Outlet, Hollywood Video, Pier 1 Imports, Cato, Dots and Dollar Tree. The 350,000 sq.ft. project has a 7,000 sq.ft. space available for lease. The site is located across from Tippecanoe Regional Mall.

For details, contact Douglas Bercu of Timber Development Corp. at (404-257-9508).

New Jersey

Bayville- Baywick Plaza is anchored by Super Foodtown, Thrift Drug, World Gym, West Coast Video, Crazy Joe's Furniture and Burger King. The 157,000 sq.ft. project has spaces from 1,125 sq.ft. to 16,400 sq.ft. available for lease. In Edison- Wick Shopping Plaza is anchored by Pathmark, TJ Maxx, Annie Sez, Petco and Ideal Tile. The 212,000 sq.ft. project has spaces of 4,725 sq.ft. and 6,320 sq.ft. available for lease. Also in Edison- Tano Mall is anchored by A&P Sav-A-Center and Thrift Drug. The 115,000 sq.ft. project has spaces of 1,600 sq.ft. and 2,400 sq.ft. available for lease.

For details, contact Chris Levey or Jon Freeman of The Wick Agency at (908-750-4444), Fax (750-0178).

New York

Cicero- An 8,500 sq.ft. freestanding former Peter Harris Clothing store is available for lease. The site is located at the intersection of Route 11 and Circle Drive, across from MarketPlace Mall, Home Depot and Wegmans Grocery. In Clay- Space is available for anchor and big box tenants, with eight outparcels, at a proposed 539,000 sq.ft. open air shopping center fronting Route 31. The project, which has a planned 1999 opening, will be located near Sam's Club, Wal*Mart and Wegmans. In DeWitt- A freestanding 35,349 sq.ft. former Grossmans store is available for lease. The site fronts Route 5. In North Syracuse- Northern Lights Shopping Center is anchored by Builders Square, Media Play, Michaels, TJ Maxx, Staples, Champion Factory Outlet, Fashion Bug and Parts America. The 407,000 sq.ft. project has a 28,786 sq.ft. former Big Lots store available for lease.

For more information, contact Larry Socia of Pyramid Brokerage Company, Inc. at (315-445-8501).

Ohio

Dayton- Northwest Plaza is anchored by Elder-Beerman, Kroger and Heilig-Meyers. Other tenants include Kay Bee Toys, Hallmark, Radio Shack, Fashion Bug, Rite Aid and El-Bee Shoes. The 450,000 sq.ft. project has 60,000 sq.ft. available for lease.

For details, contact Pete Nichols of Miller-Valentine Realty, Inc. at (937-297-3259), Fax (299-1564).

Pennsylvania

Greensburg- Gabriel Brothers Plaza is anchored by Gabriel Brothers. The 123,317 sq.ft. project has spaces of 2,000 sq.ft., 3,975 sq.ft., 4,031 sq.ft., 5,030 sq.ft., 5,525 sq.ft. and 20,021 sq.ft. available for lease.

For details, contact Parry Petroplus of Petroplus & Associates, Inc. at (800-599-3001), Fax (598-3305).

Wyncote- Cedarbrook Plaza is anchored by Caldor, Toys R Us and Pathmark. The 520,000 sq.ft. project has spaces of 1,500 sq.ft., 3,000 sq.ft. and 17,000 sq.ft. available for lease.

For details, contact Dennis Cieri of Cedarbrook Plaza, Inc. at (212-643-8080), Fax (643-2626).

 

Lease Signings

Boyd, Page & Associates (713-877-8400) leased 50,000 sq.ft. to Hobby Lobby at Mainland Crossing Shopping Center in Texas City, TX and 26,332 sq.ft. to Toys 'R Us and 26,300 sq.ft. to Comp USA at Colony Square Shopping Center in Houston, TX.

Levin Management Corporation (908-755-2401) leased 45,000 sq.ft. to Hamrick's, 5,220 sq.ft. to Anntony's and 900 sq.ft. to Hickory Plaza Barber at Hickory Plaza in Hickory, NC; and 9,850 sq.ft. to Parts America and 1,800 sq.ft. to Fair Ground Hair Styling Salon at Fair Ground Plaza in Mount Holly, NJ.

James E. Hanson, Inc. (201-488-5800) leased 1.25 acres of land to Walgreen Co. in Elmwood Park, NJ. The site has a former Roy Rogers restaurant which will be demolished and a 13,908 sq.ft. Walgreens unit will be developed in its place.

Koll Retail Group (714-857-7940) leased 1,200 sq.ft. to Fashion Star at Driftwood Village in San Bernardino, CA and 900 sq.ft. to Enterprise Rent-A-Car at Diamond Bar Towne Center in Newport Beach, CA.

The Goldstein Group (201-703-9700) recently completed eight transactions totaling over 40,000 sq.ft. of space with CVS in Garfield, NJ; Lucille Roberts in Nanuet, NY; Great American Video in Midland Park and Washington Township, NJ and Radio Shack in Hoboken and Hackensack, NJ and Yorktown and Haverstraw, NY.

First National Development, Ltd. (312-527-9800) leased 8,000 sq.ft. to Hollywood Video at Bridgeview Cub Center in Bridgeview, IL; 6,143 sq.ft. to Hollywood Video at The Landings Shopping Center in Lansing, IL; 10,000 sq.ft. to Hollywood Video at Little Road Shopping Center in Arlington, TX and 7,000 sq.ft. to Hollywood Video, 1,200 sq.ft. to Blast Camp Recreational Games, 668 sq.ft. to Check 'N Go, 1,267 sq.ft. to Baskin Robbins, 3,000 sq.ft. to Centennial Communications and 1,200 sq.ft. to Cigarettes Cheaper at Michigan City Town Center in Michigan City, IN; 3,600 sq.ft. to Rock Financial, 3,000 sq.ft. to Paging Network of IL and 9,000 sq.ft. to Fashion Bug at The Landings Shopping Center in Lansing, IL.

National Realty & Development Corp. (914-694-4444) leased 54,000 sq.ft. to Steinbach Department Store at Hawley Lane Mall in Trumbull, CT; 4,500 sq.ft. to Christian Light Bookstore, 3,000 sq.ft. to Great Wall Chinese Restaurant and 5,000 sq.ft. to Video Update at Kmart & Lowe's Shopping Center in Lebanon, PA and 1,500 sq.ft. to Modern Nail Salon at Shrewsbury Plaza in Shrewsbury, NJ.

United Commercial Realty (214-526-6262) leased 8,686 sq.ft. to Powerhouse Gym at Park Pavillion Shopping Center in Plano, TX; 10,000 sq.ft. to Sav-On Office Supplies at The Marketplace in Dallas, TX; and 4,500 sq.ft. to Glorias Restaurant and 1,800 sq.ft. to Starbucks in Dallas, TX.

Kimco Realty Corp. (516-869-7180) leased 43,000 sq.ft. to The May Department Stores Company for a Lord & Taylor Clearance Center at Lake Grove Shopping Center in Lake Grove, NY.

Grubb & Ellis (714-937-0881) leased 11,000 sq.ft. to Golden Corral Restaurant at Plaza de la Fiesta I Shopping Center in Huntington Beach, CA.

Litvin/LaRue/Greenfield Commercial Real Estate, Inc. (708-773-1555) leased 27,466 sq.ft. to Wickes Furniture at a former Best Buy location at Bedford City Square Shopping Center in Ford City, IL; 14,000 sq.ft. to Powerhouse Gym and 6,452 sq.ft. to Fruitful Yield at Sportmart Shopping Center in Lombard, IL and 3,000 sq.ft. to Soccer Post at a former Payless ShoeSource site in Darien, IL.

For more information, contact George Lee at (413-739-3300), Fax (739-0282).

Divaris Real Estate, Inc. brokered the sale of Newmarket Fair Mall in Hampton, VA. The project is anchored by Sears.

For more information, contact Gerald Divaris at (757-497-2113).