Reporting The Nation’s Weekly News on Retailing & Retail Real Estate
Volume XXV No. XXVI
July 16, 2010
Retailers Expanding Throughout New England Stop & Shop Supermarkets Co. trades as Stop & Shop at 360 locations throughout CT, MA, NH, NJ, NY and RI. The supermarkets occupy spaces of 35,000 sq.ft. to 70,000 sq.ft. in freestanding locations, mixed-use and power centers and urban/downtown areas. Growth opportunities are sought throughout the existing markets, in addition to ME and VT, during the coming 18 months. Typical leases run 20 years. Preferred cotenants include home improvement and discount department stores. Preferred demographics include a population of 30,000 within two miles. For more information, contact Jim Sylvia, Stop & Shop Supermarkets Co., 1385 Hancock Street, Quincy, MA 02169; 617-770-8626, Fax 617770-6222; Web site: www.stopandshop.com. Verizon Wireless operates 2,400 locations nationwide. The electronics stores occupy spaces of 3,500 sq.ft. in freestanding locations and endcaps of shopping centers. Growth opportunities are sought throughout New England and upstate NY during the coming 18 months, with representation by Eastern Retail Properties. The company prefers to locate in areas with strong visibility and high traffic counts. For more information, contact Mike Hotarek, Eastern Retail Properties, 1 Gateway Center, Suite 611, Newton, MA 02458; 617-630-1187, Fax 617630-1190; Email: mhotarek@easternretail.com; Web sites: www.verizonwireless.com and www.easternretail.com.
Ulta, Inc. trades as Ulta at 340 locations nationwide throughout 38 states. The stores, offering beauty supplies, cosmetics and skin care items, as well as featuring a salon, occupy spaces of 10,000 sq.ft. in power centers. Growth opportunities are sought throughout the existing market during the coming 18 months. Preferred demographics include a trade-area population of 150,000 earning $75,000 as the average household income. For more information, contact Rick Franz, Ulta, Inc., 10575 North 114th Street, Suite 103, Scottsdale, AZ 85259; 480-344-7710; Email: rick.franz@ultainc.com, Web site: www.ulta.com. Running Room operates 100 locations throughout IA, MN and Canada. The stores, offering footwear and apparel, occupy spaces of 1,500 sq.ft. to 2,000 sq.ft. in freestanding locations and lifestyle, power, specialty and strip centers, in addition to urban/downtown areas. Growth opportunities are sought throughout the northern and midwestern regions of the U.S. and throughout Canada during the coming 18 months. For more information, contact Kevin Higa, Running Room, 9750 47th Avenue, Edmonton, Alberta, Canada T6E 5P3; 780439-3099 Ext. 229, Fax 780-433-6433; Email: khiga@runningroom.com; Web site: www.runningroom.com. (continued on page twenty-two)
This issue contains information on:
* Retailers operating 35,790 locations with plans to open 2,412 sites * Real estate valued in excess of $134.9 million to be bought, sold & financed * Leasing activity on over 4.4 million sq.ft. of retail properties
Important News Please Expedite
Postmaster: Periodical
Featuring ICSC New England Idea Exchange New Construction The Congress Group is developing a 400,000 sq.ft. mixed-use project in Sharon, MA................................. Pg. 3 Observations & Conversations Pg. 4 Profile|New England Retail Properties, Inc.......................... Pg. 6 Openings Rent-A-Center to open up to 35 company-owned stores............. Pg. 8 Electronic Express to open a 26,000 sq.ft. location in Murfreesboro, TN..................... Pg. 10 Buyers & Sellers Katz & Associates looks to acquire shopping centers throughout northeastern, southeastern and mid-Atlantic U.S........................ Pg. 11 Eastern Net Lease Advisors looks to acquire properties throughout New England.......... Pg. 11 Sources of Financing Spinnaker Real Estate Partners, LLC secured $77 million for a project in St. Louis, MO............ Pg. 14 In the News Linear Retail Properties promoted Deepa Krishnamurthy to CFO..................................... Pg. 14 Lead Sheet Easy Pickins seeking locations throughout NJ, NY and PA........ Pg. 15 Penzeys Spices to open locations throughout 24 states nationwide............................... Pg. 18 Exclusives Michael Salove Co. represents Tony Roni’s throughout select markets in NJ............................ Pg. 20 Lease Signings Coro Realty Advisors, LLC negotiated a lease with LA Fitness in Sandy Springs, GA.... Pg. 20 Food Retailers Expand Del’s Lemonade plans to open locations in CT......................... Pg. 21 Space Place.............................. Pg. 23
For more news go to: www.dealmakers.net Mobile Access Code: neidex2010
NOTHING FANCY IS GOOD BUSINESS IS GOOD BUSINESS
It’s as simple as bread and butter. At Cedar, we own, manage and operate Bread and Butter Shopping Centers® in key locations throughout the Northeast and Mid-Atlantic Coastal states. Anchored primarily by supermarkets with long-term leases, these properties boast quality, low-risk tenant bases. And with high occupancy rates that hold steady, they offer the predictable and strong cash flow that is a basic ingredient of business success.
Cedar Shopping CenterS, inC. DEvElOpErS, OwNErS AND MANAGErS
OF BrEAD AND BUTTEr SHOppING CENTErS® www.cedarshoppingcenters.com
New Construction Plus Management, LLC is preleasing a mixed-use development located along Broad Street in Richmond, VA. Spaces of 1,467 sq.ft.; 1,904 sq.ft. and 2,081 sq.ft. are available. Area demographics include a population of 218,634 within five miles earning $60,580 as the average household income. The project is slated to open during February 2011. For more information, contact Sean Eichert, Plus Management, LLC, 3610 Festival Park Plaza, Chester, VA 23831; 804-419-2295, Fax 804-425-9560; Email: seichert@plusmgt.com; Web site: www.plus-retail.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 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 086900630 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 2010 by TKO Real Estate Advisory Group Inc. 609-587-6200, fax 609-587-3511.
Urban Atlantic, with A&R Development Corp., is developing Rhode Island Station, a mixed-use, transit-oriented project situated on 8.5 acres in Washington, DC. The project includes a 274-unit multifamily component, a 70,000 sq.ft. retail component and a commuter garage. Area retail includes Home Depot and Giant Foods. The garage portion of the project is slated to open during the summer of 2011, with the retail and multifamily components following in the spring of 2012. For more information, contact Vicki Davis, Urban Atlantic Development, 7735 Old Georgetown Road, Suite 600, Bethesda, MD 20814; 301-280-6638, Fax 301-280-6639; Email: vdavis@urban-atlantic.com; Web site: www.urban-atlantic.com.
Gottesman Real Estate Partners is developing Sea Girt Square, a 53,000 sq.ft. project being constructed in phases at the intersection of Route 35 and Ocean Road in Sea Girt, NJ. Shop spaces from 1,200 sq.ft. are available. Area retail includes Gap, Talbots, Ann Taylor, Coldwater Creek, Banana Republic and Williams-Sonoma. Area demographics include a population of 129,758 within five miles. The first phase of the project is scheduled for completion in September, with the second phase to be completed by February 2011. For more information, contact Gottesman Real Estate Partners, 220 South Orange Avenue, Suite 103, Livingston, NJ 07039; 973-992-4952, Fax 973-992-8655; Web site: www.gottesmanrealestate.com.
Michael David & Co. is preleasing Channel Islands Center, a 140,000 sq.ft. strip center situated on 10 acres at the intersection of Channel Islands Boulevard and Ventura Road in Oxnard, CA. A 104,000 sq.ft. divisible anchor space is available. Area retail includes Island Plaza. Area demographics include a population of 220,000 within five miles earning $78,000 as the average household income. The average daily traffic count is 30,000 vehicles. The center is slated to open during the first quarter of 2011. For more information, contact David Gladstone, Michael David & Co., 300 Esplanade Drive, Suite 943, Oxnard, CA 93036; 805-981-3959; Email: dcglad1@earthlink.net.
Federal Realty is developing Assembly Square, a 50-acre mixed-use development located in Somerville, MA. The project will feature a 1.75 million sq.ft. office component, an 852,000 sq.ft. retail component and a 2,100-unit residential component. Shop spaces are available. For more information, contact Mike Kelleher or Lee Ann Klemyk, Federal Realty, 1626 East Jefferson Street, Rockville, MD 20852-4041; 617-684-1502/1508, Fax 301998-3700; Emails: mkelleher@federalrealty.com and lklemyk@federalrealty.com; Web site: www.federalrealty.com.
Jeffery Realty, Inc. is preleasing Middlesex Plaza, a 78,000 sq.ft. strip center located at the intersection of Route 28 and Green Brook Road in Middlesex, NJ. Dollar Tree, T-Mobile and Muscle Maker Grill will anchor the center. A 24,000 sq.ft. space is available. The center is slated to open during October. For more information, contact Shane Wierks, Jeffery Realty, Inc., 116 Route 22, North Plainfield, NJ 07060; 908-668-9600, Fax 908-668-5225; Email: swierks@jefferyrealty.com; Web site: www.jefferyrealty.com. Property Development Centers, a subsidiary of Safeway, Inc., is developing Lakeside at Canyon Park, a 150,000 sq.ft. retail project situated on 13 acres in the Canyon Park area of Bothell, WA. Safeway will anchor the center and shop spaces are available. The center is slated to open next year. For more information, contact Property Development Centers, 5918 Stoneridge Mall Road, Pleasanton, CA 94588, 925-467-3000, Fax 925-467-3323. www.dealmakers.net
The
The Congress Group, Inc. is developing Sharon Commons, a 400,000 sq.ft. mixeduse project located along Old Post Road in Sharon, MA. Shop spaces are available. Target and BJ’s Wholesale Club will anchor the center. The center is slated to open during March 2011. For more information, contact The Congress Group, Inc., 33 Arch Street, Suite 2100, Boston, MA 02110; 617-897-7200, Fax 617897-7201; Email: info@congressgroup.com; Web site: www.congressgroup.com. GulfCoast Commercial is preleasing a mixeduse center located at the intersection of Coronado Drive and 5th Street in Clearwater Beach, FL. A divisible 15,000 sq.ft. groundfloor space is available. The site features four parking decks. Area demographics include a population of 118,828 within a five-mile radius earning an average household income of $59,538. The center is slated to open during the fourth quarter of this year. For more information, contact Gulf Coast Commercial, 2552 22nd Avenue North, St. Petersburg, FL 33713; 727823-1605, Fax 727-897-9579; Web site: www.gulfcoastcommercial.net. DM
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July 16, 2010
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Observations & Conversations Big-box tenants are voicing concerns about not being able to find enough cheap deals or existing second-generation space to fill their projections for new store openings in 2011. Maybe these are signs that things are starting to get better! We survived ReCon in Vegas. The show was much better than I had anticipated. Around 30,000 dealmakers converged on Vegas again this year. I was worried that attendance would be light, but people started registering and the count went up by almost 5,000 just a few weeks before the convention. My meetings went extremely well and I had a few walk-ins that could prove worthwhile, plus I had a chance to catch up with some old friends. So I have no complaints, and considering the shift in the layout and opening day of the exhibit halls, there wasn’t too much heartache adjusting to the change. It only took us half a day to find a few thousand pounds of freight on the show floor during setup, but that’s par for the course based on my 29 years of exhibiting, so no worries – just a long wait without air conditioning. I do think more folks made a faster turnaround this year than in the past, with a large percentage flying in on Sunday and making a return flight Monday night or early Tuesday — there was little fluff and frivolity to this year’s convention.
Most of the brokers that I compared notes with at the convention are still kvetching that business is slow and that they are trying to do any kind of deal just to pay the bills. A number of landlords that I spoke with have some concerns about loans that are coming due in 2012 and 2013, but they’re hopeful that leasing will pick up and that it will be a non-issue once the day of reckoning rolls around. I also didn’t see as many resumes as I did last year. As usual, there were thousands of existing centers with space for lease being marketed at the show, but I did see more new construction projects hawked this year than in the past. Finally, finally I heard some good news at the show: more and more retailers are revving up for big growth with openings slated for 2012, and I met with big-box tenants voicing concerns about not being able to find enough cheap deals or existing second-generation space to fill their projections for new store openings in 2011. It’s about time that we start to see the demand for space outweigh the supply, at least on the big-box side of the equation. Maybe these are signs that things are starting to get better! Let’s hope that the back-to-school and Christmas seasons show an increase in sales, otherwise retailers will back off their projections again and we’ll be taking two steps back in our recovery process.
The ICSC did put together an excellent array of educational sessions, although I heard that there were a lot of empty chairs at the opening day luncheon with Sarah Palin as the keynote speaker. (I’m not a Palin fan by any means, so I didn’t listen her speak. However, I read tons of pans the following day from conservative to mainstream media, but what I found particularly interesting was a woman I met at the show, who said that before she saw Sarah speak she thought Palin might be a real political contender, but after watching her first-hand she changed her opinion. I was also relieved to hear that protestors outside the convention center were peaceful during her speech – God, I can’t imagine how imposing they would have been if she had shown up months after the oil spill now that the public has a better idea of the scope of this tragedy, rather than just weeks into the fiasco while we were still uninformed.) There also were less parties this year too, which is probably why I noticed fewer people with hangovers walking the floor. The mood on the show floor was no longer one of widespread panic, but it wasn’t one of euphoria either. I would describe a large percentage of the attendees as looking like war-weathered soldiers, and there was another notable group still dazed and confused, but all of us were happy to be working the floor, with enough optimism left to keep trying to make deals.
On a lighter note, we had our first Tweetup at the Vegas show, and so did half-a-dozen or so other exhibitors. For what we spent, to attract almost a hundred dealmakers and fans with an iPad giveaway, I think it was a worthwhile venture. Congrats to David J. Ricker of The City of Birmingham, Alabama for winning the iPad, and I hope you enjoy reading this issue on your new gadget. I talked to a few of the other exhibitors that gave this type of social media a try at the show to drum up walk-ins and reconnect with acquaintances, and they too felt that it’s a good way to get people in their booth. My hunch is that we’ll see more exhibitors using this method of marketing at the shows, since it’s an inexpensive way of getting attention.
One of the common issues that came up at several of my meetings during the convention – and I’m sure that I’m not alone – was finding cash for tenant fit outs and build-to-suits. The banks are too busy looking at what they already have on the books to focus on new business, but I did hear of a few construction loans going through. There was one situation that I’m aware of where a bank was holding a large construction escrow account and in danger of being taken over by the FDIC, which required the principals and the tenant to agree to move the funds to another bank (the only decision throughout the entire deal that got made quickly!). I still didn’t see much product for sale at the show, and a lot of what I did see was land for future development.
Be sure to stop by and see us in Boston. Close to 1,000 dealmakers are expected at the New England show, and I’m told the seafood is still safe to eat. If we miss you in Boston, then find us at the Florida Dealmaking in Kissimmee!
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Our next show is the New England Dealmaking, and we’ll be distributing this issue at the convention in Boston. Not only does this issue have a great profile of New England Retail Properties, Inc. and leads on chains looking for sites in the market, but we’ve also included our annual Retail Brokers Guide. The guide lists the top retail brokers in the country and provides their contact information, along with details on their expertise and clients. It’ll be good summer reading, plus maybe you’ll connect with some of our leads and make deals.
Until next week,
www.dealmakers.net
Ann O’Neal, Publisher
A national WOMEN’S specialty retailer.
The company operates more than 400 stores in 28 states. Dots three year growth plan includes opening new stores in all 28 states.
Site Criteria * Power centers, regional and community shopping centers with national tenants, deep discount anchors, dominant supermarket or discount apparel anchors * Targeting 4,000 to 5,000 square feet with a minimum 40 foot storefront
Demographic Profile * Metropolitan, urban and suburban markets * Typical trade area population of at least 75,000 * Median household income of $45,000 to $65,000
* More than 400 stores! * 28 states! Real Estate Contacts Kyle Koenig 440-349-7040 Director of Real Estate John Clark 440-349-7744 Director of Store Development Stephanie Griffith 440-424-2513 Regional Real Estate Manager
kkoenig@dots.com jclark@dots.com sgriffith@dots.com
www.dots.com
new england retail properties, Inc. Staying successful in troubled times
Profile — A monthly column featuring retailers and retail real estate companies
Adam Taliercio New England Retail Properties, Inc. was founded by Mark D’Addabbo, president and principal; and Matt Halprin, vice president and principal, in 1987. The company is a full-service commercial real estate firm operating primarily throughout CT, western MA and RI, as well as ME, NH, VT and eastern NY, and represents over four million sq.ft. of projects throughout the region. “We’re a hard negotiator with a strong reputation, a lot of good relationships and a lot of success stories,” Halprin said of the company. “We’re very strong in promoting and presenting properties, and we get our word out through a lot of different avenues. We have 23 years of experience, and a tremendous support staff that gets us to the people we need to.” Real estate within certain parts of New England, such as the Boston, MA area, has remained relatively strong throughout the recession, Halprin said, and opportunities have also been readily available in areas throughout NH, VT and ME. Value retailers such as Dollar Tree, Family Dollar and Aldi have done particularly well, as have health and fitness tenants such as LA Fitness or Planet Fitness, all of which have been taking advantage of a decrease in rental rates. Still, he said, every town needs to be looked at differently; some areas within the region are still holding strong, while others have struggled, and the retail real estate vacancies within these markets are prolific. “I don’t think it’s any different in New England than anywhere else in the country,” Halprin said. “The tenants that inspire developments are all recreating themselves as far as size and concepts, to the extent that we’re seeing a lot of tenants looking at 30,000 sq.ft. when they only need 20,000 sq.ft. The anchor stores are retreating, and it slows down some of the proposed new developments.” He said that the company has been signing about 20% fewer leases than in previous years but has remained busy, particularly as smaller tenants such as day spas, computer repair shops and restaurant chains continue to look aggressively for space. Halprin added, however, that it has become particularly important to “get landlords on the right page with the economics.” Specifically, he explained, landlords often need to be convinced that the rent they were able to get years ago now has to be more in line with what tenants’ expectations are. “A lot of landlords are starting to realize they’ve been holding out for the last two years, and recently a reality check has set in. Now they’re saying, ‘Let’s make a deal.’” He said that use restrictions imposed by existing tenants can also make it more difficult to lease space within centers. Halprin cited the Copaco Center, a 450,000 sq.ft. center located in Bloomfield, CT, which has a 6,000 sq.ft. former Blockbuster Video space that has proven challenging to fill due to use restrictions by the existing tenancy. “There’s a CVS on the property, so we can’t do a health and beauty store,” he said as an example. The company’s focus has always remained on third-party leasing, but they also provide tenant representation for retailers such as Knowledge Learning Centers (throughout CT), Tractor Supply Co. (throughout CT, southeastern MA and RI), and El Campesino Mexican Restaurants, a chain just entering New England that operates under various trade names. New England Retail Properties is also the exclusive broker for 7-Eleven throughout CT (excluding Fairfield County) and western MA, and has handled about 30 deals for the chain of convenience stores during the past 15 years. Halprin said that representing a smaller number of retailers allows the company to give more attention to tenants that are consistently page 6
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growing, such as Tractor Supply Co. “We’ve done a lot of deals with them during the recession,” he said, “taking old Walmart and supermarket boxes, as well as developing new stores. We have our specific market to work on for them; we’ve been working with them for seven years, and they really haven’t missed a beat.” The company also provides market analysis services that can prove vital for retail clients, particularly when entering into the region for the first time. Halprin sited El Campesino as an example: “They called me from OH, wanting to open in CT and western MA. Our research tells us where every Mexican restaurant is, and the size of their locations, within a matter of two days or less. We have information there to go over with him, not to convince him one way or the or the other, but so that he knows where all his competition might be. We can do that pretty quickly, and that’s just a small example.” The company also provides information on traffic patterns, demographics, and distance between locations. Although New England Retail Properties has done a great deal of tenant work over the years, the brunt of their business – and, Halprin said, the best area of the industry for the company to operate within – remains the representation of property and making deals for landlords. “Tenants come and go,” he said. “One year they’re opening, the next year they’re not. If you’re a broker in New England, a tenant may have other opportunities in the Carolinas, or AZ, or FL that they want to take advantage of now. We’re better served to be representing vacancies and opportunities in the marketplace. Retail availability in shopping centers always seems to be there.” New England Retail Properties exclusively represents shopping centers valued at approximately $50 million that are for sale, and expects that number to grow to $100 million by the middle of next year. One of the company’s greatest success stories is Derry Meadows Shops, located in Derry, NH. Over a period of seven years, New England Retail Properties worked with the landlord and developer to bring approximately 200,000 sq.ft. of retail to the project, including tenants such as Dollar Tree and GameStop, as well as a supermarket, movie theater, health club and hair salon, and was able to sell the property for $32 million about three years ago. “We got it as the market was going up, leased it, and sold it at the peak,” Halprin said of the project. The company has also been exclusively leasing Putnam Bridge Plaza, a 350,000 sq.ft. center located in East Hartford and Glastonbury, CT, since 1992, and now only has a 40,000 sq.ft. space – part of a former Ames box – left in the center to lease. Over the years, the company was able to add Home Depot, Staples, CVS, Dunkin’ Donuts, PetSmart, T.J. Maxx and iParty, among others, to the project. “It’s interesting how all these deals we’ve done over the last 15 years have all been virtually number one in their category,” he said. “Now we’re waiting for that last tenant to show up.” Halprin said that the space is suited for a furniture store, but added that furniture stores have not been doing well during the recession – and, in fact, may have been hit harder than most types of retail. As home building and residential sales increase over the coming years, he said, there should be more activity in that sector. “It’s a well-established area with great demographics,” Halprin said of the center, “and that’s one I’m pushing hard on right now.” Another recent success was the addition of a Red White & Blue, a national thrift store chain based in CA, to Colonial Plaza, located in Waterbury, CT. The deal was a difficult one to conclude, Halprin said, due to the need to convince the company that the Waterbury location was the best fit for their first store in New England among
www.dealmakers.net
(continued on page twenty-one)
Strength Experience Stability AmCap Inc., celebrating over 30 years with an impressive portfolio of highquality retail locations in vibrant markets throughout the United States.
www.AmCap.com Corporate Headquarters 1281 E Main Street Stamford, CT 06902 203-327-2001 www.AmCap.com
AmCap continues to seek stabilized neighborhood or community centers anchored by grocery and other national retailers. Acquisitions Jake Bisenius Chief Investment Officer bisenius@AmCap.com 203-327-2001
Regional Office/ Leasing 44 Cook Street, #710 Denver, CO 80206 303-321-1500 brokerage@AmCap.com
Who’s Opening and Where Smashburger Master, LLC (303-633-1500) plans to open over 60 Smashburger locations this year, as part of a plan to operate 100 units throughout 15 states nationwide by year’s end and 350 locations nationwide within the next five years. Plans call for expansion through franchisees into FL, KY, LA, ND and SD, including as many as 20 Smashburger restaurants with franchisee Smash Bash, LLC, to be opened throughout Orlando, FL over the next five years. The company also plans to open corporate-owned locations in the Atlanta, GA and Chicago, IL metropolitan areas. The company opened 15 restaurants during the first quarter of the year, and currently operates 58 locations throughout 14 states nationwide. Wal-Mart Stores, Inc. (479-273-4000) plans to open a 147,000 sq.ft. Walmart Supercenter at the intersection of Route 28 and Ashleigh Drive in Derry, NH. The store will replace an existing, 115,000 sq.ft. Walmart located along Manchester Road, which will close upon the opening of the new store. The company was in negotiations to open a location at the site during 2008, but dropped plans citing poor economic conditions. The new location will feature an expanded grocery section, including a delicatessen and bakery, and 30 general merchandise departments. The company operates 27 Walmart stores and four Sam’s Club locations throughout the state.
Marco’s Franchising, LLC (419-885-7000) plans to open 14 Marco’s Pizza restaurants throughout the northern suburban area of Atlanta, GA, as part of a plan to operate 60 locations throughout the Atlanta metropolitan area. Planned openings include sites in Acworth, Alpharetta, Blue Ridge, Canton, Cartersville, Cumming, Dahlonega, Dawsonville, East Cobb, Jasper, Kennesaw, Marietta and Woodstock, and will include both corporate-owned and franchised locations. The first opening is slated for this year. The company currently operates 200 locations throughout 17 states nationwide and the Bahamas. Five Below, Inc. (215-546-7909) plans to expand into the Columbus, OH area by year’s end, as part of a plan to open 40 Five Below stores this year, as well as to operate over 25 stores in the state within the next several years. The company recently opened six locations within the greater Cleveland, OH area during June, and currently operates 105 locations nationwide throughout 12 states. The stores offer merchandise priced between $1 and $5 aimed at teens and preteens and including fashion accessories, DVDs, video games and accessories, sport and workout gear, games and toys, cosmetics, school supplies, crafts and seasonal items.
Jamba, Inc. (510-596-0100), through franchisee Creative Food Group, will open a Jamba Juice location at New York Penn Station in New York, NY. The company recently opened locations at Brunswick Square Mall in East Brunswick, NJ; in Newark Airport in Newark, NJ, and at Newport Centre Mall in Jersey City, NJ. The company plans to open 50 franchised locations, as well as refranchise as many as 150 company-owned locations, by year’s end. The company operates 739 locations, including 478 corporate stores and 261 franchise locations, nationwide, offering fruit smoothies, juices, teas, oatmeal, wraps, salads, sandwiches, flatbreads, baked goods and snacks.
Cabela’s, Inc. (308-254-5505) will open a 100,000 sq.ft. Cabela’s store on 14 acres along North Central Expressway in Allen, TX. The sporting goods store is slated to open by August of 2011, and will be the company’s third in the state. The company also plans to open a 58,000 sq.ft. location in a former Ashley Furniture site at Gateway Mall, located along Gateway Street in Springfield, OR. The store will anchor the center, the company’s first in the state, and will use the company’s new layout, featuring an aquarium and conservation-themed wildlife displays. The store will also feature a gun library, fly-fishing shop and a general store. Construction is slated to begin next month, and the store will open during spring 2011. The company currently operates 30 locations nationwide.
Nordstrom, Inc. (206-628-2111) will open a 33,200 sq.ft. Nordstrom Rack location at The Corner, located at the intersection of North Oracle Road and Wetmore Road in Tucson, AZ, as part of a plan to open 17 stores this year. The store will join Total Wine & More at the center. The company also plans to open six Nordstrom Rack locations during 2011. The company operates 190 locations nationwide throughout 28 states, including 74 Nordstrom Rack stores.
CVS Caremark Corp. (877-265-7325) plans to open a 13,225 sq.ft. CVS pharmacy on 1.5 acres at a former Big Lots site located at the intersection of South Green Bay Road and Winneconne Avenue in Neenah, WI. The store will include a drive-thru pharmacy window as well as a photo lab, and will also offer health care products, groceries and general merchandise. Construction is slated to begin during the fall, and the store is expected to open during spring 2011.
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Safeway, Inc. (925-467-3000) will open a 57,740 sq.ft. Safeway grocery store situated on 8.6 acres along Palmer-Wasilla Highway in Palmer, AK. The store will replace an existing, smaller Safeway located across the street, and will feature muted lighting and spotlights, a larger deli department and an in-store Starbucks location. Construction on the new store began last month, and the location is slated to open during February 2011. The company currently operates 1,725 units throughout the western, southwestern, Rocky Mountain, midwestern and midAtlantic regions of the U.S., along with western Canada, under the Safeway, Vons, Dominick’s, Genuardi’s, Randalls, Tom Thumb, Pavilions and Carrs trade names. Macy’s, Inc. (513-579-7000) plans to open a 110,000 sq.ft. Macy’s department store in a former Gottschalks site at Antelope Valley Mall, located in Palmdale, CA. The store will offer apparel and accessories for women, men and children, as well as housewares, home textiles and luggage, and is slated to open during the fall. The company currently operates 850 locations nationwide throughout 45 states and Washington, DC, as well as Guam and Puerto Rico, trading as Macy’s and Bloomingdale’s. Bed Bath & Beyond, Inc. (516-507-3410) plans to open 60 stores across all their concepts, including 30 Bed Bath & Beyond stores, 10 Christmas Tree Shops locations and 20 buybuy Baby stores, having opened 67 stores during fiscal 2009. Planned openings include a 29,879 sq.ft. buybuy Baby at The Shops at Greenridge, located in Greenville, SC, slated to open during late fall. The store offers furniture, products, clothing and accessories for infants and toddlers. The company plans to eventually operate 1,300 Bed Bath & Beyond locations nationwide and throughout Canada. True Religion Apparel, Inc. (323-2663072) plans to open 27 True Religion stores nationwide during 2010, as well as internationally throughout Tokyo, Japan; London, England and Toronto, Canada. The company opened six locations during the first quarter, including five full-priced locations and one outlet store. Rent-A-Center, Inc. (972-801-1100) plans to open between 25 and 35 company-owned Rent-A-Center locations during fiscal 2010, as well as add financial services to approximately 70 existing stores. The company currently operates 2,997 locations, offering rent-toown merchandise, nationwide. (continued on page ten)
Buyers and Sellers Calkain Cos., Inc. is selling a 13,225 sq.ft. CVS site located in Alcoa, TN. The tenant is bound to a NN lease set to expire during January 2034. The asking price is $3.583 million with a Cap rate of 7.75%. The company is also selling a 10,181 sq.ft. CVS site located in Washington, DC. The tenant is bound to a NNN ground lease set to expire during January 2035. The asking price is $4.23 million with a Cap rate of 6.5%. The company is also selling a 9,014 sq.ft. Dollar General site located in Parkton, NC. The tenant is bound to a NN lease set to expire during March 2025. The asking price is $870,000 with a Cap rate of 8.5%. The company is also selling a 9,100 sq.ft. Dollar General site located in Petersburg, VA. The tenant is bound to a NN lease set to expire during April 2025. The asking price is $983,550 with a Cap rate of 8.25%. The company is also selling a Dollar General site located in Point Pleasant, WV. The tenant is bound to a 10-year lease set to expire during February 2011 featuring three, five-year options with annual rent increases of $3,000 at each option. The NOI is $63,177. The asking price is $675,000 with a Cap rate of 9.36%. For more information, contact Calkain Cos., Inc., 11150 Sunset Hills Road, Suite 300, Reston, VA 20190; 703-787-4714, Fax 703-787-4783; Web site: www.calkain.com. Neal Realty & Investments, Inc. is selling Federal Plaza, a 17,285 sq.ft. neighborhood shopping center located along North Federal Highway in Ft. Lauderdale, FL. Tenants include Big Wheel Cycles, Alf’s Golf Shop, California Burgers and International Dry Cleaners. Area demographics include a population of 116,954 within three miles earning $70,298 as the average household income. The average daily traffic count is 47,000 vehicles. The asking price is $4.3 million. The company is also selling San Francisco Shopping Center, a 9,228 sq.ft. neighborhood shopping center located along Northeast 6th Avenue in North Miami Beach, FL. The center is 100% leased with tenants including Rainbow Food Market, Nelly’s Restaurant and La Isla Café. Area retail includes Toys “R” Us and Bally Total Fitness. Area demographics include a population of 189,468 within three miles earning $57,474 as the average household income. The average daily traffic count is 27,000 vehicles. The asking price is $1.6 million. For more information, contact Timothy Neal, Neal Realty & Investments, Inc., 3300 North Federal Highway, Suite 250, Ft. Lauderdale, FL 33306; 954-568-0530; Email: tim@nealrealty.net; Web site: www.nealrealty.net.
NAI Avant is selling a 6,000 sq.ft. freestanding building situated on 0.76 acres along U.S. Highway 17/North Bridge Street in Washington, NC. West Marine tenants the site and is bound to a lease slated to expire during March 2015. The NOI is $68,200. The asking price is $649,000 within a Cap rate of 10.5%. The company is also selling Hickory Village Shopping Center, a 51,464 sq.ft. center located at the intersection of NC Highway 127/North Center Street and 25th Avenue Northwest in Hickory, NC. The center is 100% leased with tenants including Food Lion, Dollar General and McDonald’s. The average daily traffic count is 32,000 vehicles. The NOI is $228,855. The asking price is $2.6 million. The company is also selling Down East Trading Post, a 31,000 sq.ft. center situated on 5.3 acres at the intersection of Live Oaks Street and Professional Park Drive in Beaufort, NC. The center is 100% leased with tenants including Food Lion and H&R Block. The NOI is $194,500. The asking price is $2.35 million with a Cap rate of 8.3%. For more information, contact Victor John, NAI Avant; 803-744-9828; Email: bjohn@naiavant.com; Web site: www.naiavant.com.
Signature Associates negotiated the sale of a 22,900 sq.ft. space located along Common Road in Warren, MI. The company represented the buyer, De La Salle Collegiate High School, and the seller, YMCA of Detroit, in the transaction. The company also negotiated the sale of a 4,000 sq.ft. space located along Van Dyke in Warren, MI. The company represented the buyer, Cordaro Properties, LLC, and the seller in the transaction. The company also negotiated the sale of a 3,199 sq.ft. space located along Harper Avenue in St. Clair Shores, MI. The company represented the buyer, Harper Retail, LLC, and the seller, C.C.A., in the transaction. For more information regarding the 22,900 sq.ft. space, contact Viktor Gjonaj, Joe Hamway or Steve Gordon, Signature Associates, One Towne Square, Suite 1200, Southfield, MI 48076; 248-359-3832/0113/0101; Emails: vgjonaj@signatureassociates.com, jhamway@signatureassociates.com and sgordon@signatureassociates.com. For more information regarding the 3,199 sq.ft. property, contact Louis Ciotti or Joe Hamway. For more information regarding the 4,101 sq.ft. property, contact Louis Ciotti or Steve Gordon.
Cassidy Turley Capital Markets Group is selling La Plata Plaza North, a 30,600 sq.ft. center located along Shining Willow Way in La Plata, MD, as well as a 0.6-acre development parcel. The center is 100% leased with tenants including Panera Bread, Petco, CitiFinancial, FedEx Office, Three Brothers Italian Restaurant and Cellular Connections. Area retail includes Target, Safeway, Walmart, Food Lion, Lowe’s Home Improvement and Giant. Area demographics include a trade-area population earning $100,000 as the average household income. The average daily traffic count is 41,283 vehicles. For more information, contact Jonathan M. Carpenter, James S. Wellschlager or Philip C. Iglehart, Cassidy Turley – Baltimore, 100 Light Street, Suite 1400, Baltimore, MD 21202; 410-347-7543/7534/7566; Emails: jonathan.carpenter@cassidyturley.com, james.wellschlager@cassidyturley.com and philip.iglehart@cassidyturley.com.
Levco Group, LLC is selling a 22,250 sq.ft. freestanding former grocery store located along East 103rd Street in Chicago, IL. Area retail includes Walgreens, AutoZone, Chase Bank and Walmart. The asking price is $1.25 million. For more information, contact Josh Levy, Levco Group, LLC, 1344 North Sutton Place, Chicago, IL 60610; 312-925-8366; Email: levcogroupllc@gmail.com; Web site: www.thelevcogroup.com.
Great American Brokerage, Inc. is selling a restaurant site located along Broadway in Hewlett, NY. The asking price is $295,000. For more information, contact Paul Fetscher, Great American Brokerage, Inc., 100 West Park Avenue, Suite 309, Long Beach, NY 11561; 516-889-7200, Fax 516889-5113; Email: gtamerican@aol.com; Web site: www.restaurantexpert.com. www.dealmakers.net
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Taylor Long Properties negotiated the sale of a 2,800 sq.ft. former Burger King situated on one acre in Richmond, VA. The property was acquired for $585,000, and the company represented the buyer in the transaction. For more information, contact Michael Weisberg, Taylor Long Properties, 4701 Cox Road, Suite 108, Glen Allen, VA 23060; 804-864-9788, Fax 804-864-9789; Email: mikeweisberg@taylorlongproperties.com; Web site: www.taylorlongproperties.com. Seville Realty is looking to acquire properties located throughout Westchester, NY. For more information, contact Eileen Rivilis or Matt Wroclawski, Seville Realty, 2496 Central Avenue, Yonkers, NY 10710; 914-337-7300, Fax 914-337-5266; Email: erivilis@optonline.net.
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Who’s Opening and Where (continued from page eight)
bebe Stores, Inc. (415-715-3900) plans to open five bebe stores, one PH8 popup location and two 2b bebe stores. The company opened a location along Broadway in Manhattan, NY, during April. The company currently operates 298 stores, offering women’s apparel and accessories, nationwide and throughout the Virgin Islands, Puerto Rico and Canada, including 213 bebe locations, 34 2b bebe stores, 50 PH8 stores and one bebe Accessories location. The Kroger Co. (513-762-4000) plans to open a 78,000 sq.ft. Dillons Marketplace at the intersection of Harry Street and Edgemoor Street in Wichita, KS. The store replaces a smaller Dillons at the site. The location will include an expanded delicatessen section, an indoor/outdoor cafe dining area, a bakery and gasoline facilities. The store is slated to open during the fall. Dollar General Corp. (615-855-4000) will open a 9,000 sq.ft. Dollar General store along Highway 135 in Oak Grove Heights, AR. Construction on the site began during April, and the store is slated to open during September.
Advance Auto Parts (540-362-4911) plans to open a 6,425 sq.ft. Advance Auto location at Sedona Plaza, located along Westport Avenue in Norwalk, CT. The store will occupy part of a former CVS space and is slated to open during September. The store will join Rockbottom Furnishings & Flooring, Mutual Security Credit, ExecuNet, Finger Nail II, Wachovia and Swan Lake Cleaners at the center. Goodwill Industries International, Inc. (800-741-0186) plans to open a Goodwill Industries store in a former Home Valu location along Wayzata Boulevard in Minnetonka, MN. The store will offer donated clothes and household items. The store will be the company’s 20th in the state and is slated to open late this year or early 2011. Restoration Hardware, Inc. (415-9241005) will open an 8,000 sq.ft. Restoration Hardware showroom at Annapolis Towne Centre, a two million sq.ft. mixed-use center located in Annapolis, MD, during the summer. The opening will be the company’s first in a new prototype. The store will join Brooks Brothers and DesI Living Innovations at the center.
White Castle Management Co. (800-8432728) will open a White Castle restaurant at a former Backyard Burgers site located along Clark Lane in Columbia, MO, as part of a plan to open between eight and 10 restaurants annually. The quick-serve restaurant is slated to open during the fall. The company currently operates 421 locations nationwide. Electronic Express (615-259-2031) will open a 26,000 sq.ft. store in a former Goody’s site at Stones River Mall, located in Murfreesboro, TN. The store will replace an existing location in the area and is slated to open during late summer. The company currently operates 18 stores, offering electronics and appliances, throughout central TN. Forever 21, Inc. (213-741-5100) plans to open a 33,000 sq.ft. Forever 21 store at a former Saks Fifth Avenue site located along King Street in Charleston, SC. The Saks location will close this month, and Forever 21 is slated to open at the end of the year. The opening will be the company’s first in the state. The company currently operates 480 locations nationwide as well as throughout Canada, Puerto Rico, Korea and Japan.
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Buyers and Sellers (continued from page nine)
The Rotella Group, Inc. is selling a 23.63acre parcel located at the intersection of Hillsboro Boulevard and SR 7 in Coconut Creek, FL. Area retail includes Walmart Supercenter. Area demographics include a population of 99,866 within three miles earning $97,449 as the average household income. The average daily traffic count is 26,000 vehicles. The company is also selling a 2,180 sq.ft. freestanding building with a drive-thru situated on 0.4 acres along South Dixie Highway in Naranja, FL. Area demographics include a population of 71,205 within three miles earning $51,674 as the average household income. The average daily traffic count is 5,880 vehicles. For more information, contact Steve Miller, The Rotella Group, Inc., 3300 North Federal Highway, Suite 200, Ft. Lauderdale, FL 33306; 954-568-9015, Fax 954-568-9597; Email: steve@rotellagroup.com; Web site: www.rotellagroup.com. Titan Commercial, on behalf of a client, is looking to acquire single-tenant retail properties throughout AZ, CA, CO, NM, NV and TX. Suitable properties feature tenants bound to NN or NNN leases with at least 10 years remaining on the original lease term, and are priced reflecting a Cap rate above 8%. For more information, contact Justin Strauss, Titan Commercial, 2114 West Grant Road, Suite 10, Tucson, AZ 85745; 520-884-7100, Fax 520-842-2022; Email: jstrauss@titancre.com; Web site: www.titancommercialrealestate.com. Marcus & Millichap Real Estate Investment Services negotiated the $9.8 million sale of Del Amo Plaza, a 58,126 sq.ft. neighborhood shopping center located at the intersection of Pioneer Boulevard and Del Amo Boulevard in Cerritos, CA. At the time of sale, the center was 91% occupied with tenants including Starbucks, Bally Total Fitness and Quiznos. The company represented the seller in the transaction. For more information, contact Chris Maling or David Maling, Marcus & Millichap Real Estate Investment Services, 2999 Oak Road, Suite 210, Walnut Creek, CA 94597; 213-943-1800; Web site: www.marcusmillichap.com. Zifkin Realty Group, LLC is selling parcels of 0.56 acres, 1.04 acres and 1.16 acres located in Round Lakes, IL. For more information, contact Sarah Moberg, Zifkin Realty Group, LLC, 560 West Washington Boulevard, Suite 330, Chicago, IL 60661; 312-624-7784.
Jones Real Estate is selling a 70,000 sq.ft. freestanding building situated on six acres along East Imperial Highway in La Habra, CA. Area demographics include a population of 308,821 within five miles earning $85,111 as the average household income. The average daily traffic count is 49,000 vehicles. The asking price is $9.25 million. For more information, contact Greg Jones, Jones Real Estate, 404 West Whittier Boulevard, La Habra, CA 90631; 562697-3333, Fax 562-697-9999; Email: greg@jonesre.net; Web site: www.jonesre.net. Katz & Associates, on behalf of a client, is looking to acquire grocery-anchored and unanchored shopping centers throughout the northeastern, southeastern and mid-Atlantic regions of the U.S. Suitable properties feature expansion or redevelopment opportunities and are priced reflecting a Cap rate above 9%. The company will also consider freestanding locations and pad sites. For more information, contact Kevin M. Higgins, Katz & Associates, 2000 Glades Road, Suite 206, Boca Raton, FL 33431; 561-361-7232, Fax 561-361-7276; Email: kevinhiggins@dkatz.com. NAI Friedland Realty negotiated the sale of a 6,000 sq.ft. retail space located along South 4th Avenue in Mt. Vernon, NY. A private buyer acquired the property from Family Service Society of Yonkers for $1.5 million. The company represented the buyer and the seller in the transaction. For more information, contact Robin Herko, Steve Lorenzo or David Scotto, NAI Friedland Realty, 656 Central Park Avenue, Yonkers, NY 10704; 914-968-8500; Web site: www.friedlandrealty.com. Prudential Showcase Properties is selling a 3.5-acre parcel located in Dothan, AL. Area retail includes Publix. The asking price is $1.59 million. For more information, contact Susan Morrison, Prudential Showcase Properties, 1133 West Main Street, Dothan, AL 36301; 334-333-8981, Fax 331-702-7979; Email: morrprudent1@aol.com; Web site: www.susanlovesland.com. Corporate Investment Realty is selling a 5,000 sq.ft. freestanding restaurant situated on 3.9 acres in Charles County, MD. The NOI is $350,000. The asking price is $2.1 million. For more information, contact Mike Elam, Corporate Investment Realty, 14900 Sweitzer Lane, Laurel, MD 20707; 301572-6000 Ext. 307, Fax 301-356-9097; Email: melam@ciworldwide.com; Web site: www.ciworldwide.com. www.dealmakers.net
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Corporate Commercial Realty, LLC is selling a retail property located along South Side Sunrise Highway between TR 231 and Higbie Lane in West Islip, NY. The asking price is $1.5 million. For more information, contact Harvey Kolin, Corporate Commercial Realty, LLC, 150 Broad Hollow Road, Melville, NY 11747; 631-300-5145, Fax 631-629-4876; Email: harvey@hkolin.com; Web site: www.corporatecommercialrealty.com. Eastern Net Lease Advisors is looking to acquire net-leased single-tenant properties and freestanding buildings located throughout New England. Suitable properties are fully leased and priced between $1 million and $5 million with Cap rates above 7.5%. The company will also consider sites with tenants bound to ground or short-term leases. For more information, contact Michael O’Mara, Eastern Net Lease Advisors, 21 Oak Street, Medway, MA 02053; 617-549-5154; Email: mike@eastern1031.net; Web site: www.eastern1031.net. Prudential Commercial Real Estate is selling a 170,000 sq.ft. community shopping center located in Hamilton, OH. Tenants include Dollar Tree and Golden Dragon with Wendy’s, CVS, O’Reilly’s Auto Parts and Pizza Hut occupying outlots. The asking price is $3.2 million. For more information, contact Lauri Sullivan, Prudential Commercial Real Estate, 5949 Kenwood Road, Cincinnati, OH 45243; 513-604-1414, Fax 513-297-2552; Email: lsullivan777@fuse.net. CB Richard Ellis negotiated the sale of Rivertowne Mall, a 69,336 sq.ft. center situated on 5.58 acres along Riverside Drive in Austin, TX. A local investment partnership acquired the property. The company represented the seller in the transaction. For more information, contact Walter Saad, Cathy Nabours and Eric DeJernett, CB Richard Ellis, 100 Congress Avenue, Suite 500, Austin, TX 78701; 512499-4925/4917 and 512-482-5504; Emails: walter.saad@cbre.com, cathy.nabours@cbre.com and eric.dejernett@cbre.com; Web site: D www.cbre.com. M
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Who’s Opening and Where (continued from page ten)
Staples, Inc. (508-253-5000) will open a 20,000 sq.ft. Staples store along West 78th Street in Bloomington, MN. The store is slated to open late next month and will be the company’s fifth in the Twin Cities area. The company currently operates 1,871 office supply stores nationwide and throughout Canada. Hennes & Mauritz AB (212-564-9922) plans to open a 21,000 sq.ft. H&M store at Tucson Mall, located in Tucson, AZ. The store offers trendy fashions for men, women and children.
Unlimited Furniture (718-965-1340) plans to open two to three licensed stores this year, as well as an additional five to ten during 2011. The company offers bedroom, dining room and home entertainment furniture, as well as mattresses, and also wholesales product to other furniture retailers. Tapper’s Diamonds & Fine Jewelry (800337-4438) plans to open a 5,600 sq.ft. jewelry store at Somerset Collection North, located in Troy, MI. The opening will be the company’s third location, offering designer jewelry items. The store is slated to open during early September.
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Saks, Inc. (212-940-5305) plans to open a Saks Fifth Avenue OFF 5th location at Bridgeport Village, located in Tualatin, OR, during September. The store will be the company’s 12th in the concept and its first in the Pacific Northwest. The company also plans to open OFF 5th stores at Houston Premium Outlets in Cypress, TX and at Tanger Outlet Center of the Piedmont in Mebane, NC. Both stores are slated to open during November. The company recently opened a location at Tanger Factory Outlets, located in Washington, PA, during May. Trader Joe’s Co. (626-599-3700) plans to open a 13,000 sq.ft. Trader Joe’s grocery store at One Pacific Place, located at the intersection of 103rd Street and Pacific Street in Omaha, NE. The store will be the company’s first in the area and is slated to open this year. The company currently operates 330 locations, offering domestic and imported foods and beverages, including more than 1,000 items under the company’s private label, throughout 25 states nationwide. Orianne Collins (+41 22 990 95 00) is slated to open a 3,400 sq.ft. two-story jewelry store along Madison Avenue in New York, NY. The store will be the company’s first in the U.S., and will feature fine jewelry and watches and lifestyle items such as cosmetics, art pieces, televisions, laptops, books and music, as well as contemporary furniture. The store will also feature a champagne bar, and is scheduled to open during the fall. Menard, Inc. (715-876-5911) is slated to open a Menards home improvement store in a former Sears at the site of the former Northland Mall in Columbus, OH. The store is currently under construction and slated to open during spring of 2011. The company initially planned to open the location last year, but scrapped plans due to the poor economy. Wakefern Food Corp. (908-527-3300) will open a 55,000 sq.ft. ShopRite supermarket at a planned six-acre mixeduse development located in the Admiral’s Row area of the Brooklyn Navy Yard in Brooklyn, NY. Construction is slated to begin during late 2011, and the site will also feature an additional 30,000 sq.ft. retail component along with a 125,000 sq.ft. industrial component. The Cheesecake Factory, Inc. (818-8713000) plans to open one Cheesecake Factory restaurant during the second half of this year, having opened two restaurants during the first quarter. DM
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Food Retailers Expand Nationwide Focus Brands trades as Cinnabon at 775 locations nationwide and internationally. The shops, offering fresh cinnamon rolls, baked goods and specialty beverages, occupy spaces of 200 sq.ft. to 800 sq.ft. in entertainment centers and regional malls. Plans call for 40 openings nationwide during the coming 18 months. Typical leases run 10 years. A vanilla shell and specific improvements are required. Preferred cotenants include Sears and JCPenney. Preferred demographics include a population of 50,000 within two miles earning $65,000 as the average household income. The company is franchising. The company also trades as Schlotzsky’s Deli at 360 locations nationwide and internationally. The fast-casual restaurants, offering toasted sandwiches, pizzas, salads and soups, occupy spaces of 2,400 sq.ft. to 3,200 sq.ft. in urban/downtown areas. Plans call for 40 openings throughout the central, southeastern and southwestern regions of the U.S. during the coming 18 months. Typical leases run 10 years. A vanilla shell and specific improvements are required. Preferred cotenants include national retailers. Major competitors include Panera Bread, Quiznos, Jason’s Deli and Potbelly Sandwich Works. Preferred demographics include a population of 30,000 within two miles earning $50,000 as the average household income. The company is franchising. The company also trades as Moe’s Southwest Grill at 400 locations nationwide and internationally. The fast-casual southwestern/ Mexican restaurants, offering burritos, tacos, quesadillas, nachos, salads and fajitas, occupy spaces of 2,200 sq.ft. to 2,800 sq.ft. in power centers and urban/downtown areas. Plans call for 60 openings throughout the mid-Atlantic, northeastern and southeastern regions of the U.S. during the coming 18 months. Typical leases run 10 years. A vanilla shell and specific improvements are required. Preferred cotenants include national retailers. Major competitors include Baja Fresh, Chipotle and Qdoba Mexican Grill. Preferred demographics include a population of 30,000 within two miles earning $55,000 as the average household income. The company is franchising. For more information, contact Mark Whittle, Focus Brands, 200 Glenridge Point Parkway, Atlanta, GA 30342; 404-257-7040, Fax 888649-5027; Email: mwhittle@focusbrands.com; Web sites: www.focusbrands.com and www.moes.com. Chicago Bread trades as Panera Bread at 35 locations throughout the collar counties of Chicago, IL. The fast-casual restaurants, offering sandwiches, soups, salads and dessert items, occupy spaces of 3,600 sq.ft.
to 4,500 sq.ft. in endcaps of shopping centers. Growth opportunities are sought throughout the existing markets, excluding Cook and DuPage counties, during the coming 18 months, with representation by Newmark Knight Frank. The company requires sites located at least three miles from existing units, and prefers sites with a drive-thru. Andy’s Frozen Custard operates 16 locations throughout AR, IL, MO and TX. The shops, offering ice cream, malts, shakes and sodas, occupy spaces of 2,000 sq.ft. in freestanding locations. Growth opportunities are sought throughout the Chicago, IL metropolitan area during the coming 18 months, with representation by Newmark Knight Frank. A land area of 25,000 sq.ft. is required for freestanding locations. The company prefers walk-up locations in urban areas, and sites with a drivethru in suburban areas. Sites located on high-traffic arterials within close proximity to schools are preferred. For more information, contact William Selonick, Newmark Knight Frank, One East Wacker Drive, Suite 3500, Chicago, IL 60601; 312-386-3114; Email: wselonick@newmarkkf.com; Web site: www.panerabread.com. For additional information regarding Chicago Bread, contact Shanna Athas; Email: sathas@newmarkkf.com. Buffalo Wild Wings operates 600 locations nationwide throughout 40 states. The restaurants occupy spaces of 6,000 sq.ft. in entertainment centers. Growth opportunities are sought throughout select markets within Orange County and the Inland Empire area of CA during the coming 18 months, with representation by Strategic Retail Advisors. Expansion is franchise-driven. Panda Express operates 1,263 locations nationwide. The Chinese restaurants occupy spaces of 2,000 sq.ft. in endcaps of shopping centers. Growth opportunities are sought throughout Orange County, CA during the coming 18 months, with representation by Strategic Retail Advisors. Panda Inn operates six locations throughout Los Angeles, Orange and San Bernardino counties in CA. The Chinese restaurants occupy spaces of 7,000 sq.ft. in freestanding locations and power centers. Growth opportunities are sought throughout Orange County, CA during the coming 18 months, with representation by Strategic Retail Advisors. The company prefers sites with a strong daytime population. For more information, contact Jeff Reenders, Strategic Retail Advisors, 3990 Westerly Place, Suite 230, Newport Beach, CA 92660; 949-640-6678, Fax 949-7488088; Email: jeff@strategicretailadvisor.com; Web site: www.strategicretailadvisor.com. www.dealmakers.net
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Thunder Jackson’s operates one location in New York, NY. The restaurant and bar prefers to occupy spaces of 3,000 sq.ft. in downtown areas. Growth opportunities are sought throughout northern VA and Washington, DC during the coming 18 months, with representation by Grubb & Ellis Co. Max’s Wine Dive operates two locations in Austin and Houston, TX. The gourmet comfort food restaurants occupy spaces of 3,000 sq.ft. to 4,500 sq.ft. in freestanding locations. Growth opportunities are sought throughout Montgomery County and northern VA during the coming 18 months, with representation by Grubb & Ellis Co. For more information, contact Edward Goldmeier, Matthew Cooper or Glenn Ulick, Grubb & Ellis Co., 20 South Charles Street, Suite 902, Baltimore, MD 21201; 410-625-4202/4207/4205; Emails: edward.goldmeier@grubb-ellis.com, matthew.cooper@grubb-ellis.com and glenn.ulick@grubb-ellis.com; Web site: www.grubb-ellis.com. Exline, Inc. trades as Exline’s – Best Pizza in Town at 12 locations throughout MS and TN. The pizzerias occupy spaces of 1,000 sq.ft. to 3,000 sq.ft. in freestanding locations. Growth opportunities are sought throughout the existing markets during the coming 18 months. For more information, contact Joyce Miller, Exline, Inc., 2935 Austin Peay Highway, Memphis, TN 38128; 901-388-3044, Fax 901383-2039; Web site: www.exlinespizza.com. Erik’s DeliCafe Franchises, Inc. trades as Erik’s DeliCafe at 27 locations throughout CA. The restaurants, offering sandwiches, soups, salads and bakery items, occupy spaces of 1,800 sq.ft. to 2,400 sq.ft. in freestanding locations, urban/downtown areas and entertainment, power, specialty 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. Specific improvements are required. Preferred cotenants include Starbucks, Nordstrom and Macy’s. Major competitors include Togo’s, Panera Bread and Quiznos. Preferred demographics include a population of 100,000 within five miles earning between $60,000 and $100,000 as the average household income. The company is franchising. For more information, contact Tony Bendana, Erik’s DeliCafe Franchises, Inc., 365 Coral Street, Santa Cruz, CA 95060; 831-458-1818, Fax 831-458-9797; Web site: www.eriksdelicafe.com.
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Real Estate Professionals Making the News
Sources of Financing Spinnaker Real Estate Partners, LLC secured $77 million in financing for the redevelopment of an 11-story building with a 30,000 sq.ft. retail component located along Washington Avenue in St. Louis, MO. The funds were provided by Urban Action Community Development, LLC; National Trust for Historic Preservation; Morgan Stanley and Central Bank of Kansas City. For more information, contact Spinnaker Real Estate Partners, LLC, 20 Marshall Street, Suite 106, South Norwalk, CT 06854; 203354-1550, Fax 203-354-1551; Web site: www.spinrep.com. DM
Velocity Retail Group (602-682-6020) appointed Daniel Rice as executive managing director of the company’s retail sale/leaseback division. The recently-formed division will focus on big-box retailers, grocery and drug stores and restaurants. Prior to joining the company, Rice served at Sprint Finance. The company provides leasing and tenant representation, sale/leaseback solutions, consulting and development to tenants and owners of retail real estate throughout the southwestern U.S. Franklin Street Financial Partners (813251-2800) hired Monetha Cobb as a senior
ROCK SOLID &
GROWING STRONG ✓ ✓ ✓ ✓
GROWING STRONG… Over 4,500 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 4,250 stores in 48 U.S. states plus the District of Columbia & Puerto Rico and over 200 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 ©2010 AutoZone, Inc. All Rights Reserved. AutoZone and design are registered marks of AutoZone Parts, Inc.
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director of the company’s Real Estate Services division. Prior to joining the company, she served as a partner at the Shopping Center Group. The company also hired Sterling Hale as a retail sales associate. He will specialize in leasing and investment sales of retail centers and single-tenant, net-leased investments throughout the Southeast. Prior to joining the company, he operated Rogue Realty, Inc., a leasing and management company. The company also hired Michael Shadeed as a property and casualty insurance producer. He will assist owners and managers of industrial, commercial, retail and multifamily properties. Linear Retail Properties, LLC (781-2735665) promoted Deepa Krishnamurthy to chief financial officer. She joined the company in 2004 as a controller and was promoted to vice president in 2007. Prior to joining the company, she served as portfolio controller for Macfarlane Urban Realty Co. The company is a retail real estate firm focusing on the acquistion, operations and repositioning of convenience-oriented retail properties throughout eastern MA, southern ME, southern NH and RI. American Spectrum Realty, Inc. (713-7066200) hired G. Wayne Reyes as vice president of property management. He will oversee management operations for the company within the TX region. Prior to joining the company, Reyes served at Moody Rambin Interests. The company is a real estate investment firm that owns, manages and operates over 2.6 million sq.ft. of industrial and retail properties throughout AZ, CA, TX and the midwestern U.S. Stewart National Title Services (888-4882440) named Renee Haglund Tierney vice president and manager of its Minneapolis, MN national commercial operations. She will be responsible for serving the company’s national commercial business, with a focus on expanding the company’s market share throughout the midwestern region of the U.S. The company provides expertise in closing and underwriting for single and multistate commercial transactions for national and international customers. DM
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Lead Sheet Easy Pickins Joseph Tabush 450 7th Avenue, Suite 701 New York, NY 10123 212-695-4540, Fax 212-239-4735 Email: jt@easypickins.com Web site: www.easypickins.com
Apparel The 27-unit chain operates locations throughout NJ, NY and PA. The women’s apparel stores occupy spaces of 3,500 sq.ft. in malls, power and strip centers and urban/downtown areas. Growth opportunities are sought throughout the existing markets during the coming 18 months.
Formal Specialists, Ltd. dba Al’s Formal Wear Ellis Rushefsky 7807 Main Street Houston, TX 77030 713-796-7006, Fax 713-796-7123 Email: ellis.rushefsky@alsformalwear.com Web site: www.alsformalwear.com
Apparel The 100-unit chain operates locations throughout AR, CO, LA, MS, OK and TX. The men’s formal wear stores occupy spaces of 900 sq.ft. to 1,200 sq.ft. in malls and power centers. Growth opportunities are sought throughout the existing markets during the coming 18 months. Typical leases run five years with options. Preferred demographics include a population of 125,000 within five miles earning $45,000 as the median household income. The company will consider spaces of up to 1,500 sq.ft.
Hollidays Fashions Ron Devine c/o Results Realty, LLC 5803 Lee Highway, Suite 103 Chattanooga, TN 37421 423-280-5785 Email: resultseraltyre@comcast.net Web site: www.hollidaysfasions.com
Apparel The 30-unit chain operates locations throughout AL, AR, LA, MS and TN. The women’s apparel stores occupy spaces of 7,000 sq.ft. to 8,000 sq.ft. in strip centers. Growth opportunities are sought throughout the existing markets during the coming 18 months, with representation by Results Realty, LLC.
Hyman Family, LP dba Susie’s Deals Gail Jeffery 620 South Wanamaker Avenue Ontario, CA 91761 909-510-4800 Ext. 221, Fax 909-510-4803 Email: gjeffery@susiesdeals.com Web site: www.susiesdeals.com
Apparel The 90-unit chain operates locations throughout AZ, CA, NV and UT. The stores, offering family apparel and accessories, occupy spaces of 5,000 sq.ft. to 6,000 sq.ft. in strip and value centers. Growth opportunities are sought throughout CA during the coming 18 months. Typical leases run five years with two, five-year options. A vanilla shell and specific improvements are required. Preferred cotenants include Target, Walmart and grocery stores. Preferred demographics include a population of 100,000 within three miles earning $50,000 as the average household income.
Fabricland Distributors Lynn Smith 1450 Castlefield Avenue Toronto, Ontario, Canada M6M 1Y6 416-703-1877, Fax 416-504-9216 Email: lynns@westdaleproperties.com Web site: www.fabricland.ca
Arts/Crafts/Fabrics The 170-unit chain operates locations throughout Canada. The stores, offering fabric and sewing accessories, occupy spaces of 10,000 sq.ft. to 11,000 sq.ft. in freestanding locations and strip centers. Growth opportunities are sought throughout British Columbia and Ontario, Canada during the coming 18 months.
AKH Discount Tire Centers, Inc. dba Discount Tire Centers and Evans Tires Andy Andonian 1160 Anaheim Boulevard Anaheim, CA92801 714-861-9024, 714-899-4923 Web site: www.discounttirecenters.com
Automotive The 75-unit chain operates locations throughout southern CA. The automotive service centers occupy spaces of 5,000 sq.ft. in freestanding locations. Growth opportunities are sought throughout the existing market during the coming 18 months.
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Lead Sheet Belle Tire Kelly Esman c/o Kelly Esman & Associates 567 Chesterfield Avenue Burmingham, 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 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 during the coming 18 months, with representation by Kelly Esman & Associates. A land area of one acre is required. Preferred cotenants include Home Depot, Lowe’s Home Improvement and Walmart.
Belron Canada dba Speedy Glass, Lebeau D’Autos, DURO Vitres D’Autos, Apple Auto Glass, Standard AutoGlass and Novus Lena Marie Barras 8288 Pie-IX Boulevard Montreal, Quebec, Canada H1Z 3T6 514-593-7000, Fax 514-593-2210 Email: lbarras@belroncanada.com Web site: www.belroncanada.com
Automotive The 380-unit chain operates locations throughout Canada. The automotive service centers, offering windshield repair and replacement, auto glass and accessories, occupy spaces of 2,500 sq.ft. to 3,500 sq.ft. in freestanding locations and auto malls. Growth opportunities are sought throughout Burlington and Hamilton, Toronto and northern Vancouver and Victoria, British Columbia, Canada during the coming 18 months. Typical leases run five years.
EZ Lube, LLC dba EZ Lube Robert Grosse 3540 Howard Way, Suite 200 Costa Mesa, CA 92626 714-556-1312 Ext. 4144, Fax 714-556-1362 Email: robertg@ezlube.com Web site: www.ezlube.com
Automotive The 76-unit chain operates locations throughout southern CA. The automotive service centers occupy spaces of 2,800 sq.ft. to 5,000 sq.ft. in second-generation automotive service center locations. Limited growth opportunities are sought throughout the existing market during the coming 18 months. A land area of 12,500 sq.ft. to 20,000 sq.ft. is required.
Earl Scheib, Inc. dba Earl Scheib Fred Caminite 225 Broadway, 18th Floor San Diego, CA 92101 619-814-4545, Fax 619-687-5010 Web site: www.earlscheib.com
Automotive The 70-unit chain operates locations nationwide. The shops, offering auto body and paint services, occupy spaces of 4,000 sq.ft. to 6,000 sq.ft. in freestanding locations and regional and strip centers. Growth opportunities are sought throughout AZ, CA, NV and TX during the coming 18 months. Typical leases run five years with options. A vanilla shell is required. Preferred demographics include a population of 200,000 within five miles. A land area of 13,000 sq.ft. to 20,000 sq.ft. is required for freestanding locations.
Myron’s Cards & Gifts, Inc. dba Myron’s Hallmark and Evenson’s Hallmark Clayton Johnson 4653 Chatsworth Street Shoreview, MN 55126 651-482-8511, Fax 651-482-8680
Cards The 32-unit chain operates locations throughout IA, MN, SD and WI. The card and gift shops occupy spaces of 3,500 sq.ft. to 4,000 sq.ft. in malls and power and strip centers. Growth opportunities are sought throughout the existing markets during the coming 18 months. Typical leases run three years.
7-Eleven Canada, Inc. dba 7-Eleven Paul Jhooty 13450 102nd Avenue, Suite 2400 Surrey, British Columbia, Canada V3T 0C3 604-586-1615, Fax 604-586-1507 Email: paul.jhooty2@7-11.com Web site: www.7-Eleven.com
Convenience The 500-unit chain operates locations throughout Canada. The convenience stores occupy spaces of 2,000 sq.ft. to 3,000 sq.ft. in freestanding locations, as well as mixed-use and strip centers and downtown areas. Growth opportunities are sought throughout Alberta, British Columbia, Ontario and Winnipeg, Canada during the coming 18 months. Typical leases run 10 years with options. The company requires sites with suitable parking, high population density and strong traffic counts.
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Lead Sheet Kapoor Enterprises dba Bonfare Market Jag Kapoor 461 South Milipitas Boulevard, Suite 1 Milipitas, CA 95035 408-933-4422, Fax 408-933-4545
Convenience The 30-unit chain operates locations throughout CA. The convenience stores, with gasoline facilities, occupy spaces of 2,500 sq.ft. to 3,000 sq.ft. in freestanding locations and strip centers. Growth opportunities are sought throughout northern CA during the coming 18 months. Major competitors include 7-Eleven and Quickstop. The company is franchising.
Kwik Trip, Inc. dba Kwik Trip Scott Teigen 700 Wolske Bay Road, Suite 280 Menomonie, WI 54751 715-235-6626, Fax 715-235-7808 Email: steigen@kwiktrip.com Web site: www.kwiktrip.com
Convenience The 390-unit chain operates locations throughout IA, MN and WI. The convenience stores, with gasoline facilities, occupy spaces of 5,500 sq.ft. in freestanding locations. Growth opportunities are sought throughout the existing markets during the coming 18 months. A land area of 60,000 sq.ft. is required.
Gordman’s Stores Allan Murow c/o Noddle Cos. 2285 South 67th Street, Suite 250 Omaha, NE 68106 402-496-1616, Fax 402-496-6250 Email: amurow@noddlecompanies.com Web site: www.noddlecompanies.com
Department Store The 68-unit chain operates locations throughout AR, CO, IA, IL, IN, KS, KY, MN, MO, MS, ND, NE, OK, SD, TN and WI. The department stores, offering apparel, bedding and bath, furniture and kitchen items, as well as frames and home accents, occupy spaces of 50,000 sq.ft. in malls and power and strip centers. Growth opportunities are sought throughout the existing markets during the coming 18 months, with representation by Noddle Cos.
U.S. Cellular Corp. dba U.S. Cellular Glen Todd 8410 West Bryn Mawr Avenue Chicago, IL 60631 773-399-8922, Fax 773-399-4206 Email: glen.todd@uscelluar.com Web site: www.uscellular.com
Electronics The 450-unit chain operates locations nationwide. The electronics stores occupy spaces of 1,500 sq.ft. to 2,000 sq.ft. in rural markets and 2,000 sq.ft. to 3,000 sq.ft. in metropolitan markets using pad sites of anchored shopping centers. Growth opportunities are sought throughout select markets nationwide during the coming 18 months. Preferred demographics include a trade-area population of 25,000 in rural markets and 75,000 in metropolitan markets.
Fantastic Sams Jeff Reenders c/o Strategic Retail Advisors 3990 Westerly Place, Suite 230 Newport Beach, CA 92660 949-640-6678, Fax 949-748-8088 Email: jeff@strategicretailadvisor.com Web site: www.strategicretailadvisor.com
Hair The 1,300-unit chain operates locations nationwide. The hair salons occupy spaces of 1,000 sq.ft. to 1,200 sq.ft. in grocery-anchored shopping centers. Growth opportunities are sought throughout Orange, Inland Empire and San Bernardino counties in CA during the coming 18 months, with representation by Strategic Retail Advisors.
Sangsters Health Centres Wanda Wilson 2218 Hanselman Avenue Saskatoon, Saskatchewan, Canada S7L 6A4 306-653-4481, Fax 306-653-4688 Email: franchise@sangsters.com Web site: www.sangsters.com
Health The 45-unit chain operates locations throughout Canada. The stores, offering vitamins, herbs and sports supplements, occupy spaces of 500 sq.ft. to 1,000 sq.ft. in enclosed malls and 1,000 sq.ft. to 1,500 sq.ft. in power centers. Growth opportunities are sought throughout the existing market during the coming 18 months. Typical leases run five years with five-year options. Major competitors include GNC. 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 Furnishings The four-unit chain operates locations throughout IL. The shops, offering clocks and related services, 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.
Mattress Factory Bill Farkas c/o Jeffery Realty, Inc. 116 Route 22 East North Plainfield, NJ 07060 908-668-9600, Fax 908-668-5225 Email: bfarkas@jefferyrealty.com Web site: www.jefferyrealty.com
Home Furnishings The 15-unit chain operates locations throughout NJ and NY. The bedding stores occupy spaces of 3,000 sq.ft. to 5,000 sq.ft. in freestanding locations and power centers. Plans call for two to four openings throughout NJ during the coming 18 months, with representation by Jeffery Realty, Inc.
Empire Beauty Schools Edward Goldmeier, Matthew Cooper or Glenn Ulick c/o Grubb & Ellis Co. 20 South Charles Street, Suite 902 Baltimore, MD 21201 410-625-4202/4207/4205 Emails: edward.goldmeier@grubb-ellis.com, matthew.cooper@grubb-ellis.com and glenn.ulick@grubb-ellis.com Web site: www.grubb-ellis.com
Specialty The 100-unit chain operates locations throughout AZ, CO, FL, GA, IL, IN, KY, MA, MD, ME, MI, MN, NC, NJ, NY, PA, RI, TN, VA and WI. The beauty schools occupy spaces of 8,000 sq.ft. to 10,000 sq.ft. in endcaps of regional shopping areas. Growth opportunities are sought nationwide during the coming 18 months, with representation by Grubb & Ellis Co. The company prefers to locate in sites with prominent signage, ample parking and strong visibility.
Pennsylvania Liquor Control Board dba Wine & Spirits Shoppe Joseph Hannon Foster & Capital Street Room 216, Northwest Office Building Harrisburg, PA 17124 717-787-3016, Fax 717-705-6746 Web site: www.lcb.state.pa.us
Specialty The 619-unit chain operates locations throughout PA. The wine and spirits stores occupy spaces of 3,000 sq.ft. to 14,000 sq.ft. in freestanding locations and power and strip centers, as well as urban/downtown areas. Growth opportunities are sought throughout the existing market during the coming 18 months. Preferred cotenants include grocery stores and pharmacies. Specific improvements are required.
Penzeys Spices George Van Valkenburgh PO Box 924 Brookfield, WI 53008 262-785-7615, Fax 262-785-7678 Email: george@penzeys.com Web site: www.penzeys.com
Specialty The 50-unit chain operates locations throughout AL, AZ, CA, CO, CT, FL, IA, IL, IN, KS, MA, MD, MI, MN, MO, NE, NY, OH, OR, PA, TN, TX, VA and WI. The stores, offering spices and seasonings, occupy spaces of 2,500 sq.ft. to 3,500 sq.ft. in freestanding locations and specialty and strip centers. Growth opportunities are sought throughout the existing markets during the coming 18 months. Typical leases run three to five years with two, fiveyear options. A vanilla shell is required. Preferred cotenants include Barnes & Noble, Pier 1 Imports, Williams-Sonoma, Trader Joe’s and Whole Foods Market. Preferred demographics include a population of 250,000 within five miles.
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 18
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Exclusives and Leasing Assignments
Lease Signings
Atlantic Retail Properties (561-427-6699) has been named the exclusive leasing agent, on behalf of TA Associates, for Country Isles Plaza, a 106,000 sq.ft. neighborhood shopping center located at the intersection of Weston Road and Indian Trace in Broward County, FL. Publix, CVS and Ace Hardware anchor the center. Tenants include AmTrust Bank, GNC, Einstein Bros. Bagels, Pinnacle Cleaners, Fat Louis Pizzeria and Verizon Wireless. The company has also been named exclusive leasing agent for Pompano Marketplace, a 240,000 sq.ft. community shopping center located in Broward County, FL. Walmart Neighborhood Market, Staples, Jo-Ann Fabrics, Bealls Outlet and Stein Mart anchor the center. Tenants include Leslie’s Pool Supplies, Family Christian Stores and China Wok Restaurant. UCR San Antonio (210-979-9700) has been named the leasing agent for The Plaza at Concord Park, located at the intersection of Sonterra Boulevard and Sigma Road in San Antonio, TX. Tenants include Auden’s Kitchen, Kumori Sushi, Lion & Rose and Local Coffee. The average daily traffic count is 24,000 vehicles. Colliers Lanard & Axilbund (215-9287542) represents 7-Eleven with the chain’s expansion throughout southern NJ and the Philadelphia, PA metropolitan area. The convenience stores utilize spaces from 2,000 sq.ft. to 3,000 sq.ft. in freestanding locations, corner sites and endcaps of shopping centers. Zoning for a 24-hour operation is required, and the company prefers second-generation spaces. The Katsias Co. (757-490-3585) represents YNot Pizza & Italian Cuisine in the chain’s expansion throughout the Hampton Roads area of VA. The company was also named the exclusive sales and leasing agent for two mixed-use developments in VA owned by Roseland Property Co. Katz & Associates Corp. (845-735-6666) represents Saks Fifth Avenue OFF 5th with the chain’s expansion nationwide. The retailer, offering luxury fashion apparel, shoes, accessories, jewelry, cosmetics and gifts, utilizes spaces of 28,000 sq.ft. in lifestyle and strip centers and urban areas. Michael Salove Co. (215-568-2600 Ext. 18) represents Tony Roni’s with the chain’s expansion throughout Burlington, Camden and Gloucester counties in NJ, with a focus on Cherry Hill, Marlton, Mt. Laurel and Voorhees. The restaurants utilize spaces of 2,000 sq.ft. to 3,000 sq.ft. DM page 20
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Konover South, LLC (954-354-8282) signed a multi-year lease with Color Me Mine for 1,590 sq.ft. at The Plaza at Davie, a 275,000 sq.ft. retail center located at the intersection of Interstate 595 and Hiatus Road in Davie, FL. The tenant joins Winn-Dixie, Walgreens, U.S. Postal Service, Ruby Tuesday, McDonald’s, Petland, C2 Education, Diner 84, Everglades Gymnastics, Lefty’s Wings, Meg Segreto Dance Studio, Park’s Tae Kwan Do, Pincha-Penny, Pizza Hut, Rashawnrose Couture, Scoop of Heaven, Smiley Faces Academy, Studio Be Fit Pilates, Tandoor Indian Cuisine and Young at Art. NAI Friedland Realty, Inc. (914-968-8500) negotiated a lease with Celine NY for 1,000 sq.ft. along East Fordham Road in Bronx, NY. The company also negotiated a lease with a 99 cent discount store for 1,500 sq.ft. along St. Nicholas Avenue between 173rd Street and 174th Street in Manhattan, NY. The company represented both the landlord and the tenant in the transaction. Robert K. Futterman & Associates (212599-3700) negotiated a long-term lease with Haagen-Dazs for 1,824 sq.ft. along East 8th Street between Mercer Street and Green Street in New York, NY. The store will occupy 912 sq.ft. of ground-floor retail and 912 sq.ft. of lower-level space. The company, along with Baum Realty, represented the tenant in the transaction. Crosland, LLC (704-529-1166) negotiated the following leases at Rutland Commons, a 109,000 sq.ft. neighborhood shopping center located at the intersection of Chamberlayne Road and Atlee Road in Hanover County, VA: with Custom Blends for 561 sq.ft.; with The Ruby Slipper Boutique for 1,800 sq.ft.; with Sun Trust for 3,200 and with Marty’s Grill for 3,946 sq.ft. Charter Realty & Development Corp. (203227-2922) signed a lease with Pat Catan’s Craft Centers for 35,000 sq.ft. at Knox Village Square, a 207,409 sq.ft. shopping center located along Coshocton Avenue in Mt. Vernon, OH. The tenant joins JCPenney, Kmart and Peebles at the center. R.J. Waters & Associates, Inc. (610-3886600) negotiated a lease with Kyoto Asian Cuisine, Inc. for 4,500 sq.ft. at Shoppes at Dilworthtown Crossing, located at the intersection of Route 202 and Dilworthtown Road in Chester County, PA. The tenant joins Giant Food, CVS, Starbucks, Saladworks, AIM Mail Centers, Curves, GNC, AT&T Mobility, Old Havana Cigar Co., Bull Durham’s and National Penn Bank at the center.
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Trout Daniel & Associates (410-435-4004) negotiated the following leases at Montego Bay Shopping Center, a 70,000 sq.ft. shopping center located at the intersection of 128th Street and Coastal Highway in Ocean City, MD: with Bodacious Buckets for 1,200 sq.ft.; with Peninsula Rehab and Sports Medicine for 1,200 sq.ft., and with Dollar Tree for 9,500 sq.ft. The company also negotiated a lease expansion with Trible’s Appliance Parts for 7,650 sq.ft. Matanky Realty Group (312-337-1001) negotiated a two-year lease with Boutique Home for 1,268 sq.ft. along Mendell Street in Chicago, IL. The company also negotiated a five-year lease with Athlete’s Foot for 2,400 sq.ft. at The Grand Boulevard Plaza, located at the intersection of 47th Street and Interstate 94 in Chicago, IL. The company represented the tenant in the transaction. Divaris Real Estate, Inc. (757-497-2113) negotiated a lease with Best Buy for 32,958 sq.ft. at Harrisonburg Crossing, located in Harrisonburg, VA. The tenant joins Home Depot, Ross Dress for Less, Walmart, Barnes & Noble, Michaels, Staples and Bed Bath & Beyond. The company represented the tenant in the transaction. Taylor Long Properties (804-864-9788) signed a 10-year lease with Hibachi Grill & Supreme Buffet for 13,000 sq.ft. at Laburnum Park Shopping Center in Richmond, VA. The company represented the landlord, PCS Laburnum, LLC, in the transaction. Michael Salove Co. (215-568-2600) negotiated a lease with PureBread Deli for 2,560 sq.ft. at The Shoppes at Brinton Lake, located at the intersection of Route 1 and Brinton Lake Road in Glen Mills, PA. The tenant joins Anthropologie, Fresh Market, P.F. Chang’s and Williams-Sonoma at the center. Coro Realty Advisors, LLC (404-846-4002) negotiated a lease with LA Fitness for 50,000 sq.ft. of anchor space at Sandy Springs Crossing Shopping Center in Sandy Springs, GA. The company represented the landlord and The Shopping Center Group represented the tenant in the transaction. Addison Commercial Real Estate, Inc. (904-354-1789) negotiated a lease with Essential Capital Finance for 1,733 sq.ft. along Baymeadows Road in Jacksonville, FL. The company represented the tenant and CB Richard Ellis represented the landlord, Deerwood Investors, LLC, in the transaction. DM
Profile – New England Retail Properties, Inc.
Food Retailers Expand Nationwide (continued from page thirteen)
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 and ice cream parlors occupy spaces of 700 sq.ft. to 2,600 sq.ft. in freestanding locations, malls, urban/ downtown areas and entertainment, mixeduse, specialty, strip and tourist centers. Growth opportunities are sought nationwide during the coming 18 months. Typical leases run five years with one, 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., 812 Southwest Washington Street, Suite 1100, Portland, OR 97205; 503-224-6199, Fax 503-224-5042; Email: crduffie@allamericanicecream.com; Web site: www.allamericanrestaurants.com. Del’s Lemonade & Refreshments, Inc. trades as Del’s Lemonade at 33 locations nationwide. The shops, offering all-natural lemonade as well as popcorn, nachos, pretzels and fruit drinks, occupy spaces of 1,000 sq.ft. in freestanding locations and strip centers. Growth opportunities are sought throughout CA, CT, FL and Wichita, KS during the coming 18 months. Typical leases run five years with options. The company is franchising. For more information, contact Joe Padula, Del’s Lemonade & Refreshments, Inc., 1260 Oaklawn Avenue, Cranston, RI 02920; 401-463-6190, Fax 401-463-7931; Email: dels@dels.com; Web site: www.dels.com. Dunkin’ Donuts operates 9,000 locations nationwide and internationally. The donut shops occupy spaces of 800 sq.ft. to 1,800 sq.ft. in freestanding locations, urban store fronts and endcaps and shared pad sites of shopping centers. Growth opportunities are sought throughout the U Street Corridor, the central business district, New York Avenue Northeast Corridor and the southeastern and southwestern areas of Washington, DC during the coming 18 months, with representation by Capital Retail Group. For more information, contact Robert Tack or Michelle Tack, Capital Retail Group, 1401 14th Street Northwest, 3rd Floor, Washington, DC 20005; 202-319-2884 or 202-370-1351; Email: robert@capitalretailgroup.com; Web site: www.capitalretailgroup.com.
Big Boy International, LLC trades as Bob’s Big Boy at 150 locations throughout CA, FL, IL, MI, NC, ND and OH. The restaurants occupy spaces of 3,500 sq.ft. to 5,500 sq.ft. in freestanding locations and inline spaces of shopping centers located within active retail trade areas. Growth opportunities are sought throughout northern CA and the southeastern region of the U.S. during the coming 18 months. Preferred demographics include a population of 30,000 within five miles earning $35,000 as the average household income. For more information, contact Steve Facione, Big Boy International, LLC, 4199 Marcy Drive, Warren, MI 48091; 586-755-8113, Fax 586-757-4737; Email: sfacione@bigboy.com; Web site: www.bigboy.com. BJ’s Restaurants, Inc. trades as BJ’s Restaurant & Brewhouse at 95 locations throughout AZ, CA, CO, FL, HI, IN, KY, LA, NV, OH, OK, OR, TX and WA. The restaurants occupy spaces of 7,500 sq.ft. to 9,000 sq.ft. in freestanding locations, malls and entertainment, mixed-use, power and strip centers. Growth opportunities are sought throughout the existing markets during the coming 18 months. Typical leases run 15 to 25 years with options. Preferred cotenants include movie theaters, restaurants and bigbox and lifestyle centers. For more information, contact Brian Ulrich, BJ’s Restaurants, Inc., 7755 Center Avenue, Suite 300, Huntington Beach, CA 92647; 714-500-2400, Fax 714-908-2770; Web site: www.bjsrestaurants.com. Smoothie King Franchises, Inc. trades as Smoothie King at 615 locations nationwide, excluding the northwestern region. The smoothie shops occupy spaces of 1,200 sq.ft. in freestanding locations, malls and entertainment, lifestyle, power, specialty and strip centers, in addition to urban/downtown areas. Growth opportunities are sought throughout the existing markets during the coming 18 months. Typical leases run five years. The company is franchising. For more information, contact Richard Leveille, Smoothie King Franchises, Inc., 121 Park Place, Covington, LA 70433; 985-635-6973, Fax 985-635-6987; Email: richardl@smoothieking.com; Web site: D M www.smoothieking.com.
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several choices throughout CT. “They didn’t know the state, and we had enough information to show them why it would be a good location,” he said. “There are a lot of Circuit City and Linens ‘N Things boxes that people are making deals on, so they have a lot of choices. But we were fortunate enough – and they were too – to go with our shopping center in Waterbury.” At the time of this writing, there were plans to rename the center after the new tenant, in honor of their entry into the market. The company remains selective as to who they work with, to keep themselves able to spend sufficient time on each of the projects they handle. However, Halprin said, “If you name a tenant, we’ve probably worked with them.” The company has handled much of Stop & Shop’s excess real estate within New England, and has also done a large number of supermarket deals across various trade names. New England Retail Properties was also responsible for bringing the first Outback Steakhouse into the region in the early ‘90s, when the restaurant opened a location in Manchester, CT. “We probably have done almost 2,000 leases in 25 years, and we’ve sold a lot of property over the years as well,” he said. “It’s hard for me to remember all of them; there’s too many stories for me to think about.” When asked where he felt the industry was headed, Halprin predicted a slow year through 2010, but a process of gradual improvement beginning during 2011 or 2012, with new developments emerging over the next four to seven years at a rate similar to what the industry saw five years ago. “I think this is a slow race that we’re in; a lot slower than people had hoped,” he said. “In New England, there’s no industry, no population growth, and the cost of doing business keeps going up. We need growth, we need jobs – just like anywhere else – and we don’t have it.” “But we’re in for the long haul,” he added of the company. “We’re taking advantage of opportunities, and we’re working hard. Our key is marketing and presenting the property in a professional manner. We’re a small company; only nine people. We represent a lot of square footage and get a lot of deals done, but we’re small, and we keep it that way. I don’t want to add 35 brokers that I have to chase around; I don’t want benchwarmers. It’s about hard work, and those of us that know how to work hard know how to be successful.” For more information, contact Matthew Halprin, New England Retail Properties, Inc., 150 Hartford Avenue, Wethersfield, CT 06109; 860-529-9000, Fax 860-563-9667; Email: halprinm@newenglandretail.com; Web site: www.newenglandretail.com. DM
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Retailers Expanding Throughout New England (continued from page one)
Midway Oil Corp. trades as Midway at 18 locations throughout NY and VT. The convenience stores occupy spaces of 2,000 sq.ft. to 3,200 sq.ft. in freestanding locations and tourist centers. Growth opportunities are sought throughout the existing markets and MA during the coming 18 months. The company will consider sites of up to 4,000 sq.ft. Typical leases run 10 years. Preferred demographics include a population of 30,000 within five miles earning $40,000 as the average household income. Major competitors include Citgo and Shell. A land area of up to one acre is required. For more information, contact Joe Merone, Midway Oil Corp., 217 North Main Street, Rutland, VT 05701; 802-775-5534 Ext. 206, Fax 802-775-5044. Cinemark USA, Inc. trades as Cinemark USA at 400 locations nationwide and internationally. The movie theaters occupy spaces of 30,000 sq.ft. to 80,000 sq.ft. in freestanding locations, malls and entertainment, lifestyle and power centers. Growth opportunities are sought nationwide during the coming 18 months. Typical leases run 15 years. For more information, contact Tom Owens, Cinemark USA, Inc., 3900 Dallas Parkway, Suite 500, Plano, TX 75093; 972-665-1000, Fax 972-665-1004; Email: towens@cinemark.com; Web site: www.cinemark.com. L.B. Pennyworth’s, Inc. trades as L.B. Pennyworth’s at three locations throughout MA. The stores, offering family footwear, occupy spaces of 5,000 sq.ft. in freestanding locations and strip centers. Growth opportunities are sought throughout the existing market during the coming 18 months. Typical leases run seven years with options. For more information, contact Lowell Blitt, L.B. Pennyworth’s, Inc., 136 Boston Street, Lynn, MA 01950; 781-595-6710, Fax 781593-0120. Group USA trades as Camille La Vie and Group USA at 26 locations throughout AZ, CA, CO, FL, IL, KS, MI, MO, NC, NJ, NV, NY, OH, PA, TX, VA, WA and Puerto Rico. The stores, offering prom and bridal dresses, sportswear and accessories, occupy spaces of 5,000 sq.ft. to 8,000 sq.ft. in outlet centers and regional malls. Growth opportunities are sought nationwide during the coming 18 months. Typical leases run two to five years. Preferred demographics include a population of 500,000 within five miles earning $34,000 as the average household income. For more information, contact Behshid Zandi, Group USA, 25 Enterprise Avenue, Secaucus, NJ 07094; 201-867-6005; Web site: www.groupusa.com. page 22
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Moto Franchise Corp. trades as Moto Photo and Portrait Avenue at 192 locations throughout AZ, CA, CO, CT, IL, KY, MA, MD, MI, NJ, NY, OH, PA, TX, UT, VA, WI and Washington, DC. The stores, offering onehour photo processing, portraits and related services and merchandise, occupy spaces of 1,400 sq.ft. in regional malls. Growth opportunities are sought for the Portrait Avenue concept east of the Rocky Mountains during the coming 18 months. Typical leases run five years with two, five-year options. A vanilla shell and specific improvements are required. Preferred demographics include a population of 100,000 within five miles earning $50,000 as the average household income. The company is franchising. For more information, contact Joseph O’Hara, Moto Franchise Corp., 7886 Corporate Way, Dayton, OH 45459; 937291-1900, Fax 937-291-2005; Web site: www.motophoto.com. Intrigue Jewelers / Diamond Forever trades as Diamonds Forever at eight locations throughout GA. The jewelry stores occupy spaces of 1,200 sq.ft. to 2,000 sq.ft. in malls and power and specialty centers. Growth opportunities are sought nationwide during the coming 18 months. Typical leases run three to five years. A vanilla shell is required. Preferred cotenants include Dillards, JCPenney and Sears. Preferred demographics include a population of 30,000 within 10 miles earning $65,000 as the average household income. Major competitors include Gordon Jewelers, Kay Jewelers and Zales. For more information, contact Omar Farooq, Intrigue Jewelers / Diamond Forever, 1633 Sunset Drive, Birmingham, AL 35216; 205-901-2000. Batteries Plus, LLC trades as Batteries Plus at 400 locations nationwide. The stores, offering batteries for cars, laptops, hearing aids and electronics, occupy spaces of 1,500 sq.ft. to 2,000 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 is required. Preferred cotenants include Home Depot, Lowe’s Home Improvement and Target. Preferred demographics include a population of 100,000 within five miles. The company is franchising. For more information, contact Nate Zelazoski, Batteries Plus, LLC, 925 Walnut Ridge Drive, Hartland, WI 53029; 262912-3186, Fax 262-912-3100; Email: nzelazoski@batteriesplus.com; Web site: www.batteriesplus.com.
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Petco Animal Supplies, Inc. trades as Petco at 1,000 locations nationwide. The pet supply stores occupy spaces of 8,500 sq.ft. to 12,500 sq.ft. in power centers. Growth opportunities are sought throughout the existing market during the coming 18 months. Typical leases run 10 years. Preferred cotenants include Bed Bath & Beyond, Home Depot, Jo-Ann Fabrics, Marshalls, Michaels, Target, T.J. Maxx, Trader Joes and Whole Foods Market. Preferred demographics include a population of 100,000 within three miles earning $55,000 as the average household income. For more information, contact Ellen Mogel, Petco Animal Supplies, Inc., 9125 Rehco Road, San Diego, CA 92121; 858677-3030, Fax 858-638-2229; Web site: www.petco.com. Regal Entertainment Group trades as Regal Cinemas, United Artists and Edwards Theaters at 540 locations nationwide throughout 38 states. The movie theaters occupy spaces of 50,000 sq.ft. to 75,000 sq.ft. in malls and entertainment, lifestyle, mixed-use and power centers. Growth opportunities are sought nationwide during the coming 18 months. Typical leases run 15 years. Preferred demographics include a population of 100,000 within five to seven miles. For more information, contact Robert Crane, Regal Entertainment Group, 7132 Regal Lane, Knoxville, TN 37918; 865922-1123, Fax 865-925-9754; Web site: www.regmovies.com. Vanity Shop of Grand Forks trades as Vanity at 200 locations nationwide throughout 26 states. The stores, offering women’s and juniors’ apparel, occupy spaces of 2,500 sq.ft. to 3,500 sq.ft. in enclosed malls. Growth opportunities are sought nationwide during the coming 18 months. Typical leases run three to five years. A vanilla shell and specific improvements are required. Preferred cotenants include Target. Major competitors include Aeropostale, Charlotte Russe and Wet Seal. For more information, contact Dane Tollefson, Vanity Shop of Grand Forks, 1001 25th Street North, Fargo, ND 58102-3116; D 701-237-3330, Fax 701-235-6789. M
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Groton – A 1,252 sq.ft. freestanding building situated on 0.17 acres at the intersection of Bridge Street, Broad Street, North Street and Spicer Avenue is available. Area demographics include a population of 83,582 within five miles earning $53,331 as the median household income. The asking monthly rent is $2,500 NNN. New London – A 1,736 sq.ft. freestanding location situated on 0.28 acres at the intersection of Colman Street and Walden Avenue is available. Area demographics include a population of 81,401 within five miles earning $50,076 as the median household income. The asking monthly rent is $2,500. Also, a freestanding 11,000 sq.ft. building situated on 0.44 acres at the intersection of Bank Street and Truman Street is available. Area retail includes Walgreens and Dime Savings Bank. Area demographics include a population of 156,135 within 10 miles. The average daily traffic count is 13,200 vehicles. For details, contact Barbara Barron, Londregan Commercial Real Estate Group, 129 Main Street, Old Saybrook, CT 06475; 860-388-9100, Fax 860-388-3584; Email: bbarron@londregan.com; Web site: www.londregan.com.
Newington – Newington Fair, a 339,974 sq.ft. power center situated on 47.6 acres at the intersection of U.S. Highway 5/Berlin Turnpike and Rowley Street, has a 6,500 sq.ft. outlot available. Stew Leonard’s, Sam’s Club, Toys “R” Us and LA Fitness anchor the center. Cotenants include Sleepy’s. Area retail includes Walmart, Best Buy, Lowe’s Home Improvement, Staples, Petco, Dick’s Sporting Goods and Target. Area demographics include a population of 299,261 within 10 miles earning $70,717 as the average household income. The average daily traffic count is 31,100 vehicles. The asking rent is $105,000 for ground lease or $27 psf NNN for build-to-suit. For details, contact Adam Moore, Charter Realty and Development, 183 Main Street, Westport, CT 06880; 203-227-2922; Email: adam@chartweb.com.
Shapiro, Kin Properties, 185 Northwest Spanish River Boulevard, Suite 100, Boca Raton, FL 33431; 561-620-9200 Ext. 112/117/118/123, Fax 561-955-9921; Emails: lweiselberg@kinproperties.com, rcrum@kinproperties.com, mmakler@kinproperties.com and gshapiro@kinproperties.com; Web site: www.kinproperties.com.
DELAWARE RETAIL LEASE OPPORTUNITIES MIDDLETOWN, DELAWARE 50 commercial acres at signaled intersection of US Route 301 and Peterson Rd just north of Kohls, Walmart, Lowes, and Home Depot. SMYRNA, DELAWARE 50 commercial acres at signaled intersection of US Route 13, State Route 1, and Carter Road. ALSO: Padsites for lease or Build-to-Suit Millsboro, DE across from BJ’s/ Lowes and Malvern, PA across from Target/Wegmans.
Waterbury – A 4,980 sq.ft. freestanding building located on Wolcott Road is available. The asking rent is $10 psf. For details, contact Len Weiselberg, Robert Crum, Matthew Makler or Gary
Florida St. Petersburg – 34th Street Crossing, a 54,400 sq.ft. strip center situated on 5.8 acres along U.S. Highway 19 South/29th Avenue South, has a 12,892 sq.ft. space available along with a 19,166 sq.ft. outlot. Aldi anchors the center and cotenants include Miami Fashion and Davita Health. Area retail includes Walmart Supercenter and Publix. Area demographics include a population of 415,977 within 10 miles earning $60,276 as the average household income. The average daily traffic count is 37,700 vehicles. The asking rent is $12 psf. (continued on page twenty-four)
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For details, contact Frank Bozikovich, Commercial Partners Realty, Inc., 299 Dr. Martin Luther King Jr. Street North, St. Petersburg, FL 33701; 727822-4715, Fax 727-812-4528; Email: fbozikovich@commercialpartnersrealty.com; Web site: www.commercialpartnersrealty.com.
Maine Farmington – Mount Blue Shopping Center, a 105,168 sq.ft. strip center situated on 12.74 acres along Route 4, has spaces available of 4,000 sq.ft. and 38,000 sq.ft. along with two spaces of 5,000 sq.ft. Sears anchors the center and cotenants include Bangor Savings Bank, U.S. Cellular, SaveA-Lot, Dunkin’ Donuts, Colortyme and Family Dollar. Area retail includes Walmart Supercenter. Area demographics include a population of 20,082 within 10 miles earning $39,282 as the average household income. The average daily traffic count is 18,000 vehicles. The asking rent is $10 psf with CAM of $2 psf. For details, contact Danielle Lape, King Real Estate, 198 Saco Avenue, Old Orchard Beach, ME 04064; 207-934-7622, Fax 207-9341566; Email: danielle@kingrealestate.com; Web site: www.kingrealestate.com.
Allston – A 2,400 sq.ft. former 7-Eleven located on Harvard Avenue is available. Also, spaces of 2,000 sq.ft. and 5,000 sq.ft., located on Harvard Avenue, both with full basements, are available. Bedford – Great Road Shopping Center, located at the intersection of Route 4 and Route 225, has a 29,169 sq.ft. outlot available. Boston – A 1,660 sq.ft. former Quiznos with a 1,151 sq.ft. basement space located on Huntington Avenue is available. Also, a 1,200 sq.ft. space located on Huntington Avenue is available. Brookton – Stonehill Shopping Center, located at the intersection of Route 123 and Route 24, has a 1,918 sq.ft. space available along with a 14,550 sq.ft. pad site. Cambridge – A 1,260 sq.ft. space and a 1,554 sq.ft. lowerlevel space located on Massachusetts Avenue are available. Also, Shops at Porter Square, located on Route 2A, has an 1,831 sq.ft. space available. Chelmsford – A divisible space of 3,650 sq.ft. located on Drum Hill Road is available. Chestnut Hill – A 1,347 sq.ft. and a divisible space of 2,585 sq.ft., located on Boylston Street, both with full basements, are available. Also, a 2,200 sq.ft. former AT&T Mobility with a full basement located on Boylston Street is available. For details regarding the Allston, Bedford and Cambridge properties, contact Adam
Conviser or Jim Conviser, Conviser Property Group, 858 Washington Street, Suite 306, Dedham, MA 02026; 781-320-0600, Fax 617-663-6300; Emails: adam@conviserpg.com and jim@conviserpg.com; Web site: www.conviserpg.com. For details regarding the Boston and Brookton properties, contact Jim Conviser. For details regarding the Chelmsford property, contact Adam Conviser. For details regarding the Chestnut Hill properties, contact Scott Moriyama; Email: scott@conviserpg.com.
Michigan Lansing – A 4,000 sq.ft. freestanding building located on South Cedar Street is available. The asking rent is $9.50 psf. Livonia – A 7,000 sq.ft. freestanding building located on Plymouth Road is available. The asking rent is $6.60 psf. Muskegon – A 6,866 sq.ft. freestanding building located on East Apple Avenue is available. The asking rent is $7.50 psf. Port Huron – An 8,400 sq.ft. freestanding building located on North 24th Avenue is available. The asking rent is $4.50 psf. Sterling Heights – A 1,700 sq.ft. freestanding building located on Van Dyke Avenue is available. The asking rent is $7.50 psf. Troy – A 6,000 sq.ft. freestanding building located (continued on page twenty-six)
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on Rochester Road is available. The asking rent is $10 psf. Woodhaven – A 22-acre parcel located at the intersection of Interstate 75 and West Road is available. For details, contact Len Weiselberg, Robert Crum, Matthew Makler or Gary Shapiro, Kin Properties, 185 Northwest Spanish River Boulevard, Suite 100, Boca Raton, FL 33431; 561-620-9200 Ext. 112/117/118/123, Fax 561-955-9921; Emails: lweiselberg@kinproperties.com, rcrum@kinproperties.com, mmakler@kinproperties.com and gshapiro@kinproperties.com; Web site: www.kinproperties.com.
New Jersey Clifton – Botany Plaza, a 200,000 sq.ft. strip center located at the intersection of Ackerman Avenue and Randolph Avenue, has an 1,800 sq.ft. space available. Kmart and Pathmark anchor the center. Cotenants include Fashion Bug and Foot Locker. Area demographics include a population of 645,000 within five miles earning $75,000 as the average household income. The asking rent is $30 psf NNN with CAM of $2.45 psf and taxes of $5.17 psf. For details, contact Kevin Nassimi, Nassimi Realty, 370 Seventh Avenue, Suite 1600, New York, NY 10001; 212643-8080, Fax 212-643-3636; Email: kevin@nassimirealty.com; Web site: www.nassimirealty.com. Woodbridge – Super A&P Shopping Plaza, a 78,000 sq.ft. strip center located on Route 35/St. Georges Avenue, has a 4,500 sq.ft. space available. Super A&P anchors the center and cotenants include Natural Nails, Dollar Surplus, Rita’s, Subway, Papa John’s, HFC Chicken, Supercuts and Hollywood Tans. Area retail includes Woodbridge Mall. Area demographics include a population of 257,560 within five miles earning $72,087 as the median household income. The asking rent is $20 psf with CAM and taxes of $6 psf. 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 Albany – Wolf Road Shoppers Park, a mixeduse center located at the intersection of page 26
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Wolf Road and Metro Park Road, has space available. Cotenants include Guitar Center, Stickley Furniture, Macaroni Grill, Key Bank, Talbot’s, Stone Mountain Flooring, Outback Steakhouse, Capital Bank, Bank of America, Subway, Fleet Feet, Trustco Bank, Marc Anthony and Arby’s. The asking rent ranges from $14 psf to $16 psf NNN. For details, contact Barry Feinman or Kenneth Brownell, Vanguard-Fine, LLC, 2050 Western Avenue, Suite 201, Guilderland, NY 12084; 518-862-0861 Ext. 202/201; Emails: kbrownell@vanguardfine.com and bfeinman@vanguardfine.com.
income. The average daily traffic count is 45,000 vehicles. Also, Scarsdale Park Mall, a 35,000 sq.ft. specialty center located at the intersection of Route 100/Central Avenue and Old Army Road, has spaces available of 1,875 sq.ft.; 4,500 sq.ft. and 5,100 sq.ft. Cotenants include Gymboree, Snip-Its, Central Park Dance, Fitness Together, Weight Watchers and Creative Playthings. Area demographics include a population of 110,000 within three miles earning $125,000 as the average household income. The average daily traffic count is 30,000 vehicles. For details, contact Bill Hesse, Aries Deitch & Endelson, 110 South Central Avenue, Hartsdale, NY 10530; 914-949-2800; Email: billhesse@ade-re.com; Web site: www.ade-re.com.
Carle Place – Plaza 200 Shopping Center, a 150,000 sq.ft. strip center situated on 10 acres at the intersection of Glen Cove Road and Voice Road, has a divisible space of 18,000 sq.ft. available. Cotenants include Golfsmith, Dunkin’ Donuts, Corning Revere, Van Heusen, Marburn Curtains and Planet Fitness. Area demographics include a population of 437,653 within five miles earning $105,969 as the average household income. The average daily traffic count is 41,000 vehicles. The asking rent is $30 psf with CAM of $1 psf and taxes of $8.50 psf. Centereach – Centereach Shopping Center, an 11,000 sq.ft. strip center situated on 1.75 acres at the intersection of Middle Country Road and Coles Drive, has a divisible space of 2,700 sq.ft. available. Advance Auto and CosmoProf anchor the center. Area retail includes Smith Haven Mall, Walmart and Stop & Shop. Area demographics include a population of 252,827 within five miles earning $81,576 as the average household income. The average daily traffic count is 40,000 vehicles. The asking rent is $25 psf with CAM of $1 psf and taxes of $4 psf. For details, contact Jeffrey Pliskin, Pliskin Realty & Development, Inc., 179 Westbury Avenue, Carle Place, NY 11514; 516-997-0100, Fax 516-997-7225; Email: jpliskin@pliskinrealty.com; Web site: www.pliskinrealty.com. Scarsdale – Midway Shopping Center, a 300,000 sq.ft. strip center located at the intersection of Route 100/Central Avenue and Ardsley Road, has spaces available of 5,000 sq.ft.; 16,000 sq.ft. and 32,000 sq.ft. ShopRite anchors the center and cotenants include Annie Sez, dressbarn, CVS, Panera Bread, Starbucks, Cold Stone Creamery, Denny’s Childrenswear, Lakeshore Learning Center, Pizza Hut, Red Lobster and Amazing Savings. Area demographics include a population of 350,000 within five miles earning $110,000 as the average household
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North Carolina Sanford – Riverbirch Corner, a 218,000 sq.ft. strip center located on U.S. Highway 1/Route 501, has spaces available of 3,500 sq.ft.; 6,600 sq.ft. and 27,000 sq.ft. Belk, JCPenney and Rite Aid anchor the center. Cotenants include BB&T Bank, McDonald’s, RadioShack, Hallmark, Bath & Body Works, Rack Room Shoes, Hibbett Sporting Goods and Maurices. Area retail includes Lowes Food and OfficeMax. Area demographics include a population of 80,730 within 10 miles earning $51,142 as the average household income. The average daily traffic count is 28,000 vehicles. The asking rent ranges from $6.50 psf to $12.50 psf with CAM of $0.58 psf and taxes of $0.64 psf. For details, contact Isaac Seruya, Genesis Management, PO Box 366, Oakhurst, NJ 07755; 919-280-8800; Email: isaac@genesis-mgt.com.
Ohio Canton – Country Fair Shopping Center, a strip center located at the intersection of Whipple Avenue and Tuscarawas Street, has space available. Area retail includes Walmart, Fisher Foods and Giant Eagle. Area demographics include a population of 157,604 within five miles earning $48,981 as the average household income. The average daily traffic count is 37,560 vehicles. The asking rent is $14 psf. For details, contact Steven Eisenberg, Arnold J. Eisenberg, Inc., 24500 Chagrin Boulevard, Suite 120, Beachwood, OH 44122; 216-831-6773, Fax 216-831-3869; Email: seisenberg@aol.com; Web site: www.arnoldjeiseinberginc.com. (continued on page twenty-eight)
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Space Place Pennsylvania
(continued from page twenty-six)
Bethel Park – Bethel Park Shops has a 7,488 sq.ft. space available. Canonsburg – Waterdam Centre has spaces available of 1,849 sq.ft. and 2,814 sq.ft. Gibsonia – Orchard Park Plaza, located on Route 8, has spaces available from 1,200 sq.ft. to 2,822 sq.ft. Cotenants include Atria’s, Great Clips, The UPS Store and Rite Aid. McMurray – A 0.6-acre parcel located at the intersection of Route 19 and East McMurray Road is available for ground lease. The average daily traffic count is 47,000 vehicles. Pittsburgh – Penn Center East has spaces available from 1,000 sq.ft. to 26,000 sq.ft. Also, Walnut Place has spaces available of 1,200 sq.ft. and 8,600 sq.ft. Also, Shadyside Village has spaces available of 1,000 sq.ft. and 2,000 sq.ft. Wexford – Pine Tree Shoppes, located on Route 19, has a divisible space of 6,000 sq.ft. available. Arhaus Furniture and Panera Bread anchor the center. For details, contact Herky Pollock, Steven Esposito, Jason Cannon or Josh Smith, CB Richard Ellis, 600 Grant Street, Suite 1400, Pittsburgh, PA 15219; 412-394-9840/9845/9805/9808; Emails: herky.pollock@cbre.com, steve.esposito@cbre.com, jason.cannon@cbre.com and josh.smith@cbre.com. Kennett Square – A divisible 48,847 sq.ft. former Giant located at the intersection of Route 1/Baltimore Pike and Scarlet Road is available. Area retail includes Big Lots and Citizens Bank. Area demographics include a population of 86,705 within seven miles earning $133,845 as the average household income. The average daily traffic count is 16,000 vehicles. For details, contact Brian Goodwin or Glenn Marvin, Metro Commercial Real Estate, Inc., 161 Washington Street, Suite 375, Conshohocken, PA 19428; 610-2602664/2674, Fax 610-825-5156; Emails: bgoodwin@metrocommercial.com and gmarvin@metrocommercial.com; Web site: www.metrocommercial.com. Morrisville – Morrisville Shopping Center, situated on 14.38 acres along West Trenton Avenue, has a 2,437 sq.ft. space available along with outlots of one acre and 1.34 acres. Area retail includes Devon Self Storage. Area demographics include a population of 251,802 within five miles earning $75,555 as the average household income. Philadelphia – Cottman & Castor Shopping Center, a 213,444 sq.ft. center situated on 8.12 acres at the intersection of page 28
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The
Pennsylvania
Pennsylvania
Cottman Avenue and Castor Avenue, has spaces available of 1,106 sq.ft. to 148,474 sq.ft. Toys “R” Us anchors the center and cotenants include Wings to Go, Dutch Country and GNC. Area demographics include a population of 614,397 within five miles earning $55,905 as the average household income. The average daily traffic count is 38,000 vehicles. Shrewsbury – Shrewsbury Square Shopping Center, a 94,706 sq.ft. center situated on 21.17 acres at the intersection of SR 2097/Mt. Airy Road and SR 0851/East Forrest Avenue, has a 2,400 sq.ft. space available along with a 3,200 sq.ft. outlot. Giant anchors the center and cotenants include Top Nails, No. 1 Schezuan, American General Finance, Hallmark, USA Optical, Mattress Warehouse, JJ&H Cleaners, Hair Cuttery, Sovereign Bank, Chick-fil-A, Blockbuster Video and Starbucks. Area demographics include a population of 27,055 within five miles earning $74,812 as the average household income. Souderton – County Line Plaza, a 68,380 sq.ft. center situated on 18.04 acres at the intersection of Route 309 and PA Route 113/Souderton Road, has a 2,812 sq.ft. space available. VF Outlet Marketplace anchors the center. Area retail includes Rite Aid, Payless ShoeSource, RadioShack, Blockbuster Video and Pizza Hut. Area demographics include a population of 98,570 within five miles earning $77,084 as the average household income. The average daily traffic count is 36,200 vehicles. Whitehall – Macarthur Towne Center, a 151,418 sq.ft. center situated on 33.66 acres along Macarthur Road, has a 1,260 sq.ft. space available. Kmart and Giant anchor the center. Cotenants include Becker’s ParentTeacher Store, Sports Fever, David’s Bridal, HFC, Party City, Jo-Ann Fabrics, Towne Center Cleaners, America’s Best Vision and Barnes & Noble. Area demographics include a population of 197,873 within five miles earning $56,743 as the average household income. York – Mount Rose Plaza, a 58,244 sq.ft. center situated on 13.65 acres between Mt. Rose Avenue and Prospect Street, has a 2,808 sq.ft. space available along with a 6,500 sq.ft. outlot. Cotenants include Dunkin’ Donuts, Pizza Hut, Family Dollar, Advance Auto, Rent-ACenter and Save-A-Lot. Area demographics include a population of 139,832 within five miles earning $62,762 as the average household income. The average daily traffic count is 25,000 vehicles. For details regarding the Morrisville, Philadelphia, Souderton and Whitehall properties, contact Nina Sirianni, Kimco
Realty, 6 Coulter Avenue, Suite 1000, Ardmore, PA 19003; 610-896-7560; Email: nsirianni@kimcorealty.com. For details regarding the Shrewsbury and York properties, contact Jarett Parker; 170 West Ridgely Road, Lutherville, MD 21093; 410684-2000; Email: jparker@kimcorealty.com.
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Philadelphia – Blue Bell Shopping Center, a 42,240 sq.ft. strip center situated on 4.7 acres at the intersection of 70th Street and Grovers Street, has spaces available of 1,174 sq.ft. and 2,400 sq.ft. Dollar Tree anchors the center. Area demographics include a population of 669,033 within five miles earning $55,466 as the average household income. The average daily traffic count is 10,598 vehicles. For details, contact Nicholas Forelli, Rosen Associates Management Corp., 33 South Service Road, Jericho, NY 11753; 516-281-1532, Fax 516-281-1562; Email: nforelli@rosenmgmt.com.
South Carolina Aiken – Shoppes at Whiskey, a 40,000 sq.ft. strip center located at the intersection of Whiskey Road and Centennial Avenue, has spaces available of 1,200 sq.ft.; 2,000 sq.ft. and 2,400 sq.ft. Dollar Tree and O’Charley’s anchor the center. Cotenants include Sally Beauty Supply, Household Rental, One Time Party Shop, Firehouse Subs, Marble Slab Creamery and Farrando’s Pizza. Area retail includes Walmart Supercenter, Target, Home Depot, Old Navy, T.J. Maxx and Ross Dress for Less. Area demographics include a population of 44,044 within five miles earning $64,677 as the average household income. The average daily traffic count is 25,000 vehicles. The asking rent ranges from $17 psf to $21 psf. For details, contact Erbie Blackwell, JSSR Investments, Inc., 6150 Woodside Executive Court, Aiken, SC 29803; 803-649-0050, Fax 803-649-0975; Email: eblackwell@jssrinv.com; Web site: www.jssrinv.com.
Virginia Richmond – White Oak Crossing, located on South Laburnum Avenue, has a 2.192-acre parcel available for ground lease or build-tosuit. Area retail includes White Oak Village, featuring Target, OfficeMax, PetSmart, JCPenney, Lowe’s Home Improvement, Sam’s Club, Ukrop’s, Wachovia Bank, 7-Eleven, Olive Garden, T.G.I. Friday’s, Chick-fil-A, Cracker Barrel, McDonald’s and Red Lobster. Area demographics include (continued on page thirty)
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Space Place Virginia
(continued from page twenty-eight)
a population of 251,835 within five miles earning $61,180 as the average household income. The average daily traffic count is 21,000 vehicles. Williamsburg – Patriot Plaza, a center situated on 6.5 acres along Richmond Road, has divisible spaces of 5,000 sq.ft. and 29,992 sq.ft. available. Cotenants include Orvis, Jos. A. Bank, Lenox, Mattress Alternatives and Red City Buffet. Area draws include Colonial Williamsburg, Busch Gardens and Water Country USA. For details regarding the Richmond property, contact Connie Jordan Nielsen, Thalhimer Commercial Real Estate, Exchange Place, 1313 East Main Street, Suite 400, Richmond, VA 23219; 804-697-3569; Email: connie.nielsen@thalhimer.com. For details regarding the Williamsburg property, contact Drew Haynie, Richard Thalhimer or James Ashby; 757-873-9004 or 804-6973416/3455; Emails: drew.haynie@thalhimer.com, richard.thalhimer@thalhimer.com and jim.ashby@thalhimer.com. Wytheville – A 3,200 sq.ft. freestanding building located at the intersection of North
Virginia
Washington, DC
4th Street and Monroe Street is available. Area retail includes Stellar One, Shanaki Martial Arts, U.S. Postal Service, Schewels Furniture and Virginia ABC Retail Store. The average daily traffic count is 20,000 vehicles. Also, a divisible 26,940 sq.ft. freestanding building situated on 1.13 acres is available. Area retail includes BB&T Bank, Bank of America, NAPA Auto Parts, AutoZone, Advance Auto, Skeeter’s and The National Bank. The average daily traffic count is 12,000 vehicles. For details, contact William Smith, First Choice Real Estate of VA, 325 East Main Street, Wytheville, VA 24382; 276228-8882, Fax 276-227-0508; Email: wjs00@hotmail.com; Web site: www.fcreva.com.
Matthew Jemal, Douglas Development Corp., 702 H Street Northwest, Suite 400, Washington, DC 20001; 202-638-6300.
Washington, DC Washington, DC – A multi-level mixed-use center located on F Street Northwest has spaces available from 840 sq.ft. to 10,325 sq.ft. Area retail includes Cosi, Barnes & Noble, RadioShack, Banana Republic and West Elm. For details, contact Norman Jemal or
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West Virginia Clarksburg – Gabriel Bros. Plaza, a 106,596 sq.ft. strip center located at the intersection of Route 50 and Thompson Drive, has spaces available of 1,000 sq.ft. and 1,250 sq.ft. Gabriel Bros., Big Lots and Rent-A-Center anchor the center. Area retail includes Walmart, Sam’s Club and Kmart. The asking rent is $12 psf with CAM of $1 psf and taxes of $0.50 psf. Huntington – Gabriel Bros. Shopping Center, a 101,782 sq.ft. strip center located on U.S. Route 60, has spaces available of 9,600 sq.ft. and 19,000 sq.ft. Gabriel Bros. anchors the center and cotenants include Ponderosa Steakhouse. Area retail includes Walmart and Big Lots. The asking rent is $8 psf with CAM of $1.35 psf and taxes of $0.55 psf. For details, contact Jim Barger, CETA Group, LP, 55 Scott Avenue, Morgantown, WV 26508; 304-225-7141, Fax 304-2923876; Email: jim.barger@gabes.net. DM
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