Reporting The Nation’s Weekly News on Retailing & Retail Real Estate
Volume XXIV No. XII
March 27, 2009
Apparel Chains Expand Nationwide 10 Spot operates 29 locations throughout NJ and NY. The women’s apparel stores occupy spaces of 3,500 sq.ft. to 4,000 sq.ft. in specialty and strip centers and urban/downtown areas. Growth opportunities are sought throughout the existing markets during the coming 18 months, with representation by Welco Realty. Preferred demographics include a population of 150,000 within three miles earning $35,000 to $50,000 as the average household income. For more information, contact Jerry Welkis or Antoinette Calisi, Welco Realty, 2525 Palmer Avenue, New Rochelle, NY 10801; 914-576-7500, Fax 914-576-7596; Emails: jwelkis@welcorealty.com and acalisi@welcorealty.com; Web site: www.welcorealty.com. Buffalo Exchange operates 36 locations throughout AZ, CA, CO, IL, LA, MN, NM, NV, NY, OR, PA, TX and WA. The stores, offering apparel and accessories which are bought, sold and traded directly with customers, occupy spaces of 2,000 sq.ft. to 4,000 sq.ft. in downtown areas and street fronts. Growth opportunities are sought throughout FL; Boston, MA; NJ; New York, NY and Washington, DC during the coming 18 months, with representation by Winick Realty Group. For more information, contact Adam Stupak, Winick Realty Group, 655 Third Avenue, 8th Floor, New York, NY 10017; Email: astupak@winick.com; Web sites: www.winick.com and www.buffaloexchange.com.
Fashions N’ More operates three locations throughout FL. The women’s apparel stores occupy spaces of 3,000 sq.ft. in strip centers. Growth opportunities are sought throughout western FL during the coming 18 months. Preferred cotenants include Beall’s, JCPenney and Sears. Typical leases run three years with options. For more information, contact Dennis Beaverson, Fashions N’ More, 3636 San Sabastian Court, Punta Gorda, FL 33950; 941637-7773. Windsor operates 48 locations throughout AZ, CA, CT, MI, NJ, NV, NY and TX. The stores, offering junior apparel and accessories, occupy spaces of 4,000 sq.ft. to 5,000 sq.ft. in super regional centers. Growth opportunities are sought throughout major metropolitan markets nationwide during the coming 18 months, with representation by Zorehkey & Associates. Typical leases run 12 years. A vanilla shell and specific improvements are required. Preferred cotenants include Macy’s, Nordstrom and junior and fashion apparel retailers. Preferred demographics include a population of 200,000 within a four-mile radius earning an average household income of $60,000. Major competitors include bebe and Ann Taylor Loft. For more information, contact Ed Zorehkey, Zorehkey & Associates, 30021 Tomas Street, Suite 300, Rancho Santa Margarita, CA 92688; 949-598-9796, Fax 949-598-9799; Email: eddiezo@aol.com; Web site: www.windsorapparel.com. (continued on page six)
This issue contains information on:
* Retailers operating 10,274 locations with plans to open 1,448 sites * Real estate valued in excess of $108.31 million to be bought, sold & financed * Leasing activity on over 5.9 million sq.ft. of retail properties
Important News Please Expedite
Postmaster: Periodical
Featuring Buyers & Sellers NovaSource Properties is selling a Del Taco site in Lehi, UT....... Pg. 3 Marcus & Millichap is selling a shopping center in Springfield, OH..................... Pg. 6 Openings Big Lots looks to open stores nationwide and test a new concept.......................... Pg. 4 New Construction Greenstone Realty is preleasing two properties in Brooklyn, NY......................... Pg. 5 Konover Development is developing a mixed-use center in Ranson, WV............ Pg. 5 Food Retailers Expand Panda Express will open locations throughout northern CA........................... Pg. 7 Wendy’s looks for sites in Las Vegas, NV and TX................. Pg. 7 Lease Signings Main Street Property Services negotiated a lease with Paradise Foods in Novato, CA Pg. 7 Exclusives Main & Main represents a number of retailers with their expansion in southern CA...... Pg. 8 Leadsheet Stein Mart looks for sites west of the Mississippi River.......... Pg. 9 Precision Time will open locations throughout major metropolitan areas nationwide............................ Pg. 12 In The News Kay Realty promoted Kate Russo to senior vice president of property management........ Pg. 13 Space Place........................... Pg. 13
For more news go to: www.dealmakers.net
Buyers and Sellers Realty USA Commercial is selling Elm Street Shops, a 17,721 sq.ft. strip center located along Elm Street in Pittsfield, MA. Rite Aid anchors the center and tenants include The UPS Store, Manhattan Pizza, Royal Cleaners, Bookshelf, Elm St. Discount and Royal Nails. The NOI is $249,604. The asking price is $2.9 million with a Cap rate of 8.6%. For more information, Joseph Palma, Realty USA Commercial, 20 Aviation Road, Albany, NY 12205; 518-207-6146, Fax 518458-7492; Email: jpalma@realtyusa.com; Web site: www.realtyusa.com.
President/Publisher.............................. Ann O'Neal ann@dealmakers.net Vice President .................................. Alyson Parker alyson@dealmakers.net Art Director................................. Anthony Pingicer anthony@dealmakers.net Editor.................................................. Erin Dunkley erin@dealmakers.net Editor............................................ Nicholas Hamner nicks@dealmakers.net Editor............................................... Adam Taliercio adamt@dealmakers.net Advertising Exec...................... Monica Carpenter monica@dealmakers.net Director of Circulation..................... Jane Winterle jane@dealmakers.net Advertising Coordinator............ Stephani Hamner stephani@dealmakers.net Founder................................................... Ted Kraus 1979–2007
The Dealmakers TM (ISSN 1055-0771) is published weekly except for the weeks of January 1st, July 4th, the ICSC's Spring and Fall Conventions and December 25th for $294 per year U.S., foreign $319 by TKO Real Estate Advisory Group Inc. PO Box 2630 Mercerville, NJ 08690-0630. The Dealmakers TM reports on over 20,000 retailers, developers and management companies every year. It is written by real estate professionals for real estate professionals. The newsletter keeps readers abreast of the latest leasing, development and management changes occurring in the real estate industry on a weekly basis. NOTE: Current federal law requires written consent from a company prior to utilizing the published fax number. Share The Dealmakers TM with your organization or service for free. Just let us know when your next meeting is and we'll send you copies of our issue for free for your members to learn how to be a better dealmaker! POSTMASTER: Send address changes to The Dealmakers, PO Box 2630 Mercerville, NJ 08690-0630 or 100 Youngs Road, Mercerville, NJ 08619. Periodical postage paid at Trenton, NJ and at additional mailing offices. Affiliated with Tenant Search, E.S.P., Properties by Fax Copyright 2009 by TKO Real Estate Advisory Group Inc. 609-587-6200, fax 609-587-3511.
Northwest Atlantic is selling a 139,496 sq.ft. former Costco site located along South Power Road in Mesa, AZ. Area retail includes PetSmart and Staples. The asking price is $12 million. The company is also selling a 122,732 sq.ft. former Costco situated on 10 acres along East Washington Avenue in Union Gap, WA. The asking price is $7 million. The company is also selling a 6.44-acre parcel located at the intersection of 300 South and 1700 West in Salt Lake City, UT. Area retail includes Costco. The company is also selling a 2.87-acre parcel located at the intersection of Lone Hill Avenue and Gladestone Avenue in San Dimas, CA. The parcel is a pad site located in front of Costco. The asking price is $3.7 million. The company is also selling a 4.2-acre parcel located along South Dallas Parkway in Plano, TX. Area retail includes Costco and Home Depot. The asking price is $6 million. For more information, contact Steve McArthur, Northwest Atlantic, 500 North State College, Suite 1080, Orange, CA 92868; 714-978-5022; Email: smcarthur@northwestatlantic.com. KW Commercial is selling a 7,800 sq.ft. strip center located in Gulfport, MS. All five tenants are bound to NNN leases. The asking price is $1.765 million with a Cap rate of 9%. The company is also selling a 23,000 sq.ft. strip center located in Biloxi, MS. Tenants include Citgo, Church’s Chicken and Sicily’s Restaurant. The asking price is $3.6 million with a Cap rate of 8%. Financing, in the form of a 30-year, $2.4 million note with an interest rate of 5.4%, is available. For more information, contact Molly McKinnon, KW Commercial; 850-499-5405; Email: molly@secommercialproperties.com. Sperry Van Ness is selling a 6.3-acre parcel located at the intersection of South Dobson Street and Hidden Creek Parkway in Burleson, TX. The asking price is $1.515 million. For more information, contact Cheri White, Sperry Van Ness, 1202 West Corporate Drive, Arlington, TX 76006; 214-546-6414, Fax 817-640-1217; Email: cheri.ccim@usa.net; Web site: www.svn.com. Wluka Real Estate Corp. is selling a 6.7acre parcel, with 4.5 usable acres, located at the intersection of Route 1 and Interstate 95 South in Sharon, MA. Area retail includes Wal*Mart, Big Y Supermarket, Walpole Mall and LA Fitness. For more information, contact Nancy Wluka, Wluka Real Estate Corp., 2 Chestnut Square, Sharon, MA 02067; 781-784-5125; Email: nancy@wlukarealestate.com; Web site: www.wlukarealestate.com. www.dealmakers.net
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David Goldenberg & Co. is selling a threeacre site with approvals for retail, restaurant or bank with drive-thru located at the intersection of Neil Street and Town Center Boulevard in Champaign, IL. Area retail includes Wal*Mart Supercenter, Sam’s Club, Meijer’s, Best Buy, Dick’s Sporting Goods, Menards, Lowe’s Home Improvement, Target, Borders, Barnes & Noble, Beverly Theaters, Staples, Pier 1 Imports, Outback Steakhouse, RadioShack, Old Navy, Blockbuster Video, Chili’s, O’Charley’s, Red Lobster, PetSmart, Applebee’s, Cost Plus World Market, Famous Footwear, Lone Star Steakhouse, Shoe Carnival, Michaels, dressbarn, Home Depot and Market Place Mall, featuring Macy’s, JCPenney, Sears and Bergners. Area demographics include a population of 124,774 within a five-mile radius earning an average household income of $74,714. For more information, contact David Goldenberg, David Goldenberg & Co.; 847-498-5151; Email: david@goldenbergcenters.com; Web site: www.goldenbergcenters.com. Princeton Realty Group is selling a 60,000 sq.ft. parcel located along Route 17K in Newburgh, NY. Area retail includes 84 Lumber, Allstate Insurance, Dunkin’ Donuts and Arby’s. For more information, contact Steven Corrigan, Princeton Realty Group, LLC, 333 North Bedford Road, Mt. Kisco, NY 10549; 914-747-5000, Fax 914-747-6666; Email: sc@princetonrealtygroup.com; Web site: www.princetonrealtygroup.com. Calkain Cos., Inc. is selling a 4,487 sq.ft. VA ABC site located in Arlington, VA. The tenant is bound to a five-year lease set to expire during February 2011 and featuring annual rent escalations of 2% and one, five-year option. The NOI is $128,564. The asking price is $1.904 million with a Cap rate of 6.75%. For more information, contact David Sobelman, Calkain Cos., Inc., 11150 Sunset Hills Road, Suite 300, Reston, VA 20190; 812282-6000; Email: dsobelman@calkain.com; Web site: www.calkain.com. NovaSource Properties is selling a Del Taco site located along North Thanksgiving Way in Lehi, UT. The tenant is bound to a NNN lease. Area retail includes Cabela’s, JCW’s Hamburgers and Megaplex Theaters. The asking price is $2.497 million with a Cap rate of 6.75%. For more information, contact Jeremy D. Doyle, NovaSource Properties; 801-484-3440 Ext. 25; Email: jdoyle@novasource.net.
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Who’s Opening and Where Big Lots, Inc. (614-278-6800) plans to open 45 Big Lots locations this year and close 40, as part of a plan to increase annual openings during the next several years to capitalize on lower rents brought about by the economic downturn. The number of openings is greater than the sum total of locations the company opened during the past three years and is the first net gain in locations for the company since 2004. The company will open stores nationwide, but will focus on CA, FL, NC, OR, SC and WA. The company will also open smaller footprint locations and test a new store layout concept, first in the Columbus, OH market and then throughout 60 locations nationwide. Kohl’s Corp. (262-703-7000) will open 55 Kohl’s stores this year. The company will open 36 department stores in former Mervyn’s locations and will open 30 stores throughout CA. Coldwater Creek, Inc. (208-263-2266) plans to open a maximum of 10 Coldwater Creek locations this year. The company opened seven apparel shops during the EXP_AD_5023_dealmaker1208.qxd:Layout fourth quarter of 2008 and currently operates 348 stores nationwide.
Cabela’s (308-254-5505) will open a 160,000 sq.ft. store at Xanadu, a mixeduse entertainment development located in East Rutherford, NJ, during the spring of 2010. The outdoor sports superstore was originally scheduled to open with the center during August, but the company pushed the opening back citing slowed expansion plans due to the economy. With the Cabela’s delay and questions surrounding the solvency of Muvico, who is slated to open a movie theater at the center, the center’s planned August opening may be delayed into 2010. Lowe’s Cos., Inc. (704-758-1000) plans to open five Lowe’s Home Improvement stores throughout Canada this year. The hardware and home improvement superstores first entered the Canada market two years ago. Big 5 Sporting Goods Corp. (310-536-0611) is slated to open less than 10 Big 5 Sporting Goods locations this year. The company opened 18 stores during 2008, including locations in Show Low, AZ; Atwater and Fontana, CA; Parker, CO; Sandpoint, ID; Albuquerque, Carlsbad and Rio Rancho, 1 12/10/08 9:32 AM Page 1 NM, and Tooele, UT, and currently operates 381 units nationwide.
Variety Wholesalers, Inc. (252-430-2600) will open a Roses Store discount store in a former Value City site located in Cumberland, MD. The company plans to open 12 stores this year and currently operates 440 stores throughout the Southeast under the Maxway, Bargain Town, Value Mart, Super Saver, Super 10, Bill’s Dollar Store and Super Dollar trade names, in addition to Roses Store. Brown Shoe Co., Inc. (314-854-4000) plans to open 55 Famous Footwear stores this year while closing 35 locations. The company currently operates 1,138 shoe stores nationwide, having opened 89 stores and closed 25 during 2008. The company plans to open 39 stores prior to this coming Easter and another 16 prior to August. Golfsmith International Holdings, Inc. (512837-8810) will relocate Golfsmith stores in Troy, MI and The Woodlands, TX this year and plans to selectively open locations over the next several years. The company recently opened a location in Palm Desert, CA during January and currently operates 72 units nationwide throughout 19 states. (continued on page eight)
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New Construction Greenstone Realty is preleasing a 35,750 sq.ft. building located at the intersection of Adams Street and Willoughby Street in Brooklyn, NY. Spaces of 1,410 sq.ft.; 14,600 sq.ft. and 19,775 sq.ft. are available. Area retail includes Macy’s, The Fulton Street Shopping Mall, Morton’s the Steakhouse, Ann Taylor, Banana Republic and a future H&M. Area demographics include a population of two million within a threemile radius earning an average household income of $111,000. The average daily traffic count is 100,000 vehicles. The center is slated to open next month. The company is also preleasing The EDGE, a 60,000 sq.ft. mixed-use center located within a 1.5 million sq.ft. mixed-use development located along Kent Avenue between Fifth Street and Seventh Street in the Williamsburg area of Brooklyn, NY. Spaces of 4,000 sq.ft.; 6,700 sq.ft. and 15,000 sq.ft. are available. A proposed 15,000 sq.ft. gourmet market will anchor the center. Area retail includes American Apparel, Sea, Planet Thailand and Ricky’s. Area demographics include a population of 1.5 million within a three-mile radius earning an average household income of $84,000. The asking rent ranges from $55 psf to $85 psf. For more information, contact Robert Greenstone, Greenstone Realty, 309 West 86th Street, New York, NY 10024; 212-3625414; Email: rob@greenstonerealty.com; Web sites: www.345adams.com and www.williamsburgedge.com. Orr Commercial is preleasing Heights Marketplace, a 52,000 sq.ft. mixed-use strip center situated on five acres at the intersection of Heights Boulevard and Washington Avenue in Heights, TX. A 35,000 sq.ft. outlot is available. Area demographics include a population of 411,456 within a five-mile radius earning an average household income of $80,326. The average daily traffic count is 25,000 vehicles. The asking rent is $35 psf with CAM of $3.50 psf and taxes of $6 psf. The center is scheduled to break ground during the fall and is slated to open during the summer of 2010. For more information, contact Joan Collum, Orr Commercial, 8554 Katy Freeway, Suite 100, Houston, TX 77024; 713-554-6501, Fax 713-468-7774; Email: jcollum@orrinc.com; Web site: www.orrinc.com. Planned Community Developers, Ltd. is developing the second and third phases of Lake Pointe Village, the retail component of Lake Pointe Town Center, a 190-acre mixeduse lifestyle development located at the intersection of Highway 6 and U.S. Highway 59 in Sugar Land, TX. Spaces are available.
Cotenants include Potbelly Sandwich Works, FedEx Office, Charles Schwab, Zounds Hearing, Sprint, Hinz Jewelers, Emmanuel Salon, Massage Heights, Isle Pedi Spa, Pearle Vision, Sugar Cycles, Snip-its, Texas Running Co., Hest Fitness, Natural Pawz, Kalologie Skincare and Mattress Expo. Phase two is slated to open later this quarter and phase three is scheduled to open later this year. For more information, contact Planned Community Developers, Ltd., 15958 City Walk, Suite 250, Sugar Land, TX 77479; 281-242-2000, Fax 281-242-2718; Web site: www.pcdltd.com. Konover Development Corp. is developing The Ranson Shoppes, a 16,410 sq.ft. sq.ft. project located within Potomac Town Center, a mixed-use development currently under construction along Route 9 in Ranson, WV. Cotenants include Five Guys Famous Burgers & Fries and Jerry’s Subs & Pizza. Area retail includes Home Depot, Weiss Supermarket, Kohl’s, Rite Aid, Chick-fil-A, Bob Evans and McDonald’s. The center is slated to open during the summer. For more information, contact Charles Schultz, Konover Development, 135 South Road, Farmington, CT 06032; 304-725-0009; Web site: www.konover.com. Charter Realty & Development Corp. is preleasing a strip center located at the intersection of Route 7 and Grove Street in Darien, CT. A 2,604 sq.ft. space is available. Area retail includes Brooks Brothers, Lucy Activewear, Darien Sports Shop, Ann Taylor Loft, Elizabeth Arden Red Door Spa, CVS and Starbucks. Area demographics include a population of 271,891 within a seven-mile radius earning an average household income of $129,757. The center is slated to open during the spring. For more information, contact Dan Zelson, Charter Realty & Development Corp., 183 Main Street, Westport, CT 06880; 203-227-2922, Fax 203-227-8388; Email: dan@chartweb.com. HUNT Commercial Real Estate is developing Tri-County Business Park, a mixed-use specialty center situated on 30 acres at the intersection of Main Street and Route 16 in Sardinia, NY. Spaces of 5,000 sq.ft. and 45,000 sq.ft. are available. The center is scheduled to break ground during April. For more information, contact Joe Giusiana, HUNT Commercial Real Estate, 403 Main Street, Suite 105, Buffalo, NY 14203; 716-864-2618; Email: jgiusiana@huntcommercial.com; Web site: www.huntcommercial.com. www.dealmakers.net
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Paster Enterprises, LLC is redeveloping Mendota Plaza, a 48,000 sq.ft. center located along Highway 110 in Mendota Heights, MN. A proposed 14,820 sq.ft. Walgreens will anchor the center and a 12,000 sq.ft. expansion space and 7,600 sq.ft. restaurant space are available. The first phase of the project will be completed by the end of this year and the Walgreens, expansion and restaurant spaces are slated for completion during the Spring of 2010. For more information, contact Malisa Hyland, Paster Enterprises, LLC; 651646-7901, Fax 651-646-1389; Email: mhyland@paster-enterprises.com; Web site: www.pasterenterprises.com. Grubb & Ellis|Sawyer Commercial is developing a 25,000 sq.ft. strip center situated on 2.2 acres along Highway 49 in Gulfport, MS. Area retail includes Prime Outlets, Best Buy Center, Crossroads Center and Wal*Mart Supercenter. Area demographics include a population of 142,952 within a 10-mile radius earning a median household income of $51,834. The average daily traffic count is 60,000 vehicles. The asking rent ranges from $18 psf to $21 psf with annual NNN fees of $3.75 psf. The center is slated to open during the fall. For more information, contact Rita Sadler, Grubb & Ellis|Sawyer Commercial, One Hancock Plaza, Suite 1013, Gulfport, MS 39501; 228-314-5021, Fax 228-563-1068; Email: rsadler@sawyercommercial.com; Web site: www.sawyercommercial.com. Staubach Retail is preleasing Mountain Vista Marketplace, a phased 700,000 sq.ft. mixed-use center located at the intersection of U.S. Highway 60 and Signal Butte Road in Mesa, AZ. The center includes retail, hospitality and residential components. Anchor, junior anchor and shop spaces are available along with pad sites. SuperTarget anchors the center and cotenants include Marshalls and Petco. Area demographics include a population of 436,363 within a 10-mile radius earning an average household income of $68,222. Phase one is slated to open during the spring of 2010 and phase two is slated to open during the spring of 2011. For more information, contact Ed Beeh, Chuck Gibson or Dan Nesson, Staubach Retail, 2415 East Camelback Road, Suite 400, Phoenix, AZ 85016; 602-682-6040/6035/6090; Emails: ed.beeh@staubachretail.com, chuck.gibson@staubachretail.com and dan.nesson@staubachretail.com; Web site: www.staubachretail.com. DM
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Apparel Chains Expand Nationwide
Buyers and Sellers
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Barbour operates five locations throughout MA, NY, PA and OR. The stores, offering better lines of apparel for men, women and children, in addition to accessories and bags, occupy spaces of 1,500 sq.ft. to 2,000 sq.ft. in downtown areas and street fronts. Growth opportunities are sought nationwide during the coming 18 months, with representation by Strategic Retail Advisors. For more information, contact Brian Reif, Strategic Retail Advisors, 455 Baseline Road, Northville, MI 48167; 617-894-2593, Fax 508-405-1931; Web site: www.barbour.com.
Cornerstone Property Advisors, LLC is selling a restaurant situated on 1.9 acres at the intersection of Interstate 40 and Lenoir Rhyne Boulevard in Hickory, NC. The average daily traffic count is 111,000 vehicles. For more information, contact Louis H. Asbury, Cornerstone Property Advisors, LLC, 2333 Randolph Road, Suite 135, Charlotte, NC 28207; 704358-9990, Fax 704-358-9981; Email: lasbury@cornerstonepropertyadvisors.com; Web site: www.cornerstonepropertyadvisors.com.
Bermo Enterprises, Inc. trades as Max 10 and Frayed at 40 locations throughout AR, IL, IN, MI and TX. The family apparel shops occupy spaces of 4,000 sq.ft. to 8,000 sq.ft. in freestanding locations, malls and strip and value centers. Growth opportunities are sought throughout the existing markets during the coming 18 months. A vanilla shell is required. Preferred cotenants include value-priced apparel and footwear retailers. For more information, contact Ed Bernard, Bermo Enterprises, Inc., 12033 U.S. 131, Schoolcraft, MI 49087; 269679-2580, Fax 269-679-2611; Email: ebernard@bermoenterprises.com; Web site: www.bermoenterprises.com. David’s Bridal, Inc. trades as David’s Bridal at 300 locations nationwide. The stores, offering bridal and bridesmaid gowns, formal wear, in addition to invitations and gifts, occupy spaces of 5,500 sq.ft. and 8,000 sq.ft. to 12,000 sq.ft. in freestanding locations and lifestyle, power, specialty and strip centers. Growth opportunities are sought throughout the existing market during the coming 18 months. Typical leases run 10 years. A vanilla shell and specific improvements are required. Preferred demographics include a population of 600,000 within 20 miles earning $45,000 as the average household income. The company also trades as Priscilla of Boston at 13 locations throughout CA, CO, GA, IL, MA, MN, NJ, PA, TX and VA. The specialty boutiques, featuring top designer brands for wedding dresses and formal wear, occupy spaces of 5,500 sq.ft. in lifestyle and specialty centers. Growth opportunities are sought throughout major metropolitan markets nationwide during the coming 18 months. Typical leases run 10 years. Preferred demographics include a population of 500,000 within 15 miles earning $75,000 as the average household income. For more information, contact Michael Mirsky, David’s Bridal, Inc., 1001 Washington Street, Conshohocken, PA 19428; Web sites: www.davidsbridal.com and www.priscillaofboston.com. DM page 6
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Marcus & Millichap Real Estate Investment Services is selling a 6,600 sq.ft. threestory building situated on a land area of 3,250 sq.ft. along 14th Street Northwest in Washington, DC. Area retail includes Whole Foods Market. The NOI is $264,000. The asking price is $2.45 million. The company is also selling a 60,000 sq.ft. strip center situated on 2.53 acres along East Ridge Road in Rochester, NY. Tenants include Aarons Rents, Nuway Automotive, Liberty Tax and Sunset Hydroponics. Area retail includes Home Depot. The center has an occupancy rate of 44%. The NOI is $124,798. The asking price is $2.5 million with a Cap rate of 4.99%. Financing, in the form of a 25-year, $1.641 million note with an interest rate of 5.75%, can be assumed. The company is also selling a 76,247 sq.ft. neighborhood center situated on 8.3 acres along Spaulding Road in Montezuma, GA. The center is 86% occupied and anchored by Fred’s. The NOI is $229,198. The asking price is $2.703 million with a Cap rate of 8.48%. The company is also selling a 9,196 sq.ft. strip center situated on 1.9 acres along Old Waterloo Road in Elkridge, MD. Food Lion and CVS shadow-anchor the center. Tenants include Floral Fruit Co., Pro Barbers, Gateway Pizza & Subs, Caribbean Market and Good Deals, Great Stuff. All tenants are bound to NNN leases featuring annual rent escalations of 3%. The asking price is $2.65 million with a Cap rate of 7.99%. The company is also selling a 4,500 sq.ft. strip center situated on 0.31 acres at the intersection of Route 520/Newman Springs Road and Shrewsbury Avenue in Red Bank, NJ. The center is 100% leased with tenants including Atlantic Carpet and Capital Signs. The NOI is $91,136. The asking price is $1.26 million with a Cap rate of 7.23%. The company is also selling Pine Dell Shopping Center, a 15,981 sq.ft. strip center situated on 2.35 acres along West Broad Street in Richmond, VA. The center is 100% occupied with tenants including Indo-Pak Super Store, Dong’s Karate, Mattress Outlet and Fantasy Nail & Skin. The average daily
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traffic count is 36,000 vehicles. The NOI is $227,118. The asking price is $2.895 million with a Cap rate of 7.85%. The company is also selling 201 South Dale Mabry Center, an 18,490 sq.ft. center situated on 1.3 acres along South Dale Mabry Highway in Tampa, FL. The center is 100% occupied with tenants including Drexel Heritage, Pei Wei Asian Diner and Alltel Wireless. All tenants are bound to NNN leases. The NOI is $546,500. The asking price is $7.807 million with a Cap rate of 7%. The company is also selling Bechtle Crossing, a 217,695 sq.ft. shopping center situated on 33.5 acres along North Bechtle Avenue in Springfield, OH. Kohl’s, Bed Bath & Beyond and Marshalls anchor the center. Tenants include Ashley Furniture, Dollar Tree, Lane Bryant, Olive Garden and Famous Footwear. The center is 97% leased with all tenants bound to NNN leases. The NOI is $1.823 million. The asking price is $23.525 million with a Cap rate of 7.75%. The company is also selling a 132,984 sq.ft. Home Depot situated on 27 acres along Pleasant Street in Bridgewater, MA. The tenant is bound to a 30-year NNN lease begun during May 2006 featuring rent escalations and eight, five-year options. The NOI is $825,000. The asking price is $13.75 million with a Cap rate of 6%. The company is also selling Paradise Shoppes of Upper St. Clair, a 13,229 sq.ft. shopping center situated on 1.65 acres along Washington Road in Upper St. Clair, PA. Tenants include Stonepeppers Grill and Fifth Third Bank. Area retail includes Sears, Macy’s, Boscov’s, Kohl’s and Toys “R” Us. Area demographics include a population of 240,000 within a five-mile radius. The center is 100% occupied. The NOI is $470,964. The asking price is $5.887 million with a Cap rate of 8%. For more information regarding the Washington, DC, Montezuma, GA, Elkridge, MD and Richmond, VA properties, contact Marcus & Millichap Real Estate Investment Services, 7315 Wisconsin Avenue, Suite 200W, Bethesda, MD 20814; 202-5363700, Fax 202-536-3710; Web site: www.marcusmillichap.com. For more information regarding the Rochester, NY, Bridgewater, MA and Upper St. Clair, PA properties, contact 270 Madison Avenue, 7th Floor, New York, NY 10016; 212-430-5100, Fax 212-430-5110. For more information regarding the Red Bank, NJ property, contact 611 River Drive, Fourth Floor, Elmwood Park, NJ 07407; 201-582-1000, Fax 201-5821010. For more information regarding the Tampa, FL and Springfield, OH properties, contact 1628 JFK Boulevard, Suite 1200, Philadelphia, PA 19103; 215-531-7000, Fax D M 215-531-7010.
Food Retailers Expand Nationwide Runza Restaurants trades as Runza at 83 locations throughout CO, IA, KS and NE. The restaurants, offering sandwiches, burgers, salads and desserts, occupy spaces of 2,500 sq.ft. to 3,500 sq.ft. in freestanding locations. Growth opportunities are sought throughout the existing market during the coming 18 months. Preferred cotenants include Target and Wal*Mart. The company is franchising. For more information, contact Jon Wurst, Runza Restaurants, 5931 South 58th Street, Suite D, Lincoln, NE 68516; 402-423-2394, Fax 402-423-5726; Email: jwurst@runzanational.com; Web site: www.runza.com. Camille’s Sidewalk Café operates 300 locations nationwide. The restaurants, offering sandwiches, salads, soups and wraps, occupy spaces of 1,500 sq.ft. to 2,000 sq.ft. in urban/downtown areas. Plans call for one opening in San Francisco, CA during the coming 18 months, with representation by Terranomics Retail Services. Panda Express operates 900 locations nationwide. The Chinese restaurants occupy spaces of 1,500 sq.ft. to 2,000 sq.ft. in freestanding locations and entertainment, lifestyle, outlet, power and specialty centers. Plans call for six to 10 openings throughout northern CA during the coming 18 months, with representation by Terranomics Retail Services. Typical leases run 10 years. Specific improvements are required. Preferred cotenants include Target, Wal*Mart and grocery stores. For more information, contact Sharon Carmichael, Terranomics Retail Services, 1350 Bayshore Highway, Suite 900, Burlingame, CA 94010; 408-200-8811, Fax 408-2008810; Email: scarmichael@terranomics.com; Web site: www.terranomics.com. Kolache Factory, Inc. trades as Kolache Factory at 37 locations throughout CO, IN, KS, MO, OH and TX. The bakery/cafes occupy spaces of 1,600 sq.ft. to 1,800 sq.ft. in freestanding locations and strip centers. Plans call for eight openings throughout CA, CO, IN, KS, MO and TX during the coming 18 months. Typical leases run five years. A vanilla shell and specific improvements are required. Preferred cotenants include Starbucks. Preferred demographics include a population of 60,000 within three miles earning $65,000 as the average household income. Major competitors include doughnut shops. The company is franchising. For more information, contact Aaron Nielsen, Kolache Factory, Inc., 15730 Park Row, Suite 150, Houston, TX 77084; 281-829-6188, Fax 281-829-6813; Email: anielsen@kolfac.com; Web site: www.kolachefactory.com.
Lease Signings
Lee’s Hoagie House, Inc. trades as Lee’s Hoagie House at 17 locations throughout NJ and PA. The sandwich shops, offering Philadelphia cheese steaks, hoagies, wraps, salads and wings, occupy spaces of 1,200 sq.ft. to 1,800 sq.ft. in freestanding locations, strip centers and urban/downtown areas. Growth opportunities are sought throughout MD, NJ, PA and Washington, DC during the coming 18 months. Typical leases run 10 years. Preferred demographics include a population of 10,000 within three miles earning $45,000 as the average household income. The company is franchising. For more information, contact John Connell, Lee’s Hoagie House, Inc., 26 2nd Street Pike, Southampton, PA 18966; 215742-8111, Fax 215-322-2537; Web site: www.leeshoagiehouse.com. Cedar Enterprises, Inc. trades as Wendy’s Old Fashion Hamburgers at 134 locations throughout CT, IN, NV, TX and WA. The fast food restaurants occupy spaces of 3,000 sq.ft. to 3,200 sq.ft. in freestanding locations. Plans call for two openings throughout Las Vegas, NV and TX during 2009. Typical leases run 20 years with two, five-year options. Specific improvements are required. Preferred cotenants include Kohl’s, Target and Wal*Mart. Major competitors include McDonald’s, What-A-Burger, In-N-Out Burger and Carl’s Jr. A land area of 0.75 acres is required. Preferred demographics include a population of 20,000 within a three-mile radius earning an average household income of $70,000. For more information, contact John Schall, Cedar Enterprises, Inc., 1328 Dublin Road, Suite 300, Columbus, OH 43215; 614-2940631 Ext. 1270, Fax 614-294-1648; Email: jschall@cedarenterprises.com; Web site: www.cedarenterprises.com. Deli Management, Inc. trades as Jason’s Deli at 180 locations throughout AL, AR, AZ, CA, CO, FL, GA, IA, IL, KS, KY, LA, MO, MS, NC, NE, NM, NV, OH, OK, PA, SC, TN, TX, UT and VA. The restaurants, offering healthy sandwiches, salads and wraps, occupy spaces of 4,500 sq.ft. to 5,000 sq.ft. in freestanding locations and strip centers. Growth opportunities are sought throughout southern FL; Atlanta, GA; Chicago, IL; Carey, Charlotte, Greensboro, Raleigh and WinstonSalem, NC; SC; VA and Washington, DC during the coming 18 months. For more information, contact Greg Messina, Deli Management, Inc., 2400 Broadway, Beaumont, TX 77702; 409838-1976, Fax 409-838-1906; Web site: www.jasonsdeli.com. DM www.dealmakers.net
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Goodman Real Estate Services Group, LLC (216-381-8200) negotiated a lease with Men’s Wearhouse for space at The OfficeMax Plaza, located in Fairlawn, OH. The company represented the tenant in the transaction. The company exclusively represents the tenant with its expansion throughout northeast OH. Mid-America Real Estate, Wisconsin, LLC (414-273-4600) negotiated a lease with Famous Labels for 35,000 sq.ft. at Shops at College Park, located on Van Roy Road in Appleton, WI. The company represented the landlord in the transaction. The company also negotiated a lease with Jimmy John’s for 1,578 sq.ft. at Hillside Terrace, located at the intersection of Highway 83 and Hillside Drive in Delafield, WI. The company represented both the landlord and the tenant in the transaction. Ludwig and Seeley, Inc. Real Estate (248750-1700) negotiated a lease with Albano’s Catering for 1,260 sq.ft. on Fourteen Mile Road in Royal Oak, MI. The company represented the landlord in the transaction. The company also negotiated a lease with Zack’s Hot Dogs for 1,750 sq.ft. on Groesbeck Highway in Clinton Township, MI. The company represented the landlord in the transaction. The company also negotiated a lease with Larams, Inc. for a 5,100 sq.ft. Ram’s Horn Restaurant site location on Whittaker Road in Ypsilanti, MI. The company represented both the landlord and the tenant in the transaction. The company also negotiated a lease with Marshalls for 28,000 sq.ft. at Village Lakes Shopping Center, located at the intersection of Highland Road and Elizabeth Lake Road in White Lake, Michigan. The company represented the landlord, GKMS Village Lakes, LLC, and Stokas Realty represented the tenant in the transaction. The tenant joins JCPenney, Famous Footwear, AAA, Biggby Coffee, Sally Beauty Supply and Verizon Wireless. The company also negotiated a lease with PharMor Pharmacy for 1,377 sq.ft. at The Shops at Woodward Place, located on Woodward Avenue in Highland Park, MI. The company represented the landlord, Woodward Place, LLC, in the transaction. Transwestern Retail (202-775-7000) negotiated a lease with Buddha Bar for space on Massachusetts Avenue Northwest in Washington, DC. The company represented the tenant in the transaction. Main Street Property Services, Inc. (925299-8170) negotiated a lease with Paradise Foods for space at Pacheco Plaza, located on Ignacio Boulevard in Novato, CA. DM
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Exclusives and Leasing Assignments
Who’s Opening and Where
Main & Main, Inc. (310-656-9980) represents the following retailers with their expansion plans: Nine West, throughout CA, utilizing spaces of 1,500 sq.ft. to 2,500 sq.ft. in urban/ downtown areas; Whole Foods Market, throughout Coachella Valley and San Diego County in CA, seeking spaces of 30,000 sq.ft. to 70,000 sq.ft. with trade-area demographics including a population earning $70,000 as the median household income; The Oceanaire Seafood Room, throughout CA, seeking spaces of 7,500 sq.ft. to 9,500 sq.ft. in endcap spaces; 7-Eleven, throughout the Inland Empire area, seeking sites of 2,000 sq.ft. to 3,000 sq.ft. in freestanding buildings or endcap spaces; Old Navy, throughout southern CA, utilizing spaces of 12,500 sq.ft. in lifestyle and power centers; Piatti, throughout southern CA, seeking sites of 5,000 sq.ft. to 7,000 sq.ft. with a 1,000 sq.ft. patio space in freestanding buildings or endcap spaces, with trade-area demographics including a population earning $70,000 as the median household income; Pei Wei Asian Diner, throughout southern CA, seeking spaces of 3,200 sq.ft. to 3,500 sq.ft. in freestanding pad sites or endcap spaces, and Pinkberry, throughout San Diego County, CA, seeking spaces of 800 sq.ft. to 1,200 sq.ft. in freestanding buildings or endcap spaces. DM
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Kenneth Cole Productions, Inc. (212265-1500) plans to open between 10 and 15 Kenneth Cole Outlet stores this year and close, remodel and relocate Kenneth Cole stores, as part of a plan to eventually operate 100 outlet locations and 150 branded locations. Raymour & Flanigan (315-453-2590) is slated to open four furniture store locations this year. The company is slated to open stores in former Linens ‘N Things sites in Secaucus, NJ; along Harmon Meadows Boulevard in Brooklyn, NY, and along Cropsey Avenue in Philadelphia, PA. The company is also slated to open a store in Gateway Center at Bronx Terminal Market in Bronx, NY. The stores will range in size from 35,000 sq.ft. to 48,000 sq.ft. The company currently operates 88 locations, including eight clearance centers, throughout CT, DE, MA, NJ, NY and PA. IKEA U.S., Inc. (610-834-0180) will open a 353,000 sq.ft. IKEA store in Tampa, FL during May. The furniture stores carry traditional and flat-pack furniture items in addition to home goods. The opening will be the company’s 37th in the U.S. and sixth in the Southeast.
AutoZone, Inc. (901-495-6500) is slated to open 28 AutoZone stores this quarter, having opened 19 during the last quarter. The company currently operates 4,141 auto parts supply stores nationwide. BJ’s Wholesale Club, Inc. (508-652-7904) plans to open between six to eight BJ’s Wholesale Club stores this year, including stores in Clermont, FL; North Bergen, NJ and Pelham Manor, NY. The company currently operates 180 of the wholesale clubs throughout 15 states. Wal*Mart Canada Corp. (905-821-2111) is slated to convert, renovate or open 26 Wal*Mart Supercenter locations throughout Canada this year, as part of a plan to end the year with 80 Supercenters and 232 Wal*Mart stores. Tory Burch, LLC (212-683-2323) will open a 1,864 sq.ft. Tory Burch boutique in a former Sharper Image site at The Mall at Millennia, located in Orlando, FL, during the summer. The store, selling women’s apparel, handbags, shoes and jewelry, will be the company’s third in D the state. M
localized expertise with a global perspective NORR is a fully integrated architecture, engineering and planning firm with offices located in the United States, Canada, and select international markets. Our team is comprised of professionals with specialized knowledge in retail planning and design. By drawing on our collective expertise NORR delivers effective and innovative solutions to the challenges that face the retail industry. NORR’s services include: Prototype Design and Adaptation Retail Centers Mixed-Use Projects Renovation and Remodel Programs Tenant Fit-up Repositioning of Real Estate Assets ADA Compliance 4300 West Cypress St., Suite 360 Tampa, FL 33607 813.870.2059 719 Griswold St., Suite 1000 Detroit, MI 48226 313.221.1150 THE AVENUES MALL
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Lead Sheet Belle Tire Kelly Esman c/o Kelly Esman & Associates 567 Chesterfield Avenue Birmingham, MI 48009 248-561-4700, Fax 248-642-3060 Email: kellyesman@aol.com
Automotive The 80-unit chain operates locations throughout MI and OH. The tire and automotive service centers occupy spaces of 9,500 sq.ft. to 10,000 sq.ft. in freestanding locations. Growth opportunities are sought throughout the existing markets and Miami, FL during the coming 18 months, with representation by Kelly Esman & Associates. A land area of one acre is required. The company prefers to acquire sites. Preferred cotenants include Wal*Mart, Home Depot, Lowe’s Home Improvement and Meijer.
Book Management, Inc. dba Atlantic Book Shop Mark Simon 1050 Colwell Lane, Suite 260 Conshohocken, PA 19428 610-629-6040 Ext. 125, Fax 610-629-6044 Email: msimon@atlanticbooks.us Web site: www.atlanticbooks.us
Books The 14-unit chain operates locations throughout DE, NJ and PA. The bookstores occupy spaces of 2,000 sq.ft. to 6,000 sq.ft. in tourist centers. Growth opportunities are sought throughout CT, DE, MA, ME, NC, NH, NJ and VA during the coming 18 months.
Martin & Bayley, Inc. dba Huck’s Convenience Stores Jim Whetstone 928 County Road 1350 North PO Box 385 Carmi, IL 62821 618-382-2334, Fax 618-382-8956
Convenience The 110-unit chain operates locations throughout IL, IN, KY, MO and TN. The convenience stores with gasoline facilities occupy spaces of 4,000 sq.ft. in freestanding locations. Growth opportunities are sought throughout the existing markets during the coming 18 months. A land area of 1.25 acres is required. The company prefers to acquire sites.
Mac’s Mini-Mart, Inc. dba Mac’s Mini-Mart Billy Carmichael PO Box 66 Laurel, MS 39441 601-428-8440, Fax 601-428-8445
Convenience The four-unit chain operates locations throughout MS. The convenience stores occupy spaces of 3,000 sq.ft. to 4,000 sq.ft. in freestanding locations and strip centers. Growth opportunities are sought throughout the existing market during the coming 18 months. Typical leases run 10 years with two, five-year options. The company prefers to acquire sites.
Dillard’s, Inc. dba Dillard’s Wes Cherry 1600 Cantrell Road Little Rock, AR 72201 501-376-5200, Fax 501-399-7502 Email: wes.cherry@dillards.com Web site: www.dillards.com
Department Store The 340-unit chain operates locations throughout the Midstates, South and West. The department stores occupy spaces of 70,000 sq.ft. to 300,000 sq.ft. in malls. Growth opportunities are sought nationwide during the coming 18 months.
Stein Mart David Darr c/o The Place Commercial Real Estate 12050 Vance Jackson Road, Suite 102 San Antonio, TX 78230 210-525-0131, Fax 210-366-0571
Department Store The 270-unit chain operates locations nationwide. The department stores, selling better lines of clothing for men, women and children in addition to soft home goods and gifts, occupy spaces of 36,000 sq.ft. to 42,000 sq.ft. in power, specialty and strip centers. Growth opportunities are sought nationwide, west of the Mississippi River, during the coming 18 months. Preferred demographics include a population of 150,000 within a five-mile radius.
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Lead Sheet GameStop David Emihovich c/o Katz & Associates Corp. 2000 Glades Road, Suite 206 Boca Raton, FL 33431 561-361-7232, Fax 561-361-7276 Email: demihovich@dkatz.com Web site: www.katzassociates.com
Electronics The 4,400-unit chain operates locations nationwide and internationally. The stores, selling new and used video games, consoles and accessories, occupy spaces of 1,200 sq.ft. to 1,800 sq.ft. in malls in addition to power and strip centers. Growth opportunities are sought throughout southeastern and southwestern FL during the coming 18 months. Preferred cotenants include grocery stores, big box retailers, restaurants, movie theaters and electronics stores. Preferred demographics include a population of 30,000 within a three-mile radius earning an average household income of $50,000.
Play N Trade Jeff Kalil c/o The Rotella Group, Inc. 3300 North Federal Highway, Suite 200 Fort Lauderdale, FL 33306 954-568-9015, Fax 954-568-9597 Email: jeff@rotellagroup.com
Electronics The 250-unit chain operates locations nationwide and internationally and throughout Canada. The stores, selling new and used video games, consoles and accessories, occupy spaces of 1,200 sq.ft. to 1,500 sq.ft. in entertainment, lifestyle, power, specialty and strip centers. Growth opportunities are sought throughout southeastern FL during the coming 18 months, with representation by The Rotella Group, Inc. Preferred cotenants include Target and Wal*Mart.
Cottonwood Financial dba The Cash Store Matthew Baulier or Kaylann Allan 1901 Gateway Drive, Suite 200 Irving, TX 75038 972-518-1152, Fax 972-582-1296 Emails: real_estate@internal.cottonwoodfinancial.com, mbaulier@cottonwoodfinancial.com and kallan@cottonwoodfinancial.com Web site: www.cashstore.com
Finance The 300-unit chain operates locations throughout IL, MI, NM, TX, UT, WA and WI. The shortterm loan providers occupy spaces of 1,200 sq.ft. to 3,000 sq.ft. in freestanding locations and power centers. Plans call for 100 openings throughout ID and the existing markets, excluding MI, during the coming 18 months. Typical leases run five years with options. A vanilla shell is required. Preferred cotenants include Wal*Mart Supercenter, SuperTarget and supermarkets. Preferred demographics include a population of 20,000 within a five-mile radius earning an average household income of $60,000.
Lot Stores Steven DePetris c/o Legend Properties, Inc. 20000 Horizon Way, Suite 280 Mount Laurel, NJ 08054-4341 856-231-1010, Fax 856-231-1111 Email: sdepetris@lpre.com Web site: www.lpre.com
General Merchandise The stores, selling general merchandise and family apparel, occupy spaces of 5,000 sq.ft. to 7,000 sq.ft. in strip and power centers. Growth opportunities are sought throughout NJ and PA during the coming 18 months, with representation by Legend Properties, Inc. Preferred cotenants include discount department stores and apparel retailers.
Regis Corp. dba Pro Cuts David Foley 7201 Metro Boulevard Minneapolis, MN 55439 952-947-7000, Fax 952-947-7900 Email: david.foley@regiscorp.com Web site: www.regiscorp.com
Hair The 179-unit chain operates locations throughout OH and PA. The hair salons occupy spaces of 1,000 sq.ft. in power and strip centers. Growth opportunities are sought nationwide during the coming 18 months.
ColorTyme, Inc dba ColorTyme and RimTyme Jim Deering 5501 Headquarters Drive Plano, TX 75024 972-608-5376, Fax 972-403-4923 Web site: www.colortyme.com
Home The 241-unit chain operates locations nationwide. ColorTyme offers rent-to-own and rental appliances, furniture and electronics. RimTyme offers custom wheels and tires for automobiles. Both concepts occupy spaces of 3,700 sq.ft. to 5,000 sq.ft. in downtown/urban locations, strip centers and freestanding locations. Growth opportunities are sought throughout the existing markets during the coming 18 months. The company is franchising.
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Lead Sheet Chicago Clock Co. Andrew Matthiesen 431 West Ogden Street Clarendon Hills, IL 60514 630-986-9210, Fax 630-986-9224
Home The four-unit chain operates locations throughout IL. The stores, selling clocks and time pieces, occupy spaces of 4,000 sq.ft. in strip centers. Growth opportunities are sought throughout the existing market during the coming 18 months. Typical leases run five years. A vanilla shell and tenant improvement allowance are required.
Helzberg’s Diamond Shops, Inc. dba Helzberg Diamonds Ellen Zellemer 1825 Swift Avenue North Kansas City, MO 64116 816-842-7780, Fax 816-627-1301 Web site: www.helzberg.com
Jewelry The 240-unit chain operates locations nationwide. The stores, selling fine jewelry, occupy spaces of 1,400 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.
Clean Rite Centers, LLC dba Clean Rite Centers Lou Wachtel 95-25 Queens Boulevard Rego Park, NY 11374 914-921-8211, Fax 914-921-4838 Email: lou@spectrumrealtycapital.com
Laundromat The 104-unit chain operates locations throughout CT, MA, NJ, NY and RI. The laundromats occupy spaces of 4,000 sq.ft. to 6,000 sq.ft. in endcaps and pad sites of centers in addition to freestanding locations. Plans call for 24 openings throughout the existing markets during the coming 18 months. Typical leases run 20 years with two, five-year options. The company will acquire sites. Preferred demographics include a population of 30,000 within a one-mile radius earning an average household income of $30,000 to $60,000. A vanilla shell is required. Preferred cotenants include Family Dollar and Rent-A-Center. A land area of 10,000 sq.ft. is required for freestanding locations.
Beverages & More, Inc. dba Beverages & More! Jeff Sealy 1470 Enea Circle, Suite 1600 Concord, CA 94520 925-609-6031 Email: sealyj@bevmo.com Web site: www.bevmo.com
Specialty The 98-unit chain operates locations throughout AZ and CA. The stores, selling wine, spirits, beer, gourmet food and accessories, occupy spaces of 8,000 sq.ft. to 10,000 sq.ft. in freestanding locations in addition to power and strip centers. Growth opportunities are sought throughout the existing markets during the coming 18 months. Typical leases run 10 years to 15 years. A vanilla shell and specific improvements are required. Preferred cotenants include Barnes & Noble, Best Buy, Costco, Trader Joes, Target and Fresh & Easy Neighborhood Market. Preferred demographics include a population of 150,000 within a 10-mile radius earning a median household income of $75,000.
Car Pool Susan Jones c/o Grubb & Ellis/Harrison & Bates 6606 West Broad Street, Suite 400 Richmond, VA 23230 804-788-1000, Fax 804-782-1145 Email: susan.jones@harrison-bates.com Web site: www.harrison-bates.com
Specialty The eight-unit chain operates locations throughout central VA. The car wash centers occupy a land area of 0.5 acres to one acre in freestanding locations. Plans call for four to six openings throughout the existing market during the coming 18 months, with representation by Grubb & Ellis/Harrison & Bates. The company prefers to acquire sites.
Christie-Adam Salons & Spa Shary Thur or John Margiliano c/o Thur & Associates 8260 Greensboro Drive, Suite 270 McLean, VA 22102 703-847-0865 Email: sthur@thurassociates.com Web site: www.christieadam.com
Specialty The three-unit chain operates locations throughout VA. The salons, offering a full range of hair and spa services, occupy spaces of 3,500 sq.ft. to 4,000 sq.ft. in malls and lifestyle, power and specialty centers. Growth opportunities are sought throughout northern VA during the coming 18 months, with representation by Thur & Associates.
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Lead Sheet Precision Time Rick Zorehkey c/o Zorehkey & Associates 30021 Tomas Street, Suite 300 Rancho Santa Margarita, CA 92688 949-709-0000 Email: rzorehkey@cox.net Web site: www.precisiontimeco.com
Specialty The 120-unit chain operates locations throughout AZ, CA, CO, CT, FL, IA, ID, IL, KY, MA, MO, NE, NJ, NY, OK, OR, SD, TN, TX, UT and WA. The stores, offering watches and accessories, occupy inline spaces and kiosks. Plans call for five openings throughout major metropolitan markets nationwide during the coming 18 months, with representation by Zorehkey & Associates.
Hibbett Sports, Inc. dba Hibbett Sporting Goods David Bordsen 517 Hooper Lane Chapel Hill, NC 27514 919-428-0045 Email: drbordsen@yahoo.com Web site: www.hibbett.com
Sporting Goods The 650-unit chain operates locations throughout AL, AR, AZ, FL, GA, IA, IL, IN, KS, KY, LA, MO, MS, NC, NE, NM, OH, OK, SC, TN, TX, VA and WV. The sporting goods stores occupy spaces of 5,000 sq.ft. in strip centers and malls. Growth opportunities are sought throughout the existing markets, in addition to DE, MD and PA, during the coming 18 months. Typical leases run five years with options. A vanilla shell and tenant improvement allowance is required. Preferred cotenants include Belk, Cato, Fashion Bug, JCPenney, Target and Wal*Mart. Preferred demographics include a population of 20,000 within a five-mile radius.
Puget Consumers Co-Op dba PCC Natural Markets Randy Lee 4201 Roosevelt Way Northeast Seattle, WA 98105 206-547-1222, Fax 206-545-7131 Email: randy.lee@pccsea.com Web site: www.pccnaturalmarkets.com
Supermarket The nine-unit chain operates locations throughout WA. The natural foods grocery stores occupy spaces of 20,000 sq.ft. to 25,000 sq.ft. in freestanding locations and strip centers. Plans call for one opening throughout the existing market during the coming 18 months. Typical leases run 15 to 20 years with options. Preferred cotenants include non-food retailers. Major competitors include Whole Foods Market.
Ricky’s – Halloween Superstores Adam Stupak c/o Winick Realty Group 655 Third Avenue, 8th Floor New York, NY 10017 212-792-2635 Email: astupak@winick.com Web site: www.winick.com
Temporary Tenant The stores, selling Halloween costumes and merchandise, occupy spaces of 2,500 sq.ft. in downtown/urban locations. Growth opportunities are sought for seasonal locations throughout FL; Boston, MA; NJ; the New York, NY metropolitan area; Philadelphia, PA and Washington, DC for operation during August, September and October 2009.
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 725-unit chain operates locations nationwide. The stores, selling Halloween costumes, merchandise and accessories, occupy spaces of 5,000 sq.ft. to 12,000 sq.ft. in downtown/ urban locations, malls and outlet, power, specialty and strip centers. Plans call for 500 seasonal openings throughout the existing market during the coming 18 months. Preferred cotenants include Target, Wal*Mart, Best Buy, Kohl’s and supermarkets. Major competitors include Halloween Express, Party City and Halloween Adventure. Preferred demographics include a population of 50,000 within a three to five-mile radius earning an average household income of $50,000.
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 12
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Birmingham – River Ridge, a 349,804 sq.ft. community center located at the intersection of River View Road and Cahaba River Road, has spaces available of 1,499 sq.ft. and 2,782 sq.ft. Best Buy and Staples anchor the center. Cotenants include Cost Plus World Market, Pearle Vision, Pet Supplies Plus, Jenny Craig, Men’s Wearhouse, Carrabba’s, GameStop, Signs & Graphics, Nationwide Insurance, Buffalo Wild Wings and Chanail. Area retail includes SuperTarget, Golfsmith and Brunswick Bowling. Area demographics include a population of 275,172 within 10 miles earning $85,880 as the average household income. Dothan – Shops on the Circle, a 182,933 sq.ft. community center located at the intersection of Ross Clark Circle and Highway 231/Montgomery Highway, has spaces available of 1,050 sq.ft. and 2,400 sq.ft. T.J. Maxx, Old Navy and PetSmart anchor the center. Cotenants include Jill’s Hair Salon, Marble Slab Creamery, Surprises Inside, Nails Plus, Supercuts, Bai Braids, Beef O’Brady’s, Party America, Sally Beauty Supply, Delectable Edibles, Shoe Carnival, Cato, Lifeway Christian Stores, Dothan Health Foods and Valued Services. Area retail includes Sam’s Club. Area demographics include a population of 94,293 within 10 miles earning $54,047 as the average household income. Huntsville – Westside Centre, a 666,307 sq.ft. community center located at the intersection of University Drive and Enterprise Way, has spaces available from 1,500 sq.ft. to 28,500 sq.ft. Dick’s Sporting Goods and Stein Mart anchor the center and SuperTarget shadow-anchors the center. Cotenants include Verizon Wireless, Rack Room Shoes, Babies “R” Us, Marshalls, dressbarn, Men’s Wearhouse, Sally Beauty Supply, Bed Bath & Beyond, Shoe Carnival, Michaels, Goody’s, Ross Dress for Less, Dollar Tree, Summit Nails, Firehouse Subs, Hancock Fabrics, Party City, Hallmark, Avenue, PetSmart, Atlanta Bread Co., Cost Cutters, Catherines, The UPS Store, The Vitamin Shoppe, Lifeway Christian Store, Kirkland, MovieStop, GameStop and Lane Bryant. Area retail includes IHOP, O’Charley’s, Logan’s Steakhouse, Burger King, Guthrie’s and Burlington Coat Factory. Area demographics include a population of 219,334 within 10 miles earning $66,023 as the average household income. For details, contact Developers Diversified Realty, 3300 Enterprise Parkway, Beachwood, OH 44122; 216-755-5500, Fax 216-755-1500; Web site: www.ddr.com.
Avenue has spaces available of 841 sq.ft. and 1,055 sq.ft. Cotenants include 7-Eleven, Malibu Fish Grill, The Coffee Bean & Tea Leaf and Salon Beliza. Area demographics include a population of 468,722 within five miles earning $89,893 as the average household income. The average daily traffic count is 77,000 vehicles. For details, contact Bob Pfaff, MB Commercial, 16101 Goldenwest Street, Huntington Beach, CA 92647; 714-375-5777.
California Huntington Beach – A center located at the intersection of Beach Boulevard and Talbert
Marina Del Rey – Plaza Marina, a center located at the intersection of Lincoln Boulevard and Washington Boulevard, has spaces available of 1,185 sq.ft. and 2,000 sq.ft. Cotenants include AT&T Mobility, Uncle Darrows, Ortho Mattress and Togo’s Pizza. Area retail includes The Coffee Bean & Tea Leaf and Costco Center, featuring Costco, Starbucks, Subway, Albertsons, EZLube, Verizon Wireless, GNC, In-NOut Burger and Hollywood Video. Area demographics include a population of 117,000 within two miles. The average daily traffic count is 100,000 vehicles. The asking monthly rent is $6.25 psf NNN. Santa Monica – A center located on Montana Avenue has combinable spaces of 1,332 sq.ft. and 1,955 sq.ft. available. Area retail includes WilliamsSonoma, Coldwell Banker, 17th Street Café, Whole Foods Market, Lucky Brand Jeans, Kiehl’s, Planet Blue, YogaWorks, Pinkberry, Montana Music Studio, Il Primo Passo, Nadeau, La Partie, First Federal Bank, Sun Precautions, Little House Boutique, Oreck, House Boutique, Kitchens on Montana, Zaine Colour Salon, Sabi, Yellow Lotus, 4Wellbeing & Natural Healing Center, Citron, Montana Clock Shop, L’Oliphant Designer Jewelry, Antoine Pierre, Nail Spa Lane, Via Dolce Bakery Café and Regent Square Pharmacy. The asking rent ranges from $7 psf to $8.25 psf NNN. Also, a center located on Second Street has a 7,500 sq.ft. space available. Area retail includes Ye Olde King’s Shop, Bryan Kest’s Power Yoga, On the Path Gallery, 2nd Street Place, Buca di Beppo, Oxbow, The Coffee Bean & Tea Leaf, Tudor House, 24-Hour Fitness, Jinky’s Café and Buddha’s Belly. Area demographics include a population of 150,000 within three miles earning $116,000 as the average household income. The asking monthly rent is $4.25 psf NNN. Van Nuys – The Plant Shopping Center, a 550,000 sq.ft. power center located on Van Nuys Boulevard, has spaces available of 1,000 sq.ft.; 1,387 sq.ft.; 2,007 sq.ft.; 11,000 sq.ft. and 11,625 sq.ft. Home Depot, Living Spaces and Mann (continued on page fourteen) www.dealmakers.net
Real Estate Professionals Making the News
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Kay Realty (732-918-1148) promoted Kate Russo from vice president of property management to senior vice president of property management. Russo has been with the company for four years. The company also hired Aaron Levine as director of leasing. NAI San Diego (619-497-2255) hired Phil Blau. He will specialize in the sale, purchase and leasing of commercial properties and businesses throughout San Diego, CA. Prior to joining the company, Blau was an associate with Award Commercial Properties. Roberts Commercial (770-840-9395) hired William M. Bartlett Jr. as senior vice president, acquisitions. He will oversee the company’s acquisitions, development and brokerage departments, as well as the company’s Opportunity Fund II. Gast Retail Group (714-777-9779) hired Tom Gast as a principal. He will specialize in retail brokerage and consulting services for property owners, retailers and supermarket operators. Prior to joining the company, Gast was president and partner at De Rito Partners West, where he was responsible for all new development and acquisition activities throughout CA and NV. Sperry Van Ness International (877-765-3786) named Jerry Anderson, executive managing director for Sperry Van Ness Florida, as a regional team leader for the Sperry Van Ness Asset Recovery Team, which specializes in troubled assets providing services to government agencies, lenders, special servicers and financial institutions. As executive managing director, Anderson is responsible for the growth and unification of the company in FL. Divaris Real Estate, Inc. (757-497-2113) formed Asset Repositioning and Monetization Services, a new division designed to offer creative and practical turnkey solutions for owners, lenders, investors and loan servicers of troubled commercial real estate. Services the division provides include consulting, receivership, asset management, property management, repositioning/redevelopment and project management, leasing, sales and refinancing. Gerald Divaris, Michael Divaris, Sanford Cohen and John M. Millar will lead the new division. Coyote Management, LP (972-248-9375) appointed Shawn R. Merecki as vice president of leasing. Merecki previously served as vice president of leasing for Midway Cos., where he was responsible for leasing and managing day-to-day operations of leasing for a $500 million mixed-use project. DM
Dealmakers
March 27, 2009
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Theatre anchor the center. Cotenants include H&R Block, Krystal Clean Laundrymat, Cash Plus, FedEx Office, GameStop, Togo’s Pizza, GNC, In-N-Out Burger, Starbucks, Robeks, Cute Nails & Hair, RadioShack, Dentaland, Hometown Buffet, Babies “R” Us, Ross Dress for Less, Sally Beauty Supply, Party City and Michaels. The asking monthly rent ranges from $1.95 psf to $3.25 psf NNN. For details, contact Ed Sachse, Sachse Real Estate, 315 South Beverly Drive, Suite 415, Beverly Hills, CA 90212; 310-
California
Colorado
284-7100 Ext. 17, Fax 310-284-7817; Email: ed@sreproperty.com; Web site: www.sreproperty.com. For additional details regarding the Marina Del Rey and Second Street properties, contact Judd Zinberg; 310-2847100 Ext. 13; Email: judd@sreproperty.com. For additional details regarding the Montana Avenue property, contact Rachel Rosenberg; 310-284-7100 Ext. 33; Email: rachel@sreproperty.com. For additional details regarding the Van Nuys property, contact Matt Adamczyk; 310-284-7100 Ext. 24; Email: matt@sreproperty.com.
Colorado Springs – The Promenade Shops at Briargate, a 285,000 sq.ft. lifestyle center, has space available. Cotenants include Ann Taylor, Banana Republic, Bath & Body Works, Biaggi’s Ristorante Italiano, Brighton Collectibles, California Pizza Kitchen, Chico’s, Clarks, Coldwater Creek, Express, J. Jill, Jos. A. Bank, Origins, P.F. Chang’s China Bistro, Pottery Barn, Starbucks, Talbots, Ted’s Montana Grill, Victoria’s Secret, White House|Black Market and Williams-Sonoma. Trade-area demographics include a population of 342,200 earning $72,400 as the average household income. The average daily traffic count is 80,000 vehicles. Loveland – The Promenade Shops at Centerra, a 700,000 sq.ft. lifestyle center located at the intersection of Interstate 25 and U.S. Highway 34, has space available. Barnes & Noble, Best Buy, Dick’s Sporting Goods, Macy’s and Metrolux 14 Theatre anchor the center. Cotenants include American Eagle Outfitters, Ann Taylor Loft, Banana Republic, Bath & Body Works, Bebe, Biaggi’s Ristorante Italiano, Buckle, Build-ABear Workshop, Charlotte Russe, Chico’s, Christopher & Banks, Claire’s, Clarks, Coldwater Creek, Express, The Finish Line, Francesca’s Collections, Gap, Gymboree, Helzberg Diamonds, J. Jill, Jos. A. Bank, The Limited Too, New York & Co., On the Border, P.F. Chang’s, PacSun, Select Comfort, Soma, Starbucks, The Children’s Place, Victoria’s Secret and White House|Black Market. Trade-area demographics include a population of 578,500 earning $72,200 as the average household income. The average daily traffic count is 120,000 vehicles. For details, contact Poag & McEwen Lifestyle Centers, 6410 Poplar Avenue, Suite 850, Memphis, TN 38119; 901-761-7604; Web site: www.pm-lifestyle.com.
ovEr 55,000
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Find out what else sets us apart From the competition call alyson parker or monica carpenter at 1-800-732-5856 page 14
March 27, 2009
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Orange – A 200,000 sq.ft. strip center located on Boston Post Road has a 43,702 sq.ft. space available. Guitar Center anchors the center. Area retail includes Lowe’s Home Improvement, Dick’s Sporting Goods, Best Buy, Burlington Coat Factory, Target and Sam’s Club. Area demographics include a population of 345,746 within seven miles earning $66,729 as the average household income. Norwalk – A 12,700 sq.ft. strip center has a 2,350 sq.ft. space available. dressbarn anchors the center. Area demographics include a population of 193,547 within seven miles earning $165,105 as the average household income. Westport – Westport Plaza, a 36,923 sq.ft. strip center located
Space Place
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Connecticut
Florida
Indiana
at the intersection of Route 1 and Bulkley Road, has a 4,800 sq.ft. space available. HomeGoods, Walgreens and Pet Supplies Plus anchor the center. Area demographics include a population of 241,321 within seven miles earning $112,080 as the average household income. For details, contact Dan Zelson, Charter Realty & Development Corp., 183 Main Street, Westport, CT 06880; 203-227-2922, Fax 203-227-8388; Email: dan@chartweb.com; Web site: www.chartweb.com.
Angels. Area retail includes Regency Mall. Area demographics include a population of 180,411 within five miles earning $45,817 as the average household income. Ocala – Steeplechase Plaza, a 92,180 sq.ft. center located on State Road 200, has spaces available of 2,400 sq.ft. and 3,600 sq.ft. along with an anchor space of 42,112 sq.ft. Cotenants include Walgreens, Beall’s Outlet, Blockbuster Video, World Savings Bank and Checkers. Area retail includes CVS. Area demographics include a population of 52,778 within seven miles earning $40,501 as the average household income. Orange Park – The Village Shopping Center, a 136,833 sq.ft. center located at the intersection of Blanding Boulevard and Cleveland Avenue, has spaces available of 1,500 sq.ft.; 3,000 sq.ft. and 35,500 sq.ft. Publix anchors the center and cotenants include Dollar Tree, Beall’s, Papa John’s, Subway, Fantastic Sams, The UPS Store, Taco Bell and Shakes. Area retail includes Food Lion and Wal*Mart. Area demographics include a population of 182,931 within seven miles earning $65,857 as the average household income. For details, contact David Emihovich, Marlon Stone or Martin Hennessy, Katz & Associates; 561-361-7232 or 630-571-5692; Emails: davidemihovich@dkatz.com, marlonstone@dkatz.com and martinhennessy@dkatz.com; Web site: www.katzassociates.com. Or Developers Diversified Realty; 3300 Enterprise Parkway, Beachwood, OH 44122; 216-755-5500, Fax 216-755-1500; Web site: www.ddr.com.
Evansville – Stonefield Crossing, a center located on Green River Road, has outlots and pad sites available for ground lease or build-to-suit. Menards anchors the center. Area demographics include a population of 205,619 within 10 miles earning $54,929 as the average household income. For details, contact Jim Vincent; 812-2042236; Email: jv2236@gmail.com; Web site: www.stonefieldcrossing.com.
Florida Bradenton – Cortez Plaza, a 289,110 sq.ft. center located at the intersection of U.S. Highway 41 and Cortez Road, has spaces available of 787 sq.ft.; 1,792 sq.ft. and 3,864 sq.ft. Burlington Coat Factory anchors the center and cotenants include Bank of America, PetSmart, Publix and Chuck E. Cheese’s. Area retail includes Ross Dress for Less, Michaels, Bed Bath & Beyond, Toys “R” Us, Office Depot, Lowe’s Home Improvement, Best Buy, OfficeMax, Dick’s Sporting Goods and Desoto Square Mall, featuring Dillard’s, JCPenney, Sears and Macy’s. Area demographics include a population of 181,937 within five miles earning $43,784 as the average household income. Daytona Beach – Volusia Point, a 75,386 sq.ft. center located at the intersection of U.S. Highway 92/Volusia Avenue and West International Speedway Boulevard, has spaces available of 1,595 sq.ft.; 2,372 sq.ft.; 3,680 sq.ft.; 3,760 sq.ft. and 6,170 sq.ft. Marshalls anchors the center and cotenants include Ruby Tuesday, Friendly’s and Smoothie King. Area retail includes Volusia Mall, featuring Dillard’s, Sears and Burdines. Area draws include Daytona International Speedway. Area demographics include a population of 174,167 within seven miles earning $39,987 as the average household income. Jacksonville – Jacksonville Regional, a 295,090 sq.ft. center located at the intersection of Dunn Avenue and Lem Turner Road, has spaces available from 1,200 sq.ft. to 11,165 sq.ft. JCPenney and Winn-Dixie anchor the center. Cotenants include Beall’s Outlet, McDonald’s and CitiTrends. Area retail includes Walgreens and Wal*Mart Supercenter. Area demographics include a population of 143,653 within seven miles earning $39,845 as the average household income. Also, Arlington Plaza, a 182,098 sq.ft. center located at the intersection of Arlington Road and Rogero Road, has spaces available from 1,755 sq.ft. to 15,600 sq.ft. Food Lion anchors the center and cotenants include Family Dollar, Rent-ACenter, Stylo, Norstan-Fashion and Precious
Maine Camden – A 5,000 sq.ft. freestanding building located on Elm Street has a
Palm Coast – A 56,000 sq.ft. center located at the intersection of Palm Coast Parkway and Corporate Drive has spaces available from 2,001 sq.ft. to 3,500 sq.ft. Cotenants include Red Sun Japanese Steak & Sushi and China King. For details, contact Cyd Weeks, Palmcoasting.com Real Estate Corp., 389 Palm Coast Parkway Southwest, Suite 4, Palm Coast, FL 32137; 386-793-7302, Fax 432-7327302; Email: cydweeks@palmcoasting.com; Web site: www.palmcoasting.com.
Georgia Braselton – A center located at the intersection of Highway 53 and New Cut Road has spaces available from 801 sq.ft. to 2,000 sq.ft. Cotenants include Cork & Keg and Homecooking Café. For details, contact Tina Slaton, Waypoint Realty, 1589 Wyntercreek Court, Hoschton, GA 30548; 770-294-7003, Fax 770-8680735; Email: slatons@windstream.net. www.dealmakers.net
The
Dealmakers
(continued on page sixteen)
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page 15
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1,850 sq.ft. ground-floor space along with spaces of 1,300 sq.ft. to 1,400 sq.ft. on the second and third floors. The asking rent is $13 psf with CAM of $2 psf. Skowhegan – A center located on Main Street has a 7,500 sq.ft. space available. Cotenants include Family Dollar, Rent-A-Center, New Garden and Crazy Cousins. The asking annual rent is $5.50 psf with CAM and taxes of $1.50 psf. For details, contact Tasha Mazakas, Active Investments, 2540 Petaluma Avenue, Long Beach, CA 90815; 562881-0662, Fax 562-431-5742; Email: activeinvestments@verizon.net. Wells – Wells Plaza, a 94,027 sq.ft. strip center located on Route 1, has spaces available of 1,800 sq.ft. and 1,944 sq.ft. along with a 7,000 sq.ft. pad site. Five Star Cinemas, Dollar Tree, Reny’s and Pet Quarters anchor the center. Area retail includes Hannaford Bros. Area demographics include a population of 25,463 within seven miles earning $75,789 as the average
SENIOR LEASING POSITION Kin Properties, a national real estate company, in Boca Raton, FL owning over 800 single tenant retail and industrial properties comprising 30 million+ square feet throughout the USA, is looking to fill an in-house senior leasing position. The successful candidate must have a minimum 10-15 years experience with national and regional retail tenants; including the ability to analyze potential purchases. Please submit a resume with salary history to: info@kinproperties.com or fax (561)955-9921. Please, no phone calls.
Maine
New York
household income. For details, contact Dan Zelson, Charter Realty & Development Corp., 183 Main Street, Westport, CT 06880; 203-227-2922, Fax 203-227-8388; Email: dan@chartweb.com; Web site: www.chartweb.com.
For details, contact Fred Rosenberg and Robert Hadi, Sherwood Equities, 745 Fifth Avenue, New York, NY 10151; 212-980-8000 or 212-370-9805; Emails: frosenberg@sherwoodequities.com and rhadi@sherwoodequities.com.
New Jersey
Riverhead – A 108,000 sq.ft. center has spaces available from 2,001 sq.ft. to 3,500 sq.ft. Cotenants include HomeGoods, Staples, West Marine, Subway, Bethpage Federal Credit Union, Petland, Ultimate Fitness and B&B Furniture. For details, contact Fred Sabzevari, Royal of America Management, 1001 Sixth Avenue, 7th Floor, New York, NY 10018; 646-753-6610, Fax 212-768-0601; Email: fredroyalgroup@yahoo.com.
Clinton – Arrow Mill Plaza, a 54,000 sq.ft. strip center situated on seven acres at the intersection of Route 31 and Halsted Street, has spaces available of 10,000 sq.ft. and 47,000 sq.ft. Cotenants include RadioShack. Area retail includes ShopRite, Wal*Mart and T.J. Maxx. Area demographics include a population of 31,000 within five miles earning $120,000 as the average household income. Hamilton – Hamilton Center, a 17,000 sq.ft. strip center located on Route 33, has a 2,000 sq.ft. space available. Cotenants include AT&T Mobility and Fratelli. Area retail includes Acme, Staples, U.S. Postal Service and Ace Hardware. Area demographics include a population of 79,000 within three miles earning $75,000 as the average household income. Raritan – Raritan Crossing, a 63,000 sq.ft. strip center located at the intersection of Route 206 and Somerset Street, has a 5,000 sq.ft. space available. Cotenants include RadioShack. Area retail includes Walgreens and Stop & Shop. Area demographics include a population of 110,000 within five miles earning $74,000 as the average household income. Whitehouse – Station Center, a 30,000 sq.ft. strip center located at the intersection of Route 22 and Juniper Road, has spaces available of 1,400 sq.ft. and 1,800 sq.ft. Cotenants include McDonald’s, H&R Block and Readington Wine. Area retail includes Kings, Rite Aid and Walgreens. Area demographics include a population of 212,000 within 10 miles earning $120,000 as the average household income. The average daily traffic count is 36,000 vehicles. For details, contact Vincent Castagno, Net Property Group, 116 Route 22, North Plainfield, NJ 07060; 908-226-0123, Fax 908226-7426; Email: vcastagno@netproperties.us; Web site: www.netpropertygroup.com.
New York New York – A building located on Lexington Avenue between 40th Street and 41st Street has a 1,700 sq.ft. space available along with basement space. Area retail includes Ann Taylor Loft, GNC, Café Metro, ProHealth Pharmacy and Dunkin’ Donuts. The asking monthly rent is $23,500. page 16
March 27, 2009
The
Dealmakers
www.dealmakers.net
North Carolina Raleigh – A freestanding 10,624 sq.ft. former restaurant site has spaces available from 100 sq.ft. to 800 sq.ft. Area retail includes Wal*Mart. For details, contact Mark Segal, Center Management, 300 Park Street, Suite 410, Birmingham, MI 48009; 248549-0900, Fax 248-549-0990; Email: msegal@centermanagement.us.
North Dakota Fargo – A 95,000 sq.ft. center located on 13th Avenue between 45th Street Southwest and 44th Street Southwest, has a 14,500 sq.ft. former Hancock Fabrics site available. Hobby Lobby and Dollar Tree anchor the center. Area retail includes Kohl’s, Wal*Mart, Sam’s Club and Target. Area demographics include a population of 105,081 within five miles earning $64,826 as the average household income. For details, contact Tamkin Development Corp., 11755 Wilshire Boulevard, Suite 2350, Los Angeles, CA 90025; 310-575-9447, Fax 310-473-9250; Email: jay@tamkin.com; Web site: www.tamkin.com.
Oklahoma Enid – Varsity Square Shopping Center, a 110,000 sq.ft. center located at the intersection of U.S. Route 64 and 30th Street, has space available. Cotenants include Jumbo Foods, Dollar General, Central National Bank and Norma J’s. Also, Van Buren Square Shopping Center, a 70,000 sq.ft. center located at the intersection of U.S. Route 81 and Moore Street, has spaces (continued on page eighteen)
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available from 12,001 sq.ft. to 25,000 sq.ft. Cotenants include Dollar General and La Salsa Restaurant. Also, Mulberry Plaza Shopping Center, a 70,000 sq.ft. center located at the intersection of U.S. Route 81 and Mulberry Street, has spaces available from 6,001 sq.ft. to 12,000 sq.ft. Cotenants include Locke Supply, Dollar General and Sherwin Williams. For details, contact Brad Waken, Waken and Co. Realty, 1022 Hite Boulevard, Enid, OK 73703-7929; 580-237-5634, Fax 580-2333532; Email: wakenrealty@sbcglobal.net.
Pennsylvania Lancaster – Howard Johnson Retail Center, a 6,000 sq.ft. mixed-use strip center located on Route 30/Lincoln Highway East, has spaces available of 900 sq.ft. and 1,950 sq.ft. Cotenants include Domino’s Pizza. Area retail includes Wal*Mart and East Towne Centre. Area demographics include a population of 117,105 within five miles earning $57,917 as the average household income. The average daily traffic
Pennsylvania
Pennsylvania
count is 31,000 vehicles. The asking rent is $18 psf. Shrewsbury – Constitution Plaza, an 11,200 sq.ft. strip center situated on 1.65 acres at the intersection of Constitution Avenue and South Main Street, has a 1,400 sq.ft. space available along with two spaces of 2,800 sq.ft. Cotenants include Custom Blends, Shrewsbury Chiropractic and Papa John’s Pizza. Area demographics include a population of 26,897 within five miles earning $67,837 as the average household income. The average daily traffic count is 6,500 vehicles. The asking rent is $14 psf. Waynesboro – Waynesboro Plaza, a strip center located at the intersection of North Church Street and Route 997, has spaces available of 2,000 sq.ft. and 4,200 sq.ft. Area demographics include a population of 127,171 within five miles earning $57,619 as the average household income. The average daily traffic count is 5,300 vehicles. The asking rent is $12 psf. For details regarding the Lancaster property, contact Chad Stine, Coldwell Banker Commercial|Bennett Williams, 110 North George Street, York, PA 17401;
717-843-5555, Fax 717-843-5550; Email: cstine@bennettwilliams.com; Web site: www.bennettwilliams.com. For details regarding the Shrewsbury and Waynesboro properties, contact Bradley Rohrbaugh; Email: brohrbaugh@bennettwilliams.com.
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Texas Austin – An 18,000 sq.ft. single-tenant freestanding building is available. For details, contact Dan Appling, Development 2000, 510 West 15th, Austin, TX 78701; 512-617-4663; Email: dappling@development2000.com. Laredo – H.E.B. Shopping Center, a center located at the intersection of U.S. Highway 59/East Saunders Avenue and Bartlett Avenue, has spaces available of 5,000 sq.ft. and 9,000 sq.ft. H.E.B. Foods anchors the center. Area retail includes Big Lots. For details, contact Tamkin Development Corp., 11755 Wilshire boulevard, Suite 2350, Los Angeles, CA 90025; 310-575-9447, Fax 310-473-9250; Email: jay@tamkin.com; D M Web site: www.tamkin.com.
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Our Company owns 123 shopping center properties, of which more than 75% are anchored by supermarkets and/or drugstores with long leases. Our stabilized properties are 96% leased and we have no meaningful exposure to fashion, luxury, big box retailers, full-service department stores or other similar concepts in our portfolio.
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