Reporting The Nation’s Weekly News on Retailing & Retail Real Estate
Volume XXVI No. XII
March 25, 2011
Supermarket Chains Expand Nationwide Aldi, Inc. trades as Aldi at 1,000 locations nationwide throughout 29 states. The discount supermarkets occupy spaces of 15,000 sq.ft. to 16,500 sq.ft. in freestanding locations. Growth opportunities are sought throughout NC, SC and southern VA during the coming 18 months. For more information, contact Todd Bonnett, Aldi, Inc., 1985 Old Union Church Road, Salisbury, NC 28146; 704-642-0023 Ext. 122; Web site: www.aldi.com. J.H. Harvey Co. trades as Harvey’s at 70 locations throughout northern FL, GA and SC. The supermarkets occupy spaces of 30,000 sq.ft. to 40,000 sq.ft. in freestanding locations and strip centers. Growth opportunities are sought throughout the existing markets during the coming 18 months. For more information, contact Department of Real Estate, J.H. Harvey Co., PO Box 646, Nashville, GA 31639; 229-6867654, Fax 229-686-2927; Web site: www.harveys-supermarkets.com. G.F. Buche Co. trades as Buche’s Foods and Gus Stop at eight locations throughout SD. The supermarkets occupy spaces of 14,000 sq.ft. in freestanding locations. Growth opportunities are sought throughout the existing market during the coming 18 months. For more information, contact R.S. Buche III, G.F. Buche Co., 102 South Main Street, Wagner, SD 57380; 605-384-3964, Fax 605-384-4333.
Healthway Natural Foods operates 11 locations throughout MD and VA. The supermarkets, exclusively offering all-organic food items as well as all-natural health and beauty items, occupy spaces of 2,400 sq.ft. to 10,000 sq.ft. in various types of spaces. Growth opportunities are sought throughout the Washington, DC metropolitan area during the coming 18 months, with representation by Renaud Consulting. For more information, contact Josh Weiner or John Marigliano, Renuad Consulting, 8605 Westwood Center Drive, Suite 309, Vienna, VA 22182; 571-765-4430/4423; Emails: jweiner@renaudconsulting.net and jmarigliano@renaudconsulting.net; Web site: www.healthwaynaturalfoods.com. Superior Grocers operates 36 locations throughout southern CA. The supermarkets, featuring produce, meat and seafood departments, occupy spaces of 40,000 sq.ft. to 50,000 sq.ft. in freestanding locations and neighborhood shopping centers. Growth opportunities are sought throughout central and southern CA during the coming 18 months. The company will not consider sites north of Bakersfield, CA. A land area of four to five acres is required for freestanding locations. For more information, contact Randy Ibara, Superior Grocers, 1168 San Gabriel Boulevard, Suite M, Rosemead, CA 91770; 323-721-7312, Fax 626-572-8411; Email: randyibara@sbcglobal.net. (continued on page eight)
This issue contains information on:
* Retailers operating 42,887 locations with plans to open 2,620 sites * Real estate valued in excess of $193.9 million to be bought, sold & financed * Leasing activity on over 6.2 million sq.ft. of retail properties
Important News Please Expedite
Postmaster: Periodical
Featuring ICSC Carolinas Idea Exchange New Construction Street Real Estate Co., LLC is redeveloping a 206,000 sq.ft. center in Raleigh, NC............ Pg. 3 Observations & Conversations Pg. 4 Openings H&M to open 250 stores during this fiscal year............. Pg. 5 Profile Rosamund Property Consultants Pg. 6 Exclusives Divaris Real Estate, Inc. named leasing agent for properties throughout VA....................... Pg. 7 Sources of Financing Meridian Capital Group, LLC arranged $22.3 million in financing for a building in New York, NY....................... Pg. 8 Buyers and Sellers One Liberty Properties, Inc. looks to acquire properties nationwide............................ Pg. 9 Food Retailers Expand Fuzziwig’s Candy Factory, Inc. seeking locations nationwide Pg. 10 Lease Signings R.J. Brunelli & Co. negotiated a lease with Whole Foods Market in Marlboro Township, NJ......................... Pg. 12 Lead Sheet Speedee Worldwide Corp. expanding throughout CA, LA and NC.................................. Pg. 13 Phantom Fire Works to open stores in FL, IN, NH, PA, SC, TN or WI............................... Pg. 16 In the News RCG Ventures hired Kevin Donegan as a senior leasing representative........................ Pg. 18 Space Place........................... Pg. 18
For more news go to: www.dealmakers.net Mobile Access Code: carolinas2011
Looking for Acquisitions • Leasing Great Sites
LEASING
Rivercrest Realty has space available in anchored shopping centers along the East Coast. For leasing, contact: Debbie Lewis FL, GA, SC, TN (919) 518-2000 dlewis@rivercrestrealty.com Nicholas Schuman-Werb DE, MD, NC, VA, WV (919) 518-2000 nschuman@rivercrestrealty.com Helen Vitaliano New York Locations (718) 980-7684 helenvitaliano@si.rr.com
Visit us at the ICSC Carolinas Idea Exchange Booth #806
ACQUISITIONS
Rivercrest Realty is actively pursuing acquisitions of retail centers located East of the Mississippi. Acquisition Requirements: • Grocery / Shadow-Anchored • $5 Million Minimum Deal Forward proposals to: Stan Werb (919) 846-4046 swerb@rivercrestrealty.com
www.rivercrestrealty.com 8816 Six Forks Road, Suite 201 Raleigh, NC 27615 Phone: (919) 518-2000 Fax: (919) 424-0001
STATE
CENTEr
AVAILAbLE SF
NEW YOrk Staten Island Staten Island
Coral Island Shopping Center Tottenville Square
DELAWArE Seaford
Sussex Plaza
FLOrIDA Wilton Manors
Shoppes of Wilton Manors
2,515 – 32,524 SF
GEOrGIA Atlanta Augusta Macon McDonough
Lenox Village Southpointe Plaza Walnut Creek Plaza McDonough Marketplace
1,073 – 3,483 SF Fully Leased 1,997 & 3,497 SF 1,396 SF
MArYLAND Landover Pocomoke City Fruitland
Landover Crossing East Town Plaza Southtowne Commons
1,999 – 97,421 SF 1,485 SF Fully Leased
NOrTH CArOLINA Advance Chapel Hill Charlotte Charlotte Durham Durham Forest City Hendersonville Raleigh Shelby Siler City Smithfield Southport Taylorsville Winston-Salem Winston-Salem
Kinderton Place Timberlyne Archdale Marketplace Royal Plaza Parkway Plaza The Village Hillside Plaza Highlands Square Millbrook Collection Creekside Plaza Chatham Crossing Smithfield Plaza Tidewater Plaza Taylorsville Hanes Commons Oak Summit
1,773 & 1,994 SF 1,201 – 2,010 SF 1,200 – 3,971 SF 1,259 – 7,553 SF 906 & 3,041 SF 2,531 – 11,488 SF 3,016 SF 2,508 – 8,016 SF 1,069 – 2,789 SF 1,407 SF 1,998 & 4,007 SF 1,514 & 3,023 SF 3,207 SF 1,168 – 8,537 SF 1,117 & 18,294 SF 5,028 – 34,912 SF
SOUTH CArOLINA Boiling Springs Columbia Florence Gaffney Georgetown Greenville Greenville Greenville Greenwood Greer Lake Wylie Lexington Lexington Myrtle Beach Myrtle Beach Surfside Beach
Boiling Springs Center Northpointe Commons Southside Commons Piedmont Plaza Plantation Plaza Haywood Plaza Shoppes at Woodruff White Horse Commons Westwood Plaza Hillview Plaza Landing Station East Towne Centre Village Square Northwood Plaza Plantation Point Surfside Commons
2,006 & 3,009 SF Fully Leased 1,746 SF 2,003 & 3,213 SF 1,997 SF 1,020 – 10,453 SF 1,482 – 4,030 SF 4,007 SF 1,512 – 12,579 SF 1,205 & 3,007 SF 1,500 – 5,974 SF Fully Leased 792 – 2,808 SF 1,122 – 32,259 SF 1,552 – 4,128 SF 4,023 SF
TENNESSEE Cookeville
Cumberland Station
VIrGINIA Bluefield Covington Harrisonburg Martinsville Radford South Boston Wytheville
Ridgeview Plaza Riverbend Garbers Crossing Mountainview Plaza Peppers Ferry Centre South Boston Wytheville Commons
WEST VIrGINIA Princeton
East River Plaza
945 – 5,007 SF 1,164 – 8,002 SF 2,992 SF
Fully Leased 2,081 & 30,012 SF Fully Leased Fully Leased 3,010 SF 2,776 SF 1,202 – 5,013 SF 2,396 & 11,756 SF 24,560 SF
New Construction Cathartes Private Investments is developing the second phase of The Residences at Portwalk, a five-story, 50,000 sq.ft. mixed-use building featuring a 36-unit multifamily component and a 9,400 sq.ft. retail component located along Hanover Street in Portsmouth, NH. The second phase is slated for completion late this year. For more information, contact Cathartes Private Investments, 31 Milk Street, Suite 501, Boston, MA 02109; 617-742-6000; Email: info@cathartesprivate.com; Web site: www.cathartesprivate.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............................................... Adam Taliercio adamt@dealmakers.net Customer Service....................... Bridget Thoresen custserv@dealmakers.net Founder..................................................... Ted Kraus 1979–2007
The Dealmakers (ISSN 1055-0771) is published weekly except for the weeks of January 1st, July 4th, the ICSC's Spring and Fall Conventions and December 25th for $294 per year U.S., foreign $319 by TKO Real Estate Advisory Group Inc. PO Box 2630 Mercerville, NJ 08690-0630. TM
The Dealmakers TM reports on over 20,000 retailers, developers and management companies every year. It is written by real estate professionals for real estate professionals. The newsletter keeps readers abreast of the latest leasing, development and management changes occurring in the real estate industry on a weekly basis. NOTE: Current federal law requires written consent from a company prior to utilizing the published fax number. Share The Dealmakers TM with your organization or service for free. Just let us know when your next meeting is and we'll send you copies of our issue for free for your members to learn how to be a better dealmaker! POSTMASTER: Send address changes to The Dealmakers, PO Box 2630 Mercerville, NJ 086900630. Periodical postage paid at Trenton, NJ and at additional mailing offices. Affiliated with Tenant Search, E.S.P., E-Blast Copyright 2011 by TKO Real Estate Advisory Group Inc. 609-587-6200, fax 609-587-3511.
Stoltz is preleasing Corporate Woods – West & East, an 864,000 sq.ft. mixed-use center located at the confluence of Interstate 435, U.S. Highway 69, College Boulevard and Antioch Road in Overland Park, KS. The project features a 109,400 sq.ft. retail component, a 642,000 sq.ft. office component and a 150-unit hospitality component. Area demographics include a population of 239,717 within five miles earning $87,595 as the average household income. The average daily traffic count is 287,200 vehicles. The company is also redeveloping Shoppes at Wayne, a 15,340 sq.ft. center located along Aberdeen Avenue in Wayne, PA. Area retail includes Acme. Area demographics include a population of 132,465 within five miles earning $114,771 as the average household income. The average daily traffic count is 50,000 vehicles. For more information regarding the Overland Park property, contact Joseph S. Soussana, Stoltz, 725 Conshohocken State Road, Bala Cynwyd, PA 19004; 610667-5800 Ext. 202, Fax 610-617-6256; Email: jsoussana@stoltzusa.com; Web site: www.stoltzusa.com. For more information regarding the Wayne property, contact Gloria Mercado; 888-777-3557 Ext. 155; Email: gmercado@stoltzusa.com. SRS Real Estate Partners is redeveloping a building located along Main Street in Westport, CT. Cotenants include Gap and Brooks Brothers. A 5,588 sq.ft. space is available. Area retail includes WilliamsSonoma, Chico’s, Banana Republic, Ann Taylor, Patagonia and L’Occitane. Area demographics include a population of 373,460 within 10 miles earning $82,008 as the median household income. For more information, contact Christa Minogue, Erin Grace or Patrick A. Smith, SRS Real Estate Partners, 366 Madison Avenue, 5th Floor, New York, NY 10017; 212-710-5247/5257/5240; Emails: christa.minogue@srsre.com, erin.grace@srsre.com and patrick.smith@srsre.com; Web site: www.srsre.com. Architecture Works, LLP is redeveloping a property located at the intersection of Cox Creek Parkway and Hough Road in Florence, AL into a five-tenant retail center. Tenants include Books-A-Million and Hibbett Sports. For more information, contact Architecture Works, LLP, 130 19th Street South, Birmingham, AL 35233; 205-320-0880, Fax 205-320-0881; Email: info@architectureworks.com; Web site: www.architectureworks.com. www.dealmakers.net
The
Weingarten Realty is preleasing Stony Point Plaza, an 88,000 sq.ft. center located in Santa Rosa, CA. Spaces from 1,050 sq.ft. to 12,000 sq.ft. are available. Cotenants include Anna’s Linens, Ross Dress for Less, Fallas Paredes, Goodwill Industries and FoodMax. The project is slated to open during the fall. The company is also preleasing a center located along Market Place in Castro Valley, CA. Spaces from 1,392 sq.ft. to 1,400 sq.ft. are available. Safeway anchors the center and cotenants include 24 Hour Fitness and Petco. The project is slated to open during the spring. For more information, contact Weingarten Realty, 2600 Citadel Plaza Drive, Suite 125, Houston, TX 77008; 713-866-6000, Fax 713866-6049; Web site: www.weingarten.com. Rosamund Property Consultants, with Street Real Estate Co., LLC, is redeveloping Wilder’s Grove Plaza, a 206,000 sq.ft. strip center located along U.S. Highway 64/New Bern Avenue in Raleigh, NC. A divisible anchor space of 100,000 sq.ft. is available along with shop spaces from 1,200 sq.ft. to 8,000 sq.ft. and outlots. Kroger anchors the center and cotenants include Dollar Tree, Cato Fashions and Jersey Mike’s Subs. Area retail includes Walmart Supercenter, CVS, Office Depot and Walgreens. For more information, contact Bruce G. Lynch, Rosamund Property Consultants, PO Box 1989, 2 North Main Street, Wendell, NC 27591; 919-365-4977, Fax 919-573-9635; Email: blynch@rosamund.net. Or David R. Bordsen, Street Real Estate Co., LLC, 66 Golden Heather, Chapel Hill, NC 27517; 919-533-6548. Miller & Smith, with SEKISUI HOUSE, Ltd., is developing One Loudoun, a masterplanned community situated on 358 acres in Loudoun County, VA. The project will feature a 1,040-unit residential component, a 702,000 sq.ft. retail component, a threemillion sq.ft. office component and 150 acres of public land. For more information, contact Julie Dillon, Miller & Smith, 8401 Greensboro Drive, Suite 450, McLean, VA 22102; 703-8212500; Email: jdillon@millerandsmith.com; Web site: www.millerandsmith.com. CB Richard Ellis is developing Point Fosdick Square, a 190,650 sq.ft. center situated on 5.79 acres in Gig Harbor, WA. The project is slated to open next year. For more information, contact Constance Wilde or Anne Marie Koehler, CB Richard Ellis; 206-292-1600/6144; Emails: constance.wilde@cbre.com and annamarie.koehler@cbre.com. DM
Dealmakers
March 25, 2011
page 3
Observations & Conversations On all fronts, the Carolinas seem to be holding tight, and prospects for filling existing space and new developments look good in the next few years. This issue is being distributed at the ICSC’s Carolinas Dealmaking. I’ve leased a few projects in that neck of the woods. One of my first deals was in Hickory, and I’ve done a few in Charlotte too, as well as some consulting work in Wilmington when Andy Griffith was taping his show there. Plus I’ve gotten a few sunburns in Hilton Head. So, even as an outsider, I do know the lay of the land a bit. The “citified” markets of the Carolinas have always been pretty healthy, retail-wise. Leasing the coastal and waterfront areas is pretty much the same as any other: You’ve got your townies and tourists to cater to, but rural areas in the Carolinas – wow, that can be a tough leasing assignment. Speaking of waterfront: I moved into a house on a river not long ago, and just recently experienced my first flood. Advanced degrees in structural engineering and hydrodynamics, the highest seawall in town and the local Fire Marshall’s number on speed dial are what it took to get power restored, so I can imagine that a waterfront retail/commercial development must be a monumental headache. I now have a greater appreciation for developers who tackle building anything abutting water. One developer out of South Carolina appears to thrive on it – The Shuler Group is an experienced developer of specialty waterfront residential and mixed-use projects. Man, hats off to them for getting approvals for their projects, but they really do have engineering degrees and expertise in “water solutions.” The company primarily does residential projects, but they plan to develop some restaurant and commercial space in Santee, just outside of Columbia, and they’re trying new things with the reinvention of a 20,000 sq.ft. former furniture store into the Five Rivers Market, a non-traditional mix of booths, gallery space, display cases and consignment areas for about 50 vendors selling artisan-quality merchandise. Obviously, they enjoy a challenge! Another developer taking on a challenge on a much bigger scale is Kite Realty. They are hashing out details to relocate railroad crossings to make room for the development of retail, restaurant, office, hospitality and residential units totaling almost one million sq.ft. in Cary, North Carolina. Regional chains are dipping more toes into the Carolinas, as well. Ollie’s Bargain Outlet, a chain based in Pennsylvania, recently signed a deal with Equity One to co-tenant with Dollar Tree at a shopping center in Durham. I’m also hearing that most tenants coming up for renewals in the Carolinas are exercising their options, which is another good sign. There have also been a number of large portfolio acquisitions in the past few months that included centers in the Carolinas, and I’m hearing of manufacturing and service companies looking to open facilities in the region, which will help drive down unemployment. On all fronts, the Carolinas seem to be holding tight, and prospects for filling existing space and new developments look good in the next few years.
time, and I can always count on him to give me an accurate read on what’s going on in his market. We’ve also got some good leads on retailers looking for sites in the Carolinas, so take some time reading this issue. Not only will you get good insight from Bruce, but you might find a deal or two. We’re in high gear and prepping for the Vegas convention. If you have any new construction projects, we would love to get you some press in the issue that will be distributed at the Vegas show. Just drop me an email at ann@dealmakers.net and I’ll make sure our editors follow up. Also, if you are doing any tenant rep work, we want to hear about their site selection needs, and if you have buyers or centers for sale, just drop me an email and I will make sure it gets into the hands of the right editor. I’m getting excited about this year’s Vegas convention; I think it’s going to be a great show. The party invites have started rolling in, which means that not everybody is still broke and there’re a few companies willing to feed and ply the masses with drink. In the past week, I’ve also set up a few appointments for Vegas, and they’re not just to fill someone’s appointment book for their bosses’ sake; we have real deals on the table. If I have any luck at all, some of them will be finalized by then and we can spend the time shooting the bull instead of me spending most of the meeting saying “No.” The vast part of my brokerage work is on the tenant rep side, so I find myself not very compromising these days, especially when it comes to how much of the tenant build-out my client is going to cover. I have one site that had five construction bids; does that give you a clue as to how tight this deal is? (And it’s for a retrofit.) Another deal that I recently did was for a two-level new construction in an urban mall. Oh my God, I think the only way we got this deal done was by sheer luck – and maybe some divine intervention. The developer paid me on time, and I appreciate that, but he still owes me and the co-broker bottles of champagne in Vegas. (Just reminding you! We earned it.) Although, after he gets finished paying to build the store, I might have to put the champagne on my tab. I have to wrap it up, but first, some reminders: Visit our booth at the Carolinas Dealmaking, send us info on projects and deals that you want publicized to me at ann@dealmakers.net, and join our email forums at http://www.dealmakers.net/mail/index.html for FREE updates on buyers, sellers, leasing and financing prospects. Plus, I’m getting more familiar with our newer modes of social media and you can find us on Twitter at www.twitter.com/dealmakersmag or Facebook at www.facebook.com/thedealmakers. This summer, I am committed to building our new communication vehicles, so if you think I put out an annoying amount of email now, just wait: If you’re connected to us by Twitter and Facebook, you’re going to have not only the full scoop of what’s going on in our industry, but the fullyloaded sundae with a cherry on top. Thanks for reading, and here’s to making more deals!
This issue also has a profile on one of the best brokers in the Carolinas market, Bruce Lynch of Rosamund Property Consultants. I can’t remember how long we’ve known each other, but it’s been a long page 4
March 25, 2011
The
Dealmakers
www.dealmakers.net
Ann O’Neal, Publisher
Who’s Opening and Where Publix Super Markets, Inc. (863-688-1188) will open a 45,600 sq.ft. Publix at The Villages of Amelia, a shopping center currently under development on 70 acres at the intersection of State Road A1A and Chester Road in Yulee, FL. The store will anchor the center’s first phase and is slated to open within the coming 18 months. The company also plans to open a 45,000 sq.ft. store along Sunset Avenue in Palm Beach, FL. The opening will replace an existing, smaller location on Sunset Avenue and will offer a larger selection of natural foods and feature wider aisles and a separate checkout area for pharmacy customers. Construction on the new store will begin following the closing and demolition of the existing store, which is slated for late next month. The company currently operates 1,034 locations throughout AL, FL, GA, SC and TN. Chick-fil-A, Inc. (404-765-8000) plans to open a 4,600 sq.ft. freestanding Chick-fil-A restaurant on two acres near Interstate 81 in Bristol, VA. The location is one of three Chick-fil-A restaurants planned for the area this year and is slated to open during late summer or early fall. The company plans to open 75 units nationwide this year, including a 4,600 sq.ft. location in Elizabethton, TN slated for next month and a location in Johnson City, TN slated for late summer or early fall. The company operates 1,500 restaurants nationwide throughout 39 states and Washington, DC, including four in the area. Tasti D-Lite, LLC (615-550-3012), through a franchisee, will open more than 15 Tasti D-Lite locations throughout Clark County, NV during the next several years. The franchisee opened a self-serve store along Las Vegas Boulevard during November, as well as a location at Town Square in Las Vegas this month. The company currently operates 50 locations nationwide and plans to open more than 350 locations during the next several years. Tesco plc (310-384-3833) plans to open a Fresh & Easy Neighborhood Market at West Angeles Plaza, a 45,000 sq.ft. mixeduse center currently under construction at the intersection of Crenshaw Boulevard and Jefferson Boulevard in South Los Angeles, CA. The opening will be the company’s second in the area. Dollar General Corp. (615-855-4000) will open a Dollar General store on 1.38 acres along Colorado Avenue in Lorain, OH. The company currently operates 9,000 stores nationwide throughout 35 states.
Wal-Mart Stores, Inc. (479-273-4000) plans to open a 149,000 sq.ft. Walmart Supercenter on 17 acres along Cerrillos Road in Santa Fe, NM. The store is slated to open late this year or early next year and will feature a full-service supermarket. The company also plans to build a 120,000 sq.ft. Walmart Supercenter at a 195,000 sq.ft. center currently under development along Route 40 in West Brownsville, PA. Construction on the store is slated to begin during the spring, with an opening projected for early 2013. Zoup! (800-940-9687), through a franchisee, will open a 2,000 sq.ft. restaurant at The Promenade at Crocker Park, located in Cleveland, OH. The location will feature 12 hand-crafted soups daily, as well as salads, sandwiches, desserts and beverages. The restaurant is slated to open during the spring and will be the franchisee’s fourth in Cleveland. The company will join N.J. Thomas Jewelers and Scottrade at the center. Golf Town, Inc. (905-479-0343) will open a Golf Town store in Northborough, MA. The company recently opened its first stores in the U.S. within the state, including sites in Avon, Bellingham, Reading, Seekonk and Watertown. The Northborough store is slated to open during the fall. The company currently operates 55 locations throughout Canada in addition to the existing MA stores. TJX Cos., Inc. (508-390-3000) will open a 24,000 sq.ft. HomeGoods store in a former A.J. Wright at Mount Vernon Crossroads, located along Route 1 in Alexandria, VA. The store will be the company’s 12th in the Washington, DC area and is slated to open during the spring. The company trades as T.J. Maxx, Marshalls, HomeGoods and A.J. Wright, and currently operates 2,700 locations nationwide, including more than 300 HomeGoods locations. hhgregg, Inc. (317-848-8710) plans to open between 35 and 45 hhgregg locations this year, including its first locations in Chicago, IL and Pittsburgh, PA, as well as nine stores throughout the Miami, FL area. The company currently operates 173 locations nationwide throughout 15 states, including 22 throughout FL. Lowe’s Cos., Inc. (704-758-1000) will open a 42,000 sq.ft. Lowe’s Home Improvement store on a 55,000 sq.ft. site currently under construction in Brunswick Forest, NC. CVS also plans to open a pharmacy at the site. Both stores are slated to open during the summer of next year. www.dealmakers.net
The
Goodwill Industries of Denver (303-6507700) will open a 13,000 sq.ft. Goodwill Industries store in a former Rite Aid at the intersection of Main Street and Platte Avenue in Ft. Morgan, CO. The store will feature a retail space as well as a drive-up donation center. The opening will be the company’s 22nd store and its first in Morgan County, CO, and is slated to open during the spring. Color Me Mine Enterprises, Inc. (818-2915900) will open a 1,312 sq.ft. Color Me Mine store at Keizer Station, located along Keizer Station Boulevard Northeast in Salem, OR. The opening will be the company’s first in the state and is slated for the summer. The company currently operates locations, offering do-it-yourself ceramics, nationwide throughout 25 states and internationally. Five Guys Enterprises, LLC (703-339-9500) will open two Five Guys Famous Burgers and Fries restaurants in Columbia, MO: one in a former Hollywood Video at Broadway Shops, and one at Stadium Shoppes, where the company will join PetSmart. The restaurants are slated to open during mid-May and next month, respectively. The company currently operates 620 locations nationwide throughout 48 states. Hennes & Mauritz AB (212-564-9922) plans to open as many as 250 H&M stores this fiscal year. The company currently operates 2,200 locations, offering apparel for men, women and children, nationwide and internationally. Big Y Foods, Inc. (413-784-0600) plans to open a 55,000 sq.ft. Big Y Supermarket in a former ShopRite at Townline Square, located at the intersection of North Colony Road and South Broad Street in Meriden, CT. The store is slated to open during late spring. The company operates locations throughout CT and MA. Dick’s Sporting Goods, Inc. (724-273-3400) plans to open a 35,000 sq.ft. Dick’s Sporting Goods store in a former Linens ‘N Things at Waters Place, located along Lohr Road in Pittsfield Township, MI. The store is slated to open during the spring. The company currently operates 440 locations nationwide. Toys “R” Us, Inc. (973-617-3500) plans to open a 15,000 sq.ft. Toys “R” Us/Babies “R” Us hybrid store at a shopping center currently under development at the intersection of Randall Road and McDonald/ Stearns Road in South Elgin, IL. The store is slated to open later this year. DM
Dealmakers
March 25, 2011
page 5
rosamund property consultants Focused on the Carolinas
Profile — A monthly column featuring retailers and retail real estate companies
Adam Taliercio Rosamund Property Consultants is a real estate consulting firm offering leasing, consulting and brokerage services throughout NC, SC and VA. Founder and president Bruce Lynch brings nearly three decades of industry experience to bear servicing clients in the region.
few spaces left to finish that center up.” The company is also handling leasing for Wilder’s Grove Plaza, located along New Bern Avenue in East Raleigh. The center was formerly anchored by Kmart, and Lynch said he expects to release the vacant anchor space, though it will likely be subdivided.
Although the company is licensed to operate all throughout these three states, Lynch maintains a focus on the area within an approximately two-hour traveltime radius of Raleigh, NC area, covering roughly two-thirds of the state as well as select markets in SC and VA – though in unique situations, he added, he will also consider projects outside of that radius. As a boutique operation, he explained, limiting Rosamund’s area of coverage allows him to maintain low travel costs when working with a client, and also ensures that client receives the attention their needs demand.
“That’s a good example of what I like to work on,” he said of Wilder’s Grove Plaza. “I talk to owners with a leasing problem: They’ve lost an anchor or lost shop space and need somebody to focus on their leasing, and I leave no stone unturned. I’ve always been intrigued with dealmaking; I like to help small tenants with a dream, whether a retailer or restaurateur, you help get them into a space where they can [achieve] that dream. Some people tend to lose energy when they have to deal with people all day, but I tend to get energy through interacting with people.” He added that this was likely why he gravitated toward leasing after first entering the industry by handling real estate investments for an insurance company: “You deal with some interesting folks in retail,” he said.
“When I take an account, you get me; I’m the one working on it,” he said. “I might have some strategic partners to help me, depending on the account, but you get Bruce Lynch: 28 years of real estate experience, 25 of retail leasing and 20 years of management experience. I don’t take an account unless I have the ability, the manpower and the resources to do it. From a property management perspective, if you can’t be at the property very often then you’re not doing your job for that customer. I think about it from the standpoint of giving the customer the best service possible: If it’s something I don’t have knowledge of, I usually have resources or people who do, and I will point the client to someone who’ll be able to meet their needs.” Lynch originally ran a larger organization but downsized his operation eight years ago in order to focus more on the aspects of the business that he enjoyed most: leasing and dealmaking. “We had gotten big enough where we made money in those [other] divisions, but small enough that the clients still wanted Bruce Lynch,” he said. “I could never focus on what I wanted to; the people issues just sucked me in and I couldn’t do dealmaking or work with the clients as much, so I made a conscious decision to downsize.” His experience operating a larger company and servicing clients under an exclusively commission-based business model inspired Lynch to offer an alternative method at Rosamund Property Consultants, wherein he operates on retainer and functions as a consultant, with a portion of the retainer netted against commission. “One of the issues you have with the way most real estate is structured today is that a commission-only broker has to handle a bunch of accounts in order to make a living. If you’ve got one center that really needs attention, that broker is not going to be able to focus appropriately with 10 or 12 other accounts, which my experience has shown you need to make a living as an independent contractor at a bigger company,” he said. “It’s hard for the big firms to focus on an account while worrying about earning a living. When you get to the last 10 to 15% of leasing on a property – which is where the owner makes his money – but you’ve already earned the lion’s share of commission on that account, it’s human nature to move on to the next account, to go on to the next project where there’s more commission dollars to earn.” Lynch added that he does still work under the commissiononly structure if that’s what a client prefers – and that people are less likely to deviate from the norm in tough economic times – but discusses these different models with each of his clients to determine what will work best for them. Recent deals the company has completed include the representation of Relish, a restaurant concept, in leasing a space in North Raleigh, NC, wherein Lynch worked with the client for about a year in order to find the perfect space for the concept. The company also recently leased a former Winn-Dixie at Knightdale Crossing, located in Knightdale, NC, to Big Lots on behalf of the landlord. “We had the space leased to a health club that went bankrupt during the downturn, so we had to turn around and lease it again,” Lynch said, adding that it took about 10 months to close the deal. “We were fortunate enough to get Big Lots, which will hopefully re-energize the center, and there are only a page 6
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The Carolinas were hurt by the recession just as the rest of the country, Lynch said, although perhaps not as severely as in other areas. “I have to be more efficient, just like everybody,” Lynch said. “I have to do more with less, but the owners and the tenants all have the same issue; everybody needs to find ways to be better.” Unlike other economic downturns that Lynch has weathered over his career, however, this recession was driven by a lack of demand rather than overbuilding or supply outpacing demand. “I’ve never seen demand collapse the way it did, in all my experience,” he said. “It was just literally that people couldn’t get money, and small businesses couldn’t hang on. If all of a sudden your sales are 40% below what they were, there aren’t many businesses that can survive that; I don’t care how good a businessman you are.” As is the case throughout much of the country, dollar stores and other valueconscious retailers are weathering the recession better than most in the Carolinas. “Today people are really looking to get the most value for their dollar,” Lynch said. “Not to say that people don’t want that in general, but today, they have to. Upscale retailers have been hit harder; the small guys couldn’t survive the downturn, and even though things are better now than they have been, they’re still not great. Banks still aren’t lending, but the bigger guys like Big Lots, Target or Walmart can position themselves to survive the worst, pare the dead branches and have the wherewithal to do what they need to.” Even Walmart, however, has begun to feel the effects of value retailers expanding their merchandise to include grocery items, he added. While financing may remain difficult to obtain for the smaller, mom-and-pop operations, strong retailers still have the advantage in this retail climate, Lynch said, with the possible exception of top-of-the-class retail properties, where vacancies are beginning to dry up. However, in certain parts of the Carolinas, such as the outlying areas of Raleigh, leasing has proven more difficult both in existing centers and new developments because of the loss of a number of planned residential projects. Lynch expects that 2012 will prove better for the region than the year before, and predicted that there may be more tangible signs of improvement by the middle of the year, including a small amount of development, which has dried up over the last few years. He also hopes to see lending return to normal within the next several years. “I think we’re fortunate in the Triangle, in that we’re like a mini-DC. I think we’re going to come back a little quicker in the Triangle and the urban areas of NC. I’m optimistic that this year, especially toward the end, will be better. The last couple of years haven’t been much fun, and it’s going to be a long, slow slog, but gradually we’re coming back.” For more information, contact Bruce Lynch, Rosamund Property Consultants, PO Box 1989, 2 North Main Street, Wendell, NC 27591; 919-365-4977, Fax 919573-9635; Email: blynch@rosamund.net; Web site: www.rosamund.net.
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Exclusives and Leasing Assignments SRS Real Estate Partners (512-236-4600) represents the following retailers with their expansion plans: Boneheads, throughout Austin, TX, seeking spaces of 2,000 sq.ft. to 2,500 sq.ft.; Chedd’s Gourmet Grilled Cheese, throughout Austin and San Antonio, TX, seeking sites of 1,000 sq.ft. to 1,500 sq.ft.; Citibank, throughout Austin, TX, seeking pad sites, outlots and endcaps of shopping centers with a drive-thru; Cracker Barrel, throughout Austin and San Antonio, TX, seeking two-acre parcels; Dancers Shape, throughout Austin, TX, utilizing spaces of 1,200 sq.ft.; Dos Batos Woodfired Tacos, throughout Austin, TX, seeking spaces of 2,000 sq.ft. to 2,500 sq.ft.; Elements Therapeutic Massage, throughout Austin and San Antonio, TX, utilizing sites of 1,300 sq.ft. to 1,800 sq.ft.; Family Christian Stores, throughout central TX, seeking spaces of 5,000 sq.ft. to 7,000 sq.ft.; FedEx Office, throughout central TX, seeking sites of 2,000 sq.ft. to 4,500 sq.ft.; Five Guys Famous Burgers and Fries, throughout LA and central and eastern TX, seeking sites of 2,500 sq.ft.; Carter’s, throughout Austin and San Antonio, TX, utilizing spaces of 4,000 sq.ft. to 5,000 sq.ft.; Copeland’s of New Orleans, throughout Austin and San Antonio, TX, seeking spaces of 8,000 sq.ft.; Cost Plus World Market, throughout Austin and San Antonio, TX, seeking sites of 17,000 sq.ft. to 20,000 sq.ft.; Doctors Express, throughout central TX, seeking spaces of 2,000 sq.ft.; Fantastic Sams, throughout Austin, TX, seeking sites of 1,200 sq.ft.; Firehouse Subs, throughout Austin, TX, utilizing spaces of 1,600 sq.ft. to 2,200 sq.ft., and Flores Mexican Restaurant, throughout central TX, seeking sites of 4,000 sq.ft. Divaris Real Estate, Inc. (757-497-2113) has been named the leasing agent for the following properties throughout VA: Spring Knoll Plaza, a 55,098 sq.ft. center located at the intersection of U.S. Route 17 and Plantation Road in Fredericksburg; Willow Oaks Shopping Center, a 197,169 sq.ft. center located at the intersection of Fox Hill Road and Willow Oaks Boulevard in Hampton, featuring Farm Fresh, Rite Aid, Peebles and Hallmark; Midway Shopping Center, a 58,780 sq.ft. mixeduse center located along West Mercury Boulevard in Hampton, featuring Best Way Rent-to-Own; Francisco Village Shopping Center, a 55,865 sq.ft. center located along Jefferson Avenue in Newport News, featuring Bottom Dollar, Chanello’s Pizza and Ace Cash Express; Mill Dam Crossing, a two-story, mixed-use development
located along North Great Neck Road in Virginia Beach, featuring Havana Café, Coastal Grill and Papa John’s, and Kemps Corner Shops, located at the intersection of Kempsville Road and Kemps River Drive in Virginia Beach, featuring Anytime Fitness, NMA Federal Credit Union, Jackson Hewitt and Huntington Learning Center. Renaud Consulting (571-765-4430/4423) represents the following retailers with their expansion plans: Verve Health and Fitness, throughout Bethesda, MD; Reston and Tyson’s Corner, VA and northwestern Washington, DC, seeking spaces of
8,000 sq.ft. to 14,000 sq.ft.; Visionworks, throughout the Baltimore, MD metropolitan area, seeking sites of 3,000 sq.ft. to 4,000 sq.ft., and Which Wich, throughout the Washington, DC metropolitan area, utilizing spaces of 1,200 sq.ft. to 1,600 sq.ft. J.W. Burke & Co. (646-924-0011) represents Screamin Parties with the chain’s expansion throughout Bergen, Passaic and Hudson counties in NJ and Westchester Counties in NY. The chain is seeking spaces of 10,000 sq.ft. in regional shopping centers and D M freestanding locations.
GR
ROCK SOLID &
GROWING STRONG ✓ ✓ ✓ ✓
GROWING STRONG… Over 4,650 stores, and we open more every week STORES THAT ARE 100% COMPANY OWNED AND OPERATED… No franchises FINANCIALLY DISCIPLINED… We make the right decisions to protect our shareholders RELIABLE… Whether purchase money or rent, our funds will be there…on time, every time AutoZone, a publicly-traded Fortune 500 company, is the #1 auto parts retailer in America. We have over 4,400 stores in 48 U.S. states plus the District of Columbia & Puerto Rico and over 240 stores in Mexico.
www.autozonerealestate.com SITE CRITERIA • • • •
Stores typically range from 6,500 square feet to 8,000 square feet Must accommodate between 25 and 40 uncongested, customer-friendly parking spaces We require up-front, high-impact locations with excellent visibility & access from adjacent streets Land purchases (preferred), existing building leases, and ground leases are all considered
STORE DEVELOPMENT DEPT. • P.O. BOX 2198 • MEMPHIS, TN 38101 • FAX: 901.495.8969 ©2011 AutoZone, Inc. All Rights Reserved. AutoZone and design are registered marks of AutoZone Parts, Inc.
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Supermarket Chains Expand Nationwide (continued from page one)
Winco Food, LLC trades as Winco Foods at 76 locations throughout CA, ID, NV, OR, UT and WA. The supermarkets, featuring bakery, meat, produce and seafood departments, as well as offering bulk food items, occupy spaces of 90,000 sq.ft. to 100,000 sq.ft. in freestanding locations and power and value centers. Growth opportunities are sought throughout the existing markets during the coming 18 months. The company prefers to acquire sites. Preferred demographics include a population of 100,000 within five miles. A land area of nine acres is required for freestanding locations. For more information, contact Morgan Randis, Winco Foods, LLC, PO Box 5756, Boise, ID 83705; 208-672-2072, Fax 208377-0474; Email: morganr@wincofoods.com; Web site: www.wincofoods.com. Tietgens Enterprises trades as Tietgens Super Rama at six locations throughout central TN. The supermarkets occupy spaces of 14,000 sq.ft. in freestanding locations and strip centers. Growth opportunities are sought throughout the existing markets during the coming 18 months. Major competitors include Bi-Lo, Kroger and Walmart. The company prefers to acquire sites. For more information, contact Ed Tietgens, Tietgen Enterprises, 707 Brass Lantern Place, Brentwood, TN 37027; 615-373-0769, Fax 615-373-7325. Redner’s Markets, Inc. trades as Redner’s Markets at 52 locations throughout DE, MD and eastern PA. The supermarkets, featuring seafood, deli, produce and meat departments, as well as offering organic food items, occupy spaces of up to 50,000 sq.ft. in freestanding locations and strip centers. Growth opportunities are sought throughout the existing markets during the coming 18 months. For more information, contact Diane Herr, Redner’s Markets, Inc., 3 Quarry Road, Reading, PA 19605; 610-9263700, Fax 610-926-6327; Web site: www.rednersmarkets.com. AB Supermarket trades as Key Food Marketplace at two locations in NY. The supermarkets occupy spaces of 21,100 sq.ft. in strip centers. Growth opportunities are sought throughout Brooklyn, NY during the coming 18 months. For more information, contact Anthony Bileddo, AB Supermarket, 153rd and 7th Street, Garden City, NY 11530; 516742-2713, Fax 516-739-8343; Email: abileddo@keyfoodmarketplace.com. page 8
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Save Mart Supermarkets, A California Corp. trades as Save Mart and Food Maxx at 240 loctions throughout central and northern CA and northern NV. The supermarkets occupy spaces of 45,000 sq.ft. to 55,000 sq.ft. in strip and neighborhood shopping centers. Growth opportunities are sought throughout the central, central coastline and northern areas of CA during the coming 18 months. Typical leases run 20 years with options. Preferred demographics include a population of 20,000 within two miles earning up to $70,000 as the average household income. The company will also consider sites with lower income demographics for the Food Maxx concept. For more information, contact Jim Cipolla, Save Mart Supermarkets, A California Corp., 1800 Standiford Avenue, Modesto, CA 95350; 209-577-1600, Fax 209-530-1876. Alliance Foods, Inc. trades as Save-A-Lot at 10 locations throughout MI and OH. The supermarkets occupy spaces of 15,000 sq.ft. to 16,000 sq.ft. in freestanding locations and strip centers. Growth opportunities are sought throughout OH during the coming 18 months. For more information, contact Loren Doty, Alliance Foods, Inc., 605 West Chicago Street, Coldwater, MI 49036; 517-278-2396, Fax 517-278-7936; Email: ldoty@alliance-foods.com; Web site: www.alliance-foods.com. Kroger Co. (Cincinnati/Dayton Division) trades as Kroger at 110 locations throughout IN, KY and OH. The supermarkets, also featuring a pharmacy, occupy spaces of 60,000 sq.ft. in freestanding locations and strip centers. Growth opportunities are sought throughout the existing markets during the coming 18 months. For more information, contact Monte Chesko, Kroger Co. (Cincinnati/Dayton Division), 130 Tri County Parkway, Suite 24, Cincinnati, OH 45246-3217; 513782-3463, Fax 513-782-8426; Web site: www.kroger.com. Yoke’s Foods, Inc. trades as Yoke’s Fresh Market at 11 locations throughout ID and WA. The independent supermarkets occupy spaces of 50,000 sq.ft. to 56,000 sq.ft. in freestanding locations. Growth opportunities are sought throughout ID, MT and WA during the coming 18 months. For more information, contact Joe Hanson, Yoke’s Foods, Inc., PO Box 141268, Spokane, WA 99214; 509-921-2292, Fax 509-9216801; Web site: www.yokesfoods.com. DM
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Sources of Financing George Elkins Mortgage Banking Co., through correspondent lenders, provides financing for retail, office, multifamily and industrial properties nationwide. Loans are available in amounts from $1 million with fixed interest rates starting at 5% for terms of 10 years. For more information, contact Marc Scott, George Elkins Mortgage Banking Co., 12100 Wilshire Boulevard, Suite 520, Los Angeles, CA 90025; 310-979-5740, Fax 310-2078007; Email: mscott@gemb.com; Web site: www.gemb.com. Meridian Capital Group, LLC arranged $22.3 million in financing for a 65,000 sq.ft. mixeduse building located along Fifth Avenue in New York, NY. The financing was provided by UBS Securities, LLC and featured a 10year term and a fixed interest rate. The company arranges financing in amounts from $1 million to more than $500 million for retail, office, multifamily, hospitality, mixeduse and industrial properties. For more information, contact Jonathan Stern, Meridian Capital Group, LLC, 1 Battery Park Plaza, 26th Floor, New York, NY 10004; 212-972-3600, Fax 212-201-5181; Email: jstern@meridiancapital.com; Web site: www.meridiancapital.com. Fantini & Gorga arranged $5.6 million in financing for a 62,345 sq.ft. neighborhood shopping center located in the Mattapan area of Boston, MA. For more information, contact George Fantini Jr., Fantini & Gorga, 265 Franklin Street, Boston, MA 02110; 617-951-2600, Fax 617951-9944; Web site: www.fantinigorga.com. NorthMarq Capital provided $2.339 million in mortgage financing for Heatherwood Shopping Center, a 47,000 sq.ft. neighborhood shopping center located along Jericho Turnpike in Commack, NY. The loan featured a 10-year term and a 25-year amortization schedule. For more information, contact Charles P. Cotsalas or Ernest DesRochers, NorthMarq Capital, 3500 West American Boulevard, Suite 500, Bloomington, MN 55431; 952356-0100; Web site: www.northmarq.com. EagleBridge Capital arranged $2.48 million in acquisition financing for Dollar Tree Plaza, a 21,000 sq.ft. center located along Lafayette Road in North Hampton, NH. Tenants at the center include Dollar Tree, AutoZone and Optima Bank and Trust. For more information, contact Ted M. Sidel or Brian D. Sheehan, EagleBridge Capital, 33 Broad Street, Suite 900, Boston, MA 02109; 617-292-7177, Fax 617-292-7575; Web site: www.eaglebridgecapital.com. DM
Buyers and Sellers Calkain Cos., Inc. is selling a 10,125 sq.ft. CVS located in Columbus, NC. The tenant is bound to a lease set to expire during January 2028. The asking price is $2.206 million with a Cap rate of 8.93%. The company is also selling CVS locations of 10,125 sq.ft. and 10,866 sq.ft. in Nashville, TN. The 10,125 sq.ft. CVS is bound to a lease set to expire during January 2028 with an asking price of $3.97 million and a Cap rate of 8.94%. The 10,866 sq.ft. store is bound to a lease set to expire during April 2016 with an asking price of $1.6 million and a Cap rate of 10.92%. The company is also selling the ground lease to a Checkers situated on a land area of 74,524 sq.ft. in Front Royal, VA. The tenant is bound to a NNN lease set to expire during January 2018. The asking price is $1.31 million with a Cap rate of 7.25%. The company is also selling the ground lease to a Starbucks situated on a land area of 33,801 sq.ft. in Front Royal, VA. The tenant is bound to a NNN lease set to expire during June 2018. The asking price is $1.03 million with a Cap rate of 7.25%. For more information, contact Calkain Cos., 11150 Sunset Hills Road, Suite 300, Reston, VA 20190; 703-787-4714, Fax 703787-4783; Web site: www.calkain.com. Upland Real Estate Group, Inc. is selling the ground lease to a 3,500 sq.ft. 7-Eleven located along Limestone Drive in Gainesville, VA. Area retail includes Lowe’s Home Improvement, Target, Giant Food, Best Buy, The Sports Authority, PetSmart, DSW and Chase Bank. The average daily traffic count is 63,000 vehicles. The NOI is $156,000. The asking price is $2.6 million with a Cap rate of 6%. The company is also selling the ground lease to a 4,368 sq.ft. Chickfil-A located along Wellington Road in Gainesville, VA. Area retail includes Lowe’s Home Improvement, Target, Giant Food, PetSmart and Best Buy. The NOI is $135,000. The asking price is $2.25 million with a Cap rate of 6%. For more information, contact Deb Vannelli, Upland Real Estate Group, Inc., 50 South Sixth Street, Suite 1418, Minneapolis, MN 55402; 612-332-6600, Fax 612-3764489; Email: deb@upland.com; Web site: www.nnnsales.com. Spectrum Realty Services is selling a Family Dollar located in Wichita Falls, TX. The NOI is $65,000. The asking price is $850,000 with a Cap rate of 8%. For more information, contact Steven Waldman, Spectrum Realty Services, 3 West 57th Street, 10th Floor, New York, NY 10019; 212-871-5908; Email: swaldman@spectrumcapitalpartnersllc.com.
Epsteen & Associates, on behalf of a client, is looking to acquire single-tenant properties nationwide. Suitable properties include bank branches, restaurants, gas stations and convenience stores, drug stores, supermarkets, big box retail and auto repair facilities and parts stores, and are priced between $4 million and over $100 million with a Cap rate above 8.5%. The company will also consider portfolios and build-to-suits. For more information, contact David E. Morgan, Epsteen & Associates, 5034 Carpinteria Avenue, Carpinteria, CA 93013; 805-684-7767 Ext. 104, Fax 805-684-7776; Email: dmorgan@epsteensb.com. Franklin Street Real Estate is selling the following former Home Depot Landscape Supply locations throughout GA: a 12,000 sq.ft. unit situated on 8.32 acres along Satellite Boulevard in Duluth, a 12,000 sq.ft. unit situated on 4.44 acres along Parkway 575 in Woodstock, and an 11,417 sq.ft. location situated on 7.55 acres along Old Highway 41 in Kennesaw, GA. The asking price is $3.3 million for the Duluth property, $1.5 million for the Woodstock property and $3.2 million for the Kennesaw property. For more information, contact Mac McCall, Franklin Street Real Estate Services, 3525 Piedmont Road Northeast, Building 8, Suite 420, Atlanta, GA 30305; 404-832-1253, Fax 678-669-2412; Email: mmccall@fsfp.com; Web site: www.franklinstreetfinancial.com. NAI Avant is selling a 6,000 sq.ft. building situated on 3.5 acres at the intersection of Highway 301 and Cannon Bridge Road in Orangeburg, SC. The average daily traffic count is 31,000 vehicles. The asking price is $750,000. The company is also selling a 6,000 sq.ft. building situated on 0.7 acres in Columbia, SC. Area retail includes Dutch Square Mall. The asking price is $335,000. For more information, contact Mac Fanning, NAI Avant; 803-744-9840; Email: mfanning@naiavant.com. The Lightstone Group, with Paragon Outlet Partners, acquired Festival Bay Mall, a 750,000 sq.ft. center situated on 139 acres along International Drive in Orlando, FL. At the time of sale, the property was anchored by Bass Pro Shops, Cinemark Theatres, Ron Jon Surf Shop, Sheplers Western Wear and Vans Skatepark. The company acquired the property for $25 million. For more information, contact Chip Owen, The Lightstone Group, 460 Park Avenue, 13th Floor, New York, NY 10022; 212-616-9969; Web site: www.lightstonegroup.com. www.dealmakers.net
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Investment Management Associates, Inc. is selling a 40,800 sq.ft. parcel located at the intersection of Northwest 119th Street and 88th Avenue in Hialeah Gardens, FL. The asking price is $950,000. The company is also selling a 6.5-acre parcel located at the intersection of 64-68th Avenue and West Oakland Park Boulevard in Sunrise, FL. Area retail includes Publix. The average daily traffic count is 60,000 vehicles. The asking price is $4.8 million. The company is also selling a 14,250 sq.ft. parcel located along Southwest 8th Street in Miami, FL. The asking price is $850,000. For more information, contact Andrew Pearl, Investment Management Associates, Inc., 1575 San Ignacio Avenue, Suite 400, Coral Gables, FL 33146; 305-661-0110, Fax 305661-7803; Email: apearl@ima-realestate.com; Web site: www.ima-realestate.com. Progressive Real Estate Partners is selling a 5,014 sq.ft. freestanding Angel View Resale Boutique situated on a land area of 31,872 sq.ft. along Yucaipa Boulevard in Yucaipa, CA. The tenant is bound to a 10-year NNN lease. The asking price is $1.05 million with a Cap rate of 7.5%. For more information, contact Brad Umansky, Progressive Real Estate Partners, 3296 East Guasti Road, Suite 110, Ontario, CA 91764; 909-230-4500; Email: brad@progressiverep.com; Web site: www.progressiverep.com. The Boulder Group negotiated the $2.65 million sale of a single-tenant CVS situated on two acres in Lexington, KY. The company represented the buyer in the transaction. For more information, contact Randy Blankstein or Jimmy Goodman, The Boulder Group, 666 Dundee Road, Northbrook, IL 60062; 847-562-0003/8500; Emails: randy@bouldergroup.com and jimmy@bouldergroup.com; Web site: www.bouldergroup.com. One Liberty Properties, Inc. is looking to acquire single-tenant, net-leased properties nationwide, as well as grocery-anchored shopping centers located along the East Coast. For more information, contact Pat Callan Jr., Larry Ricketts or Justin Clair, One Liberty Properties, Inc., 60 Cutter Mill Road, Suite 303, Great Neck, NY 11021; 516-773-2795/2707/2756; Web site: D www.1liberty.com. M
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Food Retailers Expand Nationwide Sequoia Restaurant & Entertainment Group trades as Yard House at 29 locations throughout AZ, CA, CO, FL, GA, HI, IL, KS, MA, NV, NY, OR, TX and VA. The upscale casual restaurants occupy spaces of 10,000 sq.ft. to 11,000 sq.ft. in entertainment and lifestyle centers. Growth opportunities are sought nationwide during the coming 18 months. The company also trades as Il Fornaio at 22 locations throughout CA, CO, NV, VA and WA. The upscale Italian restaurants and bakeries, offering antipasti, soups, salads, wood-fired pizza, house-made pastas, grilled and rotisserie-roasted meats and desserts, occupy spaces of 8,000 sq.ft. in urban areas and lifestyle centers. Growth opportunities are sought along the eastern and western coasts of the U.S. during 2012. The company is site-selective. For more information, contact Brian Kjos or John Few, Sequoia Restaurant & Entertainment Group, 610 Newport Center Drive, Suite 500, Newport Beach, CA 92660; 949-706-6646, Fax 949-706-6634; Web site: www.sequoiacompany.com.
All American Specialty Restaurants, Inc. trades as All American Ice Cream & Frozen Yogurt Shops, All American Deli & Ice Cream Shops, Sertinos Café Restaurants and Sertinos Coffee Shops at 35 locations throughout AZ, CA, IA, MN, NJ, NY, OR, TX and UT. The restaurants occupy spaces of 700 sq.ft. to 2,600 sq.ft. in freestanding locations, malls, urban/downtown areas and entertainment, mixed-use, specialty, strip and tourist centers. Growth opportunities are sought nationwide during the coming 18 months. Typical leases run five years with a five-year option. Preferred demographics include a population of 25,000 within two miles earning $50,000 as the average household income. Major competitors include Cold Stone Creamery, Baskin-Robbins, Subway, Quiznos and Starbucks. The company is franchising. For more information, contact C.R. Duffie Jr. or Barry McVay, All American Specialty Restaurants, Inc., 1201 Southwest 12th Street, Suite 415, Portland, OR 97205; 503-224-6199, Fax 503-224-5042; Email: crduffie@allamericanicecream.com; Web site: www.allamericanrestaurants.com.
Good Times Restaurants, Inc. trades as Good Times Burgers & Frozen Custard at 49 locations throughout CO, ID, ND and WY. The restaurants occupy spaces of 1,900 sq.ft. to 2,400 sq.ft. in freestanding locations and endcaps of shopping centers. Growth opportunities are sought throughout CO during the coming 18 months. Typical leases run 15 years for freestanding locations and 10 years for endcap spaces. A vanilla shell and specific improvements are required. Preferred demographics include a population of 10,000 within one mile earning $50,000 as the average household income. Major competitors include Dairy Queen, Sonic Drive-In and Wendy’s. A land area of 25,000 sq.ft. to 30,000 sq.ft. is required for freestanding locations. The company is franchising. For more information, contact Boyd Hoback, Good Times Restaurants, Inc., 601 Corporate Circle, Golden, CO 80401-5622; 303-384-1440, Fax 303-273-0177; Email: bhoback@gtrestaurants.com.
Fuzziwig’s Candy Factory, Inc. trades as Fuzziwig’s Candy Factory and Sweets From Heaven at 75 locations nationwide and internationally. The shops, offering candy and ice cream, occupy spaces of 800 sq.ft. to 1,200 sq.ft. in regional malls, street fronts and lifestyle and specialty centers. Plans call for 10 to 12 openings nationwide during the coming 18 months. Typical leases run five years with a five-year option. A vanilla shell is required. The company is franchising. For more information, contact Kayo Folsom, Fuzziwig’s Candy Factory, Inc., 656 Main Street, Durango, CO 81301; 970-247-2770, Fax 970-247-2735; Email: info@fuzziwigscandyfactory.com; Web site: www.fuzziwigscandyfactory.com.
Dolphin Fast Food, Inc. trades as Burger King at 19 locations throughout MN. The fast food restaurants occupy spaces of 2,500 sq.ft. in freestanding locations and strip centers. Growth opportunities are sought throughout the existing market during the coming 18 months. For more information, contact Kurt Kiel, Dolphin Fast Food, Inc., 17 Washington Avenue North, Minneapolis, MN 55401; 612-338-4220, Fax 612-371-7488. page 10
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Parlour Enterprises trades as Farrell’s Ice Cream Parlor at two locations in CA. The ice cream shops occupy spaces of 5,500 sq.ft. to 8,000 sq.ft. in freestanding locations, malls and power centers. Plans call for two openings within the existing market during the coming 18 months, with representation by Grubb & Ellis. The company will begin franchising nationwide later this year. For more information, contact Ian Brown, Grubb & Ellis, 4675 MacArthur Court, Suite 1600, Newport Beach, CA 92660; 949608-2050; Email: ian.brown@grubb-ellis.com; Web site: www.grubb-ellis.com. Or Paul Kramer, Parlour Enterprises, 17 New Chardon, Laguna Niguel, CA 92677; 949481-7676; Email: pkramer2@cox.net; Web site: www.farrellsusa.com.
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Chinese Gourmet Express trades as Chinese Gourmet Express at 75 locations and as Sansei Japan at 15 locations nationwide. Chinese Gourmet Express restaurants occupy spaces of 600 sq.ft. to 2,000 sq.ft. and Sansei Japan locations occupy spaces of 600 sq.ft. to 1,300 sq.ft. in food courts and inline spaces of regional, super-regional, transportation and outlet centers. Growth opportunities are sought throughout major metropolitan markets nationwide during the coming 18 months, with representation by Zorehkey & Associates. For more information, contact Michael Zorehkey, Zorehkey & Associates, 30021 Tomas Street, Suite 300, Rancho Santa Margarita, CA 92688; 949-916-4178, Fax 949-916-4179; Email: mzorehkey@cox.net; Web site: www.zorehkeyandassociates.com. A. Pavone, Inc. trades as Pavone’s Pizza at five locations throughout NY. The pizzerias occupy spaces of 1,600 sq.ft. to 2,500 sq.ft. in freestanding locations, malls and strip centers. Growth opportunities are sought throughout central NY during the coming 18 months. The company prefers sites in hightraffic areas. For more information, contact Angelo Pavone, A. Pavone, Inc., 5081 Pine Valley Drive, Fayetteville, NY 13066; 315-4469400, Fax 315-251-1080. The Pizza Pipeline, Inc. trades as The Pizza Pipeline at 16 locations throughout ID, MT, OR and WA. The pizzerias occupy spaces of 1,900 sq.ft. in freestanding locations and strip centers. Growth opportunities are sought throughout the existing markets during the coming 18 months. The company is franchising. For more information, contact Mike Kight, The Pizza Pipeline, Inc., 418 West Sharp Avenue, Spokane, WA 99201; 509326-1977, Fax 509-326-3017; Web site: www.pizzapipeline.com. La Pizza Loca, Inc. trades as La Pizza Loca at 42 locations throughout CA. The pizzerias occupy spaces of 1,000 sq.ft. in freestanding locations and strip centers. Plans call for two to three openings during the coming 12 months. Typical leases run five years with options. Preferred demographics include a population of 30,000 within one mile. Major competitors include Domino’s Pizza, Pizza Hut and Papa John’s. The company is franchising. For more information, contact Armando Delgado, La Pizza Loca, Inc., 9550 Firestone Boulevard, Downey, CA 90241; 562745-2344, Fax 562-745-2341; Web site: www.lapizzaloca.com. DM
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Reception Sponsors The Ferber Company, Demetree Builders, Boos Development, Watkins Develpment, Landqwest Commercial, Kimley-Horn, Avista Retail, Kimco Realty, Southern Management and Development, Fraga Properties, Kitson & Partners, Shutts & Bowen, The Morris Companies, Real Property Specialists, Commercial Construction Specialists, FIRC Group, Sevell Realty Partners, Weingarten Realty, Sikon Construction, Ireland Company, Liberty Universal Management
Lease Signings R.J. Brunelli & Co. (732-721-5800) negotiated a lease with Muscle Maker Grill for 1,270 sq.ft. at Essex Square, a 16,000 sq.ft. center located in Lodi, NJ. Cotenants at the center include Sleepy’s and Verizon Wireless. The company also negotiated a lease with Muscle Maker Grill for 1,650 sq.ft. at Village Shopping Center, a 150,000 sq.ft. center located in New Providence, NJ. Cotenants at the center include A&P, CVS, RadioShack and Braunschweiger Jewelers. The company also negotiated a lease with Muscle Maker Grill for 2,795 sq.ft. at Brunswick Shopping Center, a 307,000 sq.ft. center located at the intersection of Route 1 and Milltown Road in North Brunswick, NJ. Cotenants at the center include LA Fitness, A&P, Dollar Tree and Sally Beauty Supply. The company also negotiated a lease with Monster Mini Golf for 11,200 sq.ft. at Union 22 Town Shopping Center, a 75,000 sq.ft. center located along Route 22 in Union, NJ. The company represented the tenant in the transction. The company also negotiated a lease with Deal$ for 18,200 sq.ft. at Bloomfield Plaza, an 89,200 sq.ft. center located along Bloomfield Avenue in Bloomfield, NJ. Cotenants at the center include Staples, Sally Beauty Supply, Casual Male, RadioShack and Payless Shoe Source. The company represented the tenant and Bloomfield Plaza Associates, LP represented the landlord in the transaction. The company also negotiated a lease with Whole Foods Market for 40,000 sq.ft. at Marlboro Commons, a 105,000 sq.ft. specialty center under construction at the intersection of Route 9 and Route 520 in Marlboro Township, NJ. The center is slated to open during 2012. The company represented the landlord, Pagano Associates, in the transaction. Mid-America Real Estate Corp. (630-9547300) negotiated a lease with Five Guys Famous Burgers and Fries for 2,158 sq.ft. at Geneva Commons, a 437,650 sq.ft. lifestyle center located at the intersection of Randall Road and Bricher Road in Geneva, IL. Cotenants at the center include Chicago Home Fitness, Francesca’s Collections, Kay Jewelers, Learning Express, Stride Rite, Dick’s Sporting Goods, Barnes & Noble, Crate & Barrel, Pottery Barn, H&M and Coldwater Creek. The company represented both the landlord and the tenant in the transaction. Grosvenor Americas (202-293-1235) signed a lease with Rosa Mexicano Restaurants for 7,304 sq.ft. of space along Wisconsin Avenue in Chevy Chase, MD. Cotenants include Elizabeth Arden Red Door Spa and FedEx Office. KLNB Retail represented the company and Sax Realty represented the tenant in the transaction. page 12
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Coldwell Banker Commercial Bennett Williams (717-843-5555) negotiated the following with Little Caesars: a five-year lease for 1,600 sq.ft. along South Queen Street in York, PA; a five-year lease for 1,964 sq.ft. at South Pointe Center, located along Quentin Road in Lebanon, PA, and a five-year lease for 2,000 sq.ft. along Rohrerstown Road in Lancaster, PA. The company also negotiated the following throughout PA: a 10-year lease with Jimmy John’s for 1,593 sq.ft. along South Queen Street in York; a three-year lease with Cellular Sales of Knoxville for 1,848 sq.ft. at Chambersburg Mall in Chambersburg and a 10-year lease with Five Guys Famous Burgers and Fries for 2,400 sq.ft. at Centerville Square Shopping Center, located along Centerville Road in Lancaster. Taylor Long Properties (804-864-9788) negotiated a seven-year lease with Great Clips for 1,200 sq.ft. along Old Forest Road in Lynchburg, VA. The company represented the tenant in the transaction. Thalhimer|Cushman & Wakefield (804648-5881) negotiated a lease with Moe’s Southwest Grill for 2,400 sq.ft. at Cosner’s Corner in Spotsylvania County, VA. Cotenants at the center include Virginia ABC Store, Smoothie King and Supercuts. The company also negotiated a land lease with The Bluefish Grill for a freestanding restaurant at West Broad Village in Short Pump, VA. RAS Brokerage (215-322-8070) negotiated a lease with Buffalo Wild Wings for 5,856 sq.ft. at BJ’s Shopping Center, located at the intersection of Route 22 and Terrill Road in Watchung, NJ. The company represented the tenant in the transaction. Goodman Real Estate Services Group, LLC (216-381-8200) negotiated a lease with Beckham’s B&M Bar-B-Que for 1,989 sq.ft. at Hawthorne Valley Shopping Center, a 317,380 sq.ft. center located at the intersection of Interstate 271/ Interstate 480 and Broadway Avenue in Oakwood Village, OH. Cotenants at the center include Sam’s Club, Levin Furniture, The Tile Shop and Ollie’s Bargain Outlet. Metro Commercial Real Estate (856-8661900) negotiated a lease with Party Fair for 12,500 sq.ft. at Windsor Heights Shopping Center, a 130,000 sq.ft. center located along Route 130 in East Windsor, NJ. The center is anchored by Super Fresh and cotenants include Staples, Sprint, PNC Bank, Payless ShoeSource and Lee’s Cleaners. The company represented the landlord, East Windsor, LLC, in the transaction. DM
Lead Sheet Cecil B. Corp. dba Bachelors, Cecil B. and City Man Pravin Bhagwan K-309 Fairlane Town Center 18900 Michigan Avenue Dearborn, MI 48126 313-336-7294, Fax 313-336-7294
Apparel The seven-unit chain operates locations throughout MI. The apparel stores occupy spaces of 2,000 sq.ft. to 3,500 sq.ft. in malls and strip centers. Growth opportunities are sought throughout the existing market, as well as FL, during the coming 18 months. The company prefers to locate in anchored shopping centers.
Speedee Worldwide Corp. dba Speedee Oil Change & Tune Up Mark Dearing c/o Midas International 4 Sanctuary Boulevard, Suite 102 Mandeville, LA 70471 985-624-2261 Ext. 223, Fax 985-624-3829 Email: mdearing@speedeecorp.com Web site: www.speedeecorp.com
Automotive The 175-unit chain operates locations nationwide and internationally. The service centers, offering oil changes, tune-ups, brake services and preventative maintenance, occupy spaces of 2,950 sq.ft. in freestanding locations, malls and mixed-use centers. Growth opportunities are sought throughout CA, LA and NC during the coming 18 months. Typical leases run 15 years. Specific improvements are required. Preferred demographics include a population of 25,000 within three miles earning $55,000 as the average household income. Major competitors include Jiffy Lube. The company is franchising.
Transamerica Worldwide, LLC dba Four Wheel Parts Performance Centers Bob Batsch 400 West Artesia Boulevard Compton, CA 90220 310-900-5500, Fax 310-747-3909 Web site: www.4wheelparts.com
Automotive The 55-unit chain operates locations throughout AZ, CA, CO, FL, GA, HI, IN, NC, NM, NV, OH, OK, OR, TN, TX, UT and WA. The automotive service centers occupy spaces of 10,000 sq.ft. in freestanding locations and specialty centers. Growth opportunities are sought throughout the existing markets during the coming 18 months. Typical leases run five years with two, five-year options.
Petroleum Marketers, Inc. dba Stop in Food Stores Ronald Hare 3000 Ogden Road Roanoke, VA 24018 540-772-4900, Fax 540-772-6900
Convenience The 92-unit chain operates locations throughout VA and WV. The convenience stores occupy spaces of 2,000 sq.ft. to 3,000 sq.ft. in freestanding locations. Growth opportunities are sought throughout the existing markets during the coming 18 months. Typical leases run 20 years. A land area of one acre is required. The company is franchising.
Walgreens Jeff Reenders or Nelson Wheeler c/o Strategic Retail Advisors 3990 Westerly Place, Suite 230 Newport Beach, CA 92660 949-640-6678, Fax 949-748-8088 Emails: jeff@strategicretailadvisor.com and nelson@strategicretailadvisor.com Web site: www.strategicretailadvisor.com
Drug Store The 7,670-unit chain operates locations nationwide and throughout Puerto Rico. The drug stores occupy spaces of 14,500 sq.ft. in freestanding locations. Growth opportunities are sought throughout Riverside, CA during the coming 18 months, with representation by Strategic Retail Advisors.
GameStop Sharon Carmichael c/o Terranomics Retail Services 1350 Bayshore Highway, Suite 900 Burlingame, CA 94010 408-200-8811 Email: scarmichael@terranomics.com Web site: www.terranomics.com
Electronics The 6,500-unit chain operates locations nationwide and internationally. The video game stores occupy spaces of 1,800 sq.ft. in entertainment, lifestyle and power centers. Plans call for three to six openings throughout the San Francisco Bay area of CA during the coming 18 months, with representation by Terranomics Retail Services. Typical leases run five years. Preferred cotenants include Target and Walmart.
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Dealmakers
March 25, 2011
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Lead Sheet Sanborn Theatres, Inc. dba The Movie Experience 13 Corporate Plaza, Suite 110 Newport Beach, CA 92660 Web site: www.themovieexperience.com
Entertainment The seven-unit chain operates locations throughout CA. The movie theaters occupy spaces of 48,000 sq.ft. to 62,000 sq.ft. in freestanding locations, malls and entertainment, lifestyle and outlet centers, as well as urban/downtown areas. Growth opportunities are sought throughout the existing market, as well as AZ and HI during the coming 18 months. Typical leases run 15 years with four, five-year options. Preferred demographics include a population of 100,000 within five miles.
Liberty Tax Service Josh Weiner or John Marigliano c/o Renaud Consulting 8605 Westwood Center Drive, Suite 309 Vienna, VA 22182 571-765-4430 Emails: jweiner@renaudconsulting.net and jmarigliano@renaudconsulting.net Web site: www.renaudconsulting.net
Finance The 3,800-unit chain operates locations nationwide and throughout Canada. The tax service centers occupy spaces of 800 sq.ft. to 1,600 sq.ft. in various types of spaces. Growth opportunities are sought throughout northern VA during the coming 18 months, with representation by Renuad Consulting. Expansion is franchise-driven.
Helzberg’s Diamond Shops, Inc. dba Helzberg Diamond Ellen Zellemer 1825 Swift Avenue North Kansas City, MO 64116 816-842-7780, Fax 816-627-1301 Web site: www.helzberg.com
Jewelry The 234-unit chain operates locations nationwide. The jewelry stores occupy spaces of 1,500 sq.ft. to 1,700 sq.ft. in malls. Growth opportunities are sought throughout the existing market during the coming 18 months. Preferred cotenants include fashion retailers.
Pet Valu Rob Samtmann c/o Equity Retail Brokers 101 West Elm Street, Suite 370 Conshohocken, PA 19428 610-645-7700 Ext. 108, Fax 610-645-5454 Email: rsamtmann@equityretailbrokers.com Web site: www.equityretailbrokers.com
Pet Supplies The 340-unit chain operates locations throughout MD, NJ, PA and VA, as well as Manitoba and Ontario, Canada. The pet supply stores occupy spaces of 2,500 sq.ft. to 3,500 sq.ft. in various types of spaces. Growth opportunities are sought throughout southern NJ and eastern PA during the coming 18 months, with representation by Equity Retail Brokers.
Black Photo Corp. dba Blacks and Astral Pete Scully 371 Gough Road Markham, Ontario, Canada L3R 4B6 905-475-2777, Fax 905-475-2720 Email: pscully@blacks.ca Web site: www.blackphoto.ca
Photo The 115-unit chain operates locations throughout Canada. The stores, offering photo developing and related accessories, occupy spaces of 1,100 sq.ft. to 1,700 sq.ft. in malls and power and strip centers. Growth opportunities are sought throughout the existing market during the coming 18 months. Typical leases run five to seven years. A vanilla shell and specific improvements are required. Preferred demographics include a population of 100,000 within four miles earning $85,000 as the average household income. Major competitors include Best Buy and Walmart.
Olan Mills, Inc. dba Olan Mills Jeff Selfon PO Box 23456 Chattanooga, TN 37422 423-622-5141 Ext. 8232, Fax 423-629-8611 Web site: www.olanmills.com
Photo The 540-unit chain operates locations nationwide. The photography studios occupy spaces of 2,000 sq.ft. in malls. Growth opportunities are sought throughout the existing market during the coming 18 months. The company prefers to locate in areas with high foot traffic and is site-selective.
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Lead Sheet Weight Watchers International dba Weight Watchers Tricia Shay 11 Madison Avenue New York, NY 10010 212-589-2812 Web site: www.weightwatchers.com
Service The 800-unit chain operates locations nationwide. The weight loss centers occupy spaces of 1,600 sq.ft. in lifestyle, power and strip centers. Limited growth opportunities are sought throughout the existing market during the coming 18 months. Preferred cotenants include grocery stores. The company is site-selective.
Genesco, Inc. dba Johnston & Murphy David Stuck 1415 Murfreesboro Road, Suite 606 Nashville, TN 37217 615-367-8011, Fax 615-367-7323 Email: dstuck@genesco.com Web site: www.genesco.com
Shoes The 110-unit chain operates locations nationwide. The stores, offering footwear, apparel and accessories, occupy spaces of 1,600 sq.ft. to 2,200 sq.ft. in airports, malls, lifestyle centers and urban/downtown areas. Plans call for 12 openings throughout the existing market during the coming 18 months. Typical leases run 10 years. Preferred cotenants include Banana Republic, Brooks Brothers, Hugo Boss and Ann Taylor.
Lamey-Wellehan James Wellehan or Don Stowell 940 Turner Street Auburn, ME 04210 207-784-6595, Fax 207-784-9650 Email: jim@lwshoes.com Web site: www.lwshoes.com
Shoes The six-unit chain operates locations throughout ME. The family footwear stores occupy spaces of 4,000 sq.ft. to 7,000 sq.ft. in freestanding locations and lifestyle, power, specialty and strip centers. Growth opportunities are sought throughout the existing market, as well as MA and NH, during the coming 18 months. Typical leases run five years with five, five-year options.
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 chain operates locations throughout CA. The shoe stores occupy spaces of 1,500 sq.ft. in malls and lifestyle centers. Growth opportunities are sought throughout the existing market, as well as OR and WA, during the coming 18 months, with representation by The Zall Co. Typical leases run 10 years. Preferred cotenants include apparel stores. Major competitors include The Walking Co.
Sign Biz, Inc. dba Sign Biz Paul Strauch 24681 La Plaza Drive, Suite 270 Dana Point, CA 92629 949-234-0408, Fax 949-234-0426 Email: pauls@signbiz.com Web site: www.signbiz.com
Signs The 189-unit chain operates locations nationwide and internationally. The stores, offering vinyl signs and banners, occupy spaces of 1,500 sq.ft. to 2,500 sq.ft. in strip centers and urban/downtown areas. Growth opportunities are sought throughout major metropolitan markets nationwide during the coming 18 months. Typical leases run five years.
ABC Liquors, Inc. dba ABC Fine Wines & Spirits Thomas Hartmann or Chris Quarles 8989 South Orange Avenue Orlando, FL 32824 407-851-0000, Fax 407-857-5500 Emails: tomh@abcfws.com and cquarles@abcfws.com
Specialty The 180-unit chain operates locations throughout FL. The stores, offering wine, liquor, gourmet foods and gift baskets, occupy spaces of 10,000 sq.ft. to 12,000 sq.ft. in freestanding locations and lifestyle and power centers. Growth opportunities are sought throughout the existing market during the coming 18 months. Preferred cotenants include casual dining restaurants and discount and big box retailers. Preferred demographics include a population of 75,000 within three miles earning $75,000 as the average household income. A land area of one to 1.5 acres is required. The company prefers to acquire sites.
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March 25, 2011
page 15
Lead Sheet B.J. Alan & Co., Inc. dba Phantom Fire Works Patrick Carlon 555 Martin Luther King Jr. Boulevard Youngstown, OH 44502 330-746-1064, Fax 330-746-4410 Email: pcarlon@fireworks.com Web site: www.fireworks.com
Specialty The 54-unit chain operates locations nationwide. The fireworks shops occupy spaces of 6,000 sq.ft. to 15,000 sq.ft. in freestanding locations. Plans call for four openings throughout FL, IN, NH, PA, SC, TN or WI during the coming 18 months. The company will not consider wood-frame buildings.
Hibbett Sports Scott Bitney c/o L3 Corp. 12655 Olive Boulevard, Suite 220 St. Louis, MO 63141 314-469-7400, Fax 314-576-9768 Email: scott@l3corp.net Web site: www.l3corp.net
Sporting Goods The 750-unit chain operates locations nationwide throughout 24 states. The sporting goods stores occupy spaces of 4,500 sq.ft. to 6,500 sq.ft. in power and strip centers. Growth opportunities are sought throughout MO during the coming 18 months, with representation by L3 Corp.
Spirit Halloween Superstores, LLC dba Spirit Halloween Frank Pacera 6826 Black Horse Pike Egg Harbor Township, NJ 08234 609-645-5447, Fax 609-645-5622 Email: frank.pacera@spirithalloween.com Web site: www.spirithalloween.com
Temporary Tenant The 1,000-unit chain operates temporary locations nationwide. The stores, offering Halloween costumes, masks, make-up and accessories, occupy spaces of 5,000 sq.ft. to 15,000 sq.ft. in malls and outlet, power, specialty and strip centers, as well as urban/downtown areas. Growth opportunities are sought throughout the existing market during the 2011 Halloween season. Preferred cotenants include Best Buy, Kohl’s, Target, Walmart and grocery stores. Preferred demographics include a population of 50,000 within five miles earning $50,000 as the average household income. Major competitors include Halloween Express, Party City and Halloween Adventure.
Learning Express Dan Coyle c/o The Rotella Group 3300 North Federal Highway, Suite 200 Ft. Lauderdale, FL 33306 954-568-9015, Fax 954-568-9597 Email: dan@rotellagroup.com Web site: www.rotellagroup.com
Toys The 140-unit chain operates locations nationwide. The toy stores occupy spaces of 3,000 sq.ft. in inline spaces and endcaps of shopping centers. Growth opportunities are sought throughout Broward, Miami-Dade and Palm Beach counties in FL during the coming 18 months, with representation by The Rotella Group. Preferred cotenants include grocery stores.
99 Cents Only Stores Jesse Allen 4000 Union Pacific Avenue City of Commerce, CA 90023 323-881-1258, Fax 323-307-9636 Web site: www.99only.com
Variety The 283-unit chain operates locations throughout AZ, CA, NV and TX. The stores, offering general merchandise items, occupy spaces of 12,000 sq.ft. to 22,000 sq.ft. in freestanding locations and power and neighborhood shopping centers, as well as downtown areas. Growth opportunities are sought throughout the existing markets during the coming 18 months. Preferred demographics include a population of 70,000 within one mile earning $40,000 as the average household income.
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 16
March 25, 2011
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Dealmakers
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d o o g g n i k o o l s i 201 Rep ortin g The Nat ion’ s Wee kly New s on XLIII Ret ailin g & Ret ail Rea l Esta te
Volume XXV No.
Apparel Chains Exp and
May 22-25, 2011 The Dealmakers May 27th issue
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Nationwide
Eileen Fisher, Inc. FEaTuRiN trades as Eileen Fisher, g Fisher Co. Store, Eileen Fisher Boutiq Eileen Jos. A. Bank Clothiers, Inc. trades as Jos. Eileen Fisher Lab ue and Bank Clothie Store at 52 locatio ICSC Southeast Confe A. rs at 494 locations ns throughout AZ, CA, CO, CT, nationwide. The rence stores, offering men’s FL, IL, MA, MD, MI, NJ, NM, of apparel, occupy New Construction NY, OR, PA, VA, spaces 4,000 sq.ft. to 4,500 WA and Washington, Century Retail is sq.ft. in lifestyle stores, offering women DC. The special developing a and ty 375,000 centers and urban/ ’s apparel, occupy sq.ft. mixed-u of 1,000 sq.ft. to downtown areas. in Avondale Estates, se project 2,500 sq.ft. in upscal spaces Growth opportunities GA........... Pg. 3 are lifestyle centers and downtown areas. e malls, major metropolitan market sought throughout Observations & Convers opportunities are s nationwide during Growth the comin ations Pg. 4 sought nationwide g 18 months. Preferr during the includ coming 18 month ed demographics Profile s. e a population For more inform Real Estate Southea miles earning $90,00 of 150,000 within five st, LLC ....... Pg. ation, contact Karen 6 0 as the average househ Eileen Fisher, Inc., Gray, income. old Two Bridge Street, The company will Buyers & Sellers Irvington, in malls NY 10533; 914-59 also consider locatin Coyote GRF|Inv 1-5700, Fax 914-59 g and factory outlet estors, LLC Web site: www.e centers 1-8900 and . ; Garrison For more inform Investm ileenfisher.com. ation, contact Joe acquired six centers ent Group Jos. A. Bank Clothie throughout Foley, AL, GA and NC ............ rs, Inc., 500 Hanov American Eagle ........... Pg. 8 Hampstead, MD er Pike, Outfitters, Inc. 21074 trades as 443-50 ; 443-508-4871, American Eagle Thalhimer is selling Fax Outfitt 8-4799; Email: an 88,298 sq.ft. center in Richmon jfoley@jos-a-bank.co nationwide and throug ers at 950 locations Web d, VA .... Pg. 15 site: www.josbank m; hout Canada and .com. Rico. The stores, Puerto Openings offerin casual apparel, footwe g men’s and women’s Pretty Urban Outfitters Girl ar and accessories, to open in Memphis, TN ............ spaces of 6,500 occupy and NY. operates 20 locations throughout sq.ft. .............. Pg. 10 NJ The stores, offerin areas. Limited growth in malls and downtown appare g discounted juniors l, occupy spaces JCPenney to open ’ opportunities are three stores of 3,500 sq.ft. to nationwide during sought sq.ft. in during 15,000 2011........................ the outlet, strip, tourist ..... Pg. 12 company also trades coming 18 months. The as well and value centers , as as Food Retailers Expand nationwide and throug aerie at 128 locations are sought urban areas. Growth opportunities LaRosa’s plans to hout Canada. The throughout AL, IL, enter offering women stores, during NJ, NY and PA market ........................ the NC ’s intimate appare the coming ............. Pg. 13 l, spaces of 4,500 18 months, with sq.ft. in malls. Limited occupy representation by Eretz, Sources of Financin Ltd. Typical leases opportunities are growth 10 years. g sought nationwide run A vanilla shell is The Washington during the cotena coming 18 month required. Preferred provided financin Trust Co. s. nts include Target g and T.J. Maxx. Major For more inform centers in MA and for shopping competitors includ RI ............... Pg. ation, contact e Rainbow Shops, 16 Cortazzo, Americ Michael and Ross CitiTrends an Dress for Less. Exclusives 150 Thorn Hill Drive, Eagle Outfitters, Inc., For more Cypress Retail Group Warrendale, PA represents 724-779-5555, Fax 15095; Eretz, Ltd., information, contact Ellaina Dreifac retailers through th h, 724-779-5580; Web out 5916 select markets in CA ............ www.ae.com and sites: 646-457-9837 18 Avenue, Brooklyn, NY 11204; .............. Pg. 16 www.aerie.com. ; Email: ellaina@eretzltd .com. In
ThIs Issue coN TaIN
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s INformaTIo * Retailers opera ting 31,381 locati N oN: ons with plans * Real estate value to open 2,246 d in excess of $80 sites million to be boug * Leasing activit ht, sold & finan y on over 4.9 millio ced n sq.ft. of retail properties
Important News Please Expedite
Postmaster: Period
ical
the News Newmark Knight Cynthia Groves Frank hired managing director, as senior consulting.... Pg. 17
Lease Signings S.L. Nusbaum negotiated leases
Realty Co. throughout VA Pg. 18 Lead Sheet Card$mart seeking stores nationwide ............ .................. Pg. 19 Shoe Sensation to open locations throughout AR, IA, MI, OH, PA, TN and IL, IN, KY, WV ......... Pg. 22 Space Place ............ ................. Pg. 23 Most Valuable Players ............. Pg. 30
For more news go www.dealmakers. to: net Mobile Access Code: 111210_CS3.indd
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RCG Ventures (404-816-5454) hired Kevin Donegan as a senior leasing representative. The company currently maintains a portfolio of 52 properties totaling five million sq.ft. Muss Development, LLC (718-263-3800) hired Nicholas J. Forelli. Prior to joining the company, Forelli served as director of leasing at Rosen Associates Management Corp. The company, based in Forest Hills, NY, develops properties throughout New York, NY. Weichert Commercial Brokerage, Inc. (973898-8705) hired Jorge L. Moreno as vice president and Robert Grant, June Maggio, Robin Mosley and Anthony Papantonio as sales associates. Moreno specializes in mixed-use and strip centers and multifamily properties throughout Bergen, Essex, Hudson and Union counties in NJ. Prior to joining the company, he served at Coldwell Banker Commercial NRT. Grant, Mosley and Maggio all joined the commercial division of Weichert after having served at Weichert Residential. Mosley will specialize in the sale and leasing of retail, office and investment properties throughout northern NJ. Papantonio will specialize in the sale and leasing of retail and office properties throughout Essex County, NJ. The company is a commercial brokerage firm operating out of NJ and PA, specializing in retail, investment, office and industrial properties as well as tenant representation and commercial land brokerage. Bradford Allen Capital (312-878-6705) hired Anthony Giannini as senior vice president. He specializes in debt origination and portfolio and asset management, restructuring debt, loan sales, acquisition analysis and equity placement. Prior to joining the company, he served as vice president for The Royal Bank of Canada – Capital Markets. The company provides mortgages for commercial properties nationwide. Colliers International (727-442-7184) hired Ryan Kratz as director of brokerage for the company’s Tampa Bay, Clearwater, Central Florida and Southwestern Florida offices. He will oversee brokerage services, business development, marketing and strategic planning for the offices. Prior to joining the company, he served as assistant vice president at NorthMarq Real Estate Services. The company is a commercial real estate services firm operating more than 480 offices throughout 61 countries worldwide, specializing in brokerage, property and asset management, consulting and appraisal, mortgage banking and research services. DM page 18
March 25, 2011
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Opelika – Midway Plaza, a 206,012 sq.ft. center located along Pepperell Parkway, has spaces available from 1,050 sq.ft. to 30,000 sq.ft. along with pad sites of 3,200 sq.ft.; 5,000 sq.ft. and 9,200 sq.ft. Cotenants include AK Nails, Sports Academy, Goodwill Industries, Tuesday Morning, Dollar General and Performance Truck Centers. Area demographics include a population of 75,180 within seven miles earning $31,466 as the median household income. For details, contact Dan Zelson, Charter Realty & Development Corp., 183 Main Street, Westport, CT 06880; 203-227-2922; Email: dan@chartweb.com; Web site: www.chartweb.com.
has spaces available of 464 sq.ft.; 504 sq.ft.; 1,425 sq.ft. and 5,882 sq.ft. For details, contact Whitaker Leonhardt, Crossman & Co., 3333 South Orange Avenue, Orlando, FL 32806; 407-581-6238; Email: wleonhardt@crossmanco.com; Web site: www.crossmanco.com.
California La Quinta – Washington Park, located along Highway 111, has a 33,862 sq.ft. former Circuit City available. Cotenants include Target, Lowe’s Home Improvement, Trader Joe’s, Lumpy’s Golf, Office Depot and Cost Plus World Market. For details, contact Curtis Barlow, Coldwell Banker Commercial Lyle & Associates, 78000 Fred Waring Drive, Suite 200, Palm Desert, CA 92211; 760-772-6400 Ext. 231; Web site: www.cbclyle.com.
Florida Coral Springs – A 103,000 sq.ft. center located along Sample Road has spaces available from 1,500 sq.ft. to 4,875 sq.ft. Publix anchors the center. Area retail includes Best Buy. Area demographics include a population of 372,000 within five miles earning $71,000 as the average household income. The asking rent is $16 psf with CAM of $9.50 psf. For details, contact Bill Lebo, William S. Lebo & Co., PO Box 266378, Weston, FL 33326; 954-476-2600; Email: blebo2600@gmail.com. Coral Springs – A 0.61-acre parcel located at the intersection of Sample Road and Coral Springs Drive is available. The average daily traffic count is 55,000 vehicles. For details, contact Brent Andrews or Tom Godino, Atlantic Retail Properties, 1001 North U.S. Highway One, Suite 600, Jupiter, FL 33477; 561-427-6699 Ext. 16/12; Emails: bandrews@atlanticretail.com and tgodino@atlanticretail.com; Web site: www.atlanticretail.com. Daytona Beach – Ocean Walk Shoppes, located along North Atlantic Avenue/A1A,
Dealmakers
www.dealmakers.net
Ft. Pierce – Indrio Crossings Shopping Center, a 139,058 sq.ft. center located along North Kings Highway, has spaces available from 900 sq.ft. to 12,845 sq.ft. Cotenants include Winn-Dixie and Bealls Outlet. Area demographics include a population of 40,780 within five miles earning $56,663 as the average household income. The average daily traffic count is 44,000 vehicles. Zephyrhills – Townview Square, a 169,833 sq.ft. center located along Route 301/Gall Boulevard, has a divisible space of 14,000 sq.ft. available. Cotenants include Kmart and Blockbuster Video. Area demographics include a population of 127,254 within 10 miles earning $58,339 as the average household income. The average daily traffic count is 32,000 vehicles. For details, contact Barbara J. Sacks, Stoltz, 725 Conshohocken State Road, Bala Cynwyd, PA 19004; 888-777-3557 Ext. 204, Fax 610664-1976; Email: bsacks@stoltzusa.com; Web site: www.stoltzusa.com.
Georgia Duluth – A three-acre parcel is available. Area retail includes Gwinnett Mall. The average daily traffic count is 200,000 vehicles. Morrow – A divisible six-acre parcel is available. Area retail includes Southlake Mall. The average daily traffic count is 75,000 vehicles. Norcross – A 6,000 sq.ft. restaurant situated on 1.5 acres along Holcomb Bridge Road is available. For details, contact Harold Shumacher, The Shumacher Group, 3188 Saybrook Drive, Atlanta, GA 30319; 404-240-0040; Email: harold@shumacher.com; Web site: www.shumacher.com.
Indiana Indianapolis – Two North, a 200,000 sq.ft. mixed-use center located at the intersection of North Meridian Street and West Washington Street, has a 2,177 sq.ft. space available. Cotenants include T-Mobile, Rock Bottom Brewery and Scottrade. Area retail includes Circle Centre Mall, featuring Nordstrom, United Artists, Carson Pirie Scott and T.J. Maxx. Area demographics include a population of 243,000 within five miles. The average daily traffic count is 30,000 vehicles. The asking rent is $68 psf.
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New Jersey
For details, contact Nicholas Wright, Newbridge Commercial Real Estate, 10 South New Jersey Street, Suite 100, Indianapolis, IN 46204; 317-374-1637; Email: newright@newbridgecre.com; Web site: www.newbridgecre.com.
Blairstown – A&P Shopping Center, a 110,000 sq.ft. strip center located at the intersection of Route 94 and Buchanan Road, has spaces available of 1,600 sq.ft.; 2,400 sq.ft. and 4,800 sq.ft. A&P anchors the center and cotenants include Curves. Area retail includes Rite Aid, PNC Bank, H&R Block, First Hope Bank, NAPA Auto Parts, Tractor Supply Co. and Valley National Bank. Area demographics include a population of 9,598 within five miles earning $98,124 as the average household income. South Brunswick – South Brunswick Square, a 260,000 sq.ft.
power center located at the intersection of U.S. Highway 1 and Wynwood Drive, has spaces available of 1,500 sq.ft.; 2,697 sq.ft. and 9,244 sq.ft. Stop & Shop, Home Depot and Bob’s Discount Furniture anchor the center. Cotenants include Capital One Bank, Bandito’s Restaurant, Dollar Tree and Verizon Wireless. Area retail includes Target, Best Buy, PetSmart, Great Clips, McDonald’s, Chase Bank, Burger King, Dunkin’ Donuts, Ashley Furniture and Valley National Bank. Area demographics include
Louisiana Baton Rouge – Cortana Mall, a 1.6-million sq.ft. mall located at the intersection of Airline Highway and Florida Boulevard, has space available. Dillard’s, JCPenney, Sears and Macy’s anchor the center. Cotenants include Bed Bath & Beyond, Office Depot, The Guitar Store, Shoe Carnival, Burger King, Old Navy, Sportswear, Road House Grill, Cozumel, Babies “R” Us, Mattress Firm and Gateway Country Store. Area retail includes Sam’s Club, Lowe’s Home Improvement and Walmart. Area demographics include a population of 419,988 within 10 miles earning $63,495 as the average household income. The average daily traffic count is 23,000 vehicles. For details, contact Mall Properties, Inc., 654 Madison Avenue, New York, NY 10065; 212-935-1330, Fax 212-832-5369; Email: leasing@mallproperties.com; Web site: www.mallproperties.com.
(continued on page twenty)
Reach oveR 55,000 Retail Real estate decision makeRs with just one click.
Real estate auctions narrow windows for marketing opportunities make e-Blasts essential.
Michigan Grand Haven – A 22,900 sq.ft. center located at the intersection of U.S. Highway 31 and Beacon Boulevard has space available. Cotenants include Domino’s Pizza, The Fortune Cookie, Vanderberg Wireless, Gallery of Frames and Q Nails. For details, contact Tim Platt, The Wisinski Group, 2618 East Paris Southeast, Grand Rapids, MI 49546; 616-942-8877, Fax 616942-2854; Email: tplatt@wisinski-group.com; Web site: www.wisinski-group.com.
developeRs & BRokeRs Retail real estate for lease and for sale moves fast with quality e-Blast leads.
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Montana Glendive – West Plaza, a 93,400 sq.ft. center located at the intersection of Interstate 94 and West Bell Avenue, has spaces available of 10,095 sq.ft. and 12,080 sq.ft. Big Kmart anchors the center and cotenants include Extreme Outlet, Dollar Store, Glendiive Clothing, Doc & Eddies, Pizza Hut and NAPA Auto Parts. Area demographics include a population within 10 miles earning $50,618 as the average household income. For details, contact Mall Properties, Inc., 654 Madison Avenue, New York, NY 10065; 212-935-1330, Fax 212-832-5369; Email: leasing@mallproperties.com; Web site: www.mallproperties.com.
seRvice pRovideRs decision makers look for key vendors and resources to enhance operations and cash flow.
disposition companies move sites quickly with e-Blasts.
For more information, call 1-800-732-5856 or visit www.eblast.net www.dealmakers.net
The
Dealmakers
March 25, 2011
page 19
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a population of 101,395 within five miles earning $96,159 as the average household income. The average daily traffic count is over 50,000 vehicles. For details regarding the Blairstown property, contact Wayne King, The Goldstein Group, 45 Eisenhower Drive, Suite 500, Paramus, NJ 07652; 201703-9700, Fax 201-703-9678; Email: rwking@thegoldsteingroup.com; Web site: www.thegoldsteingroup.com. For details regarding the South Brunswick property, contact Lew Finkelstein; Email: lfinkelstein@thegoldsteingroup.com. Voorhees – Echelon Village Plaza, located near the intersection of White Horse Road and Executive Drive, has spaces available of 1,600 sq.ft.; 3,380 sq.ft. and 48,776 sq.ft. Cotenants include Baja Fresh, GameStop, Quiznos, Hair Cuttery, Foot Solutions and Dry Clean City. Area retail includes Eagle Plaza, Bally Total Fitness, Target, Ritz Theaters, Echelon Village Mall, Voorhees Town Center and Eagle Plaza. Area demographics include a population of 247,913 within five miles earning $73,976 as the median household income. The average daily traffic count is 21,713 vehicles. The asking rent is $15 psf NNN with CAM of $1.92 psf and taxes of $4.58 psf. For details, contact Fred Younkin, Fameco Real Estate, LP, 633 West Germantown Pike, Suite 200, Plymouth Meeting, PA 19462; 610-834-8000, Fax 610-834-1793; Email: fyounkin@famecoretail.com; Web site: www.famecoretail.com. Woodbridge – Woodbridge Shopping Center, a 78,000 sq.ft. strip center situated on 7.58 acres, has a 57,000 sq.ft. anchor space available. Cotenants include Bottle Giant Liquors, Dollar Store, Subway, Rita’s and Supercuts. Area retail includes Woodbridge Mall. Area demographics include a population of 341,425 within three miles earning $65,542 as the average household income. For details, contact Robert H. Dembling, R.H. Dembling Realty Services, 6 West End Court, Long Branch, NJ 07740; 732-2291211 Ext. 110, Fax 732-272-1672; Email: rdembling@demblingrealty.com; Web site: www.demblingrealty.com.
New York New City – Town Plaza Shopping Center, a strip center located at the intersection of Main Street and Route 304, has a 1,400 sq.ft. page 20
March 25, 2011
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space available. The Clubhouse Bar and Grill and D&D’s Bar and Restaurant anchor the center. Area retail includes Clarkstown Mall. The asking rent is $3,000 with CAM of $500 and taxes of $450. For details, contact Sheri Chablis, Sohn Real Estate Corp., 191 South Main Street, New City, NY 10956; 914-906-2900; Email: getitsoldwithsohn@aol.com; Web site: www.sohnrealestate.com.
Verizon Wireless and Sally Beauty Supply. For details, contact Nicholas Schuman-Werb, Rivercrest Realty Investors; 800-992-4046; Email: nschuman@rivercrestrealty.com; Web site: www.rivercrestrealty.com.
North Carolina Charlotte – A 7,000 sq.ft. freestanding building located along Independence Boulevard is available. Matthews – An 8,500 sq.ft. freestanding building located along Independence Boulevard is available. Raleigh – Triangle Plaza, a 90,500 sq.ft. center situated on 8.9 acres at the intersection of U.S. Highway 1 and Old Wake Forest Road, has spaces available of 1,500 sq.ft.; 1,634 sq.ft. and 2,700 sq.ft. Cotenants include Best Buy, Total Wine & More, FedEx Office, Panera Bread and Ruby Tuesday. For details, contact Win Properties, Inc., 10 Rye Ridge Plaza, Suite 200, Rye Brook, NY 10573; 914-468-7300, Fax 914-468-7330. Forest City – A 186,240 sq.ft. center located at the intersection of U.S. Highway 74A and Britt Daniel Road has space available. Cotenants include Big Lots, TDF Furniture and Tractor Supply Co. For details, contact Tim Todaro, Phillips Edison & Co., 11501 Northlake Drive, Cincinnati, OH 45249; 440334-8371, Fax 513-618-4445; Email: ttodaro@phillipsedison.com; Web site: www.phillipsedison.com. Henderson – Dabney Center has spaces available of 1,200 sq.ft.; 1,800 sq.ft. and 10,010 sq.ft. Food Lion anchors the center. The asking rent ranges from $11 psf to $12 psf with CAM of $1.60 psf. For details, contact Bruce G. Lynch, Rosamund Property Consultants, PO Box 1989, 2 North Main Street, Wendell, NC 27591; 919-365-4977, Fax 919-573-9635; Email: blynch@rosamund.net. Winston-Salem – Oak Summit Shopping Center, a 142,340 sq.ft. center located along East Hanes Mill Road, has a 34,912 sq.ft. space available. Walmart Supercenter anchors the center and cotenants include Staples, PetSmart, Mattress Firm, Rainbow, Cato, Hibbett Sports, RadioShack, GameStop,
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www.dealmakers.net
Ohio Columbus – The Shops at Brice Road, a 268,000 sq.ft. power center situated on 22 acres along Chantry Drive, has spaces available of 5,000 sq.ft.; 60,000 sq.ft. and 138,000 sq.ft. along with a 15,000 sq.ft. outlot. PetSmart, Dollar Tree, The Sports Authority and OfficeMax anchor the center. Area retail includes Ashley Furniture, Old Navy, JCPenney Outlet Mall, Home Depot, Lowe’s Home Improvement and Hobby Lobby. For details, contact Kevin Thaxton, Equity, 445 Hutchinson Avenue, Suite 800, Columbus, OH 43235; 614-310-2109, Fax 614-802-2901; Email: kthaxton@equity.net; Web site: www.equity.net.
Pennsylvania Downingtown – Ashbridge Square Shopping Center, a 376,000 sq.ft. power center situated on 50 acres at the intersection of East Lincoln Highway/Business Route 30 and Ashbridge Square, has an 18,200 sq.ft. space available. Home Depot, Best Buy, Christmas Tree Shops, Bottom Dollar, JoAnn Fabrics and Staples anchor the center. Cotenants include Chuck E. Cheese’s, Tuesday Morning, H&R Block, Supercuts, Chick-fil-A, PJ Whelihan’s and King Buffet. Area retail includes Brandywine Square, featuring Wegmans, Regal Cinemas, BJ’s Wholesale Club, Dick’s Sporting Goods, A.C. Moore, hhgregg and PetSmart. Area demographics include a population of 94,299 within five miles earning $92,804 as the median household income. The average daily traffic count is 19,262 vehicles. The asking rent is $13 psf NNN with CAM of $1.12 psf and taxes of $2.54 psf. Philadelphia – Knights Road Plaza, a 70,000 sq.ft. strip center located at the intersection of Knights Road and Woodhaven Road, has spaces available from 410 sq.ft. to 17,000 sq.ft. along with a 43,560 sq.ft. outlot and two outlots of 21,780 sq.ft. Rite Aid and Empire Beauty anchor the center. Cotenants include Third Federal Bank, Dunkin’ Donuts, Joe Santucci’s, Knights Tavern and Beer Barrel. Area retail includes Franklin Mills Mall, Walmart, Pathmark, Dick’s Sporting Goods, Raymour & Flanigan and Franklin Mills
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Marketplace. Area demographics include a population of 312,549 within five miles earning $55,054 as the median household income. The average daily traffic count is 48,000 vehicles. The asking rent is $17 psf NNN with CAM of $3.37 psf and taxes of $1.02 psf. For details, contact Fred Younkin, Fameco Real Estate, LP, 633 West Germantown Pike, Suite 200, Plymouth Meeting, PA 19462; 610-834-8000, Fax 610-834-1793; Email: fyounkin@famecoretail.com; Web site: www.famecoretail.com.
GNC, Claires, Sally’s, Bath & Body Works, Hibbett Sports, Tuesday Morning, Payless ShoeSource, Family Cuts, Cato, Divine Design, Factory Connection, Aaron’s, Sho Gun Restaurant and Burger King. Area demographics include a population of 30,863 within five miles earning $47,335 as the average household income. For details, contact Stalworth Real Estate Services, 1700 George Bush Drive East, Suite 240, College Station, TX 77840; 979-696-1444. For additional information regarding the Paris property,
contact Jack Culpepper or Frank Heifrin; Emails: jack@stalworthonline.com and fgh@stalworthonline.com.
Virginia Mineral – New Bridge Landing, a 48,428 sq.ft. strip center situated on 9.5 acres, has a 1,200 sq.ft. space available along with two spaces of 1,500 sq.ft. Food Lion anchors the center and cotenants include Subway, Kara Nails, Big Cheese Pizza and Chef Lee Chinese Restaurant. (continued on page twenty-two)
Etters – Newberry Commons, a 147,049 sq.ft. strip center situated on 28.68 acres, has spaces available of 2,385 sq.ft.; 10,012 sq.ft. and 38,485 sq.ft. Cotenants include Rite Aid, The UPS Store, 1st Federal Credit Union, H&R Block, Family Dollar, Curves and Subway. The average daily traffic count is 61,760 vehicles. The asking rent ranges from $6 psf to $12 psf. For details, contact Benjamin M. Chiaro, ROCK Commercial Real Estate, 221 West Philadelphia Street, Suite 19, York, PA 17401; 717-854-5357, Fax 717-854-5367; Email: bchiaro@rockrealestate.net; Web site: www.rockrealestate.net.
Tennessee Morristown – A 49,318 sq.ft. center located along East Andrew Johnson Highway has spaces available of 2,400 sq.ft. and 12,178 sq.ft. Big Lots anchors the center and cotenants include Morristown Dry Goods, Cash Now and Regions Bank. Area demographics include a population of 77,811 within 10 miles earning $51,055 as the average household income. For details, contact Gibraltar Management Co., Inc., 150 White Plains Road, Tarrytown, NY 10591; 914-631-6200; Web site: www.gibraltarmgt.com.
Texas Bryan – A 5,490 sq.ft. freestanding former Oxford Street Restaurant situated on 0.89 acres at the intersection of Briarcrest Drive and Kent Street is available. Area demographics include a population of 128,508 within five miles. The average daily traffic count is 25,000 vehicles. Paris – Paris Towne Center, located at the intersection of Loop 286 and U.S. Highway 82, has spaces available of 6,450 sq.ft. and 7,365 sq.ft. Bealls, Belk, JCPenney, OfficeMax and Hastings anchor the center. Cotenants include Maurices, Shoe Department, Hobby Lobby, RadioShack,
Got space? Find your missing tenant.
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The
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March 25, 2011
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For details, contact Amy Knott, Chase Development Co., 208 North Garnett Street, Suite G, Henderson, NC 27536; 252-4928990 Ext. 101, Fax 252-430-1070; Email: amy@chasedevelopment.com; Web site: www.chasedevelopment.com. Richmond – Pocono Crossing Shopping Center, a 180,845 sq.ft. center located along Route 60/Midlothian Turnpike, has a 3,000 sq.ft. space available. Burlington Coat Factory and Chuck E. Cheese’s anchor the center. Cotenants include Lonestar Steakhouse, Catherines, Party City, Verizon Wireless and SunTrust Bank. Area demographics include a population of 130,914 within five miles earning $92,263 as the average household income. The average daily traffic count is 62,000 vehicles. Also, Oxbridge Square Shopping Center, a 127,801 sq.ft. center located along Hull Street Road, has spaces available from 1,014 sq.ft. to 2,986 sq.ft. Martin’s Food Market and Harley Davidson anchor the center. Cotenants include Barnett’s Hallmark and Starbucks. Area demographics include a population of
Virginia
Virginia
119,505 within five miles earning $80,280 as the average household income. The average daily traffic count is 38,000 vehicles. For details, contact Barbara J. Sacks, Stoltz, 725 Conshohocken State Road, Bala Cynwyd, PA 19004; 888-7773557 Ext. 204, Fax 610-664-1976; Email: bsacks@stoltzusa.com; Web site: www.stoltzusa.com.
yasmine.hammad@harrison-bates.com; Web site: www.harrison-bates.com.
Richmond – A 14,742 sq.ft. former All Tune & Lube situated on 1.426 acres at the intersection of Laburnum Avenue and Nine Mile Road is available. Area retail includes Bojangle’s, Family Dollar, Liberty Tax Service, Kmart, Walgreens and SunTrust Bank. Area demographics include a population of 156,091 within five miles earning $37,614 as the median household income. The average daily traffic count is 23,000 vehicles. The asking rent is $5.50 psf with CAM of $0.30 psf and taxes of $0.35 psf. For details, contact Yasmine Hamad, Grubb & Ellis|Harrison & Bates, 6606 West Broad Street, Suite 400, Richmond, VA 23230; 804-591-2419, Fax 804-782-1145; Email:
Start your subscription to
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Stephens City – Food Lion Shopping Center, a 93,000 sq.ft. center situated on 19.03 acres along Route 277/Fairfax Pike, has spaces available from 1,180 sq.ft. to 7,000 sq.ft. along with a divisible 26,000 sq.ft. anchor space and outlots. Food Lion anchors the center and cotenants include BB&T and AutoZone. For details, contact Win Properties, Inc., 10 Rye Ridge Plaza, Suite 200, Rye Brook, NY 10573; 914-468-7300, Fax 914-468-7330. Sterling – Sterling/Cascades Center, a two-story, 26,000 sq.ft. center situated on two acres at the intersection of Route 625 and Route 637, has space available. Area demographics include a population of 424,563 within 10 miles earning $109,836 as the median household income. For details, contact Frederic K. Wine, Quantum Cos., 4912 Del Ray Avenue, Bethesda, MD 20814; 301-657-9900 Ext. 312, Fax 301-657-8412; Email: fwine@quantumco.net. DM
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March 25, 2011
The
Dealmakers
www.dealmakers.net
Visit
at The Carolina’s Idea Exchange, Booth 700 Featured Properties
Leesville Towne Centre
Falls Pointe Shopping Center
Leesville Rd at I-540, Raleigh, NC
Falls of Neuse at Durant Rd, Raleigh, NC NORTH
H
NT RO AD
NORT
DURA
7,978 sf
E LEAS LAND 5sf 75,75
VILLE
FAL L
CHU
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S OF
RD. EXISTING LEESVILLE RD.
LEES
Contact:Ken Wygle
OFT ROAD
OWNED BY OTHERS
THE
MORROCR
4,072 sf
Former Blockbuster End Cap
NEU
SE R
Contact:Ken Wygle
Galleria Shopping Center
Galleria Blvd & Sardis Rd N, Charlotte, NC
OAD
Northwoods Shopping Center
Maynard Rd at N Harrison Ave, Cary, NC TRAFFIC LIGHT
ROAD MAYNARD
NORTH
HARRISON AVE.
ATM
S OD WO
RIV
E
IA BOULEVARD LLER
IVE DR
GA
9,600 sf
SIN GD PARTY
SUPER
STORE
CRO S
DISCOUNT
Former Rite Aid
DIS
THE
SAR
H ORT
DN
ROA
OWNED BY OTHERS
NORTH
6,200 sf
OWNED BY OTHERS
DIS
SAR
OWNED BY OTHERS
GAS PUMPS
NORTH
GALLERIA BOULEVARD
Contact: Nash Morris
Contact: Nash Morris
9420 Forum Dr #101, Raleigh, NC 27615
<>
866.373.9437
<>
www.weingarten.com
Great Opportunities in DLC’s Carolinas Portfolio!
North Carolina
Square Feet Available
Anchors
South Square Market - Charlotte
1,400; 3,200
Compare Foods
Shoppes at Hope Valley - Durham
1,600 - 6,000
Kroger
Swift Creek Plaza - Garner
2,400
Food Lion
Akers Center - Gastonia
700 - 6,000
Hobby Lobby, Toys ‘R’ Us
Westpark Shopping Center - Jacksonville
1,843; 5,097
Walgreens
Greystone Village - Raleigh
1,100 - 2,560
Food Lion
Tower Shopping Center - Raleigh
1,020 - 1,955
Conway, Food Lion
Broad River Centre - Columbia
1,500
Food Lion
North Pointe - Columbia
Call for details!
Publix
Poplar Springs Plaza - Duncan
1,541; 3,575
Publix
Armstong Plaza - Fountain Inn
1,500; 8,450
BI-LO
Butler Square - Mauldin
3,050
BI-LO
South Carolina
NEW LOOK. SAME DEALMAKERS.
For additional leasing information contact DLC’s Southeast Leasing Office at 404.817.3772 or visit www.dlcmgmt.com/southeast
Visit us at the ICSC Carolinas Idea Exchange • March 21& 22 • Booth 720