Reporting The Nation’s Weekly News on Retailing & Retail Real Estate
Volume XXIV No. XI
March 20, 2009
Supermarket Chains Expand Nationwide Save-A-Lot operates 1,180 locations nationwide. The supermarkets, carrying a limited assortment of grocery items, occupy spaces of 14,000 sq.ft. to 16,000 sq.ft. in strip and value centers in addition to downtown/urban and freestanding locations. Plans call for 60 openings throughout the existing market during the coming 18 months. Typical leases run five years. A vanilla shell and specific improvements are required. Preferred cotenants include value retailers. Preferred demographics include a population of 50,000 within a threemile radius earning an average household income of $40,000. Major competitors include Aldi. A land area of two acres is required for freestanding locations. The company is franchising. For more information, contact Fred Rudolph, Save-A-Lot, 100 Corporate Office Drive, Earth City, MO 63045; 314-264-7804, Fax 314-2647885; Web site: www.save-a-lot.com. Jons Markets, Inc. trades as Jons Marketplace at 14 locations throughout CA. The family-owned supermarkets occupy spaces of 20,000 sq.ft. to 40,000 sq.ft. in freestanding locations and strip centers. Growth opportunities are sought throughout southern CA, including Los Angeles, Orange and Ventura counties, during the coming 18 months. For more information, contact John Berberian, Jons Markets, Inc., 5315 Santa Monica Boulevard, Los Angeles, CA 90029; 323-460-4646, Fax 323-962-2754; Email: corp@jonsmarketplace.com; Web site: www.jonsmarketplace.com.
Roundy’s Supermarkets operates 152 locations throughout MN and WI. The upscale supermarkets, offering a full line of grocery items, occupy spaces of 65,000 sq.ft. to 80,000 sq.ft. in downtown/urban and suburban locations. Growth opportunities are sought throughout the Chicago, IL metropolitan area during the coming 18 months, with representation by Witherell Real Estate. For more information, contact Andy Witherell, Witherell Real Estate, 850 West Jackson, Suite 701, Chicago, IL 60607; 773-991-4932; Email: andy@witherellrealestate.com; Web site: www.witherellrealestate.com. Thompson Hospitality trades as Marvelous Market operates 11 locations throughout VA and Washington, DC. The Europeanstyled quick service markets occupy spaces of 1,000 sq.ft. to 2,000 sq.ft. in downtown/ urban and suburban locations. Plans call for three to five openings during the coming 18 months. Preferred cotenants include upscale retail and convenience stores. The company prefers to locate in areas with high daily traffic counts. For more information, contact Shawn O’Quinn, Thompson Hospitality, 505 Huntmar Park Drive, Suite 350, Herndon, VA 20170; 703-964-5500, Fax 703-964-0199; Email: soquinn@thompsonhospitality.com; Web site: www.marvelousmarket.com. (continued on page fifteen)
This issue contains information on:
* Retailers operating 18,357 locations with plans to open 1,378 sites * Real estate valued in excess of $85.57 million to be bought, sold & financed * Leasing activity on over 11.932 million sq.ft. of retail properties
Important News Please Expedite
Postmaster: Periodical
Featuring ICSC Indiana & North Florida Idea Exchange Buyers & Sellers Cohen Commercial Properties looks to acquire centers in the Mid-Atlantic, Midwest, Northeast and Southeast........ Pg. 3 Hoff Realtors looks to acquire properties throughout northwestern IN..................... Pg. 9 Profile|Concord Mall............ Pg. 4 Openings Meijer will open a location in Delaware, OH during May.... Pg. 5 Goodwill will open five stores annually throughout the Chicago metropolitan area for the next four years................. Pg. 6 In The News Party City names Doug Calvin as senior director of real estate.............................. Pg. 6 Lease Signings LaKritz-Weber negotiated a lease with Jimmy John’s for space in Battle Creek, MI....... Pg. 7 New Construction Champion is developing Marley Park Square, a mixed-use center located in Surprise, AZ.............. Pg. 8 Exclusives Main & Main, Inc. represents a number of tenants with their expansion plans throughout AZ and southern CA.............. Pg. 9 Food Retailers Expand Carino’s Italian looks to expand nationwide................ Pg. 10 Leadsheet Fairway Discount Store looks for sites throughout MI........... Pg. 11 Space Place........................... Pg. 15
For more news go to: www.dealmakers.net
LAMAR SHOPPING CENTER SPACE AVAILABILITIES LAMAR COOPERATES WITH BROKERS
DAYTON, OH
ANDERSON, SC
ROCK HILL, SC
CHARLESTON, SC
OLD TIME POTTERY, UNITED ART, ARROW WINE & SPIRIT, HOMETOWN BUFFET
ANDERSON PAVILION 64,221 S.F. GLA END CAP AVAILABLE AGGRESSIVE RENTS
MARKET ON CHERRY RD. 129,518 S.F. GLA OUTPARCEL AVAILABLE +/- 0.8 Acres
WEST ASHLEY SHOPPES 136,260 S.F. GLA OUTPARCEL AVAILABLE +/-1.49 ACRES
PUBLIX, POSTNET CHICK-FIL-A*, PIZZA HUT*, HARDEE’S*
ROSS DRESS FOR LESS, WORLD MARKET, BED BATH & BEYOND, CATHERINE’S
1,600 - 22,953 S.F. AVAILABLE CONTACT (877) 797-1472 JEFFREY JAMES/SAM COOPER
CONTACT (877) 797-1472
OFFICE DEPOT, BIG LOTS, ANNA’S LINENS, LEBO’S, IT’S FASHION METRO, PAYLESS 1,500 - 4,500 S.F. AVAILABLE
WASHINGTON PARK PLAZA 178,750 S.F. GLA
ANCHOR POSITION AVAILABLE RESTAURANT SPACE AVAILABLE
PINEVILLE, NC
* Not Owned
1,400 - 3,150 S.F. AVAILABLE JEFFREY JAMES/MICHAEL MAHAN, JR.
FERN PARK, FL
PINEVILLE TOWNE MARKET 83,499 S.F. GLA
MAINSTREET SQUARE 108,632 S.F. GLA
EXPANSION 14,325 SF INLINE SPACE AVAILABLE
WINN-DIXIE ANCHORED
FOOD LION, DOLLAR GENERAL, GOODYEAR, WEIGHT WATCHERS
WINN-DIXIE , GOODWILL, RENT-A-CENTER, KIDS WORLD, NEW YORK PIZZA
1,200-14,300 S.F. AVAILABLE
750 - 2,950 S.F. AVAILABLE
CONTACT (877) 797-1472
CONTACT (877) 797-1472
JEFFREY JAMES/MICHAEL MAHAN, JR.
JEFFREY JAMES/MICHAEL CALLAHAN
OAK PARK HEIGHTS, MN
GREEN COVE SPRINGS, FL
OAK PARK PONDS 105,645 S.F. GLA
ANCHOR POSITION AVAILABLE KOWALSKI’S MARKET, DOMINO’S THE UPS STORE, BURGER KING* HOLLYWOOD VIDEO, OAK PARK WINE & SPIRITS
1,330 - 24,851 S.F. AVAILABLE CONTACT (877) 797-1472 JEFFREY JAMES/SAM COOPER
IRWIN, PA
NORWIN HILLS 244,364 S.F. GLA ANCHOR POSITION AVAILABLE ALDI, ECKERD DRUG, GOODWILL, GNC, GALAXY FITNESS, FASHION BUG
800 - 31,000 S.F. AVAILABLE CONTACT (877) 797-1472 JEFFREY JAMES/SAM COOPER
MAGNOLIA LAYNE 89,518 S.F. GLA OUTPARCEL AVAILABLE +/- .52 ACRES HARVEY’S GROCERY, DOLLAR GENERAL, PIZZA HUT, SUBWAY, ALLSTATE, CURVES, HARDEE’S* * Not Owned
676 - 6,666 S.F. AVAILABLE CONTACT (877) 797-1472
JEFFREY JAMES/MICHAEL CALLAHAN
CRAWFORDSVILLE, IN
87,364 S.F. GLA
CRAWFORDSVILLE SQUARE 297,542 S.F. GLA
ANCHOR POSITION AVAILABLE OUTPARCELS AVAILABLE +/-0.5 ACRES & 3,594 SF PIER 1 IMPORTS, DOLLAR TREE, THE TILE SHOP, HONEY BAKED HAM 3,594 - 18,095 SF AVAILABLE CONTACT (877) 797-1472
ORANGE PARK, FL
PITTSBURGH, PA
JR. ANCHOR POSITION AVAILABLE
ANCHOR POSITION AVAILABLE
SOUTH BLANDING VILLAGE 108,954 S.F. GLA OUTPARCELS AVAILABLE +/-0.28 & 0.85 ACRES STAPLES, BIG LOTS, WOOD YOU, LARRY’S SUBS JACKSON HEWITT
1,200 - 12,454 S.F. AVAILABLE CONTACT (877) 797-1472
JEFFREY JAMES/MICHAEL CALLAHAN
BANKS CROSSING 256,930 S.F. GLA
JR. ANCHOR POSITION AVAILABLE
JR. ANCHOR POSITION AVAILABLE
99¢ ONLY, AARON RENTS, AMERICAN GENERAL, JACKSON HEWITT BASKIN ROBBINS, CD WAREHOUSE
JC PENNEY, KROGER, GUITAR CENTER, FARMER’S FURNITURE, GOODYEAR
JEFFREY JAMES/MICHAEL CALLAHAN
365 SOUTH STREET MORRISTOWN, NJ 07960 TEL. (973) 285-0660 FAX (973) 285-9236 www.lamarcompanies.com
3,800 SF, +/-0.76; 1.47; 2.59 & 3.32 ACRES KROGER, THRIFTY’S, HIBBETT SPORTS 676 - 54,188 S.F. AVAILABLE CONTACT (877) 797-1472
JEFFREY JAMES/SAM COOPER
FAYETTEVILLE, GA
1,020 - 17,000 S.F. AVAILABLE CONTACT (877) 797-1472
ANCHOR POSITION AVAILABLE OUTPARCELS AVAILABLE
JEFFREY JAMES/SAM COOPER
RUFE SNOW VILLAGE 99,331 S.F. GLA
CONTACT (877) 797-1472
JEFFREY JAMES/MICHAEL MAHAN, JR.
FLORENCE, KY
VILLAGE AT THE MALL
N RICHLAND HILLS, TX
GREAT LEASING OPPORTUNITIES WITH FREE RENT AVAILABLE
Disclaimer: Subject to errors and omissions.
CONTACT (877) 797-1472
JEFFREY JAMES/MICHAEL MAHAN, JR.
1,050 - 4,900 S.F. AVAILABLE
KENNYWOOD SHOPS 198,210 S.F. GLA
OUTPARCEL AVAILABLE — 4,000 SF GIANT EAGLE, FAMOUS LABELS, DOLLAR GENERAL, FASHION BUG, HOLLYWOOD VIDEO
1,200 - 31,400 S.F. AVAILABLE CONTACT (877) 797-1472 JEFFREY JAMES/SAM COOPER
LEWISVILLE, TX GARDEN PARK 178,335 S.F. GLA
ANCHOR POSITION AVAILABLE
OUTPARCEL AVAILABLE +/-0.73 ACRES
STEIN MART, CHRISTIAN FAMILY BOOKSTORE, OISHI HIBACHI & SUSHI
971 - 30,090 S.F. AVAILABLE 1,400 - 12,068 S.F. AVAILABLE CONTACT (877) 797-1472
JEFFREY JAMES/MICHAEL CALLAHAN
INDIANAPOLIS, IN
FORT WAYNE, IN
JR. ANCHOR POSITION AVAILABLE
ANCHOR POSITION AVAILABLE OUTPARCEL +/- .95 ACRES
EMERSON PLAZA 84,799 S.F. GLA
MARSH SUPERMARKET, BIG KMART*, DAIRY QUEEN, RADIO SHACK, SUPERCUTS *Not Owned
1,600 - 11,375 S.F. AVAILABLE CONTACT (877) 797-1472 JEFFREY JAMES/SAM COOPER
CONTACT (877) 797-1472
COVINGTON PLAZA
183,806 S.F. GLA THE FRESH MARKET, OFFICE DEPOT, HONEY BAKED HAM, ANYTIME FITNESS, MERLE NORMAN
1,440 - 22,300 S.F. AVAILABLE CONTACT (877) 797-1472
JEFFREY JAMES/SAM COOPER
Buyers and Sellers Cohen Commercial Properties is looking to acquire centers located throughout the MidAtlantic, Midwest, Northeast and Southeast, with a preference for properties located in the major metropolitan areas of CT, FL, GA, IL, KY, MA, MN, NJ, NY, PA and TN. Suitable properties are anchored by grocery stores and feature occupancy rates above 80% with asking prices between $15 million and $50 million. For more information, contact Jonathan Lehr, Cohen Commercial Properties, 9 East 40th Street, 10th Floor, New York, NY 10016; 212-803-5781, Fax 212-803-5797; Email: jlehr@cohenco.com.
President/Publisher.............................. Ann O'Neal ann@dealmakers.net Vice President .................................. Alyson Parker alyson@dealmakers.net Art Director................................. Anthony Pingicer anthony@dealmakers.net Editor.................................................. Erin Dunkley erin@dealmakers.net Editor............................................ Nicholas Hamner nicks@dealmakers.net Editor............................................... Adam Taliercio adamt@dealmakers.net Advertising Exec...................... Monica Carpenter monica@dealmakers.net Director of Circulation..................... Jane Winterle jane@dealmakers.net Advertising Coordinator............ Stephani Hamner stephani@dealmakers.net Founder................................................... Ted Kraus 1979–2007
The Dealmakers TM (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. 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 08690-0630 or 100 Youngs Road, Mercerville, NJ 08619. Periodical postage paid at Trenton, NJ and at additional mailing offices. Affiliated with Tenant Search, E.S.P., Properties by Fax Copyright 2008 by TKO Real Estate Advisory Group Inc. 609-587-6200, fax 609-587-3511.
Marcus & Millichap Real Estate Investment Services is selling a 4,592 sq.ft. Fifth Third Bank situated on 1.03 acres along North University Drive in Pembroke Pines, FL. The tenant is bound to a NNN lease with 10 years remaining on the original lease term and featuring four, five-year options and annual rent escalations of 2.5%. Area retail includes Outback Steakhouse, Red Lobster, Lowe’s Home Improvement, McDonald’s, Albertsons, CVS, Office Depot and Subway. The NOI is $335,000. The asking price is $4.551 million with a Cap rate of 7.25%. The company is also selling a 13,225 sq.ft. CVS situated on 1.57 acres along Beach Road in Salisbury, MA. The tenant is bound to a 25year NN lease set to expire during January 2034 featuring four, five-year options and rent escalations at each option. The average daily traffic count is 25,000 vehicles. The NOI is $430,606. The asking price is $6.625 million with a Cap rate of 6.5%. The company is also selling a 1,200 sq.ft. WingStreet/PizzaHut location situated on a land area of 6,098 sq.ft. along Garvey Avenue in Rosemead, CA. The tenant is bound to a 15-year NNN lease set to begin at closing featuring annual rent escalations of 1.5%. Area retail includes 7-Eleven, Payless ShoeSource, Starbucks, Walgreens, Burger King and Jack in the Box. Area draws include Garvey Park. The NOI is $95,289. The asking price is $1.411 million with a Cap rate of 6.75%. The company is also selling a 1,371 sq.ft. Pizza Hut situated on a land area of 10,920 sq.ft. along Martin Luther King, Jr. Boulevard in Lynwood, CA. The tenant is bound to a 15-year NNN lease set to begin at closing and featuring annual rent escalations of 1.5%. Area retail includes U.S. Bank, Carl’s Jr., Subway, H&R Block, Circle K, RadioShack, WaMu, CVS and Rite Aid. The NOI is $88,735. The asking price is $1.365 million with a Cap rate of 6.5%. The company is also selling a 6,803 sq.ft. Lone Star Steakhouse & Saloon situated on a land area of two acres along Whitetail Drive in Dundee, MI. The tenant is bound to a 15-year NNN lease set to expire during December 2022 featuring two, five-year options and annual rent escalations of 2%. Area retail includes Applebee’s, Arby’s and Bob Evans. Area draws include Monroe County Community College. The NOI is $238,884. The asking price is $2.927 million at a Cap rate of 8.16%. The company is also selling a 5,525 sq.ft. Lone Star Steakhouse & Saloon situated on a land area of 63,034 sq.ft. along Plainfield Road in Joliet, IL. The tenant is bound to a 15-year NNN lease set to expire during December 2022 featuring two, fiveyear options and annual rent escalations of 2%. Area retail includes Target, OfficeMax, KFC, Kmart, Applebee’s and Home Depot. www.dealmakers.net
The
The NOI is $215,628. The asking price is $2.837 million at a Cap rate of 7.6%. For more information, contact Marcus & Millichap Real Estate Investment Services, 270 Madison Avenue, 7th Floor, New York, NY 10016; 212-4305100, Fax 212-430-5110; Web site: www.marcusmillichap.com. Vegas Commercial Real Estate, Inc. is selling a 59,665 sq.ft. shopping center located in Mesa, AZ. Tenants include OfficeMax, AutoZone and a furniture store. All tenants are bound to NNN leases. Area retail includes Kohl’s and Fry’s Supermarket. The asking price is $18.753 million with a Cap rate of 8%. The company is also selling Monterey Vista Village, a 90,674 sq.ft. shopping center located in Chandler, AZ. The center is anchored by Coyotes Athletic Center and tenants include AutoZone, CVS and Salon Boutique. All tenants are bound to NNN leases. Area demographics include a population of 290,000 within a five-mile radius. The asking price is $26.53 million with a Cap rate of 8%. For more information, contact Buzz Horden, Vegas Commercial Real Estate, Inc.; 702-365-6700, Fax 702-365-6667; Email: vegasre@aol.com. R.J. Brunelli & Co., Inc. is selling a 17,000 sq.ft. freestanding building located along Hurffville Road in Deptford, NJ. Area retail includes Home Depot, Old Country Buffet and a proposed 120,000 sq.ft. shopping center anchored by ShopRite. Area demographics include a population of 212,876 within a five-mile radius earning an average household income of $66,775. For more information, contact Michael Murphy, R.J. Brunelli & Co., Inc., 400 Perrine Road, Suite 405, Old Bridge, NJ 08857; 732-721-5800, Fax 732-721-9241; Email: mmurphy@njretailrealty.com; Web site: www.njretailrealty.com. Stan Johnson Co. is selling a Luby’s Cafeteria site situated on 1.8 acres on Shadow Creek Parkway in Pearland, TX. Area retail includes Kroger, Chase Bank, Bank of America, Cracker Barrel and Palais Royal. The tenant is bound to a 15-year lease with five, fiveyear options and 5% rent escalations every five years. The asking price is $1.642 million at a Cap rate of 7%. The NOI is $115,000. For more information, contact Hunter Jaggard, Stan Johnson Co., 10777 Westheimer Road, Suite 1100, Houston, TX 77042; 713-267-9336, Fax 713-260-9602; Email: hjaggard@stanjohnsonco.com; Web site: www.stanjohnsonco.com.
Dealmakers
(continued on page nine) March 20, 2009
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Profile — A monthly column featuring retail real estate companies Concord Mall: Weathering the storm with a small market mall by Nicholas Hamner The Economist recently published an article citing the demise of the suburban enclosed mall. The Wall Street Journal quickly followed with an article of their own concerning the struggle for relevancy that many malls now face. In surveys produced for the Dealmakers’ May 23, 2008 issue and 2008 Brokers Guide, real estate professionals nationwide noted the struggle that enclosed malls currently face as outdoor lifestyle centers become the new “it” property. These professionals also spoke of the negative impact a downward-spiraling economy could have on secondary markets and the utter devastation that could be had in tertiary markets. Concord Mall is a 528,000 sq.ft., 38-year old enclosed mall located at the intersection of Concord Mall Drive and U.S. Highway 33/South Main Street in Elkhart, IN. The city of Elkhart is a bluecollar town near the Michigan-Indiana border, with 60% of the city’s jobs tied to the manufacturing of myriad products, including recreational vehicles, band instruments and mobile homes. The city was recently in the news as a campaign stop for President Obama, who stopped to reflect on the city’s rising unemployment rate. Elkhart’s unemployment rate typically hovers around 4% but has recently ballooned to over 15%.
Concord Mall | Elkhart, IN
Concord Mall is a mature mall in a tertiary market with a rising unemployment rate. According to real estate experts and mainstream media outlets, the mall should be failing. It is, instead, holding its own - enjoying an overall campus occupancy rate above 95% and thus far, stable traffic counts. The mall’s durability and continued success is attributed, by Robert L. Thatcher, the mall’s general manager and director of leasing, to a multi-pronged approach by all parties involved in the center’s operation. Triyar Cannon Group owns Concord Mall along with numerous other shopping centers and commercial properties nationwide. Thatcher describes the company’s management style as decentralized and says that, while providing guidelines and support, the decentralized style allows each property manager to do what is best for their property. He uses a similar management style with the mall’s various departments and team members. “Everyone understands what our mission and vision for the property is,” he says, “and our employees are cross-
trained and are empowered to make decisions when the need arises.” Thatcher and his staff have worked to foster a tenant mix at Concord Mall that caters to their specific tradearea. He says, “From studies we have conducted, we have determined that 88 cents of every dollar spent in the mall is generated from a total of five zip codes, all within a 20-minute drive of the mall.” He notes that, while blue-collar, the citizens of Elkhart maintain a strong entrepreneurial spirit and there are many local businesses operating in the mall. “We work to encourage those businesses’ success,” he says, “and we try and teach them about seasonality and visual merchandising.” Thatcher and his staff also arrange over 30 events annually that serve to bring the community together and encourage patronage of Concord Mall’s retailers. Elkhart’s Great Race, a day of fun runs of various lengths, uses the mall as its race day headquarters. The mall also plays host to various college and job fairs. In a move to contribute to the community while generating business, the mall sponsors a “Shop Score Win” program where shoppers can generate points, which translate into donations to area schools. “We see tremendous turnout during the Shop Score Win program,” he says, “and not just from parents of school children. We see a lot of aunts, uncles and grandparents shopping when the points can be allocated to their family’s school.” The mall is also scheduled to host the first annual Rod d’Elegance car and truck show during September. Community events and fairs help generate interest in Concord Mall, which Thatcher attributes to the center’s longevity. “Other malls around the country that are of the same vintage as this one have been leveled or redeveloped several times by this point in their lifecycle” he says. “Concord is the same size, shape and concept that it was when it was built.” By not paying the cost of redevelopment, Thatcher says that occupancy costs are able to stay reasonable which, in turn, helps tenants and their bottom lines. Other cost-cutting measures performed by Thatcher are more proactive in nature. The climate control units utilized throughout the mall are high efficiency models and utilize a wireless energy management system, which is also utilized for the lighting systems. He says, “We were green before there was green. While we are not presently LEED certified, we make sure all of the facility’s systems are working efficiently to maximize savings.” He has also been able to keep tax costs low for tenants by actively working with real estate tax assessors. By proactively maintaining the mall and working with local government, he has been able to keep CAM below $2.45 psf and taxes below $1.15 psf. What changes that have been made to the mall are, as Thatcher explains, to the tenants’ and customers’ benefit. He points out the recent repainting of the common areas and the installation of a new
pylon sign along U.S. Highway 33 as relatively inexpensive maneuvers made the mall more appealing to customers, thus benefitting tenants and patrons alike. A portion of the mall was also recently repurposed into The Grove, a comfort-oriented and feature-packed food court. A number of local and national restaurants surround a seating area abutted by a large stone fireplace. The seating area features a collection of tables and sofas, where shoppers can sit and watch flat-screen TVs positioned throughout the area or take advantage of the complimentary wireless Internet service. Shopping centers nationwide are suffering increased vacancy rates as retailers either shutter locations are cease operations, and Thatcher admits that Concord Mall has been affected as well, losing three retailers in the early part of this year. “We are incredibly excited about bringing new tenants in for our shoppers,” he says. “This is the first time in a long time that we have had prime, center court space available.” He is not concerned with leasing the spaces, as he believes tertiary markets like Elkhart are more prone to experience growth than experts believe. He says, “Tertiary markets have typically not been over-saturated like many major and secondary markets were during the latest boom.” The lack of competition helps those retailers who do come into the market. He says that, while many national retailers are not present in tertiary markets, those that are perform well due to local support of something new coupled with a lack of national competition. He notes that smaller markets are able to support new retailers as lower costs of living allow for more expendable income, and points to the success of ABC Warehouse, a regional appliance and consumer electronics chain that occupies part of a former Montgomery Ward anchor space at the mall. He says “They arrived, facing no competition from Best Buy or Circuit City, and their location here has become one of the most successful stores in the chain.” He expects the malls newest tenant, Dunham’s Sporting Goods, to have similar success as there is no competition from The Sports Authority or Dick’s Sporting Goods. In a small market where national economic hardship and local unemployment work to create a perfect storm, Concord Mall is navigating through. Through the efforts of Triyar Cannon Group and the active management of Thatcher and his staff, a template of success – embrace and build a relationship with the community, media and government and work with tenants to appeal to the community – has been fashioned for small market success. For more information, contact Robert L. Thatcher SCSM, SCLS, SCMD, CDP, Concord Mall, 3701 South Main Street, Elkhart, IN 46517; 574-875-6502, Fax 574-875-6640; Email: rthatcher@triyar.com; Web site: www.shopconcordmall.com. For more information regarding Triyar Cannon Group, contact Triyar Cos., Inc., 10850 Wilshire Boulevard, Los Angeles, CA 90024; 310-475-5819; Web site: www.triyar.com.
To feature your company in an upcoming “Profile” in The Dealmakers, contact Ann O’Neal at ann@dealmakers.net. In your email, please give a brief synopsis of what your company does and what makes it stand out from the crowd. page 4
March 20, 2009
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Dealmakers
www.dealmakers.net
Who’s Opening and Where The Home Depot, Inc. (770-433-8211) has placed the groundbreaking of a planned 106,278 sq.ft. Home Depot home improvement superstore at Glenwood Commons, a shopping center development located along U.S. 36/Ohio 37 East in Delaware, OH, on indefinite hold. The company was slated to break ground during 2008, but later extended the date until this year before announcing the indefinite delay. Target Corp. (612-304-6073) is slated to open a Target location in Kona, HI during July. The company recently opened locations in Salt Lake and Kapolei on the island of Oahu earlier this month. The Salt Lake store occupies a former Costco site and is the company’s largest in the state. Dollar General Corp. (615-855-4000) plans to open 450 Dollar General locations nationwide this year and remodel or relocate an additional 400 stores, an accelerated growth plan brought on by better-thanexpected sales during the fourth quarter of 2008. The company currently operates 8,362 locations nationwide, having opened EXP_AD_5023_dealmaker1208.qxd:Layout 207 stores, relocated or remodeled 404 and closed 39 during 2008.
Wal*Mart Stores, Inc. (479-273-4000) will open a 220,000 sq.ft. Wal*Mart Supercenter store at the intersection of South 64th Avenue and Nob Hill Boulevard in Yakima, WA during November. The opening will be the company’s second in the city. The company is also planning to open a Wal*Mart Supercenter location in Maricopa, AZ during the spring. The company has also announced plans to shutter all six of its Sam’s Club Canada stores. hhgregg, Inc. (317-848-8710) is slated to open a 28,000 sq.ft. hhgregg located in a former Linens ‘N Things site at Mayfaire Town Center, a shopping center located in Wilmington, NC, during August and will open a location in Apex, NC. The company currently operates 108 of the stores, selling appliances and consumer electronics, throughout AL, FL, GA, IN, KY, NC, OH, SC and TN. JCPenney Co., Inc. (972-431-1000) plans to open 17 JCPenney locations this year, including the company’s first in Manhattan, NY. The company currently operates 1 12/10/08 9:32 AM Page 1 1,093 of the mid-priced department stores nationwide.
Lowe’s Cos. (704-758-1000) will open between 60 and 70 Lowe’s Home Improvement superstores this year, including five locations in Canada and two in Mexico. The company recently opened a 117,000 sq.ft. store earlier this month at the intersection of Montana Avenue and Loop 375 in El Paso, TX. Meijer, Inc. (616-453-6711) is slated to open a 192,264 sq.ft. Meijer at Glenwood Commons, a shopping center development located along U.S. 36/Ohio 37 East in Delaware, OH, during May. The company will also open a Meijer Gas convenience store with gasoline facilities at the center during April. The hypermarket, a grocery supercenter, features a pharmacy with drive-thru window. The tenant joins Kohl’s, Famous Footwear, Perfect 10 Nail Salon, Safe Cleaners and Super Tan at the project. Molly Moon’s Homemade Ice Cream (206547-5105) is slated to open an ice cream parlor in the Capitol Hill area of Seattle, WA during April. The company opened its first location in Seattle’s Wallingford neighborhood during May 2008. (continued on page six)
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March 20, 2009
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Real Estate Professionals Making the News Party City Corp. (973-983-0888) hired Doug Calvin as senior director of real estate. Calvin will oversee the company’s real estate. Prior to joining the company, Calvin was director of real estate for Steve & Barry’s. Turnberry Associates (305-937-6200) appointed Robert Perry as general manager of Destin Commons, an outdoor lifestyle center located in Destin, FL. Perry will be responsible for the management and marketing of the center as well as the long-range strategic and financial planning, capital expenditure project management and all property reporting functions. The company is a full-service real estate development and property management firm with a portfolio including D M 20 million sq.ft. of retail space.
Who’s Opening and Where (continued from page five)
Caffe Vita Coffee Roasting Co. (888-2238482) plans to open two Caffe Vita locations throughout WA. The company currently operates five coffee shops throughout the Puget Sound area. O’Reilly Automotive, Inc. (417-862-3333) plans to open 150 O’Reilly Auto Parts locations during 2009, including 60 during the first quarter. During 2008, the company opened 150 stores, including 23 in TX, 16 in GA, 14 in OH, 12 in IN, 10 in WI and nine each in NC and MN, and completed its merger with CSK Auto, Inc.
Prime retail land available
anchored by the newest menards mega Store in indiana
33,000 c daily Traffi Count
EvansvillE, indiana
Excellent accessibilit y and visibil ity
• Anchored by Menard’s 230,000 sf Mega Store • 1 minute North of Eastland Mall and 2 minutes from Interstate 164 • 100% Pad ready with all utilities • 475,000 population within trade area • Anchor and Junior Anchor opportunities • Easy access / High Trafic counts. Outlots available. Will subdivide or combine
demographics 3 Miles 5 Miles 10 Miles Population
40,203
127,980 205,619
Households
17,649
53,797
83,142
Avg. HH Inc. $55,572 $56,907 $54,929
www.stonefieldcrossing.com | (812) 204-2236 | JV2236@gmail.com March 20, 2009
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Dealmakers
GameStop Corp. (817-424-2000) is slated to open 400 GameStop locations nationwide. The company currently operates 6,100 locations nationwide and internationally. The stores offer new and used video games, video game consoles and accessories. Cupcake Royale (206-782-9557) is slated to open a bakery in the Capital Hill area of Seattle, WA this year. The opening will be the company’s fourth in the Seattle area. Bloomingdale’s, Inc. (513-579-7000) plans to open a Bloomingdale’s department store in a former Macy’s site at Santa Monica Place, an enclosed mall currently being de-malled into an open-air shopping center, during the middle of 2010. The store will have a smaller footprint than traditional Bloomingdales locations and will feature a market-tailored inventory. Nordstrom, Inc. (206-628-2111) is also slated to open a Nordstrom location at the center during the latter part of 2010. Raymour & Flanigan (315-453-2590) is slated to open a 35,308 sq.ft. Raymour & Flanigan Furniture store at Columbus Commons, a 50-acre shopping center located at the intersection of Columbus Boulevard and Snyder Avenue in Philadelphia, PA, during June. The company currently operates 87 locations throughout seven states in the northeastern U.S., and the opening will be the company’s third location in Philadelphia, PA. The tenant joins IKEA, Lowe’s Home Improvement, Best Buy and Champps.
Property Highlights
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Goodwill Industries of Metropolitan Chicago, Inc. (312-212-1290) will open five Goodwill stores per year during each of the next four years, as part of a plan to operate a total of 50 stores throughout the market. The company recently opened its 15th Chicagoarea store in Carol Stream during February.
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Carter’s, Inc. (404-745-2700) is slated to open 20 locations during the first half of this year. The company currently trades as Carter’s at 253 locations nationwide and as OshKosh at 165 locations nationwide. The stores offer infant and children’s clothing. FOM Trading (347-599-7893) is slated to open an LTJ Arthur store in Scottsdale Fashion Square, a shopping center currently under redevelopment in Scottsdale, AZ. The store, selling pajamas, Bermuda shorts, T-shirts, swimwear and other apparel, is slated to open during October. The company is also planning to open locations in CA, GA and WA as part of a plan to operate 150 locations nationwide. Also slated to open at the center are Ed Hardy and Forever 21. DM
Lease Signings LaKritz-Weber&Co.(248-353-9494)negotiated a lease with Jimmy John’s for 2,000 sq.ft. at Minges Brooke Mall, located on Beckley Road in Battle Creek, MI. The company represented the tenant in the transaction. Jimmy John’s currently operates 690 units nationwide. Magellan Development Group, LLC (312642-8869) negotiated a lease with Roundy’s Supermarket for a 55,000 sq.ft. two-level space at Village Market Center, a 140,000 sq.ft. center currently under development within Lakeshore East, a 2.2-million sq.ft. mixed-use development situated on 28 acres in Lakeshore, IL. Roundy’s trades as Pick ‘n Save, Copps Food Store, Rainbow Foods and Metro Market in 151 stores. The company also negotiated a lease with Fifth Third Bank for space at the center. Legend Properties, Inc. (610-941-4034) negotiated the following leases with EZ Bargain: for 5,980 sq.ft. at Overbrook Plaza Shopping Center, located at the intersection of 56th Street and Lancaster Avenue in Philadelphia, PA; for 7,100 sq.ft. at Port Richmond Plaza, located at the intersection of Aramingo Avenue and York Road in Philadelphia, PA; for 7,500 sq.ft. at Station Plaza, located on North Broad Street in Philadelphia, PA, and for 8,825 sq.ft. at Pennington Shopping Center, located on Pennington Avenue in Trenton, NJ. The company represented the tenant in the transactions. The company also negotiated a lease with EZ Bargain for 16,500 sq.ft. on Lancaster Avenue in Philadelphia, PA. The company represented both the landlord and the tenant in the transaction. EZ Bargain operates eight locations throughout NJ and PA and carries electronics, furniture, linens and apparel. The Goldenberg Group (610-260-9600) negotiated a lease with Raymour & Flanigan Furniture for 35,308 sq.ft. at Columbus Commons, a 643,810 sq.ft. center situated on 50 acres at the intersection of Columbus Boulevard and Snyder Avenue in Philadelphia, PA. The tenant joins IKEA, Lowe’s Home Improvement, Best Buy and Champps. Coldwell Banker Commercial Atlantic International, Inc. (843-744-9877) negotiated a five-year lease with Sprint for space on Centre Pointe Drive in Charleston, SC. The company represented the landlord, Centre Pointe Developers, LLC, in the transaction. The company also negotiated a five-year lease with Edward Jones Financial for space at University Center, located on University Boulevard in Charleston, SC. The company represented the landlord, University Center, D M LLC, in the transaction.
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 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 Collington Plaza, Marcus Bourn, 703-442-4500 x20 Hilltop Plaza, Bruce I. Levine, 410-486-0800 x216 Main Street Market, Sam Pan, 301-657-7352
Pointer Ridge Plaza, Will Collins, 571-382-1290 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 www.dealmakers.net
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Dealmakers
March 20, 2009
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New Construction The Woodmont Co. is developing Bakersfield Gateway, a one million sq.ft. retail project located at the intersection of Highway 99 and Hosking Road in Bakersfield, CA. Area retail includes Lowe’s Home Improvement, Camping World and Office Depot. Trade-area demographics include a population of 794,167 earning an average household income of $62,593. The company is also developing Preston Park, a 170,703 sq.ft. shopping center project located at the intersection of Preston Road and Park Boulevard in Plano, TX. Area retail includes Aaron Brothers, Babies “R” Us, Barnes & Noble, Borders, Chico’s, Cullwell & Sons, Harold’s, Horchow Finale, Jos. A. Bank, Kroger, Gap, Lamps Plus, Marshalls, Nordstrom Rack, Office Depot, Old Navy, Party City, Petco, Pier 1 Imports, Panera Bread, REI, Ross Dress for Less, Stein Mart, StoneBriar Mall, Tom Thumb, Tuesday Morning, White House|Black Market, Williams-Sonoma, Willowbend Mall, Wolf Camera and Whole Foods Market. Area demographics include a population of 344,811 within a five-mile radius earning an average household income of $121,187. The average daily traffic count is 100,000 vehicles. The company is also developing Terraces of Las Colinas, a 1.5 million sq.ft. mixed-use specialty project located at the intersection of Las Colinas Boulevard and President George Bush Turnpike/State Highway 161 in Las Colinas, TX. Area retail includes Office Depot, Best Buy, OfficeMax, Ulta, Target, Fry’s Electronics, Wal*Mart Supercenter, Kohl’s, T.J. Maxx, The Dump, Home Depot, Sam’s Club, Kroger and Ross Dress for Less. Trade area demographics include a population of 443,296 earning an average household income of $83,105. The average daily traffic count is 84,500 vehicles. For more information, contact The Woodmont Co., 2100 West 7th Street, Fort Worth, TX 76107; 817-732-4000, Fax 817735-4738; Web site: www.woodmont.com. KGI Properties, LLC is preleasing a 485,000 sq.ft. shopping center located at the intersection of South Main Street and Route 24 in Freetown, MA. Spaces of 20,000 sq.ft.; 134,431 sq.ft. and 184,109 sq.ft. are available. Area demographics include a population of 244,878 within a 10-mile radius earning an average household income of $49,657. The center is slated to open during the spring of 2010. The company is also preleasing Mountain Valley Mall and Fairway Plaza, shopping centers with a combined GLA of 272,000 sq.ft. located on opposite sides of North-South Road at its intersection with Mountain Valley Boulevard in North Conway, NH. Lowe’s Home Improvement page 8
March 20, 2009
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and Hannaford anchor the center. Cotenants include JCPenney, Panda Garden and Fashion Bug. A 32,000 sq.ft. junior anchor space is available along with two spaces of 2,000 sq.ft. and two spaces of 5,000 sq.ft. Area demographics include a population of 17,094 within a 10-mile radius earning an average household income of $46,287. The center is slated to open during the fall. For more information, contact Joseph E. Harnan, KGI Properties, LLC, 10 Memorial Boulevard, Suite 901, Providence, RI 02903; 401-273-8600, Fax 401-273-9648; Email: j.harnan@kgiproperties.com; Web site: www.kgiproperties.com. Champion is developing Marley Park Square, a 278,000 sq.ft. neighborhood mixed-use center located at the intersection of North Litchfield Road and West Waddell Road in Surprise, AZ. Cotenants include Ace Hardware, Dollar Tree, Quik Trip, MidFirst Bank and Freddy’s Frozen Custard and Burgers. Area retail includes Safeway Food & Drug, UltraStar Cinemas, Fry’s Food Stores, Sonic Drive-In and Walgreens. Area demographics include a population of 167,485 within a five-mile radius earning an average household income of $63,041. The average daily traffic count is 30,000 vehicles. The center is slated to open during the fourth quarter. For more information, contact Lauren Gausden, Champion, 10450 North 74th Street, Suite 100, Scottsdale, AZ 85258; 480-922-9212; Web site: cpchampion.com. For additional leasing information, contact Strategic Retail Group, 2525 East Camelback Road, Suite 740, Phoenix, AZ 85016; 602778-3838, Fax 602-778-3839; Web site: www.srgaz.com. Shapiro Properties, LLC is preleasing North Ashley Center, a 12,000 sq.ft. specialty strip center situated on two acres along Connell Road in Valdosta, GA. Spaces of 1,225 sq.ft.; 1,305 sq.ft. and 1,402 sq.ft. are available along with outlots of 2,000 sq.ft. and 5,100 sq.ft. Cotenants include Quiznos. Area retail includes Pizza Hut, Arby’s, KFC, Captain D’s, Taco Bell, Wal*Mart, Winn-Dixie Marketplace, Walgreens and Hardees. Area demographics include a population of 59,902 within a five-mile radius earning an average household income of $35,071. The average daily traffic count is 25,000 vehicles. The asking rent is $18 psf NNN. The center is slated to open during the fall. For more information, contact Micah Shapiro, Shapiro Properties, LLC, 2935 North Ashley Street, Suite 108, Valdosta, GA 31602; 229-242-1014, Fax 229-242-1015; Email: mshapiro@shapiroproperties.com; Web site: www.shapiroproperties.com.
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The Sembler Co. is developing Okatie Crossings, a 1.7 million sq.ft. regional shopping center located at the intersection of Highway 170 and Highway 278 in Bluffton, SC. Trade-area demographics include a population of 300,000. For more information, contact Greg Sembler or Jeff Fuqua, The Sembler Co.; Web site: www.sembler.com. Hekemian & Co., Inc is redeveloping Damascus Center, a 138,554 sq.ft. center located at the intersection of Route 27, Route 124 and Route 108/Main Street in Damascus, MD. Safeway anchors the center and cotenants include Starbucks, Everything Equestrian, Beall’s Florist, Mimi’s Nails, China Buffet, Ledo Pizza and McDonald’s. Spaces of 1,458 sq.ft.; 1,510 sq.ft.; 2,442 sq.ft. and 2,700 sq.ft. are available. Area demographics include a population of 36,669 within a five-mile radius earning an average household income of $120,761. The center is slated to reopen during the latter part of this year. For more information, contact David B. Hekemian, Hekemian & Co., Inc., PO Box 667, Hackensack, NJ 07602; 800-444-3210 Ext. 109; Email: dhekemian@hekemian.com; Web site: www.hekemian.com. Developers Realty Corp. is developing The Shops at Riverhead, a 538,000 sq.ft. project located along Route 58/Old Country Road in Riverhead, NY. Area retail includes Home Depot, Target, OfficeMax, Pottery Barn Outlet, ABC Carpet & Home Outlet, Marshalls, Waldbaums, T.J. Maxx, Kmart and Wal*Mart. Big box and inline spaces are available along with pad sites. Area demographics include a population of 112,048 within a 10-mile radius earning an average household income of $80,565. For more information, contact Kelly Voss, Developers Realty Corp., 433 South Main Street, Suite 310, West Hartford, CT 06110; 860-561-0121, Fax 860-521-4323; Email: kelly@developers-realty.com; Web site: D M www.developers-realty.com.
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Exclusives and Leasing Assignments Main & Main, Inc. (310-656-9980) represents the following retailers with their expansion plans: Jos. A. Bank, throughout AZ and southern CA, utilizing spaces of 2,500 sq.ft. to 5,000 sq.ft.; Cantina Laredo, throughout CA, seeking spaces of 7,000 sq.ft.; Kirkland’s Home, throughout Kern, Los Angeles, Orange, Riverside, San Bernardino and Santa Barbara counties, seeking spaces of 6,500 sq.ft. to 7,500 sq.ft.; Chico’s, throughout southern CA, seeking sites of 3,500 sq.ft. to 5,000 sq.ft.; Soma, throughout southern CA, seeking sites of 2,000 sq.ft. to 3,000 sq.ft. adjacent to Chico’s locations; Kona Grill, throughout CA, seeking spaces of 6,500 sq.ft. to 7,500 sq.ft.; Ilori, throughout southern CA, utilizing spaces of 2,300 sq.ft.; Lenscrafters, throughout southern CA, utilizing spaces of 3,500 sq.ft.; Sunglass Hut, throughout southern CA, utilizing spaces of 800 sq.ft. to 1,000 sq.ft.; Quartino, throughout CA, seeking spaces of 7,000 sq.ft. to 8,000 sq.ft.; III Forks, throughout CA, seeking spaces of 8,500 sq.ft. to 10,000 sq.ft.; The Vitamin Shoppe, throughout HI and Guam, seeking sites of 3,500 sq.ft. in pad sites or endcap spaces; Martini Park, throughout CA, seeking sites of 5,000 sq.ft. to 10,000 sq.ft., and White House|Black Market, throughout southern CA, seeking spaces of 3,000 sq.ft. to 4,000 sq.ft. with trade-area demographics including a population earning $50,000 as the median household income. Epsteen & Associates (310-451-8171) represents the following retailers with their expansion plans throughout southern CA: Gymboree, utilizing spaces of 2,200 sq.ft. to 2,500 sq.ft.; The Right Start, utilizing spaces of 2,600 sq.ft.; Buckhorn Grill, seeking spaces of 1,000 sq.ft. to 2,500 sq.ft.; Hurley, seeking spaces of 3,500 sq.ft.; Janie and Jack, seeking sites of 1,000 sq.ft. to 1,500 sq.ft.; Zen Palate, utilizing spaces of 2,000 sq.ft. to 3,000 sq.ft.; Grease Monkeys, utilizing spaces of 2,500 sq.ft. to 4,500 sq.ft.; CitiTrends, utilizing spaces of 11,000 sq.ft. to 15,000 sq.ft.; Baby Blues BBQ, seeking spaces of 3,500 sq.ft.; Jamba Juice, seeking spaces of 1,200 sq.ft. to 1,600 sq.ft.; Submarina, throughout Los Angeles, Orange, San Bernardino and Ventura counties, seeking sites of 1,000 sq.ft. to 1,500 sq.ft.; Busy Body, utilizing spaces of 2,800 sq.ft. to 3,500 sq.ft.; Children’s Learning Adventure, seeking sites featuring 25,000 sq.ft. of indoor space and 25,000 sq.ft. of outdoor playground space; Banana Moon, utilizing spaces of 600 sq.ft. to 1,000 sq.ft., and Pacific Dental Services, throughout Kern and North Los Angeles counties, seeking spaces of 2,600 sq.ft. to 4,200 sq.ft. DM
Buyers and Sellers (continued from page three)
Sperry Van Ness|Lighthouse Commercial Realty negotiated the sale of a 10,961 sq.ft. former Ryan’s Steakhouse Restaurant situated on four acres on Highway 70 Southeast in Hickory, NC. The property was sold for $1.2 million. The company represented the seller in the transaction. For more information, contact Jeffrey Mullis, Sperry Van Ness|Lighthouse Commercial Realty, 13900 Conlan Circle, Suite 110, Charlotte, NC 28277; 704759-3800, Fax 704-759-3801; Web site: www.svnlighthouse.com. Bolsa Group Investments is selling a building situated on a land area of 6,500 sq.ft. along Fern Avenue in Stanton, CA. The asking price is $495,000. For more information, contact Hao Tang, Bolsa Group Investments; 800-314-8373, Fax 949-262-1334; Email: hao-tang@att.net. Omni Properties, LLC is selling an 11,000 sq.ft. The Learning Experience located along Great Road in Littleton, MA. The tenant is bound to a 16-year NNN lease featuring 12% rent escalations every five years and two, five-year options. The NOI is $272,250. The asking price is $3.512 million with a Cap rate of 7.75%. For more information, contact John Amaral or George Robb, Omni Properties, LLC, 200 Baker Avenue, Suite 303, Concord, MA 01742; 978-369-4884, Fax 978-3694983; Email: info@omniproperties.com. Or, Equity Alliance, LLC, 7 Rolling Woods Drive, Bedford, NH 03110; Email: info@equityalliance.com. Battery Commercial is selling a Walgreens site located in Fruita, CO. The tenant is bound to a 25-year NNN lease. The asking price is $4.675 million with a Cap rate of 7.6%. For more information, contact John Giordani or Art Griffith, Battery Commercial, 500 Washington Street, 4th Floor, San Francisco, CA 94111; 415-577-9311 or 415-730-3024; Fax 415-963-4744/4742; Emails: jg@batterycommercial.com and atg@batterycommercial.com; Web site: www.batterycommercial.com. Kuester Real Estate Services, Inc. is selling a 2.4-acre parcel located along South Tryon Street in Charlotte, NC. The asking price is $400,000. For more information, contact Brian Johnson, Kuester Real Estate Services, Inc., 108 Stone Village Drive, Fort Mill, SC 29708; 888-600-5044 Ext. 221, Fax 803-802-0005; Email: bajohnsonprop@aol.com; Web site: www.kuester.com. www.dealmakers.net
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Riser Retail Group negotiated the sale of Ennis Plaza, a 31,360 sq.ft. center located in Ennis, TX. Wal*Mart Supercenter anchors the center and tenants include Starbucks, Dollar Tree, CATO and Chili’s. A private buyer acquired the center for $5.075 million with a Cap rate of 7.4%. For more information, contact John F. Riser, Riser Retail Group, 280 East 96th Street, Suite 225, Indianapolis, IN 46240; 317-844-0700, Fax 317-844-0701; Web site: www.riserretailgroup.com. Hoff Realtors, on behalf of a client, is looking to acquire single- and multi-tenant properties throughout Chicago, IL and northwestern IN. Asking prices should reflect a Cap rate of 9% or higher. For more information, contact Ron Stewart, Hoff Realtors, 62 Orland Square Drive, Suite 302, Orland Park, IL 60462; 708-8702920; Email: run1ron@aol.com; Web site: www.rstewart.biz. NAI Commerce One is selling a 24,985 sq.ft. building situated on 1.33 acres along Yellowstone Avenue in Pocatello, ID. The site is shadow-anchored by Costco. Area draws include Idaho State University. Trade-area demographics include a population of 137,000. The average daily traffic count is 25,000 vehicles. The asking price is $2.2 million. For more information, contact Brent Wilson, NAI Commerce One, 1000 Riverwalk Drive, Suite 375, Idaho Falls, ID 83402; 208-525-8088, Fax 208-525-8188; Email: bwilson@nai-idaho.com; Web site: www.nai-idaho.com. Calkain Cos., Inc. is selling a Dollar General site located in Point Pleasant, WV. The tenant is bound to a 10 year lease set to expire during February 2013 featuring three, fiveyear options with $3,000 rent escalations at each option. The NOI is $56,942. The asking price is $675,000 with a Cap rate of 8.44%. For more information, contact Guenter Manczur, Calkain Cos., Inc., 11150 Sunset Hills Road, Suite 300, Reston, VA 20190; 813-282-6000; Web site: www.calkain.com. Matanky Realty Group negotiated the $700,000 sale of a 6,044 sq.ft. building situated on a land area of 7,485 sq.ft. along North Elston Avenue in Chicago, IL. The company represented the seller and Prudential Preferred Properties represented the buyer in this transaction. For more information, contact Malik C. Elliott or Terri J. Cox, Matanky Realty Group; 312-337-1001; Web site: www.matanky.com. DM
Dealmakers
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Food Retailers Expand Nationwide Captain D’s Seafood operates 600 locations nationwide. The seafood restaurants occupy spaces of 2,700 sq.ft. in freestanding locations and pad sites. Growth opportunities are sought throughout MD and VA during the coming 18 months, with representation by Thur & Associates. A land area of 0.75 to 1.25 acres is required. Philly Pretzel Factory operates 159 locations throughout DE, FL, GA, MD, NC, NJ, NY, PA, SC and VA. The pretzel shops occupy spaces of 700 sq.ft. to 1,500 sq.ft. in freestanding locations and downtown areas. Growth opportunities are sought throughout the metropolitan area of Washington, DC during the coming 18 months. Wall Street Deli operates 21 locations throughout AL, CO, FL, GA, KY, MD, OH, TX, VA, VT and Washington, DC. The restaurants, offering sandwiches, soups, salads, muffins, cookies and a gourmet coffee bar, occupy spaces of 1,500 sq.ft. to 2,500 sq.ft. in downtown areas, airports, office buildings, hospitals and college campuses. Growth opportunities are sought throughout the metropolitan area of Washington, DC during the coming 18 months, with representation by Thur & Associates. For more information regarding Captain D’s Seafood and Wall Street Deli, contact John Margiliano or Shary Thur, Thur & Associates, 8260 Greensboro Drive, Suite 270, McLean, VA 22102; 703-847-0865, Fax 703-8471435; Web site: www.wallstreetdeli.com. For more information regarding Philly Pretzel Factory, contact Josh Weiner. Cajun’s Fabulous Fried Chicken, Inc. trades as Cajun’s Fabulous Fried Chicken at one location in MS. The restaurant prefers to occupy spaces of 2,000 sq.ft. to 4,000 sq.ft. in freestanding locations. Growth opportunities are sought throughout the existing market during the coming 18 months. For more information, contact Tom Harvey, Cajun’s Fabulous Fried Chicken, Inc., 101-A Pass Road, Gulfport, MS 39507; 228-5758702, Fax 228-575-8704. Fired Up, Inc. trades as Carino’s Italian at 175 locations nationwide. The Italian restaurants occupy spaces of 5,700 sq.ft.in freestanding locations, as well as lifestyle and power centers. Growth opportunities are sought throughout the existing market during the coming 18 months. Preferred cotenants include big box retailers. For more information, contact Charles Mercer, Fired Up, Inc., 7500 Rialto Boulevard, Building 1, Suite 250, Austin, TX 78735; 512-691-8276, Fax 512-615-2426; Email: cmercer@carinos.com; Web site: www.carinos.com. page 10
March 20, 2009
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Bok Bok Fresh operates two locations throughout NJ. The restaurants, offering a variety of natural and health foods, occupy spaces of 2,200 sq.ft. in endcaps and freestanding locations with a drive-thru. Growth opportunities are sought throughout NJ and PA during the coming 18 months, with representation by Legend Properties, Inc. The company prefers to locate in areas with a strong daytime population. Checkers operates 800 locations nationwide. The fast food restaurants occupy spaces of 1,150 sq.ft. in pad sites with a drive-thru. Growth opportunities are sought throughout NJ and PA during the coming 18 months, with representation by Legend Properties, Inc. The company prefers to locate in areas with strong visibility, access and parking. A land area of 20,000 sq.ft. is required. For more information, contact Steven Depetris, Legend Properties, Inc., 20000 Horizon Way, Suite 280, Mount Laurel, NJ 08054; 856-231-1010, Fax 856-2311111; Email: sdepetris@lpre.com; Web site: www.lpre.com. Smashburger operates 10 locations throughout CO, KS and TX. The restaurants, offering burgers, salads, sides and hot dogs, occupy spaces of 2,000 sq.ft. in endcaps and inline spaces. Growth opportunities are sought throughout central and northern NJ with a focus on Bergen, Essex, Hudson, Middlesex, Morris, Passaic and Union counties, during the coming 18 months, with representation by Fameco Real Estate. The company prefers high profile locations with strong daytime and residential populations. For more information, contact Steven Winters, Fameco Real Estate, 555 U.S. Route 1 South, Suite 400, Iselin, NJ 08830; 732-526-9104, Fax 732-526-9101; Email: swinters@famecoretail.com; Web sites: www.famecoretail.com and www.mysmashburger.com. Blimpie of Long Island trades as Blimpie at 25 locations throughout Long Island, NY. The sandwich shops, offering sub and panini sandwiches, occupy spaces of 1,200 sq.ft. to 1,500 sq.ft. in freestanding locations and strip centers. Growth opportunities are sought throughout the existing market during the coming 18 months. Typical leases run 10 years with options. A vanilla shell is required. Preferred demographics include a population of 30,000 within two miles. Major competitors include Subway and Quiznos. The company is franchising. For more information, contact Patrick Conlin, Blimpie of Long Island, PO Box 651, East Meadow, NY 11554; 516-765-3000, Fax 516-765-3000; Email: pjconlin@msn.com.
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Dunkin’ Donuts operates 7,900 locations nationwide and internationally. The doughnut shops, offering baked goods, bagels, breakfast sandwiches and coffee, occupy spaces of 1,700 sq.ft. to 2,000 sq.ft. in endcaps and freestanding locations. Plans call for 12 openings throughout the Gulf Coast areas of FL and LA, in addition to MS, during the coming 18 months, with representation by Levy Commercial Realty, LLC. A drive-thru is required. For more information, contact Steven Levy, Levy Commercial Realty, LLC, PO Box 38466, Germantown, TN 38183-0466; 901-753-4848, Fax 901-753-9077; Email: slevy@levycommercial.com; Web site: www.levycommercial.com. Vocelli Pizza operates 148 locations throughout FL, MD, NC, OH, PA, VA, WV and Washington, DC. The pizzerias occupy spaces of 1,200 sq.ft. in strip centers. Plans call for 15 openings throughout the existing markets, excluding NC, during the coming 18 months. Typical leases run five years with three, five-year options. A vanilla shell is required. Preferred cotenants include Blockbuster, Subway and drycleaners. Preferred demographics include a population of 12,000 within three miles. Major competitors include Domino’s and Papa John’s. The company is franchising. For more information, contact Jack Sclabassi, Vocelli Pizza, 1005 South Bee Street, Pittsburgh, PA 15220; 412-9192100 Ext. 528, Fax 412-279-9781; Email: jsclabassi@vocellipizza.com; Web site: www.vocellipizza.com. P.F. Chang’s China Bistro operates 133 locations nationwide. The Chinese restaurants occupy spaces of 6,500 sq.ft. in freestanding locations and lifestyle centers. Growth opportunities are sought throughout MD and VA during the coming 18 months, with representation by Sax Realty, Inc. Typical leases run 10 years. A vanilla shell and specific improvements are required. Preferred demographics include a population of 200,000 within five miles. For more information, contact Les Sax, Sax Realty, Inc., 4912-A Del Ray Avenue, Bethesda, MD 20814; 240-497-1192, fax 240-497-1070; Email: lsax@saxrealty.com; Web site: www.saxrealty.com. DM
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Lead Sheet Big M, Inc. dba Afaze Joel Seibert 12 Vreeland Avenue Totowa, NJ 07512 973-890-0021, Fax 973-890-9188 Email: jseibert@mandee.com Web site: www.mandee.com
Accessories The nine-unit chain operates locations throughout NJ and NY. The stores, selling accessories for men and women, occupy spaces of 800 sq.ft. to 1,000 sq.ft. in malls. Growth opportunities are sought throughout the existing markets during the coming 18 months.
AKH Discount Tire Centers, Inc. dba Discount Tire Centers and Evans Tires Andy Andonian 15412 Electronic Lane, Suite 202 Huntington Beach, CA 92649 714-861-9024, Fax 714-899-4923 Web site: www.discounttirecenters.com
Automotive The 75-unit chain operates locations throughout southern CA. The tire and automotive service centers occupy spaces of 5,000 sq.ft. in freestanding locations. Growth opportunities are sought throughout the existing market during the coming 18 months.
Strauss Discount Auto Steven DePetris c/o Legend Properties, Inc. 20000 Horizon Way, Suite 280 Mount Laurel, NJ 08054-4341 856-231-1010, Fax 856-231-1111 Email: sdepetris@lpre.com Web site: www.lpre.com
Automotive The 90-unit chain operates locations throughout NJ and PA, in addition to the New York, NY metropolitan area. The stores, selling automotive parts, occupy spaces of 13,000 sq.ft. in endcaps and freestanding locations. Growth opportunities are sought throughout NJ and PA during the coming 18 months, with representation by Legend Properties, Inc.
Crabtree & Evelyn Brian Reif c/o Strategic Retail Advisors 455 Baseline Road Northville, MI 48167 617-894-2593, Fax 508-405-1931 Web site: www.crabtree-evelyn.com
Cosmetics The 140-unit chain operates locations nationwide. The cosmetic stores, selling a private line of health and beauty aids, occupy spaces of 1,000 sq.ft. to 1,200 sq.ft. in lifestyle, specialty and outlet centers, malls and downtown/urban locations. Growth opportunities are sought throughout the existing market during the coming 18 months, with representation by Strategic Retail Advisors. Typical leases run 10 years. Preferred cotenants include Nordstrom, Ann Taylor and Williams-Sonoma.
Fairway Sales Co. dba Fairway Discount Store Paul Harmon 1071 West Saginaw Road Vassar, MI 48768 989-823-2222, Fax 989-823-7161
Discount The nine-unit chain operates locations throughout MI. The discount stores occupy spaces of 6,000 sq.ft. to 8,000 sq.ft. in strip centers along with freestanding and downtown/urban locations. Growth opportunities are sought throughout the existing market during the coming 18 months.
Carle Rx Express Greg Puszkiewicz 602 West University Avenue Urbana, IL 61801 217-383-3250, Fax 217-383-3524
Drug Store The 10-unit chain operates locations throughout central and eastern IL. The drug stores occupy spaces of 1,200 sq.ft. to 1,500 sq.ft. in strip centers and freestanding locations. Growth opportunities are sought throughout the existing markets during the coming 18 months.
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March 20, 2009
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Lead Sheet Doc’s Drugs, Ltd. dba Doc’s Drugs Jeff Haran 455 East Reed Street Braidwood, IL 60408 815-458-6104, Fax 815-458-6158 Web site: www.docsdrugs.com
Drug Store The 17-unit chain operates locations throughout IL. The drug stores occupy spaces of 3,000 sq.ft. to 7,500 sq.ft. in strip centers along with downtown/urban and freestanding locations. Growth opportunities are sought throughout the existing market during the coming 18 months. Typical leases run five years with options.
Antietam Health Services, Inc. dba Home Care Pharmacy Steve Barnhart 11110 Medical Campus Road, Suite 229 Hagerstown, MD 21742 301-665-4512
Drug Store The six-unit chain operates locations throughout MD. The drug stores occupy spaces of 5,000 sq.ft. in freestanding locations. Growth opportunities are sought throughout the existing market during the coming 18 months.
Lifecheck Drug Bruce Gingrich 1316 7th Street Rosenberg, TX 77471 281-232-3940, Fax 832-595-1203 Email: bvgingrich@sbcglobal.net
Drug Store The 20-unit chain operates locations throughout TX. The drug stores occupy spaces of 1,800 sq.ft. to 10,000 sq.ft. in strip centers and freestanding locations. Plans call for two to five openings throughout LA and TX during the coming 18 months. Typical leases run three to five years with kick-outs.
Pharmacade Pharmacy Maurice Malin 1049 East 163rd Street Bronx, NY 10459 718-842-5485, Fax 718-842-8435
Drug Store The six-unit chain operates five locations throughout NY and one location in FL. The drug stores occupy spaces of 450 sq.ft. to 500 sq.ft. in downtown/urban areas. Growth opportunities are sought throughout Bronx and Manhattan, NY during the coming 18 months. Typical leases run five years with five-year options. Preferred cotenants include supermarkets. Preferred demographics include a population of 20,000 within a one-mile radius. The company prefers to locate near hospitals and medical centers.
Huntington Learning Corp. Russell Miller 496 Kinderkamack Road Oradell, NJ 07649 201-261-8400 Ext. 432, Fax 800-361-9728 Web site: www.huntingtonlearning.com
Educational The 380-unit chain operates locations throughout 35 states nationwide. The centers, offering supplemental education for children age five to 17, occupy spaces of 1,800 sq.ft. to 2,500 sq.ft. in power and strip centers. Growth opportunities are sought nationwide during the coming 18 months. Typical leases run five years with a five-year option. Preferred cotenants include supermarkets. Preferred demographics include a population of 100,000 within a fivemile radius earning an average household income of $50,000. The company is franchising.
1ST Security Bank Ralph Barber c/o First Western Properties 520 Kirkland Way, Suite 100 Kirkland, WA 98033 425-822-5522, Fax 425-822-7440 Email: ralph@fwp-inc.com
Finance The 12-unit chain operates locations throughout WA. The banks occupy spaces of 3,500 sq.ft. in freestanding locations. Growth opportunities are sought throughout the existing market during the coming 18 months, with representation by First Western Properties.
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March 20, 2009
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www.dealmakers.net
Lead Sheet Extreme Retail (Canada), Inc. dba Buck or Two Nicky McDonald 8200 Jane Street Concord, Ontario, Canada L4K 5A7 905-738-3180, Fax 905-738-3176 Email: info@buckortwo.com Web site: www.buckortwo.com
General Merchandise The 120-unit chain operates locations throughout Canada. The general merchandise shops occupy spaces of 3,000 sq.ft. to 11,000 sq.ft. in malls and strip centers. Growth opportunities are sought throughout the existing market during the coming 18 months.
S & A Stores, Inc. dba S & A Stores Marie Vera 450 Fashion Avenue, Suite 701 New York, NY 10023-0101 212-244-2220 Ext. 13, Fax 212-239-4735
General Merchandise The 10-unit chain operates locations throughout NJ and NY. The general merchandise stores occupy spaces of 4,000 sq.ft. to 10,000 sq.ft. in downtown areas. Growth opportunities are sought throughout NJ, New York, NY and Philadelphia, PA during the coming 18 months. Typical leases run 20 years. Preferred cotenants include discount and value priced retailers.
Regis Corp. dba HairMasters David Foley 7201 Metro Boulevard Minneapolis, MN 55439 952-947-7000, Fax 952-947-7900 Email: david.foley@regiscorp.com Web site: www.regiscorp.com
Hair The 371-unit chain operates locations throughout CA, FL, ID, MT, NE, NH, NJ, OH, OR, SC and WA and throughout British Columbia and Ontario, Canada. The hair salons, providing hair care options for men, women and children, occupy spaces of 1,000 sq.ft. in neighborhood strip centers and malls. Growth opportunities are sought nationwide during the coming 18 months.
Ricky’s Adam Stupak c/o Winick Realty Group 655 Third Avenue, 8th Floor New York, NY 10017 212-792-2635 Email: astupak@winick.com Web site: www.winick.com
Health and Beauty The 22-unit chain operates locations throughout FL and Brooklyn, Long Island and New York, NY. The stores, offering professional hair care and accessories, face and body products and novelty items, occupy spaces of 2,000 sq.ft. to 3,000 sq.ft. in endcaps, freestanding locations, inline spaces, pad sites, strip centers and urban/downtown areas. Growth opportunities are sought throughout Boston, MA and Washington, DC during the coming 18 months, with representation by Winick Realty Group. The company prefers to locate in trendy markets.
Planet Beach Franchising Corp. dba Planet Beach Contempo Spa Ryan Stansbury 5161 Tara Vella Road Marerro, LA 70072 504-361-5550, Fax 504-361-5540 Email: ryan.stansbury@planetbeach.com Web site: www.planetbeach.com
Service The 381-unit chain operates locations nationwide, internationally and throughout Canada. The spas, offering massages, facials, full-body treatments, tanning and teeth whitening, occupy spaces of 1,600 sq.ft. to 2,000 sq.ft. in entertainment, lifestyle, power, specialty and strip centers in addition to freestanding locations. Plans call for 70 to 80 openings nationwide and internationally during the coming 18 months. Typical leases run five years with two, fiveyear options. Specific improvements, including HVAC and electrical service stipulations, are required. Preferred cotenants include Starbucks, Target, dry cleaners and grocery and drug stores. Preferred demographics include a population of 35,000 within a three-mile radius earning an average household income of $65,000. The company is franchising.
Charles David of California dba Charles David David Lann 5731 Buckingham Parkway Culver City, CA 90230 310-348-5050, Fax 310-342-6072 Email: david.lann@charlesdavid.com Web site: www.charlesdavid.com
Shoes The 26-unit chain operates locations throughout AZ, CA, FL, IL, MA, NJ, NY, PA and TX. The shoe stores occupy spaces of 1,200 sq.ft. to 1,600 sq.ft. in malls. Growth opportunities are sought nationwide during the coming 18 months. Typical leases run 10 years. Preferred cotenants include Ann Taylor, Banana Republic, BCBG, Bebe, Bloomingdale’s, Donna Karen, Macy’s and Nordstrom.
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March 20, 2009
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Lead Sheet Shoe Fly Shoe, Inc. dba Irving Shoes, Glicks Shoe and Shoe Fly Stores Todd Lewis PO Box 26 Tyrone, PA 16686 814-684-6040, Fax 814-684-6097 Email: todd@shoeflyshoe.com
Shoes The seven-unit chain operates locations throughout NY and PA. The shoe stores occupy spaces of 6,000 sq.ft. in lifestyle and strip centers. Plans call for one to two openings throughout PA during the coming 18 months. Typical leases run five years.
Payless ShoeSource Sharon Carmichael c/o Terranomics Retail Services 1350 Bayshore Highway, Suite 900 Burlingame, CA 94010 408-200-8811, Fax 408-200-8810 Email: scarmichael@terranomics.com Web site: www.terranomics.com
Shoes The 4,600-unit chain operates locations nationwide. The shoe stores occupy spaces of 2,700 sq.ft. to 3,000 sq.ft. in lifestyle, outlet, power, specialty and value centers in addition to downtown/urban locations. Plans call for one to two openings throughout northern CA during 2010, with representation by Terranomics Retail Services. Typical leases run five years. Preferred cotenants include Target.
Takken Enterprises, Inc. dba Takken’s Shoes Gerardo Aguinis or Stuart Zall c/o The Zall Co. 4725 South Monaco Street, Suite 340 Denver, CO 80237 303-804-5656, Fax 303-804-9696 Emails: gaguinis@zallcompany.com and szall@zallcompany.com Web site: www.takkens.com
Shoes The 25-unit location operates locations throughout CA. The shoe stores occupy spaces of 1,500 sq.ft. in lifestyle centers and malls. Growth opportunities are sought throughout CA, OR and WA during the coming 18 months, with representation by The Zall Co. Typical leases run 10 years. Preferred cotenants include fashion apparel stores. Major competitors include The Walking Co.
Empire Beauty Schools Jason Lenhoff c/o Horizon Realty Services, Inc. 1130 Lake Cook Road, Suite 280 Buffalo Grove, IL 60089 847-870-8585 Ext. 217, Fax 847-870-1888 Email: jlenhoff@horizonrealtyservices.com Web site: www.horizonrealtyservices.com
Specialty The 87-unit chain operates locations throughout AZ, CO, FL, GA, IL, IN, KY, MA, MD, ME, MI, MN, NC, NJ, NY, RI, VA and WI. The cosmetology schools occupy spaces of 9,000 sq.ft. to 12,000 sq.ft. Growth opportunities are sought throughout select markets of the Chicago, IL metropolitan area during the coming 18 months, with representation by Horizon Realty Services, Inc.
Calendar Club, LLC dba Go! The Game Store and Go! Toys Lori Lesko 6411 Burleson Road Austin, TX 78744 512-386-7220, Fax 512-369-6192 Web site: www.calendarclub.com
Temporary Tenant The 450-unit chain operates locations nationwide. The stores sell board games and related items. Go! The Game Store occupies spaces of 1,000 sq.ft. to 5,000 sq.ft. and Go! Toys occupies spaces of 1,400 sq.ft. to 3,000 sq.ft. in inline spaces of malls and lifestyle and outlet centers and kiosks in malls. Growth opportunities are sought throughout the existing market during the coming 18 months. Typical leases run six months. A vanilla shell is required.
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 14
March 20, 2009
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Dealmakers
www.dealmakers.net
Supermarket Chains Expand Nationwide (continued from page one)
Roundy’s Supermarkets, Inc. trades as Pick ‘n Save at 85 locations throughout IL and WI. The supermarkets, offering a full line of grocery items, occupy spaces of 45,000 sq.ft. to 70,000 sq.ft. in strip centers and freestanding locations. Growth opportunities are sought throughout the existing markets during the coming 18 months. Typical leases run 20 years. Specific improvements are required. Preferred cotenants include general merchandise stores. The company also trades as Rainbow Foods at 34 locations throughout MN. The supermarkets, offering a full line of grocery items, occupy spaces of 60,000 sq.ft. in strip centers. Growth opportunities are sought throughout the existing market during the coming 18 months. Typical leases run 20 years. Specific improvements are required. A land area of six acres is required. The company also trades as Copps Food Store at 26 locations throughout WI. The supermarkets, offering a full line of grocery items, occupy spaces of 45,000 sq.ft. to 70,000 sq.ft. in strip centers and freestanding locations. Growth opportunities are sought throughout the existing market during the coming 18 months. Typical leases run 20 years. Specific improvements are required. Preferred cotenants include general merchandise stores. Major competitors include Wal*Mart. A land area of six acres is required for freestanding sites. For more information, contact Dan Farrell, Roundy’s Supermarkets, Inc., 875 East Wisconsin Avenue, Milwaukee, WI 53202; 414-231-5882, Fax 414-231-7939; Email: dfarrell@roundys.com. Family Food Stores, Inc. trades as Family Food and Payless Foods at six locations throughout IA. The supermarkets, offering a full line of grocery items, occupy spaces of 20,000 sq.ft. in freestanding locations. Growth opportunities are sought throughout eastern IA, eastern IL and southern WI during the coming 18 months. For more information, contact Randy Goetz, Family Food Stores, Inc., 214 West 5th Street, Tipton, IA 52772; 563-886-3156, Fax 563-886-3157. Carter’s Food Center trades as Allen’s Discount Foods and Carter’s Food Center at two locations in AR and OK. The supermarkets, offering a full line of grocery items, occupy spaces of 30,000 sq.ft. in strip centers. Growth opportunities are sought throughout the existing markets during the coming 18 months. For more information, contact Blake Allen, Carter’s Food Center, 102 North Scraper Street, Vinita, OK 74301; 918-256-5541; Fax 918-256-6176. DM
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Connecticut
Connecticut
Branford – Branhaven Plaza, a 191,352 sq.ft. center located on West Main Street, has spaces available from 1,800 sq.ft. to 2,666 sq.ft. Kohl’s and A&P Super Foodmart anchor the center. Cotenants include Bank of America, The Children’s Place, Hallmark, Dots, GameStop, Jenny Craig, Gap, GNC, Justice, Mario & Joseph’s, New China Garden, Olympia Sports, Payless ShoeSource, RadioShack, Shoetique and Supercuts. Area retail includes Starbucks, Walgreens, FedEx Office, CVS, Wal*Mart, Subway, Blockbuster Video, dressbarn, Dollar Tree, Staples and Pier 1 Imports. Area demographics include a population of 105,916 within five miles earning $64,346 as the average household income. The average daily traffic count is 24,300 vehicles. Derby – ShopRite Shopping Center, located on Pershing Drive, has spaces available from 1,650 sq.ft. to 5,500 sq.ft. ShopRite anchors the center and cotenants include Sleepy’s, Petland, Sally Beauty Supply, Angel Tips Nail Salon, Curves, Just-A-Buck, City Buffet & Grill, Pay-Half, Advance Auto Parts and Naugatuck Savings Bank. Area retail includes Home Depot, Stop & Shop, Xpect Discounts, Eblens, Burger King, Dunkin’ Donuts, KFC, RadioShack, Target, Bob’s Stores, Big Y, Marshalls, CVS and BJ’s Wholesale Club. Area demographics include a population of 94,456 within five miles earning $85,467 as the average household income. Newington – Jo-Ann’s Plaza, a 150,000 sq.ft. center located on Berlin Turnpike, has a 4,400 sq.ft. space available along with divisible spaces of 2,450 sq.ft. and 7,500 sq.ft. Jo-Ann Fabrics and Big Lots anchor the center. Cotenants include Modell’s, T.G.I. Friday’s, Chuck E. Cheese’s, FedEx Office, RadioShack, Dollar Tree, GNC, T-Mobile, Planet Fitness, Ming Palace Chinese, Artistic Nails and Shear Success Hair Salon. Area retail includes Target, Price Chopper, Stew Leonard’s, Sam’s Club, Toys “R” Us, Sprint, Panera Bread, Arby’s, Outback Steakhouse, Lowe’s Home Improvement, Wal*Mart, Applebee’s, Staples, Bob’s Discount Furniture, Basset Furniture, Verizon Wireless, Home Depot, Dick’s Sporting Goods, Subway, GameStop, Supercuts and Cold Stone Creamery. Area demographics include a population of 188,095 within five miles earning $68,135 as the average household income. The average daily traffic count is 38,000 vehicles. North Haven – Home Depot Plaza, a 331,919 sq.ft. center situated on 31.7 acres at the intersection of Universal Drive North and Interstate 91, has spaces available from 2,500 sq.ft. to 5,000 sq.ft. along with an 8,646 sq.ft. freestanding building with a drive-
thru. Home Depot anchors the center and cotenants include T.J. Maxx, BJ’s Wholesale Club, Xpect Discounts, Better Bedding, Dunkin’ Donuts, GameStop, GNC, Golf Etc., Leslie’s Swimming Pool, Rainbow Shops, McDonald’s, North Haven Wine & Spirits, Subway and Verizon Wireless. Area retail includes Target, Michaels, Barnes & Noble, Bernie’s Appliances, Staples, Panera Bread, Cold Stone Creamery, Friendly’s, Joyce Leslie, Lane Bryant, Payless ShoeSource, Ruby Tuesday, Sleepy’s, The Sports Authority, T-Mobile and Wendy’s. Area demographics include a population of 209,981 within five miles earning $64,487 as the average household income. The average daily traffic count is 112,800 vehicles. Norwalk – ShopRite Shopping Center, a 125,000 sq.ft. center located on Connecticut Avenue, has spaces available of 980 sq.ft. and 1,920 sq.ft. along with a divisible space of 20,000 sq.ft. ShopRite anchors the center and cotenants include Barnes & Noble, The UPS Store, Webster Bank, Angel Tips Nail Salon, GameStop and Aspen Dental. Area retail includes Wal*Mart, Kohl’s, Home Depot, Stop & Shop, Costco, Old Navy, The Sports Authority, T.J. Maxx, Best Buy, Raymour & Flanigan, PetSmart and Toys “R” Us. Area demographics include a population of 148,752 within five miles earning $138,303 as the average household income. The average daily traffic count is 29,900 vehicles. Orange – Firelite Shopping Center, located on Old Tavern Road, has spaces available from 1,000 sq.ft. to 4,000 sq.ft. along with a 1,500 sq.ft. freestanding building. Area retail includes Christmas Tree Shops, AutoZone, Goddard School, Harmon Cosmetics, Famous Footwear, LA Fitness, Burlington Coat Factory, Staples, Dollar Tree, Chuck E. Cheese’s, U.S. Postal Service, Party City, CVS, L.L.Bean, Trader Joe’s, Lowe’s Home Improvement, Sam’s Club, Best Buy, Target, Kohl’s and Home Depot. Area demographics include a population of 173,367 within five miles earning $67,892 as the average household income. Stamford – Grade A/ShopRite Plaza, a center located on West Main Street/Route 1, has a 2,000 sq.ft. space available. ShopRite anchors the center and cotenants include Blockbuster Video, Palm Beach Tans, Dunkin’ Donuts, First County Bank, Tahiti’s Spa, Sleepy’s, Subway, Route 22 Restaurant, Superior Dry Cleaners, Laser Works, Great Play, Ballet Des Enfants, Windowrama and Buy the Bottle Wine & Liquor Store. Area retail includes Stop & Shop, Ethan Allen, New York Sports Club, City Limits Diner and Marty’s Shoes. Area demographics include a population of
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Connecticut (continued from page fourteen)
169,001 within five miles earning $134,338 as the average household income. For details, contact Jeff Kintzer, Royal Properties, Inc. 850 Bronx River Road, Bronxville, NY 10708; 914237-3403, Fax 914-237-0196; Email: jeff@royalpropertiesinc.com; Web site: www.royalpropertiesinc.com. For additional details regarding the Branford, Newington and North Haven properties, contact Scott Meshil; Email: scott@royalpropertiesinc. com. For additional details regarding the Orange property, contact Craig Benson; Email: craig@royalpropertiesinc.com.
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Florida
Georgia
Sarasota – Sarasota Commons, a 158,000 sq.ft. strip center, has spaces available of 1,895 sq.ft. and 3,600 sq.ft. Publix anchors the center and cotenants include U.S. Postal Service, Lifestyle Family Fitness, Aaron Rents, H&R Block, CitiFinancial and Del Mar’s Baja Mexican. Area demographics include a population of 165,937 within five miles earning $48,082 as the median household income. The average daily traffic count is 30,000 vehicles. Tavernier – Tavernier Towne Center, a 118,964 sq.ft. strip center located on Overseas Highway, has spaces available of 850 sq.ft.; 1,700 sq.ft. and 4,200 sq.ft. Cotenants include Winn-Dixie, Pier 1 Imports, U.S. Postal Service, Tavernier Towne Cinema, Family Dollar, Subway, Blockbuster Video and McDonald’s. Trade-area demographics include a population earning $49,261 as the median household income. The average daily traffic count is 60,000 vehicles. For details, contact Nicole Christodoulou, Commodore Realty, 30 West Mashta Drive, Suite 400, Key Biscayne, FL 33149; 305365-2600 Ext. 40, Fax 305-365-0800; Email: nicole@commodorerealty.com; Web site: www.commodorerealty.com.
Cartersville – Collins Pointe Plaza, an 81,042 sq.ft. center located at the intersection of U.S. Highway 41 and Market Place Boulevard, has a divisible space of 46,300 sq.ft. available along with an outparcel. Area retail includes Wal*Mart, Lowe’s Home Improvement and Badcock Home Furniture & More. Area demographics include a population of 79,476 within 10 miles earning $63,102 as the average household income. Hiram – Paulding Pavilion, a 65,042 sq.ft. center located at the intersection of U.S. Highway 278 and Georgia Highway 92, has space available, including 2,000 sq.ft. in an outparcel. Staples and The Sports Authority anchor the center. Area demographics include a population of 293,641 within 10 miles earning $77,513 as the average household income. The average daily traffic count is 20,030 vehicles. For details, contact David Landrum, Ramco Gershenson, Inc., 2880 Holcomb Bridge Road, Suite 120, Alpharetta, GA 30022; 678461-9142; Web site: www.rgpt.com.
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March 20, 2009
The
Illinois Crestwood – Crestwood Center, a 12,900 sq.ft. strip center located at the intersection of 138th Street and Cicero Avenue, has a 1,000 sq.ft. space available. Area demographics include a population of 1.2 million within 10 miles earning $72,848 as the average household income. The asking rent is $15 psf. Harvey – Southwest Shopping Center, a 75,000 sq.ft. mall located at the intersection of 148th Street and South Dixie Highway, has spaces available of 2,500 sq.ft. and 5,000 sq.ft. Cotenants include Dollar General, Murray’s, Foot Locker, Jackson Hewitt and Harvey Fresh Market. Area demographics include a population of 1.223 million within 10 miles earning $69,807 as the average household income. The average daily traffic count is 24,960 vehicles. The asking rent is $14 psf. Warrenville – Ferry Creek Plaza, a 12,522 sq.ft. strip center located at the intersection of Route 59 and Meadow Avenue, has spaces available of 1,360 sq.ft. and 4,624 sq.ft. Cotenants include Roma D’Italia, Minuteman Press, Kemerley Optical and Hometown Pantry. Area demographics include a population of 862,734 within 10 miles earning $111,982 as the average household income. The asking rent is $13 psf. For details, contact George Spirrison or Simeon Spirrison, Adelphia Propeties, PO Box 4974, Oak Brook, IL 60522; 630-4554495; Email: spirrison1@yahoo.com. (continued on page eighteen)
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Space Place Louisiana
(continued from page sixteen)
Bossier City – Louisiana Boardwalk, a 575,000 sq.ft. mixed-use center located along Red River, has spaces available from 1,446 sq.ft. to 5,294 sq.ft. Bass Pro Shops, Regal Cinemas, Nike Outlet and Funny Bone anchor the center. Cotenants include Sushiko, IHOP, Casual Male Big & Tall, Earthbound Trading Co., Pretty Cosmetics Le Mode, Haggar, Joe’s Crab Shack, dressbarn, Samsonite, Stride Rite, The Linen Outlet, Lane Bryant, Claire’s, Rack Room Shoes, Hooters, OshKosh B’gosh, Build A Bear, Carter’s, Gymboree, Reebok, Guess, Cold Stone Creamery, Papaya Clothing, White House|Black Market, DKNY, Easy Spirit, Wilsons Leather, Fossil, Banana Republic, Nine West, Bonworth, Chico’s, Old Farmer’s Almanac, Auntie Anne’s, Shane & Co., Buffalo Wild Wings, Bath & Body Works, rue21, The Children’s Place, Adidas, Gap and Rainbow. Trade-area demographics include a population of 400,000 earning $54,195 as the average household income. For details, contact O&S Holdings, 9247 Alden Drive, Beverly Hills, CA 90210; 310207-8600, Fax 310-207-2288; Web site: www.osholdings.com.
Louisiana
Louisiana
Gretna – Westbank Crossing Shopping Center, a 280,000 sq.ft. strip center located at the intersection of Westbank Expressway and Stumpf Boulevard, has spaces available of 3,500 sq.ft. and 10,500 sq.ft. along with outlots of 41,112 sq.ft. and 88,800 sq.ft. Academy Sports & Outdoors anchors the center and cotenants include CitiTrends, Dollar General, Rainbow Fashions, Sally Beauty Supply and Casey Jones Supermarket. Area demographics include a population of 399,786 within five miles earning $55,078 as the average household income. Kenner – Chateau Commons, a 49,750 sq.ft. strip center situated on 5.9 acres at the intersection of West Esplande Avenue and Chateau Boulevard, has spaces available of 1,600 sq.ft. and 2,400 sq.ft. Walgreens anchors the center and cotenants include Starbucks, Sake Café, Quiznos, Reginelli’s Pizzeria, St. Charles Vision, Jackson Hewitt, Inches-AWeigh, Beneficial, Planet Beach, Anytime Fitness, Envy Bridal Boutique and Sweet Pea Children’s Boutique. Area retail includes Esplande Mall. Area demographics include a population of 61,726 within five miles earning $59,671 as the average household
income. Metairie – A freestanding building situated on 3.2 acres on Airline Highway has space available. Area demographics include a population of 412,978 within five miles earning $69,005 as the average household income. The average daily traffic count is 38,327 vehicles. For details regarding the Gretna and Metairie properties, contact Jeffrey Moore, Realm Realty, 900 Town & Country Lane, Suite 210, Houston, TX 77024; 713-4650001; Email: jlmoore@realmrealty.com; Web site: www.realmrealty.com. For details regarding the Kenner property, contact Kathy King; Email: kking@realmrealty.com.
HOT Commercial Real Estate Market in N.E. Columbia, SC
RETAIL SPACE AVAILABLE
3 Lots:
Muncie, IN | Mall Corner 1220 E Mc Galliard Rd. 5,880/32,508 sq. ft.
3 Acre Corner Lot—Zoned C3 2 Acre Corner Lot—Zoned C3 7.4 Acre Lot—Zoned M1 1338’ Road Frontage; Open Zoning (Medical, Retail, Office, Apartments, Industrial, Manufacturing, etc.)
Muncie, IN | Granville Sq. 2900-3124 Granville Ave. 18,097/34,651 sq. ft.
Excellent Proximity— Just Minutes to I-77 & Clemson Rd.
Muncie, IN | Chateau Center 2501 – 2511 N Walnut St. 4,400/10,760 sq. ft.
Close to I-20 & I-26.
Kokomo, IN |Jackson Sq. 1700-1716 W Blvd. 4,000/10,400 sq. ft.
High Disposable Income Area
FMI, contact owner: Atul Bhargava Office (317) 216-7255 Cell (317) 201-3277 atul@thecomputercenter.com
Flexible Terms
Contact Todd 803-513-7625
seeking tenants, buyers, and equity partners page 18
March 20, 2009
Houma – Houma Market Place, a 188,556 sq.ft. center located at the intersection of Highway 3040/Martin Luther King Jr. Boulevard and Corporate Drive, has space available. Hobby Lobby anchors the center and cotenants include Cuppy’s Coffee, Buffalo Wild Wings, Ace Cash Express, Sport Clips, Zen Japanese Restaurant Grill & Sushi Bar and Stage. Area retail includes Albertsons, Academy, Office Depot, Ashley Furniture, OfficeMax, Old Navy, Dillard’s,
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Louisiana
Michigan
Nebraska
Pier 1 Imports, Dollar General, Ross Dress for Less, Dollar Tree, Sears, dressbarn, Shoe Carnival, Home Depot, Target, JCPenney, Wal*Mart and Michaels. Tradearea demographics include a population of 172,576 earning $63,510 as the average household income. The average daily traffic count is 35,813 vehicles. For details, contact The Woodmont Co., 2100 West 7th Street, Fort Worth, TX 76107; 817-732-4000, Fax 817-735-4738; Web site: www.woodmont.com.
Knapp’s Corner Shops & Offices, a 66,000 sq.ft. mixed-use center situated on six acres at the intersection of East Beltline Avenue Northeast and Knapp Street Northeast, has spaces available of 1,165 sq.ft.; 1,568 sq.ft. and 2,610 sq.ft. Meijer shadow-anchors the center and cotenants include AmBest Optical, Koeze’s Nuts & Chocolates, PakMail, Quiznos, Lakeshore Sewing and Barking Beauty. Area retail includes IMAX, Meijer and Celebration Village. Area demographics include a population of 145,224 within five miles earning $65,534 as the average household income. The average daily traffic count is 48,500 vehicles. The asking rent ranges from $10 psf to $18 psf with CAM and taxes of $5.11 psf. Kentwood – Corner Shops at Woodland, a 21,200 sq.ft. strip center situated on 2.8 acres at the intersection of 28th Street Southeast and Broadmoor Southeast, has spaces available of 1,120 sq.ft.; 1,150 sq.ft. and 1,480 sq.ft. Jared - The Galleria of Jewelry and Fidelity anchor the center. Area retail includes Woodland Mall, Center Pointe Mall and Lowe’s Home Improvement. Area demographics include a population of 181,753 within five miles earning $63,716 as the average household income. The average daily traffic count is 36,200 vehicles. The asking rent is $29 psf. For details, contact Mark B. Muller, Ben M. Muller Realty Co., Inc., 98 Ottawa Avenue Northwest, Grand Rapids, MI 49503; 616-456-7114, Fax 616-456-6025; Email: mmuller@mullerrealty.com; Web site: www.mullerrealty.com.
count is 56,400 vehicles. The asking rent ranges from $16.50 psf to $19.80 psf. Also, Legacy Court, a 37,267 sq.ft. strip center located at the intersection of 175th Street and West Center Road, has spaces available from 1,325 sq.ft. to 6,010 sq.ft. Area retail includes Target, Wal*Mart and Shoppes at Lakeside. Area demographics include a population of 139,622 within five miles earning $100,992 as the average household income. The average daily traffic count is 53,450 vehicles. The asking rent ranges from $15.50 psf to $18.50 psf. Also, a 13,650 sq.ft. strip center located on Dodge Plaza, has a divisible space of 13,650 sq.ft. available. Costco and Menards anchor the center. Area demographics include a population of 241,416 within five miles earning $86,321 as the average household income. The average daily traffic count is 80,000 vehicles. The asking rent ranges from $21.95 psf to $23.95 psf. For details, contact Nancy Klauschie, Coldwell Banker Commercial World Group, 780 North 114th Street, Omaha, NE 68154; 402-697-8899, Fax 402-697-8585; Email: nklauschie@worldgroupllc.om; Web site: www.worldgroupllc.com. For additional details regarding Cherry Hills Village, contact Ryan Callinan; Email: rcallinan@worldgroupllc.com. For additional details regarding Legacy Court, contact Jim Vokal; Email: jvokal@worldgroupllc.com. For additional details regarding the Dodge Plaza property, contact Trenton Magid; Email: tmagid@worldggroupllc.com.
Michigan Grand Rapids – Breton Business Center, a 40,270 sq.ft. strip center situated on 4.1 acres, has spaces available of 2,000 sq.ft.; 4,000 sq.ft. and 6,000 sq.ft. Keyboard World of Grand Rapids anchors the center and cotenants include Aesthetica Salon, Carlson Wagonlit Travel and CosmoProf. Area retail includes Israel’s Furniture and Flooring, Woodland Mall and Center Pointe Mall. Area demographics include a population of 229,270 within five miles earning $53,528 as the average household income. The average daily traffic count is 46,900 vehicles. The asking rent ranges from $9 psf to $10 psf with CAM and taxes of $3.30 psf. Also, Breton Meadows Shopping Center, a 47,130 sq.ft. strip center situated on 6.32 acres at the intersection of 44th Street Southeast and Breton Road Southeast, has spaces available of 1,300 sq.ft.; 1,600 sq.ft. and 5,200 sq.ft. D&W and Walgreens shadow-anchor the center. Cotenants include Admiral Tobacco, FEDCom Credit Union, First Wok, Brighter Beginnings Daycare and Subway. Area retail includes Horrocks Market. Area demographics include a population of 187,789 within five miles earning $54,756 as the average household income. The average daily traffic count is 39,909 vehicles. The asking rent ranges from $10 psf to $13 psf with CAM and taxes of $4.22 psf. Also, Main Street Business Center, a 46,066 sq.ft. mixed-use center situated on 2.26 acres at the intersection of East Beltline Avenue Northeast and Knapp Street Northeast, has spaces available of 1,300 sq.ft.; 1,536 sq.ft. and 1,755 sq.ft. Melting Pot and Verizon Wireless anchor the center. Cotenants include Snip-its for Kids and Ming Ten. Area retail includes Meijer and IMAX. Area demographics include a population of 145,224 within five miles earning $65,534 as the average household income. The average daily traffic count is 48,500 vehicles. The asking rent ranges from $15 psf to $20 psf with CAM and taxes of $5.07 psf. Also,
Mississippi Ridgeland – Northpark Commons, a 9,500 sq.ft. center located on County Line Road, has a divisible space of 6,500 sq.ft. available. Cotenants include Wireless Wizard. Area retail includes Northpark Regional Mall. For details, contact Holly Evans, The SmithEdwards Co., 400 Legacy Park, Ridgeland, MS 39157; 601-214-9701, Fax 601-9770853; Email: holly332@comcast.net.
Nebraska Omaha – Cherry Hills Village, a 43,936 sq.ft. strip center located at the intersection of Interstate 680 and Blair High Road, has spaces available from 325 sq.ft. to 3,600 sq.ft. Cotenants include Legends Bar & Grille and Sam & Louie’s Pizza. Area retail includes Wal*Mart Supercenter. Area demographics include a population of 93,621 within five miles earning $74,799 as the average household income. The average daily traffic www.dealmakers.net
The
New Jersey Bricktown – The Shops at Brick, a 104,500 sq.ft. center located at the intersection of Route 70 and Van Zile Road, has space available. Big Lots anchors the center and cotenants include Aldi, Pure Focus Sports Club, Bone Fish Grill, National Vision and McDonald’s. Area demographics include a population of 451,916 within 10 miles earning $78,489 as the average household income. Cape May Courthouse – Acme Plaza, a 161,500 sq.ft. center located at the intersection of Magnolia Drive and Courthouse Road, has space available. Acme anchors the center and cotenants include Marshalls, Staples, Pier 1 Imports, CVS, Fashion Bug, RadioShack and Wendy’s. Area demographics include a population of 64,000 within 10 miles earning $43,100 as the average household income. South Plainfield – Golden Acres, a 224,650 sq.ft. center located at the intersection of Route 604/Oak Tree Road and Route 531/ Park Avenue, has space available. Hong Kong
Dealmakers
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Market anchors the center and cotenants include U.S. Factory Outlets, Shoppers World, Rainbow Apparel and Big Lots. Area demographics include a population of 1.027 million within 10 miles earning $80,000 as the average household income. For details, contact Polimeni International, 600 Old Country Road, Suite 425, Garden City, NY 11530; 516-393-9000, Fax 516393-9771; Web site: www.polimeni.com.
Oklahoma Norman – Parkway Plaza, a 262,624 sq.ft. center located on Ed Noble Parkway, has spaces available of 1,688 sq.ft.; 5,928 sq.ft.; 7,500 sq.ft. and 16,848 sq.ft. Toys “R” Us and Bed Bath & Beyond anchor the center. Cotenants include Michaels, Barnes & Noble, J’s Hallmark, Ulta Salon, OfficeMax, Ross Dress for Less, PetSmart, Sports Clips, Leslie’s Pools, Lewis Jewelers, H&R Block, T-Mobile, Missal of India, At the Beach, Procuts, Al’s Formal Wear, Marble Slab Creamery and Souper Salad. Area demographics include a population of 93,143 within five miles earning $61,740 as the average household income. For details, contact Ray Sankovich,
Oklahoma
Oregon
Zamias Services, Inc., 29195 Bassett Road, West Lake, OH 44145; 440-899-6716; Email: rsankovich@zamias.net; Web site: www.zamias.com.
Block. Area retail includes Winco Foods, Wal*Mart, Walgreens and Rite Aid. Area demographics include a population of 138,351 within five miles earning $65,904 as the average household income. The average daily traffic count is 37,000 vehicles. The asking rent ranges from $17 psf to $19 psf with CAM of $4.08 psf. For details, contact Alex Rhoten, Tiffany Jones or Staci Herndon, Coldwell Banker Commercial|Mt. West Real Estate, LLC, 250 Division Street Northeast, Salem, OR 97301; 503-587-4777, Fax 503-587-4778; Email: arhoten@cbcre.com; Web site: www.cbcre.com.
Oregon Keizer – Baker Plaza, a 42,922 sq.ft. strip center situated on 0.98 acres at the intersection of River Road North and Chemawa Road, has spaces available of 2,404 sq.ft. and 2,682 sq.ft. Area retail includes Roth’s Supermarket, Safeway and Walgreens. Area demographics include a population of 36,150 within 10 miles. The average daily traffic count is 25,485 vehicles. For details, contact Lorene F. McMurrin, SMI Commercial Real Estate, 3625 River Road North, Keizer, OR 97303; 503390-6060, Fax 503-390-6868; Email: lorene@smicre.com; Web site: www.smicre.com. Salem – Cherry City Center, a 10,322 sq.ft. strip center situated on 4.91 acres at the intersection of Kuebler Boulevard and Keglers Lane, has spaces available of 1,872 sq.ft.; 3,069 sq.ft. and 3,981 sq.ft. Big 5 Sporting Goods and Hollywood Video anchor the center. Cotenants include Cold Stone Creamery, Perfect Look and H&R
Tennessee Cookeville – Cumberland Station has spaces available of 900 sq.ft. and 3,000 sq.ft. For details, contact Vijay K. Shah, Rivercrest Realty Investors, 8816 Six Forks Road, Suite 201, Raleigh, NC 27615; 919-5182000; Email: vshah@rivercrestrealty.com; Web site: www.rivercrestrealty.com. Germantown – Germantown Village Square, a 200,000 sq.ft. center located on Poplar Avenue, has space available. Area retail includes Germantown Crossing,
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Tennessee
Tennessee
Exeter Village, Germantown Collection and Saddle Creek. Area demographics include a population of 579,870 within 10 miles earning $97,741 as the average household income. The average daily traffic count is 86,086 vehicles. Memphis – Harbin Shopping Center, a 41,000 sq.ft. center located at the intersection of U.S. Highway 51/Elvis Presley Boulevard and Raines Road, has space available. Area retail includes South Plaza Shopping Center. Area demographics include a population of 502,398 within 10 miles earning $53,262 as the average household income. Also, Mendenhall Square Shopping Center, a 225,000 sq.ft. strip center located at the intersection of Mendenhall Road and Winchester Road, has space available. Area demographics include a population of 648,342 within 10 miles earning $86,716 as the average household income. The average daily traffic count is 63,518 vehicles. Also, Gateway Shopping Center, a 185,000 sq.ft. center located at the intersection of Jackson Avenue and Macon Road, has space available. Area demographics include a population of 659,086 within 10 miles earning $76,250 as the average household income. Also, Belwin Shopping Center, a 15,000 sq.ft. center located at the intersection of U.S. Highway 51/Elvis Presley Boulevard and Winchester Road, has space available. Area retail includes South Plaza Shopping Center. Area demographics include a population of 559,393 within 10 miles earning $67,514 as the average household income. The average daily traffic count is 65,000 vehicles. Also, Eastgate Shopping Center, a 484,384 sq.ft. center located on Park Avenue between White Station Road and Mt. Moriah Road, has space available. Cotenants include Burlington Coat Factory, T.J. Maxx and Stein Mart. Area retail includes Bed Bath & Beyond, Home Depot and Schnucks. Area demographics include a population of 767,170 within 10 miles earning $83,651 as the average household income. The average daily traffic count is 48,256 vehicles. Also, South Plaza Shopping Center, a 350,000 sq.ft. center located at the intersection of U.S. Highway 51/Elvis Presley Boulevard and Raines Road, has space available. Area demographics include a population of 525,906 within 10 miles earning $54,162 as the average household income. The average daily traffic count is 69,836 vehicles. For details, contact Belz Enterprises, 100 Peabody Place, Suite 1400, Memphis, TN 38103; 901-260-7300; Web site: www.belz.com.
B. Dennis Highway, has spaces available of 1,480 sq.ft. and 3,500 sq.ft. Area retail includes McDonald’s. Area demographics include a population of 59,541 within five miles earning $58,383 as the average household income. The average daily traffic count is 24,120 vehicles. The asking rent ranges from $14 psf to $16 psf with CAM of $1.75 psf. For details, contact Tina Holt, Green Commercial Realty, Inc., 131 Pickens Bridge Road, Johnson City, TN 37601; 423-2821176 Ext. 202, Fax 423-282-1137; Email:
tina@greencommercialrealty.com; Web site: www.greencommercialrealty.com.
Kingsport – Park Place, a 12,600 sq.ft. strip center situated on one acre on John
Memphis – A center situated on 8.57 acres on State Route 175/Shelby Drive has outlots available of 21,780 sq.ft.; 43,560 sq.ft. and 373,309 sq.ft. Kroger anchors the center. Area retail includes Gleneagles Court, featuring H&R Block, Beauty Depot, McDonald’s, Subway and CitiFinancial and Shelby Square, featuring Wal*Mart Neighborhood Market and Fred’s. Area demographics include a population of (continued on page twenty-two)
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149,868 within five miles earning $75,255 as the average household income. The average daily traffic count is 26,000 vehicles. For details, contact Sean Balnes, Neyer Holdings Corp., 425 Walnut Street, Suite 2112, Cincinnati, OH 45202; 513421-2000, Fax 513-421-2111; Email: sbalnes@neyerholdings.com; Web site: www.neyerholdings.com. Lewisville – Garden Park, a 178,335 sq.ft. center, has spaces available from 971 sq.ft. to 30,090 sq.ft. along with a 0.73-acre outparcel. Cotenants include Stein Mart, Christian Family Bookstore and Oishi Hibachi & Sushi. North Richland Hills – Rufe Snow Village, a 99,331 sq.ft. center, has spaces available from 1,020 sq.ft. to 17,000 sq.ft. Cotenants include 99¢ Only, Aaron Rents, American General, Jackson Hewitt, Baskin Robbins and CD Warehouse. For details, contact Jeffrey James or Michael Callahan, Lamar Cos., 365 South Street, Morristown, NJ 07960; 877-797-1472 or 973-285-0660, Fax 973-285-9236; Web site: www.lamarcompanies.com.
Virginia
Virginia
Madison Heights – Madison Heights Retail Center, a strip center, has spaces available of 1,600 sq.ft. and 3,040 sq.ft. Cotenants include Movie Gallery, RadioShack, Advance America, Little Caesar’s and Hometown Furniture. Area retail includes Wal*Mart Supercenter, Sonic Drive-In, Pizza Hut and Auto Zone. Area demographics include a population of 27,000 within 10 miles earning $54,000 as the average household income. The average daily traffic count is 35,000 vehicles. For details, contact Alan Miller, Frontier Development, 1865 Northeast 203rd Street, Suite 216, Miami, FL 33180; 305-692-9992, Fax 305-692-3032; Email: amiller@fdllc.com; Web site: www.fdllc.com.
household income. For details, contact Monique Ward, Adirondack Retail Consultants, Inc., 7611 Merle Ridge, Baldwinsville, NY 13027; 315-622-7500, Fax 315-622-7600; Email: mward109@tweny.rr.com.
Norfolk – Westin Norfolk Hotel & Conference Center, a mixed-use center located at the intersection of Main Street and Granby Street, has an 8,236 sq.ft. restaurant space available. Area retail includes MacArthur Center Mall. Area demographics include a population of 737,139 within 10 miles earning $59,078 as the average
Princeton – East River Plaza has a 30,030 sq.ft. space available. For details, contact Vijay K. Shah, Rivercrest Realty Investors, 8816 Six Forks Road, Suite 201, Raleigh, NC 27615; 919-518-2000; Email: vshah@rivercrestrealty.com; D M Web site: www.rivercrestrealty.com.
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West Virginia Parkersburg – Park Shopping Center has space available. Cotenants include Big Lots, Gabriel Brothers, Crafts 2000, Dollar Tree and Bob Evans. For details, contact Brad Glazer, Park Shopping Center, LLC, 9200 Floral Avenue, Cincinnati, OH 45242-6954; 513-936-4801, Fax 513-936-4808; Email: park@glazer.net; Web site: www.glazer.net/park.
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March 20, 2009
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Looking for Acquisitions • Leasing Great Sites
LEASING
Rivercrest Realty has space available in anchored shopping centers along the East Coast. For leasing, contact: Vijay K. Shah (NC, TN, VA, WV, MD, DE) (919) 518-2000 vshah@rivercrestrealty.com Debbie Lewis (SC, GA, FL) (919) 518-2000 dlewis@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 • 30,000+ SF Shop Space 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
435 – 2,980 SF 1,273 – 4,415 SF
DELAwArE Seaford
Sussex Plaza
2,000 & 3,000 SF
FLOrIDA Wilton Manors
Shoppes of Wilton Manors
GEOrGIA Atlanta Augusta Macon
Lenox Village Southpointe Plaza Walnut Creek Plaza
MAryLAND Landover Pocomoke City Fruitland
Landover Crossing East Town Plaza Southtowne Commons
2,000 – 119,244 SF 3,000 SF Fully Leased
NOrTH CArOLINA Advance Chapel Hill Charlotte Charlotte Durham Durham Forest City Hendersonville Raleigh Shelby Smithfield Southport Taylorsville Winston-Salem
Kinderton Place Timberlyne Archdale Marketplace Royal Plaza Parkway Plaza The Village Hillside Plaza Highlands Square Millbrook Collection Creekside Plaza Smithfield Plaza Tidewater Plaza Taylorsville Hanes Commons
1,309 & 1,787 SF 500 – 2,400 SF 2,400 - 4,031 SF 520 – 6,676 SF Fully Leased 1,000 – 11,700 SF 1,500 – 25,000 SF 2,500 – 4,000 SF 1,225 – 2,150 SF 3,120 SF 1,500 & 3,000 SF 3,000 SF 1,200 – 8,363 SF 1,400 & 3,300 SF
SOUTH CArOLINA Boiling Springs Columbia Florence Gaffney Georgetown Greenville Greenville Greenville Greenwood Greer 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 East Towne Centre Village Square Northwood Plaza Plantation Point Surfside Commons
1,600 & 2,000 SF 2,000 – 35,000 SF 3,200 SF 2,000 & 3,200 SF 1,200 – 3,000 SF 998 – 5,400 SF 1,500 – 4,000 SF 4,000 SF 4,500 – 27,500 SF 2,000 SF Fully Leased 800 & 1,493 SF 1,103 – 6,400 SF 2,458 – 4,122 SF 4,000 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
1,284 & 15,423 SF 1,540 SF Fully Leased 2,000 – 6,000 SF
900 & 3,000 SF 2,000 & 30,000 SF 2,800 SF 2,400 SF 3,000 – 9,000 SF 1,600 SF 1,200 SF 30,030 SF
™
Our Company owns 123 shopping center properties, of which more than 75% are anchored by supermarkets and/or drugstores with long leases. Our stabilized properties are 96% leased and we have no meaningful exposure to fashion, luxury, big box retailers, full-service department stores or other similar concepts in our portfolio.
™