Reporting The Nation’s Weekly News on Retailing & Retail Real Estate Volume XXVIII No. VII
February 15, 2013
FEATURING home-related Chains Expand Nationwide McCoy Corp. trades as McCoy’s Building Supply Center at 84 locations throughout AR, MS, NM, OK and TX. The home improvement centers, offering building materials, hardware, tools, and farm and garden supplies, occupy spaces of 18,000 sq.ft. in freestanding locations. Plans call for two openings throughout TX during the coming 18 months. Preferred demographics include a population of 30,000 within five miles. Major competitors include Home Depot, Lowe’s Home Improvement and Sutherland. For more information, contact Phil Hutchinson, McCoy Corp., PO Box 1028, San Marcos, TX 78667; 512-353-5400, Fax 512-805-6778; Email: phutchinson@mccoys.com; Web site: www.mccoys.com. Marek, Inc. trades as The Alley at five locations throughout CA. The stores, offering furniture, home décor and gift items, occupy spaces of 15,000 sq.ft. to 30,000 sq.ft. in freestanding locations, power and specialty centers. Growth opportunities are sought throughout southern CA during the coming 18 months. Typical leases run five to 10 years. Preferred cotenants include Target and T.J. Maxx. Preferred demographics include a population of 10,000 within five miles earning $80,000 as the average household income. For more information, contact William Marek, Marek, Inc., 80250 Highway 111, Indio, CA 92201; 760-347-7200, Fax 760-345-1076; Web site: www.thealley.info.
Sit N’ Sleep operates 29 locations throughout southern CA. The stores, offering mattresses, furniture, bedding and related accessories, occupy spaces of 13,000 sq.ft. in freestanding locations, malls and strip centers. Growth opportunities are sought throughout the existing market during the coming 18 months. For more information, contact Larry Miller, Sit N’Sleep, 14300 South Main Street, Gardena, CA 90248; 310-608-6838 Ext. 1800, Fax 310-7677884; Web site: www.sitnsleep.com. Mor Furniture for Less, Inc. trades as Mor Furniture for Less at 27 locations throughout AZ, CA, ID, NM, NV, OR and WA. The stores, offering living room, bedroom and dining room furniture, as well as home entertainment centers, mattresses, home accents and related items, occupy spaces of 40,000 sq.ft. to 60,000 sq.ft. in freestanding locations, power and value centers. Growth opportunities are sought throughout CA, OR and WA during the coming 18 months. Typical leases run 10 years. A vanilla shell is required. Preferred demographics include a population of 400,000 within 25 miles earning $50,000 as the average household. For more information, contact Rick Haux, Sr., Mor Furniture for Less, Inc., 8996 Miramar Road, Suite 310, San Diego, CA 92126; 858-547-1616 Ext. 301. Fax 858-547-1613; Email: ricksr@morfurniture.com; Web site: www.morfurniture.com. (continued on page eight)
This issue contains information on: • Retailers operating 18,055 locations with plans to open 1,499 sites • Real estate valued in excess of $63.7 million to be bought, sold & financed • Leasing activity on over 3.34 million sq.ft. of retail properties s Postmaster: Periodical New nt a te rt di Impo se Expe Plea
national focus New Construction Property Development Centers has two grocery-anchored centers underway................................... Pg. 3 Who’s Opening & Where Select Comfort plans to open 35 stores.......................................... Pg. 4 Carmike Cinemas projects up to 68 new locations........................ Pg. 4 Hot Mama is expecting 12 new stores.......................................... Pg. 4 Buyers & Sellers Sterling Organization closed on a center in TX and looks for more acquistions................................. Pg. 5 Lease Signings Brixmor Property fills two anchor locations in OH.......................... Pg. 6 Sources of Financing Cronheim Mortgage closed on a $13 million loan for a shopping center in NJ................................ Pg. 6 Making The News USAA Real Estate expands its investment team......................... Pg. 6 Exclusives CB Richard Ellis reps Massage Heights in select markets of CA Pg. 8 Lead Sheet Gordman’s Stores to enter MI, OH and TX................................. Pg. 10 Guitar Center plans 15 openings Pg. 11 Space Place................................ Pg. 14