The Dealmakers Issue Number 44 for the week of December 5, 1997.

My Way by Ted Kraus

I just got off the phone with a "developer" friend; who, to say the least, was steaming and stuttering. I asked what was wrong and was told that he had just left a meeting with a retailer that's in six of his centers. The retailer wanted (and received) a rent reduction in all of the properties. I asked if the retailer had a "kick out" or short term leases and was told no; so I asked "Why give the reduction if you don't want to?"

It seems that when the merchant did the original deals, he told the developer they do all leases with a shell corporation. The developer was willing to accept that if the leases were guaranteed. The retailer agreed and everything proceeded. When the tenant met with the owner for the rent reduction and was originally told no; he informed the developer that the "guarantor" for the six sites was also a shell, so if he doesn't get what he wants, he'll close and the center has no one of worth to sue. After much discussion, the rent reduction was agreed to. Now while I can understand why my friend was upset; it was his own fault; he never checked if the guarantor was any good or even who the guarantor was. In this industry, trusting people or companies is not where its at anymore.

On a different note, a friend of mine (yes, I have more than one), Bob Kahn publishes Retailing Today (510-254-4434) one of the most insightful and entertaining newsletters on retailing published. In his last issue he wrote about "What happened to retailing in the first six months of 1997." Without plagiarizing his publication, he basically gave a recap of how business was for January through June '97 compared to January through June '96. Summarizing it all, the retail industry is doing well, running the gamut from apparel sales being up only 1.2% (below CPI) to drug stores up 8.9%. Category leaders are building material (+8.3%), furniture and home furnishing (+7.2%), discount stores (+9%) and variety (99 cent stores, "Dollar General", etc.) (+8.3%). Big losers were jewelry stores (-3.8%) grocery stores (+1.7%) gas stations (+1.8%)and apparel (+1.2%).

What I found most interesting is that discount stores did 73% more volume than conventional department stores, so while we consider the conventional department store the "true anchor," the great unwashed shop at the Targets, Kmarts and Wal*Marts of the world, they're the real anchors, Bob's report shows retailing is still on the right track and while I am not an optismistic person, it appears we still have at least six months of prosperity ahead of us before the world comes to an end.

Rambling on, a few weeks ago I wrote about the Internet changing the face of retailing, office use and where we lived. My conclusion being the Net will "push" middle class America into smaller and perceived cheaper and safer communities. Well the last few weeks I've also gotten calls from several retailers expanding into these secondary/tertiary locations, but they're not wanting to be there because of the Net, but because of cheaper rents and operating costs. Wal*Mart proved money could be made in these hick communities and the rest are following. I've gotten calls from movie theatre chains wanting these fringe markets because they can do deals "as is" for $3-4, junior department stores feel the same and of course, Family Dollar and Dollar General have been doing these and better deals for years. The restaurant chain Bob Evans is building smaller units in smaller communities, so as to be able to expand profitably. I've always advised our clients against investing in these smaller towns because of the leasing difficulties, and while I still feel that way, it appears leasing in these smaller communities is becoming easier.

Parting complaint... "Does anyone know what they are doing? More importantly, do they care?" A client asked us to check out a package (17) of former restaurant sites that were recently put on the market. I called the large, national brokerage firm handling the account and asked to speak to whoever was handling the sites. That took five phone tansfers to find out who. I was then told by their secretary that before I could talk to the broker, they had to fax me the fact sheets on the sites (we're talking a potential $17 million dollar deal, not the world, but a lot more than I made last week. I'm from the old school, if I have a potential buyer/tenant, I make access to me real easy, not difficult.) Usually I'm told the reason being is the broker is very busy, well who do you know in today's world that isn't? If you're that busy you shouldn't be handling the account.

Anyway I gave 'em my fax number and waited and waited and waited. After five hours I called back and was told I'd receive it shortly. Finally, 24 hours after providing my fax number, the info was sent (I did ask if there was a WEB site I could download the information from, but the reaction was I was talking in a foreign language). I reviewed the package with our client and came up with 10 sites they were interested in. I called back the broker and was offered to have the package faxed to me again. I explained I didn't need the package, I needed to talk to an intelligent, knowledgeable human being; was any available? I was basically told no, they don't know anything about the sites at this office, I had to contact the local reps. For the 10 sites involved, there are three brokers involved (all ten sites are within a 75-mile radius, so why one person couldn't handle 'em all I have no idea). Getting these names and numbers took another day. I then called all three brokers and left word on their voice mail (there was no way to speak to a human being provided). Within two days I had spoken to two of the three brokers and asked if they could show me the site(s). To be able to meet the broker and see six of the ten sites would take another week, minimum. (I already had a week into phone calls.) I set up tentative meetings (the brokers are very busy and these sites don't pay a high commission, so I'm low on their hit list). I then continued to leave messages for broker number three, who after four days finally returned the called. We set up a meeting to see his four sites two weeks from then. If everything goes right (and I doubt it will) it will take one month from the start of my inquiry to seeing all of the sites and meet the necessary brokers. This is totally stupid. And to make matters worse, I spoke to the head of real estate for the company that was the original tenant and they're happy with the results to date (it's been five months, no sites have been sublease/sold yet). If he's happy, it explains why 1) they didn't handle it internally and 2) he has no clue how real estate should be done.

Apparel Retailers Seeking Eastern Sites

G&G Shops, Inc. trades as G&G, Rave, Authentika and American High at 420 locations in 40 states, Puerto Rico and the U.S. Virgin Islands. The stores, selling junior and ladies ready-to-wear apparel, occupy spaces of 2,000 sq.ft. to 2,500 sq.ft. in regional malls. Preferred co-tenants include Buckle, Gadzooks, Pacific Sunwear and Wet Seal. Plans call for 30 openings during 1997 and 40 openings during 1998. Expansion will take place in the existing markets. Leases running five years are typical and the company cites local chains as competition.

For more information, contact Josh Podell or Richard Rubino, G&G Shops, Inc., 520 8th Avenue, New York, NY 10018; 212-279-4961, Fax 714-1680.

Maurice Corp. trades as Maurice The Pants Man at nine locations in MA. The men's casual sportswear stores occupy spaces of 3,000 sq.ft. to 3,500 sq.ft. in strip centers. Preferred anchors include supermarkets. Plans call for six openings in the coming 18 months. Expansion will take place in the existing market. Leases running five years are typical.

For more information, contact Ria McNamara, Maurice Corp., 1000 Boston Turnpike, Shrewsbury, MA 01545; 508-845-5000, Fax 842-6100.

R.P. McCoy Apparel Ltd. does business as Labels for Less at 14 locations in NY. The women's apparel stores occupy spaces of 2,500 sq.ft. to 8,000 sq.ft. in downtown store fronts, freestanding facilities and strip centers. Plans call for three openings in the coming 18 months. Expansion will take place in the existing market. Leases running 15 to 20 years are typical.

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

Danice Stores, Inc. trades as Danice Stores at eight locations in NY. The women's apparel stores occupy spaces of 5,000 sq.ft. in power centers. Preferred anchors include Kmart, TJ Maxx and Wal*Mart. Plans call for two openings in the coming 18 months. Expansion will take place in the existing market. Preferred demographics include a population of 100,000 within one mile earning $50,000 as the average income. Leases running 10 years are typical.

For more information, contact Barry Group, Danice Stores, Inc., 482 Fulton Street, Brooklyn, NY 11201; 718-875-0664, Fax 797-1895.

Athletes International, Inc. trades as Shenk Bros., Sports Page and Styles West at 13 locations in NJ and PA. The stores, selling young men's and junior's branded casual apparel and footwear, occupy spaces of 1,800 sq.ft. to 2,500 sq.ft. in regional malls. Preferred anchors include upscale department stores. Plans call for 20 openings in the coming 18 months. Expansion will take place in DE, MD, NY and OH. Preferred demographics include a population of 250,000 within 10 miles earning $38,000 as the average income. Leases running 10 years are typical and the company cites Pacific Sunwear as competition.

For more information, contact Wayne Jackson, Athletes International, Inc., 26-28 West King Street, Lancaster, PA 17603; 717-396-7990, Fax 396-7994.

Hajjar's Clothing Cos., Inc. trades as Hajjar's Big & Tall at seven locations in MA and NH. The stores, selling apparel for the big and tall man, occupy spaces of 2,500 sq.ft. to 3,000 sq.ft. in freestanding facilities, outlet, specialty and strip centers. Plans call for as many as two openings in the coming 18 months. Expansion will take place in ME, MA or RI. Preferred demographics include a population of 100,000 within three to five miles earning $40,000 as the average income. Leases running five years are typical.

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

The Men's Wearhouse, Inc. trades as Men's Wearhouse at 377 locations in 37 states. The stores, selling tailored men's apparel, occupy spaces of 5,000 sq.ft. in freestanding facilities and power centers. Preferred anchors include fashion apparel retailers. Plans call for 75 openings in the coming 18 months. Expansion will take place in CT, MD, MA, NJ, NY, PA and VA. Preferred demographics include a population of 200,000 within five miles having an upper-middle income. Leases running five to ten years are typical and the company cites Today's Man as competition.

For more information, contact Tom Jennings, The Men's Wearhouse, 40650 Encyclopedia Circle, Fremont, CA 94538; 510-657-9821, Fax 657-0872.

One Price Clothing Stores, Inc. trades as One Price Clothing at 684 locations in AL, AR, AZ, CA, FL, IL, IN, KS, KY, LA, MD, MI, MS, MO, NJ, NM, NY, NC, OH, PA, SC, TN, TX, VA and WI. The women's apparel stores occupy spaces of 3,000 sq.ft. in downtown store fronts, regional malls, power and strip centers. Preferred anchors include Kmart, Wal*Mart, department stores, supermarkets and other fashion retailers. Plans call for at least 80 openings in the coming 18 months. Expansion will take place throughout New England. Preferred demographics include a population of 50,000 within three miles earning $40,000 as the average income. Leases running five years, with options, are typical and the company cites Fashion Cents and Simply Fashion as competition.

For more information, contact Archie Dishman, One Price Clothing Stores, Inc., PO Box 2487, Spartanburg, SC 29304; 864-433-8888, Fax 433-9584.

Chico's FAS, Inc. trades as Chico's FAS at 140 locations nationwide. The women's apparel stores occupy spaces of 2,000 sq.ft. in downtown store fronts and specialty centers. Preferred anchors include Banana Republic, Ann Taylor and Saks. Plans call for 25 openings in the coming 18 months. Expansion will take place nationwide. Leases running eight years are typical.

For more information, contact Scott Edmonds, Chico's FAS, Inc., 11215 Metro Parkway, Fort Myers, FL 33912; 941-277-6200, Fax 277-5237.

Corset Shop, Inc. trades as Corset Shop at seven locations in CT, MA, NJ and NY. The intimate apparel stores occupy spaces of 2,500 sq.ft. in power, specialty and strip centers. Plans call for two openings in the coming 18 months. Expansion will take place in the Northeastern region. Leases running 10 years are typical and the company cites department stores as competition.

For more information, contact Irwin Wrubel, Corset Shop, Inc., 179-181 Meeker Avenue, Newark, NJ 07114; 201-643-2525, Fax 643-3539.

Dots, Inc. trades as Dots at 242 locations in 20 states east of the Mississippi River. The women's apparel stores occupy spaces of 3,200 sq.ft. to 4,000 sq.ft. in downtown store fronts, power and strip centers. Preferred anchors include discount department stores and supermarkets. Plans call for 150 openings in the coming 18 months. Expansion will take place along the East Coast with a focus on the New York City metropolitan area, Washington, D.C. and FL. Preferred demographics include a population of 100,000 within three miles earning $35,000 as the average income. Leases running five years are typical and the company cites One Price Clothing as competition.

For more information, contact Jon Polster or George Haskins, Dots, Inc., 30801 Carter Street, Solon, OH 44139; 216-349-7900, Fax 349-7001.

London Fog Industries, Inc. trades as London Fog at 125 locations nationwide. The stores, selling outerwear, rainwear and accessories, occupy spaces of 4,500 sq.ft. in outlet centers. Plans call for 10 openings in the coming 18 months. Expansion will take place nationwide. Preferred demographics include a population of 350,000 within 10 miles earning $45,000 as the average income. Leases running three to five years are typical.

For more information, contact Gary Nixon, London Fog Industries, Inc., 8 West 40th Street, New York, NY 10018; 212-790-3063, Fax 790-3590.

Bookstores Looking To Expand in The Eastern Region

The Book Market, Inc. operates three deep discount book store concepts. Book Market consists of 50+ units operating on a temporary basis, with the typical lease running three months and mutual month-to-month options. The temporary stores occupy spaces of 7,000 sq.ft. to 30,000 sq.ft. in freestanding facilities, malls and strip centers. Expansion opportunities are sought nationwide and the company plans to open 80 units within the coming 18 months. Book Warehouse operates 85 stores, selling books, stationery items and books on tape at sites from coast to coast. The 3,500 sq.ft. units occupy spaces in outlet centers. Preferred co-tenants include Liz Claiborne, Nike and Gap Outlet. Plans call for as many as 15 openings in the coming 18 months. Expansion will take place nationwide. Preferred demographics include a population of 250,000 within 50 miles earning $40,000 as the average income. Leases running five years are typical. Foozles, An Extraordinary Bookstore operates six stores in CA, KS, MA, TN and WA. The bookstores, selling books, magazines, software, stationery items, games, puzzles, compact discs and calendars, occupy spaces of 10,000 sq.ft. to 25,000 sq.ft. in freestanding facilities and strip centers. Preferred co-tenants include Bed, Bath & Beyond, Old Navy, Saks Off 5th Avenue and other category killlers. Plans call for as many as five openings in the coming 18 months. Expansion will take place nationwide. Leases running 10 years, with three five-year options, are typical.

For more information regarding Book Warehouse and Foozles, contact David Hinkle and regarding Book Market, contact John Raines, The Book Market, Inc., 5915 Casey Drive, Knoxville, TN 37909; 423-558-8187, Fax 558-6249.

Lauriat's, Inc. trades as Lauriat's Books, Encore, Royal Discount Books and Book Corner at 120 locations in CT, DE, MA, MD, ME, NH, NJ, NY, PA, RI and VT. Spaces of 6,000 sq.ft. to 8,000 sq.ft. are used in strip centers. Preferred sites are anchored by supermarkets and theaters. Expansion plans call for 10 to 12 openings in the coming months. Growth opportunities are sought in the existing markets. A five-year lease with options is the typical term. Demographic requirements include a population of 50,000 in three miles earning $20,000 as the minimum per capita income and at least 50% of the population should have some college education.

For more information, contact Ron Pennimpede, Lauriat's, Inc., 10 Pequot Way, Canton, MA 02021; 617-821-0071, Fax 821-0167.

Buck A Book, Inc. trades as Books For Peanuts, Buck A Book and Real Deal Discount Software at 19 locations in CT, MA and RI. The stores occupy spaces of 2,500 sq.ft. to 5,000 sq.ft. in downtown store fronts. Expansion plans call for the opening of four units in the coming 18 months. Expansion opportunities are sought in the existing markets, as well as in ME and NH. The company usually signs a three-year lease. Preferred demographics include a population of 75,000 in three miles earning $40,000 as the average income.

For more information, contact William Stein, Buck A Book, 103 Levbert Road, Newton, MA 02159; 617-244-6479, Fax 244-3689.

Retailers Catering to Children Expanding in The Eastern Region

National Franchise Realty Group, Inc. trades as Tutor Time at 132 locations in AL, AR, CA, CO, CT, DE, FL, GA, IL, IN, KS, MD, MA, MI, MN, MO, NJ, NY, NC, OH, OR, PA, TX, VA and WA. The child care centers occupy spaces of 10,000 sq.ft. in freestanding facilities. Plans call for 100 openings in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of 40,000 within three miles earning $50,000 as the average income. Leases running 15 years are typical.

For more information, contact Bill Gent, National Franchise Realty Group, Inc., 621 NW 53rd Street, Suite 450, Boca Raton, FL 33487; 561-994-6226, Fax 994-8322.

Jeepers! Inc. trades as Jeepers! at eight locations in IL, KS, MD, NJ and VA. The children's entertainment centers occupy spaces of 22,000 sq.ft. in power centers and regional malls. Preferred co-tenants include movie theaters and big-box retailers. Plans call for 12 openings during 1998 and 24 openings during 1999. Expansion will take place in the Northeastern, Mid-Atlantic and Midwestern regions.

For more information, contact Dennis McMullen, Jeepers! Inc., 60 Hickory Drive, Waltham, MA 02154; 617-890-1800, Fax 890-1810.

Charles J. Becker & Brother does business as Teacher's Showroom at seven locations in FL, NJ and PA. The stores, selling educational toys and school supplies, occupy spaces of 7,000 sq.ft. in power centers. Preferred anchors include PetsMart, TJ Maxx and Toys 'R Us. Plans call for the opening of four units in the coming 18 months. Expansion will take place in DE, NJ and PA. Preferred demographics include a population of 200,000 within five miles earning $50,000 as the average income. Leases running five years are typical.

For more information, contact David Bender, Charles J. Becker & Brother, c/o Equity Properties, 600 Haverford Road, Haverford, PA 17041; 610-645-7700, Fax 645-5454.

Milton D. Myer Co. trades as Family Toy Warehouse at 25 locations in NJ, OH and PA. The toy stores occupy spaces of 18,000 sq.ft. in power centers. Preferred anchors include TJ Maxx, home centers, movie theaters and restaurants. Plans call for the opening of four units in the coming 18 months. Expansion will take place in DE, NJ and PA. Preferred demographics include a population of 200,000 within five miles earning $50,000 as the average income. Leases running 10 years are typical.

For more information, contact David Bender, Charles J. Becker & Brother, c/o Equity Properties, 600 Haverford Road, Haverford, PA 17041; 610-645-7700, Fax 645-5454.

Cartoon Cuts operates 119 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. Preferred co-tenants include Disney Store, Gymboree, Toys 'R Us and kids shoe stores. Plans call for as many as four openings in the coming 18 months. Expansion will take place in FL and PA. Leases running five to seven years are typical.

For more information, contact Kathleen Perkal, Cartoon Cuts, 5501 Back Lick Road #115, Springfield, VA 22151; 703-354-3801, Fax 354-4431.

New Construction

Hiffman Shaffer Associates, Inc. and Lake Shore Development recently broke ground on The Broadway Centre on the 2900 block of North Broadway in downtown Chicago, IL. The 150,000 sq.ft., four-level project is 80% pre-leased and will be anchored by TJ Maxx, Filene's Basement, Wolf Camera & Video, Cost Plus World Market and Hollywood Video. A 125-car parking deck will also be constructed. The site is expected to open during Summer 1998.

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

MIMCO, Inc. recently broke ground on a mixed-use development at the intersection of George Dieter, Rojas and Zaragosa Road in El Paso, TX. The project includes 7.7 acres of commercial development and a 20.7 acre master planned business park. Pad sites, retail spaces, office/showroom spaces and warehouse spaces from 1,500 sq.ft. to 70,000 sq.ft. are available. The site is located across from the 22-screen Tinseltown movie theater and Las Palmas Power Center.

For more information, contact Bob Ayoub or Rick Suarez of MIMCO at (915-779-6500), Fax (779-6509).

PREIT-RUBIN, Inc. recently broke ground on phase I of Christiana Center in Newark, DE. The 290,000 sq.ft. power center will be anchored by a 136,000 sq.ft. Costco Wholesale store and will feature seven additional retailers and two restaurants. The company is negotiating with clothing retailers, a sporting goods store and national sit-down restaurant chains for the remaining space. The site is located on Route 7, just off Route 1 and is adjacent to the Christiana Mall. A Summer 1998 opening is planned.

For more information, contact Douglas Grayson of PREIT-RUBIN at (215-875-0700).

CBL & Associates Properties, Inc. recently began site work on Arbor Place in Douglasville, GA. The 1.4 million sq.ft. project located on 125 acres of land at the intersection of Chapel Hill Road and Douglas Boulevard just off I-20 will be anchored by a 200,000 sq.ft. Dillard's Department Store, a 134,000 sq.ft. Sears store, an 80,000 sq.ft. Upton's store, an 80,000 sq.ft., 18-screen Regal Cinema and a 45,000 sq.ft. HomePlace. Plans also include space for two additional two-level department stores and two additional big-box retailers running 15,000 sq.ft. to 30,000 sq.ft. each. Additional plans for the project include space for more than 100 mall stores including several sit-down restaurants and a food court accommodating 10 food businesses and seating for 500. An October 1999 opening is planned. The company also announced that it plans to develop an associated center adjacent to Arbor Place to be known as The Landings at Arbor Place. The 175,000 sq.ft. project will have five major stores and space for as many as 15 other retailers.

For more information, contact John Foy of CBL & Associates Properties at (423-855-0001).

Dalan Development recently broke ground on Randall Square Shopping Center in Geneva, IL. The 250,000 sq.ft. project will be anchored by a 30,000 sq.ft. TJ Maxx, a 35,000 sq.ft. Bed Bath & Beyond, a 14,535 sq.ft. Old Navy Clothing Co. store, a 9,000 sq.ft. Ultra3, a 13,000 sq.ft. Factory Card Outlet, a 12,000 sq.ft. Shoe Carnival, a 27,340 sq.ft. PetsMart and a 19,800 sq.ft. Michael's Arts & Crafts store. A 24,640 sq.ft. Borders Books and Music store currently occupies one of the outlot spaces and additional outlots have been leased to Kentucky Fried Chicken and Spring Garden Restaurant.

For more information, contact Mike Meksto of DEI, Incorporated, the leasing agent, at (312-787-3280), Fax (787-8125).

Dimeo Construction Company recently completed the 250,000 sq.ft. phase I of Wrentham Village in Wrentham, MA. The project will total 550,000 sq.ft. when completed. Plans for the 81-acre site include eight separate retail pods clustered around walkways and avenues. The center will have an open market atmosphere with stores and shops lining the walkways. Special features include period lanterns and sitting areas. A 24,000 sq.ft. food court with outdoor dining patios and gardens is also being developed. The project is being developed and will be owned by Chelsea GCA Realty, Inc.

For more information, contact Dimeo Construction Co. at (401-781-9800), Fax (461-4580).

The Mills Corporation and Gaylord Entertainment Company recently announced plans to develop Opry Mills in Nashville, TN. The 1.1 million sq.ft. project will located adjacent to the Grand Ole Opry and Opryland Hotel Convention Center. The entertainment/retail center will include more than 200 retails stores as well as one-of-a-kind theme restaurants, casual dining and multi-screen theaters, mega video and music stores and electronic game venues. Built on land currently used for theme park parking, Opry Mills will feature an entertainment corridor connecting the enhanced Opry Plaza and Cumberland Landing areas. In addition, the new 125,000 sq.ft. Nashville Bass Pro Shops Outdoor World, originally scheduled for construction at a site just off Briley Parkway and McGavock Pike, will be relocated to become a key element in the new Opry Mills center. The Opryland enhancement will be phased in over a five-year period, with the first of the incremental openings planned for Spring 2000.

For more information, contact The Mills Corporation at (703-526-5000).

A joint venture of ORIX, Ehrhart Venture and Richard Wilkinson is currently developing Oxford Valley Center on the site of the former Roosevelt Drive-In theater in Oxford Valley, PA. The 255,000 sq.ft. power center will be anchored by a 123,000 sq.ft. Target store, a 45,000 sq.ft. Sports Authority, a 30,000 sq.ft. Borders Books and Music store and a 7,000 sq.ft. Lone Star Steakhouse. A Staples office supply is expected to be the fourth anchor. The project is located on Route 1 and encircles existing Toys 'R Us and Kids 'R Us stores and is across the street from Oxford Valley Mall and Lincoln Plaza. Several of the stores were planning to open in time for the Christmas shopping season, but the Target store is not expected to open until July 1998.

For more information, contact ORIX at (312-669-6400).

Buyers & Sellers

Kin Properties, Inc. is in the market to acquire single tenant properties nationwide. Prospective tenants can include Kmart, Target, Wal*Mart and supermarkets.

For more information, contact Lee Cherney at (914-683-8080, Ext. 111), Fax (683-8088).

PFG Capital Corporation has the listing to sell supermarket-anchored shopping centers in Hamburg, PA (42,708 sq.ft.); Roaring Spring, PA (59,900 sq.ft.) and Carlisle, PA (25,000 sq.ft.).

For more information, contact Michael Rhoads at (717-840-0087).

Stanley Gruber, Inc. represents an investor in the market to acquire commercial properties with upside potential. The investor is willing to invest $1 million cash per property.

For more information, contact Stanley Gruber, Inc. at (516-569-6300), Fax (569-6430).

Prime Locations has the listing to sell a 5,213 sq.ft. freestanding building in Torrinton, CT. The company has the listing to sell an 8,500 sq.ft. property in Houlton, ME. The company has the listing to sell a 2,504 sq.ft. freestanding building in Hillsborough, NH and 17,670 sq.ft. of land in Bronx, NY, in addition to a 6,633 sq.ft. freestanding building, a 6,720 sq.ft. freestanding building and a 6,634 sq.ft. freestanding building in Buffalo, NY. The company has the listing to sell a 5,800 sq.ft. freestanding building in Poughkeepsie, NY. The company has the listing to sell a 6,132 sq.ft. property in Utica, NY, as well as a 6,449 sq.ft. freestanding building in Wellsville, NY. The company also has the listing to sell a 6,720 sq.ft. freestanding building in Providence, RI.

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

Summit Realty has the listing to sell a shopping center/medical plaza in Delray Beach, FL. The 44,900 sq.ft. project features 33,000 sq.ft. of retail space. The asking price is $3.7 million.

For more information, contact Gary Cohen at (561-368-2043).

CentreCorp Management Services, Inc., a Canadian public company, is in the market to acquire shopping centers throughout the United States. Preferred projects should be supermarket anchored, have expansion and/or renovation opportunities and have upside potential. Single projects or portfolios will be considered. All cash deals are possible.

For more information, contact W. Mark Barry at (561-624-9500), Fax (624-9507).

Falcon Realty Development has 1031 Exchange properties available for sale. The company is also in the market to acquire properties nationwide.

For more information, contact Matthew Falconer at (407-295-8555), Fax (295-2899), Home Page (www.falconrealty.com).

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

For more information, contact Ed Senenman at (516-869-7230), Fax (869-7228) or Georgia Misoulis at (516-869-7235), Fax (869-7201).

Captec Financial Group, Inc. is in the market to acquire triple net lease properties nationwide.

For more information, contact Daniel Nauman at (1-800-SCAPTEC).

Universal Realty and Development, Inc. has the listing to sell 18 former L. Luria & Son locations in Biscayne, Hialeah, Kendall, Miami, Aventura, Coral Gables, Naples, Carrolwood, Fort Myers, Westshore, Cutler Ridge, Juno Beach, Pembroke Pines, Boca Raton, Suniland, Boynton Beach and Regency, FL. The stores range in size from 21,000 sq.ft. to 40,491 sq.ft.

For more informationm contact Universal Realty & Development at (305-285-9595), Fax (285-1102).

Federal Realty Investment Trust's wholly owned subsidiary Street Retail, Inc. recently acquired a mixed use retail/office building located at 150 Post Street in San Francisco, CA. The purchase price was $20.5 million in cash. The 108,760 sq.ft. project is anchored by Williams-Sonoma and Episode. The company also announces that Street Retail, Inc. recently acquired Old Town Center in Los Gatos, CA. The 96,947 sq.ft. project is anchored by Borders, Banana Republic, GapKids and Oakville Grocery.

For more information, contact Steve Plenge at (301-998-8100).

Paradigm Commercial Realty has the listing to sell an Eckerd drug store in Atlanta, GA. The property has a 20-year lease and the asking price is $2,318,223. The company has the listing to sell a Walgreens drug store in TX. The property has a 20 years lease and has an asking price of $3,799,047. The company also has the listing to sell a Rite Aid drug store in GA. The property has a 20 year lease and an asking price of $1,806,649.

For more information, contact Stanley Wyll at (972-687-0004), Fax (789-1977), email (stanw@cmpu.net).

Madison Borhners has the listing to sell Granville Plaza in West Los Angeles, CA. The two-level retail center is located on Wilshire Boulevard. The asking price is $9.8 million. The company is in the market to acquire supermarket and drug store anchored power centers in AZ, CA and NV.

For more information, contact Matthew May at (310-586-1050), Fax (586-1051), email (madisonprt@aol.com).

Paley Dixon, Inc. is in the market to acquire supermarket and discount retailer anchored shopping centers east of the Rocky Mountains, in AZ and NV.

For more information, contact Sarah Cooke at (914-477-0400), Fax (477-0382), email (sscooke@jni.com).

MSI Real Estate Services has the listing to sell Rhodes Crossing in Spring, TX. The 44,529 sq.ft. project is 87% occupied. The asking price is $1.795 million.

For more information, contact Mike Stich at (713-963-0883), Fax (960-8887), email (mstich@hal-pc.org).

Eric Bram & Co. has the listing to sell 1.5 acres of land in Edison, NJ. The site fronts Route 1 which has a daily traffic count of 75,300 vehicles. The site has all utilities and is zoned for retail, restaurant and office uses. The asking price is $1 million. The company has the listing to sell .5 acres of land in Edison, NJ. The site fronts Route 27 which has a daily traffic count of 24,000 vehicles. The site has all utilities and is zoned for retail, restaurant and office uses. The asking price is $550,000. The company also has the listing to sell 4.2 acres of land in Marlboro, NJ. The site has 200 feet of frontage on U.S. Highway 9 which has a daily traffic count of 31,240 vehicles. The site has all utilities and is zoned for retail, restaurant and office uses. Neighboring tenants include Kmart, TGI Friday's, McDonald's, IHOP, Regal 8 Movies, Pathmark and ShopRite. The asking price is $297,000 per acre.

For more information, contact Martin Goldberg at (908-545-1414), Fax (545-8671).

HMF Management Co. is in the market to acquire shopping centers having a GLA of at least 200,000 sq.ft. nationwide. Renovation candidates are preferred.

For more information, contact Warren Perry at (972-733-8857).

Progressive Properties has the listing to sell four 7-Eleven convenience store and gas stations in Fort Myers, Palm City and Daytona Beach (2), FL. The projects all have NNN 15-year leases with 12% rent increases every five years. The asking price for the portfolio is $7,299,882.

For more information, contact Richard Terzian at (719-593-1550).

Forest Company has the listing to sell Stater Plaza in Hemet, CA. The asking price is $3.675 million. The company has the listing to sell West Covina Parkway Plaza in West Convina, CA. The asking price is $13.325 million. The company has the listing to sell a Blockbuster Music store in San Bernardino, CA. The asking price is $1.075 million. The company has the listing to sell a Hollywood Video store in Rialto, CA. The asking price is $1.05 million. The company has the listing to sell a Payless Drug store in Rialto, CA. The asking price is $1.7 million. The company also has listing to sell a Staples store in San Bernardino, CA. The asking price is $1.89 million.

For more information, contact Dean Curci at (714-852-9400), Fax (852-8475), email (curci@aol.com).

Stafford Properties recently acquired and developed 8.77 acres of land in Gainesville, GA. The property was sub-divided into individual parcels and sold to Blockbuster Video, Chili's, Damon's Restaurant, Outback Steakhouse and Party City.

For more information, contact David Oliver at (404-256-9100), Fax (256-6358).

Divaris Real Estate, Inc. represented Crown Life Insurance in its sale of the 63,887 sq.ft. Shore Drive Plaza in Norfolk, VA. The property was acquired by Mair Development Corporation.

For more information, contact Kevin DiBona at (757-497-2113).

MRO Properties, Inc. recently acquired Crossroads of San Antonio in San Antonio, TX. The 710,792 sq.ft. mixed use project is anchored by Burlington Coat Factory, Montgomery Ward, Stein Mart, Hobby Lobby, Stuarts/Stuarts Plus, Lerner New York, Radio Shack, Payless and Footaction. In addition, the project has a Sumner Suites Hotel and several large pad sites to develop.

For more information, contact Jerry Marroquin at (210-735-9137).

CB Commercial Real Estate Group, Inc. brokered the sale of Rona Plaza in Santa Ana, CA. The 51,779 sq.ft. project is anchored by Food 4 Less. The buyer was Pacific Realty Trust. The company represented Smart & Final in its acquisition of a 26,000 sq.ft. former Service Merchandise building in Buena Park, CA. The acquisition price was $1.4 million.

For more information, contact CB Commercial at (714-725-8516).

Yale Realty Services Corp. recently acquired Rockdale Plaza in New Bedford, MA. The 73,000 sq.ft. project is anchored by a 56,000 sq.ft. Super Stop & Shop and the balance of the space contains national and local tenants.

For more information, contact Yale Paprin at (914-769-7600).

Brandenberg Realty Associates, Inc. brokered the sale of Eastchester Mall in Eastchester, NY. The 70,000 sq.ft. project is anchored by Food Emporium, CVS Drugs, Dress Barn and Friendly's Restaurant. The project was acquired by HRE Properties, Inc. for $7.125 million.

For more information, contact Brandenberg Realty Associates at (914-241-9170), Fax (241-9236).

Supermarkets Expanding Throughout The East

The Penn Traffic Co. trades as Bi-Lo Markets and Riverside at 100 locations in MD, NY, OH and PA. The supermarkets occupy spaces of 55,000 sq.ft. in freestanding facilities, regional malls and strip centers. Growth opportunities are sought in the existing markets. Leases running 20 years are typical and the company cites Giant Eagle, Tops and Wegman's as competition.

For more information, contact Wendy Way, The Penn Traffic Co., Route 255 & Shaffer Road, Du Bois, PA 15801; 814-375-3663, Fax 375-2992.

Big Y Foods, Inc. trades as Big Y Supermarket 42 locations in CT and MA. The supermarkets occupy spaces of 45,000 sq.ft. to 65,000 sq.ft. in freestanding facilities, power and strip centers. Plans call for as many as eight openings in the coming 18 months. Expansion will take place in the existing markets. Leases running 20 years, with four five-year options, are typical. The company cites Stop & Shop and Shaw's as competition.

For more information, contact Stephen Hurwitz, Big Y Foods, Inc., 280 Chestnut Street, Springfield, MA 01104; 413-784-0600, Fax 732-8475.

Big V Supermarkets, Inc. trades as ShopRite at 32 locations in NJ and NY. The supermarkets occupy spaces of 35,000 sq.ft. to 70,000 sq.ft. in freestanding facilities, regional malls, power and strip centers. Preferred anchors include Kmart, TJ Maxx, Wal*Mart, discount stores, department stores and home centers. Plans call for three openings in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of 15,000 within three miles earning $35,000 as the average income. Leases running 20 years are typical.

For more information, contact Tim Flanagan, Big V Supermarkets, Inc., 176 North Main Street, Florida, NY 10921; 914-651-4411, Fax 651-7048.

Ahold USA, Inc. trades as Giant Food Stores at 144 locations in MD, NJ, NY, PA, VA and WV. The supermarkets occupy spaces of 55,000 sq.ft. to 70,000 sq.ft. in freestanding facilities, power and strip centers. Plans call for 12 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 20 years are typical.

For more information, contact Bob Bencivenga (metro NY and Long Island) at 914-962-2585 or Kevin Keenan for NJ at 732-607-5805; all other areas contact Richard Welsh, 1149 Harrisburg Pike, Carlisle, PA 17013; 717-249-4000, Fax 249-5871.

Dan's Supreme Super Markets, Inc. trades as Dan's Key Food at 20 locations in NY. The supermarkets occupy spaces of 35,000 sq.ft. to 55,000 sq.ft. in strip centers. Growth opportunities are sought in the existing market. Leases running 15 years are typical.

For more information, contact Richard Grobman, Dan's Supreme Super Markets, Inc., 474 Fulton Avenue, Hempstead, NY 11550; 516-483-2400, Fax 483-1586.

Pathmark Stores, Inc. trades as Pathmark at 144 locations in CT, DE, NJ, NY and PA. The supermarkets occupy spaces of at least 45,000 sq.ft. in strip centers. Preferred co-tenants include apparel stores and discount stores. Plans call for the opening of four units in the coming 18 months. Expansion will take place in the NJ, NY and Philadelphia, PA metropolitan areas. Preferred demographics include a population of 60,000 within three miles. Leases running 25 years, with options, are typical.

For more information, contact Harvey Gutman, Pathmark Stores, Inc., 301 Blair Road, Woodbridge, NJ 07095; 908-499-3000, Fax 499-3100.

Roche Bros. Supermarkets, Inc. trades as Roche Bros. Supermarkets at 13 locations in MA. The supermarkets occupy spaces of 32,500 sq.ft. to 50,000 sq.ft. in freestanding facilities and strip centers. Growth opportunities are sought in the existing market.

For more information, contact Robert Annand Sr., Roche Bros. Supermarkets, Inc., 70 Hastings Street, Wellesley, MA 02181; 617-235-9400, Fax 235-3153.

Drug Stores Expanding in The East

CVS, Inc. trades as CVS Pharmacy at 1,450 locations in CT, GA, ME, MA, MD, NH, NJ, NY, PA, RI, SC, VA and VT. The drug stores occupy spaces of 8,000 sq.ft. to 11,000 sq.ft. in freestanding facilities. Expansion plans call for 115 openings in the coming 18 months. Growth will continue in the existing markets.

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

Community Distributors, Inc. trades as Drug Fair at 29 locations and Drug Fair at 17 sites. The drug stores occupy spaces of 15,000 sq.ft. in strip centers. The company operates its stores in NJ and will continue to grow within the state. Expansion plans cal for seven openings in the coming 18 months. The 43-year old company typically signs a 15-year lease.

For more information, contact Tom Keighley, Community Distributors, Inc., 738 Union Avenue, Middlesex, NJ 08846; 732-356-2328, Fax 356-3682.

Dumouchel Apothecary of Waltham trades as Eaton Apothecary at nine locations in MA. The drug stores occupy spaces of 2,500 sq.ft. to 3,200 sq.ft. in strip centers and downtown store fronts. Expansion will continue in MA.

For more information, contact Mark Dumouchel, Dumouchel Apothecary, 264 Washington Street, Wellesley Hills, MA 02181; 617-237-7310, Fax 237-7278.

Point Value Drugs, Inc. trades as Value Drugs at 11 locations in NY. The drug stores occupy spaces of 3,500 sq.ft. to 7,500 sq.ft. in downtown store fronts, power and specialty centers. Growth opportunities are sought in Manhattan, NY. Leases running 15 years are typical.

For more information, contact Peter Pastorelli, Point Value Drugs, Inc., 1514 College Point Boulevard, College Point, NY 11356; 718-939-0994, Fax 463-3803.

RXD Pharmacies, Inc. trades as RXD Pharmacies at eight locations in NJ and PA. The drug stores occupy spaces of 5,000 sq.ft. in downtown store fronts, freestanding facilities and strip centers. Plans call for two openings in the coming 18 months. Expansion will take place in DE, NJ or PA.

For more information, contact Robert Milner, RXD Pharmacies, Inc., 724 Haddon Avenue, Collingswood, NJ 08108-3712; 609-858-9292, Fax 858-7286.

Shoe Retailers Looking for Locations in The East

L.B. Pennyworth's, Inc. trades as L.B. Pennyworth at five locations in the Northeastern region. The shoe stores occupy spaces of 5,000 sq.ft. to 10,000 sq.ft. in freestanding facilities and strip centers. Plans call for two openings in the coming 18 months. Expansion will take place in the existing market.

For more information, contact Lowell Blitt, L.B. Penneyworth's, Inc., 110 Monroe Street, Lynn, MA 01901; 617-595-6710, Fax 593-0120.

Mortt Distributors, Inc. trades as Mortt's at six locations in MA, NH and NY. The shoe stores occupy spaces of 3,500 sq.ft. to 6,000 sq.ft. in freestanding facilities and strip centers. Preferred anchors include Lord & Taylor and Wal*Mart. Plans call for two openings in the coming 18 months. Expansion will take place in New England. Leases running five to ten years are typical.

For more information, contact Morton R. Rosen, Mortt Distributors, Inc., 80 Canal Street, Manchester, NH 03101; 603-669-3339, Fax 669-0410.

Fabco Shoes operates 50 locations in NJ and NY. The shoe stores occupy spaces of 3,000 sq.ft. in downtown store fronts, regional malls and strip centers. Preferred anchors include Kmart, TJ Maxx and Wal*Mart. Plans call for five openings in the coming 18 months. Expansion will take place in the existing markets. Leases running 15 years are typical.

For more information, contact David Weinman, Fabco Shoes, 52-55 74th Street, Elmhurst, NY 11373; 718-898-4200, Fax 899-6867.

Harwyn Enterprises, Inc. trades as Harwyn Shoes at 18 locations in NJ, NY and PA. The men's shoe stores occupy spaces of 1,600 sq.ft. in regional malls. Plans call for three openings in the coming 18 months. Expansion will take place in the Mid-Atlantic and Northeastern regions. Leases running 10 to 12 years are typical.

For more information, contact J.R. Blumenthal, Harwyn Enterprises, Inc., 445 Westbury Boulevard, Hempstead, NY 11550; 516-483-8600, Fax 483-8766.

Sneaker Stadium, Inc. trades as Sneaker Stadium at 38 locations in CT, MA, NJ, NY, NC, PA and VA. The athletic footwear stores occupy spaces of 15,000 sq.ft. in freestanding facilities, power and specialty centers. Preferred co-tenants include entertainment retailers, soft goods retailers and restaurants. Plans call for 20 openings in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of 250,000 within five miles. Leases running 10 years are typical.

For more information, contact T. Gregory Williams, Sneaker Stadium, Inc., 55 Carter Drive, Edison, NJ 08817; 908-777-9777, Fax 777-7999.

Shonac Corp. trades as DSW Shoe Warehouse at 39 locations in AZ, CA, CO, GA, IL, IN, KS, MA, MD, MI, MN, MO, NC, NJ, NY, OH, OK, PA, TN, TX, VA and WI. The family shoe stores occupy spaces of at least 20,000 sq.ft. in freestanding facilities, power and strip centers. Growth opportunities are sought in the existing markets as well as in FL. Preferred demographics include a population of 200,000 within five miles earning $60,000 as the average income.

For more information, contact Tracy Snow, Shonac Corp., 1675 Watkins Road, Columbus, OH 43207; 614-497-1199, Fax 497-1356. For sites in NY, contact Bruce Shepard, c/o E.M.B. Associates, Inc., PO Box 397, Mamaroneck, NY 10543; 914-698-5500, Fax 698-0331.

Who's Opening & Where

Home Depot (770-433-8211) has agreed to buy Barnacle Bill's FantaSea water park in Wichita, KS. The agreement is expected to be completed during early 1998 and Home Depot plans to develop a store on the property afterward.

Saks Fifth Avenue (212-753-4000) plans to open a 100,000 sq.ft. store at West Shore Plaza in Tampa, FL during November 1998.

West Marine (408-728-2700) plans to open a 4,000 sq.ft. store during January in Madison, WI.

K's Merchandise Mart (217-875-1440) recently entered the IN market with a 100,000 sq.ft. store at a former Builders Square location in Fort Wayne, IN.

Raymour & Flanigan Furniture (315-453-2520) recently opened a 50,000 sq.ft. store at Eastview Mall in Rochester, NY and is planning to open a 53,000 sq.ft. store in West Hartford, CT during January.

Wal*Mart (501-273-4000) plans to develop a 201,000 sq.ft. Supercenter in Hermitage, TN. The company plans to expand its store at Cypress Village Shopping Center in St. Louis, MO to 122,000 sq.ft. The company also plans to develop a 204,000 sq.ft. Supercenter in Broken Arrow, OK.

Randalls Food Markets (713-268-3638) plans to develop a 63,000 sq.ft. supermarket with 21,000 sq.ft. of space for other retailers near Cinco Ranch, TX. The site is expected to open during Fall 1998.

Neiman Marcus (214-741-6911) plans to open a 150,000 sq.ft. department store at a Taubman Co. proposed shopping center in Plano, TX. Neiman Marcus plans to close its store at Prestonwood Town Center when the Plano store opens which is expected during 2001.

Walgreen Co. (847-940-2500) plans to open a 13,905 sq.ft. drug store in Williamson County, TN during February 1998.

Muvico Theaters (954-564-6550) plans to develop a 21-screen theater in Ybor City, FL. The site is expected to open during 1999. The company operates 61 screens throughout FL with 284 screens at 16 locations in various stages of development, including Muvico Pointe 21 Theatres in Orlando, FL and Peabody Place 24 Theaters in Memphis, TN.

Dominick's Supermarkets, Inc. (708-562-1000) has announced plans to convert its 17 Omni stores in the Chicago, IL market to Dominick's Fresh Stores.

Sport Chalet (818-790-2717) recently opened a 40,000 sq.ft. sporting goods store in Laguna Niguel, CA.

Lord & Taylor (314-342-6300), a division of The May Company, is planning to open as many as three department stores in the Denver, CO metropolitan area by the year 2000.

Covenants Against Competing Uses: What Happens When A Tenant Says, No

by Kenneth A. Rosen, Esq. and Joseph Cioffi, Esq.

You have space available in your shopping center. You have a prospective tenant ready to lease on favorable terms. What you don't have is the consent of a valued tenant (probably, the anchor tenant). What happens when that tenant refuses to give its consent to the leasing of another retail establishment because it believes the new tenant deals in the same type of goods, or has an "undesirable" image? Does it matter if the tenant who refuses to give consent is a large department store or a smaller specialty shop? Are there any standards by which a court will determine whether or not consent has been withheld rightfully or wrongfully? Is it legal for the tenant to restrict competition in this matter?

The first question to ask is whether there is a written covenant in the lease that prohibits the landlord from leasing the property for a competing purpose. Generally, such restrictions have to be in writing to be enforceable. If there is a written agreement, it will generally be upheld by a court if it is considered reasonable in terms of the territory, length of time and the type of operations to be excluded or restrained from operation.

Substantial leverage is vested in major, or "anchor," tenants because of the role they play in helping to secure financing and because their commitment assists the owner in attracting the smaller tenants necessary to create a viable center. Because of this leverage, anchors may pay comparatively low rents and exercise considerable control. An anchor may negotiate to restrict who may lease, the right to approve potential tenants, the right to exclude certain stores, and exercise control over certain operations in the center. Courts have been emphatic to major tenants on the basis that these retailers have committed themselves for the long haul and have accepted a certain amount of risk that the center will be successful. However, attempts by anchor tenants to exclude certain types of stores, for example, discount stores, have raised anti-trust issues.

In gauging the reasonableness of an anchor's refusal to consent to a prospective tenant, it is important to understand the reasons given for the objection. If an anchor attempts to exert control over smaller tenants and over the tenant mix, it may be violating anti-trust laws. Restrictions on competing uses are not illegal per se, but they are subject to a rule of reason, which varies with the circumstances. For example, in one case, a lease gave a chain variety store the right to be the exclusive variety store in a regional shopping center, plus the right to approve the tenant mix, and a restriction on any other variety drug stores located within 3,000 feet of the leased premises as well as a discount store larger than 10,000 sq.ft. The anchor was enjoined from enforcing the protective provisions of its lease which were held to affect interstate commerce and violate federal anti-trust laws.

Also, an anchor may not use a protective covenant as an unfair competitive practice in violation of the Federal Trade Commission Act. Under the FTCA an anchor may be precluded from enforcing any right it has to exclude other businesses from a center or to specify the types of merchandise, price ranges or space given to smaller tenants. At least one court has noted that an agreement to limit the physical size of a competitor constitutes an unreasonable restraint of trade on its face.

An anchor tenant may request a covenant by the landlord not to lease for competing purposes any property, not or hereafter acquired by landlord, within a substantial radius of the premises to be leased. If the landlord does not own or intend to own any property within the radius, he may decide to acquiesce and save his bargaining power for more substantial issues. This causes problems later on. If the landlord acquires property within the radius and then decides to sell it, the purchaser may be bound by the covenant. Thus, the marketability of the leased property or of the radius property may be damaged.

A major tenant may seek to enjoin a new tenant from violating an exclusive before the new tenant even makes a sale of prohibited merchandise. However, where the complaining party is an assignee of a tenant with an exclusive, it may be a valid defense that there has been a "change in circumstances." For example, if a supermarket anchor tenant of a center had an exclusive to operate a supermarket and later assigned its lease to a pharmacy that sold a small amount of food, there most likely would be a change of circumstances that would preclude the pharmacy from obtaining an injunction.

By nature, retail businesses tend to expand and extend from their original or specialized merchandise. This expansion has eliminated boundaries or at least has made them very difficult to discern. The reasonableness of an existing tenant's objection to another merchant's merchandise, may come down to the precision of the language used in the lease. For example, a tenant who leases space for a restaurant and has the exclusive right to have the only restaurant in a specific area does not necessarily have the right to preclude a neighboring "luncheonette" or "cafeteria" or "delicatessen" or "fast food" restaurant with a limited take-out menu. Although the distinctions between these types of establishments may not be very great to the consumer, they have all been recognized as being different by the courts. Some courts do take a practical approach and will define a specific business in terms of the current marketing practice and consumer understanding, rather than emphasizing the establishment's traditional nature. For example, these courts would interpret "stationery only" as permitting the sale of lottery tickets.

One must also understand whether the objecting tenant has an exclusive right to conduct a specific business, which is not literally confined to specific products, or an exclusive right to sell specific products. These two types of exclusives have been called "limited exclusives" and "true exclusives," respectively. The right to conduct the only grocery store in a complex is a limited exclusive because other establishments may also sell food without being "grocery stores." Similarly, the right to conduct the only appliance store in a specific area does not prohibit the sale of appliances by other tenants.

The exclusive may merely bar another store from a business "principally", "primarily" or "substantially" devoted to the sale of certain merchandise. "Primarily" has been interpreted to mean the same as "chiefly" or "principally." A restriction prohibiting the use of "a major part" of premises for specific sales typically is interpreted as meaning greater than 50%. However, "substantial" has been interpreted by some court to be on-third of sales.

Although a true exclusive may appear to be straight forward, an objection by the tenant with such as exclusive may require an interpretation of competing provisions within leases in the same complex. For example, in a drug store lease where the landlord has agreed not to permit any other tenant to sell drugs or cosmetics, and tenant-convented may be able to enjoin a supermarket from selling "health and beauty aides."

Some degree of overlap may be permitted. Even though an objecting tenant may have been an exclusive to operate, for example, an ice cream parlor, it may not bar a lease for a restaurant with incidental sales of ice cream. The burden is on the objecting tenant to show that the sales are not incidental.

Often the distinction between limited and true exclusives becomes blurred. For example, where a tenant has an exclusive on women's dresses, it may object to the sale of blouses and skirts on the grounds that these constitute two-piece dresses. This argument would probably not be considered reasonable provided that the new seller sets a separate price for the blouse and the skirt and does not require customers to buy both at the same time.

Given anti-trust concerns and the somewhat fluid standard of "reasonableness" the landlord should protect itself in granting exclusives to anchor tenants by requiring an indemnification clause that clearly states that the exclusive has been provided at the request of the tenant. Further, price controls and limitations on the size of competitors should be avoided. In leases to all tenants, careful attention to the drafting of exclusives use and non-compete provisions will ensure that the landlord and all tenants in the shopping center get the rights and responsibilities that they expected without having to rely on judicial interpretation of the lease terms.

Kenneth A. Rosen, Esq. is a senior member and Joseph Cioffi, Esq. is an associate at the law firm of Ravin, Sarasohn, Cook, Baumgarten, Fisch & Rosen, P.C., 103 Eisenhower Parkway, Roseland, NJ 07068; 973-228-9600, Fax 228-9250.

Exclusives

Charter Realty and Development Corp. (203-629-3939) has been named the exclusive leasing/development agent for Kranzo's Northeastern shopping center portfolio. The portfolio contains 15 shopping centers totaling 1.494 million sq.ft. in CT, NY and RI. In CT, the sites include the 61,000 sq.ft. Golfland Plaza in Orange; the 27,000 sq.ft. Orange Plaza anchored by Pergament Express in Orange; the 191,000 sq.ft. Groton Square anchored by Stop & Shop and Bradlees in Groton; Parkway Plaza I and Parkway Plaza II, which total 204,000 sq.ft. in Hamden; the 183,000 sq.ft. Manchester Kmart Plaza anchored by Kmart and Pep Boys in Manchester; The 159,000 sq.ft. Stratford Plaza anchored by Marshalls and Fashion Bug in Stratford and the 25,000 sq.ft. Xpect Discount Drug Plaza in Milford. In NY, the sites include the 250,000 sq.ft. The Mall at Cross County anchored by Sports Authority, TJ Maxx, Kids R Us and Circuit City in Yonkers; the 93,000 sq.ft. Highridge Plaza anchored by Pathmark in Yonkers; the 43,000 sq.ft. North Ridge Shopping Center anchored by Harmon Drugs in New Rochelle; the 17,000 sq.ft. Village Square Shopping Center anchored by Trader Joes in Larchmont and the 25,000 sq.ft. A&P Shopping Center in Mamaroneck. In RI, the assignment includes the 229,000 sq.ft. Wampanoag Plaza anchored by Marshalls, The Rx Place, Cherry & Webb and Savers in East Providence.

Legend Properties, Inc. (610-941-4034) has been named the exclusive leasing agent of Parktown Plaza in Royersford, PA. A 30,000 sq.ft. former supermarket, as well as several smaller stores, are available for lease. The company has been named the listing agent by The Korman Company for Tremont Shopping Center and Gray's Ferry Shopping Center in Philadelphia, PA. The company has been appointed the exclusive agent for The Pavilion in Jenkintown, PA by The Galman Group. The project is anchored by Acme and HomePlace. The company has also been assigned to lease a 5,000 sq.ft. space adjacent to CVS in Philadelphia, PA.

Island Real Estate, Inc. (516-587-5050) has been named the property management company of 4117 Hempstead Turnpike in Bethpage, NY. The 42,000 sq.ft. project is located across from a Walgreens.

Pfeil & Company (518-581-8280) has been named the exclusive leasing agent for Congress Park Centre in Saratoga Springs, NY by Brause Realty, Inc. The 200,000 sq.ft. mixed-use project contains approximately 10,500 sq.ft. of retail space on the first floor.

Metro Commercial Real Estate, Inc. (609-866-1900) has been named the exclusive listing agent for a 47,570 sq.ft. former Rickel Home Center at Cherry Hill Shopping Center in Cherry Hill, NJ. The 179,803 sq.ft. project is also anchored by Pathmark, TJ Maxx and 40 Winks.

The Schultz Organization (732-855-0001) has been appointed the tenant rep for the state of NJ by the following retailers: New World Coffee, Tuesday Morning, Blockbuster, Trader Joe's and Bare Necessities. The company has been appointed the tenant rep by Pep Boys for Mercer, Monmouth and Ocean counties in NJ. The company has been appointed the tenant rep by TGI Friday's for Burlington County, NJ. The company has been named the exclusive leasing agent for Brick-88, a 50,000 sq.ft. re-development project in Brick, NJ. The company has been appointed the exclusive leasing agent for Lakewood Shopping Plaza, a 195,000 sq.ft. project in Lakewood, NJ. The company has been appointed the exclusive leasing and management agent for Cobblestone Village, a 100,00 sq.ft. project in Ocean Township, NJ.

Welco Realty (914-576-7500) has been named the exclusive broker for Edgewater Town Centre in Edgewater, NJ. The mixed use project will be anchored by a 38,000 sq.ft. Gourmet & Health Food supermarket with an additional 30,000 sq.ft. to 40,000 sq.ft. of retail space available. The company has also been named the exclusive broker for a new 14 screen theatre complex with approximately 150,000 sq.ft. of retail space. The project is located immediately south of Edgewater Commons Shopping Center in Edgewater, NJ.

Richardson Real Estate Co. (757-461-3271) has been named the exclusive tenant rep for Fazoli's Italian Restaurant throughout southeastern and central VA. The company has negotiated five ground leases for Fazoli's at The Market Center at Greenbrier in Chesapeake, VA; Lynnhaven Mall in Virginia Beach, VA: Chesapeake Square Mall in Chesapeake, VA; Oyster Point in Newport News, VA and in Richmond, VA. The company has been named the exclusive tenant rep for Zero's Subs. The company has been named the exclusive leasing agent for The Crossroads Center at Chesapeake Square, a 225,000 sq.ft. project anchored by Circuit City, TJ Maxx and Wal*Mart in Chesapeake, VA. The company has been named the exclusive leasing agent for Stonebridge Plaza in Chesapeake, VA. The company has also been named the exclusive leasing agent for Collins Square Shopping Center in Virginia Beach, VA.

Terranomics Retail Services, Inc. (415-474-6100) has assumed leasing and management responsibility for Town & Country Village in San Jose, CA; 150 Post in San Francisco, CA and Uptown Center in Portland, OR. All three properties are recent acquisitions of Federal Realty Investment Trust. Town & Country Village is a 325,000 sq.ft. project anchored by Chili's Grill, Western Mountaineering and Eli Thomas Menswear. The site is located across from Valley Fair Shopping Center. 150 Post is a seven-story building containing 108,760 sq.ft. of retail and office space. The retail space is occupied by Williams-Sonoma and Episode. Uptown Center is a 72,000 sq.ft. "street retail" area in downtown Portland. Tenants include Zupan's Market, Uptown Pharmacy and Elephant's Deli.

Hicks & Rotner Retail, Inc. (410-823-4250) has been named the tenant rep by Whole Foods Market for its expansion throughout the Northeastern region. The company, which operates 70 natural food supermarkets trading as Whole Foods Market, Fresh Fields Market and Bread & Circus at 70 locations nationwide, plans to open as many as three stores in the northeast annually. The stores average 35,000 sq.ft.

Food Tenants Hungry for Sites

The Coffee Beanery Ltd. trades as The Coffee Beanery at 190 locations in 30 states. The specialty coffee houses occupy spaces of 600 sq.ft. to 2,000 sq.ft. in downtown store fronts, freestanding facilities, regional malls and strip centers. Plans call for 30 openings in the coming 18 months. Expansion will take place in FL, MI, NY, northern VA and Washington, D.C. Preferred demographics include a population of 90,000 within three miles earning $50,000 as the average income. Leases running 10 years are typical and the company, which is franchising, cites Gloria Jeans and Starbucks as competition.

For more information, contact Holland Burton, The Coffee Beanery Ltd., 3429 Pierson Place, Flushing, MI 48433; 810-733-1020, Fax 733-1536.

Jersey Mike's Franchise Systems trades as Jersey Mike's Submarines & Salads at 86 locations in GA, NJ, NC, OH, PA, SC, TN and VA. The restaurants, serving submarine sandwiches, occupy spaces of 1,200 sq.ft. to 1,800 sq.ft. in freestanding facilities and strip centers. Preferred anchors include supermarkets and video stores. Plans call for 40 openings in the coming 18 months. Expansion will take place in the existing markets and well as in Charlotte, NC; Cincinnati and Columbus, OH; Nashville, TN and Louisville, KY. Preferred demographics include a population of 50,000 within three miles earning at least $45,000 as the average income. Leases running five to ten years are typical and the company is franchising. The company will purchase freestanding sites and self develop as well.

For more information, contact Mike Parkhill, Jersey Mike's Franchise System, 2517 Highway 35, Building K201, Manasquan, NJ 08736; 908-528-7676, Fax 528-7818.

AuBon Pain Co., Inc. trades as Au Bon Pain and Saint Louis Bread at 344 locations in the Eastern half of the nation. The restaurants, offering sandwiches, baked goods and coffee, occupy spaces of 3,500 sq.ft. in freestanding facilities, regional malls and strip centers. Preferred anchors include Lord & Taylor and supermarkets. Plans call for 75 openings in the coming 18 months. Expansion will take place in FL; Chicago, IL; Detroit, MI; Boston, MA; Columbus, OH and Washington, D.C. Preferred demographics include a population of 50,000 within three miles earning $55,000 as the average income. Leases running 10 years are typical and the company is franchising.

For more information, contact Mitchell Roberts, AuBon Pain Co., Inc., 19 Fid Kennedy Avenue, Boston, MA 02210; 617-423-2100, Fax 423-7879.

Restaurant Sites trades as Chili's and On The Border at 31 locations in NY and New England. The restaurants occupy spaces of 6,000 sq.ft. to 7,000 sq.ft. in freestanding facilities. Plans call for seven openings in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of 80,000 within five miles earning $50,000 as the average income. Leases running 15 years are typical.

For more information, contact Richard Gallivan, Restaurant Sites, 28 Somers Road, Hampden, MA 01036; 413-566-0216, Fax 566-2227.

New King, Inc. trades as Burger King at seven locations in CT. The fast food restaurants occupy spaces of 2,500 sq.ft. in freestanding facilities. Preferred anchors include Wal*Mart and supermarkets. Plans call for the opening of four units in the coming 18 months. Expansion will take place in CT and western MA. Preferred demographics include a population of 30,000 within three miles earning $40,000 as the average income. Leases running 20 years, with options, are typical and the company is franchising.

For more information, contact Jack Murhead, New King, Inc., 874 Silas Deane Highway, Wethersfield, CT 06109; 860-257-9000, Fax 257-9248.

Papa Gino's, Inc. trades as Papa Gino's at 185 locations in CT, ME, MA, NH and RI. The pizza restaurants occupy spaces of 2,500 sq.ft. to 3,200 sq.ft. in strip centers. Preferred anchors include supermarkets, drug stores and video stores. Plans call for 10 openings in the coming 18 months. Expansion will take place throughout New England. Preferred demographics include a population of 30,000 within three miles earning $30,000 as the average income. Leases running five years, with two five-year options, are typical.

For more information, contact Rich Douglass, Papa Gino's, Inc., 600 Providence Highway, Dedham, MA 02026; 781-461-1200, Fax 461-1896.

The Brew House LLC trades as The Brew House at 15 locations in DE, GA, MA, NY, OH, PA, RI and Washington, D.C. The microbrewery restaurants occupy spaces of 8,000 sq.ft. to 9,000 sq.ft. in freestanding facilities. Plans call for as many as 10 openings in the coming 18 months. Expansion will take place in the Mid-Atlantic, Midwestern, Northeastern and Southeastern regions. Preferred demographics include a population of 100,000 within five miles earning $50,000 as the average income. Leases running at least 10 years are typical.

For more information, contact Gary Gut, The Brew House LLC, 575 Boyleston Street, Boston, MA 02166; 617-536-7625, Ext. 22, Fax 536-6490.

Bertucci's, Inc. trades as Bertucci's Brick Oven Pizza at 83 locations in CT, GA, IL, MD, MA, NH, NJ, NY, PA, VA and Washington, D.C. The restaurants occupy spaces of 5,000 sq.ft. to 6,000 sq.ft. in downtown store fronts, freestanding facilities, regional malls, power and specialty centers. Plans call for 10 openings in the coming 18 months. Expansion will take place in CT, MA, NY, PA and VA. Preferred demographics include a population of 70,000 within three miles earning $70,000 as the average income. Leases running 10 years are typical.

For more information, contact Michael DiGuiseppe, Bertucci's, Inc., c/o Realty Partners, Box 5481, Beverly Farms, MA 01915; 508-921-8081.

DiJan, Inc. does business as Arby's at nine locations in NJ, PA, VA and WV. The fast food restaurants occupy spaces of 650 sq.ft. to 3,500 sq.ft. in freestanding facilities, regional malls, power and strip centers. Plans call for two openings in the coming 18 months. Expansion will take place in PA, VA and WV. Leases running 10 to 20 years are typical.

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

MHC, Inc. trades as Burger King at seven locations throughout New England. The fast food restaurants occupy spaces of 3,000 sq.ft. in downtown store fronts, freestanding facilities and strip centers. Preferred anchors include Kmart, Wal*Mart and supermarkets. Plans call for five openings in the coming 18 months. Expansion will take place in the existing market. Preferred demographics include a population of 25,000 within three miles earning $30,000 as the average income. Leases running 20 years are typical.

For more information, contact Harry Cromwell, MHC, Inc., 201 Park Avenue, West Springfield, MA 01089; 413-734-2148, Fax 731-7639.

The Restaurant Company trades as Friendly's Ice Cream at 750 locations in ME, VT, NH, MA, CT, RI, NY, DE, NJ, PA, MD, VA, FL and OH. The family restaurants occupy spaces of 4,000 sq.ft. in freestanding facilities. Plans call for 18 openings in the coming 18 months. Expansion will take place in FL, the Mid-Atlantic and New England regions. Preferred demographics include a population of 30,000 within three miles earning $50,000 as the average income. Leases running 20 years, with options, are typical and the company is franchising. The company cites Perkins and Cracker Barrel as competition.

For more information, contact Joseph McDiarmid, The Restaurant Company, 1855 Boston Road, Wilbraham, MA 01095; 413-543-2400, Fax 543-5844.

Hoss's Steak & Seafood Houses operates 40 locations in NY, PA and WV. The steak and seafood restaurants occupy spaces of 9,400 sq.ft. in freestanding facilities. Plans call for as many as five openings in the coming 18 months. Expansion will take place in PA. Preferred demographics include a population of 35,000 within five miles earning $35,000 as the average income. The company prefers to purchase its locations.

For more information, contact Todd Robinson, Hoss's Steak & Seafood Houses, PO Box 1018, Duncanville, PA 16635; 814-695-7600, Fax 695-3865.

Bill Gray's, Inc. trades as Bill Gray's Restaurant and Tom Wahl's Restaurant at 13 locations in NY. The restaurants, serving hamburgers, hot dogs, french fries and ice cream, occupy spaces of at least 5,000 sq.ft. in freestanding facilities, regional malls and strip centers. Preferred anchors include Kmart and supermarkets. Plans call for two openings in the coming 18 months. Expansion will take place in Rochester, NY. Preferred demographics include a population of 65,000 within five miles earning $30,000 as the average income. Leases running 10 years are typical.

For more information, contact John Gonzalez, Bill Gray's, Inc., PO Box 323, Webster, NY 14580; 716-787-0150, Fax 671-9472.

The Briad Corp. does business as Wendy's and TGIF at 30 locations in CT, NJ, NY and PA. The Wendy's units occupy spaces of 2,500 sq.ft. to 3,500 sq.ft. and the TGIF units occupy spaces of 4,500 sq.ft. in downtown store fronts, freestanding facilities, regional malls, power, specialty and strip centers. Plans call for as many as 15 openings in the coming 18 months. Expansion will take place in the Mid-Atlantic region. Preferred demographics for the Wendy's units include a population of 30,000 within three miles earning $40,000 as the average income and preferred demographics for the TGIF units include a population of 50,000 within seven miles earning $40,000 as the average income. Leases running at least 10 years are typical.

For more information, contact Robert Priscoe, The Briad Group, 25-B Hanover Road, Florham Park, NJ 07932; 201-822-0099, Fax 822-4511.

East of Chicago Pizza Company operates 85 locations in OH, IN and PA. The pizza restaurants occupy spaces of 1,200 sq.ft. to 2,400 sq.ft. in freestanding facilities and strip centers. Plans call for 30 openings in the coming 18 months. Expansion will take place in the existing markets. Leases running five years are typical and the company cites Pizza Hut as competition.

For more information, contact Greg Shepherd, East of Chicago Pizza Company, 318 West Walton Avenue, Willard, OH 44890; 419-935-3033, Fax 935-3278.

Hospitality Syracuse, Inc. trades as Taco Bell at 41 locations in FL, MI and NY. The fast food Mexican restaurants occupy spaces of 750 sq.ft. to 2,500 sq.ft. in freestanding facilities and regional malls. Preferred anchors include Kmart, Target, Wal*Mart and Wegman's. Plans call for as many as 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 at least $25,000 as the average income. Leases running 10 to 20 years are typical.

For more information, contact Ken Underwood, Hospitality Syracuse, Inc., 812 South Garfield, Suite 4, Traverse City, MI 49686; 616-941-5052, Fax 941-2369.

River City Foods does business as Finley's American Restaurant and Rally's at 28 locations in MI and PA. The restaurants occupy spaces of 5,000 sq.ft. to 6,000 sq.ft. in freestanding facilities and regional malls. Growth opportunities are sought in FL and MA. Preferred demographics include a population of 100,000 within five miles earning $50,000 as the average income. Leases running 10 to 15 years are typical and the company is franchising.

For more information, contact Todd Pahl, River City Foods, 201 Monroe Avenue NW #200, Grand Rapids MI 49503; 516-776-7600, Fax 451-2900.

Restaurant Developers Corporation trades as Mr. Hero at 106 locations and Arabica Coffeehouse at 15 locations in NY, OH, PA and VA. The quick-serve restaurants occupy spaces of 1,200 sq.ft. to 2,400 sq.ft. in freestanding facilities and strip centers. Plans call for 30 openings in the coming 18 months. Expansion will take place in KY, IN, MI, OH, PA, VA and WV. Preferred demographics include a population of 25,000 within two miles earning $25,000 as the average income. Leases running five to ten years are typical.

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

Tidewater Management Group, Inc. trades as Arby's at 12 locations in VA. The fast food restaurants occupy spaces of 3,000 sq.ft. in freestanding facilities. Plans call for two openings in the coming 18 months. Expansion will take place in the Hampton Roads area of VA. Preferred demographics include a population of 20,000 within two miles earning $31,000 as the average income. Leases running 20 years are typical.

For more information, contact Dave Meeker, Tidewater Management Group, Inc., 287 Independence Boulevard, Suite 113, Virginia Beach, VA 23462; 757-490-0650, Fax 490-1964.

Mark Pi Companies trades as Mark Pi Chinese Restaurant at 44 locations in KY, IN, MD, MI, NJ, OH, PA and WV. The Chinese restaurants occupy spaces of 400 sq.ft. to 5,000 sq.ft. in freestanding facilities, regional malls and strip centers. Plans call for 20 openings in the coming 18 months. Expansion will take place in the Eastern and Midwestern regions. Preferred demographics include a population of 25,000 within one mile earning $45,000 as the average income. Leases running 10 years are typical and the company is franchising.

For more information, contact G. Bill Burton, Mark Pi Companies, 3120 Valleyview Drive, Columbus, OH 43204; 614-276-0901, Fax 276-0917.

Nathan's Famous, Inc. trades as Nathan's Famous at 23 locations in 23 states, primarily along the East Coast, AZ, CA, MN and NV. The fast food restaurants occupy spaces of 150 sq.ft. to 3,000 sq.ft. in regional malls, outlet and power centers. Plans call for 65 openings in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of 40,000 within three miles earning $52,000 as the average income. Leases running 10 years are typical and the company is franchising.

For more information, contact Carl Paley, Nathan's Famous, Inc., 1400 Old Country Road #1400, Westbury, NY 11590; 516-338-8500, Fax 338-7220.

Pizza Tugos operates five locations in MD and OH. The casual theme restaurants occupy spaces of 10,000 sq.ft. in freestanding facilities and strip centers. Plans call for six openings in the coming 18 months. Expansion will take place in FL, MD and OH. Preferred demographics include a population of 50,000 to 70,000 within five miles earning $65,000 as the average income. Leases running 10 years are typical and the company cites Chili's and Friday's as competition.

For more information, contact Scott Helse, Pizza Tugos, 11623 Coastal Highway, Ocean City, MD 21842; 410-524-2922, Fax 524-2925.

Vie De France Yamazaki, Inc. trades as Vie De France at 29 locations in CA, CT, FL, IL, MD, MI, VA, WV and Washington, D.C. The restaurants, offering sandwiches, soups, salads, coffee and baked products, occupy spaces of 2,000 sq.ft. to 3,000 sq.ft. in strip centers. Preferred anchors include department stores, video stores, drug stores, movie theaters and supermarkets. Plans call for three openings in the coming 18 months. Expansion will take place in CA and VA. Preferred demographics include a population of 200,000 within three miles earning $65,000 as the average income. Leases running 10 years are typical.

For more information, contact E.A. "Skip" Couser, Vie De France Yamazaki, Inc., 2070 Chain Bridge Road #500, Vienna, VA 22102; 703-442-9205, Fax 821-2695.

The Candy Barrel operates 26 locations in CA, NV, OR, WA, ID, UT, CO, TX, LA, MO, FL, VA, MD, PA and NY. The stores, selling bulk candy, occupy spaces of 800 sq.ft. to 1,500 sq.ft. in downtown store fronts, regional malls and specialty centers. Plans call for the opening of four units in the coming 18 months. Expansion will take place nationwide. Leases running five years are typical.

For more information, contact Ken Pierson, The Candy Barrel, 680 Mount Rose Street, Reno, NV 89509; 702-323-2002, Fax 323-8692.

Papa's Pizza To Go, Inc. trades as Papa's Pizza To Go at 80 locations in GA, MS, NC, SC and TN. The restaurants, serving pizza, sandwiches, salads, wings and pasta, occupy spaces of 1,200 sq.ft. in downtown store fronts and strip centers. Preferred anchors include Kmart, Wal*Mart, supermarkets and video stores. Plans call for 18 openings in the coming 18 months. Expansion will take place nationwide. Preferred demographics include a population of three to five thousand within one to four miles earning $30,000 as the average income. Leases running five years, with a five-year option, are typical and the company is franchising.

For more information, contact Ken White, Kathy Underwood or Mark Cairns, Papa's Pizza To Go, Inc., 2825 Breckenridge Boulevard #140, Duluth, GA 30136; 770-279-1434, Fax 279-1450.

Applebee's International, Inc. trades as Applebee's Neighborhood Bar & Grill at 682 locations in 47 states. The casual restaurants occupy spaces of 5,000 sq.ft. in freestanding facilities, regional malls, power and strip centers. Preferred anchors include Kmart, Target, Toys 'R Us, Wal*Mart and supermarkets. Plans call for 120 openings in the coming 18 months. Expansion will take place nationwide. Preferred demographics include a population of 75,000 within three miles earning $35,000 as the average income. Leases running 15 years are typical and the company is franchising.

For more information, contact Jim Kirkpatrick, Applebee's International, Inc., 4551 West 107th Street #100, Overland Park, KS 66207; 913-967-4000, Fax 341-4970.

Restaurants Unlimited, Inc. trades as Palomino Euro Bistro and Kincaid's Fish, Chop and Steak House at 27 locations in AK, CA, HI, IN, MN, PA and WA. The upscale restaurants occupy spaces of 8,000 sq.ft. to 10,000 sq.ft. in downtown store fronts. Preferred co-tenants include upscale retailers. Plans call for six openings in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of 400,000 within seven miles earning $60,000 as the average income. Leases running 10 years, with three five-year options, are typical.

For more information, contact Rick Giboney, Restaurants Unlimited, Inc., 1818 North Northlake Way, Seattle, WA 98103; 206-634-0550, Fax 632-3533.

Jewelry Stores Expanding in The Eastern States

Carlyle & Co. Jewelers trades as Carlyle & Co., Jewel Box and LaVake Jewelers and Silversmiths at 81 locations in AL, DE, FL, GA, KY, NC, PA, SC, TN, VA and WV. The jewelry stores occupy spaces of 1,500 sq.ft. to 3,000 sq.ft. in freestanding facilities, regional malls and strip centers. Preferred anchors include Lord & Taylor. Plans call for eight openings in the coming 18 months. Expansion will take place in DE, FL, GA, NC, PA, SC, TN and VA. Preferred demographics include a population of 100,000 within 15 miles earning $55,000 as the average household income. Leases running 10 years are typical.

For more information, contact Martin Bernstein, Carlyle & Co. Jewelers, PO Box 21768, Greensboro, NC 27420-1768; 910-218-7290.

The Hyman Companies, Inc. trades as N. Hyman Jewelers and Landau Collection at 44 locations in AZ, CA, CT, FL, IL, MA, NV, NJ, NY, PA, TX and VA. The stores, selling costume jewelry and accessories, occupy spaces of 300 sq.ft. to 1,500 sq.ft. in downtown store fronts and regional malls. Preferred co-tenants include Gucci, Neiman Marcus and Chanel. Plans call for 30 openings in the coming 18 months. Expansion will take place nationwide.

For more information, contact Nat Hyman, The Hyman Companies, Inc., 833 North 13th Street, Allentown, PA 18102; 610-433-4114, Fax 433-2790.

Christian Bernard Stores Corp. trades as Christian Bernard at 16 locations in CA, FL, IL, MD, NJ, NY, VA and Washington, D.C. The jewelry stores occupy spaces of 1,000 sq.ft. in regional malls. Preferred anchors include Saks, Neiman Marcus, Bloomingdale's and Nordstrom. Plans call for two openings in the coming 18 months. Expansion will take place in the Northeastern region, CA, FL and IL. Preferred demographics include a population of 200,000 within 15 miles earning $100,000 as the average income. Leases running 10 years are typical and the company cites Tiffany, Baily Banks & Biddle and Nordstrom as competition.

For more information, contact Pierre Tardy, Christian Bernard Stores Corp., 200 Meadowland Parkway, Secaucus, NJ 07094; 201-330-1007, Fax 330-0661.

Sedgwick Sales, Inc. does business as Golden Chain International, Golden Chain Gang and Grand Illusion at 185 locations in AL, AK, CA, FL, GA, IL, IN, IA, KS, KY, LA, MN, MI, MO, NE, NC, ND, OH, OK, PA, SC, SD, TN, TX, UT, VA, WV, WI and WY. The jewelry stores occupy spaces of 160 sq.ft. to 270 sq.ft. in regional malls. Preferred co-tenants include apparel retailers. Plans call for 25 openings in the coming 18 months. Expansion will take place in the existing markets as well as in NJ. Leases running three to five years are typical.

For more information, contact Greg Stapley, Sedgwick Sales, Inc., 1040 Calle Recodo, San Clemente, CA 92673; 714-366-8610, Fax 366-8620.

Lease Signings

The Schultz Brokerage Services Group (908-855-0001) leased 1,600 sq.ft. to Garden State Sunrooms at Cobblestone Village in Ocean Township, NJ and 3,000 sq.ft. to Dollar Enjoy at Lakewood Shopping Center in Lakewood, NJ.

James E. Hanson, Inc. (201-488-5800) leased 20,000 sq.ft. to Worlds Gym in Paramus, NJ; 2,000 sq.ft. to Fence Depot at Plaza 17 in Upper Saddle River, NJ and 3,500 sq.ft. to King Buffet Restaurant and 1,500 sq.ft. to Ramapo Hearing Aid Center at Caldor Shopping Center in Tallman, NY.

Metro Commercial Real Estate, Inc. (609-866-1900) leased 24,500 sq.ft. to Staples at Gateway Shopping Center in Devon, PA. The company, in conjunction with Divaris Real Estate, leased space to 3600 Communications at Viewpoint Mall in Scranton, PA; North Hanover Mall in Hanover, PA; Lycoming Mall in Williamsport, PA; Nittany Mall in State College, PA; Stroud Mall in Stroudsburg, PA; Johnstown Galleria in Johnstown, PA; York Galleria in York, PA and Chelsea Square Shopping Center in Lancaster, PA.

Bryant Development Corp. (914-701-4300) leased 5,200 sq.ft. to Somerset Tire Service and 7,700 sq.ft. to Hallmark Cards at Washington Center Shopping Center in Washington Township, NJ; 2,200 sq.ft. to New York Bagel at Academy Plaza Shopping Center in Philadelphia, PA and 6,500 sq.ft. to Gymnastics and More at Village Square Shopping Center in Myrtle Beach, SC.

Paragano Associates (201-376-1010) leased 25,357 sq.ft. to Staples and 2,400 sq.ft. to Taco Bell at Windsor-Hights Center in East Windsor, NJ.

Divaris Real Estate, Inc. (757-497-2113) leased 1,645 sq.ft. to U.S. Medical Weight Loss Centers and 1,200 sq.ft. to Fashion Nails at Dunlop Village Shopping Center in Colonial Heights, VA; 2,400 sq.ft. to My Gym at Kendall Plaza in Miami, FL; 2,700 sq.ft. to My Gym at Buttonwood Plaza in Delray Beach, FL; 4,800 sq.ft. to Goodwill Industries in Virginia Beach, VA; 3,200 sq.ft. to Furniture Brokers at Hilltop Plaza Shopping Center in Virginia Beach, VA; 1,589 sq.ft. to Igloo Sports at Pinellas Square Mall in Pinellas Park, FL; 3,659 sq.ft. to Hearth & Patio at TJ Maxx Center in Richmond, VA and 8,500 sq.ft. to Vanloan & Thanh Nguyen for a Vietnamese restaurant in Richmond, VA.

The Goldstein Group (201-703-9700) leased space to Blockbuster Video and Dots at Lakewood Shopping Center in Lakewood, NJ and space to West Coast Video in Jersey City, NJ.

Richardson Real Estate Co. (757-461-3271) leased 40,000 sq.ft. to Food Lion in Chesapeake, VA.

Duke Realty Investments (317-575-8888) leased 18,500 sq.ft. to CostPlus Imports and 50,000 sq.ft. to Dick's Clothing & Sporting Goods at Western Hills Marketplace in Cincinnati, OH and 28,000 sq.ft. to CompUSA, 19,000 sq.ft. to CostPlus Imports and 26,000 sq.ft. to PetsMart at Tri-County Marketplace in Cincinnati, OH.

General Merchandise Retailers Seeking Sites

D&K Stores, Inc. trades as D&K Stores at 147 locations in DE, MD, NJ, NY and OH. The general merchandise stores occupy spaces of 5,000 sq.ft. to 10,000 sq.ft. in downtown store fronts, regional malls and strip centers. Preferred anchors include Kmart, TJ Maxx, Wal*Mart and supermarkets. Plans call for as many as 50 openings in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of at least 10,000 within three miles earning at least $15,000 as the average income. Leases running three years, with two five-year options, are typical and the company cites dollar stores as competition.

For more information, contact D. Edward Baker, D&K Stores, Inc., PO Box 279, Dover, PA 17315; 717-292-2653, Fax 292-7737.

Dollar Tree Stores, Inc. trades as Dollar Tree at 885 locations in the Eastern half of the United States. The general merchandise stores, offering merchandise at fixed price-points, occupy spaces of 4,000 sq.ft. in power centers. Preferred anchors include Wal*Mart and supermarkets. Preferred demographics include a population of at least 25,000 within five miles earning at least $25,000 as the average income. Leases running four years, with options, are typical.

For more information, contact Dave Thomas, Dollar Tree Stores, Inc., 2555 Ellsmere Avenue, Norfolk, VA 23513; 757-857-4600, Fax 857-6848.

Building #19, Inc. trades as Building #19 at 13 locations in MA, NH and RI. The general merchandise stores occupy spaces of 60,000 sq.ft. in freestanding facilities and strip centers. Plans call for as many as two openings in the coming 18 months. Expansion will take place in the existing markets. Leases running 10 to 20 years are typical.

For more information, contact Ms. Lee MacDonald, Building #19, Inc., 19 Shipyard Drive, Hingham, MA 02043; 617-749-6900, Fax 749-3691.

Convenience Stores Expanding in The Eastern Region

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

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

Chico Dairy Company trades as Dairy Mart-All Star Express and Hero Hut at 38 locations in MD, OH, PA and WV. The convenience stores, which also sell gasoline, occupy spaces of 3,500 sq.ft. to 3,800 sq.ft. in freestanding facilities. Growth opportunities are sought in the existing markets.

For more information, contact Sam Chico, Jr., Chico Dairy Company, 331 Beechurst Avenue, Morgantown, WV 26505; 304-292-9433, Fax 292-1527.

Norbert E. Mitchell Co., Inc. trades as Citgo/Sunoco at eight locations in CT. The convenience stores occupy spaces of 2,500 sq.ft. in freestanding facilities. Plans call for two openings in the coming 18 months. Expansion will take place in Fairfield County, CT and Putnam and Westchester counties in NY. Preferred demographics include a population of 100,000 within five miles earning $28,000 as the average income.

For more information, contact Norbert Mitchell, Norbert E. Mitchell Co., Inc., 7 Federal Road, Danbury, CT 06810; 203-744-0600, Fax 743-7978.

Landhope Farms Corp. trades as Landhope Farms at 15 locations in DE, MD and PA. The convenience stores occupy spaces of 2,800 sq.ft. to 4,500 sq.ft. in freestanding facilities. Plans call for three openings in the coming 18 months. Expansion will take place in the existing markets. Leases running 35 years are typical and the company cites Wawa and major oil company convenience stores as competition.

For more information, contact Mark Meleski, Landhope Farms Corp., 101 East Street Road, Kennett Square, PA 19348; 610-444-3300, Fax 444-2926.

Sado Gas Sales, Inc. trades as Stop-N-Gas at 16 locations in NY. The convenience stores, which also sell gasoline, occupy spaces of 500 sq.ft. to 2,000 sq.ft. in freestanding facilities. Plans call for two openings in the coming 18 months. Expansion will take place in western NY and Boca Raton, FL.

For more information, contact Robert Saxon, Sado Gas Sales, Inc., 4100 Saint Francis Drive, Hamburg, NY 14075; 716-627-4435, Fax 627-4339.

M.W.S. Enterprises, Inc. does business as Yellow Goose at 33 locations in NY. The convenience stores occupy spaces of 3,000 sq.ft. in freestanding facilities. Plans call for 10 openings in the coming 18 months. Expansion will take place in western NY, northwestern PA and Canada. Preferred demographics include a population of 5,000 within two miles earning $40,000 as the average income. Leases running 20 years are typical and the company is franchising.

For more information, contact Mark Sidebottom, M.W.S. Enterprises, Inc., 5701 Transit Road, East Amherst, NY 14051; 716-689-0600, Fax 689-2160.

Lead Sheet

A.C. Moore, Inc.

dba A.C. Moore Arts & Crafts

Sandra Adler, Iro DiPalma

500 University Court

Blackwood, NJ 08021

609-228-6700, Fax 228-0080

Arts & Crafts

The 25-unit chain operates locations in CT, DE, MD, MA, NJ, NY and PA. The stores, selling arts and crafts, occupy spaces of 20,000 sq.ft. in power centers. Preferred anchors include Bed Bath & Beyond, Home Depot and Target. Plans call for more than 15 openings in the coming 18 months. Expansion will take place throughout the Northeastern region. Preferred demographics include a population of 150,000 within five miles earning $40,000 as the average income. Leases running 10 years, with four five-year options, are typical and the company cites MJ Designs and Michaels as competition.

MJ Designs, Inc.

dba MJ Designs

Mike Nuzum

500 Airline Drive

Coppell, TX 75019

972-304-2200, Fax 304-2225

Arts & Crafts

The 57-unit chain operates locations in GA, MD, NY, NC, TX and VA. The arts and crafts stores occupy spaces of 30,000 sq.ft. in power centers. Plans call for 20 openings in the coming 18 months. Expansion will take place in the existing markets. Leases running 10 years are typical.

Somerset Tire Service, Inc.

dba STS

Ted Haase

PO Box 2001

Bound Brook, NJ 08805

908-356-8500, Fax 356-8821

Automotive

The 60-unit chain operates locations in NJ, NY and PA. The automotive service centers occupy spaces of 5,350 sq.ft. in freestanding facilities. Plans call for 20 openings in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of 10,000 within one mile earning $50,000 as the average income. Leases running 15 years are typical and the company cites Goodyear, NTB and Pep Boys as competition.

Diamonds Hallmark

Richard Rosenberg

3 Park Avenue

New York, NY 10016

212-679-2257, Fax 679-3850

Cards & Gifts

The 20-unit chain operates locations in NJ and NY. The card stores occupy spaces of 4,000 sq.ft. in regional malls. Preferred anchors include better department stores. Growth opportunities are sought in the existing markets.

Ames Department Stores, Inc.

dba Ames

John Hlis

2418 Main Street

Rocky Hill, CT 06067

860-257-2000, Fax 257-5160

Department Stores

The 296-unit chain operates locations in CT, DE, ME, MD, MA, NH, NJ, OH, PA, RI, VT, VA, WV and Washington, D.C. The discount department stores occupy spaces of 65,000 sq.ft. in regional malls and strip centers. Preferred co-tenants include supermarkets. Plans call for as many as 20 openings in the coming 18 months. Expansion will take place in Mid-Atlantic and Northeastern regions. The company cites Kmart and Wal*Mart as competition.

Peebles, Inc.

dba Peebles Department Stores

David Bordsen

One Peebles Street

South Hill, VA 23970

804-447-5414, Fax 447-5474

Department Store

The 85-unit chain operates locations in AL, DE, SC, NC, VA, MD, PA, NJ, NY, OH, KY and TN. The department stores occupy spaces of 15,000 sq.ft. to 35,000 sq.ft. in regional malls and strip centers. Preferred anchors include supermarkets. Plans call for 10 openings in the coming 18 months. Expansion will take place in the existing markets. Leases running 15 years are typical.

Powermax Equipment

Andi Pesacov

c/o Equity Properties

600 Haverford Road, Suite 204

Haverford, PA 19041

610-645-7700, Ext. 112, Fax 645-5454

Drycleaners

The 18-unit chain operates locations in PA. The drycleaners and laundromats, occupy spaces of 1,500 sq.ft. to 3,000 sq.ft. in downtown store fronts, power and strip centers. Preferred anchors include supermarkets. Plans call for 10 openings in the coming 18 months. Expansion will take place in the existing market. Preferred demographics include a population of 50,000 within three miles earning $40,000 as the average income. Leases running 10 years are typical and the company prefers a vanilla shell.

Leisure Entertainment Corp.

dba Laser Quest

Randy Iaboni

c/o Randy Iaboni Real Estate, Ltd.

12 MacPherson Avenue, Number 4

Toronto, Ontario, CN M5R 1W8

416-925-7767

Entertainment

The 54-unit chain operates locations in NC, KY, MI, TN, VA, UT, WA, OK, OH, CO, TX, CA, AZ, KS, IL, NY, PA, NE, WI and Canada. The Laser-Tag facilities occupy spaces of 7,500 sq.ft. to 10,000 sq.ft. in freestanding facilities and strip centers. Preferred co-tenants include multiplex movie theaters, regional malls and other recreational facilities. Plans call for 20 openings in the coming 12 months. Expansion will take place nationwide. Preferred demographics include a population of 250,000 within seven miles earning $40,000 as the median income. Leases running 10 years are typical.

American Woman Fitness Centers

Jerry Brunetto

440 Market Street

Elmwood Park, NJ 07407-2607

201-796-7300

Health & Fitness

The six-unit chain operates locations in NJ. The women's fitness centers occupy spaces of 8,000 sq.ft. to 10,000 sq.ft. in strip centers. Preferred anchors include Kmart and supermarkets. Plans call for two openings in the coming 18 months. Expansion will take place in NJ and NY. Leases running 10 years are typical.

The Robert Organization

dba Lucille Roberts Health Clubs,

Lucille Roberts Express

Rick Greenberg

10 East 80th Street

New York, NY 10021

212-734-0500, Fax 628-0809

Fitness

The 51-unit chain operates locations in NJ and NY. The women's fitness clubs occupy spaces of 3,500 sq.ft. to 4,000 sq.ft. for the Express concept and 6,000 sq.ft. to 10,000 sq.ft. for the clubs in downtown store fronts, freestanding facilities, specialty and strip centers. Plans call for 12 club openings and 20 Express openings in the coming 18 months. Expansion will take place in NJ, NY and PA. Leases running 15 years are typical.

Merle Norman Cosmetics

dba Merle Norman Cosmetic Studios

Jennifer Wolsky

9130 Bellanca Avenue

Los Angeles, CA 90045

310-641-3000, Fax 337-2370

Health & Beauty

The 2,161-unit chain operates locations throughout North America. The stores, selling Merle Norman cosmetics and skincare products, occupy spaces of 600 sq.ft. in regional malls. Plans call for 100 openings in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of 50,000 within three miles earning $35,000 as the average income. Leases running at least five years are typical and the company is franchising.

The Sleep Train, Inc.

dba The Sleep Train

Dale Carlsen

4380 Warehouse Court

North Highlands, CA 95660

916-575-1452, Fax 575-1660

Home Furnishings

The 23-unit chain operates locations in CA, OR and WA. The stores, selling mattresses, occupy spaces of 4,500 sq.ft. in strip centers. Plans call for 20 openings in the coming 18 months. Expansion will take place in the San Francisco Bay area, CA and Portland, OR area. Leases running five years are typical.

MRM Marketing Network

dba Floor To Ceiling Store

Mike Scherer

216 North River Edge Circle

Burnsville, MN 55337

612-890-8979, Fax 890-3818

Home Improvement

The 54-unit chain operates locations in IL, IN, IA, KS, MN, NE, NC, ND, SD and WI. The stores, selling floor coverings, kitchen and bath items and decorative products, occupy spaces of 8,000 sq.ft. to 15,000 sq.ft. in freestanding facilities, specialty and strip centers. Plans call for 25 openings in the coming 18 months. Expansion will take place nationwide. The company is franchising.

Quality Stores, Inc.

Donald Kettler

455 East Ellis Road

North Muskegon, MI 49441

616-798-8787, Fax 798-0134

Home Improvement

The 103-unit chain operates locations in MI, IN, NY, OH, PA, VA and WV. The home improvement stores occupy spaces of 30,000 sq.ft. to 35,000 sq.ft. in freestanding facilities and strip centers. Preferred anchors include Kmart, Wal*Mart and supermarkets. Plans call for 18 openings in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of 30,000 within 10 miles earning $30,000 as the average income. Leases running five to ten years are typical.

Clean Rite Centers LLC

dba Clean Rite Centers

Timothy King

22-26 129th Street

College Point, NY 11356

718-445-3400, Fax 445-5500

Laundromat

The 12-unit chain operates locations in NY. The self-service laundormats occupy spaces of 4,000 sq.ft. to 8,000 sq.ft. in downtown store fronts, freestanding facilities and strip centers. Plans call for 36 openings in the coming 18 months. Expansion will take place in the New York City metropolitan area, CT and NJ. Preferred demographics include a population of 60,000 within one mile earning $38,000 as the average income.

J.R. Holcomb & Co.

dba Holcomb Educational Materials

Bob Krajnak

3205 Harvard Avenue

Cleveland, OH 44105

216-341-3000, Fax 341-5151

Office Supply

The 13-unit chain operates locations in OH and PA. The stores, selling educational items, occupy spaces of 4,000 sq.ft. to 4,500 sq.ft. in power, specialty and strip centers. Preferred anchors include OfficeMax, Kmart, bookstores, drug stores and supermarkets. Plans call for the opening of four units in the coming 18 months. Expansion will take place in MI, OH and PA. Preferred demographics include a population of 150,000 within five miles earning $45,000 as the average income. Leases running five years are typical.

U.S. Factory Outlets, Inc.

dba U.S. Factory Outlets

Frederic Raiff

Seven Penn Plaza

New York, NY 10001

212-563-3650, Fax 967-9872

Outlet

The 24-unit chain operates locations nationwide. The stores, selling general merchandise at closeout prices, occupy spaces of 36,000 sq.ft. to 52,000 sq.ft. in regional malls, outlet, power and strip centers. Plans call for six openings during 1997 and eight openings during 1998. Expansion will take place nationwide, with the exception of WA.

Moto Photo, Inc.

dba Moto Photo

Alan Cohen

4444 Lake Center Drive

Dayton, OH 45426

937-854-6686, Fax 854-0140

Photography

The 445-unit chain operates locations in AZ, CA, CO, CT, FL, GA, IL, IN, KY, KS, MD, MA, ME, MI, MN, NC, NJ, NY, OH, OK, PA, RI, TN, TX, UT, VA, WI and Washington, D.C. The stores, selling cameras and offering photo processing services, occupy spaces of 1,400 sq.ft. in downtown store fronts, freestanding facilities and strip centers. Preferred anchors include drug stores and supermarkets. Plans call for as many as 75 openings in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of 75,000 within three miles earning $53,000 as the average income. Leases running five years, with a five-year option, are typical and the company is franchising.

Pinch A Penny

Bob Slaughter

14480 62nd Street North

Clearwater, FL 34620

813-531-8913, Fax 536-8066

Specialty

The 113-unit chain operates locations in AL, FL and GA. The stores, selling swimming pool supplies, patio furniture and accessories, occupy spaces of 3,500 sq.ft. in strip centers. Plans call for as many as 10 openings in the coming 18 months. Expansion will take place in the Southeastern region. Leases running five years are typical and the company is franchising.

Omega Sports, Inc.

dba Omega Sports

Philip Bowman

4118 Spring Garden Street

Greensboro, NC 27407

910-854-0766, Fax 299-1043

Sporting Goods

The 10-unit chain operates locations in NC. The sporting goods stores occupy spaces of 5,000 sq.ft. to 8,000 sq.ft. in power centers. Preferred anchors include TJ Maxx, Wal*Mart, Barnes & Noble and Old Navy. Plans call for as many as four openings in the coming 18 months. Expansion will take place in NC, SC and VA. Leases running five years, with three five-year options, are typical.

Schuylkill Valley Sporting Goods

Randy Ruch

136 Greentree Road #130

Oaks, PA 19456

610-666-0537, Fax 666-1854

Sporting Goods

The nine-unit chain operates locations in PA. The stores, selling sporting goods, athletic apparel and footwear, occupy spaces of 4,500 sq.ft. to 6,500 sq.ft. in regional malls. Preferred anchors include department stores. Plans call for one opening in the coming 18 months. Expansion will take place in the existing market. Leases running seven years are typical.

Travel Network, Ltd.

dba Travel Network

M. Brent

4560 Sylvan Avenue

Englewood Cliffs, NJ 07632

201-567-8500, Ext. 24, Fax 567-4405

Travel

The 425-unit chain operates locations in 38 states. The travel agencies occupy spaces of 400 sq.ft. to 1,000 sq.ft. in power centers and regional malls. Preferred anchors include department stores and supermarkets. Plans call for as many as 100 openings in the coming 18 months. Expansion will take place nationwide. Preferred demographics include a population of 30,000 within 15 miles earning $33,000 as the average income. Leases running 10 years are typical and the company is franchising.

Dentt, Inc.

dba Hammond Toy & Hobby

Gale Hammond

4171 Marquis Way

Salt Lake City, UT 84124-3117

801-278-0157

Toys

The seven-unit chain operates locations in UT. The stores, selling toys and hobby kits, occupy spaces of 1,500 sq.ft. to 3,500 sq.ft. in regional malls. Plans call for one opening in the coming 18 months. Expansion will take place in the existing market. Leases running five years are typical and the company, which is franchising, cites KB Toys, Toys 'R Us and Wal*Mart as competition.

Home Decor Retailers Looking To Expand in The East

LeeJay, Inc. trades as Boston Bed & Bath at 33 locations in ME, MA, NJ, PA, RI and VT. The stores, selling housewares, domestics and linens, occupy spaces of 14,000 sq.ft. to 16,000 sq.ft. in strip centers. Preferred anchors include TJ Maxx, Home Depot and women's specialty stores. Plans call for the opening of four units in the coming 18 months. Expansion will take place in the existing markets and CT. Preferred demographics include a population of 200,000 within five miles earning $50,000 as the average income. The company cites department stores, Linens 'N Things and Bed Bath & Beyond as competition.

For more information, contact Kenneth Rogers, Leejay, Inc., 31 Commercial Street, Sharon, MA 02067; 617-793-0300, Fax 784-2277.

Platypus, Inc. operates nine locations in DE, NJ, NY, PA and Washington, D.C. The stores, selling housewares, furniture and gifts, occupy spaces of 4,000 sq.ft. to 5,000 sq.ft. in regional malls, power and specialty centers. Preferred co-tenants include upscale specialty stores. Plans call for as many as eight openings in the coming 18 months. Expansion will take place along the East Coast. Preferred demographics include a population of 500,000 within five to ten miles earning $75,000 as the average income. Leases running five to ten years are typical and the company cites Crate & Barrel, Williams Sonoma and Pottery Barn as competition.

For more information, contact Scott Lifschultz, Playtus, Inc., c/o The Greenberg Group, 1200 West Broadway, Hewlett, NY 11557; 516-295-0406, Fax 374-0999.

Waccamaw Corp. trades as Waccamaw Pottery at 43 locations in AL, FL, GA, IL, IN, MD, NY, NC, OH, SC and VA. The houseware stores occupy spaces of 50,000 sq.ft. in power and strip centers. Preferred co-tenants include TJ Maxx and supermarkets. Plans call for 10 openings in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of 70,000 within three miles earning $40,000 as the average income. Leases running 15 years are typical and the company cites Bed Bath & Beyond and Linens 'N Things as competition.

For more information, contact Marc Campbell, Waccamaw Corp., 3200 Pottery Drive, Myrtle Beach, SC 29577; 803-236-4606, Fax 236-7718.

Mattress Discounters operates 170 locations in CA, MD, MA, MI, NJ, PA, RI, VA and Washington, D.C. The stores, selling mattresses, occupy spaces of 3,000 sq.ft. to 4,000 sq.ft. in freestanding facilities. Plans call for as many as 25 openings in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of 200,000 within five miles earning $40,000 as the average income. Leases running five years are typical. The company cites department stores and furniture stores as competition.

For more information, contact Lawrence Alpert, Mattress Discounters, 9822 Fallard Court, Upper Marlboro, MD 20772; 301-856-6755, Fax 599-8157.

Lemoyne Sleeper Co., Inc. trades as Lemoyne Sleeper at nine locations in PA. The stores, selling bedroom furniture and mattresses, occupy spaces of 5,000 sq.ft. to 7,500 sq.ft. in freestanding facilities, specialty and strip centers. Preferred anchors include Kmart, Wal*Mart and supermarkets. Plans call for five openings in the coming 18 months. Expansion will take place between Philadelphia and Pittsburgh, PA and in northern MD. Preferred demographics include a population of 65,000 within five miles earning $27,000 as the average income. Leases running five years, with a five-year option, are typical and the company, which is franchising, cites department stores and furniture stores as competition.

For more information, contact Marty Lowy, Lemoyne Sleeper Co., Inc., Third & Bosler Avenue, Lemoyne, PA 17043; 717-763-1630, Fax 763-1634.

Financial News

Brinker International, Inc. (972-980-9917) reported that its first quarter revenues increased 21.8% to $376 million from $308.7 million during its first quarter last year. During its first quarter, the company opened 25 restaurants, including Chili's units in Beijing, China and Lima, Peru. Overall, the company operates 735 restaurants trading as Chili's Grill & Bar, Romano's Macaroni Grill, On The Border Cafes, Cozymel's Coastal Mexican Grill, Maggiano's Little Italy, Corner Bakery and Eatzi's Market & Bakery.

General Nutrition Companies, Inc. (412-288-4600) reported that its third quarter consolidated revenues increased 23% to $278 million from $226 million during the third quarter last year. Net earnings for the quarter increased 34% to $23.9 million from $17.8 million during the quarter last year. Comparable store sales increased 10.1% for the quarter at company-owned domestic locations and 22.1% for domestic franchised-owned locations. The company currently operates and franchises 3,291 stores trading as General Nutrition Centers, Nature Food Centre, Health & Diet Centre, Amphora, Nature's Fresh and GNC Live Well in all 50 states, Puerto Rico and 18 foreign countries.

CompUSA, Inc. (972-982-4000) reported that its net sales for its first fiscal quarter increased 20.3% to $1.19 billion from $990 million. Net income increased 61.3% to $23.5 million from $14.5 million during its first quarter last year. Comparable store sales increased 6.1% for the quarter. During the quarter, the company opened five stores and is planning to open 14 stores during its second quarter. Currently, the company operates 136 stores in 61 major metropolitan areas.

IHOP Corp. (818-240-6055) reported that its third quarter net income increased 6.4% to $5.7 million from $5.3 million during the third quarter last year. Third quarter system-wide sales increased 11.6% to $233 million. Comparable restaurant sales increased 3.8%. During the quarter, the company opened 17 units and currently operates and franchises 762 restaurants in 36 states, Canada and Japan.

The Dress Barn, Inc. (914-369-4600) reported that sales for its first quarter increased nine percent to $156.2 million from $142.8 million during its first quarter last year. Comparable store sales increased six percent for the quarter. The company currently operates 691 stores trading as Dress Barn and Dress Barn Woman in 43 states.

Planet Hollywood International, Inc. (407-363-7827) reported that its third quarter revenues increased 34% to $149.6 million from $111.8 million during the third quarter last year. Income from operations during the quarter increased 39% to $39.1 million with net income up 30% to $25.2 million from $19.4 million last year. During the quarter, the company opened eight units and currently operates and franchises 71 units worldwide. The company also opened two All-Star Cafes and currently operates and franchises nine units in three countries.

Just For Feet, Inc. (205-408-3000) reported that its third quarter consolidated net sales increased 87.9% to $131 million from $69.7 million during the third quarter last year. Comparable store sales increased 4.9% for the quarter. During the quarter, the company opened five superstores and currently operates and franchises 72 Just For Feet superstores and 140 specialty stores in 18 states and Puerto Rico.

Hollywood Entertainment Corp. (503-570-1600) reported that its third quarter revenues increased 65% to $124.6 million from $75.7 million during the third quarter last year. Third quarter income was $5.1 million, down from $5.8 million during the third quarter last year. The decrease was primarily attributed to a net charge related to the early retirement of debt. Income from operations during the quarter increased to $12.1 million, up 11% from last year and comparable store sales increased two percent for the quarter. During the third quarter, the company opened 121 stores and currently operates 782 video stores in 39 states.

Space Place

Connecticut

Bristol- Spaces of 1,000 sq.ft. to 9,000 sq.ft. are available for lease at a project anchored by Caldor, Blockbuster Video, Shaw's, Toy Works, Fashion Bug and Olympia Sports. In Danbury- Spaces of 1,329 sq.ft. and 4,900 sq.ft. are available for lease. The sites are located near Danbury Fair Mall. In Glastonbury- A 10,000 sq.ft. space is available for lease. The site is located adjacent to The Gap and Ann Taylor. In Greenwich- A 1,320 sq.ft. space is available for lease in the downtown area. In Manhasset- An 18,000 sq.ft. two-story space is available for lease. The site is located near Lord & Taylor and Barnes & Noble. In Monroe- Two spaces of 20,000 sq.ft. each are available for lease. In Newington- A 21,350 sq.ft. space is available for lease. The site is located near Pier 1, Tweeter, Caldor and Dress Barn. In Norwalk- Spaces from 5,480 sq.ft. to 11,800 sq.ft. are available for lease. The spaces are located near Old Navy, Party City, CompUSA and Barnes & Noble. In Orange- Spaces from 28,500 sq.ft. to 50,000 sq.ft. are available for lease fronting Route 1. In Stamford- Spaces from 5,000 sq.ft. to 25,000 sq.ft. are available for lease. The sites are located near Macy's, Saks, JC Penney and Crown Cinemas. In Stratford- Spaces from 5,500 sq.ft. to 10,000 sq.ft. are available for lease. The space is located near The Dock Retail Marina. In Vernon- Spaces from 1,500 sq.ft. to 30,600 sq.ft. are available for lease. The space is located near Stop & Shop, Sears Hardware and Kmart.

For details, contact Michael Ant