Reporting The Nation’s Weekly News on Retailing & Retail Real Estate
Volume XXVI No. VIII
February 25, 2011
Apparel Chains Expand Nationwide Tilly’s operates 125 locations throughout AZ, CA, CO, DE, FL, MD, NJ, NV, NY, PA and VA. The stores, offering apparel, footwear and accessories, occupy spaces of 6,500 sq.ft. to 10,000 sq.ft. in malls and lifestyle, outlet, power and strip centers. Growth opportunities are sought throughout the existing markets during the coming 18 months. Typical leases run 10 years with options. Preferred cotenants in lifestyle, outlet, power and strip centers include Target, Old Navy, department and sporting goods stores and movie theaters. Preferred cotenants in malls include American Eagle Outfitters, Hollister and Zumiez. Preferred demographics include a population of 300,000 within 10 miles earning $70,000 as the average household income. For more information, contact John Burgess, Tilly’s, 10 Whatney, Irvine, CA 92618; 949-6095587, Fax 949-609-5517; Web site: www.tillys.com.
David’s Bridal, Inc. trades as David’s Bridal at 325 locations nationwide. The stores, offering wedding and bridesmaid dresses, formalwear and related accessories, gifts and invitations, occupy spaces of 5,500 sq.ft. and from 8,000 sq.ft. to 12,000 sq.ft. in freestanding locations and lifestyle, power, specialty and strip centers. Growth opportunities are sought throughout the existing market during the coming 18 months. Typical leases run 10 years. A vanilla shell and specific improvements are required. Preferred demographics include a population of 600,000 within 20 miles earning $45,000 as the average household income. For more information, contact Michael Mirsky, David’s Bridal, Inc., 1001 Washington Street, Conshohocken, PA 19428-2356; 610-943-5000, Fax 610-943-5046; Web site: www.davidsbridal.com.
Talbots operates 580 locations nationwide and throughout Canada. The stores, offering women’s apparel, footwear and accessories, occupy spaces of 4,000 sq.ft. to 5,000 sq.ft. in freestanding locations and endcaps of shopping centers. Growth opportunities are sought throughout select markets of NJ during the coming 18 months, with representation by Silbert Realty & Management Co., Inc. For more information, contact Brian Silbert, Silbert Realty & Management Co., Inc., 85A Division Avenue / PO Box 406, Millington, NJ 07946; 908-604-6900, Fax 908-604-2030; Email: info@silbertrealestate.com.
Happy Days operates three locations throughout NY. The stores, offering children’s apparel, occupy spaces of 15,000 sq.ft. to 28,000 sq.ft. in regional malls. Growth opportunities are sought throughout the existing market during the coming 18 months. Typical leases run 15 years. Specific improvements are required. Preferred demographics include a population of 250,000 within five miles earning $60,000 as the average household income. For more information, contact Morris Mizrahi, Happy Days, 50 Belmont Avenue, Brooklyn, NY 11212; 718-495-4795; Fax 718-498-8966. (continued on page fourteen)
This issue contains information on:
* Retailers operating 54,198 locations with plans to open 3,292 sites * Real estate valued in excess of $408.3 million to be bought, sold & financed * Leasing activity on over 4.3 million sq.ft. of retail properties
Important News Please Expedite
Postmaster: Periodical
Featuring ICSC Mid-Atlantic and West Florida Idea Exchanges New Construction JBG Rosenfeld Retail is developing a mixed-use project in Chevy Chase, MD............... Pg. 3 Observations & Conversations Pg. 4 Profile|Sax Realty, Inc........... Pg. 6 Openings Dollar General Corp. opening a location in Madison Heights, VA Pg. 8 7-Eleven to open 15 to 20 stores throughout Manhattan, NY....... Pg. 16 Food Retailers Expand Plamondon Cos. seeking sites for Roy Rogers in the Baltimore, MD metro area..... Pg. 10 Buyers and Sellers Horn Capital Realty, Inc. looks to acquire single-tenant, net-leased properties.............. Pg. 11 Calkain Cos. selling a portfolio of Arby’s restaurants in NC and VA Pg. 15 Sources of Financing Mortgage Cap Financial provides financing for shopping centers nationwide Pg. 14 Exclusives Michael Salove Co. represents Hibachi Grill Supreme Buffet throughout DE, NJ and PA..... Pg. 16 Lead Sheet Go-Mart, Inc. seeking sites throughout KY, OH, VA and WV Pg. 17 Omega Sports, Inc. looks to enter into SC and VA............. Pg. 20 Lease Signings S.L. Nusbaum Realty Co. negotiated leases throughout VA Pg. 21 In the News dressbarn, Inc. reorganized into Ascena Retail Group, Inc......................................... Pg. 22 Space Place........................... Pg. 24
For more news go to: www.dealmakers.net Mobile Access Code: midatl2011
Looking for Acquisitions • Leasing Great Sites
LEASING
Rivercrest Realty has space available in anchored shopping centers along the East Coast. For leasing, contact: Debbie Lewis FL, GA, SC (919) 518-2000 dlewis@rivercrestrealty.com Nicholas Schuman-Werb DE, MD, NC, TN, VA, WV (919) 518-2000 nschuman@rivercrestrealty.com Helen Vitaliano New York Locations (718) 980-7684 helenvitaliano@si.rr.com
ACQUISITIONS
Rivercrest Realty is actively pursuing acquisitions of retail centers located East of the Mississippi. Acquisition Requirements: • Grocery / Shadow-Anchored • $5 Million Minimum Deal Forward proposals to: Stan Werb (919) 846-4046 swerb@rivercrestrealty.com
www.rivercrestrealty.com 8816 Six Forks Road, Suite 201 Raleigh, NC 27615 Phone: (919) 518-2000 Fax: (919) 424-0001
STATE
CENTEr
AVAILAbLE SF
NEW YOrk Staten Island Staten Island
Coral Island Shopping Center Tottenville Square
DELAWArE Seaford
Sussex Plaza
FLOrIDA Wilton Manors
Shoppes of Wilton Manors
2,515 – 32,524 SF
GEOrGIA Atlanta Augusta Macon McDonough
Lenox Village Southpointe Plaza Walnut Creek Plaza McDonough Marketplace
1,073 – 3,483 SF 1,712 SF 1,997 & 3,497 SF 1,396 SF
MArYLAND Landover Pocomoke City Fruitland
Landover Crossing East Town Plaza Southtowne Commons
1,999 – 97,421 SF 1,485 SF Fully Leased
NOrTH CArOLINA Advance Chapel Hill Charlotte Charlotte Durham Durham Forest City Hendersonville Raleigh Shelby Siler City Smithfield Southport Taylorsville Winston-Salem Winston-Salem
Kinderton Place Timberlyne Archdale Marketplace Royal Plaza Parkway Plaza The Village Hillside Plaza Highlands Square Millbrook Collection Creekside Plaza Chatham Crossing Smithfield Plaza Tidewater Plaza Taylorsville Hanes Commons Oak Summit
1,773 SF 1,201 – 2,010 SF 1,200 – 3,971 SF 1,259 – 7,553 SF 906 – 3,041 SF 2,531 – 11,488 SF 3,016 SF 2,508 – 8,016 SF 1,069 – 2,789 SF Fully Leased 1,998 & 4,007 SF 1,514 & 3,023 SF Fully Leased 1,168 – 8,537 SF 1,117 & 18,294 SF 5,028 – 34,912 SF
SOUTH CArOLINA Boiling Springs Columbia Florence Gaffney Georgetown Greenville Greenville Greenville Greenwood Greer Lake Wylie Lexington Lexington Myrtle Beach Myrtle Beach Surfside Beach
Boiling Springs Center Northpointe Commons Southside Commons Piedmont Plaza Plantation Plaza Haywood Plaza Shoppes at Woodruff White Horse Commons Westwood Plaza Hillview Plaza Landing Station East Towne Centre Village Square Northwood Plaza Plantation Point Surfside Commons
2,006 & 3,009 SF Fully Leased 1,746 SF 2,003 & 3,213 SF 1,997 SF 1,020 – 10,453 SF 1,482 – 4,030 SF 4,007 SF 2,017 – 12,579 SF 2,018 & 3,007 SF 1,217 – 5,974 SF Fully Leased 792 – 2,808 SF 1,122 – 32,259 SF 1,552 – 4,128 SF 4,023 SF
TENNESSEE Cookeville
Cumberland Station
VIrGINIA Bluefield Covington Harrisonburg Martinsville Radford South Boston
Ridgeview Plaza Riverbend Garbers Crossing Mountainview Plaza Peppers Ferry Centre South Boston
WEST VIrGINIA Princeton
East River Plaza
945 – 5,007 SF 1,164 – 8,002 SF 2,992 SF
4,951 SF 2,081 & 30,012 SF Fully Leased Fully Leased 3,010 SF 2,776 SF 1,202 – 5,013 SF 24,560 SF
New Construction Kite Realty Group is developing Delray Marketplace, a 300,000 sq.ft. project located at the intersection of West Atlantic Avenue and Lyons Road in Delray Beach, FL. Frank Theatres and Publix will anchor the center. Tenants include Chico’s and Max Grille. Construction on the project is expected to begin this year with a potential opening during summer 2012. For more information, contact Kite Realty Group, 30 South Meridian Street, Suite 1100, Indianapolis, IN 46204; 317577-5600, Fax 317-577-5605; Web site: www.kiterealty.com.
President/Publisher.............................. Ann O'Neal ann@dealmakers.net Vice President .................................. Alyson Parker
Hermansen Land Development, Inc. is developing the third phase of The Shops at Starwood, a mixed-use center located at the intersection of Lebanon Road and North Dallas Tollway in Frisco, TX. Space is available. Cotenants include Tootie Pie Gourmet Café, BeTween Scene, Ginny’s Underworld, Dimples & Dandelions, Piccomolo Italian Ice Cream Celebration, Starwood Nail Salon, Kotta Sushi Lounge, Bonnie Ruth’s Café Trottoir et Patisserie, TruFire Kitchen & Bar, Learning Express, Paper Affair, Pappagallo Women’s Classiques, Panache at Home and Pierce Decorative Hardware and Plumbing. Tradearea demographics include a population of 200,000 earning over $100,000 as the average household income. The average daily traffic count is 55,000 vehicles. For more information, contact Hermansen Land Development, Inc., 5944 Luther Lane, Suite 725, Dallas, TX 75225; 214373-4202; Fax 214-373-0737; Web site: www.theshopsatstarwood.com.
alyson@dealmakers.net Art Director................................. Anthony Pingicer anthony@dealmakers.net Editor.................................................. Erin Dunkley erin@dealmakers.net Editor............................................... Adam Taliercio adamt@dealmakers.net Customer Service....................... Bridget Thoresen custserv@dealmakers.net Founder..................................................... Ted Kraus 1979–2007
The Dealmakers (ISSN 1055-0771) is published weekly except for the weeks of January 1st, July 4th, the ICSC's Spring and Fall Conventions and December 25th for $294 per year U.S., foreign $319 by TKO Real Estate Advisory Group Inc. PO Box 2630 Mercerville, NJ 08690-0630. TM
The Dealmakers TM reports on over 20,000 retailers, developers and management companies every year. It is written by real estate professionals for real estate professionals. The newsletter keeps readers abreast of the latest leasing, development and management changes occurring in the real estate industry on a weekly basis. NOTE: Current federal law requires written consent from a company prior to utilizing the published fax number. Share The Dealmakers TM with your organization or service for free. Just let us know when your next meeting is and we'll send you copies of our issue for free for your members to learn how to be a better dealmaker! POSTMASTER: Send address changes to The Dealmakers, PO Box 2630 Mercerville, NJ 086900630. Periodical postage paid at Trenton, NJ and at additional mailing offices. Affiliated with Tenant Search, E.S.P., E-Blast Copyright 2011 by TKO Real Estate Advisory Group Inc. 609-587-6200, fax 609-587-3511.
Dolphin Ventures is developing The Outlets at Corpus Christi Bay, located at the intersection of Highway 77 and Highway 44 in Robstown, TX. Cotenants include Gap, ADIDAS, Calvin Klein, Guess, Polo Ralph Lauren, Nike, Saks Fifth Avenue OFF 5th, Aeropostale, Brooks Brothers, Michael Kors, Reebok, Banana Republic, American Eagle Outfitters, Wrangler, BCBG Max Azaria and Under Armour. Area demographics include a population of 427,549 within 30 miles earning $56,596 as the average household income. For more information, contact Peter Edelmann, Lisa Quier Wagner or Rick Carduner, Dolphin Ventures, 2161 Northwest Military Highway, Suite 402, San Antonio, TX 78213; 210-402-3500; Web site: www.corpuschristioutlets.com. Evergreen Properties of Michigan, Inc. is preleasing The Village at Knapp’s Crossing, located along East Beltline Avenue Northeast in Grand Rapids, MI. Space is available from 1,200 sq.ft. to 120,000 sq.ft. Area retail includes Meijer, Celebration Cinema, Chili’s, IHOP, Panera Bread, Johnny Carino’s, Buffalo Wild Wings, Bostons and Melting Pot. Area demographics include a population of 43,376 within three miles earning $96,831 as the average household income. The average daily traffic count is 48,300 vehicles. For more information, contact Steven D. Benner, Evergreen Properties of Michigan, Inc., 6274 28th Street Southeast, Grand Rapids, MI 49546; 616-954-5400, Fax 616954-4400. www.dealmakers.net
The
Dealmakers
Saugatuck Commercial Real Estate, LLC is preleasing Harbor Point, a 7.9-million sq.ft. mixed-use development situated on 90 acres along Washington Boulevard/Canal Street in Stamford, CT. The project features a 430,000 sq.ft. retail and restaurant component, a 540,000 sq.ft. office component, a 4,000unit residential component and a hospitality component. Tenants at the center include a future Fairway Market. For more information, contact Saugatuck Commercial Real Estate, LLC, 9 Burr Road, Westport, CT 06880; Web site: www.saugatuckcommercial.com. The Shumacher Group is preleasing The Shops at Sixes, located at the intersection of Sixes Road and Ridge Road in Canton, GA. Spaces from 1,377 sq.ft. are available. Area retail includes Publix, McDonald’s, Starbucks and Ace Hardware. Area demographics include a population of 94,691 within five miles earning $92,795 as the average household income. The asking rent is $12.50 psf with CAM, taxes and insurance of $3.50 psf. For more information, contact Steven Josovitz, The Shumacher Group, 3188 Saybrook Drive, Atlanta, GA 30319; 770840-2121; Email: steven@shumacher.com; Web site: www.shumacher.com. JBG Rosenfeld Retail, in a joint venture with Lowe Enterprises, is developing Fort Totten Square, a mixed-use, transit-oriented project situated on nine acres at the intersection of Riggs Road and Third Street Northeast in Chevy Chase, MD. The project will feature a 130,000 sq.ft. ground-floor retail component and a residential component. Development is expected to begin during the second half of the year, with completion slated for 2013. For more information, contact JBG Rosenfeld Retail, 4445 Willard Avenue, Suite 700, Chevy Chase, MD 20815; 301657-0700, Fax 301-657-9850; Web site: www.jbgr.com. Or Lowe Enterprises, 11777 San Vicente Boulevard, Suite 900, Los Angeles, CA 90049; 310-820-6661, Fax 310207-1132; Web site: www.loweenterprises.com. Whitestone REIT is redeveloping Lion Square Center, a 119,621 sq.ft. community shopping center located in the International Management District of Houston, TX. Cotenants at the project include Best Saving Supermarket. The company plans to redevelop the property into an upscale, Asian-themed center with new architectural and landscaping features. For more information, contact Whitestone REIT, 2600 South Gessner, Suite 500, Houston, TX 77063; 713-827-9595, Fax 713-465-8847; Web site: www.whitestonereit.com. DM February 25, 2011
page 3
Observations & Conversations Since anchor stores drive leasing and development, new store projections indicate that leasing activity of retail space will continue to improve in the mid-Atlantic region. This issue is being distributed at the ICSC’s Mid-Atlantic Dealmaking. The National Capital region has always been an interesting retail market. I did a leasing assignment just outside of DC decades ago, and getting a handle on the spending habits of military- and government-employed families was a learning curve. Now, the greater DC market has a large employment base from biotech companies and defense contractors along with other private sector businesses making the area their corporate headquarters. Even with the economic wallop that we’ve endured for the past few years, the mid-Atlantic region has remained relatively stable as far as retail occupancy and rents. Future growth is a definite in this market. Walmart plans to build four stores in the District by the end of 2012. I’ve also heard of dozens of proposed mixed-use projects in the DC proper market during the past six months. Most of the developments being proposed have less than 50,000 sq.ft. of retail, along with some residential, and the bulk of space in a majority of the planned retrofits will be offices. Les Sax of Sax Realty, Inc., a seasoned retail broker in this market, is profiled in this issue, and he can attest to the fact that it’s tough to find retail space in the DC market. As with any urban area, operating costs are higher, and when retailers start modeling their store volume projections, there’s a whole slew of costs associated with operating in an urban setting that they won’t encounter if they open a store in a traditional suburban location. Once the retailer has come to terms with higher operating costs and gained confidence that they can do the sales numbers necessary to justify the rent, then there are difficulties just finding available retail sites. Throw in other demands retailers have, such as parking ratios, and the logistics of even getting adequate loading docks become a major problem. As operating procedures from vertical stockrooms to staffing need to be modified to fit an urban model, it becomes an even more complicated proposition to open stores. As to the surrounding suburbs, those markets are seeing leasing activity from anchor stores, too. Dick’s Sporting Goods has plans for 14 additional locations throughout Maryland. MOM’s Organic plans to open five more supermarkets in the suburbs of Baltimore and in northern Virginia by 2012. The Harris Teeter supermarket chain is also looking at more locations in Maryland. I also heard that there are several more local and regional supermarket chains planning to open stores in the Maryland and northern Virginia trade areas within the next year or two. Since anchor stores drive leasing and development, new store projections are pretty good indicators that leasing activity of retail space will continue to improve in the mid-Atlantic region. I’ve also heard chatter about a number of plans for redevelopment and new construction in the mid-Atlantic market. There’s talk of malls to be reinvented as open-air centers or revamped into mixed-use projects with residential and office uses added to an existing retail component. I’ve also heard about ideas to create mass transit hubs surrounded by retail, residential and office components. Of course, most of the proposed projects will be under discussion with town officials for years page 4
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to come, and quite a few are more pipe dreams than they are based in reality. As always, it’ll be interesting to observe which ones actually make it from the drawing board to execution. Acquisitions have picked up in recent months, as well, with the sale of several large-scale projects in the mid-Atlantic market. Prices and cap rates of smaller projects, especially as they get closer to the Beltway, are holding their own. I saw a small center near the Potomac Mills with an asking price of nearly $400 psf with a 6.5% Cap. As with leasing, the acquisition side of retail real estate in this market is expected to heat up. All are indications that this part of the country is in recovery. I’m seeing more and more positive signs from coast-to-coast that the health of retailing is improving. The stock market hit the 12,000 mark and unemployment isn’t getting worse. I just got back from spending a week in Kansas and Missouri. I visited the big towns of St. Louis and Topeka, as well as other hot spots like Abilene, KS, where the only place you could sit at a bar and have a beer was the bowling alley and the best restaurant in town closed at 7:30 pm. (Don’t ask why I was in Abilene, Kansas; it’s a long story and yes, I saw too much snow! It’s been a hectic winter even in Pennsylvania and New Jersey. We had to close for a few days because of snow and ice and lost power for one, so I’ve had my fill of winter.) I was impressed with how well retailers were doing in the bigger cities of Kansas and Missouri, but you could tell once you got an hour or two outside of “town” that the struggle continues for mom-and-pop stores. I was talking to a retail broker who leases space in small rural markets throughout the entire southeast and the delta markets. He is encountering the same thing I saw in small markets in the Midwest: It’s really, really hard to find chains willing to open stores anywhere but in big towns. I also recently spent some time in rural parts of New Hampshire, and it was the same story with retailing there. My hunch is that retailers will continue to be reluctant about investing in small towns until we have a huge upswing in consumer spending, and even with the economy picking up a little steam, I don’t think that will happen anytime soon. If you’ve got vacancies in small towns or rural markets, my only advice is to use the mirror test: If a potential tenant can fog a mirror, do the deal. Don’t worry about their financials and all the guarantees, just get a warm body sitting in the store and pray like hell is freezing over that they can make the next month’s rent payment. I’m running out of white space on the paper, so to wrap it up: Visit us during the ICSC Mid-Atlantic Dealmaking at booth #200. Attendance is expected to be decent at this show, and as with all the upcoming ICSC shows this year, my bet is that attendance will be up at least slightly across the board. We’re starting to get geared up for the Vegas convention. Yep, the big show is just a few months away. If we can help you with your marketing needs as far as helping to drive traffic to your booth or to set up appointments in advance, just give us a call or drop an email to myself or Alyson at ann@dealmakers.net or alyson@dealmakers.net and we can give you some cost-effective ideas that really work. Have a good show, and here’s to no more snow!
Ann O’Neal, Publisher www.dealmakers.net
sax realty, inc.
Profile — A monthly column featuring retailers and retail real estate companies
Innovators in the marketplace
Adam Taliercio Since its formation in 1986, Sax Realty, Inc. has provided retail real estate brokerage services throughout the Washington, DC metropolitan area, specializing in the leasing and sale of shopping centers and land for shopping center developments, as well as retail tenant representation. The company’s primary focus is within a 75- to 100-mile radius of Washington, DC, including MD, VA, the WV panhandle and parts of DE. The Washington, DC metropolitan area is one of the strongest markets in the country – a standing that president Les Sax attributes to a combination of factors, including the presence of several corporate headquarters and the federal government, the attractiveness DC holds for young college graduates, and a large number of double-income households creating highly-favorable demographics. “Fairfax and Montgomery counties are two of the top 10 counties income-wise in the whole country; you’ve got a core of over two million people making strong incomes. That provides a strong retail environment,” explained Sax. Although the DC market remains strong, even in the face of recession, Sax added that there is also a higher barrier of entry for retailers than in other parts of the country, and deals can prove difficult to make due to expense and intense competition over a smaller amount of available space. The region tends to be dominated by office property over retail, he explained, and vertical developments have become increasingly common – a type of structure that not all retailers can or will gravitate toward. “If this is the number one market in the country for sales performance, it’s also near the top of the list in degree of difficulty in getting deals done,” Sax said. “A lot of times, we hear from people that they don’t like the complications of DC, that they could go to Florida or Texas and make deals easier and cheaper,” he said. “And they might be able to, but they won’t get the sales performance that a retailer or restaurateur would get in DC because the demographics are so strong, so you have a lot of competition for any site that becomes available.” As a boutique firm, Sax Realty is able to provide its clients with personal attention and can handle anything from a large rollout of stores to a “rifle-shot” approach, wherein a company with an existing presence seeks a hole in the market where they can add a location without cannibalizing business from their existing stores. “We can adapt to whatever [a client] wants to do,” Sax said. Many of the retailers the company works with have been with the firm for over 10 years, including clients such as Sterling Jewelers, David’s Bridal, Foot Locker, P.F. Chang’s and Bed Bath & Beyond – one of the company’s oldest clients. “I think what they like is that we’ll go to great lengths to understand their business model, and we don’t push them to make deals that they’re not 100% happy with,” Sax said. “Also, that we do our work with honesty and integrity, which you shouldn’t have to mention, but is important to mention.” Sax Realty takes its expertise outside of the DC area only in rare circumstances, but as a member of the Retail Brokers Network and the Council of International Real Estate Restaurant Brokers, is able to provide clients with referrals to other firms outside of their area of operations should the need arise. “If a retailer comes to us and just wants to use our networks to expand around the country, we can do that,” explained Sax. “Or if they say, ‘you’ve done a good job for us in DC, can you recommend somebody in Philadelphia?’, we can, with the assurance that these are strong companies who will service the client well.” Sax has a background in retail himself, having worked for companies such as Payless ShoeSource and Lucky Stores prior to forming Sax Realty, and this experience has served him well. “We understand the corporate philosophy,” he said. “We understand the process that a company goes through with real estate, getting approvals from operations and other people in the company. We’ve been through it before, so we can deal with it, whereas other brokers might get frustrated with the corporate process.” page 6
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Recent projects the firm has handled include a major relocation for Bed Bath & Beyond, as they closed a 25,000 sq.ft. store along Route 7 in Tysons Corner, MD and opened a 56,700 sq.ft. location – the retailer’s largest store in the country – along Route 123/Chain Bridge Road in a former Hecinger’s site in the city. The company is also looking at the market for potential sites for Christmas Tree Shops, and has recently begun representing Rosa Mexicano, an upscale Mexican restaurant headquartered in NY, in the DC market. Sax cited the importance of innovation and the ability to adapt to a changing market as necessities for a firm to thrive. “As the world changes and clients’ needs get larger or smaller, you have to have a great understanding of every market in the whole metro – which markets are getting stronger, which are getting weaker, and where the growth trends are,” he said. For example, the company was recently able to obtain an ideal site for Jared – The Galleria of Jewelry: a freestanding location on a prime corner along Rockville Pike in Rockville, MD, an area trending toward mixed-use vertical and high-rise properties. “To get the right piece of ground, freestanding, with enough of a term to make the deal work, was a challenge,” Sax said, “but we worked with them and the landlords and their brokers to make the right deal happen.” In addition to working with retailers, Sax Realty also services landlords in select circumstances. Ideal landlord clients for the company are those that have proven flexible over the past few years in order to keep their tenants in place, Sax said. “You want the right mix of tenants, and you have to be on the watch. I find myself spending a lot of time on the road today, just driving in markets and visiting retailers, looking to see how they’re doing. There are obviously going to be retailers who don’t make it in this climate, in our market especially. You need to determine which retailers are going to survive, and keep an eye on the ones who are weak and going to fall out and figure out who’s going to replace them. It takes an effort from everybody – brokers, landlords and tenants – to try to work through things so that it can be winwin, so tenants can stay in place and owners can be happy with the renewal deals.” Sax said that the economic climate forces everyone – both retailers and landlords – to reexamine what they do and how they negotiate. Although some situations may better serve the tenant over the landlord or vice-versa, neither side is regularly able to demand too much from the other. “Landlords with triple-A properties might think they have a lot of leverage now, because retailers want the A properties more than the B and C properties,” he said. “But the strongest retailers, they don’t have to make any particular deal if it doesn’t work for them. The broker still has to be knowledgeable about every specific market, and have the skills to bring both sides together to make a deal or continue an occupancy, and it’s not easy to do that today because both sides seem to think they have the stronger situation now. The answer is that everybody’s got to work together to figure it out – landlords need retailers and retailers need landlords.” Overall, Sax said that 2010 had proven a better year than 2009, and that he expects 2011 to be an improvement over last year, but added that the degree to which the economy is recovering is debatable. “It’s getting stronger, but there’s still a lot of issues out there,” he said. “The ICSC meeting in February is a good benchmark, because retailers and landlords are digesting the Christmas results and everybody’s trying to figure out their expansion plans for the rest of 2011 and for 2012 and 2013 as well. I think it’s going to be slow and steady, myself. I look at 2011 as a kind of Darwinian year for retailers and restaurants, and it’ll be interesting to see who survives and who doesn’t survive.” For more information, contact Les Sax, Sax Realty, Inc., 4931 Cordell Avenue, Bethesda, MD 20814; 240-497-1192, Fax 240-497-119; Email: lsax@saxrealty.com; Web site: www.saxrealty.com. www.dealmakers.net
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Who’s Opening and Where Target Corp. (612-304-6073) plans to open a Target at Gateway Hanover Shopping Center, a center situated on 100 acres at the intersection of Eisenhower Drive and Eichelberger Street in Hanover, PA. The store is slated to open during July and will join Five Guys Famous Burgers and Fries at the center. Five Below also plans to open an 8,000 sq.ft. store at the center during late summer, and Olive Garden plans to open a restaurant at the site during the latter part of the year. The company plans to open 21 new locations throughout 13 states nationwide during the year. Planned openings include stores in CA, CO, KY, MA, MN and WI slated to open next month, as well as two stores each in CA and PA and locations in AZ, HI, LA, MA and OK slated to open during July, and two additional CA stores, two NC locations and a unit each in OH and PA slated to open during October. The company also plans to remodel approximately 400 existing locations nationwide during the year, and currently operates 1,752 locations nationwide throughout 49 states. Saks, Inc. (212-940-5305) plans to open a 28,000 sq.ft. Saks Fifth Avenue OFF 5th location at Outlet Shoppes at Oklahoma City in Oklahoma City, OK. The store is slated to open during August and will be the company’s first in the state. The company also plans to open a 28,000 sq.ft. OFF 5th location at Tanger Outlet Center, located in North Charleston, SC. The store is slated to open during October and will be the company’s second in the state. The company also plans to open a 20,000 sq.ft. OFF 5th location at Tuscany Place Designer Outlets, a lifestyle outlet center located in Madison, MS. The store is slated to open next spring. All three locations will be in the company’s new store design, featuring open floor plans, moveable fixtures and brighter lighting. The company currently operates 58 Saks Fifth Avenue OFF Fifth stores and 47 Saks Fifth Avenue stores nationwide throughout 23 states. Safeway, Inc. (925-467-3000) will open a 65,000 sq.ft. Safeway store in a former auto dealership located at the intersection of Beretania Street and Piikoi Street in Oahu, HI. The store will replace an existing, smaller location along Beretania Street. Construction on the store began this month with an opening projected for early next year. The company currently operates 19 locations throughout the state. Wal-Mart Stores, Inc. (479-273-4000) plans to open a Walmart on 24 acres at the intersection of Chain Lake Road and North Kelsey Street in Monroe, WA. page 8
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Cabela’s, Inc. (308-254-5505) plans to open an 80,000 sq.ft. Cabela’s store at Regency Lakes Shopping Center, located at the intersection of 21st Street and Greenwich Road in Wichita, KS. The store will be in the company’s new design, featuring conservation-themed wildlife displays and trophy animal mounts. The store will join SuperTarget and Clost Plus World Market at the center. Construction is slated to start during late July with an opening projected for early next spring. The company also plans to open locations in Allen, TX and Springfield, OR, as well as two locations in Canada next year. The stores offer hunting, fishing, camping, hiking and boating equipment, as well as outdoor clothing, gifts and furnishings. Dollar General Corp. (615-855-4000) plans to open a 9,000 sq.ft. Dollar General store along South Amherst Highway in Madison Heights, VA, as part of a plan to open 625 stores nationwide during the year. The store will replace an existing location along Seminole Drive which will close upon the opening of the new store. The company also plans to open a store along Old LA 659 in Houma, LA. Construction on the store began last month with an opening projected for May. The company also plans to open a location in Labadieville, LA during May. The company also plans to open a 9,100 sq.ft. store along Columbia Street in Cohoes, NY. The company currently operates 9,000 stores nationwide throughout 35 states. Dunkin’ Brands, Inc. (781-737-3000), through a franchisee, will open a 2,000 sq.ft. Dunkin’ Donuts with a drive-thru near the intersection of Mundy Mill Road and Mundy Mill Drive in Oakwood, GA. The store is slated to open during April and will be the company’s first in the area. The franchisee also plans to open a location in Gainesville, GA during the year. The company currently operates 9,200 locations nationwide and internationally Dick’s Sporting Goods, Inc. (724-273-3400) plans to open a Dick’s Sporting Goods store in a former Mervyns located near the intersection of Shaw Avenue and Valentine Avenue in West Fresno, CA. The store is slated to open during June. The company currently operates 440 locations nationwide. Mars Super Markets, Inc. (410-590-0500) will open a 45,272 Mars supermarket in a former Superfresh at Bel Air Plaza, located along Baltimore Pike in Bel Air, MD. The store is slated to open by year’s end and will be the company’s third in Harford County, MD.
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TJX Cos., Inc. (508-390-3000) will open a T.J. Maxx store in a former A.J. Wright at Hudson Valley Shopping Center in Troy, NY. The location is one of 91 A.J. Wright locations nationwide being converted into a TJX Cos. concept and is slated to open during April. The company also plans to open a 20,000 sq.ft. T.J. Maxx store along Old Aberdeen Road in a former Goody’s in Columbus, MS. The store is slated to open during April. The company currently operates 2,700 locations nationwide under the T.J. Maxx, Marshalls, HomeGoods and A.J. Wright trade names. Hy-Vee, Inc. (515-267-2800) plans to open a Hy-Vee supermarket at Valley View Shopping Center, located at the intersection of 95th Street and Antioch Road in Overland Park, KS. The store will replace two existing Hy-Vee units located along West 95th Street and West 91st Street in the city. Construction is slated to begin during late summer or early fall, with an opening projected for midsummer of next year. The company recently opened an 87,315 sq.ft. supermarket along North Blue Jay Drive in Liberty, KS last month, and currently operates 232 locations nationwide throughout eight states. Hennes & Mauritz AB (212-564-9922) plans to open an H&M store at Walden Galleria, located in Cheektowaga, NY. The store is slated to open during the spring, and is one of seven the company plans to open during the season. Anthropologie also plans to open a location at the center during the summer. The company currently operates 2,200 locations, offering apparel for men, women and children, nationwide and internationally, including 34 stores throughout NY. Cost Plus World Market (510-893-7300) is scouting potential locations throughout the San Fernando Valley area of southern CA. The company plans to close an existing location along Tampa Avenue in Northridge, CA and replace it with a new site. The chain currently operates 263 locations, offering home furnishings, housewares, gifts, jewelry, decorative accessories and gourmet foods and beverages, nationwide throughout 30 states. Recreational Equipment, Inc. (253-3953780) will open a two-story, 25,000 sq.ft. REI store at Westfield Capital Shopping Mall, located off Cooper Point Road in Olympia, WA. The opening will be the company’s eighth in western WA and is slated to open during the spring. The company currently operates 114 locations, offering outdoor gear and apparel, nationwide. (continued on page sixteen)
Mid-Atlantic
Retail Opportunities MERCURY PLAZA
HAMPTON (HAMPTON ROADS MSA), VIRGINIA 10,000 - 21,000 SF; 1.1-Acre and 1.7 Acre Outparcels Available • 350,000 SF center currently under redevelopment opposite Bass Pro Shops • Located at the intersection of West Mercury Blvd (Rt 258) and Power Plant Pkwy (Rt 415), just off the heavily traveled I-64, which boasts 140,000 vehicles per day • Hampton Roads is the largest MSA between Washington DC and Atlanta • Join Burlington Coat Factory, Cracker Barrel, Wachovia Bank, and Texas Steakhouse
AKERS MILL SQUARE
ATLANTA, GEORGIA 3,300 SF; 4,000 SF; 35,700 SF Available – Development Opportunities Available • 400,000 SF center currently under redevelopment • Located at the intersection of Cobb Pkwy (US 41), Akers Mill Rd and Riverwood Pkwy • Just off I-285 and I-75 with a combined traffic count of 765,000 vehicles per day • Adjacent to Cumberland Mall, Cobb Galleria Convention Center and Performing Arts Center • Join Sports Authority, Bed Bath & Beyond, OfficeMax, LA Fitness, and Toys ‘R’ Us
ST. DAVID’S SQUARE
RADNOR (PHILADELPHIA), PENNSYLVANIA 1,867 SF; 3,049 SF Available (Can be Combined to 4,916 SF) • Located off I-476/Blue Route in suburban Philadelphia’s affluent Main Line region • East Lancaster Ave (Rt 30) is the primary retail shopping hub in the area and serves Valley Forge Military Academy, Villanova University, and Bryn Mawr College • Main Line boasts the highest average household income in Philadelphia and its suburbs • Join Bed Bath & Beyond, T.J.Maxx, Homegoods, and Genuardi’s Supermarket
THE ATRIUM at FASHION CENTER
PARAMUS, NEW JERSEY Full Floor Anchor Space up to 59,000 SF; Retail Shops up to 5,900 SF Available • Located on Rt 17, one of NJ’s most heavily traveled roads and robust retail corridors • Shares cross-clientele with Lord & Taylor, Best Buy, Fairway Supermarket, and Loehmann’s • Highly visible location just off the Garden State Pkwy near Paramus Park, Garden State Plaza and, Bergen Community College • Join Bed Bath & Beyond, and T.J.Maxx
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Food Retailers Expand Nationwide Crazy Dough’s Pizza operates three locations throughout Boston, MA. The pizzerias occupy spaces of 600 sq.ft. to 1,200 sq.ft. in downtown areas and inline spaces of lifestyle centers. Growth opportunities are sought throughout MA during the coming 18 months, with representation by Conviser Property Group. Plan B Burger Bar operates three locations throughout CT. The restaurants occupy spaces of 2,400 sq.ft. to 6,000 sq.ft. in freestanding locations and endcaps of lifestyle centers. Growth opportunities are sought throughout MA during the coming 18 months, with representation by Conviser Property Group. A full liquor license is required. Preferred demographics include a trade-area population earning $65,000 as the median household income. Red Mango operates 124 locations nationwide throughout 25 states. The shops, offering all-natural, nonfat frozen yogurt, occupy spaces of 500 sq.ft. to 2,000 sq.ft. in freestanding locations, malls, kiosks and endcaps and inline spaces of shopping centers. Growth opportunities are sought throughout the Boston, MA metropolitan area during the coming 18 months, with representation by Conviser Property Group. The company prefers sites in densely-populated, highly-visible areas with heavy foot traffic located near college campuses, but will consider other locations. For more information, contact Scott Moriyama, Conviser Property Group, 858 Washington Street, Suite 306, Dedham, MA 02026; 781-320-0600 Ext. 4, Fax 781-7914599; Email: scott@conviserpg.com; Web site: www.conviserpg.com. Bobby’s Burger Palace operates five locations throughout CT, NJ, NY and PA. The fast-casual restaurants, offering burgers, sandwiches and side dishes, as well as milkshakes, wine, beer and frozen margaritas, occupy spaces of 3,300 sq.ft. to 4,000 sq.ft. in freestanding locations, regional malls and endcaps of entertainment and power centers. Growth opportunities are sought throughout the existing markets, along with MA, MD, VA and Washington, DC, during the coming 18 months, with representation by Northwest Atlantic Real Estate Services. Preferred cotenants include upscale restaurants and entertainment and lifestyle retailers. Preferred demographics include a daytime population above 50,000 and a residential population above 60,000 within three miles earning $50,000 as the median household income. For more information, contact Jordan Cohn, Northwest Atlantic Real Estate Services, 711 Westchester Avenue, 2nd Floor, White Plains, NY 10604; 914-328-2222, Fax 914328-2121; Email: jordan@nwatlantic.com; Web sites: www.nwatlantic.com and www.bobbysburgerpalace.com. page 10
February 25, 2011
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Marcos Franchising, LLC trades as Marcos Pizza at 200 locations nationwide. The pizzerias, offering carryout and delivery, occupy spaces of 1,200 sq.ft. to 1,600 sq.ft. in strip centers. Plans call for 75 openings throughout the existing market during the coming 18 months. Typical leases run 10 years with options. A vanilla shell and tenant improvement allowance are required. Preferred cotenants include Sprint and AT&T Mobility. Major competitors include Papa John’s and Pizza Hut. Preferred demographics include a population of 20,000 within three miles earning $40,000 as the average household income. The company is franchising and prefers site submittals to be sent via the Web site. For more information, contact Steve Hoza, Marcos Franchising, LLC, 5252 Monroe Street, Toledo, OH 43623; Web site: www.marcosfranchising.com. Plamondon Cos. trades as Roy Rogers at 52 locations throughout 12 states within the eastern region of the U.S. The fast food restaurants, offering roast beef sandwiches, burgers and fried chicken, occupy spaces of 2,800 sq.ft. to 3,300 sq.ft. in freestanding locations and endcaps and inline spaces of shopping centers. Growth opportunities are sought throughout the Baltimore, MD; New York, NY; Philadelphia, PA and Washington, DC metropolitan areas during the coming 18 months. Typical leases run 30 years. Major competitors include Burger King, Arby’s, Wendy’s and McDonald’s. A land area of one acre is required for freestanding locations. For more information, contact Jon Fields, Plamondon Cos., 321 Ballenger Center Drive, Suite 201, Frederick, MD 21703-6028; 301-695-5051 Ext. 130, Fax 301-695-5066; Email: jonf@plamondon-cos.com; Web site: www.royrogersrestaurants.com. Farmer Boys Food, Inc. trades as Farmer Boys Restaurants at 67 locations throughout CA and NV. The fast-casual restaurants occupy spaces of 3,000 sq.ft. in freestanding locations with a drive-thru. Growth opportunities are sought throughout the existing markets during the coming 18 months. Typical leases run 20 years with four, five-year options. Preferred cotenants include Target, Walmart and home improvement retailers. The company is franchising. For more information, contact Joyce Dery, Farmer Boys Food, Inc., 3452 University Avenue, Riverside, CA 92501; 951-275-9900, Fax 951-275-9930; Email: jdery@farmerboys.com; Web site: www.farmerboys.com. Dealmakers
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Wasa Sushi and Izakaya Wasa operate three locations throughout Orange County, CA. The modern, upscale Japanese restaurants occupy spaces of 1,500 sq.ft. to 3,000 sq.ft. in pad sites. Limited growth opportunities are sought throughout southern CA during the coming 18 months, with representation by Commercial West Brokerage. For more information, contact Phil Berry, Commercial West Brokerage, 2443 East Coast Highway, Corona Del Mar, CA 92625; 949-723-7300, Fax 949-723-7301; Email: pberry@commercialwest.com; Web site: www.commercialwest.com. De Dutch Pannekoek House Restaurants, Inc. trades as De Dutch Pannekoek House Restaurant at 20 locations throughout British Columbia, Canada. The restaurants, offering breakfast, brunch and lunch, occupy spaces of 1,800 sq.ft. to 3,500 sq.ft. in freestanding locations, malls and downtown areas. Growth opportunities are sought throughout the existing market, as well as Alberta, Canada, during the coming 18 months. For more information, contact Bill Waring, De Dutch Pannekoek House Restaurants, Inc., 8484 162nd Street, Suite 108, Surrey, British Columbia, Canada V4N 1B4; 604-543-3101, Fax 604-543-3107; Email: dedutch@dedutch.com; Web site: www.dedutch.com. Austaco, Inc trades as Taco Bell at 76 locations throughout TX. The fast food restaurants occupy spaces of 2,800 sq.ft. in freestanding locations and entertainment, outlet, power and strip centers. Plans call for seven openings throughout the existing market during the coming 18 months. Major competitors include other fast food restaurants. Preferred demographics include a population of 20,000 within seven miles. The company prefers to acquire sites. For more information, contact Dirk Dozier, Austaco, Inc., 500 North Capital of Texas Highway, Building 2, Austin, TX 78746; 512-327-4654, Fax 512-327-4027; Email: ddozier@austaco.com; Web site: D M www.austaco.com.
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Buyers and Sellers Hanley Investment Group is selling TS Marketplace, a 112,334 sq.ft. center located in Moreno Valley, CA. Food 4 Less anchors the center. The NOI is $1.173 million. The company is also selling Mission Village, a 64,750 sq.ft. center located in Fresno, CA. CVS anchors the center. The asking price is $13.29 million. The company is also selling Stella Link Center, a 99,727 sq.ft. center located in Houston, TX. The asking price is $8.155 million with a Cap rate of 8.6%. The company is also selling Bristol Street Shops, an 11,545 sq.ft. center located in Santa Ana, CA. Tenants include Fantastic Sams, Subway and Roundtable Pizza. The asking price is $5.1 million. The company is also selling Winston Plaza, a 34,850 sq.ft. strip center located in Lake Elsinore, CA. The asking price is $4.8 million. The company is also selling Tesoro Village, a 74,415 sq.ft. center located in Valencia, CA. Albertsons anchors the center. The asking price is $31.5 million. The company is also selling Garden Grove Center, a 39,180 sq.ft. center located in Garden Grove, CA. The asking price is $8.2 million. The company is also selling BiLo Grocery Center, an 82,943 sq.ft. center located in Lincolnton, NC. The asking price is $7.1 million. The company is also selling Rancherias Plaza, a 40,079 sq.ft. center located in Apple Valley, CA. The asking price is $4.85 million. The company is also selling Shops at The Marketplace on Grove, a 7,866 sq.ft. center located in Ontario, CA. The asking price is $4.7 million. For more information, contact Hanley Investment Group, 8001 Irvine Center Drive, Suite 100, Irvine, CA 92618; 949585-7610, Fax 949-585-7611; Email: info@hanleyinvestment.com; Web site: www.hanleyinvestment.com. Horn Capital Realty, Inc., on behalf of a client, is looking to acquire single-tenant properties with tenants bound to long-term NNN leases. Suitable properties feature investment-grade tenants such as Walgreens, CVS, Kohl’s, Home Depot, Walmart, Target and Advance Auto. For more information, contact Jonathan S. Horn, Horn Capital Realty, Inc., 1177 Kane Concourse, Suite 301, Bay Harbor Islands, FL 33154; 305-864-2000 Ext. 101; Email: jsh@horncapital.com. National Realty Advisors, LLC is selling a 13,200 sq.ft. former IGA situated on six acres along Route 6 in Chaplin, CT. For more information, contact David Mieczynski, National Realty Advisors, LLC, 349 Valley Street, Suite 1, Willimantic, CT 06226; 877-672-3847, Fax 877-672-3847; Email: david@nradvisors.net.
Westwood Net Lease Advisors is selling a Walgreens located along Gallatin Avenue in Nashville, TN. The tenant is bound to a lease with 17 years remaining on the term. The average daily traffic count is 25,000 vehicles. The NOI is $371,346. The asking price is $5.5 million with a Cap rate of 6.75%. The company also acquired Applewood Centre, a 101,130 sq.ft. center located at the intersection of Q Street and 96th Street in Omaha, NE. The company acquired the property from Phillips Edison. At the time of sale, the center was anchored by Hy-Vee. For more information regarding the Walgreens property, contact Jason Simon, Westwood Net Lease Advisors; 314-997-5227 Ext. 207; Email: jsimon@westwoodnetlease.com. Cohen & Co., Inc. Real Estate negotiated the sale of Watertown Mall, a 303,000 sq.ft. mall located in Watertown, SD. At the time of sale, the center was anchored by JCPenney, Herberger’s, Dunham’s Sports, OfficeMax and Hy-Vee. The company represented the seller in the transaction. For more information, contact Cohen & Co., Inc. Real Estate, 9 East 40th Street, 10th Floor, New York, NY 10016; 212-679-1222, Fax 212-679-1533. Net-Properties.com, on behalf of a client, is looking to acquire NNN restaurant and retail properties, with a focus on Austin and San Antonio, TX. Suitable properties feature tenants bound to leases with 15 years remaining on the original lease term, and are priced under $1 million. The company is also, on behalf of another client, looking to acquire restaurant properties. Suitable properties feature tenants bound to NNN leases and are priced between $1.2 million and $1.5 million. The company will also consider franchisees. For more information, contact Carolyn Wheaton, Net-Properties.com, 218 East Main Street, Salisbury, MD 21801; 410-749-8980, Fax 603-754-1600; Email: cwheaton@net-properties.com and cwheaton@rinnier.com; Web sites: www.net-properties.com and www.rinnier.com. Linear Retail Properties acquired a singlestory Charles Street Market convenience store located at the intersection of Charles Street and Mt. Vernon Street in the Beacon Hill area of Boston, MA. The company acquired the property for $4.1 million. For more information, contact Aubrey Cannuscio, Linear Retail Properties, 5 Burlington Woods Drive, Suite 107, Burlington, MA 01803; 781-273-5665 Ext. 202; Email: aubrey@linearretail.com; Web site: www.linearretail.com. www.dealmakers.net
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Marcus & Millichap Real Estate Investment Services negotiated the sale of a Bank of America located in Mt. Arlington, NJ. The property was acquired for $2.727 million with a Cap rate of 7.33%. The company also negotiated the sale of a CVS located at the intersection of Chestnut Street and South Seventh Street in Emmaus, PA. Faroq Moonda, LLC acquired the property from GVH (Emmaus), LP for $5.223 million with a Cap rate of 7.25%. The company represented the seller in the transaction. At the time of sale, the tenant was bound to a 25-year NN lease featuring five, five-year options and 8% rent escalations at each option. For more information regarding the Mt. Arlington property, contact Mark Taylor, Dean Zang, Christopher Munley, Derrick Dougherty or Peter Snell, Marcus & Millichap Real Estate Investment Services, 7200 Wisconsin Avenue, Suite 1101, Bethesda, MD 20814; 202-536-3700; Web site: www.taylorzang.com. For more information regarding the Emmaus property, contact Dean Zang or Mark Taylor. The Boulder Group is selling a Walgreens located along Cincinnati-Dayton Road in West Chester, OH. Area retail includes Walmart Supercenter. Trade-area demographics include a population earning over $100,000 as the average household income. The asking price is $5.3 million with a Cap rate of 7.75%. The company is also selling a Save-A-Lot located at the intersection of 63rd Street and Calumet Avenue in Chicago, IL. The tenant is bound to a 10-year lease with options. The asking price is $2.423 million with a Cap rate of 8.5%. For more information, contact Randy Blankstein or Jimmy Goodman, The Boulder Group, 666 Dundee Road, Northbrook, IL 60062; 847-562-0003/8500; Emails: randy@bouldergroup.com and jimmy@bouldergroup.com; Web site: www.bouldergroup.com. Keystone Realty Capital, on behalf of a client, is selling a six-story, 54,000 sq.ft. mixed-use building located along Berry Street in the Williamsburg area of Brooklyn, NY. The building is 100% occupied and features a retail component and a multifamily component. For more information, contact Patrick A. Grasso, Christopher G. McManus or E. Sherrod Brown, Keystone Realty Capital, Six Landmark Square, Stamford, CT 06901; 203-359-5672, Fax 203-359-5872; Emails: pgrasso@keystonerealtycapital.com, cmcmanus@keystonerealtycapital.com and sbrown@keystonerealtycapital.com. (continued on page fifteen) February 25, 2011
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Apparel Chains Expand Nationwide (continued from page one)
Ascena Retail Group, Inc. trades as dressbarn at 838 locations nationwide throughout 47 states. The stores, offering value-priced and career and casual apparel and accessories targeted at women aged 35 to 55, occupy spaces of 7,000 sq.ft. to 8,000 sq.ft. in community, lifestyle, outlet, power, strip and tourist centers, as well as downtown areas. Plans call for 20 to 30 openings nationwide during the coming 18 months. Preferred cotenants include grocery chains, discount department stores and fashion and soft goods retailers. The company also trades as Maurices at 758 locations nationwide. The stores, offering value-priced women’s career and casual apparel and accessories targeted at women aged 20 to 30, occupy spaces of 5,000 sq.ft. in malls and community, lifestyle, power, outlet and strip centers. Plans call for 35 to 50 openings nationwide during the coming 18 months. Typical leases run five years with four, five-year options. A vanilla shell is required. Preferred cotenants include JCPenney, Kohl’s and Target. Preferred demographics include a population of 50,000 within five miles earning $50,000 as the average household income. The company also trades as Justice at 891 locations nationwide throughout 46 states and Puerto Rico. The stores, offering trendy apparel and accessories for girls aged seven to 12, occupy spaces of 4,000 sq.ft. in malls and community, lifestyle, outlet, power and strip centers. Plans call for 20 to 30 openings nationwide during the coming 18 months. Preferred demographics include a trade-area population earning a median household income of $55,000. For more information regarding dressbarn, contact Elise Jaffe, Ascena Retail Group, Inc., 30 Dunnigan Drive, Suffern, NY 10901; 845369-4801, Email: elise.jaffe@dressbarn.com; Web site: www.dressbarn.com. For more information regarding Maurices, contact Tom Karis, 105 West Superior Street, Duluth, MN 55802; 218-727-8431 Ext. 2071; Email: tkaris@maurices.com; Web site: www.maurices.com. For more information regarding Justice, contact Alan Hochman, 8323 Walton Parkway, New Albany, OH 43054; 614-775-3500; Email: ahochman@tweenbrands.com; Web site: www.shopjustice.com. The Children’s Place operates 1,000 locations nationwide. The stores, offering children’s apparel and accessories, occupy spaces of 4,100 sq.ft. in power and regional centers. Growth opportunities are sought throughout FL during the coming 18 months, with representation by Katz page 14
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& Associates Corp. Typical leases run 10 years. A vanilla shell and specific improvements are required. Preferred cotenants include Belk, JCPenney, Kohl’s, Target and T.J. Maxx. For more information, contact David Emihovich, Katz & Associates Corp., 2300 Glades Road, Suite 460 W, Boca Raton, FL 33431; 561-361-7232, Fax 561-361-7276; Email: demihovich@dkatz.com; Web site: www.katzassociates.com. Hyman Family, LP trades as Susie’s Deals at 90 locations throughout AZ, CA, NV and UT. The stores, offering family apparel and accessories, occupy spaces of 5,000 sq.ft. to 8,000 sq.ft. in strip and value centers. Growth opportunities are sought throughout CA during the coming 18 months. Typical leases run five years with two, five-year options. A vanilla shell and specific improvements are required. Preferred cotenants include Target, Walmart, Ross Dress for Less, T.J. Maxx and grocery stores. Preferred demographics include a population of 100,000 within three miles earning $50,000 as the average household income. For more information, contact Sheri Vernon, Hyman Family LP, 620 South Wanamaker Avenue, Ontario, CA 91761; 909-510-4800 Ext. 131, Fax 909-510-4803; Email: svernon@susiesdeals.com; Web site: www.susiesdeals.com. Bedo Co. International De La Mode trades as Bedo at 23 locations internationally. The apparel stores occupy spaces of 3,400 sq.ft. in freestanding locations, malls and strip centers, as well as downtown areas. Growth opportunities are sought throughout Canada during the coming 18 months. For more information, contact Peter Nasri, Bedo Co. International De La Mode, 700 Rue Des Lauriers, St. Laurent, Quebec, Canada H4N 1W5; 514-335-2411, Fax 514-3350115. Hamrick’s, Inc. trades as Hamricks at 21 locations throughout GA, NC, SC and TN. The stores, offering family apparel, accessories, footwear and gifts, occupy spaces of 40,000 sq.ft. to 42,000 sq.ft. in freestanding locations, malls and power and strip centers. Plans call for two openings within the existing markets during the coming 18 months. The company requires site submittals to be sent via mail. For more information, contact Jake Hamrick, Hamrick’s, Inc., 742 Peachoid Road, Gaffney, SC 29342; Web site: D M www.hamricks.com. Dealmakers
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Sources of Financing Big Deals Consulting, LLC provides financing for the acquisition, construction, development, repositioning, renovation and rehabilitation of retail and mixed-use properties, as well as office, hospitality, multifamily and industrial properties nationwide, in addition to internationally for select cases. Bridge, joint-venture and mezzanine financing are also available, as well as hard-money financing on a select basis. Loans are available in amounts above $2 million featuring maximum loan-to-value ratios of 75%. For more information, contact German Chavez, Big Deals Consulting, LLC; 619677-3346; Email: projectfunding@cox.net; Web site: www.projectfundingnow.com. Mortgage Cap Financial provides financing for shopping centers as well as office, multifamily and hospitality properties nationwide. Loans are available in amounts from $1 million to $100 million. Land and construction loans are also available in amounts above $1 million. For more information, contact Richard Milford, Mortgage Cap Financial; 619-306-1400; Email: milford@commercialmortgagecap.com; Web site: www.mortgagecapfinancial.com. Malkin Strategic Capital originated a $25 million mezzanine loan toward the recapitalization of an 82,500 sq.ft. mixeduse building located along Fifth Avenue between 53rd Street and 54th Street in Manhattan, NY. The building features an office component and a retail component, with cotenants including Tommy Hilfiger. The company provides financing for the acquisition, repositioning and refinancing of retail, multifamily, office, hospitality and industrial properties nationwide, with a focus on primary and secondary markets. Loans are available in amounts ranging from $2 million to $40 million with terms of two to 10 years. For more information, contact George S. Perry or Sean M. Meehan, Malkin Strategic Capital, One Grand Central Place, 60 East 42nd Street, New York, NY 10165; 212-850-2725/2726; Emails: gsperry@malkinproperties.com and smeehan@malkinproperties.com; Web site: D M www.malkinproperties.com.
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Buyers and Sellers (continued from page eleven)
BullRealty.com Real Estate is selling a 3,459 sq.ft. Zaxby’s situated on 0.94 acres along Tara Boulevard in Jonesboro, GA. The tenant is bound to a 15-year lease commenced during 2005 featuring three, five-year options and 3% rent escalations every five years. The asking price is $1.835 million with a Cap rate of 8.5%. The company is also selling a CVS located along Tara Boulevard in Jonesboro, GA. The tenant is bound to a 20-year lease set to expire during 2017. Area retail includes Golden Corral, Arby’s, Long John Silver’s, Burger King, Wendy’s, Family Dollar and Farmers Home Furniture. Area demographics include a population of 159,531 within five miles earning $65,932 as the average household income. The average daily traffic count is 39,570 vehicles. The NOI is $213,604. The asking price is $2.28 million with a Cap rate of 9.4%. For more information regarding the Zaxby’s property, contact Nancy Miller, BullRealty.com Commercial Real Estate, 50 Glenlake Parkway, Suite 650, Atlanta, GA 30328; 404-876-1640 Ext. 118; Email: nancy@bullrealty.com; Web site: www.bullrealty.com. For more information regarding the CVS property, contact Virginia I. Wright; 404-876-1640 Ext. 134; Email: virginia@bullrealty.com. Calkain Cos. is selling a portfolio of Arby’s properties located in Roanoke Rapids, Rocky Mount and Wake Forest, NC and South Hill, VA. The tenants are bound to 20-year NNN leases set to expire during 2026. The NOI is $122,316 for the Roanoke Rapids property, $124,412 for the Rocky Mount property, $159,178 for the Wake Forest property and $144,144 for the South Hill property, The asking price is $1.747 million for the Roanoke Rapids location, $1.777 million for the Rocky Mount location, $2.273 for the Wake Forest location and $2.059 million for the South Hill location. For more information, contact Rick Fernandez, Calkain Cos.; 703-787-4714; Email: rfernandez@calkain.com; Web site: www.calkain.com. Colliers International negotiated the $5.25 million sale of a 25,825 sq.ft. Stater Bros. supermarket situated on 2.2 acres at Lakeview Towne Center, located along Yorba Linda Boulevard in Yorba Linda, CA. At the time of sale, the tenant was bound to a 10-year NNN lease and anchored the center. For more information, contact Jereme Snyder, Colliers International, 3 Park Plaza, Suite 1200, Irvine, CA 92614; 949-4740707; Email: jereme.snyder@colliers.com; Web site: www.colliers.com.
CB Richard Ellis is selling a 6,300 sq.ft. space situated on 1.5 acres along West Waterfront Drive in Homestead, PA. Area retail includes Macy’s, Target, Lowe’s Home Improvement, Giant Eagle, Dick’s Sporting Goods, Loew’s Theaters, T.J. Maxx, Marshalls and DSW. The company also negotiated the sale of White City Shopping Center and White City East Shopping Center, located at the intersection of Route 9 and Quinsigamond Avenue in Shrewsbury, MA. Charter Realty & Development Corp., as part of a joint venture with Acadia Strategic Opportunity Fund III, LLC, acquired the properties for $56 million. The company represented the buyers in the transaction. For more information regarding the Homestead property, contact Herky Pollock, CB Richard Ellis, 600 Grant Street, Suite 1400, Pittsburgh, PA 15219; 412-394-9840; Email: herky.pollock@cbre.com; Web site: www.cbre.com/pittsburgh. For more information regarding the Shrewsbury property, contact Chris Angelone, Jim Koury, Bill Moylan or Nat Heald, CB Richard Ellis/ New England, 33 Arch Street, 28th Floor, Boston, MA 02110; 617-912-7000, Fax 617912-7001; Web site: www.cbre-ne.com. Cushman & Wakefield of New Jersey, Inc. negotiated the sale of DSW Plaza at Lake Grove, a 251,222 sq.ft. community shopping center located along Middle Country Road in Lake Grove, NY. Prestige Properties acquired the center from Centro Properties for $48 million. At the time of sale, the center was fully leased and anchored by Toys “R” Us, DSW, Staples and Michaels. Tenants at the center include Golfsmith, Tuesday Morning, Lenscrafters and Houlihan’s. For more information, contact Cushman & Wakefield of New Jersey, Inc., One Meadowlands Plaza, East Rutherford, NJ 07073; 201-935-4000, Fax 201-935-0724; Web site: www.cushwake.com. Real Estate Services is selling Kiowa Village, a 46,595 sq.ft. strip center located along South Power Road in Mesa, AZ. The NOI is $112,406. The asking price is $3.675 million with a Cap rate of 11.1%. For more information, contact Ervin Myatt, Real Estate Services, PO Box 1311, Redan, GA 30074; 678-559-7883, Fax 678-5267890; Email: freshstartinvest@gmail.com. North American Realty Advisors is selling a freestanding building located in Rye, NY. For more information, contact Gena DiDonato, North American Realty Advisors, 16 School Street, Rye, NY 10580; 914-9675600 Ext. 23; Email: genadid@aol.com. www.dealmakers.net
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Aries Deitch & Endelson, Inc. is selling shopping centers located in Westchester, White Plains and Yorktown Heights, NY. For more information, contact Manny Berger or Julian Aronin, Aries Deitch & Endelson, Inc.; 914-949-2800 Ext. 115; Email: mannyberger@ade-re.com; Web site: www.ade-re.com. RJS Realty Group is selling a Walgreens located along U.S. Highway 41 in Ft. Myers, FL. The tenant is bound to a NNN lease with seven years remaining on the original lease term featuring five, five-year options. Area demographics include a population of 49,320 within three miles earning $51,429 as the average household income. The average daily traffic count is 35,500 vehicles. For more information, contact Michael Zimmerman, RJS Realty Group, 70 Southeast 4th Avenue, Delray Beach, FL 33483; 561659-9771 Ext. 4, Fax 561-659-9773; Email: michaelzimmerman@rjsrealty.com; Web site: www.rjsrealty.com. Jones Lang LaSalle negotiated the sale of Main Street at Town Center, a 113,615 sq.ft. center located along West Earnest Barrett Parkway in Atlanta, GA. Westwood Financial Corp. acquired the property. At the time of sale, David’s Bridal anchored the center. For more information, contact Kris Kooper or Margaret Caldwell, Jones Lang LaSalle, 3344 Peachtree Road, Suite 1200, Atlanta, GA 30326; 404-995-2100, Fax 404-9952184; Web site: www.joneslanglasalle.com. Voit Real Estate Services negotiated the sale of Laguna Corners, a 12,000 sq.ft. center located along Laguna Boulevard between Franklin Boulevard and Interstate 5 in Elk Grove, CA. At the time of sale, tenants at the property included Togo’s & Baskin Robbins, H&R Block and Great Clips. The company represented the seller in the transaction. For more information, contact Gary Gallelli, Voit Real Estate Services, 101 Shipyard Way, Newport Beach, CA 92663; 949-644-8648, Fax 949-644-8695; Web site: D www.voitco.com. M
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Who’s Opening and Where (continued from page eight)
Urban Outfitters, Inc. (215-454-5500) will open an 11,202 sq.ft. Anthropologie at Town Center Plaza, a 626,000 sq.ft. lifestyle center located in Leawood, KS. The store is slated to open during the summer and will join Victoria’s Secret, Bath & Body Works, Macy’s, Dick’s Sporting Goods, J. Crew, Pottery Barn, Williams-Sonoma, Coldwater Creek, Banana Republic, Gap and Ann Taylor at the center. The Limited also plans to open a 4,595 sq.ft. store at the center during the spring. The company trades as Urban Outfitters, Anthropologie, Free People, Leifsdottir and Terrain. Whole Foods Market, Inc. (512-477-4455) plans to open a Whole Foods Market in a former Hi-Lo Foods along Centre Street in the Jamaica Plain area of Boston, MA. The store will be the company’s fourth in the area. The company also plans to open a store in a former Genuardi’s at Glen Eagle Square, located along Naamans Road in Concordville, PA. The chain of specialty supermarkets currently operates 270 locations nationwide and throughout the United Kingdom.
Sur La Table, Inc. (206-613-6000) plans to open a 5,000 sq.ft. Sur La Table in a former Sony Style Store at Country Club Plaza, located along Nichols Road in Kansas City, MO. The store is slated to open during late spring. The company currently operates 75 locations, offering kitchenware, cookware, cutlery, bakeware, dinnerware and serveware, nationwide. Francesca’s Collections, Inc. (713-8641358) will open a Francesca’s Collections store at Ross Park Mall, located in Ross Township, PA. The Limited and Tumi also plan to open locations at the center. All three stores are slated to open during the spring. The company operates locations, offering women’s apparel and accessories, as well as gift items, nationwide throughout 38 states. Burguesa Burger Franchise, Inc. (214-7417376), through franchisee Eddie Burger, LLC, will open six Burguesa Burger restaurants throughout the Rio Grande Valley area of TX. The company currently operates two locations in the area, offering burgers, fries and beverages using Mexican brands, products and ingredients.
Costco Wholesale Corp. (425-313-8000) will open a 50,000 sq.ft. Costco on 16 acres along South Ashland Avenue in the Medical District of Chicago, IL. Construction on the store is slated to begin next spring with an opening projected for June 2012. The company currently operates 440 locations nationwide. Ashley Furniture, Inc. (800-477-2222) will open a 33,300 sq.ft. Ashley Furniture in a former Linens ‘N Things at SportMart Plaza, located along West Bluemound Road in Brookfield, WI. The store is slated to open during the first quarter of the year. 7-Eleven, Inc. (972-828-0711) plans to open between 15 and 20 7-Eleven convenience stores throughout Manhattan, NY by the end of 2012, and expects to operate 100 locations throughout the city within the coming five years. Aldi, Inc. (630-879-8100) plans to open an Aldi store situated on 1.5 acres along Danbury Road in New Milford, CT. The store is slated to open during late summer. The company operates 1,100 locations nationwide throughout 31 states, including D M 17 locations in CT.
Exclusives and Leasing Assignments Sullivan Hayes Cos. (860-677-5252) represents the following retailers with their expansion plans: Aldi, throughout CT, MA, NH and RI, as well as Westchester County and the Hudson Valley area of NY, seeking spaces of 16,000 sq.ft.; Aspen Dental, throughout CT, seeking sites of 3,200 sq.ft.; AutoZone, throughout CT and RI, utilizing spaces of 7,000 sq.ft.; CarMax, throughout southern New England, seeking spaces situated on 10 acres; Casual Male XL, throughout CT and western MA, seeking sites of 3,500 sq.ft.; Catherines, throughout CT, western MA and RI, seeking spaces of 4,000 sq.ft.; Checkers, throughout Hartford County, CT, seeking spaces of 800 sq.ft. to 1,500 sq.ft.; CVS, throughout Hartford and Litchfield counties in CT and Worcester County and western MA, utilizing spaces of 13,000 sq.ft.; Dollar General, throughout CT, seeking sites of 9,000 sq.ft. to 12,000 sq.ft.; Firestone, throughout northern CT and western MA, seeking sites situated on one acre; Fantastic Sams, throughout CT, seeking spaces of 1,500 sq.ft.; The Fresh Market, throughout CT and Westchester County, NY, utilizing spaces of 20,000 sq.ft. to 25,000 sq.ft.; Fashion Bug, throughout CT, western page 16
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MA and RI, seeking spaces of 6,500 sq.ft.; JoAnn Fabrics, throughout CT, utilizing sites of 25,000 sq.ft. to 35,000 sq.ft.; Lane Bryant, throughout CT, western MA and RI, seeking spaces of 8,000 sq.ft.; LA Fitness, throughout CT, western MA, RI and Westchester County, NY, seeking spaces of 40,000 sq.ft.; Panera Bread, throughout Litchfield and New Haven counties in CT, utilizing spaces of 4,500 sq.ft.; REI, throughout CT, western MA, RI and Albany, NY, seeking sites of 28,000 sq.ft.; Sovereign Bank, throughout CT, seeking spaces of 3,600 sq.ft., and Wings Over, throughout CT and MA, seeking spaces of 1,500 sq.ft. Investment Management Associates, Inc. (305-661-0110) represents the following retailers with their expansion plans: Yuzu Frozen Yogurt, throughout southeastern FL, seeking spaces of 1,200 sq.ft. to 1,600 sq.ft. in entertainment, outlet, strip and value centers, as well as downtown areas; Confucio Express, throughout southeastern FL, seeking sites of 1,000 sq.ft. to 2,000 sq.ft. in freestanding locations and strip centers; Smoothie King, throughout Broward, Miami-Dade and Palm Beach counties in FL, utilizing spaces of 600 Dealmakers
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sq.ft. to 1,600 sq.ft. in freestanding locations and entertainment, power, specialty, strip and value centers; Taco Bell, throughout FL, excluding the Orlando metropolitan area, seeking freestanding locations of 2,850 sq.ft. situated on a land area of 35,000 sq.ft.; Pizza Hut, throughout FL, excluding the Orlando metropolitan area, as well as select markets of GA, MD, PA and SC, seeking sites of 1,000 sq.ft. in outlet, specialty, strip and value centers; KFC, throughout FL, excluding the Orlando metropolitan area, seeking freestanding locations of 2,850 sq.ft. situated on a land area of 35,000 sq.ft., and RA Sushi, throughout the South Beach and Las Olas areas of Ft. Lauderdale, FL, utilizing sites of 5,000 sq.ft. in freestanding locations, downtown areas, regional malls and entertainment and specialty centers. Michael Salove Co. (215-568-2600) represents Hibachi Grill Supreme Buffet with the chain’s expansion throughout DE, NJ and PA. The restaurants are seeking spaces of 10,000 sq.ft. to 15,000 sq.ft. in freestanding locations and endcaps and inline spaces of shopping centers in dense D regional markets. M
Lead Sheet Benny’s, Inc. dba Benny’s John Monti 340 Waterman Avenue Esmond, RI 02917 401-231-1000, Fax 401-231-1080
Autmototive The 33-unit chain operates locations throughout CT, MA and RI. The automotive service centers occupy spaces of 20,000 sq.ft. to 30,000 sq.ft. in freestanding locations, strip centers and downtown areas. Growth opportunities are sought throughout the existing markets during the coming 18 months.
Cards for Less Stuart Kramer c/o First Development Corp. Realty 1328 Motor Parkway Hauppauge, NY 11749 631-234-3200 Email: christine@fdcrealty.com
Cards The 12-unit chain operates locations throughout Long Island, Queens and Staten Island, NY. The card and gift shops occupy spaces of 2,200 sq.ft. to 2,500 sq.ft. in strip centers. Growth opportunities are sought throughout the existing markets during the coming 18 months, with representation by First Development Corp. Realty. Typical leases run 10 years. A vanilla shell and specific improvements are required. Preferred cotenants include grocery stores.
Isis Maternity Ed Gerwig c/o National Commercial Brokers, Inc. 75 Second Avenue, Suite 315 Needham, MA 02494 Email: ed@nationalcommercial.com Web site: www.isismaternity.com
Child Care The five-unit chain operates locations throughout the greater Boston, MA area. The centers, offering prenatal classes, occupy spaces of 6,000 sq.ft. in freestanding locations. Growth opportunities are sought throughout MA during the coming 18 months, with representation by National Commercial Brokers, Inc. The company prefers to locate in densely-populated markets with a regional draw.
Go-Mart, Inc. dba Go-Mart David Heater 915 Riverside Drive Gassaway, WV 26624 304-364-8000, Fax 304-364-4690
Convenience The 103-unit chain operates locations throughout KY, OH, VA and WV. The convenience stores occupy spaces of 2,500 sq.ft. to 2,800 sq.ft. in freestanding locations. Growth opportunities are sought throughout the existing markets during the coming 18 months. A land area of 1.5 to two acres is required.
Hess Corp. dba Hess and Hess Express Tim O’Connor One Hess Plaza Woodbridge, NJ 07095 732-750-6000, Fax 732-750-7038 Web site: www.hess.com
Convenience The 1,400-unit chain operates locations along the eastern coast and throughout FL. The convenience stores, with gasoline facilities, occupy spaces of 600 sq.ft. to 5,500 sq.ft. in freestanding locations. Limited growth opportunities are sought along the eastern coast from southern NH to Marathon, FL during the coming 18 months. The company is site-selective.
Mac’s Curb Stores, Inc. dba Mac’s Mini-Mart Billy Carmichael PO Box 66 Laurel, MS 39441 601-428-8440, Fax 601-428-8445
Convenience The five-unit chain operates locations throughout MS. The convenience stores occupy spaces of 3,000 sq.ft. to 4,000 sq.ft. in freestanding locations. Limited growth opportunities are sought throughout the existing market during the coming 18 months. The company prefers to acquire sites.
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Lead Sheet Sunshine Food Mart Joe Fields 402 High Point Drive Cocoa, FL 32926 321-631-0245, Fax 321-633-0467
Convenience The 100-unit chain operates locations throughout FL. The convenience stores, with gasoline facilities, occupy spaces of 2,000 sq.ft. in freestanding locations. Growth opportunities are sought throughout the existing market during the coming 18 months.
Fidelity Investments Brian Silbert, Wayne Kasbar or Alissa Hodum c/o Silbert Realty & Management Co., Inc. 85A Division Avenue / PO Box 406 Millington, NJ 07946 908-604-6900, Fax 908-604-2030 Emails: info@silbertrealestate.com, wkasbar@silbertrealestate.com and ahodum@silbertrealestate.com Web site: www.silbertrealestate.com
Finance The 150-unit chain operates locations nationwide. The financial service centers occupy spaces of 4,500 sq.ft. to 6,000 sq.ft. in endcaps of shopping centers and freestanding locations. Growth opportunities are sought throughout select markets in NJ during the coming 18 months, with representation by Silbert Realty & Management Co., Inc.
24 Hour Fitness Michael Comras c/o Comras Co. 1261 20th Street at West Avenue Miami Beach, FL 33139 305-532-0433, Fax 305-532-5212
Fitness The 400-unit chain operates locations throughout AZ, CA, CO, FL, HI, KS, MD, MO, NE, NJ, NV, NY, OR, TN, TX, UT and WA. The fitness clubs occupy spaces of 35,000 sq.ft. to 45,000 sq.ft. in freestanding locations, malls and entertainment, lifestyle, power and specialty centers, in addition to urban/downtown areas. Growth opportunities are sought throughout Broward, Dade and Palm Beach counties in FL during the coming 18 months, with representation by Comras Co.
Lot-Less Close Outs, Inc. dba Lot-Less Close Outs Raymond Cohen 305 Broadway, Room 502 New York, NY 10007 212-406-0080
General Merchandise The nine-unit chain operates locations throughout NJ and NY. The general merchandise stores occupy spaces of 10,000 sq.ft. to 20,000 sq.ft. in downtown areas. Growth opportunities are sought throughout northern NJ and the New York, NY metropolitan area during the coming 18 months.
CosmoProf Greg Batista c/o Pliskin Realty & Development 179 Westbury Avenue Carle Place, NY 11514 516-997-0100 Ext. 314, Fax 516-997-7225 Email: gbatista@pliskinrealty.com Web site: www.cosmoprofbeauty.com
Hair The 1,000-unit chain operates locations nationwide and throughout Canada. The stores, offering a variety of salon furnishings and products, occupy spaces of 2,000 sq.ft. to 4,000 sq.ft. in strip centers. Growth opportunities are sought throughout Long Island and the surrounding boroughs of NY during the coming 18 months, with representation by Pliskin Realty & Development.
Ratner Cos. / Hair Cuttery dba Hair Cuttery Sara Ashton 500 Golf Tee Lane, Suite 132 Longwood, FL 32779 407-951-5569 Email: sashton@ratnerco.com Web sites: www.ratnerco.com and www.haircuttery.com
Hair The 900-unit chain operates locations throughout CT, DE, FL, IL, IN, MA, MD, NH, NJ, PA, VA, WI, WV and Washington, DC. The full-service hair salons occupy spaces of 1,000 sq.ft. to 1,400 sq.ft. in lifestyle, neighborhood, power and strip centers. Plans call for 40 openings throughout CT, DE, FL, IL, MA, MD, NH, NJ, PA, VA and Washington, DC during the coming 18 months. Typical leases run five years. A vanilla shell and specific improvements are required. Preferred cotenants include grocery stores, Target and Walmart. Preferred demographics include a population of 30,000 within three miles earning $40,000 as the average household income.
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Lead Sheet The Home Depot of Canada dba The Home Depot Robert Frodyma 1 Concorde Gate, Suite 900 Toronto, Ontario, Canada M3C 4H9 416-412-4239, Fax 416-412-4114
Home The 179-unit chain operates locations throughout Canada. The stores, offering appliances, building materials, tools and flooring, kitchen, lighting, windows and doors and outdoor items, occupy spaces of 60,000 sq.ft. to 100,000 sq.ft. in freestanding locations and power centers. Limited growth opportunities are sought throughout the existing market during the coming 18 months.
Sherwood Management Co. dba Daniel’s Jewelers Larry Sherwood PO Box 3750 Culver City, CA 90231 310-846-5629, Fax 310-846-6316
Jewelry The 61-unit chain operates locations throughout CA. The jewelry stores occupy spaces of 1,100 sq.ft. to 1,300 sq.ft. in malls and power centers. Growth opportunities are sought throughout the existing market during the coming 18 months. Typical leases run five to 10 years. Preferred cotenants include Macy’s, Sears, and JCPenney and apparel retailers.
HMV Canada, Inc. dba HMV Canada Eugene Murphy 5401 Eglinton Avenue West Unit 110 Etobicoke, Ontario, Canada M9C 5K6 416-620-4470, Fax 416-620-5064 Web site: www.hmv.com
Music The 127-unit chain operates locations throughout Canada. The stores, offering CDs, videos and DVDs, occupy spaces of 3,000 sq.ft. in regional malls, power centers and urban/ downtown areas. Growth opportunities are sought throughout the existing market during the coming 18 months.
Pet Supermarket David Emihovich and Martin Hennessy c/o Katz & Associates Corp. 2300 Glades Road, Suite 460 West Boca Raton, FL 33431 561-361-7232, Fax 561-361-7276 Email: demihovich@dkatz.com Web sites: www.katzassociates.com and www.petsupermarket.com
Pet Supplies The 100-unit chain operates locations throughout AL, CA, FL, GA, NC, SC, TN and WI. The stores, offering a full line of pet supplies and products, as well as offering vaccination services, occupy spaces of 7,500 sq.ft. to 10,000 sq.ft. in neighborhood, power and regional centers. Growth opportunities are sought throughout AL, FL, NC, SC and TN during the coming 18 months, with representation by Katz & Associates Corp.
The UPS Store Tim Weber c/o First Western Properties-Tacoma, Inc. 6402 Tacoma Mall Boulevard Tacoma, WA 98409 253-472-0404, Fax 253-472-0541 Email: tweber@firstwesternproperties.com Web site: www.fwp-inc.com
Service The 4,700-unit chain operates locations nationwide and internationally. The stores, offering shipping, postal, printing and business services, occupy spaces of 1,400 sq.ft. to 1,600 sq.ft. in power, specialty and strip centers. Growth opportunities are sought throughout WA during the coming 18 months, with representation by First Western Properties-Tacoma, Inc. Typical leases run 10 years. A vanilla shell is required. Preferred cotenants include grocery stores.
L.B. Pennyworth’s, Inc. dba L.B. Pennyworth’s Lowell Blitt 136 Boston Street Lynn, MA 01950 781-595-6710, Fax 781-593-0120
Shoes The three-unit chain operates locations throughout MA. The stores, offering family footwear, occupy spaces of 5,000 sq.ft. in freestanding locations and strip centers. Growth opportunities are sought throughout the existing market during the coming 18 months. Typical leases run seven years with options.
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Lead Sheet Shoe Carnival Jay Cohen c/o L3 Corp. 12655 Olive Boulevard, Suite 220 St. Louis, MO 63141 314-469-7400, Fax 314-576-9768 Email: jay@l3corp.net Web site: www.l3corp.net
Shoes The 316-unit chain operates locations throughout the midwestern, southern and southeastern regions of the U.S. The shoe stores occupy spaces of 10,000 sq.ft. in power and strip centers. Growth opportunities are sought throughout the St. Louis, MO metropolitan area during the coming 18 months, with representation by L3 Corp.
Omega Sports, Inc. dba Omega Sports Philip Bowman 130 South Walnut Circle Greensboro, NC 27409 336-854-0797 Ext. 106, Fax 336-299-1043 Email: pbowman@omegasports.net Web site: www.omegasports.net
Sporting Goods The 16-unit chain operates locations throughout NC. The sporting goods stores occupy spaces of 5,500 sq.ft. to 10,000 sq.ft. in lifestyle, power, strip and value centers. Growth opportunities are sought throughout the existing market, as well as SC and VA during the coming 18 months. Typical leases run five years with options. A vanilla shell and specific improvements are required. Preferred cotenants include Barnes & Noble, Marshalls, Old Navy, Target, T.J. Maxx and department stores. Preferred demographics include a trade-area population earning $50,000 as the average household income.
Papyrus Jacqueline Klinger c/o Northwest Atlantic Real Estate Services 711 Westchester Avenue, 2nd Floor White Plains, NY 10604 914-328-2222, Fax 914-328-2121 Email: jacqueline@nwatlantic.com Web site: www.nwatlantic.com
Stationery The 160-unit chain operates locations nationwide. The stationery stores occupy spaces of 900 sq.ft. to 1,500 sq.ft. in urban/downtown areas. Growth opportunities are sought throughout the New York, NY metropolitan area during the coming 18 months, with representation by Northwest Atlantic Real Estate Services.
GameStop Ian Furar c/o California Commercial Partners, Inc. 220 Newport Center Drive, Suite 18 Newport Beach, CA 92660 949-717-7711, Fax 949-717-0011 Email: ian@ccpire.com Web site: www.ccpire.com
Video The 6,500-unit chain operates locations nationwide and internationally. The video game stores occupy spaces of 1,500 sq.ft. Growth opportunities are sought throughout southern CA during the coming 18 months, with representation by California Commercial Partners, Inc. The company will only locate in centers anchored by Best Buy, Target or Walmart.
General Nutrition Centers dba GNC Sharon Knox 300 Sixth Avenue, 7th Floor Pittsburgh, PA 15222 412-288-4600, Fax 412-288-2076 Web site: www.gnc.com
Vitamins The 4,800-unit chain operates locations nationwide and internationally. The stores, offering health foods, vitamins, minerals and specialty supplements, occupy spaces of 1,000 sq.ft. to 1,400 sq.ft. in malls, specialty and strip centers and downtown areas. Growth opportunities are sought throughout the existing markets during the coming 18 months. Typical leases run five to 10 years. A vanilla shell is required. Preferred demographics include a population of 35,000 within two miles. The company is franchising.
The preceding leads have been verified by calls made to or written submittals from the respective retailers during the weeks prior to publication. Since the majority of chains featured in Lead Sheet are small in size, some changes in their expansion plans should be expected. To be included in an upcoming issue, just fax a note or call us with the details. Our fax number is (609-587-3511) and you can reach us by phone at (609-587-6200) or email at ann@dealmakers.net. page 20
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Lease Signings Centro Properties Group (212-869-3000) signed the following leases: with University Hair Salon for 1,000 sq.ft. at Tidwell Place, located at the intersection of East Tidwell Place and Airline Drive in Houston, TX; with Tindahan for 1,400 sq.ft. at Tuckernuck Square, located along Route 250/West Broad Street between West End Drive and Tuckernuck Drive in Richmond, VA; with European Wax Center for 1,550 sq.ft. at Middletown Plaza, located at the intersection of Route 35 and Kings Highway/Harmony Road in Middletown, NJ; with Allied Cash Advance for 2,000 sq.ft. at Northshore East, located at the intersection of Market Street Road and Uvalde Road in Houston, TX; with Computer Zone for 2,000 sq.ft. at Tyrone Gardens, located at the intersection of Tyrone Boulevard North/Route 19 and 9th Avenue in St. Petersburg, FL; with Hobby Town USA for 2,480 sq.ft. at Central Station, located at the intersection of Texas Avenue/State Highway 6 and Harvery Road/TX Highway 30 in College Station, TX, and with Alliance Jiu-Jitsu for 3,911 sq.ft. at Shoppes At Valley Forge, located at the intersection of Schuykill Road/Route 23 and Township Line Road in Phoenixville, PA. RHYS Commercial (203-274-9800) negotiated a 10-year lease with Massage Envy for 3,200 sq.ft. at Bishop’s Corner in West Hartford, CT. The company also negotiated a five-year lease with AT&T Mobility for 3,200 sq.ft. at The Shops at Somerset Square in Glastonbury, CT. Cotenants at the center include Talbots, Ann Taylor, Victoria’s Secret, Coldwater Creek and Starbucks. The company also negotiated a five-year lease with Hallmark Gold Crown for 4,500 sq.ft. at Southbury Plaza Shopping Center in Southbury, CT. Cotenants at the center include Stop & Shop, Kmart and Borders. Vanguard Realty, Inc. (973-443-9700) negotiated a lease with Spice Zone for 2,230 sq.ft. at Nixon Plaza, located along Route 27 in Edison, NJ. Cotenants at the center include Anna Nails and Fabulous Floors. Equity Retail Brokers (610-645-7700) negotiated the following leases at Fries Mills Plaza, located at the intersection of Fries Mill Road and Watson Drive in Washington Township, NJ: with Tayliano’s Pizza for 1,600 sq.ft.; with Body Boost Express Nutrition for 2,000 sq.ft., and with Liberty Boxing, LLC for 7,500 sq.ft. Prudential Douglas Elliman Real Estate (212891-7000) negotiated a lease with L.O.L. Kids for space along Sunset Boulevard in the West Hollywood area of Los Angeles, CA.
S.L. Nusbaum Realty Co. (757-627-8611) negotiated the following leases throughout VA: with Hummus Restaurant for 1,615 sq.ft. at Greenbrier Village in Chesapeake; with The Hair Cuttery for 1,621 sq.ft. and with Zero’s Sub’s for 1,637 sq.ft. at University Village in Norfolk; with Signs Now for 1,700 sq.ft. at Winterpock Crossing Shopping Center in Midlothian; with Evolutions Salon for 2,250 sq.ft. at Village at Swift Creek Shopping Center in Midlothian; with YY Salon for 3,000 sq.ft. along West Main Street in Richmond; with Dollar Tree for 13,711 sq.ft. at Suffolk Plaza in Suffolk, and with Grand Furniture for 30,000 sq.ft. at Best Square Shopping Center in Norfolk. The company also negotiated the following lease extensions throughout VA: with Bowles Jewelers for 1,750 sq.ft. at Suffolk Shopping Center in Suffolk; with HEA Living for 2,500 sq.ft. at Quarterpath Crossing in Williamsburg, and with Professional Beauty Supply for 3,000 sq.ft. at Lynnhaven Crossing Shopping Center in Richmond. Colliers International (727-442-7184) negotiated the following leases: with Kenny’s Liquors for 1,400 sq.ft. at Goolsby Pointe Shopping Center, located along Boyette Road in Riverview, FL; with Massage Envy for 3,000 sq.ft. at Alafaya Square, located along Alafaya Woods Boulevard in Oviedo, FL, and with iStudio Salon for 4,710 sq.ft. along Edgewater Drive in Orlando, FL and for 5,354 sq.ft. at Rialto Center, located along Sand Lake Road in Orlando, FL. The company also negotiated a sublease with Cellular Sales of Knoxville, Inc. for a 13,824 sq.ft. Verizon Wireless along Trouble Creek Road in New Port Richey, FL. Sharpe Properties (305-693-3500) negotiated a lease with Coin Laundry for a 1,400 sq.ft. space along South State Road 7 in Hollywood, FL. Kowit & Passov Real Estate Group (216-5145100) negotiated a lease with Studio Wish for 3,000 sq.ft. at Twinsburg Town Center, located in Twinsburg, OH. Cotenants at the center include Giant Eagle, Panini’s and Little Gym. The company also negotiated a lease with America’s Best Contacts & Eyeglasses for 3,500 sq.ft. at The Cascades of Brimfield Shopping Center in Kent, OH. The company also negotiated a lease with Plaza Azteca for a 7,105 sq.ft. space along Youngstown Warren Road in Niles, OH. Stark Enterprises (216-464-2860) negotiated leases with BCBG for 3,055 sq.ft. and with Anthropologie for 10,000 sq.ft. at Crocker Park in Westlake, OH. Cotenants at the development include H&M, Ann Taylor, Gap, J.Crew, Banana Republic and Abercrombie and Fitch. DM www.dealmakers.net
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Real Estate Professionals Making the News Velocity Retail Group (602-682-6020) hired Greg Valladao as head of the company’s investment brokerage practice. Prior to joining the company, he served as vice president of acquisitions and development at Pederson Group, Inc., and also specialized in investment sales at Grubb & Ellis. The company is a full-service real estate firm headquartered in Phoenix, AZ offering tenant and owner representation, investment and sale/leaseback solutions, consulting and development services for retail tenants and property owners throughout the southwestern region of the U.S.
Retail Op p o r t u n i t i e s
to make your Mark in Bowie Median Household Income over $94,532 Average Household Income over $109,161 Bowie is one of the largest cities in Maryland. Bowie is also an excellent business location, easily accessed from Washington D.C., Annapolis and Baltimore. Bowie’s proximity to these major cities brings business and workforce into the area via Routes 3, 50 and 301. Bowie has more than 90 restaurants, 200 shops, and a dozen recreation opportunities. With this winning combination of location, access and amenities your business is certain to grow and succeed. For space available details call: Bowie Plaza, Brian Greene, 703-442-4300
Main Street Market, Sam Pan, 301-657-7352
Collington Plaza, Andrew Rose, 703-442-4500 x26
Pointer Ridge Plaza, Will Collins, 571-382-1290
Hilltop Plaza – Newly Renovated! Bruce I. Levine, 410-486-0800 x116
Free State, Rich Abruscato, 301-998-8188
For more information on ALL of Bowie’s Opportunities, contact:
John Henry King, Economic Development Director, City of Bowie, Maryland 2614 Kenhill Drive, Bowie, MD 20715 301.809.3042 | fax 301.809.2315 | jhking@cityofbowie.org page 22
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Colliers International (206-223-0866) acquired The Winbury Group, a full-service real estate firm headquartered in Kansas City, MO specializing in sale and lease transaction services, real estate advisory and asset and property management services throughout the greater Kansas City area. The Winbury Group has rebranded its operations to Colliers International. The company, a subsidiary of FirstService Corp., provides real estate services through more than 480 offices nationwide and internationally. RE/MAX of New England (508-655-9400) has rebranded a four-member Keller-Williams team operating out of West Roxbury, MA. The team, headed by Diane Capodilupo, acquired a RE/Max Real Estate Center in the city, which will henceforth operate as RE/MAX Achievers and will service the West Roxbury and greater Boston, MA areas. The company provides commercial and residential real estate services out of 220 offices throughout CT, MA, ME, NH, RI and VT. Transwestern (972-774-2500) has merged its Dallas, TX office with Huff Partners. The firm will continue to operate as Transwestern Dallas. Massey Knakal Realty Services (212-6962500) hired Ellaina Dreifach as director of retail leasing for the company’s recentlyformed retail leasing services division. She will operate out of the company’s Manhattan, NY office. Prior to joining the company, she served as senior vice president of Eretz Realty, as asset manager at DRA Advisors, LLC, and as asset manager at Forest City Ratner Cos. dressbarn, Inc. (800-373-7722) has reorganized into Ascena Retail Group, Inc. The change did not alter business operations, directors or executive personnel. The company operates 2,487 locations nationwide, trading as dressbarn, Maurices and Justice. DM
Outparcels fOr sale Or lease regency Village, Orlando, fl property Information • Located at 8107 & 8191 Vineland Avenue (Vineland Ave. and International Dr.) • Pads located in front of high sales volume Publix • Across the street from Simon Properties Orlando Premium Outlets with 150 outlet stores
• Lot 6: 0.92 acres; Lot 5: 0.90 acres • Close proximity to Disney theme parks, Sea World and Universal Studio • Join retailers such as Publix, Outback Steakhouse, Walgreens and Hess • Near Interstate-4 with over 250,000 vpd • Within 4 miles over 10,988 multifamily and hotel units
shoppes at Boca Greens, Boca raton, fl property Information • Located at 19575 State Road 7, on the corner of S.R. 7 (441) and Kimberly Blvd • Size: 1 acre • Join Outback Steakhouse, Annie Sez, Denny’s Children Wear, Regions Bank, Bank Atlantic and Harmon Drug
Demographics Population 1 mile 9,764 3 mile 61,357 5 mile 151,114
Avg. HH Inc. $90,894 $94,481 $103,098
Naples south plaza, Naples, fl property Information • Located at US 41 and Rattlesnake Hammock Road • Free standing 8,800 square foot building • Superb visibility and access • Join Ace Hardware, Dollar General, Wachovia and across the street from Publix and CVS
ease
Michael Cleeman 212. 803. 5785 cleeman@cohenco.com
iture Building
Demographics Population 1 mile 7,912 3 mile 52,133 5 mile 90,260
Avg. HH Inc. $68,665 $65,122 $71,045
George W. Kleier 561.775.1300 gkleier@amcomrealty.com
IDEAL FLAGSHIP LOCATION
9 East 40th Street, New York, NY 10016
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Torrington – Torrington Parkade, a 231,000 sq.ft. community shopping center, has a divisible 3,168 sq.ft. space available along with pad sites of one acre and 1.68 acres. Big Y Supermarket and Lowe’s Home Improvement anchor the center. Tradearea demographics include a population of 85,000 earning $80,000 as the average household income. The average daily traffic count is 19,750 vehicles. For details, contact Matt Daly, Paragon Management Group, LLC, 276 Post Road West, Suite 201, Westport, CT 06880; 203221-7077 Ext. 121, Fax 203-221-7078; Email: mdaly@paragonct.com.
South Service Road, Jericho, NY 11753; 516-281-1532, Fax 516-281-1562; Email: nforelli@rosenmgmt.com.
Inc., 9 East 40th Street, New York, NY 10016; 212-803-5785 or 561-775-1300; Emails: cleeman@cohenco.com and gkleier@amcomrealty.com.
Florida Boca Raton – Shoppes at Boca Greens, located at the intersection of State Road 7 and Kimberly Boulevard, has a one-acre outlot available. Cotenants include Outback Steakhouse, Annie Sez, Denny’s Children Wear, Regions Bank, Bank Atlantic and Harmon Drug. Area demographics include a population of 151,114 within five miles earning $71,718 as the median household income. Naples – Naples South Plaza, located at the intersection of U.S. Highway 41 and Rattlesnake Hammock Road, has a freestanding 8,800 sq.ft. building available. Cotenants include Ace Hardware, Dollar General and Wachovia Bank. Area retail includes Publix and CVS. Area demographics include a population of 90,260 within five miles earning $71,045 as the average household income. Orlando – Regency Village, located at the intersection of Vineland Avenue and International Drive, has pad sites of 0.9 acres and 0.92 acres available. Cotenants include Publix, Outback Steakhouse and Walgreens. For details, contact Michael Cleeman or George W. Kleier, Cohen & Co.,
Delaware Wilmington – Miller Road Shopping Center, a 157,992 sq.ft. strip center situated on 17.4 acres at the intersection of Miller Road and Lea Boulevard, has spaces available of 2,400 sq.ft.; 4,500 sq.ft. and 8,400 sq.ft. Home Depot and Dollar Tree anchor the center. Area demographics include a population of 196,533 within five miles earning $81,442 as the average household income. The average daily traffic count is 20,210 vehicles. For details, contact Nicholas Forelli, Rosen Associates Management Corp., 33
Shopping Center Management n Leasing n Redevelopment
West Palm Beach – A 102,635 sq.ft. center located at the intersection of Forest Hill Boulevard and Jog Road has a divisible 56,000 sq.ft. former Winn-Dixie available. For details, contact Nicole Christodoulou, Commodore Realty, Inc., 30 West Mashta Drive, Suite 400, Key Biscayne, FL 33149; 786-252-4596, Fax 305-365-0800; Email: nicole@commodorerealty.com; Web site: www.commodorerealty.com.
Illinois Edwardsville – Meridian Place, a 14,000 sq.ft. strip center situated on 1.76 acres at the intersection of IL Route 157 and Meridian Road, has two spaces of 1,400 sq.ft. available. Cotenants include Elegant Brides, Treo Hair Salon and Four Muddy Paws. Area demographic include a population of 177,827 within 10 miles earning $68,404 as the average household income. The average daily traffic count is 20,000 vehicles. For details, contact David Wright, Kaplan Real Estate Co., Inc., 1000 Macklind Avenue,
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727-449-2020
Bruce Strumpf, Inc. Shopping Center Management, Leasing & Redevelopment 2120 Drew Street, Clearwater, FL 33765 727-449-2020 • Fax 727-449-2212 e-mail: lenorereynolds@brucestrumpf.com www.brucestrumpf.com
Join over 118,900 members looking to acquire, sell, lease and finance all types of commercial real estate. We’re the place to list your center’s availabilities and to find that perfect site. no Over 1.5 matter the economy, these forums make sense milliOn and, best of all, they’re free! unique visitOrs tO dealmakers.net per year!
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Space Place Illinois St. Louis, MO 63110; 314-652-7000, Fax 314-652-2228; Email: david@kaplanre.com; Web site: www.kaplanrealestate.com. Round Lake – Railroad Crossing, located along Railroad Avenue, has spaces available from 1,600 sq.ft. to 10,000 sq.ft. Area demographics include a population of 62,000 within three miles earning $68,700 as the median household income. Area draws include Lakes Bowling Alley and Round Lake Park District Sports & Cultural Center. For details, contact Lori Cole, Magee, Walleck & Associates, Inc.; 847223-4019, Fax 847-548-1916; Email: lorijohn@sbcglobal.net.
Indiana Evansville – A center located along Green River Road has spaces available from 4,450 sq.ft. to 8,250 sq.ft. Cotenants include Nail Tech and T-Mobile. Area retail includes Eastland Mall. The average daily traffic count is 37,549 vehicles. Mishawaka – A center located at the intersection of Main Street and University Drive has spaces available of 2,034 sq.ft. and 3,150 sq.ft. Cotenants include FedEx Office, Sprint, Sport Clips and America’s Best Contacts & Eyeglasses. Area retail includes University Shopping Center, featuring SuperTarget, Pier 1 Imports, Babies “R” Us, Marshalls and Petco. The average daily traffic count is 33,000 vehicles. Muncie – A center located along McGalliard Road has a 3,000 sq.ft. endcap space available. Cotenants include Jimmy John’s and Sprint. Area retail includes Muncie Mall. The average daily traffic count is 22,330 vehicles. For details, contact JR Kyes, InSite Real Estate, 1400 16th Street, Suite 300, Oak Brook, IL 60523-8854; 630-617-9108; Email: jkyes@insiterealestate.com; Web site: www.insiterealestate.com.
Maryland Glenarden – Woodmore Towne Centre, a mixed-use center, has space available. Wegmans, Costco, JCPenney, Best Buy and Petco anchor the center. Cotenants include T-Mobile, Party City, Noodles & Co., Hour Eyes, Subway, Massage Envy, PNC Bank and Sleepy’s. Area demographics include a population of 255,979 within five miles earning $75,407 as the median household income. The average daily traffic count is 203,660 vehicles. For details, contact Rachel Ross, Petrie Ross Ventures, 1919 West Street, Annapolis, MD 21401; 410-573-3800;
Maryland Email: rross@petrieross.com; www.petrieross.com.
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Hagerstown – Long Meadow Shopping Center, a 243,000 sq.ft. center located at the intersection of Route 60/Potomac Avenue and Northern Avenue, has an anchor space available. Ashley Furniture, CVS and Pennsylvania Dutch Market anchor the center. For details, contact Thomas G. Mirandi, RD Management, LLC, 810 Seventh Avenue, 10th Floor, New York, NY 10019; 212-2656600 Ext. 239, Fax 212-265-8250; Email: tmirandi@rdmanagement.com; Web site: www.rdmanagement.com. Landover – Landover Crossing has spaces available from 1,999 sq.ft. to 97,421 sq.ft. Pocomoke City – East Town Plaza has a 1,485 sq.ft. space available. For details, contact Nicholas SchumanWerb, Rivercrest Realty Investors, 8816 Six Forks Road, Suite 201, Raleigh, NC 27615; 919-518-2000, Fax 919-424-0001; Email: nschuman@rivercrestrealty.com; Web site: www.rivercrestrealty.com.
Minnesota Edina – A former Wickes Furniture situated on 3.3 acres is available. Area retail includes The Galleria Mall, The Southdale Square and The Southdale Mall. Area demographics include a population of 283,266 within five miles earning $129,446 as the average household income. For details, contact Helen Putterman, Cohen & Co., Inc. Real Estate, 9 East 40th Street, New York, NY 10016; 212-803-5776, Fax 212-679-1533; Email: putterman@cohenco.com; Web site: www.cohen-commercial.com.
Missouri Kansas City – Loma Vista Shopping Center, a 248,356 sq.ft. center situated on 9.5 acres along Blue Ridge Boulevard, has spaces available of 2,450 sq.ft.; 22,000 sq.ft. and 78,750 sq.ft. along with a 22,500 sq.ft. outlot. Save-A-Lot anchors the center and cotenants include Title Loans of America, Couzin’s Catfish, AQ Beauty Supply, Cricket, Black Moon Clothing, Dollar General, Aspects of Hair, Patriot Income Tax Service, Delmonico’s Restaurant, Sneaker Store, Bank of America and Vista Auto Mart. Area demographics include a population of 141,409 within five miles earning $46,100 as the median household income. www.dealmakers.net
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For details, contact Ira Einhorn, Lexington Realty International, 911 East County Line Road, Lakewood, NJ 08701; 888-574-8882, Fax 732-363-8006; Email: ira@lexingtonco.com; Web site: www.lexingtonco.com.
Nebraska Omaha – Shoppes at Lakeside, a 35,373 sq.ft. neighborhood shopping center situated on 3.82 acres at the intersection of 168th Street and West Center Road, has divisible spaces of 3,090 sq.ft. and 6,199 sq.ft. available along with a 1,408 sq.ft. space. The average daily traffic count is 58,700 vehicles. The asking rent is $14.75 psf with NNN fees of $6.24 psf. For details, contact World Group Commercial Real Estate, 780 North 114th Street, Omaha, NE 68154; 402-697-8899; Web site: www.worldgroupllc.com.
New Hampshire Goffstown – A 5,434 sq.ft. freestanding building situated on 1.1 acres with a drivethru along Route 114/South Mast Road is available. Area retail includes Dunkin’ Donuts, McDonald’s, Shaw’s, Big Lots, Hannaford and D’Angelo. Area demographics include a population of 216,349 within 10 miles earning $57,272 as the median household income. The average daily traffic count is 20,000 vehicles. For details, contact John Dennis, Corporate Realty Advisors, 92 High Street, Suite One, Medford, MA 02155; 781-396-5400, Fax 781-396-0888; Email: jd@cra-boston.com; Web site: www.cra-boston.com.
New Jersey Brick – A 7,280 sq.ft. strip center situated on 0.6 acres along Brick Boulevard has a 1,350 sq.ft. space available. Cotenants include Hombre Salon and We Buy Gold. Area demographics include a population of 176,266 within five miles earning $83,462 as the average household income. The average daily traffic count is 33,909 vehicles. Forked River – Village Green, a 12,000 sq.ft. strip center situated on 1.5 acres, has a 1,000 sq.ft. space available. Cotenants include Wireless Zone. Area demographics include a population of 42,619 within five miles earning $79,256 as the average household income. The average daily traffic count is 18,000 vehicles. Tinton Falls – A 4,500 sq.ft. freestanding building situated on 0.33 acres at the intersection of Newman Springs Road (continued on page twenty-six) February 25, 2011
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and Shrewsbury Avenue has a 3,000 sq.ft. space available. Area demographics include a population of 127,070 within five miles earning $153,358 as the average household income. The average daily traffic count is 37,000 vehicles. For details, contact Cherylynn Elmer, Jeffery Realty, Inc. 116 Route 22 East, North Plainfield, NJ 07060; 908-668-9600, Fax 908668-5225; Email: celmer@jefferyrealty.com; Web site: www.jefferyrealty.com. Marlton – Tri-Towne Plaza, a 176,519 sq.ft. center located at the intersection of Route 70 and Plymouth Drive, has an anchor space available. Cotenants include Superfresh. Mt. Olive – Pad sites are available. Area retail includes Walmart, Sam’s Club and T.J. Maxx. Old Bridge – A&P Shopping Center, a 64,920 sq.ft. center located at the intersection of Route 9 and Ferry Road, has a divisible 4,000 sq.ft. outlot available. Williamstown – Williamstown Shopping Center, an 85,000 sq.ft. center located at the intersection of Route 42/Black Horse Pike and Main Street, has anchor space available. Cotenants include CVS, Dollar General and Fashion Bug. For details, contact Thomas G. Mirandi, RD Management, LLC, 810 Seventh Avenue, 10th Floor, New York, NY 10019; 212-2656600 Ext. 239, Fax 212-265-8250; Email: tmirandi@rdmanagement.com; Web site: www.rdmanagement.com.
New York Brooklyn – A building located at the intersection of Berry Street and North 3rd Street has a 2,600 sq.ft. ground-floor space and a 22,000 sq.ft. lower-level space available. Area retail includes Duane Reade and HSBC. For details, contact Benjamin Fox and Josh Siegelman, Winick Realty Group, LLC, 655 Third Avenue, 8th Floor, New York, NY 10017; 212-792-2605/2613, Fax 212-792-2660; Emails: bfox@winick.com and jsiegelman@winick.com; Web site: www.winick.com. Farmingdale – A 21,000 sq.ft. freestanding building located at the intersection of Route 110 and Route 109 is available. For details, contact Bob Huhem, Majestic Property Affiliates, Inc., 60 Cutter Mill Road, Suite 303, Great Neck, NY 11757; 516-466-3100, Fax 516-466-3132; Email: needspace@majprop.com; Web site: www.majprop.com. page 26
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Advance – Kinderton Place has a 1,773 sq.ft. space available. Chapel Hill – Timberlyne has spaces available from 1,201 sq.ft. to 2,010 sq.ft. Charlotte – Archdale Marketplace has spaces available from 1,200 sq.ft. to 3,971 sq.ft. Also, Royal Plaza has spaces available from 1,259 sq.ft. to 7,553 sq.ft. Durham – Parkway Plaza has spaces available from 906 sq.ft. to 3,041 sq.ft. Also, The Village has spaces available from 2,531 sq.ft. to 11,488 sq.ft. Forest City – Hillside Plaza has a 3,016 sq.ft. space available. Hendersonville – Highlands Square has spaces available from 2,508 sq.ft. to 8,016 sq.ft. Raleigh – Millbrook Collection has spaces available from 1,069 sq.ft. to 2,789 sq.ft. Siler City – Chatham Crossing has spaces available of 1,998 sq.ft. and 4,007 sq.ft. Smithfield – Smithfield Plaza has spaces available of 1,514 sq.ft. and 3,023 sq.ft. Taylorsville – Spaces from 1,168 sq.ft. to 8,537 sq.ft. are available. Winston-Salem – Hanes Commons has spaces available of 1,117 sq.ft. and 18,294 sq.ft. Also, Oak Summit has spaces available from 5,028 sq.ft. to 34,912 sq.ft. For details, contact Nicholas SchumanWerb, Rivercrest Realty Investors, 8816 Six Forks Road, Suite 201, Raleigh, NC 27615; 919-518-2000, Fax 919-424-0001; Email: nschuman@rivercrestrealty.com; Web site: www.rivercrestrealty.com.
has a 3,500 sq.ft. space available. Food Lion and Roses anchor the center. Cotenants include Sears, It’s Fashion Metro, Panda China, V&N Nails, Michael’s Studio One, Pino’s Pizza, Blockbuster Video and Carolina Quick Care. Area demographics include a population of 30,000 within five miles earning $44,000 as the median household income. For details, contact Eric Frankel, Lexington Realty International, 911 East County Line Road, Lakewood, NJ 08701; 732-415-6882, Fax 732-3638006; Email: eric@lexingtonco.com; Web site: www.lexingtonco.com.
Charlotte – Northlake Village, located at the intersection of W.T. Harris Boulevard and Statesville Road, has spaces available from 1,200 sq.ft. to 14,000 sq.ft. Area retail includes Northlake Mall. Area demographics include a population of 378,000 within 10 miles. The average daily traffic count is 37,000 vehicles. For details, contact Dale Tweedy, Centdev Properties, 16930 West Catawba Avenue, Suite 260, Cornelius, NC 28031; 704-895-1535 Ext. 7003; Email: dtweedy@centdev.com; Web site: www.centdev.com. Durham – The Shoppes at Lakewood, an 82,453 sq.ft. center situated on 9.5 acres along Chapel Hill Road, has spaces available of 1,200 sq.ft.; 2,400 sq.ft. and 3,500 sq.ft. Food Lion anchors the center and cotenants include Dollar General, Beauty World, It’s Fashion Metro, Red Sea Fish & Chicken, El Salvador Restaurant, African Land, Bar & Grill, Liberty Tax and Tutor Time. Area demographics include a population of 157,396 within five miles earning $48,130 as the median household income. Roanoke Rapids – Great Falls Plaza, a 120,646 sq.ft. center situated on 14.5 acres along Highway 158/Julian R. Allsbrook Highway, Dealmakers
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Lumberton – Northeast Plaza, a 54,511 sq.ft. center located at the intersection of State Highway 41 and Harrill Road, has spaces available of 1,300 sq.ft. and 2,611 sq.ft. Food Lion anchors the center and cotenants include H&R Block, Dollar General, Thomas’ Pizza & Subs and J&L Laundromat. Area demographics include a population of 42,238 within seven miles earning $47,355 as the average household income. The average daily traffic count is 10,000 vehicles. For details, contact Neal Sadler, Wheeler Real Estate Co., Riversedge North, 2529 Virginia Beach Boulevard, Suite 200, Virginia Beach, VA 23452; 757-627-9088, Fax 757627-9081; Email: neal@wheelerrec.com; Web site: www.wheelerint.com.
Ohio Marietta – Lafayette Plaza, a 138,093 sq.ft. strip center situated on 10 acres, has spaces available of 2,400 sq.ft. and 18,900 sq.ft. Peebles, Jo-Ann Fabrics, Family Dollar and Hibbett Sports anchor the center. Cotenants include H&R Block, We Luv Pets, Little Caesar’s, Hallmark, Farm Credit, AT&T Mobility and Curves. Area demographics include a population of 29,050 within five miles earning $56,900 as the average household income. For details, contact Todd Gordon, Gordon Realty, LLC, 2139 Balsan Way, West Palm Beach, FL 33414; 877-218-1322, Fax 888465-3394; Email: tgordon209@aol.com. Parma – A center has a 3,500 sq.ft. space available. Cotenants include Verizon Wireless, Moe’s Southwest Grill and Scoreboard Hair Cuts. Area retail includes Parmatown Mall. For details, contact JR Kyes, InSite Real Estate, 1400 16th Street, Suite 300, Oak (continued on page twenty-eight)
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Brook, IL 60523-8854; 630-617-9108; Email: jkyes@insiterealestate.com; Web site: www.insiterealestate.com.
Pennsylvania Erie – A center located off Peach Street has spaces available from 3,000 sq.ft., including a divisible endcap of 8,400 sq.ft. Cotenants include T-Mobile and The Exchange. The average daily traffic count is 15,000 vehicles. For details, contact JR Kyes, InSite Real Estate, 1400 16th Street, Suite 300, Oak Brook, IL 60523-8854; 630-617-9108; Email: jkyes@insiterealestate.com; Web site: www.insiterealestate.com. Hanover – Grandview Shopping Center, a 10,000 sq.ft. strip center, has spaces available of 1,600 sq.ft.; 4,000 sq.ft. and 4,400 sq.ft. Cotenants include Nature’s Pet Place, Edward Jones, Wine & Spirits, My K9 Buddy and Great Clips. The asking rent is $14 psf. For details, contact Ryan A. Myers, ROCK Commercial Real Estate, 221 West Philadelphia Street, Suite 19, York, PA 17401; 717-854-5357, Fax 717-854-5367; Email: rmyers@rockrealestate.net; Web site: www.rockrealestate.net.
Rhode Island North Kingstown – Hunt River Commons, a 148,126 sq.ft. center located at the intersection of Highway 402/Frenchtown Road and Route 1/Post Road, has spaces available from 1,400 sq.ft. to 10,000 sq.ft. Stop & Shop, Marshalls and Ocean State Job Lot anchor the center. Cotenants include GameStop, Pak Mail and GNC. Area demographics include a population of 62,454 within five miles earning $91,170 as the average household income. For details, contact Charles Davis, Centro Properties Group, 131 Dartmouth Street, Third Floor, Boston, MA 02116; 203-2561901; Email: charles.davis@centroprop.com; Web site: www.centroprop.com.
South Carolina Myrtle Beach – A 14.4-acre parcel located along Loyola Drive is available. Area retail includes Walmart, Bojangle’s, Taco Bell, Denny’s, Lowe’s Home Improvement and Office Depot. Area demographics include a population of 32,000 within five miles. The average daily traffic count is 100,000 vehicles. page 28
February 25, 2011
The
South Carolina
Texas
For details, contact David Johnson, Piedmont Cos., Inc.; 980-241-6090; Email: davidj@piedcorp.com.
Center, a 46,210 sq.ft. center located at the intersection of FM 2094/Marina Bay Drive and FM 518/Davis Road, has spaces available of 2,100 sq.ft. and 3,780 sq.ft. Cotenants include Platinum Salon, Embroidery Images, Hurricane Bicycles, Happy Nails, Pizza King, Fiona Bakery, Subway and Spa at South Shore. Area demographics include a population of 147,239 within five miles earning $81,613 as the average household income. The average daily traffic count is 30,000 vehicles. For details, contact Bruce Wallace or Jenny Seckinger, Colliers International, 1300 Post Oak Boulevard, Suite 200, Houston, TX 77056; 713-830-2192 or 713-835-0035; Emails: bruce.wallace@colliers.com and jenny.seckinger@colliers.com; Web site: www.colliers.com.
West Columbia – Westland Square, a 62,735 sq.ft. center located at the intersection of Sunset Boulevard and North Hook Avenue, has spaces available of 1,600 sq.ft.; 2,400 sq.ft. and 2,670 sq.ft. along with two spaces of 2,310 sq.ft. Food Lion anchors the center and cotenants include Palmetto Quality Dry Cleaners, Booze Barn, Check ‘n Go, Family Dollar, Splendid China Buffet and First Nails. Area demographics include a population of 127,272 within five miles earning $53,010 as the average household income. The average daily traffic count is 26,500 vehicles. For details, contact Neal Sadler, Wheeler Real Estate Co., Riversedge North, 2529 Virginia Beach Boulevard, Suite 200, Virginia Beach, VA 23452; 757-627-9088, Fax 757627-9081; Email: neal@wheelerrec.com; Web site: www.wheelerint.com.
Tennessee Murfreesboro – Broad Street Centre, a 205,759 sq.ft. strip center situated on 18 acres at the intersection of Route 41/Northwest Broad Street and West Clark Boulevard, has a 5,652 sq.ft. space available along with a 2,170 sq.ft. outlot. Kmart, Tuesday Morning, Dollar Tree and Big Lots anchor the center. Cotenants include Cato, Payless ShoeSource, Hooters, CitiFinancial, Arby’s and Sun Loan. Area demographics include a population of 98,258 within five miles earning $59,833 as the average household income. For details, contact Sandy Vita, Vita & Vita Realty Corp., 277 Fairfield Road, Fairfield, NJ 07004; 973-227-5233; Email: sandy@vitarealty.com; Web site: www.vitarealty.com.
Texas Baytown – San Jacinto Court Shopping Center, a 54,791 sq.ft. center located at the intersection of Garth Road and Cedar Bayou Lynchburg Road, has spaces available of 1,875 sq.ft.; 2,250 sq.ft. and 2,979 sq.ft. Fitness Connection anchors the center and cotenants include Domino’s Pizza, Shogun Japanese Restaurant, Sports Clips and Bayou City Wings. Area demographics include a population of 94,975 within five miles earning $61,662 as the average household income. The average daily traffic count is 24,760 vehicles. League City – Lakeside Shopping Dealmakers
www.dealmakers.net
Virginia Bluefield – Ridgeview Plaza has spaces available of 2,081 sq.ft. and 30,012 sq.ft. Martinsville – Mountainview Plaza has a 3,010 sq.ft. space available. Radford – Peppers Ferry Centre has a 2,776 sq.ft. space available. South Boston – Spaces from 1,202 sq.ft. to 5,013 sq.ft. are available. For details, contact Nicholas SchumanWerb, Rivercrest Realty Investors, 8816 Six Forks Road, Suite 201, Raleigh, NC 27615; 919-518-2000, Fax 919-424-0001; Email: nschuman@rivercrestrealty.com; Web site: www.rivercrestrealty.com. Christiansburg – Spradlin Farm, a 181,055 sq.ft. center located at the intersection of U.S. Highway 460 and Spradlin Farm Road, has spaces available from 1,050 sq.ft. to 8,000 sq.ft. T.J. Maxx, Big Lots, Barnes & Noble and Michaels anchor the center. Cotenants include Rugged Warehouse, Rack Room Shoes, GameStop, Chick-fil-A and Pier 1 Imports. Area retail includes Home Depot and Target. Area demographics include a population of 49,033 within five miles earning $59,380 as the average household income. Culpeper – Culpeper Town Square, a 132,883 sq.ft. center located along Route 15/Route 29/James Madison Highway, has a 2,176 sq.ft. space available along with an 11-acre pad site. Food Lion, Goodwill Industries and Tractor Supply Co. anchor the center. Cotenants include Aaron’s and Family Dollar. Area demographics include a population of 128,994 within 20 miles earning $68,605 as the average household income. (continued on page thirty)
d o o g g n i k o o l s i 201 Rep ortin g The Nat ion’ s Wee kly New s on XLIII Ret ailin g & Ret ail Rea l Esta te
Volume XXV No.
Apparel Chains Exp and
May 22-25, 2011 The Dealmakers May 27th issue
distributed at RECon The Global Retail Real Estate Convention in Las Vegas, NV, delivers your advertising message to the real decision makers. Our readers respond and our advertisers get results. SET THE STAGE Book appointments in advance by placing your ad in The Dealmakers May 13th pre-show issue, telling everyone you’re ready to make deals!
November 12, 2010
Nationwide
Eileen Fisher, Inc. FEaTuRiN trades as Eileen Fisher, g Fisher Co. Store, Eileen Fisher Boutiq Eileen Jos. A. Bank Clothiers, Inc. trades as Jos. Eileen Fisher Lab ue and Bank Clothie Store at 52 locatio ICSC Southeast Confe A. rs at 494 locations ns throughout AZ, CA, CO, CT, nationwide. The rence stores, offering men’s FL, IL, MA, MD, MI, NJ, NM, of apparel, occupy New Construction NY, OR, PA, VA, spaces 4,000 sq.ft. to 4,500 WA and Washington, Century Retail is sq.ft. in lifestyle stores, offering women DC. The special developing a and ty 375,000 centers and urban/ ’s apparel, occupy sq.ft. mixed-u of 1,000 sq.ft. to downtown areas. in Avondale Estates, se project 2,500 sq.ft. in upscal spaces Growth opportunities GA........... Pg. 3 are lifestyle centers and downtown areas. e malls, major metropolitan market sought throughout Observations & Convers opportunities are s nationwide during Growth the comin ations Pg. 4 sought nationwide g 18 months. Preferr during the includ coming 18 month ed demographics Profile s. e a population For more inform Real Estate Southea miles earning $90,00 of 150,000 within five st, LLC ....... Pg. ation, contact Karen 6 0 as the average househ Eileen Fisher, Inc., Gray, income. old Two Bridge Street, The company will Buyers & Sellers Irvington, in malls NY 10533; 914-59 also consider locatin Coyote GRF|Inv 1-5700, Fax 914-59 g and factory outlet estors, LLC Web site: www.e centers 1-8900 and . ; Garrison For more inform Investm ileenfisher.com. ation, contact Joe acquired six centers ent Group Jos. A. Bank Clothie throughout Foley, AL, GA and NC ............ rs, Inc., 500 Hanov American Eagle ........... Pg. 8 Hampstead, MD er Pike, Outfitters, Inc. 21074 trades as 443-50 ; 443-508-4871, American Eagle Thalhimer is selling Fax Outfitt 8-4799; Email: an 88,298 sq.ft. center in Richmon jfoley@jos-a-bank.co nationwide and throug ers at 950 locations Web d, VA .... Pg. 15 site: www.josbank m; hout Canada and .com. Rico. The stores, Puerto Openings offerin casual apparel, footwe g men’s and women’s Pretty Urban Outfitters Girl ar and accessories, to open in Memphis, TN ............ spaces of 6,500 occupy and NY. operates 20 locations throughout sq.ft. .............. Pg. 10 NJ The stores, offerin areas. Limited growth in malls and downtown appare g discounted juniors l, occupy spaces JCPenney to open ’ opportunities are three stores of 3,500 sq.ft. to nationwide during sought sq.ft. in during 15,000 2011........................ the outlet, strip, tourist ..... Pg. 12 company also trades coming 18 months. The as well and value centers , as as Food Retailers Expand nationwide and throug aerie at 128 locations are sought urban areas. Growth opportunities LaRosa’s plans to hout Canada. The throughout AL, IL, enter offering women stores, during NJ, NY and PA market ........................ the NC ’s intimate appare the coming ............. Pg. 13 l, spaces of 4,500 18 months, with sq.ft. in malls. Limited occupy representation by Eretz, Sources of Financin Ltd. Typical leases opportunities are growth 10 years. g sought nationwide run A vanilla shell is The Washington during the cotena coming 18 month required. Preferred provided financin Trust Co. s. nts include Target g and T.J. Maxx. Major For more inform centers in MA and for shopping competitors includ RI ............... Pg. ation, contact e Rainbow Shops, 16 Cortazzo, Americ Michael and Ross CitiTrends an Dress for Less. Exclusives 150 Thorn Hill Drive, Eagle Outfitters, Inc., For more Cypress Retail Group Warrendale, PA represents 724-779-5555, Fax 15095; Eretz, Ltd., information, contact Ellaina Dreifac retailers through th h, 724-779-5580; Web out 5916 select markets in CA ............ www.ae.com and sites: 646-457-9837 18 Avenue, Brooklyn, NY 11204; .............. Pg. 16 www.aerie.com. ; Email: ellaina@eretzltd .com. In
ThIs Issue coN TaIN
(continued on page
fourteen)
s INformaTIo * Retailers opera ting 31,381 locati N oN: ons with plans * Real estate value to open 2,246 d in excess of $80 sites million to be boug * Leasing activit ht, sold & finan y on over 4.9 millio ced n sq.ft. of retail properties
Important News Please Expedite
Postmaster: Period
ical
the News Newmark Knight Cynthia Groves Frank hired managing director, as senior consulting.... Pg. 17
Lease Signings S.L. Nusbaum negotiated leases
Realty Co. throughout VA Pg. 18 Lead Sheet Card$mart seeking stores nationwide ............ .................. Pg. 19 Shoe Sensation to open locations throughout AR, IA, MI, OH, PA, TN and IL, IN, KY, WV ......... Pg. 22 Space Place ............ ................. Pg. 23 Most Valuable Players ............. Pg. 30
For more news go www.dealmakers. to: net Mobile Access Code: 111210_CS3.indd
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1
10/22/2010 10:38:53 AM
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(continued from page twenty-eight)
For details regarding the Culpeper property, contact Jordan Claffey, Centro Properties Group, Two Tower Bridge, One Fayette Street, Suite 300, Conshohocken, PA 19428; 610-834-7285; Email: jordan.claffey@centroprop.com; Web site: www.centroprop.com. For details regarding the Christiansburg property, contact Craig Sherby; 610-834-7287; Email: craig.sherby@centroprop.com. Fairfax – Fairfax Shopping Center, a 78,111 sq.ft. center located along Fairfax Boulevard, has spaces available from 1,262 sq.ft. to 4,771 sq.ft. Direct Furniture anchors the center and cotenants include Artie’s Lock & Key, Patriot’s Café, National Carpet & Rug, Amity Meat & Grocery, Minerva Indian Cuisine, East Coast Board Shop, Soccer Pro, Crystal Barber Shop, Liberty Tax Service, Maryam Flowers, Baskin Robbins, Pit Stop 29 and Hooters. Area retail includes Safeway, PetSmart, Staples and Home Depot. Area demographics include a population of 101,371 within three miles earning $132,060 as the average household income. Falls Church – Willston Centre II, a
Virginia
Virginia
127,449 sq.ft. center located at the intersection of Patrick Henry Drive and Arlington Boulevard/ Route 50, has spaces available from 1,253 sq.ft. to 2,190 sq.ft. Safeway anchors the center and cotenants include XO Taste Restaurant, Shop Inn Convenience, Frameworks, BB&T, Sally Beauty Supply, Capelli’s Hair Skin Nails, Botanica Tres Potencias, Dollar City, Fashion K City, Sunlight Nail Supply, Rent-A-Center, Five Pines Restaurant, Jerry’s Subs & Pizza, Subway, Domino’s Pizza, El Pike Restaurant, Popeye’s, Ria Financial, Nasa Nails, Goodwill Industries, Taco Baja and State Farm Insurance. Area retail includes Target and PetSmart. Area demographics include a population of 216,432 within three miles earning $116,474 as the average household income. The average daily traffic count is 67,000 vehicles. For details regarding the Fairfax property, contact Rich Sutphin, Regency Centers; 703-442-4310; Email: richsutphin@regencycenters.com; Web site: www.regencycenters.com. For details regarding the Falls Church property, contact Brian Greene; 703-442-4331; Email: briangreene@regencycenters.com.
Richmond – Food Lion Plaza, located at the intersection of Route 1/Jefferson Davis Highway and Chippenham Parkway, has outlots available. For details, contact Thomas G. Mirandi, RD Management, LLC, 810 Seventh Avenue, 10th Floor, New York, NY 10019; 212-2656600 Ext. 239, Fax 212-265-8250; Email: tmirandi@rdmanagement.com; Web site: www.rdmanagement.com.
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Washington, DC Washington, DC – Brookland Plaza, located at the intersection of Michigan Avenue and 10th Street Northeast, has a 4,400 sq.ft. space available. Area draws include Trinity College and Catholic University. Area demographics include a population of 687,836 within five miles earning $82,481 as the average household income. The average daily traffic count is 37,350 vehicles. For details, contact John Camp, Oxford Chase Retail, 11921 Rockville Pike, Suite 103, Rockville, MD 20852; 301-255-0099 Ext. 102; Email: john.camp@oxfordchase.net; Web site: www.oxfordchase.net. DM
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February 25, 2011
The
Dealmakers
www.dealmakers.net
NOTHING FANCY IS GOOD BUSINESS IS GOOD BUSINESS
It’s as simple as bread and butter. At Cedar, we own, manage and operate Bread & Butter Shopping Centers® in key locations throughout the Northeast and Mid-Atlantic Coastal states. Anchored primarily by supermarkets which are dominant in their respective markets and which have long remaining lease terms, these properties present predictable and strong
Cedar Shopping CenterS, inC.
cash flows. The dominant supermarkets, in turn, drive traffic for
DEvElOpErS, OwNErS AND MANAGErS
other tenants in their shopping centers. Such strength and
OF BrEAD & BUTTEr SHOppING CENTErS®
predictability are among the necessities of business success.
www.cedarshoppingcenters.com
Great Opportunities in DLC’s Mid-Atlantic Portfolio!
Maryland
Square Feet Available
Anchors
Eastover Shopping Center - Oxon Hill
1,000 - 4,320
Giant Food, Anna’s Linens
Loch Raven Plaza - Towson
3,900 - 7,500; 26,648
Dollar Tree, Firestone
Mount Clare Junction - Baltimore
820 - 6,000; 11,350; 15,655; 58,336
Family Dollar, Simply Fashions
Oxon Hill Plaza - Oxon Hill
1,500; 3,500
Shoppers Food Warehouse, Family Dollar
Shoal Creek Mall - Cambridge
1,350 - 3,522; 13,875
Walgreens, Advance Auto
Takoma Langley Crossroads - Takoma Park
986 - 1,750; 12,250
Aldi, Walgreens Coming Soon!
Travilah Square Shopping Center - Rockville
950 - 2,982
7 Eleven, Pak Mail
Century Square Shopping Center - West Mifflin
1,600 - 4,000; 8,000; 65,000
Shop ‘N Save, Dunham’s Sports
Levittown Town Center - Levittown
2,230 - 2,700; 10,000
Wal-Mart Supercenter, Ross
Shops at Aramingo - Philadelphia
1,600
Save-A-Lot, Dollar Tree
Cypress Point - Virginia Beach
1,003 - 3,023; 6,030
Farm Fresh, Family Dollar
Ridgewood Farm - Salem
336 - 2,100; 5,500
Kroger
Southwest Plaza - Roanoke
740 - 1,800; 11,345
Food Lion
The Village Courts - Lynchburg
549 - 1,723
Kroger
West Broad Commons - Richmond
1,200 - 6,500; 13,000
Food Lion
Williamsburg Shopping Center - Williamsburg
1,580; 2,109; 28,000
Bloom, Marshall’s, Stein Mart
Pennsylvania
Virginia
NEW LOOK. SAME DEALMAKERS.
For additional leasing information contact: Virginia centers - Chris Ressa, 914.304.5642 or cressa@dlcmgmt.com Maryland/Pennsylvania centers - Mid-Atlantic Leasing Office, 410.821.0303 www.dlcmgmt.com/mid-atlantic
Visit us at the ICSC Mid-Atlantic Deal Making • February 23rd • Booth 526