Shopping Center Digest 2009 ICSC Deal Making Issue

ICSC DEAL MAKING ISSUE "The Locations Newsletter"

Box 837 Nyack, NY 10960

Published Twice Each Month

Murray Shor - Editor & Publisher

Vol. 38, Nos. 17 & 18

(845) 348-7000, (800) 211-6858

$349 per year

September 14, 2009

NEW AND EXPANDING CENTERS OVER 501,000 SQ. FT. (Unless mentioned otherwise, all are enclosed, air-conditioned malls)

CALIFORNIA Escondido: Renovations have begun on 1.22 million sq. ft. Westfield North County on 83 acres at I-15 and Via Rancho Pkwy in San Diego County (See SCD, P. J227); center has 300,000 sq. ft. of vacant space and developer is negotiating with a supermarket to replace former Robinson-May; project

to also include the addition of more restaurants, a housewares store and theaters; in addition, H&M is re-

didja hear...???

San Diego, CA-based Charlotte Russe announced it would be acquired

Strolling the AGORA

By Murray Shor As long as this shopping center/ retail chain industry has been around— at least for the last 40-some years— the leverage at the negotiating table has been overwhelmingly with the ownerdevelopers. That is until this massive recession hit, new development came almost to a standstill, and vacancies from the smallest strip to the biggest mall began to go through the roof (pun intended).

Tenants, and it’s not just the discount/dollar stores, the fast food and restaurant chains, the sporting goods operators or electronics retailers still in business, or the teen-oriented spe-

TABLE OF CONTENTS New and Expanding Shopping Centers Over 501,000 Sq. Ft. .............................

Strolling the Agora ...................................

Didja Hear??? ............................................

Financial/Sales Results ...........................

New And Expanding Shopping Centers 201,000-500,000 Sq. Ft. ........................

New And Expanding Shopping Centers Up to 200,000 Sq. Ft. ............................

Upscale, Specialty, Urban Mixed-Use ....

Centers With Lease Space Available ....................................

Retailers Seeking Space ..........................

Classifieds .................................................

J469 J469 J469 J476 J478 J482 J484 J486 J487 J490

modeling some vacant space and is set to open later this year; anchors (continued on P. J472)

cialty chains that are taking advantage of this new-found power. It has spilled (continued)

by Advent International for $380 million, substantially more than the amount offered last year by other investment firms; the women's apparel chain operates about 500 stores nationwide...The Sembler Company, has recently hired Stevens E. Tombrink in the newly-created posi(continued on P. J474)

Subscribers May Join New Industry Group A new industry group dealing with leasing and development in shopping centers has been formed on LinkedIn for subscribers to Shopping Center Digest, announced Editor-Publisher Murray Shor.

“The purpose of the group is to provide another way for industry dealmakers to network, share information, and sound off on subjects they feel strongly about. This is the foundation of several recent columns of Strolling the Agora in our twice-monthly newsletter,” he said.

Invitations were emailed to all subscribers to Shopping Center Digest. “However, many subscribers,” said Shor, “have not given us their email addresses and cannot receive the invitation.

“If you are a subscriber and have not received an invitation, and would like to,” he said, “please email me at mshor@shopping

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centers.com or write me with your email address at Shopping Center Digest, P.O. Box 837, Nyack, NY 10960 so we can process the request.”

RETAILERS SEEKING SPACE Page J487-489 • 7-Eleven • Abercrombie & Fitch, Hollister, Ruehl, and Gilly Hicks • Ann Taylor and Ann Taylor LOFT • Applebee's Neighborhood Bar & Grill • Bears & Wishes • BJ's Wholesale Club • Casey's General Stores • Chick-fil-A • The Children's Place • Dick's Sporting Goods and Golf Galaxy • DSW Shoe Warehouse • Five Below • Food Lion • Forever 21 • Fresh & Easy Neighborhood Markets • Henri Bendel • I.O. Metro • JCPenney • Leons Furniture • Nestle Toll-House Cafe • Nordstrom and Nordstrom Rack • Saks Fifth Ave and Off Fifth • Swiss Chalet • Target and SuperTarget

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J469

Strolling the AGORA

(continued) over to regional operators, Mom and Pops, temporary retailers, innovative merchants wanting to test new concepts and markets, and even those not normally interested in locating in a shopping center but lured by rockbottom rents, central location, and numerous other reasons and concessions. Franchising is a big source of potential retailers as numerous operators eye entrepreneurs as likely partners due to their access to off-shore financial markets.

Oh sure, some may contend the landlords never had overwhelming muscle when it came to striking a deal, because they “really needed that anchor, or that dominant retailer, or that high-prestige fashion plate” to make the project happen. And there’s a lot to be said for the need by high-profile merchants to have some say in how the center or mall is marketed, or what other retailers would be permitted in, and what prime locations they would have.

Heavyweights Of The Past This is behind the retail heavyweights of the past, such as Sears or May Department Stores or DaytonHudson for malls, or Giant Foods, Acme Stores, Safeway Stores or Gamble-Skogmo for grocery-anchored strips, establishing their own development divisions. Or why discounters like Wal-Mart or Kmart designated operators in key markets to be their prime developers.It was all done to protect their substantial financial investment and to be able to control their destiny within the shopping center.

These were the exceptions. In most instances, the landlord set the rules and Triple-A or national tenants got the best deals, the earlier they signed the better; they were necessary for the developer to hit that 70% of signed leases to obtain financing, but they still had little, real bargaining power.

And the other retailers provided most of the profit for the project. With the surge to the formation of REITs and the creation of behemoth landlords, the balance was tipped even more to the side of the owner-developers.

Now, pointing to the depressed economy and declining retail sales and

profits that have caused many competitors to close up, the remaining merchants still in business and looking for locations are relishing this change of fortune. A cliché: “In the country of the blind, the one-eyed man is king.” A viable tenant who used to open 50 stores annually and is now looking only for 20 when others aren’t ‘open to buy’ has a lot of muscle.

So rent reductions, and fixture allowances, and “finished stores” and dozens of other demands that a few years ago would cause a landlord to ask for a sanity hearing, are now part of the opening gambit in negotiations.

How The Landlords React So, how is the landlord, more used to a “take it or leave it” approach reacting to this? How is he and his leasing representatives working to turn the tide and make those deals that will keep the tenant list filled and the shopping center viable?

Among the first steps is getting existing tenants to renew, which both sides are agreeable to, with rent reductions, tenant improvements, reducing operating hours, co-tenancy clauses, and numerous other concessions and details being hammered out.

With many empty big-box stores and prime locations going dark, landlords are eager to fill the gaps with almost any tenant offering a basic rent.

This is why many of these locations are going to “pop up” stores, temporary and specialty tenants, salvage grocers, kiosk-oriented tenants, retailers looking to test new concepts and new markets, deals with permanent chains offering very short-term leases of two or three years, permitting “kickouts,” percentage rents, finished stores, etc., etc.

An interesting trend is that many discounters, home improvement chains, ethnic-oriented merchants, even dollar stores, are willing to take a risk on major downtown locations in large cities they usually ignored, cities like New York, Chicago, Miami, Los Angeles, Portland, Dallas.

In essence, on the table are any concessions a viable tenant is willing to ask for. And many times, to their surprise, they are being accepted by

©SHOPPING CENTER DIGEST, PO Box 837, Nyack, NY 10960

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landlords.

They are eager add medical and dental offices, schools, libraries, municipal agencies, to try new concepts, such as water slides or indoor go kart tracks in place of empty “canyons,” nearly-new shops, pawn shops, and they may even look the other way when merchandise edges out into the common area—unless there’s a strong complaint from a retail neighbor.

Hoping For A Turnaround Many in the shopping center/retail community are optimistic that there will be a turnaround next year, with the most cautious not expecting it until the second half of 2010. As reasons for their optimism, they point to more positive financial results from key retailers, polls showing a rise in consumer confidence, improvements in numbers from Wall Street, drops in the increases of jobs lost, rising home prices in some areas around the country, and the like.

Though back-to-school was not a great success for the majority of tenants, some were gratified with betterthan-expected sales. However, all mavens are holding their breath awaiting sales figures for the most important selling season of all, NovemberDecember holiday sales.

No matter what their expectations and plans are now, all can change if those few weeks produce dismal results. However, if sales improve and are better than expected, the optimism may spill and result in more leasing and development deals from early 2010 and beyond.

It may take years though, many contend, before all the current empty stores are filled and a big push for new development and shopping center expansion swings leverage back to the side of the landlord.

2009 EXPANDING RETAILERS

SAVE 30% WITH FALL DISCOUNT!!! www.shoppingcenters.com 9/14/09

J471

(continued from P. J469) JCPenney, Macy’s, Nordstrom, and Sears; 180 stores; parking 5791 cars; opened ‘86; population 622,500 within 10 miles; average household income $62,500; developer Westfield America Inc, 11601 Wilshire Blvd, Ste 1200, Los Angeles, CA 90025, (310) 4784456, www.westfieldamerica.com.

Walnut Creek: An initiative with 10,295 signatures is filed to allow a planned Neiman Marcus to build a 92,000 sq. ft. two-story store at 700,000 sq. ft. Broadway Plaza on 30 acres at Mt. Diablo and S Main St in Contra Costa County (See SCD, P. J445); existing anchors Macy’s, Macy’s II, and Nordstrom; 70 stores; parking 2,593 cars; opened ‘51; population 467,586 within 10 miles; average household income $104,872; developer The Macerich Co, 401 Wilshire Blvd, Santa Monica, CA 90401, (310) 394-6911, www.macerich.com.

COLORADO Longmont: City Councilwoman supports and makes one of her top "The Locations Newsletter"

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Editor-Publisher ................................. Murray Shor, Ext. 201 .................. scdigest@shoppingcenters.com Managing Editor ............................ Jennifer O'Neill, Ext. 250 ........ jenniferoneill@shoppingcenters.com Circulation... .................................. Ext. 206 Shopping Center Digest (ISSN 0885-209X, USPS 112-750) is published twice monthly --except for double issues in February, April, September and December--by Jomurpa Publishing Inc at 20 N. Broadway, Nyack, NY 10960—Telephone (845) 348-7000, Fax (845) 348-7011, (800) 211-6858. Subscription is $349 per year. Periodical postage paid at Nyack, NY, and additional mailing offices. Our e-mail address is scdigestshopping centers.com. Visit our home page at www.shoppingcenters.com.

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J472

9/14/09

priorities the redevelopment of 555,919 sq. ft. Twin Peaks Mall on 75 acres at U.S. 119 and S Hover Rd in Boulder County (See SCD, P. J347); anchor Sears; 85 stores; parking 3265 cars; opened ‘85; population 133,644 within 10 miles; average household income $75,505; developer Panattoni Development Corp (Will Damrath), 4601 DTC Blvd, Ste. 650, Denver, CO 802372459, (303) 790-4737, www.pannatoni .com.

CONNECTICUT Trumbull: $25 million renovation to begin this fall on 1.2 million sq. ft.

Westfield Trumbull on 75 acres at Main St and Merritt Pkwy in Fairfield County (See SCD, P. J445); project to include an all-new interior, all-new exterior, and a brand new food court; anchors Target, JCPenney, and Macy’s; 150 stores; parking 4,800 cars; opened ‘64; population 708,650 within 15 miles; average household income $93,000; developer Westfield Group c/o Westfield Corp (Chuck DiGiovanna), 11601 Wilshire Blvd, Ste. 1200, Los Angeles, CA 90025, (310) 478-4456, www. westfield.com.

FLORIDA North Port: Planning and zoning panel have approved a proposed 986,000 sq. ft. Woodlands Regional Center at SE corner of I-75 and Toledo Blade Blvd (See SCD, P. J457); construction will not begin until ‘10 at the earliest; developer Benderson Development (William Murray), 8441 Cooper Creek Blvd, Bradenton, FL 34201, (716) 8860211, www.benderson.com.

Sarasota: Federal aid could re-launch

a portion of the stalled development of 1.6 million sq. ft. University Town Center on 276 acres at SW corner of I75 and University Pkwy (near Manatee County Border) in Sarasota County (See SCD, P. J387); SuperTarget has opened; Neiman Marcus and Nordstrom were set to open by Nov ‘10; in conjunction, project was to have included 220,000 sq. ft. of office space, 500 hotel rooms, and 1,750 residential units developer joint venture The Forbes Company of Southfield, MI, The Taubman Co of Bloomfield Hills, MI, and Benderson Development, 8441 Cooper Creek Blvd, University Park, FL 34201, (914) 359-8303, www.benderson.com.

IDAHO Nampa: A 35,500 sq. ft. Sports Authority has opened at 967,326 sq. ft. Nampa Gateway Center open-air center on 104 acres at SE of the Garrity Blvd interchange with I-84 (See SCD, P. J399); in addition, a 103,000 sq. ft.

Macy’s and Idaho Athletic Club are set to open later this year; currently, JCPenney is the only other store open at the retail center; population 476,000 within 15 miles; developer Developers Diversified Realty (Erik Christopher), 455 E 500 S #Garden, Salt Lake City, UT 84111, (801) 323-2302, Email: echristopher@ddr.com.

LOUISIANA New Orleans: Mayor has issued an exectutive order to use tax increment financing for the $220 million redevelopment of the storm damaged Lake Forest Plaza (to be renamed (continued)

Shopping Malls Still A Top Draw, Says Poll Though there are growing vacancies, retail sales are in a slump, and consumers are worrying about the economy, the shopping malls in the US are still a substantial draw, according to ShopperTrak RCT Corp.

Though earlier in the year, foot traffic was down 4%, it has rebounded and is now comparable

to activity prior to the deep recession.

“Store visits are declining,” according to Bill Martin, cofounder of the research company, “but people still want to use the element of going to the mall as a social release.”

The study represented trips to some 1,300 enclosed shopping malls.

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(845) 348-7000

"EXPANDING RETAILERS" 2009

15th n Editio The 2009, 15th edition of Expanding Retailers contains all the information you need to make contacts and close deals. FILL THOSE VACANT STORES! •

Profiles the leading and expanding chains reported on the previous year

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didja hear...??? (continued from P. J469) tion of VP of Business Development and Seth Layton as VP of Asset Management, both working at the company's corporate headquarters in St. Petersburg, FL; prior to joining the company, Layton was with Kimco Realty Corp and Tombrink was with Equity, Inc...Rockville, MD-based Federal Realty Investment Trust has closed on $265 million of previously announced capital raising activities and intends to use the proceeds to pursue acquisition opportunities, fund its redevelopment pipeline, pay down its $372 million term loan, and/or for general corporate purposes....Lime Fresh Mexican Grill has hired Angela Kenyon as its new VP- development to assist in its expansion program; previously, she had been with Starbucks Coffee, Dunkin’ Brands, and Burger King...Discount retailer Dollar General-owned by private equity firm Kohlberg Kravis Roberts- filed for an initial public offering and expects to raise $750 million, of which $200 million would be paid as a dividend to its investors...Jay M. Lepselter has joined Hilco Real Estate, LLC, a division of Hilco Trading, as SVP; previously, Lepselter was with Wet Seal...Expected to be completed in mid-to-late October, NRDC Aquistion Corp is converting into a real estate investment trust, called Retail Opportunity Investments Corp (ROI), which will have about $400 million in cash, enabling it to purchase or invest in up to $1 billion in real estate assets including neighborhood centers, regional malls, lifestyle centers, and power centers...Cadillac Fairview Corp Ltd has acquired real estate assets, including the 300,000 sq. ft.

Windor Station office complex from Canadian Pacific Railway for $86 million...Canadian home improvement retailer, Rona Inc plans to unveil a new specialty paint store concept this fall, with three test locations opening in Montreal, PQ, followed by expansion into ON and Western Canada in ‘10 and ‘11...The 14-unit, Chicago, IL-based, Stir Crazy Fresh Asian Grill and the 14-unit Flat Top Grill

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have merged under new parent, Flat Out Crazy LLC, valued at more than $60 million...Beachwood, OH-based Developers Diversified Realty Corp has filed regulatory documents outlining both compensation plans and employment contracts with Chairman and CEO Scott Wolstein and President and COO Daniel Hurwitz indicating that Hurwitz has been "tapped" as next in line for the CEO spot...Weis Markets has acquired d11 Giant Market stores thoughout Broome County, NY, which have reopened under the new nameplate; the Sudbury, PA-based grocery chain now operates 165 stores in PA, MD, NJ, NY and WV...Jones Lang LaSalle has appointed Alex Dauria as managing director, and Ben Breslau and John Schena as national directors from the Boston Region; in addition, Chris Beeson, Stephen Flint, David Girard, Dana Griffin, and Mark Jolly were named associate directors...The 486-unit Steak n Shake Corp (SNS) and Western Sizzlin Corp have jointly announced the execution of a nonbinding Letter of Intent relating to a proposed merger of Western into a wholly-owned subsidiary of SNS...

NY-based NRDC Equity Partners, which owns the Hudson's Bay Company department store chain are "highly interested in an additional investment in Canada" primarily focused on investing in basic-needs retailers, such as supermarkets and drugstores...

The bankruptcy court hearing the case of General Growth Properties rejected creditors’ motions to dismiss several of the properties of the 166 mentioned in the suit; this clears the way for the mall owners to negotiate loan extensions with creditors...JCS Holdings Inc, parent of the 113-unit Joe's Crab Shack chain has changed its name to Ignite Restaurant Group; the name change comes as the company plans to open a fourth unit this fall of its new Brick House Tavern + Tap concept, which launched last year...A number of new IPO stock offerings have been filed recently to acquire distressed properties, including Strategic Retail Trust ($1 billion),

Brookfield Properties ($900,000) and Colonial Financial ($500 million)...

After brief stints with datacenter developer Base Partners and NYC-based full-service commercial real estate company, Helmsley Spear, Aaron Wright has returned to his position as corporate managing director of San Francisco, CA-based tenant-rep firm Studley...Chattanooga, TN-based CBL & Associates, which owns 160 commercial properties, including 88 regional malls and open air shopping centers has shelved all renovations and major capital improvements at its properties nationwide including five in the St. Louis, MO, area alone; those properties include Chesterfield Mall, South County Center, and West County Center in St. Louis County, as well as Mid Rivers Mall in St. Charles County and The Shoppes at St. Clair Square in Fairview Heights...

Circle K has retained NRC Realty & Capital Advisors LLC, based in Chicago, IL, to sell off 87 of its locations across the country...Sydney, Australia-based Westfield Group, which operates 119 shopping centers in Australia, New Zealand, the U.S. and U.K, has received commitments from Asian investors of more than $1.4 billion for a $1.25 billion loan...Marking the biggest IPO to hit the market this year, private equity firm Starwood Capital Group, has increased the size of its offering of a real-estate investment trust to $800 million...Specialty jewelry retailer, Finlay Enterprises, Inc has filed voluntary petition for relief under chapter 11 of the U.S. Bankruptcy code. The company operates 182 locations, including 67 Bailey Banks & Biddle, 34 Carlyle and 4 Congress specialty jewelry stores and 77 licensed departments with The Bon Ton...SouthEast Waffles, the largest independent franchisee of Waffle House restaurants with 105 locations throughout TN, AL, MI, and KY is trying to exit bankruptcy court with a new owner and has been offered bids from Golfer Phil Mickelson, a Tennesse restauranteur and the parent company of the Waffle House chain.

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Financial/Sales Results (Figures are compared to previous year’s unless stated otherwise)

Framingham, MA-based TJX Companies reported net sales for the second quarter rose 4% to $4.7 billion as net income was $262 million, with diluted earnings up 27%; same-store sales rose 4%. The company operates 882 T.J. Maxx stores, 811 Marshalls, 323 HomeGoods and 141 A.J. Wright stores in the U.S...For the second quarter, The Home Depot Inc, said sales were down 9% to $19.1 billion and comparable stores sales fell 8.5%. The company operates 2,240 stores, including 1,974 locations in the U.S. and 178 stores in Canada...AFC Enterprises Inc, parent of the Popeyes Louisiana Kitchen quick-service chicken chain reported domestic samestore sales increased 4.3% for the quarter ended July 12...For the quarter ended August 1, Macy's Inc reported profits fell 90.4% and same-store sales dropped 9.5%...Mall-based specialty retailer, Aeropostale said sales for the second quarter increased 20% to $453 million as net income was $38.6 million, compared with $21.1 million last year; comparable store sales increased 12%...For the quarter, comparable store sales at Sears Holdings Corp said same-store U.S. stores fell 3.9% at Kmart and 12.5% at Sears...Ross Stores announced that net earnings for the second quarter jumped 45% to a record $103.4 million as sales rose 8% to $1.769 billion; comparable store sales were up 3%...For the quarter ended August 1, Gap Inc reported net sales declined 7.3% to $3.25 billion and some-store sales fell 8% including a 15% same-store sales decline for Banana Republic, while Gap and Old Navy were off 10% and 4%, respectively...For the second quarter, teen retailer The Buckle reported net income rose 12.2% to $25 million and profits rose 83.3% to $38.6 million, respectively...JCPenney reported earnings for the first half of ‘09 fell 89.9% to $24 million , or 11 cents, on a 6.9% decrease in sales to $7.83 billion...For the quarter ended Aug 1, New Albany, OH-based Abercrombie & Fitch Co said revenue fell 23.3% to $648.5 million from $845.8 million and comparable store sales fell

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30%...Steak n Shake Co announced a net income for the last quarter of $3.8 million, compared with last year’s loss of $9.8 million; revenue rose 1.4% to $146.3 million and comparable store sales rose 5%...For the second quarter, Hot Topic reported sales were $157.8 million, down 5.4% from the same period last year and total company same-store sales fell 7.7%. The company operates 679 Hot Topic stores and 156 Torrid units...PetSmart announced net income for the second quarter of $39 million compared to net income of $37.2 million...Deerfield, IL-based Cosi Inc, which operates 144 casual restaurants, said revenue for the last quarter fell 13.9% to $31.6 million, as it narrowed its losses to $969,000 compared with last year’s $1.7 million; same-store sales fell 12.2%...Despite a 5% decline in sales, Barnes & Noble reported second quarter net-income of $12.3 million on sales of $1.2 billion; same-store sales fell 6.9%...The Cato Corporation, which operates 1,285 stores in 31 states under the Cato and It's Fashion names announced sales for the quarter ended August 2 were down 2% to $225.4 million and comparable store sales fell 3%...Mexican Restaurants (Case Ole, Mission Burrito) announced revenue in the last quarter fell 3.4% to $18.1 million as it lost $207,937, compared with last year’s net income of $359,059; same-store sales fell 6.6% at company stores, 1.2% at franchised units...Columbus, OH-based Limited Brands, Inc reported net sales for the second quarter were $2.067 billion compared to $2.284 billion and samestore sales fell 9%...General Growth Properties Inc, which filed for Chapter 11 in the middle of April, reported funds from operations (FFO) totaled a loss of $0.52 per share compared to $0.73 per share for the first quarter; in addition, net income fell 4.1% to $608.9 million and total occupancy was at 90.9% for its more than 200 shopping malls in 44 U.S. states... San Francisco, CA-based The Gymboree Corp, which operates a total of 926 retail stores: 624 Gymboree stores, 135 Gymboree Outlet store, 120 Janie

and Jack shops, and 47 Crazy 8 stores, reported net earning for the quarter ended August 1 of $12.2 million compared to $8 million...For the second quarter, Casual Male Retail Group, Inc, operator of Casual Male XL, Rochester Clothing, B&T Factory Direct, Living XL, and Shoes XL, announced sales fell 13.4% to $98.3 million from $113.5 million and comparable store sales fell 13.9%...Columbus, OH-based Big Lots, Inc said sales for the second quarter fell 1.7% to $1.08 billion and same-store sales fell 2.4%...For the quarter ended August 1, Ann Taylor Stores reported sales were $470.2 million compared to $592.3 million and comparable store sales fell 15.4%...For the three months ended August 1, Little Rock, AR-based Dillard's department store chain announced net sales fell 11.2% to $1.43 billion from $1.61 billion and samestore sales declined 13%...For the second quarter, same-store sales fell 18.5% for Saks Inc and net sales fell 14.5% to $561.7 million from $657 million...Bentonville, AR-based WalMart Stores, Inc announced total company sales fell 1.4% to $101.08 billion including a sales increase of 0.3% for Wal-Mart U.S. stores and a loss of 5.1% to $64.2 billion and a loss of 3.2% to $11.9 billion for International stores and Sam's Club, respectively...Amarillo, TX-based multimedia entertainment retailer Hastings Entertainment, Inc said net income for the six months ended July 31 was $1.3 million compared to net income of $3.6 million... For the month of July, McDonald's Corp said global same-store sales rose 4.3%, including a 2.6% increase in the U.S. The company operates more than 32,000 stores in 100 countries... St. Paul, MN-based Gander Mountain Company, the nation’s largest retail network of stores for hunting, fishing, camping, marine and outdoor lifestyle apparel and footwear, products and services announced retail segment sales results for the second fiscal quarter ended August 1 were $210.8 million, a decrease of $2.3 million or 1.1%; comparable store sales declined 2.4%.

©SHOPPING CENTER DIGEST, PO Box 837, Nyack, NY 10960

(845) 348-7000

PO Box 837 20 N. Broadway Nyack, NY 10960

"The Locations Newsletter"

Telephone: (845) 348-7000

www.shoppingcenters.com

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(continued from P. J472) Marketplace at Pointe Maree) on 81 acres in (See SCD, P. J447); existing tenant Lowe’s Home Improvement store; developer is in talks with WalMart as second anchor, as well as several smaller and more upscale retail outlets; opened ‘74; developer c/o Cesar Burgos, 3632 Canal St, New Orleans, LA 70119, (504) 488-3727.

NEW JERSEY Paramus: Expansion and renovation nearly 90% complete at 1 million sq. ft. Bergen Town Center (formerly Bergen Mall) on 72 acres at Rt 4 and Forest Ave in Bergen County (See SCD, P. I869); anchors Marshall’s, Off 5th-Saks Fifth Avenue, Century 21; 92% leased; more than 100 stores include Tommy Hilfiger, U.S. Polo, Gap Outlet, Gamestop and Sock Drawer; parking 5,072 cars; opened ‘57; population 279,897; average household income $105,009; developer Vornado Realty Trust, 210 Rte 4 E, Paramus, NJ 07652, (201) 5871000, www.vornadorealty.com.

PENNSYLVANIA Pottsgrove: Target, Bed Bath & Beyond, and a 76,400 sq. ft. Giant Food Store have opened at 688,000 sq. ft. Upland Square currently under construction on 108 acres at Rt. 100 and State St (See SCD, P. J341); other businesses, including a standalone L.A. Fitness will open late fourth quarter and Petco, Staples, and Five Below are also slated to open; there are spots available for other retailers and businesses including Chili's, Subway, and a bank; developer joint venture Tristate Ventures LP c/o Fameco Real Estate LP (Adam Kohler), 633 W Germantown Pike 633 W German, Plymouth Meeting, PA 19462, (610) 834-8000, Email: akohler@ famecoretail.com, and Cedar Shopping Centers, 44 S Bayles Ave, Ste. 304, Port Washington, NY 11050-3765, (516) 883-5577.

SOUTH CAROLINA Hardeeville: Developer is considering on "changing how it brands" and now plan to start construction in spring ‘10 on its proposed 1.5 million sq. ft. The Colony (formerly known as Okatie Crossings) on 300 acres at Hwy 170 and Hwy 278 (See SCD, P. J325);

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9/14/09

project will be "more upscale than previously planned"; initial phase to open in fall ‘11; population over 300,000; developer The Sembler Company, 5858 Central Ave, St. Petersburg, FL 33707, (727) 384-6000, www.sembler.com.

CANADA Hamilton, ON: Redevelopment -on 760,000 sq. ft. The Centre Mall at Barton St and Kenilworth Ave (See SCD, P. I521); anchors Zellers, Canadian Tire, Metro, and Shoppers Drug Mart; opened ‘55; population 100,000 within 5 miles; average household income $42,000; developer Redcliff Realty Management (Byron Breau), 40 University Ave, Ste. 1200, Toronto, ON M5J 1T1, (416) 941-

1707, Email: bbreau@redcliffrealty .com.

Ottawa, ON: $200 million expansion to begin in ‘12 on 971,000 sq. ft. St. Laurent Shopping Centre on 45 acres at St. Laurent Blvd and Queensway (See SCD, P. H7); project to increase the mall to about 1.3 million sq. ft. and create two new 80,000 sq. ft. spaces and 233,700 sq. ft. for smaller retailers; anchors The Bay, Sears, Toys R Us, Sport Chek; 220 stores; parking 3,942 cars; staged development will be completed by ‘15; population 175,000 within 3 miles; average household income $65,000; developer Morguard REIT, 1 University Ave, Ste. 1400, Toronto, ON M5J 2P1, (416) 369-1711.

NEW AND EXPANDING CENTERS 201,000-500,000 SQ. FT. CALIFORNIA Lake Elsinore: Proposed $120 million, 400,000 sq. ft. Lake Elsinore World Trade Outlet Center on 100 acres across from the Lake Elsinore Outlets in Orange County; project to include about 300 shops featuring retailers selling spices, health foods, natural foods and similar products; in addition, residential living areas could be built above the shops, as well as a hotel; first phase could be completed by ‘12; developer CKS Western Inc (KangShen Chen), 6984 E Overlook Terrace, Anaheim, CA 92807, (714) 281-1888.

Visalia: Macy’s on schedule to open shortly, replacing former 150,000 sq. ft. Gottschalks at 440,000 sq. ft. Visalia Mall at S Mooney Blvd and Walnut Ave in Tulare County (See SCD, P. J423); anchors also include JCPenney; 75 stores; other new or remodeled tenants include a 3,899 sq. ft. Foot Locker, Vans, Nail 2000, Jouney's, Journey’s Kids, The Valley Oak Society for Prevention of Cruelty to Animals, The Halloween Store, and Isla Tequila Bar and Grill; parking 2,200 cars; opened ‘64; population 399,224; average household income $54,136; developer General Growth of California, 110 N. Wacker Dr., Chicago, IL 60606, (312) 960-5000, www.ggp.com.

INDIANA Gary: Owners ‘very interested’ in building a museum honoring late pop star Michael Jackson at 304,725 sq. ft.

The Village Shopping Center on 40 acres at S Grant St and 35th Ave in Lake County (See SCD, P. F985); anchors A.J. Wright and Indiana Development of Workforce; project could also include a hotel, a performing arts center, and a theme park; parking 1,700 cars; opened ‘55; population 159,287within 5 miles; average household income $51,397; developer The Emmes Group of Companies, 420 Lexington Ave, Ste. 900, New York, NY 10170, (212) 293-8900, www. emmesco.com; leasing Zifkin Realty (Tyler Quast), 560 W Washington, Ste. # 400, Chicago, IL 60661, 312-6247762, Email: tquast@zifkinrealty.com.

MASSACHUSETTS Bourne: New owners have submitted reconfigured plans that include a 65,000 sq. ft. grocery store (possibly Stop & Shop or Roche Brothers) at Sagamore Outlet Mall in Barnstable County (See SCD, P. J451); addition is part of a 112,000 sq. ft. of de-velopment to also include a pharmacy and a restaurant; 20 stores; project could take a year to complete; developer High Rock Factory Outlet Road LLC and (continued)

©SHOPPING CENTER DIGEST, PO Box 837, Nyack, NY 10960

(845) 348-7000

"The Locations Newsletter" of the US and Canada

PO Box 837 20 N. Broadway Nyack, NY 10960 (845) 348-7000 FAX (845) 348-7011

EDITORIAL CALENDAR AND APPROACH Published since 1973, SHOPPING CENTER DIGEST is a twice-monthly newsletter that presents more information than any other publication on new and expanding shopping centers, shopping centers with lease space available, and the expansion plans of retail tenants in the U.S. and Canada.

Each regular, 12-page issue follows a strict format of presenting data in organized, easily read and used material. Information on New and Expanding Shopping Centers is arranged according to type of project: regionals, medium-sized, strips, and Upscale Specialty, Mixed-Use, Entertainment. A separate column is set aside for existing centers with Lease Space Available.

Material is arranged alphabetically by state/province, and then alphabetically again by town.

Emphasis is given to specific details on each project–GLA, anchors, stores, parking, trade area, etc.–especially on the names, addresses and telephone numbers of owner/developers and those responsible for leasing.

Another important column, Retailers Seeking Space, concentrates on the latest expansion plans of leading chains–number of stores existing, number planned, average size of units, sales per sq. ft., site criteria–with special attention to the name, address, telephone and fax numbers of those responsible for leasing. Listings are organized by retail category.

Other regular columns are Strolling the Agora, commenting on trends, changes in the industry, and important events; didja hear...???, for people, company changes, top news; Financial Sales/ Results of leading chains and REITs. A page for Classified Advertising is set aside in each issue.

Several times each year, SHOPPING CENTER DIGEST expands into a magazine and accepts large amounts of display and color advertising. These issues include the ICSC Convention Issue in the spring, when the number of pages has grown to over 100 pages, and an extra 11,000 copies are distributed at the May event. For this, and other special issues that tie-in to regional dealmakings, by-lined articles by industry leaders on specific topics may be considered.

Editorial deadlines are 12 days prior to the date of publication, usually the first and third Mondays of each month. The deadline for the special issues is 3 weeks prior to publication date.

Member, International Council of Shopping Centers

(continued) Compass Realty Associates (Mike Cahill), 20 Mall Rd, Ste. 325, Burlington, MA 01803, (781) 425-5511.

MINNESOTA Alexandria: New management plans renovation of 208,400 sq. ft. Viking Plaza at 3015 Hwy 29 S; project to include a new entrance, indoor play areas, new outdoor signage, free wireless internet service throughout the mall, more public seating areas, and the possiblilty of new restrooms; anchors JCPenney, Herberger’s, and Jo-Ann Fabrics; 34 stores; developer Lexington Realty International (Ira Einhorn), 911 E County Line Rd, Lakewood, NJ 08701, (732) 415-6881, Email: ira@lexingtonco.com.

NEW YORK Pelham Manor: $10 million repostioning underway on 268,172 sq. ft. Post Road Plaza 1/4 mile N of I-287 and U.S. Rt. 1 in Westchester County (See SCD, P. J141); a 75,000 sq. ft.

Fairway Market to open in February or March of next year; in addition, an existing Modell’s Sporting Goods is expanding into 20,000 sq. ft. and will reopen this fall; longtime tenant, Dress Barn, will open in a 7,500 sq. ft. space, and a new Marshalls Shoes will lease 10,000 sq. ft.; anchors also include A.J. Wright; parking 1,276 cars; population over 1 million within five miles; average household income $64,128; developer Levin Management, PO Box 326, Plainfield, NJ 07061-0326, (908) 755-2401, www. levinmgt.com; leasing Aries Deitch & Endelson, Inc, 110 S Central Ave, Hartsdale, NY 10530, (914) 949-2800.

NORTH CAROLINA Durham: Plans approved for 431,052 sq. ft. Brightleaf Commons on 71 acres at U.S. 70 and Sanders Ave, next to the Brightleaf at the Park subdivision in Wake County; construction should take about 18 months; developer Real Estate Associates, 3633 DurhamChapel Hill Blvd, Durham, NC 27707, (919) 489-2000, Email: info@real estateassoc.com.

Marion: Proposed Shoppes at Marion at on Sugar Hill Rd (currently home of the Blue Ridge Mobile Home Park) in McDowell County (See SCD, P. J427); anchors Wal-Mart Supercenter

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9/14/09

195,000 sq. ft.; population 12,626 within 3 miles; average household income $30,930; developer WRS Inc (Reed Brownell), 1415 Stuart Engals Blvd, Mount Pleasant, SC 29464, (843) 654-7870, Email: rbrownell@ wrsrealty.com.

OHIO Upper Arlington: New owners plan demolition and redevelopment of 252,000 sq. ft. Kingsdale Shopping Center on 21.7 acres at Northwest Blvd and Tremont Rd in Franklin County (See SCD, P. J465); property will include 220,000 sq. ft. of retail space includng a new 121,000 sq. ft. Giant Eagle Market to be completed next year; 48 stores; parking 1,360 cars; opened ‘59; population 103,576 within 3 miles; average household income $65,577; developer Echo Continental, 150 E Broad St, Columbus, OH 43215, (614) 221-1800, Email: info@ continental-realestate.com.

PENNSYLVANIA Exeter Twp: Many tenants are beginning to open at $75 million Exeter Commons currently under construction on 44 acres off Perkiomen Ave, near W Shore Bypass, or Rt 422 in Berks County (See SCD, P. J153); in addition to Target, which recently opened, other tenants ready to open include TMobile, Staples, GameStop, Supercuts, and Lowe’s; Chick-fil-A, Sonic, America's Drive-In, Five Guys Burgers & Fries, and Red Robin are already open; developer Exeter JV Associates, a j/v of The Goldenberg Group of Blue Bell, PA, and Ironwood Property Group, 70 Portland Rd, W Conshohocken, PA 19428, (610) 941-1164, www.ironwoodproperties.com.

SOUTH CAROLINA Easley: Town ordinance allows for the appropriation of up to $1.7 million for a proposed Easley Town Center shopping center on 130 acres at on U.S. 123 and Rock Springs Rd, where Saco Lowell plant now exists (See SCD, P. I436); developer joint venture Cedarwood Development Inc, 1765 Merriman Rd, Akron, OH 44313-5251, (330) 836-9971, www.cedarwoodd .com and Commercial Development Associates (Gary Brown), 12602 SW 88th St, Miami, FL 33186-1867, (305) 662-8999. (continued)

Conceiving and Developing Quality Real Estate for 40 Years

Peninsula Town Center Hampton, Virginia

www.peninsulatowncenter.com

Mall Properties, Inc. 654 Madison Avenue New York, NY 10065 Telephone: 212.935.1330 Fax: 212.832.5369

leasing@mallproperties.com ©SHOPPING CENTER DIGEST, PO Box 837, Nyack, NY 10960 (845) 348-7000 www.mallproperties.com

CURRENT

PROJECTS

Introducing Peninsula Town Center, Hampton, Virginia

Mall Properties is proud to announce the 2009/2010 opening of Peninsula Town Center. The modern, energetic mixed-use development features Target, Macy’s and JCPenney, top restaurants, leading specialty shops and office space, as well as upscale residential units set around beautifully landscaped parks.

Mercury Plaza, Hampton, Virginia

Opportunities for anchor and in-line spaces are available now at Mercury Plaza.

Located on one of the busiest retail thoroughfares in the Tidewater/Hampton Roads area, the $250 million dollar redevelopment of Peninsula Town Center is expected to attract even more retail growth to Mercury Plaza, adjacent to the area’s only Bass Pro Shop.

Georgia

Akers Mill Square (400,000 sf)—Cobb County, Atlanta Bed Bath & Beyond, Sports Authority, Toys “R” Us, OfficeMax, LA Fitness, Party City

Louisiana

Cortana Mall (1,650,000 sf)—Baton Rouge Dillard’s, JCPenney, Macy’s, Sears Cortana Square & Fringe (370,000 sf)—Baton Rouge Wal-Mart, Lowe’s, Babies “R”Us, Old Navy, Bed Bath & Beyond, Shoe Carnival, Guitar Center, Office Depot Siegen Lane Marketplace (1,000,000 sf)—Baton Rouge Wal-Mart, Sam’s, Lowe’s, Bed Bath & Beyond, Old Navy, T.J. Maxx, Kohl’s, Chili’s, Chuck E. Cheese’s, Wendy’s, Courtyard by Marriott, Residence Inn Sicily’s Plaza (27,500 sf)—Baton Rouge Sicily’s Italian Buffet, Oreck Vacuum, Honey Baked Hams, GameStop

Montana

West Plaza, Glendive—Kmart

New Jersey

The Center at 17, Paramus—Bed Bath & Beyond, T.J. Maxx

New York

Great South Bay (500,000 sf)—Babylon, Long Island Bed Bath & Beyond, Marshalls, Old Navy, Ann Taylor Loft, Panera Bread, Bath & Body Works, The Children’s Place King Kullen Plaza, Babylon, Long Island—King Kullen, Rite Aid Manhasset—Crate & Barrel, Abercrombie & Fitch, lululemon athletica, Abercrombie, Victoria’s Secret, J. Crew, Sephora, Bebe, H&M Northway Mall (600,000 sf)—Colonie (Albany) Target, Marshalls, Jo-Ann Etc, Staples, David’s Bridal, BJ’s Wholesale Club, Petco, Dress Barn, Eddie Bauer Outlet Parkchester Retail District—Bronx 650,000 sf. of Retail Shops with Macy’s, Offices and over 12,000 Apartments Savoy Shops—Third Avenue, 60th-61st Streets, New York City 65,000 sf. of Retail Shops, California Pizza Kitchen, Dylan’s Candy Bar

Pennsylvania

St. David’s Square (217,000 sf)—St. David’s, Philadelphia T.J. Maxx, Bed Bath & Beyond, HomeGoods, Genuardi’s, Micro Center

Virginia

Mercury Plaza (350,000 sf)—Hampton Burlington Coat Factory, Texas Steakhouse & Saloon, Cracker Barrel Old Country Store, Wachovia Bank, GNC, Supercuts Coliseum Square (43,000 sf)—Hampton Lane Bryant

Residential

Hotels Columbus, OH (Easton) Hilton Columbus, Courtyard by Marriott, Residence Inn by Marriott Marco Island, FL Hilton Marco Island

Baton Rouge, LA Courtyard by Marriott, Residence Inn by Marriott Fairfax, VA Marriott

Parkchester, Bronx, NY 12,271 Apartments 650,000 Square Feet of Retail

(continued) WISCONSIN Grafton: Aldi grocery store has signed a lease for a 17,000 sq. ft. store at Grafton Commons at Port Washington Rd and Hwy 60; anchors Costco, Kohl’s Department Store, Michael’s, Best Buy, and Dick’s Sporting Goods; other tenants include WG & R Sleep Shop, Qdoba, Verizon Wireless, AAA, and Petsmart; population 41,531; average household income $76,376; developer Continental Properties Company Inc (Tom Vaughn), W134 N8675 Executive Pkwy, Menomonee Falls, WI 53051, (262) 532-9367, Email: tvaughn@cproperties.com.

Waukesha: A 130,000 sq. ft. Target and Pick ‘n Save have opened at 500,000 sq. ft. The Shoppes at Fox River on 54 acres along Sunset Dr (former Supervalu distribution center)

(See SCD, P. J463); project to include more than a dozen smaller stores and other tenants which may have already opened include Buffalo Wild Wings, Noodles & Company, Verizon, Maurices, Famous Footwear, Petco and Chili’s Grill & Bar; developer Opus North (Jeff Hook), 10350 Bren Rd W, Minnetonka, MN 55343, (952) 656-4874, Email: jeffrey.hook@opusnorth.com.

CANADA Sudbury, ON: Construction on schedule for a ‘10 opening of Silver Hills Centre with more than 320,000 sq. ft. of retail space at Barrydown Rd, S of the Kingsway Hwy (See SCD, P. J404); project to include seven bigbox retailers, including Lowe’s Home Improvement Warehouse and Best Buy; developer Arg Devco, 76 Loach’s Rd, Sudbury, ON P3E 2P7, (705) 5229444.

NEW AND EXPANDING CENTERS UP TO 200,000 SQ. FT. ARIZONA Phoenix: Financing lined up and work is ready to begin on a planned Fresh & Easy Neighborhood Market-anchored shopping center on 6.88 acres at NW corner of Greenway Rd and Tatum Blvd (See SCD, P. J390); developer Town and Country Camelback, LLC (James Shough), 2021 E Camelback Rd, Ste. A38, Phoenix, AZ 85016, (602) 710-2122, Email: james@ camelbackredev.com.

CALIFORNIA Lincoln: New owners plan $3.5 million "facelift" of former Rainbow Market at 255 G St; in addition, company has a $6 million budget to buy and redevelop the parking lot (adding 32 more parking spaces), landscape, and remodel; architects Sterling Pointe and Lincoln Crossing architects and Rauschenback marvelli Becker Architects; developer Katz Kirkpatrick Properties, 3300 Douglas Blvd, Ste. 385, Roseville, CA 95661, (916) 780-6670, www.kkprop.net.

North Park: Construction undrway on 21,000 sq. ft. shopping center anchored by a 14,000 sq. ft. Fresh & Easy Neighborhood Market on less than one acre at SE corner of University

J482

9/14/09

Ave and 32nd St; tenants will also include San Diego National Bank 3,200 sq. ft.; project to also include ground floor parking; opening next year; contractor Whiting-Turner Contracting; architect Maple M3 Architects; developer Meridian Properties (Mike Kalscheur), TOLD Properties, 6185 Paseo Del Norte, Ste. 200, Carlsbad, CA 92011, (760) 710-3020.

Palm Desert: $2 million in renovations have begun on 140,000 sq. ft. Plaza de Hacienda at Washington St and Hovley Lane E; new design will feature more contemporary, with updated roof lines, tower-like elements and new awnings; anchor Albertson’s; other stores include CVS Pharmacy, Dollar Tree, The 19th Hole, Starbucks, Panda Express, Video Depot ,and the Postal Connection; developer FKC Properties Inc (Brett S. Albrecht), 101 S Kraemer Blvd, Ste. 136, Placentia, CA 92870, (714) 528-9864, Email: bsa@ fkcproperties.com.

San Luis Obispo: City Council to review an environmental impact report for a proposed 188,000 sq. ft. Prefumo Creek Commons on 31 acres on Los Osos Valley Rd, across from the entrance to Costco and Home Depot

(See SCD, P. J451); anchor Target 139,000 sq. ft.; parking 838 cars; developer Madonna Properties (Clint Pearce), 284 Higuera St, San Luis Obispo, CA 93401, (805) 543-0300, Email: clint@madonnainn.com.

FLORIDA Mount Dora: Construction has begun on $20 million, 160,000 sq. ft. Loch Leven Landing on 22 acres at U.S. Hwy 441 and State Rd 44; anchor Publix 54,000 sq. ft.; center to include another 17,200 sq. ft. of inline space and 10 outparcels; other tenants will include Great Clips, Today’s Nails, China Star, Alysa Cleaners, and a liquor store; project could also include office space; opening May ‘10; architect Cuhaci & Peterson Architects LLC; contractor Kelsey Construction Inc; developer Morse Properties (David Morse), 240 Springside Rd, Longwood, FL 32779, (407) 661-1128.

Ocoee: Ground work has been completed and building construction could be underway in early ‘10 on 50,000 sq. ft. Shoppes of West Oaks on 10 acres at W Colonial Dr and Good Homes Rd in Orange County; anchor Aldi grocery 20,000 sq. ft.; developer Retail Investment Special-ists LLC (Alan Charron), 6700 Conroy Rd, Ste. 230, Orlando, FL 32835, (407) 2919000, Email: alan@ realpropertyspecialists.com.

GEORGIA Corvallis: Trader Joe’s has begun construction on a new 12,000 sq. ft. store scheduled to open in late ‘09 at Corvallis Market Center at NW 9th St and NW Garfield Ave; developer Regency Centers, One Independent Dr, Ste. 114, Jacksonville, FL 32202-3842, (904) 598-7000, www.regencycenters .com.

KANSAS Salina: Tax financing will support some of the funding required to repair the fire damaged The Sunset Plaza; anchor Dillon’s supermarket; other tenants include McDonald's; developer Maxus Properties, 104 Armour Rd, Kansas City, MO 64116, (816) 4214670.

ILLINOIS Chicago/Mt. Greenwood: A new 17,500 sq. ft Walgreens to anchor a $10.9 million shopping center opening

©SHOPPING CENTER DIGEST, PO Box 837, Nyack, NY 10960

(845) 348-7000

next summer at NW corner of Kedzie Ave and 111th St; project to get $1.5 million TIF assistance; developer Terraco, Inc (Scott Gendell), 8707 Skokie Blvd, Ste. 203, Skokie, IL 60077-2281, (847) 679-6660, Email: shg@terracorealestate.com.

NEW JERSEY Allendale: Multi-million dollar renovation and expansion has begun on 84,290 sq. ft. Allendale Shopping Plaza on 6.9 acres at W Allendale Ave and DeMurcurio Dr in Bergen County (See SCD, P. J208); project to include a newly designed parking lot, new landscaping, new building facade, new light poles, new sidewalks, and 5,000 sq. ft. of new store space; anchors A&P Fresh 38,060 sq. ft., Commerce Bank 11,290 sq. ft., and Learning Express 3260 sq. ft.; parking 250 cars; opened ‘67; leasing Azarian Realty Co (John Azarian), 6 Prospect St, Ste. 1B, Midland Park, NJ 7432, (201) 4449888, jazarian@azariangroup.com.

OHIO Cuyahoga Falls: Former State Road

Shopping Center has been demolished to make way for 150,000 sq. ft., $30 million to $50 million Portage Crossing shopping center on 25 acres at State Rd and Portage Trail in Summit County; project to be anchored by a 60,000 to 90,000 sq. ft. grocery store; opening ’11; additional phases, which might tally $60 million could involve more retail or housing; developer Robert L. Stark Enterprises, 1350 W 3rd St, Cleveland, OH 44113, (216) 464-2860.

OREGON Corvallis: Construction to begin again this month on $17.5 million, 87,000 sq. ft. CCC Plaza on 9 acres at NW Ninth St, adjacent to Office Max and OSU Federal Credit Union; ground was originally broken in the beginning of ‘08, but was stalled after a financing agreement fell apart; anchor Wilco Farm Store 35,000 sq. ft.; project could also include Red Robin restaurant; developer C.W. Clark (Craig Clark), 4180 La Jolla Village Dr, Ste 405, La Jolla, CA 92037, (858) 452-7170, Email: cclark@cwclarkinc.com.

PENNSYLVANIA Hamiltonban Twp: Proposed 13,645 sq. ft. Fairfield Market at Fairfield (Rte 116) and Iron Springs Rd; anchor Food Lion; project to include a restaurant, retail, service and business uses; developer JDH Capital, 3735 Beam Rd, Ste. B, Charlotte, NC 28217, (704) 357-1220, www.jdhcapital.com.

SOUTH CAROLINA Anderson: Leasing continues on 7,250 sq. ft. Sunset Plaza currently under construction on S.C. 81; tenants will include Quiznos, Great Clips and Verizon Wireless; two 1,257 sq. ft. spaces are available; leasing Sunset Properties of South Carolina Inc (Randy Hart), 1325 Brushy Creek Rd, Easley, SC 29642, (864) 855-6433.

TEXAS El Paso: Construction nearing completion on 9,200 sq. ft. The Shops at Glory Road across the street from the Don Haskins Center and in front of the planned location of the $9 million Sun Metro bus terminal and 442-space (continued)

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(continued) parking garage; Panda Express and a non-restaurant national tenant may have already opened; other tenants will including Salad Creations and Aroma; developer G.E.M. Real Estate Investments (Gilbert Malooly Sr), 3737 Gateway W, El Paso, TX 79903, (915) 565-3737, Email: lifer93@aol.com.

CANADA Airdie, AB: Planned Kingsview Market on 38 acres at Yankee Valley Blvd; shopping center with a "mainstreet theme" to be anchored by a national home improvement centre; initial 10-acre phase to also include a national pharmacy, financial institution, and 12,000 sq. ft. of CRU; future

plans will consist of a mixed-use development with pedestrian-friendly "connections" to the city's existing trail system; population 78,162; average household income $100,000; developer Melcor Development (Jesse Rudge), #900, 10310 Jasper Ave, Edmonton, AB T5J 1Y8, (780) 9454653, Email: jrudge@melcor.ca.

UPSCALE SPECIALTY,LIFESTYLE MIXED-USE, ENTERTAINMENT CALIFORNIA La Costa/Carlsbad: Planning commission approves a proposed La Costa Town Square on 83 acres at Rancho Santa Fe Rd and La Costa Ave; “highend” project to include a 284,000 sq. ft. community shopping center, a 55,000 sq. ft. office project, 64 singlefamily homes, and a multi-use residential project; developer Aspen Properties, 8799 Balboa Ave, Ste. 270, San Diego, CA, San Diego, CA 921231538, (858) 268-8901.

FLORIDA Bradenton: Economic conditions have stalled a second phase of development of The Promenade at Riverwalk along the Manatee River in downtown; developer still plans to move ahead with planned project that will include two, four- to five-story residential buildings known as River Song, a 94-room hotel, and 120,000

sq. ft. of restaurant, retail, and office space to compliment the existing River Dance condominium complex; developer Bradenton Riverfront Partners (Ed Vogler II), c/o City of Bradenton 101 Old Main St W, Bradenton, FL 34205-, (941) 932-9400, www. cityofbradenton.com.

Bradenton: When the economy improves, plans will move forward for the $100 million Metro Marquee mixed-use at 301 Seventh St. W; project to include 40,000 sq. ft of ground retail below two condominium towers, with a total of 100 residential units; retail to be anchored by a grocery store; developer Enterprise Associates of Sarasota, FL (Mike Hamad) c/o Tim Polk director of the Bradenton Planning and Community Development Depart-ment, City Hall, 101 Old Main St, Bradenton, FL 34205, (941) 932-9423, www.cityofbradenton.com.

New IPOs Prepare To Buy Properties If there’s one part of the real estate industry that is booming, it is the private sector were a substantial number of initial public offerings are being peddled on Wall Street by investors planning to acquire distressed properties.

Several of these IPOs are in the $1 billion range, with many more ranging in the hundreds of millions of dollars. Many existing Real Estate Investment Trusts have re-financed their debt to position themselves to J484

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acquire at fire-sale prices shopping centers, office buildings, and residential properties as cash-strapped owners are forced to go to market, say financial consultants.

Inland Real Estate Group, which has already bought over $1 billion of shopping centers, residential and industrial properties this year, may be the most aggressive, thus far. Last year, the company paid out more than $3 billion for acquisitions.

Ponte Vedra: Proposed redesign moves forward for the transformation of 140,832 Sawgrass Village at PGA Tour Blvd in St. John’s County (See SCD, P. J452); urban ‘mixed-use’ shopping center encompassing 14 buildings to include 192,000 sq. ft. of commercial area and 115,000 sq. ft. of office space; retail and restaurant to be on 1st floor with offices and 325 multifamily residential units on upper floors; tenants include Publix, Aqua Grill, Cafe Andiamo, Elizabeth’s Cafe, and Etto Japanese Restaurant; developer Bailard Sawgrass LLC c/o RREEF Leasing and Property Management (Becky Good), (904) 273-4933, Email: becky.good@db.com.

GEORGIA Morrow: Construction on schedule and many businesses scheduled to open

by Thanksgiving on Olde Town Morrow on 16 acres off Southlake Circle, near Southlake Mall; tenants will include Incredible Southern Poundcakes, Maguire’s Family and Friends pub, Designs by Delores, The Duchess Closet, Round and Round We Grow, Christi Trees, Olde Town Quilts, and Fixins of Jonesboro; project to also include a 28,000 sq. ft. conference center for events and dining; leasing City Manager John Lampl, 1500 Morrow Rd, Morrow, GA 30260, (678) 300-4312.

ILLINOIS Arlington Heights: Planned $100 million Eastern Tower mixed-use development on 2.5 acres at in Chinatown at 24th St and Wallace Ave; project to include a six-level community center, indoor mall and parking facility, 102 condominiums in a 7-

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story building and a 22-story high rise with 150 condominiums and 100 deluxe hotel rooms; in addition, developer is also proposing a nearby, $50 million Grand Imperial Hotel Condominium; developer Wabash Development Group (See Y. Wong), 2310 S Canal St, Chicago, IL 60616, (312) 360-1818.

Zion: Planned $40 million Market Square downtown urban renewal project; $13 million phase one to include retail, an 84-room Best Western Inn & Suites Hotel, a 220-seat banquet facility, a 24-hour fitness facility, professional meeting space, and a fullservice restaurant ; a second phase will include retail space, condominiums, and a parking struc-ture; in addition, a third phase will include more residential and office components; developer c/o City of Zion, Director of Planning and Economic Development (Delaine Rogers), 2828 Sheridan Rd, Zion, IL 60099, (847)746-4015, www. cityofzion.com.

MICHIGAN Detroit: Several stores have opened at 40,000 sq. ft. Shops at Kresge Building at 1201 Woodward Ave and State St; historic Kresge Building has been converted into a ‘mini-mall’ with a mix of 120 national retailers, and local and specialty retailers and boutiques; developer Dennis Kefallinos, 1201 Woodward Ave, Detroit, MI 48226; leasing Erc Novak, (313) 471-9750, www.shopkresge.com.

Grand Rapids: New investors revitalize a planned, yet long-delayed lifestyle center on six acres at Knapp St and E Beltline Ave NE; pedestrianfriendly project to be anchored by D&W Fresh Market; other tenants will include P.F. Chang’s China Bistro; project will feature the development of streets, sidewalks, bike paths, sewer, and water lines; developer Evergreen Properties of Michigan, Inc. (Steve Benner), 6274 28th St SE, Grand Rapids, MI 49546, (616) 954-5400, Email: sbenner@sbcglobal.net.

MISSOURI Springfield: Developer sought for a proposed 1.8 million sq. ft. of retail space on 100 acres N of the U.S. 60-65 interchange; upper-end outlet mall to feature a mix of a lot of different

tenants; mixed-use development to also include, a hotel, business offices, and retirement community homes; architect Butler, Rosenbury & Partners; client representative R.B. Murray Company (Rob Murray III), 2225 Blackman Rd, Springfield, MO 65804, (417) 881-0600, Email: rob@ rbmurray.com.

NORTH CAROLINA Durham: City council approved $2.6 million worth of incentives for the redevelopment of Hill (Sun Trust) Building; project to include a hotel and the renovation of three smaller downtown building for stores and apartments; company must invest at least $47 million of its own money and meet construction deadlines; developer Greenfire Development, 101 W Main St, Durham, NC 27701, (919) 6679770, Email: inquiries@greenfire development.com.

OREGON Portland: Developer expects to receive between $8 million and $10 million worth of Portland Development Commission money to begin con-

struction by January ‘11 on $70 million, Old Town at NW Fifth Ave, between Couch and Davis Sts; anchor Uwa-jimaya Asian Supermarket; mixed-use project to also include a ‘large, banquet-oriented’ restaurant to site below more than 100 housing units; developer Doug Obletz of Shiels, Obletz, and Johnsen, 1140 SW 11th Ave, Ste. 500, Portland, OR 97205, (503) 242-0084, www.sojpdx.com.

PUERTO RICO San Juan: Proposed mixed-use redevelopment of 100 acres on the San Juan waterfront district, just E of the historic Old San Juan district on th San Antonio Channel (Isleta); 21-block project to include retail, residential, hotel, office and parking components, as well as public parks, including a marina; developer Forest City Enterprises, Inc, 1100 Terminal Tower, 50 Public Sq, Cleveland, OH 44113-2203, (216) 621-6060, www.fceinc.com.

CANADA Toronto, ON: $640 million revitalization planned and construction (continued)

Court Tells Banker To Keep Funding Destiny Construction An upstate NY court ordered Citigroup to resume payments on its $155 million construction loan on the $6 billion Destiny USA, a retail/entertainment project being built in Syracuse by developer Robert Congel.

Though the bank has appealed and a normal timeline is six months, developers Aug 17 urged the court to expedite a decision so construction could resume.

The massive enterprise is being built as an expansion of 1.3 million sq. ft. Carousel Center.

Citigroup contended the project was a failure due to weak leasing and that the bank stopped funding becauseCongel failed to

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provide an additional required eqity of $15 million.

Supreme Court Justice John Chereundolo ruled the claim was erroneous and suggested the bank was trying to get out of its funding commitments to previous capital. He noted that since it received some $44.5 billion in federal bailout money, “the defendant surely cannot be immune to liquidity issues.”

In similar controversies, some say, financial institutions are demanding developers ante up additional moneys due to cost overruns and falling real estate values; developers counter that lenders are using sliding values and weak demands as excuses to halt their funding obligations.

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(continued) to begin early next year on Union Station at York and Front St W; plans call for a new lower-level retail concourse as part of the country’s

biggest transportation hub; opening ‘15; developer Union Station Revitalization, City of Toronto, 2nd Fl, Metro Hall, 55 John St, Toronto, ON M5V 3C6, (416) 338-0338.

CENTERS WITH LEASE SPACE AVAILABLE COLORADO Littleton: 190,000 sq. ft. The Market at SouthPark at 7903 S Broadway in Arapahoe County; new owners; anchors King Soopers, Big Lots, Office Depot, and Blockbuster; owner/leasing ACF Property Management Inc, 7257 S Tucson Way, Englewood, CO 80112, (303) 799-3566.

FLORIDA Miami Beach: 180,000 sq. ft. Shops at Fifth & Alton vertical big-box shopping center at NE corner of Fifth St and Alton Rd in South Beach (See SCD, P. I909); $80 million center has recently opened and is 93% leased; anchors Publix Supermarket (opening in October or November), Best Buy, Staples, T.J. Maxx, Ross Dress for Less, and Petco; parking 1,080 cars; developer/leasing joint venture Potamkin Cos and Berkowitz Development Group, 2665 S Bayshore Dr, Ste. 1200, Miami, FL 33133-5448, (305) 8542800, www.berkowitzdevelopment .com.

Miramar: 64,020 sq. ft. The Shoppes at Monarch Lakes at 14305 Miramar Pkwy; new owners; anchor Publix 51,420 sq. ft.; other tenants include Dunkin Donuts, Subway and UPS; owner/leasing Dizengoff Real Estate LLC, Ronen Saban, (561) 988-8448, Email: ronen@dizengoffgroup.com ILLINOIS Cicero: 300,000 sq. ft. Hawthorne Works at SEC Cermack Rd and Cicero Ave in Cook County; new owners; 95% leased; anchors a 14-screen Kerasotes Theater, a 48,000 sq. ft.

Cermak Produce grocery store, and a 34,000 sq. ft. Famsa home goods retailer; 39 stores; parking 1,278 cars; opened ‘88; population 965,004 within five miles; average household income $54,970; owner/leasing Sterling Organization, 340 Royal Poinciana Way, Ste. 316, Palm Beach, FL, 33480,

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(561) 835-1810, Email: leasing@ sterlingorganization.com.

KANSAS Fairway: 38,720 sq. ft. Fairway Shopping Center at Shawnee Mission Pkwy and Belinder Ave; new owners; 891 sq. ft. and 1,280 sq. ft. available; owner/leasing Lane 4 Property Group (Trip Ross), 4705 Central St, Ste. 200, Kansas City, MO 64112, (816) 2689113, Email: tross@lane4group.com.

KENTUCKY Louisville: 530,000 sq. ft. Springhurst Towne Center on 110 acres at I-265 (Gene Snyder Frwy) and Westport Rd in Jefferson County (See SCD, P. F902); new owners; anchors T.J. Maxx, Cinemark Theatres, Kohl’s, Fashion Shop, Liquor Barn, Dick’s Sporting Goods, Target, Meijer, and OfficeMax; 40 stores; parking 4,770 cars; opened ‘97; population 122,422 within five miles; average household income $83,065; owner/leasing Hocker Group, The 1000 Bldg,6200 Dutchmans Ln, LL2, Louisville, KY 40205, (502) 4591591, www.thehockergroup.com.

MARYLAND District Heights: 244,959 sq. ft. Penn Station Shopping Center at Pennsylvania Ave and Silver Hill Rd in Prince George’s County (See SCD, P. I569); newest signed tenants AJ Wright 25,000 sq. ft. and TGI Friday’s 5,546 sq. ft.; center recently underwent a renovation that included improvements to lighting, facade, parking lot, signage and landscaping; anchors Sava-Lot Foods, National Wholesale Liquidators, Citi Trends, New Horizon Development Center, and Factory Card Outlet; 48 stores; parking 1,522 cars; opened ‘89; spring ‘07; population 366,074 within 5 miles; average household income $55961; developer joint venture Perseus Realty Partners, 2099 Pennsylvania Ave, Washington, DC 20006, (202) 741-8400, Robert

Haft, and The Rappaport Companies, 8405 Greensboro Dr, Ste. 830, McLean, VA 22102-5121, (571) 3821200, www.rappaportco.com.

MASSACHUSETTS Dedham: 675,000 sq. ft. Legacy Place on 40 acres at Elm St and Providence Pkwy (See SCD, P. J447); 93% leased; anchors a 16-screen Cinema de Lux, L.L. Bean, Borders, and a 60,000 sq. ft. Whole Foods; 70 stores; parking 2,800 cars; opened some stores have begun to open; population 500,000 people; average household income $100,000; developer/leasing joint venture National Amusements, 200 Elm St, PO Box 9126, Dedham, MA 02027-9126, (781) 461-1600, www. national-amusem.com and W/S Development Associates (David Fleming), 1330 Boylston St, Ste. 212, Chestnut Hill, MA 02467-2180, (617) 232-8900, www.srweiner.com.

NEW JERSEY Neptune: 220,000 sq. ft. Neptune Plaza Shopping Center on 61.5 acres at NE corner of Rt 66 and Jumping Brook Rd in Monmouth County (See SCD, P. G532); new owners; anchors Shop Rite, Marshall’s, Home Goods, TD Bank, IHOP, and Sally Beauty Supply; 19 stores; opened ‘70; last renovated in ‘02; population 142,101 within five miles; average household income $65,338; owner/leasing The Azarian Group, LLC (John Azarian), The Azarian Bldg, 6 Prospect St, Ste. 1B, Midland Park, NJ 07432, (201) 444-7111, Email: jazarian@azarian group.com.

OHIO Monroe: 400,000 sq. ft. Cincinnati Premium Outlets on 117 acres at SE corner of I-75 and Ohio 63, near a recently opened 300,000 sq. ft. IKEA store in Warren County (See SCD, P. J451); opened in August; 100 designer and name-brand outlet stores include Adidas, BCBG, Max Azria, Banana Republic, Brooks Brothers, Coach, Cole Haan, J.Crew, Kenneth Cole, Michael Kors, Nike, Polo Ralph Lauren, Saks Fifth Avenue Off 5th, and Tommy Hilfiger; developer/ leasing Chelsea Property Group of Simon Property Group, 225 W Washington St, Indianapolis, IN 46204, (317) 636-1600, www.simon.com.

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CANADA Balzac (just N of Calgary), AB: 1.4 million sq. ft. CrossIron Mills on 283 hectares E of Hwy 2 and S of Hwy 566 (See SCD, P. J349); $495 million, 80% leased center opened in August with 17 anchors include Bass Pro Shops 150,000 sq. ft., Bed, Bath and Beyond, Forever XXI, H&M, Holt Renfrew, Last Call, HomeSense, and Indigo; 200 stores; parking 6,000 cars; developer/ leasing Ivanhoe Cambridge (John Scott), Carrefour Frontenac805, boul.

Frontenac Est, Thetford Mines, PQ G6G 6L5, (418) 338-6388, www. ivanhoecambridge.com.

Tracadie-Sheila, NB: 87,508 sq. ft.

Le Rond Point Mall at along rue Principal and Dr. Victor LeBlanc Blvd, adjacent to Atlantic Superstore & Gas Bar and Tim Horton’s; 92% occupied; available units range from 980 sq. ft. to 3,550 sq. ft.; anchors Hart, Dollar-

ama, KFC and Citi Financial; leasing APM (Phil MacDonald), (902) 5698400, Email: pmacdonald@apm.ca.

Stoney Creek, ON: 551,361 sq. ft.

Eastgate Square at Centennial Pkwy N and Queenston Rd; 3,500 sq. ft. exterior unit is available adjacent to anchors Home Sense and Fortino; suggested uses including medical office, dental, home decor, service uses, furniture, and beauty supply; other anchors include Sears, Wal-Mart, Jack Astor’s, Moore’s, and Shoppers Drug Mart; 100+ stores; opened ‘72; leasing Redcliff Realty Management (Byron Breau), 40 University Ave, Ste. 1200, Toronto, ON M5J 1T1, (416) 941-1707, Email: bbreau@ redcliffrealty.com.

Vaughn, ON: 180,000 sq. ft. Eagles Landing at NE corner of Dufferin and Mackenzie (See SCD, P. I614); several spaces from 700 sq. ft. and up are

available; suggested used include medical/pharmacy, chiropractic/ physio, service uses, bakery, travel agent, children’s clothing store, and more; anchor Metro grocery; opened ‘07; leasing Redcliff Property Management (Bryon Breau), 40 University Ave, Ste. 1200, Toronto, ON M5J 1T1, (416) 941-1707, Email: bbreau@ redcliffrealty.com.

West Royalty, PEI: Royalty Power Centre at Trans-Canada Hwy and Rt. 2; opportunities exist for big box, strip mall, office and pad sites; anchor Sears Canada 108,900 sq. ft.; centre also includes 45,000 sq. ft. of inline space with PEI Liquor Control retail outlet, HSBC Financial, and CAA Development; population 135,000 sq. ft.; leasing APM (Philip MacDonald), (902) 569-8400. leasing APM (Philip MacDonald), (902) 569-8400, Email: pmacdonald@apm.ca.

RETAILERS SEEKING SPACE `APPAREL Abercrombie & Fitch, Hollister, Ruehl, and Gilly Hicks of 6301 Fitch Path, New Albany, OH 43054; currently operating 350 Abercrombie & Fitch, 210 abercrombie, 510 Hollister, 29 Ruehl, and 16 Gilly Hicks stores nationwide; company will take the rest of the year to review the number of stores in each of its brands; domestically, company still plans to open two abercrombie stores, four Hollister stores, one Gilly Hicks store, and two outlet stores in fiscal ‘09; internationally, company still plans to open one abercrombie store in Canada and seven Hollisters in the U.K. Jeff R. Sinkey, SVP Real Estate, (614) 2836399, Fax (614) 283-8399, Email: jeff_sinkey@abercrombie.com.

Ann Taylor, LOFT, Ann Taylor Factory, and 10 LOFT Outlets div. of Ann Taylor Stores Corp of 7 Times Square, New York, NY 10036; currently operating 959 including 345 Ann Taylor, 519 LOFT stores, 85 Ann Taylor Factory stores, and 10 LOFT Outlet stores in 46 states, DC, and PR; by year’s end, company expects to trim its total square footage 3.6%, as it closes 53 locations and opens 14 new ones. Buck Sappenfield, SVP Real Estate, (212) 536-4322, Fax (212) 536-

4411, Email: buck_sappenfield@ anntaylor.com.

Forever 21, For Love 21, Gadzooks, and new larger Forever XX1 format of 2001 S. Alameda St, Los Angeles, CA, Los Angeles, CA 90058; currently operating more than 400 stores; company recently opened a new twolevel 38,000 sq. ft. store in San Juan, PR; seeking 40,000 sq. ft. , but moving toward a 80,000 sq. ft. model in major enclosed malls and downtown streetfronts. Real Estate Director, (213) 7415100, www.forever21.com.

Saks Fifth Ave and Off Fifth div. of Saks Inc. of 26100 Cedar Rd Beachwood, OH 44122; currently operating 53 Saks and 54 Off 5th discount outlets; company plans to open three to five new Off Fifth stores across the U.S. in outlet malls and strip centers; company has letters of intent for Saks stores in Westchester County, NY, and San Juan, PR. Vincent A. Corno, SVP Real Estate, (216) 292-6210, Fax (216) 2925548, Email: vincent_corno@saksinc .com.

The Children’s Place and Disney Store of 915 Secaucus Rd, Secaucus, NJ 07094; currently operating 907 Children’s Place and 328 Disney Stores nationwide and Canada; in ‘10, company plans to open 30 new stores,

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primarily during the second and third quarter; seeking 5,500 sq. ft. to 6,000 sq. ft. for Children's Place in power centers and streetfronts. Melissa Boughton, SVP Store Development, (201) 453-7665, Fax (201) 558-2832, Email:mboughton@childrensplace.com.

CONVENIENCE STORES 7-Eleven Inc of 1772 Routh St, Ste. 100, Dallas, TX 75201; currently operating approximately 5,700 locations in the U.S.; company will expand in the New York metropolitan area with at least 44 units in New York and 100 new stores in Southern CA in the next three years; company currently has approximately 800 stores in Southern CA and expects to open nearly 50 this year; seeking 1,800 sq. ft. to 2,200 sq. ft. in major mall locations of 1 million sq. ft. or more in the U.S. and Canada. Dan Porter, VP Real Estate, (972) 828-6835, Fax (972) 828-8996, Email: dporte03@711.com.

Casey’s General Stores Inc of PO Box 3001, 1 Convenience Blvd, Ankeny, IA 50021; currently operating more than 30 stores throughout IA and plans to add about 60 stores in ‘10 throughout nine Midwestern state, either via acquisitions or new-store construction. Real Estate Director, (continued) 9/14/09

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(continued) (515) 965-6106, Fax (515) 965-6160, www.caseys.com.

D. Griffith, EVP, Property Development, (612) 761-1487, Fax (612) 7613740, john.griffith@target.com.

DEPARTMENT STORES JCPenney of 6501 Legacy Dr, Plano, TX 75024; currently operating 1,093 units throughout the U.S. and PR; company has recently opened five new stores, including its first in New York City; for ‘10, company plans to open another five stores; seeking 150,000 sq. ft for mall stores.; off-mall stores require approximately 100,000 sq. ft.

Bradley Syverson, VP-Director of Real Estate, (972) 431-1738, Fax (972) 5311738, Email: bsyverson@jcpenney .com.

Nordstrom and Nordstom Rack of 1700 7th Ave, Ste. 1000, Seattle, WA 98101-4407; currently operating 111 Nordstrom full-line locations, 61 Nordstrom Rack stores, two Jeffrey boutiques, and one clearance store in 28 states; company plans to open at least 14 Rack stores in ‘10, including one store in Union Square, New York, NY; seeking 30,000 sq. ft. to 40,000 sq. ft. in malls and power centers. John Dolson, VP Real Estate, (206) 3034408, Fax (206) 303-4419, Email: john.dolson@nordstrom.com

FOOD, CANDY, ICE CREAM Applebee’s Neighborhood Bar & Grill c/o Apple Metro of 550 Mamaroneck Ave, Ste. 204, Harrison, NY 10528; currently operating approximately 1,600 restaurants; NY franchise, which currently operates 29 eateries in the area, plans to open six restaurants throughout Metro NY this year, including two in the Bronx; seeking 5,000 sq. ft. in freestanding locations, end-caps (in smaller markets), and enclosed malls. Zane Tankel, Chief Executive, (914)-777-2331, Fax (914)-777-2615.

Chick-fil-A, Inc of 5200 Buffington Rd, Atlanta, GA 30349-2998; currently operating 1,400 restaurants in 37 states and DC; a new 4,596 sq. ft. standalone store has opened in San Antonio TX; this year, company has opened 31 new locations and plans to open a total of 80 stores by the end of ‘09; seeking stand-alone sites, mall stores, and licensed outlets. Erwin C Reid, VP Real Estate, (404) 765-8172, Fax (404) 765-8941. Email: erwin.reid@chickfil-a.com.

Swiss Chalet and Harvey's div. of Cara Operations Ltd of 6303 Airport Rd, Mississauga, ON L4V 1R8; currently operating 200 Swiss Chalet locations and 358 Harvey’s locations Canada-wide; company would like to grow its Swiss Chalet division to between 350 and 400 stores in the next five years, including 25 locations in MB and SK, 25 to 30 locations in AB, and 14 to 15 locations in Atlantic Canada; seeking 4,500 sq. ft. to 6,200 sq. ft. in enclosed malls; Canada-wide.

Mark Eaton, Director of Real Estate, (905) 760-2244, Fax (905) 405-6667, www.swisschalet.ca.

Nestle Toll-House Cafe div. of Crest Foods Inc of 101 W Renner Rd, Ste. 240, Richardson, TX 75082; company plans rapid expansion into Canada with 25 to 35 cafe openings over the next 10 years; seeking 250 sq. ft. to 400 sq. ft. for kiosks, 500 sq. ft. to 800 sq. ft. for inline cafes, and 800 sq. ft. to 1,250 sq. ft. for larger stores in the main mall away, from food courts. Scott McIntosh, VP Franchise Development,

DISCOUNT Five Below, Inc of 1616 Walnut St, Ste. 1600, Philadelphia, PA 19103; currently operating 80 extreme dollar/ discount stores, focused exclusively on the needs and tastes of 10-15 yearolds in nine states on the East Coast, from NH to VA; on top of 20 new stores opening this year, the company plans to open some 30 to 40 locations each in ‘10 and ‘11; seeking 6,500 sq. ft. to 8,500 sq. ft. in lifestyle centers & malls; in addition, company is evaluating new markets from NY, OH, NC, among others. Zach Minteer, (215) 546-7909, Fax (215) 546-8099, Email: zach.minteer@fivebelow.com.

Target and SuperTarget of 1000 Nicollet Mall, Minneapolis, MN 55402; currently operating 1,719 stores nationwide; company is on track to open 75 (net 60) new stores this year; for ‘10, Target plans to open 12 new stores and close or replace two or three stores; seeking 128, 000 sq. ft. for Target stores and 186,000 sq. ft. for SuperTarget stores nationwide. John

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(214) 281-8069, Email: smcintosh@ nestlecafe.com.

HOME FURNISHINGS I.O. Metro of PO Box 3417, Bentonville, AR 72712; currently operating 15 stores throughout AL, AR, KS, MS, MO, OK, TN and TX; locations sell eclectic import furniture and accessories and customers buy there items directly off the showroom floor; plan to open five new stores in each ‘10 and ‘11 and up to seven new stores in ‘12 and ‘13; seeking 9,500 sq. ft. in enclosed malls, power centers, and freestanding buildings. Real Estate Director, (479) 271-7507, Fax (479) 254-6759, www.io-metro.com.

Leon’s Furniture of 45 Gordon Mackay Rd, PO Box 1100, Station B, Weston, ON M9L 2R8; currently operating 64 stores, many of which have attached warehouses; company is expanding and hopes to build or lease existing vacant space for up to 10 to 15 new stores; seeking 50,000 sq. ft. to 65,000 sq. ft. in power centers or strip malls Canada-wide. Rod Fortune, National Real Estate Manager, (416) 243-7880, Fax (416) 2437890, www.leons.ca.

SHOE STORES DSW Shoe Warehouse of 810 DSW Drive, Columbus, OH 43219; currently operating 299 units in 39 states; company recently opened two new 15,000 sq. ft. stores in Little Rock, AR and Chattanooga, TN; seeking 19,500 sq. ft. to 25,400 sq. ft. in freestanding locations, malls, and power centers nationwide. Stephen Ramey, Sr Director of Real Estate, (614) 8721629, Fax (614) 872-1799, steveramey @dswinc.com.

SPECIALTY Bears & Wishes of Alberta, Canada; company already has stores in Edmonton and St. Albert, AB, and its first franchise store has opened in Red Deer, AB; retail store and gift delivery service sells stuffed animals and balloons plan to open 3 to 6 stores in ‘10 and another 5 to 10 stores in ‘11; within the next five years, company would like to have presence in every Canadian province and enter the U.S. market. seeking 800 sq. ft. to 1,400 sq. ft. in enclosed malls or power centres primarily in AB, then Canada-wide;

©SHOPPING CENTER DIGEST, PO Box 837, Nyack, NY 10960

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Sandy Holowach, Founder, (780) 4232327, www.bearwishes.com.

Henri Bendel div. of Limited Brands of Three Limited Park way, Columbus, OH 43230; currently operating eight stores; about a year after its debut in San Diego’s Fashion Valley shopping center, company is launching its accessories, beauty and gift concept this fall at Los Angeles’ Beverly Center Mall and South Coast Plaza in Costa Mesa, CA; next locations to open in Dallas’ North Park Center in September, followed by locations at The Mall at Short Hills in Short Hill, NJ, and at King of Prussia Mall in King of Prussia, PA; seeking 1,500 sq. ft. to 2,000 sq. ft. in malls. Jamie Bersani, EVP, Retail Real Estate, (614) 4797456, Fax (614) 479-7450, Email: jbersani@limitedbrands.com.

SPORTING GOODS Dick’s Sporting Goods and Golf Galaxy of 300 Industrial Dr, RIDC Park West, Pittsburgh, PA 15275; currently operating 409 Dick’s and 89 Golf Galaxy locations in 36 states, primarily in the eastern half of the U.S.; company is increasing the number of new store openings it originally planned this year from 20 to 25 locations; next year, the company will open another 24 stores, as well as 5 of its Golf Galaxy units; long-term, company would like to operate 800 Dick’s locations nationwide; seeking 50,000 sq. ft. one-story stores and 80,000 sq. ft. two-story stores. Garrick Hagins, Director-Real Estate, (724) 273-3514, Email: garrick.hagins@ dcsg.com.

SUPERMARKETS Food Lion, Kash n’ Karry and Hannaford Bros div. of Delhaize America, Inc of PO Box 1330, Harrison Rd, Salisbury, NC 281451330; currently operating more than 1,400 stores, including 13 in the new “Sabor Latino” format geared toward Hispanic customers with a much wider array of Latin food items; company plans to convert 12 more Food Lion stores in NC to the new format, and as many as 59 stores in NC to that format this year; Shawn Beichler, VP of Real Estate, (704) 633-8250, Ext. 44, Fax (704) 639-1353, Email: srbeichler@ foodlion.com.

Fresh & Easy Neighborhood Markets div. of Tesco USA of 2120 Park Place, #200, El Segundo, CA 90245; currently operating 121 stores throughout Southern CA; plans to open 3 stores in Oxnard, Orcutt, and Lompoc, CA; previously stated goal was to have 200 stores in the U.S. by late ‘09; seeking 10,000 sq. ft. throughout CA. Tony Eggs, Chief Real Estate Director, (310) 341-1218, Fax (310) 341-1501, Email: stacy.browner@freshandeasy.com

WAREHOUSE CLUBS BJ’s Wholesale Club, Inc of One Mercer Rd, Natick, MA 01760-2400; currently operating 177 units in 15 states mainly along the East Coast; company is planning to open a few smaller-sized stores with a footprint of around 85,000 sq. ft. throughout existing New England and Mid-Atlantic markets. John P. Dowling, VP Real Estate, (508) 651-6063, Fax (508) 651-6070, Email: johndowling@bjs.com.

Retailers Optimistic About ‘10 Business Most retailers—7 out of 10— expect business conditions to improve next year, and 49% expect recovery in the industry will precede that of the broader US economy, according to a survey

by KPMG. Mark Larson, who heads the global retail sector group, said the survey of 65 retail executives took place between May and July.

“The findings reflected an expression of guarded optimism,” he said. “Those retailers who have taken the opportunity to consolidate and to restructure their operations and risk exposure as well as invest for the future during the past year are preparing for the new American marketplace surely to emerge as the economy rebounds.”

Salvage Grocers Filling The Gap A niche in the food store category, salvage grocers whose discount merchandise consists of dented cans, crushed cereal boxes, and products offered after their “sell-date” are expanding and being a more visible tenant in low-end shopping centers and massive, formerly vacant, warehouses and big-box stores.

Among some of these retailers are the Friday Store outside of Denver; Anderson’s Country Market about 90 miles from Richmond, VA; B&D Salvage Grocery some 60 miles from Baton Rouge; and T&W Salvage Grocery, 40 miles west of Atlanta.

©SHOPPING CENTER DIGEST, PO Box 837, Nyack, NY 10960

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Though the bulk of their groceries are bought at traditional supermarkets, most of the shoppers fill-in these purchases with “weekly finds” at salvage stores where the merchandise available can vary day by day.

These retailers are regulated much the same as traditional grocers, with inspectors checking that the outlets are clean and that the merchandise is not severely dented or punctured. Aside from baby formula and over-thecounter drugs and medication, health regulators are not too concerned about sell-dates as long as the food has been stored properly.

9/14/09

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