February 11, 2000
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The Dealmakers Issue Number 5 for the week of February 11, 2000.

I just returned from the Restaurant and Bar convention held in Las Vegas where 15,000 +/- great party people were in attendance. Because of the type of industry involved, all the liquor and beer companies were exhibiting and giving out samples with most of the booze exhibitors having girls in bikinis working behind (and in front) of the bar, and in many cases making the Qzar girls at the Vegas ICSC show a few years ago look like old maids. Again, because it’s a restaurant and bar show, smoking cigarettes and cigars were allowed everywhere (my kind of people) and because there was lots of free drinks flowing, about 25% of the crowd felt really good by 2 p.m. which is why the local police patrolled the show. It was a really great group of people who appear to both work and play hard...somewhat like this industry 25 years ago; you could really enjoy what you did for a living. For the alter kuckers out there, think back when real estate was fun. You were single, making a decent buck (but still couldn’t live on it) so the world was your oyster. That’s what this group reminded me of, young, energetic and having fun while trying to figure out how to become rich. What impressed me the most was while all the men seemed to enjoy the scantily clad girls, the busiest booth was the steam cleaner that "guaranteed" to take all stains out. I guess they figured they could see a scantly clothed girl anytime, but a great steam cleaner is hard to find.

What’s interesting is I’d guesstimate the crowd at 15,000 with two thirds of the attendees being the owner/operator or a representative of the owner. The rest were the support industries that supply restaurants and bars and two lone real estate brokers. I wasn’t smart enough to go there thinking I could make money as a broker from this group. I went there representing ESP (Entertainment & Specialty Projects), hoping (it’s the first time we’ve gone or exhibited at this show) to find interesting restaurants, bars and concepts to write about and maybe pick up a few subscribers.

Well, while I think we accomplished our initial goal, I also may make a few bucks off the real estate leads I picked up. Eighty-five percent of the tenants present were one store operators (about 50% want to expand, but are having difficulty, especially when it comes to obtaining zoning for the bars--talk about big defenders of the First amendment, it’s this group). What made things even more interesting was at the same time as this show was going on, the Scuba Diving and Adventure Group was having its show in the next hall (talk about a radically different attendee profile). A totally different group in comparison to the R&B attendees and also the NRA (they seem to have more in common with the bar owners) was also in town doing its thing. I found the three diverse groups to be entertaining and fascinating to watch. I’d be willing to bet dollars to donuts that if next year four or five brokers, who are willing to hustle attend, they could make a good buck off this group, so I suggest you put it on your agenda. The "other broker" at this show (and who specializes in bars and restaurants) was Winston Hines. He’s been exhibiting for several years and seems to be "happy" so it must be profitable. Anyway, if you’re a broker, I recommend attending. If you’re a shopping center owner who wants "food" in your center or complex or if you’re a developer of entertainment or specialty centers; you should go as well; it will pay. While 85% are ma’s & pa’s (but still want new locations), 15% are chains of two to 800 stores and someone with some degree of authority from the each company was present in all the meetings I had (which is different from the National Retail Tenant conventions I’ve attended; there’s only operations personnel). Also in attendance were lots of hotel operators looking to improve their food service. So if you deal with hotel/motels, here’s another reason to attend. Because of the success of this show, I think Deal makers and ESP will be expanding where we exhibit, hopefully finding new retailers and opportunities to report on.

On a different note, business overall appears to still be doing well; maybe not phenomenal, but good. I’m starting to see the attempted sale of some types of property becoming weird again. Several "assignments" I’ve been involved with lately are for relatively new centers (under three years old) which can’t afford to sell or lease. This is similar to what we went through in the early ‘90's. Except the reason they can’t sell this time is that they are leveraged high and in order to obtain big rents, gave generous TI and now that one or more of their key tenants have gone under, the only way to replace the lost income at similar (but not necessarily as high) rent is again with high TI. However, this time they don’t have the construction or permanent funding available, it has to come out of their pocket and in most cases, they either don’t have it or don’t want to part with it. They can’t sell the center because the "income" from the defunct tenant isn’t there to justify the price and refinancing to get the TI can be real expensive since the money was borrowed when rates were a lot lower.

Another change I’ve noticed is the "small tenant" (2,000 sq.ft. to 6,000 sq.ft.) seems to becoming more active again compared to the last few years when most expansion was by the big boxes. Now I admit I don’t usually work on the best centers, but the rent difference between the "big box" tenant and the "little guy" is zilch, usually less than $1 psf. It used to be a major difference in rents paid, but the "big guy" doesn’t have as many locations to choose from, so they can’t negotiate that strong. The smaller user, however, has more choices and therefore negotiates harder.

Parting Thoughts: I just read that Moody’s downgraded the stock rating of Prime Retail because of Prime’s "liquidity" requirements and weakened earnings expectations. While REITs as a whole have not done well in the last year, the outlet industry is really in trouble and that includes the whole industry, not just Prime. I think we’re going to see a lot of poor performing (notice I didn’t say underperforming, since that might give the impression that someday it will do better) outlet centers sold and either converted to an alternate use or into a conventional center leasing to anyone who will pay rent (something many of the outlet REITs are doing now). I believe at the right price, these centers can make sense to the next owner.

Elder-Beerman Stores does business as Shoebilee at 50 locations in IL, IN, MI, OH, PA and WV. The stores, selling branded family shoes, occupy spaces of 4,800 sq.ft. to 5,200 sq.ft. in power and strip centers. Plans call for as many as 15 openings in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of 30,000 within five miles earning $50,000 as the average income. Leases running five to ten years are typical.

For more information, contact Robert Bedore, Elder-Beerman Stores, 3155 El-Bee Road, Dayton, OH 45439; 937-296-2805, Fax 296-4625.

Hartig Drug Co., Inc. trades as Hartig Drug Store, Hartig Home Care and Hartig Nursing Services at 10 locations in IL and IA. The drug stores occupy spaces of 9,000 sq.ft. to 12,000 sq.ft. in freestanding facilities. Plans call for two openings in the coming 18 months. Expansion will take place in the existing markets. Leases running 20 years are typical.

For more information, contact Richard Hartig, Hartig Drug Co., Inc., 73 Town Clock Plaza, Dubuque, IA 52004-0709; 319-588-8700, Fax 588-8725.

G.W. Entertainment Inc. trades as J.C. Flicks Video at 21 locations in AZ, CO, IL, IN and NM. The video stores occupy spaces of 5,000 sq.ft. to 10,000 sq.ft. in strip centers. Preferred anchors include Kmart, Wal*Mart and supermarkets. Growth opportunities are sought in CO, IL, IA, MT, UT and WY. Preferred demographics include a population of 10,000 within three miles. Leases running five years are typical.

For more information, contact Joe Wojcik, G.W. Entertainment Inc., 20639 South Amherst Court, Joilet, IL 60433; 815-727-9370.

Fastop Convenience Stores trades as Fastop and URSA Market at 16 locations in IL and MO. The convenience stores, which also offer liquor, food services, a post office and car wash, occupy spaces of 1,800 sq.ft. to 4,000 sq.ft. in freestanding facilities. 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 2,000 within one to two miles earning $20,000 as the average income. Leases running five years are typical.

For more information, contact Chris Bickhaus, Fastop Convenience Stores, 823 West 12th Street, Quincy, IL 62301; 217-224-7898, Fax 224-3707.

Fagen Pharmacy operates 23 stores in IL and IN. 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 the existing markets. Leases running 10 years are typical. The company also operates a mail order service only trading as American Drug Store.

For more information, contact Gerald Fagen, Fagen Pharmacy, 915 South Hallack, Demotte, IN 46310; 219-987-6468, Fax 987-7226.

Duke-Weeks Realty Corp. dropped plans to develop a 1.26 million sq.ft. retail and office complex at the intersection of US 31 and 96th Street in Indianapolis, IN because of opposition from nearby residents and uncertainties surrounding the state’s plan to expand the highway. While the plans are not completely dead, Duke’s contract to purchase the 66-acre tract from NRC Corp. has expired. At the time the contract expired, the state was developing plans to use some of the land for an expanded interchange. Duke tried to redesign the project to avoid using land the state might want, but ran into zoning problems. Duke had proposed developing seven office buildings, three parking garages, a hotel and several restaurants and retail stores. After the state decides what land it will need, Duke plans to re-evaluate the feasibility of the project. The state is expected to take at least 18 months to complete its study.

For more information, contact Duke-Weeks at (317-846-4700).

A joint venture between Trion Ventures and Orix Real Estate Equities is developing Viera Village Shopping Center in Viera, FL. The 73,000 sq.ft. project, located at the intersection of Viera Boulevard and Murrell Road, will be anchored by a 50,000 sq.ft. Kash N Karry Grocery store, which will be the first of a new prototype for the company. The center is located in the heart of the Viera development and has an average income of $70,000 per household.

For more information, contact Judy Cable of CableCo, the leasing agent, at (305-892-9900).

Benderson Development Co. plans to break ground on University Consumer Square in East Manatee, FL. The 268,000 sq.ft. project will be anchored by a 110,000 sq.ft. Home Depot and a 52,000 sq.ft. Winn-Dixie Marketplace. Three additional retailers and two restaurants will also be developed. The main entrance of the 124 acre project will be located on University Parkway between Cooper Creek Boulevard, which provides access to Sarasota Square Outlet Mall, and what will become an extension of Honore Road. While the project was first approved 14 years ago for a different developer, the Manatee County Commission gave its approval to Benderson in August. The shopping center is the first of several stages of construction expected to take place at Cooper Creek. The struggling Sarasota Square Outlet Mall is slated to undergo a major renovation and reconfiguration to offer a more diverse and upscale selection of tenants. The 307,000 sq.ft. existing facility could receive a 135,000 sq.ft. expansion. A 140,000 sq.ft. office park will be constructed behind the outlet center and about 317 acres will be reserved for 880 homes. Benderson owns 12 shopping centers in Manatee County including Pinebrook Square, Oakmont Plaza, Northwest Promenade and Braden River Plaza. The company is also part of the development team for the "Sandpile" in downtown Bradenton.

For more information, contact Benderson Development at (716-886-0211).

Saca Development plans to break ground this month on Laguna Pavilion in Sacramento, CA. The 72,000 sq.ft. specialty center, located at the intersection of Laguna Boulevard and Bruceville Road, across from a 450,000 sq.ft. power center, is expected to be anchored by 50,000 sq.ft. of national retailers. The remaining space is available for lease. Demographics include a five-mile population of 151,520 earning $67,682 as the average income. An August opening is planned.

For more information, contact John Brainin at (916-920-0400), Fax (641-0400).

Selleck Development Group Inc. is looking to develop a shopping center on a 25 acre parcel of land fronting U.S. 101 Freeway in Agoura Hills, CA. Currently, three businesses occupy the site and Selleck Development has agreed to help relocate them. One of the businesses, Agoura Animal Shelter has agreed to a site across the highway, but the other two, Agoura Equipment Rentals and Agoura Building Materials, have indicated that they do not want to move. Selleck Development expects to submit a formal plan, the third proposal for this land in the last two years, to the city planning commission within a month.

For more information, contact Dan Selleck at (805-495-5400), Fax (495-5300).

Clary Development Corp. and Dial Companies recently broke ground on phase II of South Lake Centre in Southaven, TN. Phase II of the 500,000 sq.ft., $60 million project will be occupied by HomePlace, Old Navy, Hancock Fabrics, Petco, Shoe Carnival, Hit or Miss, Family Bookstore, The Mattress Firm, S&K Men’s Store, Radio Shack, Supercuts and Dollar Tree, all of which will be new to the market. Also included in phase II construction will be an Office Depot, a Heavenly Ham store and an Outback Steakhouse restaurant. A November opening is planned. Phase I is anchored by Wal*Mart. Approximately 30,000 sq.ft. of space remains available for lease at the project and developers are negotiating with an apparel retailer.

For more information, contact Steve Clary of Clary Development at (501-225-0204) or Dial Companies at (402-493-2800).

Burnham Pacific Properties, Inc. recently finalized certain modifications to BPP Retail LLC, the company’s joint venture with the California Public Employees’ Retirement System. As part of the modification, Burnham Pacific has sold two properties to the joint venture for $18.9 million, comprised of $12.8 million in cash and the assumption by the joint venture of $6.1 million in existing mortgage debt. The sale included Stanford Ranch Shopping Center, a 100,374 sq.ft. project located in Rocklin, CA, anchored by a 45,540 sq.ft. Raley’s Supermarket, and the Foothill Plaza Shopping Center, a 52,300 sq.ft. project located in Los Altos, CA, anchored by a 22,400 sq.ft. Rite Aid Drug Store. The sale represents an aggregate gain of approximately $1.6 million over the company’s book values for these properties. Cash proceeds were used to reduce outstanding indebtedness and for general working capital purposes.

For more information, contact Burnham Pacific at (619-652-4700), Fax (652-4711), home page (ww.burnhampacific.com).

Arroyo & Coates has the listing to sell a two tenant building on 1.85 acres at a signalized intersection with a 14,662 sq.ft. Walgreens Drug store and a 954 sq.ft. TSR Paging store in Citrus Heights, CA. Walgreens has a 60 year primary lease term with eight five-year options. The asking price is $4.558 million at an 8% cap rate. Projected NOI is $364,658.

For more information, contact Eric Wilcox at (415-445-7800), Fax (392-2701), e-mail (ewilcox@a-c.com).

Colliers L&A represented Feldman Associates in the sale of a 45,000 sq.ft. former Furniture Unlimited building fronting Route 73 in Voorhees, NJ. The buyer was Karen’s Furniture and the sale price was $1.125 million.

For more information, contact Colliers L&A at (215-925-4600).

Pan Pacific Retail Properties, Inc. recently acquired Cable Park Shopping Center in Sacramento, CA for $12.2 million or $76 psf. The 160,800 sq.ft. project is 99% leased and anchored by Albertson’s, Long’s Drugs and a U.S. Post Office. The acquisition was facilitated through a 1031 exchange. The company also announces the sale of two non-strategic assets for approximately $8.6 million: Rosewood Village, a 50,000 sq.ft. shopping center in Santa Rosa, CA and Foothill Plaza, a 20,000 sq.ft. shopping center in Rialto, CA.

For more information, contact Stuart Tanz at (760-727-1002), home page (www.pprp.com).

Carolina Holdings, Inc. is in the market to acquire development and re-development opportunities throughout the Southeastern region. Preferred sites should be a minimum of 1.5 acres.

For details, contact Diana Bolding at (864-458-8088), Fax (458-9549), e-mail (diana.bolding@choldings.com).

Eastbourne Investments Ltd. recently acquired a 25 acre parcel in Pasadena, TX for $3.9 million. The land is situated adjacent to Fairway Plaza Shopping Center which is anchored by OfficeMax, Old Navy, PetsMart, Palais Royal and Michael’s. Eastbourne anticipates a retail development similar to Fairway Plaza. The property marks the fifth acquisition for Eastbourne in the past 12 months totaling almost $36 million. The company is also in the market to acquire grocery-anchored shopping centers in the Southern and Southwestern regions.

For more information, contact Frank Egan at (416-597-3310).

A joint venture between Kimco Realty and the New York State Pension Fund recently acquired Latham Farms Shopping Center in Albany, NY from AMB Property L.P. for $58.6 million. The 602,000 sq.ft. project is anchored by Wal*Mart and Hannaford Supermarket. Home Depot plans to open a store at a former Better Spaces store during Spring. The ownership of the center is structured so that Kimco owns 40%, the pension fund owns 40% and a group of other institutional investors own 20%. Kimco will handle the leasing and operations of the center and the pension fund will be a passive investor.

For more information, contact Kimco Realty at (516-869-7100).

Richman Realty Associates has the listing to sell freestanding 7-Eleven stores throughout FL. The stores have NNN leases running 14 years, 11 months, with three options of five years each. The rent increases 12% every five years, including option periods. The asking prices range from $1.6 million to $2.5 million based on cap rates from 8.5% to 8.7%.

For more information, contact Sy Richman at (561-852-7090), Fax (852-8346), e-mail (syrich@aol.com).

Westwood Financial Corporation has the listing to sell the Beach & Rosencrans Shopping Center in Buena Park, CA. The 28,753 sq.ft. center is fully occupied and sits on 2.9 acres. The asking price is $3.45 million with a cap rate of 11.09%. Key tenants include Peppercorn Market, New Fashion Cleaners, and a Korean restaurant.

For more information contact Corey Davidson at (310-820-5443, ext. 321) or Philip Duke at (820-5443, ext. 323).

Pacific Capital has the listing to sell a 60,114 sq.ft. Raley’s in Fallon, NV. The asking price is $4.8 million, or $79.85 per sq.ft., with a cap rate of 8.77%. Raley’s has been operating the store since 1976.

For more information contact Peter Hollingshead at (916-773-3300).

Syndicated Equity Corporation recently closed three major retail transactions totaling $11.1 million. The company sold a 10,908 sq.ft. Eckerd Drug store for $2.574 million in Avon Park, FL; a 15,120 sq.ft. Walgreens in Dayton, OH, and a 13,905 sq.ft. Walgreens for $3.875 million in Springfield, MO. The company specializes in identifying and evaluating credit-tenant, net-leased income properties.

For information contact Carol Blomstrand at (312-640-9020).

Palmer & Cay Properties, Inc. has the listing to sell a 41,980 sq.ft. Bi-Lo Supermarket on seven acres in Batesburg, SC. The asking price is $4.274 million based on an 8.25% cap rate.

For information contact Charles Stewart at (912-234-8033).

Investcorp is looking to purchase neighborhood and community shopping centers having GLAs of at least 90,000 sq.ft. in the Mid-Atlantic, Northeastern, Southwestern and Southeastern markets.

For information contact Jon Dracos of Investcorp International at (212-599-4700), homepage (www.investcorp.com).

ICA Realty Corp. has the listing to sell an unsubordinated ground lease for a 15,051 sq.ft. Walgreen Drug Store in Boca Raton, FL. The company is asking $5.161 million for the property. The buyer is not purchasing the building - only the land it stands on.

For information contact James Dwoskin at (212-889-8730), Fax (889-9007).

Net-Properties represents a client in the market to acquire 7-Eleven ground leases.

For more information contact Blair Rinnier at (410-749-8980), Fax (603-754-1600).

Crown Properties has the listing to sell a 200,000 sq.ft. shopping center in Memphis, TN. The asking price for the 75% occupied center, anchored by Wal*Mart, is $7.5 million based on a cap rate of 9%.

For more information, contact Joseph Alenick at (718-953-9385).

Colliers L & A has the listing to sell a 55,000 sq.ft. Dick’s Clothing & Sporting Goods store in Harrisburg, PA. The store is part of a 270,000 sq.ft. power center located at the intersection of Carlisle Pike and Brondole Road. The tenant has a primary lease term of 20 years which expires January 2017, with two five-year options.

For more information, contact Joel Flachs at (215-928-7588).

Ruano Realty Inc. has the listing to sell an 8,410 sq.ft. building on a land area of 27,000 sq.ft. located near the airport, port and downtown Miami, FL. The asking price is $320,000 and the site is conducive to a retail use.

For more information, contact Ed Querch or Eugene Poussin at (800-882-1454) or e-mail (epoussin@aol.com).

The City of Montclair, CA is trying to acquire the site of a former Kmart store so it can sell the land to Costco Wholesale Corp. (425-313-6360), however, the owner of the land is refusing to sell. The city redevelopment agency planned to purchase the lot and four neighboring parcels and resell the property to Costco, but the owners say they are considering selling the land to Kmart and have rejected Costco’s offer to pay the full appraised value of the land. Negotiations with the owners, Business Properties, have stalled over who would pay $300,000 to demolish the old Kmart, which closed in April after its lease expired. When the city sent an appraiser to set a fair value for the land, a Business Properties official ordered him off the land. The city believes that the owner is using Kmart as a ploy to set a higher price for the land and could go to court to force the owners to sell the land at its appraised value. The city wants Costco to get the site because it would generate about $120 million a year in sales tax revenue, double what a typical Kmart generates.

Elder-Beerman Stores Corp. (937-296-2700) plans to open a 74,000 sq.ft. store at Grand River Plaza in Howell, MI during Fall. The store, the company’s seventh in MI, will incorporate the company’s new concept of destination department stores in underserved markets introduced last Fall in its Warsaw, IN and Frankfort, KY stores.

Rubio’s Restaurants Inc. (310-451-8171) plans to offer franchises for the first time as part of the chain’s goal of nationwide expansion. The 91-unit Mexican fast food chain opened 31 company-owned restaurants last year, an increase from its plan of 28 stores. The decision to franchise will allow Rubio’s to expand faster than if the company builds and owns all of its own stores. The company doesn’t expect to open any franchised units this year and plans to be very picky in granting franchise territories. The company plans to seek franchisees who already operate other restaurants in their respective markets. The company does plan to open 36 company-owned restaurants this year, half of which will be in Southern CA.

Best Buy (612-995-7049) plans to open a 45,000 sq.ft. store at Creekside Town Center in Roseville, MN during Fall. The store is part of the 50 stores the company plans to open nationwide this year.

Wal*Mart Stores (501-273-4000) recently submitted plans to the city of Springfield, OR, which were subsequently returned because they did not comply with submittal rules, that call for the development of a 200,000 sq.ft. Wal*Mart store, a 100,000 sq.ft. building and several smaller buildings totaling 100,000 sq.ft. on the site of the former Springfield Airport. The plans, submitted in December, were returned because of several flaws, such as the incorrect fee and the lack of a stamp from an Oregon-registered engineer or architect. Wal*Mart has yet to resubmit the plans. The area is zoned commercial and Wal*Mart has a contract to buy the land from McKenzie Field LLC. Also, Wal*Mart has proposed stores for the former Rockwell International Property in Lakewood, CA and the Long Beach Plaza in Long Beach, CA.

One Price Clothing Stores, Inc. (864-433-8888) plans to enter the New England market with as many as 20 stores in CT, MA and RI. The openings are part of the company’s goal of opening 50 stores this year. The first nine New England stores are expected to open during Spring, four of which will be in CT, four in MA and one in RI. The stores will average 4,000 sq.ft. The New England stores will trade as BestPrice! Fashions. The company also plans to convert its stores in Tucson, AZ and New Orleans, LA to the BestPrice! Fashions concept. The company operates a national chain of retail specialty stores offering first quality, in-season apparel and accessories for women, men and children at everyday low prices. The company currently operates 636 stores in 27 states, Washington, D.C., Puerto Rico and the U.S. Virgin Islands.

24 Hour Fitness (510-416-7370) plans to open a 46,000 sq.ft. fitness facility at a former King Soopers store at Southgate Shopping Center in Colorado Springs, CO. It will be chain’s second location in Colorado Springs with the other located at Shops at the Bluffs.

New World Coffee-Manhattan Bagel Inc. (732-544-0155) franchisee, R & W Bagels, recently opened a 1,200 sq.ft. Manhattan Bagel in Deerfield Beach, FL. R & W Bagels plans to open up to seven Manhattan Bagel stores in Palm Beach and Broward Counties by 2005.

Jason’s Deli (409-866-9015) plans to open its first location in SC this month at Crosspointe Plaza, in Greenville. The company also plans to expand into NC, adding to its 70 locations operating throughout AR, CO, FL, GA, KA, LA, TN and TX.

Children’s World Learning Center (615-385-3186) will open a freestanding child care center on a 1.6 acre site in the New Albany Business Campus, near Columbus, OH during the summer of 2000. Children’s World Learning Center operates 700 locations in 23 states.

Walgreen Co. (847-940-2500) expects to open 450 stores during fiscal 2000 and plans to operate a total of 6,000 drugstores by the year 2010. By the end of calendar year 2000, stores will be added in MD, UT and WY, bringing coverage to 43 states and Puerto Rico. The company is continuing to relocate its in-line stores to more convenient and profitable freestanding locations.

Krispy Kreme Doughnuts (336-725-2981), has plans for an initial public stock offering in the spring. The company will use part of the proceeds from the stock sale to remodel and relocate some of its company-owned stores.

Strouds Inc. (626-912-2866) plans to open one linens superstore and five outlet stores this month.

Target Stores (612-304-6099) has denied a report that it would definitely be the anchor for a new 125,000 sq.ft. shopping center in Columbia, SC, but confirmed that it is looking at locations in the market.

G & G Retail, Inc. (212-279-4961) purchased nine leases from Coda. The acquisition includes stores at the following malls: Christina Mall in Newark, DE; Cumberland Mall in Atlanta, GA; River Oaks Center in Calumet City, IL; Southlake Mall in Merrilville, IN; Prince Georges Plaza in Hyattsville, MD; Mall of America in Bloomington, MN; Plaza Del Norte in Hatillo, PR; Willowbrook Mall in Houston, TX and Southcenter Mall in Seattle, WA.

Hudson Inc. trades as Hudsons at nine locations in LA and MS. The discount stores occupy spaces of 13,000 sq.ft. to 50,000 sq.ft. in freestanding facilities and strip centers. Plans call for one opening annually. Expansion will take place in the existing markets. Leases running five years are typical.

For more information, contact Larry Pressly, Hudson Inc., PO Box 699, Ellisville, MS 39437; 601-477-4951, Fax 477-5204, home page www.hudsonsalvage.com.

Fleming Companies, Inc. does business as Baker’s Food Stores, Boogart’s Food Store, Consumer Markets, Hyde Park Market, Jubilee Markets, Rainbow Food Stores, Sentry Markets, Simon Warehouse Foods and Thompson Food Markets at more than 370 locations in AL, CA, DE, GA, IL, IA, KS, KY, MD, MN NE, NY, NC, OK, PA, TN, TX, UT and WI. The supermarkets occupy spaces of 10,000 sq.ft. to 70,000 sq.ft. in strip centers. Growth opportunities are sought in the existing markets.

For more information, contact Charles Hall, Fleming Companies, Inc., 6301 Waterford Boulevard, Oklahoma City, OK 73118; 405-858-5963, Fax 858-5970.

GCJ Enterprises, Inc. trades as Ritz Food Stores at 33 locations in FL. The convenience stores, which also offer fast food, occupy spaces of 1,200 sq.ft. to 2,800 sq.ft. in freestanding facilities and strip centers. Preferred co-tenants include other fast food restaurants and hotels. Plans call for five openings in the coming 18 months. Expansion will take place in AL, FL and GA. Preferred demographics include a population of 1,000 within one mile earning $20,000 as the average income. Leases running 10 to 15 years are typical.

For more information, contact Richard Twitty, GCJ Enterprises, Inc., 806 Highway 90 West, Crestview, FL 32536; 850-682-8337.

Midstate Automotive trades as Parts City and Parts Place at 80 locations in AL, GA, IN, KY, MS, SC and TN. The automotive parts stores occupy spaces of 5,000 sq.ft. in freestanding facilities. Plans call for 30 openings in the coming 18 months. Expansion will take place in AL, GA, KY, MS and TN. Preferred demographics include a population of 6,000 within three miles earning $30,000 as the average income. Leases running 10 years, with two options of five years each, are typical.

For more information, contact Wendal Miller, Midstate Automotive, PO Box 24290, Nashville, TN 37202; 615-383-8566, Fax 292-6936.

Variety Wholesalers does business as Maxway Stores, Super Saver, Super 10, Value Mart, Bargain Town, Super Dollar, Pope/Eagel and Rose’s Stores at 480 locations in AL, FL, GA, LA, MD, MS, NC, SC, VA and WV. The general merchandise stores occupy spaces of 6,000 sq.ft. to 15,000 sq.ft., with the Rose’s stores occupying 25,000 sq.ft. to 50,000 sq.ft., in downtown store fronts, freestanding facilities and strip centers. Growth opportunities are sought in the existing markets.

For more information, contact Director of Real Estate, Variety Wholesalers, PO Box 17800, Raleigh, NC 27619; 919-876-6000, Fax 790-9572.

New Dean & Barry Ltd. trading as Dean & Barry Paint and Wallcovering operates 79 locations in AL, GA, KY, OH and WV. The home improvement stores occupy spaces of 3,000 sq.ft. in freestanding facilities and strip centers. Growth opportunities are sought in the existing markets.

For more information, contact Jack Branham, New Dean & Barry Ltd., 970 Woodland Avenue, Columbus, OH 43218; 614-258-3131, Fax 258-3530.

Music City Record Distributors does business as Cat’s Music at 26 locations in FL, SC and TN. The music stores occupy spaces of 1,800 sq.ft. to 3,800 sq.ft. in freestanding facilities, entertainment, power, specialty and strip centers. Plans call for five openings in the coming 18 months. Expansion will take place in the north Gulf Coast region and central TN. Preferred demographics include a population of 50,000 within three miles earning $37,000 as the average income. Leases running three to five years, with options, are typical.

For more information, contact Chuck Thatcher, Music City Record Distributors, PO Box 22773, Nashville, TN 37202; 615-255-7315, Fax 255-7329.

Payless ShoeSource, Inc. (785-233-5171) reported that its December sales increased 6.3% to $271.9 million from $255.7 million last year. Comparable store sales increased 2.7% for the month. The company operates 4,494 shoe stores nationwide. www.payless.com

Deb Shops, Inc. (215-676-6000) reported that its December sales increased 16.3% to $36.8 million from $31.7 million with comparable store sales up 10.9%. The company operates 286 specialty apparel stores trading as Deb, Deb Plus and Tops ‘N Bottoms in 37 states as well as 18 bookstores trading as Atlantic Book Shops and Atlantic Book Warehouse in five states.

Burlington Coat Factory (609-387-7800) reported that net sales during its second fiscal quarter increased four percent. Comparable store sales for the quarter, however, fell 3.9%. The company blamed the decrease in comp store sales on milder than usual weather as the comparative sales of coats fell 16%. Net income for the quarter slipped to $29.9 million from $30.2 million last year.

Payless Cashways Inc. (816-234-6630) reported an $8.1 million net loss for 1999, compared to a net loss of $22.4 million during 1998. Excluding one-time items, the company lost $5.8 million for the year, compared to $14.9 million during 1998. During the fourth quarter, the company’s sales fell 10% to $434.6 million with comp store sales down 5.4%. Despite the losses, the company still posted its best year-end bottom performance since 1994 and is hoping to turn the corner to profitability during its current fiscal year. The company recently moved its headquarters to Lee’s Summit, MO and plans to close its Lafayette, IN store.

Borders Group, Inc. (734-477-1100) reported that its fourth quarter superstore sales increased 20.1% to $571.2 million from $475.8 million during its fourth fiscal quarter last year. Comparable store sales increased 6.4% for the quarter. Waldenbooks sales for the quarter increased 11.2% to $381.6 million from $343.2 million with comparable store sales up 3.6%. The company currently operates 290 Borders Books and Music superstores in the U.S.; 900 Waldenbooks stores in malls, shopping centers and airports nationwide; and 27 Books etc. and six Borders stores in the United Kingdom. www.bordersgroupinc.com, www.bordersstores.com, www.borders.com

Ross Stores, Inc. (510-505-4400) reported that its December sales increased eight percent to $325 million from $301 million during December 1998. Comparable store sales for the month were even. Through the first 11 months of 1999, sales increased 13% to $2.332 billion from $2.062 billion with comparable store sales up six percent. The company currently operates 378 off-price apparel stores nationwide.

The Cato Corporation (704-554-8510) reported that its December sales increased 13% to $79.3 million from $70.4 million during December 1998. Comparable store sales for the month increased five percent. Through the first 11 months of 1999, sales increased 12% to $553.6 million from $493.1 million during 1998 with comparable store sales up five percent. During the first 11 months, the company opened 83 stores, remodeled 86, relocated 21 and closed six. Currently, the company operates 809 stores in 21 states trading as Cato Fashion/Cato Plus and It’s Fashion!

Hollywood Entertainment Corporation (503-570-1600) reported that its fourth quarter comparable store sales increased four percent. During the quarter, the company opened 141 new stores and ended the year operating 1,615 video stores in 44 states. www.reel.com

Michaels Stores, Inc. (972-409-1300) reported that total sales for the month of December increased 28% to $308.1 million from $241.3 million with comparable store sales up 13%. Year-to-date sales increased 19% to $1.748 billion from $1.464 billion during 1998. Comparable store sales for the year increased seven percent. The company operates 564 Michaels arts and crafts stores in 47 states, Canada and Puerto Rico, and 93 Aaron Brothers stores, located primarily on the West Coast. www.michaels.com

Consolidated Stores Corporation (614-278-6800) reported that its December sales increased 8.3% to $987.6 million from $911.9 million during December 1998. Quarterly sales increased eight percent to $1.535 billion from $1.422 billion and year-to-date sales increased 11.9% to $4.359 billion from $3.894 billion. Comparable stores sales increased 2.8% for the month, 2.6% for the quarter and 5.3% for the year to date periods. The company operates 2,584 stores in all 50 states, Puerto Rico and Guam consisting of 1,238 closeout stores operating as Odd Lots, Big Lots, Big Lots Furniture, Pic ‘N Save and Mac Frugal’s Bargains*Close-Outs and 1,346 toy and close-out toy stores operating as K*B Toys, K*B Toy Works and K*B Toy Outlet. Additionally, the company operates 113 temporary toy stores during December under the name of K*B Express.

Brown Shoe Company, Inc. (314-854-4000) reported that December sales in its Famous Footwear division increased 6.5% to $89.7 million from $84.2 million during December 1998. Comparable store sales fell 1.9%, but sales-per-square-foot for the chain increased 0.8%. Year-to-date sales for the 865-unit chain increased 7.9% to $876.5 million from $812.7 million with comparable store sales up 2.5%. December sales in its 349-unit Naturalizer division increased 5.4% to $13.7 million from $13 million last year. Comparable store sales declined 1.9%. Year-to-date sales fell 1.6% to $126.4 million from $128.5 million with comparable store sales down 4.5%. During December, the company opened five Famous Footwear stores in Frederick, MD; Elmira, NY; Orlando, FL; Las Vegas, NV and Grand Junction, CO.

Tuesday Morning Corporation (972-387-3562) reported that sales for 1999 increased 23.4% to $488.9 million from $396.1 million during 1998. Comparable store sales for the year increased 13.3%. The company operates the largest chain, currently 382 stores, of deep-discount closeout gift stores in North America. These stores open eight times a year for three-week "events" during the retail industry’s peak selling seasons.

Dress Barn (914-369-4800) reported that its December 1999 sales decreased one percent to $70.9 million from $71.3 million during December 1998. Comparable store sales fell five percent for the month. The company operates 677 stores in 43 states.

Service Merchandise Co. (615-660-6000) preliminary December sales results are expected to exceed $500 million and its gross profit margin exceeded forecasts from its business plan by more than $5 million. The company also expects to exceed its operating earnings target of $35 million for the nine months ended December 31, a $7 million gain over the previous year’s results. The company, which operates more than 220 stores, also filed a motion in U.S. Bankruptcy Court to extend its Chapter 11 plan through April 30, 2001. The company hopes to emerge from bankruptcy next year.

Liberty Mortgage Acceptance Corporation (916-568-0100) offers long term non-recourse financing on shopping centers and other income producing properties for transactions of $2 million to more than $100 million.

Alford, Marsh & Associates (803-939-0980) offers bridge loans up to 85% LTV. Loans can range from $500,000 to $15 million and are secured by first and second mortgages on income producing real property located nationwide. Interest rates are floating over prime and there are no prepayment penalties. All income property types will be considered including shopping centers, owner occupied properties and single tenant net-leased properties.

Capital Resource Group (630-629-0408) offers a financing program to acquire or refinance existing income-producing, commercial properties throughout North America. Requirements include a LTV of 85% to 95% on loans, dependent on type of property and a minimum DSC of 1.10x to 1.25x. Loan sizes should range from $5 million and up. Loan terms up to 20 years, self-amortizing; seven to ten year balloon is available.

Molina Capital Funding (718-390-1127), a commercial loan brokerage service, has mortgage funds available for the purchase and development of retail property.

George Smith Partners (310-557-8336) arranged $1.3 billion in real estate mortgages in 1999. The company funds permanent, bridge, construction and equity mortgages for retail developments.

Martin Capital Group (270-354-6394) started three new major financing programs to provide clients with a one-stop source for solutions to their commercial financing needs. The new programs include a commercial mortgage program called SLP for loans ranging from $500,000 to $20 million; a program for loans $5 million and below allowing summary appraisals and credit tenant lease financing for properties leased to a single, creditworthy client with a "BB" or better credit rating. The programs allow developers and investors to borrow $50 million or more for real estate projects.

Yaya’s Flame Broiled Chicken operates 18 locations in FL and MI. The fast food restaurants, specializing in chicken dishes, occupy spaces of 2,500 sq.ft. to 3,000 sq.ft. in freestanding facilities and strip centers. Plans call for three openings in the coming 18 months. Expansion will take place in AZ, FL, MI, NC, OH, SC or TX. Preferred demographics include a population of 10,000 within one mile earning $40,000 as the average income. Leases running 20 years are typical and the company, which is franchising, prefers a vanilla shell.

For more information, contact John Chinonis, Yaya’s Flame Broiled Chicken, 521 South Dort Highway, Flint, MI 48503-2848; 810-235-6550, Fax 235-5210.

Sanray Corporation does business as Perkins Family Restaurant at 30 locations in NY, OH and PA. The family restaurants occupy spaces of 5,000 sq.ft. to 12,000 sq.ft. in downtown store fronts, freestanding facilities, regional malls and strip centers. Plans call for as many as three openings in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of 50,000 within four to five miles earning $20,000 as the average income. The company prefers to purchase its locations.

For more information, contact Thomas Gray, Sanray Corporation, 231 Chestnut Street, Meadville, PA 16335; 814-724-4880, Fax 337-2630.

Schiappa Development trades as Taco Bell at 14 locations in OH and PA. The Mexican fast food restaurants occupy spaces of 2,500 sq.ft. in freestanding facilities. Plans call for as many as 10 openings in the coming 18 months. Expansion will take place in MD, NC, OH, PA, SC, VA and WV. Preferred demographics include a population of 50,000 within 10 miles earning $30,000 as the average income. Leases running 20 years are typical.

For more information, contact Michael Schiappa, Schiappa Development, 200 South 4th Street, Stubenville, OH 43952; 740-284-1470, Fax 284-1477, e-mail mpshiappa@prodigy.net.

Buffets, Inc. trades as Old Country Buffet and Hometown Buffet at 400 locations nationwide. The restaurants, serving buffet-style meals, occupy spaces of 8,500 sq.ft. with a land area of two acres in freestanding facilities, power and strip centers. Plans call for 30 openings in the next 18 months. Expansion will take place in FL in addition to the Mid-Atlantic, Midstates and Western regions. Preferred demographics include a population of 150,000 within five miles earning at least $50,000 as the average income. The company prefers projects anchored by a grocery store or discounter. A 10-year lease is the norm.

For more information, contact Brad McNaught, Buffets, Inc. 10260 Viking Drive, Suite 100, Eden Prairie, MN 55344; 612-942-9760, Fax 947-0118.

The Goldstein Group represents Atlanta Bread Company with its expansion in NJ. The chain operates 68 locations in AL, AR, FL, GA, IL, IN, KY, NY, NC, OH, OK, PA, SC, TN, TX, VA and WI. The restaurants, serving fresh-made bread, pot pies, quiche and designer pizza, occupy spaces of 4,000 sq.ft. in freestanding buildings, strip and specialty centers. Preferred co-tenants include theaters, regional superstores and bookstores. Plans call for 10 openings in the next 18 months, with expansion opportunities sought throughout NJ, however the chain also is expanding by 50 units nationwide. Preferred demographics include a population of 45,000 in a three-mile radius earning at least $65,000 as the average income and a daytime population of 25,000 within three miles. The company is franchising and the concept draws a middle to upper income customer. Leases of 10 years and a vanilla shell are typical.

For more information, contact Don Solino, The Goldstein Group, 2100 Route 208, Fair Lawn, NJ 07410; 201-703-9700, Fax 703-9678.

Malley Candies, Inc. trades as Malley’s Chocolates & Ice Cream Parlor at 12 locations in OH. The candy stores, selling boxed chocolates with ice cream parlors serving sodas and sundaes, occupy spaces of 3,500 sq.ft. in strip centers and freestanding facilities. Growth opportunities are sought in the existing markets.

For more information, contact Adele Ryan Malley, Malley Candies, Inc., 13400 Brookpark Road, Cleveland, OH 44135-5145; 216-362-8700, Fax 265-2989, home page www.malleys.com.

Best Bagels in Town operates 11 locations in NC, NY, SC and TN. The bagel bakeries and restaurants occupy spaces of 1,500 sq.ft. in freestanding buildings and strip centers. Plans call for 12 openings in the coming 18 months. Expansion will take place in the Northeastern region. Preferred demographics include a population of 50,000 within a two-mile radius earning approximately $70,000 as the average income. The company is franchising and operates only one company-owned store. Average leases are for 10 years.

For more information, contact Florio Squatriglia, Best Bagels in Town, 480-19 Patchogue Holbrook, Holbrook, NY 11741; 516-472-4104, Fax 472-4105.

Southdown Corporation trades as Burger King at 45 locations in TN and IN. The fast food restaurants occupy spaces of 3,000 sq.ft. in freestanding buildings, regional malls and power centers. Freestanding units require a land area of 35,000 sq.ft. Plans call for as many as eight openings in the coming 18 months in Fort Meyers, FL and the central TN areas. Preferred demographics include a population of 25,000 within a five miles earning $25,000 as the average income. Leases of 20 years are typical.

For further information, contact Rhett Smith, Southdown Corporation, 500 Wilson Pike Circle, #100, Brentwood, TN 37027-5238; 615-371-8150, Fax 371-8383.

Kirtac Inc. does business as Taco Bell and Kentucky Fried Chicken at 21 locations throughout IN. The Mexican and chicken fast food restaurants occupy spaces of 2,500 sq.ft. in freestanding buildings. Plans include opening two stores in the next 18 months in the existing market. Preferred demographics include population of 20,000 in a two-mile radius with incomes averaging $28,000. The company looks to purchase its sites.

For further information, contact Lee Garvin, Kirtac Inc., 111 Carey Drive, Noblesville, IN 46060; 317-773-7855; Fax 773-7869, e-mail leegarvin@aol.com.

dba Boot Town

Harold Pink

PO Box 59489

Dallas, TX 75229

972-788-1301, Fax 788-4897

The 26-unit chain operates locations in TX. The stores, selling Western apparel and boots, occupy spaces of at least 12,000 sq.ft. in freestanding facilities, power and strip centers. Growth opportunities are sought in the existing market. Preferred demographics include a population of 100,000 within five miles earning at least $45,000 as the average income. Leases running 10 years are typical and the company prefers vanilla shell deals.

dba Daffy’s New York

Richard Kramer

350 Secaucus Road

Secaucus, NJ 07094

201-902-0800, Fax 902-9016

The 15-unit chain operates locations in NJ, NY, PA and VA. The stores, selling better and designer apparel at off price-points, occupy spaces of 32,000 sq.ft. in downtown store fronts, freestanding facilities and strip centers. Growth opportunities are sought in the existing markets. Leases running 15 years, with options, are typical.

dba Coplon’s, Fine’s, Johnston of FL

H.B. Greenberg

1190 Third Street South

Naples, FL 33940

941-262-7598, Fax 262-5382

The nine-unit chain operates locations in FL, GA, NC, SC and VA. The women’s apparel stores occupy spaces of 3,000 sq.ft. to 5,000 sq.ft. in freestanding facilities and specialty centers. Preferred anchors include Lord & Taylor. Growth opportunities are sought in the Southeastern region. Leases running five years are typical. The stores cater to an affluent customer and carry designer RTW and couture fashions. Barneys, Bergdorf’s and Saks are cited as competition.

dba Shinder’s Bookstore, Readmore

Joel Shinder

917 5th Avenue South

Minneapolis, MN 55404

612-333-7002, Fax 333-7181

The 13-unit chain operates locations in MN. The stores, selling books, comics, newspapers and baseball cards, occupy spaces up to 5,000 sq.ft. in downtown store fronts and strip centers. Growth opportunities are sought in the existing market. Leases running five years are typical.

dba Sunoco

Mike DeGennaro

1028 Stelton Road

Piscataway, NJ 08854

732-981-0052, Fax 981-0928

The 4,000+-unit chain operates locations throughout the Midwestern and Northeastern regions. The convenience stores, which also sell gasoline, occupy spaces of 3,200 sq.ft. in freestanding facilities on at least one acre of land at high traffic intersections. Plans call for at least 30 openings in the coming 18 months. Expansion will take place from ME to MD. The company will also consider existing gasoline/convenience store locations.

dba Grub Mart

Brian Young

PO Box 328

Piedmont, AL 36272

256-447-9087, Fax 447-9089

The 20-unit chain operates locations in AL. The convenience stores occupy spaces of 3,000 sq.ft. in freestanding facilities and strip centers. Plans call for as many as six openings in the coming 18 months. Expansion will take place in AL and northwestern GA.

dba Care Pharmacy

Francis J. Cassidy

98 South Main Street

Rochester, NH 03867

603-335-2685, Fax 335-2690

The five-unit chain operates locations in NH. The drug stores occupy spaces of 9,000 sq.ft. in freestanding facilities. Growth opportunities are sought throughout New England. Leases running 10 to 20 years are typical.

dba Rite Aid

Philip Markovitz

30 Hunter Lane

Camp Hill, PA 17011-2404

717-761-2633, Fax 975-5907

The 3,800-unit chain operates locations in 31 states. The drug stores, which also sell cosmetics, fragrances, convenience foods, greeting cards and offer mailing services and one hour photo processing, occupy spaces of 12,000 sq.ft. in downtown store fronts and freestanding facilities with drive thrus. Growth opportunities are sought in the existing markets.

dba Walgreens

Jerry Rubin (west), Tom Connolly (east)

200 Wilmot Road

Deerfield, IL 60015

847-940-2500, Fax 914-3078

The 2,600+-unit chain operates locations nationwide and in Puerto Rico. The drug stores occupy spaces of 15,000 sq.ft. in freestanding facilities. Plans call for 350 openings in the coming 18 months. Expansion will take place nationwide.

dba Sony Theaters, Loews Theaters, Cineplex Odeon, Star, Magic Johnson Theaters

Kenneth Benjamin

711 Fifth Avenue

New York, NY 10022

212-833-6160, Fax 833-6267

The 400+-unit chain operates locations nationwide. The movie theaters occupy spaces of 70,000 sq.ft. to 110,000 sq.ft. in downtown store fronts, freestanding facilities, power centers and regional malls. Plans call for as many as 18 openings in the coming 18 months. Expansion will take place nationwide. Preferred demographics include a population of at least 200,000 within five miles earning $50,000 as the average income. Leases running 15 to 20 years, with options, are typical.

Tess Alvey

c/o Alvey Commercial Real Estate

17842 Irvine Boulevard, Suite 200

Tustin, CA 92780

714-730-0800, Fax 838-3396

home page: www.cashplusinc.com

The 60+-unit chain operates locations in CA, FL, MD, MI, MN, NV, TX, WA and Canada. The stores, offering check cashing and other financial services, occupy spaces of 1,000 sq.ft. to 1,800 sq.ft. in downtown store fronts, freestanding facilities and anchored strip centers. Plans call for 60 openings in the coming 18 months. Expansion will take place nationwide. Preferred demographics include a population of 15,000 within one mile earning $40,000 as the average income. Leases running five years, with two options of five years each, are typical and the company prefers a vanilla shell. The company is franchising and averages sales of $200 psf.

dba Gold’s Gym

Edward Connors

358 Hampton Drive

Venice, CA 90291

310-392-3005, Fax 392-4680

The 475-unit chain operates locations worldwide. The health clubs occupy spaces of at least 15,000 sq.ft. in freestanding facilities. Plans call for 100 openings in the coming 18 months. Expansion will take place worldwide. Leases running at least five years, with options, are typical and the company is franchising.

dba Bills Dollar Store

John Clark

PO Box 6019

Ridgeland, MS 39155-6019

601-981-7171, Fax 899-4609

The 500-unit chain operates locations in AL, FL, GA, KS, KY, LA, MS, MO, NC, OK, SC, TN and TX. The discount general merchandise stores occupy spaces of 8,000 sq.ft. to 10,000 sq.ft. in freestanding facilities and strip centers. Plans call for 140 openings in the coming 18 months. Expansion will take place in the existing markets. Preferred demographics include a population of 7,000 within one mile earning $40,000 as the average income. Leases running three to five years are typical.

dba Union Discount Dollar Stores

Muhammed Bhatti

901 East 10th Avenue

Hialeah, FL 33010

305-883-7884, Fax 883-7884

The five-unit chain operates locations in FL. The discount general merchandise stores occupy spaces of 6,000 sq.ft. in strip centers. Growth opportunities are sought in the existing market.

Rawson Haverty, Felix DeGolian

866 West Peachtree Street, NW

Atlanta, GA 30308

404-881-1911, Fax 870-9458

The 100+-unit chain operates locations in AL, AR, FL, GA, KS, KY, LA, MS, MO, NC, SC, TN, TX and VA. The furniture stores occupy spaces of 30,000 sq.ft. to 50,000 sq.ft. in freestanding facilities, power and specialty centers. Growth opportunities are sought in the existing markets. The company prefers to purchase its locations.

dba Builders Discount Center

Glenn Perry

1261 South Wesleyan Boulevard

Rocky Mount, NC 27803-4504

252-442-5197, Fax 442-8059

The eight-unit chain operates locations in NC and VA. The building supply stores occupy spaces of at least 60,000 sq.ft. in freestanding facilities. Plans call for as many as three openings in the coming 18 months. Expansion will take place in the existing markets. Leases running 10 years are typical.

Bob Morgan

6443 West Pierson Road

Flushing, MI 48433

810-659-2291, Fax 659-5019

The 24-unit chain operates locations in GA and MI. The stores, selling hardware, plumbing, electrical and lawn and garden equipment, occupy spaces of 8,000 sq.ft. to 10,000 sq.ft. in freestanding facilities. Growth opportunities are sought in GA and MI. The company prefers to purchase its locations.

Richard Greiner, Jr.

2077 East 30th Street

Cleveland, OH 44115

216-361-6811

The 11-unit chain operates locations in OH. The camera stores occupy spaces of 1,200 sq.ft. to 4,000 sq.ft. in strip centers. Growth opportunities are sought in the existing market.

dba Kinko’s

Mike Dobrota

PO Box 8000

Ventura, CA 93002

805-652-4000, Fax 477-5904

The 1,000+-unit chain operates locations worldwide. The stores, offering, copying, printing, fax, computer and other business services, occupy spaces of 4,000 sq.ft. to 12,000 sq.ft. in freestanding facilities and end caps of strip centers. Plans call for 120 openings in the coming 18 months. Expansion will take place worldwide. Leases running five to ten years are typical.

dba The Athlete’s Foot

Cathey Williams, Jim Bainest (franchise real estate)

1950 Vaughn Road

Kennesaw, GA 30144

770-514-4500, Fax 514-4903

The 700-unit chain operates locations throughout North America. The stores, selling athletic footwear and apparel, occupy spaces of 1,500 sq.ft. to 2,500 sq.ft. or 4,000 sq.ft. to 6,000 sq.ft. in regional malls, power and strip centers. Plans call for 120 openings in the coming 18 months, of which 40 units will be company-owned stores. Expansion will take place nationwide. Preferred demographics include a population of 50,000 within 10 miles earning $50,000 as the average income. Leases running 10 years are typical and the company is franchising. The company prefers Old Navy, Gap, Bed Bath & Beyond and Target as anchors, while citing Foot Locker as competition.

James Wellehan, Don Stowell

PO Box 1317

Lewiston, ME 04243

207-784-6595, Fax 784-9650

e-mail: lwshoes@gwi.net

home page: www.lwshoes.com

The five-unit chain operates locations in ME. The stores, selling better grade branded family footwear, occupy spaces of 4,000 sq.ft. to 6,000 sq.ft. in downtown store fronts, freestanding facilities, regional malls, power and strip centers. Plans call for as many as two openings in the coming 18 months. Expansion will take place in ME and Canada. Preferred demographics include a population of 50,000 within 10 miles earning $38,000 as the average income. Leases running five years, with a five-year option, are typical.

dba American Sign Shops

Jeff Fox

3803-B Computer Drive, Suite #200

Raleigh, NC 27609

919-787-1557, Fax 787-3830

The 46-unit chain operates locations East of the Rocky Mountains. The stores, selling computer generated vinyl signs, occupy spaces of 1,600 sq.ft. to 2,000 sq.ft. in strip centers. Plans call for 10 openings in the coming 18 months. Expansion will take place in the Eastern, Midwestern and Southern regions. Leases running five years, with a five-year option, are typical and the company is franchising.

dba Wegmans Food Markets

Paul Gilbert

1500 Brooks Avenue, Box 844

Rochester, NY 14692-0844

716-328-2550, Fax 464-4691

e-mail: pdgilbert@wegmans.com

home page: www.wegmans.com

The 59-unit chain operates locations in NJ, NY and PA. The supermarkets occupy spaces of 100,000 sq.ft. to 120,000 sq.ft. in power and strip centers. Plans call for as many as five openings annually. Expansion will take place in the existing markets. Preferred demographics include a population of 50,000 within three miles earning $75,000 as the average income. Leases running 20 years, with six options of five years each, are typical.

Weston, Benshoof, Rochefort, Rubalcava & MacCuish LLP (213-623-2322) announce that Pamela J. Privett has joined the law firm as a partner in its land development group. Formerly senior vice president, general counsel and secretary for LTC Properties, Inc., a publicly traded REIT in the healthcare industry, Privett provided in-house representation not only to LTC, but also to a variety of related corporations and ventures formed by LTC.

Charming Shoppes, Inc. (215-245-9100) announces that Jonathan Graub has been promoted to senior vice president, with responsibility for real estate, construction, purchasing, facilities and maintenance. Graub joined Charming Shoppes in 1981 and has served as vice president of real estate since 1989.

Divaris Real Estate, Inc. (757-497-2113) announces that Douglas Davis has joined the company as a retail leasing agent. In his new position, Davis will be assisting in the servicing and representation of retail clients throughout the Richmond and central VA market areas.

Robinson Sigma (757-490-3300) announces that David Root has joined the company as a retail and sales leasing agent. Prior to joining Robinson Sigma, Root worked for Sweet City Supply, a national distributor of candy and candy displays where he managed their mall operations, marketed bulk candy programs and headed the national installations division.

Robert K. Futterman (212-599-3700) announces the appointment of Joshua Strauss as an associate. Prior to joining RKF, Strauss spent three years with Insignia/ESG as a retail leasing specialist. In the past, Strauss has represented retailers such as Crate & Barrel, Ethan Allen, Helena Rubenstein, Ghost and Johnston & Murphy. www.rkfutterman.com

BL Companies (203-630-1406) announces that Mohammad Sadrolashrafi has joined the company as a project consultant. Prior to joining BL Companies, Sadrolashrafi spent the last nine years working closely with Wal*Mart Stores and was involved in nearly 50 development projects nationwide. In his new position, Sadrolashrafi will work to ensure that each BL Companies’ office has a thorough knowledge and understanding of the Wal*Mart development program.

Famous Dave’s of America, Inc. (612-557-5798) announces that David Erickson has joined the company as director of business development. In his new position, Erickson will be develop Famous Dave’s franchising program in addition to researching business opportunities, locate venues for increased distribution, and establish viable new outlets for Famous Dave’s products, including stadiums, parks, entertainment venues, beaches and malls. Erickson joins Famous Dave’s from Rainforest Cafe, Inc., where he held a similar position as director of real estate. he oversaw new store development and assisted with the development of a franchising system.

Murray Hill Properties (212-688-8599) promoted David A. Sturner to partner, in charge of the company’s construction management division. Sturner has been with Murray Hill Properties since 1994, serving as a property manager.

Kranzco Realty Trust (610-941-9292) leased 2,500 sq.ft. to The Coffee Beanery at Barn Plaza Shopping Center, a 211,000 sq.ft. project anchored by Acme, Marshalls, Family Toy Warehouse and, opening this fall, a 14-plex Regal Cinema in Doylestown, PA.

Stiles Corporation (954-776-9300) leased 1,720 sq.ft. to Sally Beauty Company, Inc. at Daniels Crossing in Ft. Myers, FL; 30,187 sq.ft. to Ross Stores at Boulevard Square in Pembroke Pines, FL; 5,000 sq.ft. to Drapers & Damon’s at North Palm Marketplace, North Palm Beach, FL.

The Hutensky Group (860-527-2222) leased 15,550 sq.ft. in-line to Petco Animal Supplies, Inc. and 3,300 sq.ft. on an out-parcel to Blinds To Go at Waverly Plaza, anchored by Sears Hardware, Genovese Drugs and Pep Boys in Patchogue, Long Island, NY.

The Schultz Organization (732-855-0001) leased 87,000 sq.ft. to Ames Department Stores at a former 111,600 sq.ft. Caldor location in Neptune, NJ. Ames will co-anchor with Shop Rite.

Pace Properties (314-968-9898) leased 2,374 sq.ft. to Crown Optical at the Kmart Center in Fairview Heights, IL.

Goldschmidt & Associates (914-723-1616) leased 11,500 sq.ft. to CVS at a site directly across from Home Depot in New Rochelle, NY.

The Cafaro Company (330-747-2661) signed leases with Christopher & Banks at the following sites: 2,700 sq.ft. at South Hill Mall in Puyallup, WA; 2,856 sq.ft. at Southland Mall in Marion, OH; 3,556 sq.ft. at Sandusky Mall in Sandusky, OH; 3,472 sq.ft. at Kentucky Oaks in Paducah, KY; and 3,567 sq.ft. to Aeropostale at Ohio Valley Mall in St. Clairsville, OH.

Bradco Cos. (760-951-5111) and Korek Land Co. Inc. (818-906-0462) have been selected by Westland Commercial Inc. to market 40 acres of land zoned for retail on Bear Valley Road in Victorville, CA. Known as Victor Valley Promenade, the 350,000 sq.ft. project is divided into 12 parcels ranging from two to sixteen acres. The parcels will be offered individually or in combinations, depending on the nature of intended tenants.

Bosshardt Realty Services, Inc. (352-371-6100) has the exclusive listing to sell a 22,500 sq.ft. building pad at I-75 and SR 26 in Gainesville, FL. The site is turnkey with all infrastructure in place. It adjoins an existing Sports Authority store and is across the street from a one million sq.ft. regional mall. Demographics include a three-mile population of 45,000 earning more than $50,000 annually. The asking price is $1.4 million.

Katz & Associates Corporation (914-735-6666) has been named the exclusive representative for Rave Girl, a division of G+G Retail, Inc. Rave Girl is a new concept in "tween" apparel and accessories targeted at girls, ages 7-13. After highly successful initial openings, Rave Girl is now ready to open stores nationwide. Potential strip centers must be highly trafficked in middle and upper middle income areas. Store sizes will range from 1,700 sq.ft. to 2,600 sq.ft. with minimum frontage of 25 feet required. As many as 15 Rave Girl stores are planned for this year, and as many as 20 thereafter.

Fox Realty (248-332-5300) was recently awarded the leasing and managing contract for Thompson Shopping Center in Flint, MI. The 63,000 sq.ft. project is anchored by Family Dollar, Plaza Foods Super Market, Rent-A-Center and Radio Shack. The company has also been awarded the leasing and managing contract for a 9.83 acre site at the intersection of Eight Mile Road and Northland Drive in Southfield, MI. A zoning change is pending and space is available for lease.

TKO Real Estate Advisory Group (609-587-6200) and RD Management Corp. (212-265-6600) have been named the exclusive leasing and managing agents for West Shore Plaza, located at the intersection of Route 440 and Victory Boulevard, in Staten Island, NY. The 100,000 sq.ft. project is anchored by United Artists Theaters.

Gander Mountain (612-830-8700) plans to close its store in Plymouth, MN next month. The closing of the store will leave the company with 11 stores in MN, eight of them in the Minneapolis-St. Paul market. The company plans to open new 31,000 sq.ft. stores in Kalamazoo and Lansing, MI during Spring. The new locations will give the company 32 stores in MN, WI, MI, IN and OH.

Track ‘n Trail (916-933-4525), which at the end of 1999 was operating 199 stores in 35 states, plans to close 31 unprofitable Track ‘n Trail stores, four unprofitable Overland Trading stores and its entire seven-unit Eagles Nest division as part of a restructuring. The stores that are slated for closing are operating significantly below the company’s average store profits.

Sealfons (201-652-2100) plans to close its 45,000 sq.ft. apparel store in Ridgewood, NJ this month. The store, which opened in 1970, is being closed because the retail environment for independent merchants has been difficult. The closing will leave the company with four stores in Caldwell, Summit, Shrewsbury and Westfield. At one time, the store was the company’s largest and highest grossing outlet.

Jacksonville- 103rd Street Family Center is anchored by Wal*Mart, Barnhill’s Homestyle Buffet and Cato. The 159,710 sq.ft. project has space available for lease. Demographics include a three-mile population of 71,314 earning $41,694 as the average household income. In Melbourne- Ocean Springs Village is anchored by Wal*Mart and Winn-Dixie. The 200,292 sq.ft. project has spaces from 1,125 sq.ft. to 3,200 sq.ft. available for lease. Demographics include a three-mile population of 36,725 earning $56,522 as the average household income. In Miami- 8th Street Plaza is anchored by Eckerd Drugs and McDonald’s. The 28,808 sq.ft. project has space available for lease. Demographics include a one-mile population of 43,524 earning $36,482 as the average household income. In Orange City- Market Place Shopping Center is anchored by Kmart, UA Theater, Walgreens and Christmas Collection. The 257,394 sq.ft. project has spaces from 618 sq.ft. to 45,972 sq.ft. available for lease. Demographics include a five-mile population of 61,396 earning $27,664 as the average household income. In Vero Beach- Ryanwood Square is anchored by Publix and Books-A-Million. The 108,382 sq.ft. project has spaces from 1,200 sq.ft. to 13,000 sq.ft. available for lease. Demographics include a three-mile population of 26,911 earning $41,883 as the average household income.

For details, contact Sandy Dirkse of Baita Realty Investment Management, LLC at (904-279-9305), Fax (279-9307).

Burbank- A 70,000 sq.ft. space with a garden area is available for lease at Burbank Town Center, which is anchored by Kohl’s, Michael’s, Best Buy and Frank’s Nursery and Crafts. Demographics include a three-mile population of 171,646 earning $54,429 as the average household income. The site is located directly across from Ford City Mall.

For details, contact John Smith of Commercial Net Lease Realty Services, Inc. at (407-650-3655).

Jacksonville- Lincoln Square Center is anchored by JC Penney, Stage Stores and Walgreen’s. The 210,000 sq.ft. project has spaces of 1,000 sq.ft., 1,600 sq.ft., 5,500 sq.ft. and 10,500 sq.ft. available for lease. Demographics include a five-mile population of 26,500 earning $42,500 as the average income. Retailers in the area include Kmart, Wal*Mart, ShopKo and Super Valu.

For details, contact Rich Ottlinger of AAMS Corp. at (800-544-8585), Fax (847-674-8157).

Hagerstown- Valley Plaza is anchored by Kmart and McDonald’s. The 185,000 sq.ft. project has an anchor position of 42,000 sq.ft. available for lease. The site is located across from Valley Mall.

For details, contact Daniel Weinreb of Paragon Realty Group LLC at (203-254-7077), Fax (254-7081).

Flint- A 9,200 sq.ft. former Rite Aid fronting Martin Luther King Boulevard is available for lease. In Madison Heights- An 850 sq.ft. space is available for lease at the 10,000 sq.ft. Mulberry Plaza. In Novi- A 9.48 acre parcel of land is available for lease at the intersection of Grand River Avenue and Meadowbrook Road. In Pontiac- A 98 x 120 foot outparcel of a Home Depot is available for lease. The site is located at the intersection of Orchard Lake Road and Old Telegraph. In Rochester Hills- Two spaces of 1,440 sq.ft. each are available for lease at the 30,000 sq.ft. Auburn Place.

For details, contact Joe Atto of Fox Realty at (248-332-5300), Fax (332-5678).

Carmel- Carmel Shop Rite Center is anchored by ShopRite, Eckerd Drugs, Gold’s Gym and Burger King. The 128,000 sq.ft. project has spaces from 2,000 sq.ft. to 3,058 sq.ft. available for lease. Demographics include a five-mile population of 42,417 earning $71,779 as the average household income. In Farmingdale- Bi County Shopping Center is anchored by King Kullen, Genovese, Blockbuster Video and Kay Bee Toys. The 70,000 sq.ft. project has spaces from 1,105 sq.ft. to 3,450 sq.ft. available for lease. Demographics include a three-mile population of 110,836 earning $56,096 as the average household income. In Somers- Towne Centre at Somers is anchored by Gristedes Supermarket and a U.S. Post Office. The 80,000 sq.ft. project has spaces from 800 sq.ft. to 2,100 sq.ft. available for lease. Demographics include a three-mile population of 20,000 earning $88,063 as the average household income.

For details, contact Linda Imhof of Urstadt Biddle Properties Inc. at (203-863-8202).

Stow- Stow Community Center is anchored by Target, Giant Eagle, Kohl’s and OfficeMax. The 477,732 sq.ft. project has spaces of 36,000 sq.ft., 4,696 sq.ft. and 3,000 sq.ft., as well as outparcels of one acre and 1.04 acres, available for lease. Demographics include a five-mile population of 142,989 earning $57,120 as the average household income.

For details, contact Developers Diversified Realty Corporation at (216-755-5500), Fax (755-1500), home page (www.ddrc.com).

Tiffin- Tiffin Plaza has a 61,600 sq.ft. space available for lease. Expansion areas are also available for lease. The site is located adjacent to Wal*Mart. Demographics include a five-mile population of 25,769 earning $38,893 as the average household income.

For details, contact National Realty & Development Corp. at (914-694-4444), Fax (694-5448).

Chambersburg- Southgate Shopping Center is anchored by Ames Department Store, CVS and Sherwin Williams. The 255,988 sq.ft. project has spaces from 1,200 sq.ft. to 55,000 sq.ft. available for lease. Demographics include a five-mile population of 35,303 earning $44,542 as the average household income.

For details, contact Joe Del Balso of Paran Management Company at (800-888-5663), home page (www.paranmgt.com).

Philadelphia- Blue Grass Plaza is anchored by Shop N Bag, Eckerd Drug Store and a liquor store. The 80,000 sq.ft. project has spaces of 1,400 sq.ft., 1,600 sq.ft. and 4,000 sq.ft. available for lease. Demographics include a three-mile population of 207,487 earning $47,839 as the average income.

For details, contact Daniel Leider of Herbert Yentis & Co. at (215-878-7300), Fax (877-0955).

Racine- A 60,600 sq.ft. space is available for lease fronting South Green Bay Road. The site is located near Regency Mall, Best Buy, Target, Pier 1, OfficeMax and Toys ‘R Us. Demographics include a three-mile population of 61,595 earning $51,018 as the average household income.

For details, contact Paul Bayer of Commercial Net Lease Realty Services, Inc. at (407-650-3697).