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The Dealmakers Issue Number 4 for the week
of February 4, 2000
Drug Stores Looking To Expand Nationwide
Medicap Pharmacies Inc. trades as Medicap
Pharmacy at 154 locations nationwide. The drug stores occupy spaces of 1,500 sq.ft. in
freestanding facilities, specialty and strip centers. Freestanding units require a land
area of 15,000 sq.ft. Preferred anchors include supermarkets and medical buildings. Plans
call for 30 openings in the coming 18 months. Expansion will take place nationwide.
Preferred demographics include a population of 10,000 within two miles. Leases running at
least five years and turnkey are typical and the company is franchising. The chains
customer profile is the 50+ age range earning middle to low incomes.
For more information, contact John Pittarelli,
Medicap Pharmacies Inc., 4700 Westown Parkway #300, West Des Moines, IA 50266-6730;
515-224-8400, Fax 224-8415, home page www.medicaprx.com.
Aurora Health Care trades as Aurora Pharmacy
at 87 locations in WI. The drug stores occupy spaces of 650 sq.ft. to 1,000 sq.ft. in
freestanding facilities, strip centers and medical buildings. Preferred anchors include
supermarkets. Plans call for 12 openings in the coming 18 months. Expansion will take
place in Eastern WI. Leases running five years, with two options of five years each are
typical, as is a vanilla shell. The company cites Kmart, Osco, Walgreens and Wal*Mart
as competition.
For more information, contact Dennis Rokowski, 3000
West Montana Street, Milwaukee, WI 53215-3628; 414-647-3023, Fax 647-3494.
Gresham Drugs, Inc. trades as Gresham Drugs
and Gresham & Son Health Care at 11 locations in FL. The drug stores occupy
spaces of 2,000 sq.ft. in freestanding facilities, strip centers and medical buildings.
Growth opportunities are sought in FL. Leases running five years are typical.
For more information, contact Steve Gresham, Gresham
Drugs, Inc., 3210 SW 40th Boulevard, Gainesville, FL 32608; 352-338-6266, Fax 335-0342.
Patterson Drug Inc. trades as Patterson Drug
and Pioneer Drug at four locations in CA. The drug stores occupy spaces of 10,000
sq.ft. in freestanding facilities. Growth opportunities are sought in the existing market.
Leases running five years are typical. The company owns three of its locations.
For more information, contact Andrew Barasamian,
Patterson Drug Inc., 47 Del Puerto Avenue, Patterson, CA 95363; 209-892-6182, Fax
892-4487.
Albertsons does business as Sav-On at 300
locations in AZ, CA and NV. The drug stores occupy spaces of 15,000 sq.ft. in freestanding
facilities. Growth opportunities are sought in the existing markets. The company prefers
to own its locations, but does sign leases running 25 years, with options.
For more information, contact Monte Conrad,
Albertsons, 6565 Knott Avenue, Buena Park, CA 90620-1158; 714-739-6738, Fax 739-6744.
Discount Drug Mart operates 47 locations in OH.
The deep discount drug stores occupy spaces of 25,000 sq.ft. in freestanding facilities
and strip centers. Plans call for six openings in the coming 18 months. Expansion will
take place in the existing market. Leases running 15 years are typical.
For more information, contact Bill Malin, Discount
Drug Mart, 211 Commerce Drive, Medina, OH 44256; 330-725-2340, Fax 722-2990.
McAuley Pharmacy operates eight locations in MI.
The drug stores occupy spaces of 1,000 sq.ft. to 1,200 sq.ft. in specialty and strip
centers as well as medical buildings. Plans call for two openings in the coming 18 months.
Expansion will take place in the existing market. Preferred demographics include a
population of 10,000 within three miles earning at least $30,000 as the average income.
Leases running five to fifteen years are typical.
For more information, contact Raymond Grzegorczyk,
McAuley Pharmacy, 3075 Clark Road, Suite 108, Ypsilanti, MI 48197; 734-712-4011, Fax
712-3848.
Thrifty White Stores trades as Thrifty Drug
and White Drug Stores at 50 locations in IA, MN, MT, ND, SD and WI. The drug stores
occupy spaces of 8,000 sq.ft. to 10,000 sq.ft. in freestanding facilities and strip
centers. Growth opportunities are sought in the existing markets. Leases running five to
seven years are typical.
For more information, contact Bob Narveson, Thrifty
White Stores, 10700 Highway 55, Minneapolis, MN 55441; 612-513-4300, Fax 513-4380.
New Construction
Pacific Development Group is developing phase II
of Plaza Pacifica in San Clemente, CA. The 450,000 sq.ft. project will be anchored
by a 57,000 sq.ft. Albertsons supermarket, which recently purchased a 6.5
acre parcel of land at the center. An early 2001 opening is planned. Phase I of the
project, which is located at the intersection of Avenida Pico and La Pata, is anchored by Wal*Mart,
which opened during October. Other tenants include Taco Bell, Carls Jr. and El
Pollo Loco. Lowes Home Improvement and Mobil Oil are currently in
escrow and scheduled to close during the first quarter. Negotiations are ongoing with Michaels,
TJ Maxx, Big 5 Sporting Goods, Famous Footwear and Payless ShoeSource. Plaza
Pacificas trade area includes the growing communities of San Clemente, Dana Point
and San Juan Capistrano and there are four master-planned communities surrounding the
center which will bolster San Clementes population to over 60,000 upon build-out.
For more information, contact Cameron Crowner of CB
Richard Ellis at (714-939-2233).
Koll Development Co. recently commenced vertical
construction on Flatiron Marketplace in Broomfield, CO. The 70-acre project will
feature up to one million sq.ft. of retail, restaurant, hotel and office components upon
build-out. Koll purchased the vacant land parcel, located on the southeast corner of U.S.
Highway 36 and 96th Street from Midland Group for an undisclosed amount in July
1999. Kolls partner on the project is Prudential Real Estate Investors and
construction financing is being provided by Bank One. Infrastructure work on the
$110 million project has been ongoing and phase one will feature a 444,371 sq.ft.
lifestyle-oriented retail and restaurant center as well as a 240,000 sq.ft. hotel district
entitled for up to 450 rooms. Anticipated retailers at the project include Nordstrom
Rack, Linens n Things, Best Buy and The Great Indoors, along with several
other home accessories and home furnishings showrooms, apparel retailers and an office
supply store. Restaurants slated to open include Claim Jumper, Bahama Breeze,
Mimis Cafe, Buca di Beppo, Red Lobster and Wahoos Fish Tacos. The
project will serve as "the gateway" to the 950-acre Interlocken Advanced
Technological Environment business park and is located near Westcors FlatIron
Crossing Mall, which is anchored by Nordstrom, Dillards, Foleys and
Lord & Taylor. upon its completion, Flatiron Marketplace, which is expected to
open late this year, is expected to generate more than $3 million annually in city sales
tax revenue. Flatiron Marketplace reflects Kolls continuing expansion and investment
campaign in CO. In August, the company completed construction of Koll Peoria Center,
a 592,400 sq.ft. distribution facility in Denver and most recently, the company broke
ground on Koll Centennial Center, a 275,000 sq.ft. office/warehouse project in
Arapahoe County. In addition, the company teamed up with Land Securities Investors, LLC
to jointly develop the 100-acre Jefferson Corporate Center, along with a 16-acre
neighborhood retail center, in Jefferson County. Collectively, these CO-based projects
brings Kolls investment to nearly $300 million in the last two years.
For more information, contact Allen Lampert of CB
Richard Ellis, the leasing and marketing agent, at (720-528-6349).
The Festival Companies is developing Escondido
Pavilion at the intersection of I-15 and West Valley Freeway in Escondido, CA. The
300,000 sq.ft. project is located across from Escondido Promenade which is anchored
by Target, Mervyns, Toys R Us, T.J. Maxx, Staples, Pier 1 and Strouds.
Spaces are available for lease and an early 2001 opening is planned for the power center.
For more information, contact The Festival Companies
at (800-800-1816), Fax (310-264-9910), home page (www.festivalcos.com).
G.J. Grewe Inc. is developing Gravois Bluffs
Shopping Center in Fenton, MO. The 1.5 million sq.ft., $200 million project, located
at the intersection of Highway 30 and Highway 141, will be anchored by Lowes Home
Improvement, Shop N Save and Kohls in phase I. Phase II will have
office space and additional retail and phase III is expected to add a 20-screen movie
theater, restaurants and more office space. Gravois Bluffs is the most heavily subsidized
shopping center ever built in St. Louis County. Grewe received $37 million in
tax-increment financing from Fenton. The company said that it needed the special financing
because of the expense of blasting away nearby craggy bluffs and building roads. The
280-acre project is believed to be one of the largest private excavating projects in
Missouris history. Earth and rock excavation for the 90-acre first phase totals
slightly more than four million cubic yards with 3.2 million yards of that being rock. To
make way for the center, Saline Road was closed, which has upset many county residents.
Excavation is expected to be completed during May and the first tenants are expected to
open during August.
For more information, contact G.J. Grewe at
(314-962-6300).
Buyers & Sellers
N.E. Cohen and Associates has the listing to
sell a portfolio of five grocery store anchored shopping centers in the Southern region.
Assumable financing is possible.
For more information, contact Nat Cohen at
(214-373-1159), Fax (369-9046).
CB Richard Ellis has the listing to sell a pad
site at a 100% occupied Wal*Mart anchored shopping center in Yucca Valley, CA. The site
can accommodate up to a 40,000 sq.ft. building. Other tenants at the project include JC
Penney, Stater Bros., Hollywood Video, Pizza Hut and Jack in the Box. The seller will
finance, ground lease or build-to-suit.
For more information, contact Thom Gottberg at
(760-341-0918) or Maggie Montez at (760-341-2272).
H. Stephen Kirschner, Inc. has the listing to
sell a portfolio of 7-11 stores, many with gas stations, nationwide. The tenants have NNN
leases with rental increases during the option periods. The stores may be purchased
individually or in groups and financing is available. The company also has the listing to
sell a 200,000 sq.ft. shopping center in KY. The project is anchored by Wal*Mart and is
offered at a 9.5% cap rate.
For more information, contact H. Stephen Kirschner
at (516-595-9595).
Coldwell Banker Commercial Chen & Associates
has the listing to sell Randalls South Shore Harbour Center in Houston, TX. The
86,546 sq.ft. project is anchored by Randalls Food Market, GNC, Mail Boxes, Etc. and
Arbys. The asking price is $10.421 million at an 8.3% cap rate.
For more information, contact Kevin Nolan at
(281-480-5151), Fax (486-2066).
I.C.A. Realty Corp. has the listing to sell a
RoomStore in Columbia, MD. The 40,753 sq.ft. store is located at a power center anchored
by Target, Toys R Us, Staples, Jo-Ann Fabrics, Dicks Sporting Goods, Borders,
Old Navy and CompUSA. The tenant has a 20-year absolute net lease, with four options of
five years each. There are no landlord responsibilities. The asking price is $5.311
million. RoomStore is a division of Heilig-Meyers.
For details, contact James Dwoskin at
(212-889-8730), Fax (889-9007).
Palmer & Cay Properties, Inc. has the
listing to sell a 37,965 sq.ft. Linens N Things store on 4.4 acres in Jupiter, FL.
The asking price is $5.1 million. The company also has the listing to sell the 44,000
sq.ft., 100% occupied, Phenix City Marketplace in Phenix City, AL. The asking price is
$4.8 million or $109.09 psf.
For more information, contact Charles Stewart at
(912-234-8033).
Property Solutions represents a client in the
market to acquire retail centers of 25,000 sq.ft. to 300,000 sq.ft., vacant land or single
tenant properties in IL, IN, MI, OH and WI. The client prefers value added opportunities
that require lease-up, capital infusion and/or tenant improvements. Partially leased,
vacant properties or situations with sizeable lease rollover in the next 12 months will be
considered. The client is a cash purchaser.
For more information, contact Len Schlanger at
(708-380-7797), Fax (847-697-3373), e-mail (schlangen@usa.net).
Marcus & Millichap has the listing to sell a
4,620 sq.ft. Texaco gas station that also contains a convenience store that has been
co-branded with Subway, Popeyes Chicken and TCBY Yogurt in Riverside, CA. The asking price
is $3.25 million or $703 psf at an 8.49% cap rate. The company also has the listing to
sell a 6,800 sq.ft. Hollywood Video store in Upland, CA. The asking price is $1.648
million or $242 psf. The site is near Max Food, Sav-On and Edwards Cinema.
For more information, contact Donald Emas or Kevin
Boeve at (909-605-1800).
Diversified Holdings Ltd. is in the market to
acquire retail properties in OH and neighboring states with a secondary focus of
properties in FL. Preferred properties should be priced in the $2 million range with cap
rates of 10%, depending on upside potential.
For more information, contact David Bromley at
(330-873-1332), Fax (873-1348), e-mail (wbrewbre@aol.com).
McLane Investment Co. has the listing to sell
5.23 acres of land at the intersection of US Highway 67 and US Highway PP in Poplar Bluff,
MO. The land sits at the south end of a 183,000 sq.ft. shopping center and is bordered by
Burger King and KFC.
For more information, contact David Donley at
(573-339-0488), e-mail (djdonley@commercialspecialist.com).
Meredith Suites Management has the listing to
sell a 64,700 sq.ft. anchor building on 6.3 acres at Southtown Mall in Fort Wayne, IN. The
site was formerly occupied by Kohls who is on the lease until January 31, 2001. The
base rent is $236,450 and the NOI is $226,450. The asking price is $750,000.
For more information, contact Bakul Modi at
(919-460-8504), Fax (481-4191), e-mail (bakulmm@yahoo.com).
Air-Land Survey, Inc. has the listing to sell
1.73 acres of land in Clarkston, MI. The site fronts I-75 and is located 1000 feet north
of a proposed Holiday Inn adjacent to Bill Knapps. Clarkston is located in the second
richest per capita county in the country. The asking price is $550,000.
For more information, contact Kelly Stonerock at
(810-636-3240), Fax (762-6801), e-mail (kellystonerock@aol.com).
Heatley Capital Corporation has the listing to
sell 5.45 acres of land in Dallas, TX. The site is located three blocks from the
intersection of Loop 12 and Spur 408 and across from Mountain View College. All utilities
are available.
For more information, contact Mike Heatley at
(214-220-9617), Fax (972-402-8385).
John D. Miller Real Estate has the listing to
sell a 6,499 sq.ft. Hideway Restaurant at Country Square Shopping Center in Sedona, AZ.
The asking price is $1.225 million at a 9.26% cap rate.
For details, contact Scott Anderson at
(520-282-5527).
Wood Properties has the listing to sell a 10.4
acre development site in Port St. Lucie, FL. The land has 489 feet of frontage on U.S.
Highway 1 at a signalized corner intersection with median turn lanes. The site is ideal
for retail, restaurant or other commercial uses. All utilities are on site and the land is
divisible.
For more information, contact Robert Wood at
(561-659-6996), Fax (659-0256), e-mail (rwood116@aol.com).
Magnum Realty, Inc. has the listing to sell a
Dillons Grocery Store on 4.6 acres in Winfield, KS. The asking price is $2.325
million and financing is available. Kroger company is the lease guarantor
For more information, contact Joseph Kutilek at
(402-558-2200), Fax (558-1998), e-mail (magnumre@aol.com).
Whos Opening & Where
Fred Meyer, Inc. (503-797-3450) submitted plans
to the city of Gig Harbor, WA for a 140,000 sq.ft. store on 26 acres. The plan received a
cool reception by officials who feel that the store is too big for the area and the zoning
for the site allows for a maximum of 35,000 sq.ft. to be built. If built, the store would
be the largest retail outlet in Gig Harbor. The plans for the store have been scaled down
from 163,000 sq.ft. The site is the same location on which Wal*Mart had proposed to
build a 133,000 sq.ft. store, but later abandoned after meeting heavy opposition from
nearby residents.
Famous Daves of America, Inc. (612-557-5798)
recently acquired four Red River Barbeque & Grille restaurants in Annapolis,
Columbia and Fredrick, MD and in Woodbridge, VA. Famous Daves plans to convert the
restaurants to its name and concept and believes it can develop as many as ten additional
restaurants in the market. The company operates 28 full service and counter style
restaurants and blues clubs in MN, WI, IA, IL, NE, MD and VA. The company plans to open
six restaurants this year. www.famousdaves.com
Pizza Inn, Inc. (972-701-9955) and the Pojoaque
Pueblo Enterprise Corporation recently commenced construction of the first Pizza
Inn restaurant located in the Pojoaque Pueblo community, 15 miles west of Santa Fe,
NM. The corporation currently owns and operates a casino, hotel and an entertainment and
retail shopping center. Pizza Inn will be the first foodservice franchise operated by the
Pojoaque Pueblo Enterprise Corporation. Pizza Inn is the franchisor and food distributor
for 499 Pizza Inn locations nationwide and in 14 foreign countries. www.pizzainn.com
Shoe Carnival, Inc. (812-867-6471), which
exceeded its store opening goal for 1999 by opening 29 stores, plans to open as many as 35
stores this year. Currently, the company operates 139 shoe stores in the Midwestern and
mid-Southern regions. www.shoecarnival.com
Montana Mills Bread Co. (716-248-2280) plans to
open a store on Main Street in East Aurora, NY. The companys interest in East Aurora
follows its recent openings late last year of a store in Clarence and the opening last
June of a store in Hamburg. The East Aurora store, when opened, will give the company 11
stores in the Buffalo and Rochester regions. The company is also on a push to open stores
outside of the western NY area and recently opened its first store in Syracuse. A second
store in Syracuse is planned and a store in Albany is planned to open late this year.
H-E-B (713-329-3004) plans to open a Central
Market store in Houston, TX during 2001. It will be the
companys fourth Central Market concept store. The first unit opened in Austin six
years ago and is a radical departure from a traditional supermarket. The store, which is
more like a farmers market, offers fresh-from-the-farm produce, 450 varieties of
cheese, 50 types of fresh baked bread a 75 foot long fresh fish counter. Name brand items
cannot be found and nonfood items are not carried. The store will be built on an 8.3 acre
tract of land formerly used for the TV studios of Channel 26 and the Kips Big Boy
restaurant. The store is expected to occupy between 65,000 sq.ft. and 70,000 sq.ft., which
is much larger than a traditional H-E-B Pantry Foods store of 25,000 sq.ft.
Trend-Lines, Inc. (617-853-0900) recently opened
two Golf Day stores and one Woodworkers Warehouse store, and closed one wood
working store. Trend-Lines is a specialty retailers of woodworking tools and accessories
sold through its nationally distributed Trend-Lines mail order catalog and through 120
Woodworkers Warehouse retail stores in New England, NY, NJ, DE and PA, as well as 28 Post
Tool stores located in CA and NV. The company is also a specialty retailer of golf
equipment and supplies sold through its nationally distributed Golf Day mail order catalog
and through 80 Golf Day retail stores in New England, NY, NJ, DE, PA and CA.
CVS (401-765-1500) is looking to develop a
freestanding drugstore in Charles Village, MD, but is running into heavy opposition from
residents trying to prevent the demolition of six century-old rowhouses that will have to
be razed to make way for the store. Four buildings have already been demolished for the
stores parking lot. CVS has the right to demolish the buildings, but the residents
opposed to the demolition plan to file a lawsuit anyway. The residents group
maintains that Charles Village has been designated a parking-lot district, which means
buildings cannot be razed and parking lots constructed without an ordinance signed by the
mayor and council.
Home Depot (770-433-8211) plans to open a
111,000 sq.ft. store at a former Builders Square store in Niagara Falls and a
108,000 sq.ft. store at a former Builders Square location in Hamburg, NY during Summer.
The company is reportedly looking to add a third store in the market and is said to be
focusing on a site in Cheektowaga. In other news, the company is planning to open a store
at a shopping center in Overland Park, KS during Fall. The store will co-anchor the center
with Sams Club.
Gander Mountain (612-830-8700) plans to open a
30,750 sq.ft. store, between an OfficeMax store and a Best Buy store, near
an REI store, in Madison, WI. The store requires approval by Richard E. Jacobs
Group, owner of the West Towne Mall and surrounding property. No zoning change
is required.
Target (612-304-6099) plans to open a 155,360
sq.ft. store at a former Fedco site near Los Cerritos Center in Cerritos,
CA. It will be the companys second store in Cerritos.
Kohls Corp. (414-703-7000) plans to open
38 stores during the first quarter of 2000, including 33 stores previously operated by Caldor
in CT, MD, NJ and NY. Overall, the company is looking to open as many as 60 stores this
year; four additional stores in the Dallas/Fort Worth, TX market and a store in Rochester,
MN as well as fill in sites throughout the Midwestern and Mid-Atlantic markets.
A 160,680 sq.ft. Menards (715-874-5911) and a
121,165 sq.ft. Home Depot store are expected to open in Germantown, WI this year.
The Home Depot store will be located just up the road from the Menomonee Falls border,
which rejected a Home Depot store.
Walgreens (847-940-2500) plans to open a drug
store in Germantown, WI. The store has been designed with a clock tower and a stone
archway above the entrance to fit in with the areas architecture. The company also
plans to develop a freestanding store with a drive thru on a former Mark C. Bloome
tire shop in La Habra, CA. Plans for La Habra include a drive thru and a pylon sign up to
25 feet tall.
To The Editor
Just wanted you to know how much I have always
empathized with your "My Ways" and the January 7 issue just kind of touched me
with the last sentence of how those of us that have been around a while are not as
exciting as we once were, but now we know what were doing.
You and I first met back in the early 70s
where I was hawking a location for United Skates of America in New Rochelle or Mamaroneck
or some such place. Every now and then we bump into each other at a convention but aside
from sharing some stories and finding out whos still kicking, we unfortunately
havent had much time to work together.
Anyhow, Im one of the "old timers"
that still believe, as you do, in courteously returning every phone call and foot
canvassing for the best local tenants. Technological advances in leasing are great time
savers, but the basics still transcend effective deal making.
So I was just waxing nostalgic for the moment and
decided to enjoy a catharsis by emailing you. Hope you have a great New Year and Im
sure we both have many more fruitful and profitable years left in us.
Doug Rice, Leasing Rep.
Edens & Avant
PO Box 528
Columbia, SC 29202
803-779-4420
dougr@edensandadvant.com
Convenience Stores Expanding Nationwide
Midjit Market Inc. trades as Green Valley
Grocery at 21 locations in NV. The convenience stores, which also sell Shell
gasoline, occupy spaces of 3,000 sq.ft. in freestanding facilities on a land area of
50,000 sq.ft. Preferred co-tenants include fast food restaurants. Plans call for five
openings in the coming 18 months. Expansion will take place in southern NV. Leases running
at least 10 years are typical and the company cites Arco and 7-11 as
competition. The company is the Shell jobber for southern NV.
For more information, contact Richard Crawford,
Midjit Market Inc., 8915 West Twain Avenue, Las Vegas, NV 89103; 702-367-0056, Fax
367-9838.
Wooten Oil Company trades as Kwik Mart at
three locations in NC. The convenience stores, which also sell gasoline, occupy spaces of
800 sq.ft. to 3,500 sq.ft. in freestanding facilities. Growth opportunities are sought in
the existing market. Preferred demographics include a population of 5,000 within three
miles earning $20,000 as the average income. Leases running 30 years are typical. At one
time, the company operated 24 stores and later sold a number of units to Pantry.
For more information, contact S. Dillon Wooten,
Wooten Oil Company, PO Box 858, Goldsboro, NC 27533-9858; 919-734-1357, Fax 735-4677.
West Oil, Inc. does business as The Markette
and Bullets at 19 locations in NC and SC. The convenience stores occupy spaces of
2,000 sq.ft. to 3,000 sq.ft. in freestanding facilities. Plans call for two openings in
the coming 18 months. Expansion will take place in the existing markets.
For more information, contact A.C. West, Jr., West
Oil, Inc., PO Box 729, Hartsville, SC 29551; 843-332-2201, Fax 383-0190.
Stewarts Ice Cream Co., Inc. trades as Stewarts
Shops at 296 locations in NY and VT. The convenience stores, which also sell gasoline,
occupy spaces of 2,400 sq.ft. in freestanding facilities. Plans call for as many as 15
openings in the coming 18 months. Expansion will take place in the existing markets.
For more information, contact Jennifer Howard or Tom
Lewis, Stewarts Ice Cream Co., Inc., PO Box 435, Saratoga Springs, NY 12866;
518-581-1200, Fax 581-1209.
Uncle Neals Country Convenience Stores
operates six locations in NE. The convenience stores occupy spaces of 900 sq.ft. to 3,000
sq.ft. in freestanding facilities. Plans call for three openings in the coming 18 months.
Expansion will take place in the existing market. Preferred demographics include a
population of 2,000 within one mile earning $27,000 as the average income. The company
prefers to own its locations but does sign leases running three to five years, with
options. The company also trades as Smokin Discount Outlet, which only sells
cigarettes. Plans call for one opening of this concept.
For more information, contact Neal Hoff, Uncle
Neals Country Convenience Stores, 305 North Hastings #201, Hastings, NE 68901-5147;
402-462-2700, Fax 462-2963.
Conoco Inc. trades as Conoco at 50
locations in IA, KS, MN, MO, NE, ND, OK and SD. The convenience stores, which also sell
gasoline, occupy spaces of 3,500 sq.ft. in freestanding facilities. Growth opportunities
are sought in KS, MO, NE and OK.
For more information, contact Mahmoud Alissa, Conoco
Inc., (mid-continent region), 10540 Marty, Suite 170, Overland Park, KS 66212;
913-385-2210, Fax 385-2246.
Par Mar Oil Company, Inc. trades as Par Mar
Stores at 16 locations in OH and WV. The convenience stores, which also sell gasoline,
occupy spaces of 2,200 sq.ft. to 4,000 sq.ft. in freestanding facilities. Growth
opportunities are sought in southeastern OH and WV. Leases running 10 to 15 years are
typical and the company prefers a vanilla shell and turnkey deals.
For more information, contact William Hollister, Par
Mar Oil Company, Inc., 105 Alta Street, Marietta, OH 45750; 740-373-7406, Fax 373-6854.
Kocolene Marketing Corp. trades as Fast Max
at 71 locations in KY, IN and OH. The convenience stores, which also sell gasoline, occupy
spaces of 2,000 sq.ft. to 2,500 sq.ft. in freestanding facilities in a land area of 200 x
200. Plans call for the opening of four units in the coming 18 months. Expansion will take
place in the existing markets.
For more information, contact Robert Myers, Kocolene
Marketing Corp., 725 East Tipton Street, Seymour, IN 47274-3561; 812-522-2224, Fax
522-6264, e-mail rmyers@kocolene.com.
Real Estate Professionals Making News
Goldman Retail Associates (310-235-0444)
announces that Kim Sims has been promoted to vice president of leasing. In her new
position, Sims will remain responsible for all leasing activities, including exclusive
representation of Rite Aids surplus properties as well as Panda
Express and Clothestimes expansion throughout the Los Angeles, CA
market.
Brandywine Realty Trust (610-325-5600) announces
the appointment of Jeffrey Weinstein as vice president of construction. In his new
position, Weinstein will be responsible for direction of construction operations of the
company including tenant fit-up and new building construction. Prior to joining
Brandywine, Weinstein was with Matrix Development Group, Inc. where he most
recently served as vice president, commercial construction.
Food Tenants Hungry for Sites Nationwide
The Melting Pot Restaurants Inc. trades as Melting
Pot Restaurant at 45 locations in AZ, CO, DE, FL, GA, IL, IN, MD, NC, OH, PA, SC, TN,
TX, VA and WA. The full-service restaurants, offering a fondue based menu, occupy spaces
of 5,000 sq.ft. in freestanding facilities and specialty centers. Preferred co-tenants
include upscale retailers. Growth opportunities are sought in metropolitan markets
throughout MN, MO, NV, NJ, PA, TX, UT, VA, WA, WV, WI and Washington, D.C.
For more information, contact Mark Johnston, The
Melting Pot Restaurants Inc., 8406-G Benjamin Road, Tampa, FL 33634-1206; 813-881-0055,
Fax 889-9361.
United States Beef Corp. does business as Arbys
at 190 locations in AR, KS, MO and OK. The fast food restaurants, specializing in roast
beef sandwiches, occupy spaces of 800 sq.ft. to 3,500 sq.ft. in freestanding facilities,
regional malls and strip centers. Growth opportunities are sought in the existing markets.
Leases running 20 years are typical.
For more information, contact John Davis, United
States Beef Corp., 4923 East 49th, Tulsa, OK 74137; 918-665-0740, Fax 664-2108.
Restaurant Systems International operates
several concepts, one of which trades as Bananas at 76 locations nationwide. The
concept, offering specialty juice drinks, occupies spaces of 300 sq.ft. to 400 sq.ft. in
regional malls, outlet and power centers. Plans call for the opening of four units in the
coming 18 months. Expansion will take place nationwide. Leases running 10 years are
typical and the company is franchising.
South Philly Steak & Fries operates 14
locations along the East Coast. The restaurants, serving cheesesteaks and French fries,
occupy spaces of 750 sq.ft. in downtown store fronts, regional malls, outlet and power
centers. Plans call for six openings in the coming 18 months. Expansion will take place
nationwide. Leases running 10 years are typical and the company is franchising.
Treat Street is comprised of 17 locations
nationwide and internationally. The concept, offering yogurt, ice cream, frosties and
smoothies, occupy spaces of 300 sq.ft. to 400 sq.ft. in downtown store fronts, regional
malls, outlet and power centers. Plans call for 10 openings in the coming 18 months.
Expansion will take place both domestically and internationally. Leases running 10 years
are typical and the company is franchising.
The company also trades as Greenleafs
Grille at six locations in MO, NJ, NY and Washington, D.C. The restaurants, serving
salads, grilled chicken wraps and yogurt, occupy spaces of 600 sq.ft. to 1,200 sq.ft. in
downtown store fronts, freestanding facilities, regional malls, power, specialty and strip
centers. Plans call for eight openings in the coming 18 months. Expansion will take place
nationwide. Leases running eight to ten years are typical and the company is franchising.
For more information on the above four concepts,
contact Steve Beagleman, Restaurant Systems International, 1000 South Avenue, Staten
Island, NY 10314; 718-494-8888, Fax 494-8776.
Treats Canada Corporation trades as Treats
International at 150 locations in DE, FL, IL, Washington, D.C. and Canada. The
cafes, serving baked goods and gourmet coffee, occupy spaces of 200 sq.ft. to 1,200 sq.ft.
in downtown store fronts, freestanding facilities and regional malls. Preferred anchors
include Kmart, Lord & Taylor, T.J. Maxx and Wal*Mart. Plans call for 20
openings in the coming 18 months. Expansion will take place nationwide. Leases running 10
years are typical and the company is franchising.
For more information, contact John Deknatel, Treats
Canada Corporation, 418 Preston Street, Ottawa, ON K1S 4N2; 613-563-4073, Fax 563-1982,
e-mail deknatel@treats.com, home page www.treats.com.
Asian Concepts Inc. trades as Mark Pis
Chinese Restaurant at 42 locations in KY, IN, MI, MO, MT and OH. The restaurants,
serving Asian cuisine, occupy spaces of 400 sq.ft. to 7,000 sq.ft. in freestanding
facilities, regional malls and strip centers. Plans call for as many as nine openings in
the coming 18 months. Expansion will take place in the existing markets. 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 Mark Pi Jr., Asian
Concepts Inc., 3960-G Brown Park Drive, Hilliard, OH 43026; 614-771-5120, Fax 771-5134.
Taco Johns International Inc. trades as Taco
Johns at 468 locations in AR, CO, FL, ID, IL, IN, IA, KS, KY, MN, MS, MO, MT,
NE, NV, ND, OH, SD, TN, TX, UT, WA, WI and WY. The Mexican fast food restaurants occupy
spaces of 1,600 sq.ft. in freestanding facilities. Plans call for 48 openings in the
coming 18 months. Expansion will take place in the Midwestern and Western regions.
Preferred demographics include a population of 20,000 within one mile earning $40,000 as
the average income. Leases running 20 years, with three options of 10 years each, are
typical and the company is franchising.
For more information, contact Keith Emerson, Taco
Johns International Inc., 808 West 20th Street, Cheyenne, WY 82001; 307-635-0101,
Fax 772-0369, e-mail info@tacojohns.com, home page www.tacojohns.com.
Davco Restaurants Inc. does business as Wendys
at 152 locations in MD, VA and Washington, D.C. The fast food restaurants occupy spaces of
2,600 sq.ft. in freestanding facilities and power centers. The company also trades as Friendlys
at 78 locations in MD, VA and Washington, D.C. The family restaurants occupy spaces of
4,160 sq.ft. in freestanding facilities and power centers. Combined plans call for as many
as 15 openings in the coming 18 months. Expansion will take place in DE, MD, northern VA
and Washington, D.C. Preferred demographics include a population of 30,000 within three
miles earning $30,000 as the average income. Leases running 20 years, with two options of
five years each, are typical.
For more information, contact Harvey Rothstein,
Davco Restaurants Inc., 1657 Crofton Boulevard, Crofton, MD 21114-1323; 410-793-3905, Fax
791-8283.
MFP Franchise Systems Inc. trades as My
Friends Place at 13 locations in GA. The restaurants, offering health foods,
occupy spaces of 1,400 sq.ft. in strip centers. Preferred anchors include non-food
retailers. Growth opportunities are sought in the Southeastern region. Preferred
demographics include a population of 10,000 within two miles earning $40,000 as the
average income. Leases running five years are typical and the company is franchising.
For more information, contact David Katz, MFP
Franchise Systems Inc., 106 Hammond Drive, Atlanta, GA 30326-4806; 404-843-2803, Fax
843-0371.
Lease Signings
Mid-America Real Estate Corp. (630-954-7300)
leased 6,000 sq.ft. to Famous Footwear at Oakland Shopping Center in DeKalb,
IL and the store is slated to open this Spring. Mid-America Real Estate exclusively
represents Famous Footwear in the Midwest.
The Cafaro Company (330-747-2661) leased 12,757
sq.ft. to The Gap at Eastwood Mall in Niles, OH and 13,900 sq.ft. to The
Gap at Ohio Valley Mall in St. Clairsville, OH.
Levin Management Corporation (908-755-2401)
leased 2,750 sq.ft. to Popeyes Restaurant at Dayton Shopping Center in
Rockaway Beach, NY.
Colliers L&A (215-925-4600) leased 6,000
sq.ft. to Fashion Bug at the Acme and Rite Aid anchored F&N
Shopping Village in Brandywine County, DE and 6,500 sq.ft. to Kinkos at Wynnewood
Square Shopping Center in Wynnewood, PA which is anchored by SuperFresh, Eckerd
and Zany Brainy.
Michael Salove Company (610-664-8100) leased
77,000 sq.ft. to Ames Department Store in a portion of a former Caldor store
at Hunting Park Plaza in Philadelphia, PA. Ames is scheduled to open this Spring.
Divaris Real Estate, Inc. (757-497-2113) leased
3,600 sq.ft. to Music Central at Turnberry Crossing in Newport News, VA.
Robert K. Futterman & Associates, LLC
(212-599-3700) leased 90,000 sq.ft. on three levels to Bed Bath & Beyond at Bridge
Tower Place, 401 East 60th Street on First Avenue in New York City, NY. Bed Bath &
Beyond is expected to open late 2000.
Breslin Realty Development Corp. (516-741-7400)
leased 116,000 sq.ft. to Home Depot and 25,000 sq.ft. to Borders Books at Airport
Plaza Shopping Center in Farmingdale, NY.
CableCo, Inc. (305-892-9900) leased space to SuperCuts,
Subway and Hop Bo Chinese Restaurant at Viera Village Shopping Center,
which is anchored by the new prototype for Kash N Karry Grocery, in Viera, FL.
Financial News
Christmas sales across the board showed stellar
performances. Crescent Jewelers, a west-coast affiliate of Friedmans, Inc., set the
record in this sampling with a 16.6% increase in comp store sales for its first quarter.
Deb Shops also saw a substantial increase with comp store sales up by 10.9% for the month
of December. Consumer electronics chains experienced a good year. For example Rex
Stores comp store sales increased 8% for an eleven month period, yet for the period
of November through December sales only rose by one percent. However, Circuit Citys
electronics chain saw steep increases of 12% for the month of December, yet for the year
showed a 6% increase in total sales. Most discounters saw sales rise, evidenced by Value
City reporting a 7.5% increase for the month and Target bumped sales by 5.5% in December.
Syms encountered turbulence with sales for the quarter down by 5.4 percent, while rumors
are floating regarding a possible sale or chapter 11 filing. The following is a small
sampling of how various retailers around the country faired during the 1999 holiday
shopping season.
Elder-Beerman Stores Corp. (937-296-2700)
reported that its December same store sales increased 0.6% compared to December 1998. For
the holiday season, encompassing November and December, same store sales rose 2.6% over
last year.
Rex Stores Corp. (937-276-3931) reported that
total merchandise sales for November and December increased six percent to $113.6 million
from $107 million during the same period last year with comparable store sales up one
percent. For the first 11 months of the companys fiscal year, total merchandise
sales increased 12% to $411.6 million from $368.9 million last year with comparable store
sales up eight percent. The company currently operates 239 consumer electronics stores in
35 states.
Haverty Furniture Companies, Inc. (404-881-1911)
reported that its 1999 net sales increased 14.5% to $618.8 million from $540.3 million
during 1998. Comparable store sales increased 12.1% for the year. The company is a
full-service home furnishings retailer with 103 stores in 14 Southern and Central states.
www.havertys.com
Delhaize America, Inc. (704-633-8250) reported
that its total sales for fiscal 1999 increased 6.5% to $10.88 billion from $10.22 billion
last year. Comparable store sales increased 1.8% for the year. During the year, the
company opened 100 new stores, including 94 Food Lion stores and six Kash n
Karry units. The company relocated 21 stores and closed 10. Currently, the company
operates 1,136 Food Lion stores and 140 Kash n Karry and Save n Pack stores.
www.delhaizeamerica.com
Strouds, Inc. (626-912-2866) reported that its
third quarter net earnings fell to $248,000 from $506,000 during its third quarter last
year. Net sales for the quarter were down to $57.2 million from $59.2 million and
comparable store sales fell 3.5%. Strouds, Inc., the Linen Experts, is a specialty
retailer of bed, bath, tabletop and other home textile products operating 63 stores in
four states. www.linenexperts.com and www.strouds.com
Lechters, Inc. (973-481-1100) reported that its
December sales fell 2.3% to $86.8 million from $88.8 million during December 1998. Sales
for the specialty housewares segment comprised of Lechters Housewares and Lechters
Kitchen Place decreased 4% to $71.3 million and sales for the off-price home business
segment comprised of Famous Brands Housewares Outlet and Cost Less Home Store
increased 6% to $15.5 million. Total chain comparable store sales increased 3.2%. By
segment, comparable store sales for specialty housewares increased 3.1%, while the
off-price home business increased 3.4%. The company currently operates 523 stores
(comprised of 401 specialty housewares stores and 122 off-price home business stores) in
41 states.
Heilig-Meyers Company (804-784-7300) reported
that its December sales increased 4.6% to $169.3 million from $161.9 million last year.
Comparable store sales for the month increased 2.3%. The company currently operates 906
stores, 815 as Heilig-Meyers, 55 as The RoomStore, three as Homemakers
and 33 in Puerto Rico as Berrios. www.heiligmeyers.com, www.roomstore.com,
www.hmyco.com
Stein Mart Inc. (904-346-1500) reported that its
December sales increased 8.6% to $350 million and that its sales for 1999 increased 15.2%
to $1.035 billion. However, comparable store sales fell 1.3% during the fourth quarter.
ShopKo Stores, Inc. (920-497-2211) reported that
its December sales increased 37.5% to $523 million from $380.4 million last year. Included
in current year results are $25.7 million in sales from 13 new stores, which opened this
year, and $101.1 million in sales from the 159 Pamida stores acquired this year.
ShopKo retail comparable store sales generated a 4.3% increase over a 4.6% increase for
the same period last year. The company currently operates 319 stores in 22 states.
www.shopko.com
S&K Famous Brands, Inc. (804-346-2500)
reported that its December sales increased six percent to $24.6 million from $23.2 million
last year. Comparable store sales were even with December 1998. The company currently
operates 241 value-priced menswear stores in 27 states reaching from the Eastern U.S. to
TX and from ME to FL. www.skmenswear.com
Wal*Mart Stores, Inc. (501-273-4000) reported
that its December net sales increased 26.2% to $24.127 billion from $19.112 billion during
December 1998. Sams Club sales for the December increased 15.8% to $3.313
billion from $2.861 billion. The company currently operates 1,803 Wal*Mart stores,
682 Supercenters and 457 Sams Clubs in the U.S. Internationally, the
company operates 13 stores in Argentina, 14 in Brazil, 166 in Canada, 6 in China, 95 in
Germany, 5 in Korea, 461 in Mexico, 15 in Puerto Rico and 232 in the United Kingdom.
Circuit City Stores, Inc. (804-804-527-4000)
reported that total sales for December increased 14% to $1.78 billion from $1.57 billion
last year. Total sales for the Circuit City Group were $1.63 billion, which
represents a 12% increase from December 1998. Comparable store sales increased six
percent. Total sales for the CarMax Group increased 38% to $152.1 million from
$110.5 million with comparable store sales up nine percent. The company operates 570 Circuit
City Superstores, 45 mall-based Circuit City Express stores and 38 CarMax
stores. www.circuitcity.com, www.carmax.com
Friedmans Inc. (912-231-6608) reported
that sales for its first fiscal quarter increased 20.7% to $148 million from $123 million
during its first fiscal quarter last year. Comparable store sales increased 6.2% for the
quarter. Crescent Jewelers, a west-coast affiliate, reported that its net sales for
the first quarter increased 15.8% to $51.5 million from $44.5 million last year with
comparable store sales up 16.6%. Friedmans operates 564 jewelry stores in 21 states
of which 351 are located in power strip centers and 213 are in malls. Crescent operates
149 stores in seven states, 95 of which are located in malls and 54 in power strip
centers.
Kmart Corp. (248-643-1000) reported that its
December sales increased seven percent to $5.88 billion from $5.493 billion during
December 1998. Comparable store sales increased 5.5% for the month. The company operates
2,177 stores.
Value City Department Stores, Inc.
(614-471-4722) reported that its December total sales increased 18.8% to $252.4 million
from $212.4 million last year. Comparable store sales increased 7.5% for the month. The
company operates 105 full-line off-price department stores throughout the Midwestern,
Eastern and Southern regions, as well as 57 DSW Shoe Warehouse stores.
Dayton Hudson Corporation (612-370-6948)
reported that its net retail sales for December increased 9.4% to $5.743 billion from
$5.249 billion last year. Comparable store sales increased 3.6% for the month. By
division, Targets sales increased 5.6% for the month; Mervyns
was down 4.4% and the department stores division was down 0.4%. The company currently
operates 1,245 stores in 44 states, including 914 Target stores, 267 Mervyns stores
and 64 department stores. www.dhc.com
Toys R Us, Inc. (201-262-7800) reported
that sales for the 1999 holiday season, comprised of nine weeks, were $4.4 billion, which
was even with 1998's holiday sales results. Total sales for the 48 weeks ended January 1,
increased six percent to $11.3 billion from $10.6 billion last year. Year-to-date
comparable store sales increased three percent. The company currently operates 1,544
stores: 710 toy stores in the US; 454 international toy stores; 205 Kids R Us
stores; 130 Babies R Us stores and 45 Imaginarium stores.
www.toysrus.com, www.imaginarium.com
Syms Corp. (201-902-9600) reported that its
third quarter net income fell to $2.8 million from $6.3 million during the third quarter
last year. Sales for the quarter rose slightly to $95.6 million from $95.5 million, but
comparable store sales fell 5.4% for the quarter.
Closings
CVS Pharmacy (401-765-1500) recently closed its
drug store at the Bi-Lo Shopping Center in York, SC. The company had tried to build
a freestanding store in the city, but could not find the right site. The company plans to
open a freestanding store late this year in Rock Hill.
Supervalu Inc. (612-828-8910) recently closed
its Cub grocery store in Hutchinson, MN. The store, which was operated by Coburns
Inc., opened in November, but was closed because customers wanted a larger store with
a different format. No cost estimates for the closing were announced, but both
Coburns and Supervalu will bear the costs. The franchisee plans to reopen its Hutchinson
Cash Wise grocery store, which it had closed in favor of the new Cub. The store was
only 57,000 sq.ft., smaller than a typical Cub, which occupies 75,000 sq.ft., and used the
"mapping store" format, which places stock-up items on one side, dairy products
in the middle and perishables on the other side. The design is used so customers who need
only a loaf of bread and a carton of milk can get in and out faster. The Cash Wise it
replaced was 73,000 sq.ft. and customers were accustomed to the larger store and voiced
their opinion about the format. Their displeasure showed up at the register, so
Coburns decided to close the Cub and move back into its vacated Cash Wise space,
which reopened under the Cash Wise banner. The decision to the close the store was
probably also influenced by the pending arrival of more competition in the 14,000 person
town. Wal*Mart, already at 90,000 sq.ft., intends to double its size this year,
expanding to a Supercenter that includes a full grocery store. The Cub store is
located in the County Fair Market Place, a development built by Ryan Companies
that also includes a Target store. The store originally was planned as a
corporately owned Cub and not a franchise. However, Coburns acquired the franchise
rights and closed its Cash Wise store in favor of the new Cub. Coburns, which
operates 26 grocery stores, for years had been served by wholesaler Fairway Foods.
But when Fairway closed distribution centers last year, Coburns lined up Supervalu
as its distributor. Besides the franchise for the Hutchinson Cub, Coburns bought
three Randall Food Stores from Supervalu and said it eventually would convert its
existing Cash Wise stores in Owatonna, MN and Mason City, IA to Cub Food operations.
Supervalu has no future plans for opening a Cub store in Hutchinson, however, the company
remains the official tenant at the shopping center and continues to pay rent. They plan on
working with the owner to find another tenant.
Lead Sheet
Hanacek & Company
dba Big Dogs, Big Dog Sportswear
Tom Hanacek
5440 SW Westgate Drive Suite 340
Portland, OR 97222
503-292-8191, Fax 292-8132
home page: www.bigdogs.com
Apparel
The 180+-unit chain operates locations nationwide,
exclusive of AR, ND and SD. The stores, selling family apparel and accessories with
the Big Dog theme and logo, occupy spaces of 1,500 sq.ft. to 3,000 sq.ft. in
downtown store fronts, freestanding facilities, regional malls, entertainment, outlet and
strip centers. Growth opportunities are sought nationwide. Preferred demographics
include a population of 50,000 within five miles earning $50,000 as the average income.
Lots To Love, Inc.
dba Lots To Love
J.T. Harris
PO Box 1628
McCook, NE 69001
308-345-5055, Fax 345-7381
Apparel
The 31-unit chain operates locations nationwide,
exclusive of the Northeastern region. The stores, selling large size ladies apparel at
discount price-points, occupy spaces of 1,600 sq.ft. to 2,500 sq.ft. in outlet and
power centers. The company prefers second generation space formerly occupied by a clothing
store. Plans call for three openings in the coming 18 months. Expansion will take place
nationwide, exclusive of AL, FL, GA and the Northeastern region. The company cites Dress
Barn, Catherines and Fashion Bug as competition.
United Fashions of Texas
dba Melrose
Reuben Bar-Yadin
4629 Macro Drive
San Antonio, TX 78218
210-662-7140, Fax 666-3211
Apparel
The 48-unit chain operates locations in AZ, CA,
NM and TX. The womens apparel stores occupy spaces of 5,000 sq.ft. to 10,000
sq.ft. in power and strip centers. Plans call for as many as 10 openings in the coming
18 months. Expansion will take place in TX. Preferred demographics include a
population of 50,000 within three miles earning $35,000 as the average income. Leases
running three to five years, with options, are typical and the stores average $150 psf in
sales.
Jack Furriers Western Tire Centers
dba Jack Furriers Western Tire Centers,
Desert Rat Off Road, Ultraperformance
John Furrier
3545 South Richey Boulevard
Tucson, AZ 85713-5432
520-748-1700, Fax 790-1136
Automotive
The 20-unit chain operates locations in AZ and
NM. The stores, offering tires and performance parts, occupy spaces of 10,000
sq.ft. in freestanding facilities. Plans call for two openings in the coming 18
months. Expansion will take place in NV.
Hastings Entertainment Inc.
dba Hastings Entertainment
Brant Reid
3601 Plains Boulevard
Amarillo, TX 79102
806-351-2300, Fax 351-2545
Books
The 149-unit chain operates locations states west
of the Mississippi River as well as in IL, IN, KY, NC and TN. The stores, selling
books, music, videos and computer software, occupy spaces of 18,000 sq.ft. to 30,000
sq.ft. in freestanding facilities and strip centers. Growth opportunities are sought
in the existing markets. Leases running 10 years are typical.
Imperial Stores
dba The Learning Center
Jack Mendelson
1049 Main Street
Wheeling, WV 26003
304-233-0711, Fax 233-9424
Educational
The two-unit chain operates locations in PA and
WV. The stores, selling educational materials for parents and teachers, occupy spaces
of 3,500 sq.ft. to 4,000 sq.ft. in strip centers. Preferred anchors include T.J.
Maxx and Target. Plans call for as many as two openings in the coming 18
months. Expansion will take place in AZ and FL. Preferred demographics include a
population of 100,000 within 20 miles earning $32,000 as the average income. Leases
running three years and a vanilla shell is the typical deal.
J.R. Holcomb & Co.
dba Holcombs Educational Material
Deb OShanshnessy
c/o Trammell Crow
3205 Harvard Avenue
Cleveland, OH 44101
216-341-3000, Fax 341-5151
Educational
The 23-unit chain operates locations in OH and
PA. The stores, selling educational and teachers supplies, occupy spaces of 4,000
sq.ft. to 4,500 sq.ft. in strip centers. Preferred co-tenants include grocery stores.
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 200,000
within 15 miles earning $50,000 as the average income. Leases running 10 years are
typical.
Papa Jons
John Quinn
5000 East 2nd Street
Long Beach, CA 90803
562-439-3444, Fax 439-3554
Health
The company operates one location in CA. The
full service health food store occupies a 6,000 sq.ft. freestanding facility. Plans
call for one opening in the coming 18 months. Expansion will take place in Los Angeles
County, CA. The company will consider freestanding and power center sites. Preferred
demographics include a population of 100,000 within five miles earning $50,000 as the
average income. Leases running five years are typical.
3 Day Blinds Inc.
dba 3 Day Blinds
Brent Ryhlick
2220 East Cerritos Avenue
Anaheim, CA 92806
714-634-4600, Fax 634-1041
Home Furnishings
The 174-unit chain operates locations in AZ, CA,
CO, ID, IL, KS, MO, NE, NM, OH, OR, TX, UT and WA. The stores, selling blinds and
related items, occupy spaces of 1,500 sq.ft. to 5,000 sq.ft. in power and strip
centers. Plans call for as many as 30 openings in the coming 24 months. Expansion will
take place in the existing markets. Leases running three to five years are typical.
Builders First Source
Marvin Robinson
2431 Highway 501 East
Conway, SC 29526-9508
843-347-4235, Fax 347-4096
Home Improvement
The 58-unit chain operates locations in FL, GA,
NC, SC, TN and VA. The builders supply stores occupy freestanding facilities on 10
to 15 acres of land. Growth opportunities are sought in the Southeastern region.
Leases running five years are typical.
Sherwood Management Company
dba Daniels Jewelers
PO Box 3750
Culver City, CA 90231
310-665-2100, Fax 665-2131
Jewelry
The 38-unit chain operates locations in CA.
The jewelry stores occupy spaces of 1,300 sq.ft. to 1,500 sq.ft. in power centers
and regional malls. Preferred anchors include major department stores. Growth
opportunities are sought in the existing market. Leases running seven to ten years
are typical and the company, which prefers a vanilla shell, sites Crescent as
competition.
Wherehouse Entertainment
dba The Wherehouse, Tu Musica
Patricia Apel
19701 Hamilton Avenue
Torrance, CA 90502-1334
310-538-2314, Fax 538-0085
Music
The 543-unit chain operates locations nationwide.
The stores, selling music and offering videos for rent and for sale, occupy spaces of 4,000
sq.ft. to 6,000 sq.ft. in freestanding facilities on mall ring roads, power centers
and regional malls. Growth opportunities are sought nationwide. Preferred
demographics include a population of 150,000 within three miles. Leases running five years
are typical.
D.O.C. Optics Corp.
dba D.O.C. Optics
Steven Laffey
19800 West 8 Mile Road
Southfield, MI 48075
248-354-7100, Fax 354-9074
e-mail: slaffey@doc.com
home page: www.doc.com
Optical
The 117-unit chain operates locations in FL, IL,
MI, MO, OH and WI. The optical stores occupy spaces of 1,200 sq.ft. to 4,000 sq.ft.
in downtown store fronts, freestanding facilities, regional malls and strip centers.
Growth opportunities are sought in the existing markets.
Eagle Pacific
dba Scamps Pet Centers
Michael Twain
203 S.E. Alder #202
Portland, OR 97214
503-239-4266, Fax 239-4268
Pet Supplies
The 12-unit chain operates locations in OR and
WA. The pet supply stores occupy spaces of 1,200 sq.ft. to 2,000 sq.ft. in
power centers and regional malls. Plans call for two openings in the coming 18 months.
Expansion will take place in the existing markets. Leases running seven years are
typical.
Foto Hut/Camera Exchange Inc.
dba Foto Hut/Camera Exchange
Ken Buettner
1505 East Carson Street
Pittsburgh, PA 15203
412-381-7524
Photo
The 11-unit chain operates locations in PA. The
stores, selling photography equipment and offering one-hour film processing services,
occupy spaces of 1,000 sq.ft. to 1,500 sq.ft. in freestanding facilities and strip
centers. Growth opportunities are sought within a 13-mile radius of Pittsburgh, PA.
Boot Barn Inc.
dba Boot Barn
Ken Meany, Patrick Meany
1560 South Sinclair
Anaheim, CA 92806
714-937-9191, Fax 937-9199
Shoes
The 21-unit chain operates locations in CA and
NV. The stores, selling Western wear and boots, occupy spaces of 10,000 sq.ft.
in freestanding facilities, outlet and strip centers. Preferred co-tenants include big box
retailers. Plans call for as many as five openings in the coming 18 months. Expansion will
take place in the existing markets. Preferred demographics include a population of
250,000 within 10 miles. Leases running five years are typical and the company requires a
vanilla shell.
American Fastsigns, Inc.
dba American Fastsigns
Ed Gruber
2550 Midway Road, Suite 150
Carrollton, TX 75006
972-447-0777, Fax 248-8201
Signs
The 433-unit chain operates locations throughout
North America. The stores, selling signs and banners, occupy spaces of 1,400 sq.ft.
to 1,800 sq.ft. in downtown store fronts and strip centers. Plans call for as many as
50 openings in the coming 18 months. Expansion will take place throughout North America.
Leases running five years are typical. The company is franchising and is seeking
franchisees.
Boaters World Inc.
dba Boaters World
Lawrence Ben Bassett
6711 Ritz Way
Beltsville, MD 20705
301-419-0000, Fax 419-2995
Specialty
The 104-unit chain operates locations in 20
states. The stores, selling boating supplies, occupy spaces of 6,000 sq.ft. to
8,000 sq.ft. in freestanding facilities and power centers. Growth opportunities are
sought in CA and states with high boater registration. Leases running five to ten
years are typical.
West Marine
dba West Marine, E&B Discount Marine
Bonnie Tragni
500 Westridge Drive
Watsonville, CA 95076
831-728-2700, Fax 728-2736
Specialty
The 227-unit chain operates locations in 34
states. The stores, selling boating supplies and apparel, occupy spaces of 5,000
sq.ft. to 10,000 sq.ft. in freestanding facilities and strip centers located near
water. Growth opportunities are sought nationwide.
Canned Foods Inc.
dba Grocery Outlet
Dave Kindell
2000 5th Street
Berkeley, CA 94710-1918
510-845-1999, Fax 649-1484
Supermarket
The 115-unit chain operates locations in AZ, CA,
HI, ID, MT, NV, OR, UT and WA. The discount, close out grocery stores occupy spaces of
15,000 sq.ft. to 20,000 sq.ft. in freestanding facilities and strip centers.
Preferred co-anchors include drug stores, Kmart and Wal*Mart. Plans call for
15 openings in the coming 18 months. Expansion will take place in the existing markets.
Preferred demographics include a population of 45,000 within 10 miles. Leases running five
years are typical.
K.V. Mart Co.
dba Valu Plus Food Warehouse, Top Valu Markets
Marie Bowers
1245 East Watson Center Road
Carson, CA 90745-4207
310-816-0200, Fax 816-0201
Supermarket
The 27-unit chain operates locations in CA.
The supermarkets occupy spaces of 21,000 sq.ft. to 50,000 sq.ft. in strip centers.
Plans call for five openings in the coming 18 months. Expansion will take place in the existing
market. Leases running 20 years are typical.
R-Ranch Markets
Ken Simon
c/o KFS Properties
711 Montana Avenue, Suite C
Santa Monica, CA 90403
310-576-6666, Fax 576-6669
Supermarket
The seven-unit chain operates locations in CA.
The ethnic supermarkets, serving the Hispanic and African American communities, occupy
spaces of 20,000 sq.ft. to 30,000 sq.ft. in freestanding facilities and strip
centers. Plans call for three openings in the coming 18 months. Expansion will take place
in Southern CA with an emphasis on Los Angeles, Orange, Riverside, San Bernardino and
San Diego.
Raleys
Robert Henderson
PO Box 15618
Sacramento, CA 95852
916-376-6900, Fax 376-6901
e-mail: bhenders@raleys.com
home page: www.raleys.com
Supermarket
The 150-unit chain operates locations in CA, NV
and NM. The supermarkets occupy spaces of 61,000 sq.ft. in strip centers. Plans
call for eight openings in the coming 18 months. Expansion will take place in Northern
CA and NV.
Exclusives
CB Richard Ellis, Inc. (305-381-6411 or
305-381-6425) has been named exclusive agents by Sears Roebuck & Co. to dispose
of 10 former NTB stores throughout Southern FL. There are six freestanding
buildings ranging in size from 9,800 sq.ft. to 11,100 sq.ft. There are also four sub-lease
opportunities.
Robert K. Futterman & Associates, LLC
(212-599-3700) is exclusively representing Wolf Camera throughout the New York
region. Since RFK was appointed their exclusive leasing representative in NY, Wolf Camera
has opened two locations in New York including a 6,400 sq.ft. store on East 86th Street
and a 5,000 sq.ft. store on East 69th Street.
Michael Salove Company (610-664-8100) has been
named the exclusive leasing agent for Columbus Crossing, a new 155,000 sq.ft.
shopping center to be built in Philadelphia PA. The project will be anchored by a 61,000
sq.ft. SuperFresh supermarket and is located adjacent to Home Depot and Wal*Mart.
The center is being developed by Tower Investments, Inc. and a Summer 2000 opening
is planned. The company is also representing more than two dozen retail chains with their
expansion needs.
Breslin Realty (516-741-7400) and Prudential
Long Island Commercial (516-928-9600) have been named the leasing agents for Coram
Plaza Shopping Center in Coram, NY by SMP, LLC. The 275,000 sq.ft. project was
formerly anchored by Caldor and Pathmark.
Keen Realty Consultants Inc. (516-482-2700) has
been retained by Learningsmith Inc. to sell the companys retail leases and
intellectual property. Recently, Keen Realty offered a bankruptcy auction of the
chains 90 retail sites, ranging in size from 3,300 sq.ft. to 6,700 sq.ft., in 30
states; its distribution facility in MA and an office building in MA. In addition, the
intellectual property available for sale includes 24 registered trademarks, nine domain
names, a customer list of approximately 1.4 million and a packaging copyright.
Space Place
Arizona
Chandler- Casa Paloma is anchored by The
Gap, Banana Republic, Talbots, A.J.s Finer Foods and Tomasos
Italian Restaurant. The project has in-line spaces up to 30,000 sq.ft., as well as pad
sites from 4,000 sq.ft. to 7, 000 sq.ft. available for lease.
For details, contact DeRito Partners at
(602-834-8500).
Chandler- Chandler Pavilions is
anchored by Home Depot, Toys R Us, Borders, Bed Bath & Beyond, Golfsmith,
CompUSA and Sams Club. The project has in-line spaces from 8,000 sq.ft.
to 130,000 sq.ft., as well as pad sites from 4,000 sq.ft. to 6,000 sq.ft., available for
lease.
For details, contact Tait Development at
(602-279-3999).
Connecticut
Torrington- Torrington Parkade is
anchored by Big Y, Ames and Burger King. The 200,000 sq.ft. project has
spaces of 6,000 sq.ft. and 9,000 sq.ft. available for lease. Demographics include a trade
area population of more than 70,000 earning $55,000 as the average household income.
For details, contact Daniel Weinreb of Paragon
Realty Group, LLC at (203-254-7077), Fax (254-7081).
Florida
Margate- Lakewood Shopping Center is
anchored by Kmart, Winn-Dixie Marketplace, Walgreens and Silver Cinemas. The
313,077 sq.ft. project has spaces from 900 sq.ft. to 26,560 sq.ft. available for lease.
Demographics include a three-mile population of 173,523 earning $53,547 as the average
household income.
For details, contact Courtelis Company at
(305-379-8467), Fax (381-7875).
Georgia
Smyrna- Belmont Hills is anchored by Sears,
JC Penney Outlet Stores and Payless Shoes. The 435,000 sq.ft. project has space
available for lease. Demographics include a trade area population of 195,794 earning
$41,368 as the median income.
For details, contact Halpern Enterprises, Inc.
at (770-451-0318), Fax (454-8228).
Louisiana
Baton Rouge- Northeast Plaza is
anchored by SuperFresh Supermarket, Eckerd and Dollar General. The
82,224 sq.ft. project has space available for lease. Demographics include a three-mile
population of 22,686 earning $64,008 as the average household income.
For details, contact DLC Management Corporation
at (914-631-3131), Fax (631-6533).
New Mexico
Albuquerque- A 50,078 sq.ft. former Service
Merchandise store is available for lease at Wyoming Mall. Anchors
include Furrs Supermarket, Stein Mart and Radio Shack. Demographics
include a three-mile population of 156,086 earning $49,618 as the average household
income.
For details, contact Paul Bayer of Commercial Net
Lease Realty Services, Inc. at (407-650-3697), home page (www.cnlreit.com).
New York
East Patchogue- Swan Nursery Commons
is anchored by Waldbaums Supermarket, Walgreens, Tutor Time and Hollywood
Video. The 121,786 sq.ft. project has space available for lease. Demographics include
a three-mile population of 65,029 earning $59,389 as the average household income. In Wading
River- Wading River Plaza is anchored by King Kullen. The 90,000
sq.ft. project has spaces of 5,000 sq.ft., 7,000 sq.ft. and 23,582 sq.ft. available for
lease. Demographics include a five-mile population of 29,796 earning $54,212 as the
average income.
For details, contact Serota & Sons at
(516-561-9500), Fax (561-9378).
Ohio
Dayton- Forest Park Plaza is anchored
by a supermarket, Dollar General and Rite-Aid. The 165,000 sq.ft. project is
in search of a 30,000 sq.ft. to 50,000 sq.ft. furniture retailer or discount department
store. The center also has spaces from 1,200 sq.ft. to 18,000 sq.ft. available for lease.
Demographics include a five-mile population of 198,108 earning $38,687 as the average
household income.
For details, contact Jeff Ross of Paran
Management Company at (800-888-5663), home page (www.paranmgt.com).
Pennsylvania
Erie- Peach Street Square is anchored
by Wal*Mart, Lowes Home Improvement, Kohls, Just For Feet, Home Depot,
Circuit City, PetsMart, Cinemark Theater, Media Play and T.G.I. Fridays.
The 581,592 sq.ft. project has seven outparcels, ranging in size from .75 acres to 1.45
acres, available for lease. Demographics include a five-mile population of 133,377 earning
$48,966 as the average household income.
For details, contact Developers Diversified
Realty Corporation at (216-755-5500), Fax (755-1500), home page (www.ddrc.com).
South Carolina
Greenville- A freestanding 3,200 sq.ft.
building is available for lease. The site fronts Haywood Road, near Haywood Mall,
and features space on two levels with on grade parking both front and back.
For details, contact Marty Navarro of Navarro
Real Estate, Inc. at (864-255-3006), Fax (255-3007).
Tennessee
Nashville- Priest Point Shopping Center
is anchored by Food Lion. The 105,335 sq.ft. project has space available for lease.
Demographics include a five-mile population of more than 75,000 earning $75,000 as the
average household income.
For details, contact CNM Associates at
(404-869-2700), Fax (869-7171).
Texas
Amarillo- Coulter Forum Shopping Center
is anchored by Great American Toy Company, Santa Fe Restaurant, Masons Pro Frame
Shop and All the Fixins. The 33,919 sq.ft. project has space available or
lease. Demographics include a five-mile population of 110,160 earning $45,095 as the
average household income. Also in Amarillo- Olsen Village Shopping Center
is anchored by Michaels, Kinkos, The Brew Pub and Hallmark. The 82,815
sq.ft. project has space available for lease. Demographics include a five-mile population
of 135,637 earning $46,008 as the average household income. In Spring- Northland
Shopping Center is anchored by Kroger, Weiners, Walgreens, Payless Shoes,
Radio Shack, Wendys, McDonalds and Pizza Hut. The 161,283 sq.ft.
project has space available for lease. Demographics include a five-mile population of
124,511 earning $66,913 as the average household income.
For details, contact The Pilchers Group at
(214-520-2800), Fax (520-2878).
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