Reporting The Nation’s Weekly News on Retailing & Retail Real Estate
Volume XXV No. XLI
October 29, 2010
Supermarket Chains Expand Nationwide Roundy’s Supermarkets, Inc. trades as Copps Food Store at 26 locations throughout WI. The supermarkets occupy spaces of 45,000 sq.ft. to 70,000 sq.ft. in freestanding locations and anchor positions of strip centers. Growth opportunities are sought throughout the existing market during the coming 18 months. Typical leases run 20 years. Specific improvements are required. Preferred cotenants include general merchandise retailers. Major competitors include Walmart. A land area of six acres is required for freestanding locations. The company also trades as Pick N Save at 96 locations throughout WI. The supermarkets occupy spaces of 45,000 sq.ft. to 70,000 sq.ft. in freestanding locations and strip centers. Growth opportunities are also sought throughout the existing market during the coming 18 months. The company operates a third concept, trading as Rainbow Foods, with 32 locations throughout MN. The supermarkets occupy spaces of 60,000 sq.ft. in freestanding locations. Growth opportunities are sought throughout the existing market during the coming 18 months. For more information, contact Dan Farrell, Roundy’s Supermarkets, Inc., 875 East Wisconsin Avenue, Milwaukee, WI 53202; 414-231-5882, Fax 414-231-7939; Email: dan.farrell@roundys.com. Puget Consumers Co-Op trades as PCC Natural Markets at nine locations throughout WA. The grocery stores, offering natural foods, occupy spaces of 20,000 sq.ft. to 25,000 sq.ft. in
freestanding locations and strip centers. Plans call for one opening within the existing market during the coming 18 months. Typical leases run 15 to 20 years with options. Preferred cotenants include non-food retailers. Major competitors include Whole Foods Market and independent natural food stores. For more information, contact Randy Lee, Puget Consumers Co-Op, 4201 Roosevelt Way Northeast, Seattle, WA 98105; 206-547-1222, Fax 206-545-7131; Email: randy.lee@pccsea.com; Web site: www.pccnaturalmarkets.com. Wegmans Food Markets, Inc. trades as Wegmans at 77 locations throughout MD, NJ, NY, PA and VA. The upscale supermarkets occupy spaces of 120,000 sq.ft. to 140,000 sq.ft. in freestanding locations and lifestyle and power centers. Plans call for four openings throughout MA, MD, NJ, NH, PA or VA during the coming 18 months. Typical leases run 20 to 25 years with options. Preferred demographics include a population of 50,000 within three miles earning $75,000 as the average household income. A land area of 12 to 18 acres is required for freestanding locations. The company will also consider ground leases and acquiring sites. For more information, contact Paul Gilbert, Wegmans Food Markets, Inc., PO Box 30844, Rochester, NY 14603-0844; 585-464-4755, Fax 585-783-4255; Email: paul.gilbert@wegmans.com; Web site: www.wegmans.com. (continued on page fifteen)
This issue contains information on:
* Retailers operating 63,355 locations with plans to open 2,261 sites * Real estate valued in excess of $26.6 million to be bought, sold & financed * Leasing activity on over 9.7 million sq.ft. of retail properties
Important News Please Expedite
Postmaster: Periodical
Featuring ICSC Chicago Dealmaking New Construction Mid-America Real Estate Corp. is preleasing a shopping center in Joliet, IL................................ Pg. 3 Observations & Conversations Pg. 4 Profile X Team International................ Pg. 6 RCS Real Estate Advisors.......... Pg. 8 Openings Smashburger to open locations throughout IL............................ Pg. 10 Meijer, Inc. to open a grocery store in Melrose Park, IL........... Pg. 11 Buyers & Sellers The Boulder Group negotiated the sale of a 14,490 sq.ft. Walgreens in Barrington, IL...... Pg. 14 Lease Signings Goodman Real Estate Services Group, LLC negotiated a lease with Home Emporium for 125,469 sq.ft. in OH................ Pg. 16 Lead Sheet Cleaning Concepts plans to open dry cleaning locations nationwide............................... Pg. 17 Shoe Carnival, Inc. continues growth throughout midwestern, western, southern and southeastern U.S....................... Pg. 20 Food Retailers Expand Wing Zone to open locations throughout the Midwest and along the East Coast.................. Pg. 22 Dunn Bros. Coffee plans to enter into the IL market............. Pg. 22 Exclusives Colliers International – Atlanta named exclusive leasing agent for three mixed-use properties in the Atlanta, GA area............. Pg. 26 In the News Franklin Street Financial Partners acquired Smith Attaway Co...... Pg. 28 Space Place.............................. Pg. 28
For more news go to: www.dealmakers.net Mobile Access Code: chicagodmk2010
RETAIL OPPORTUNITIES IN
NORTH RIVERSIDE • ILLINOIS 237 TO 8,818 SF AVAILABLE
EXCELLENT RESTAURANT PADS & FOOD COURT LOCATION AVAILABLE 98% Leased • 1.1 million SF super regional mall anchored by JCPenney, Sears and Carson Pirie Scott • Two-level, enclosed mall features 140 retail shops including The Gap, Starbucks, Old Navy, Forever 21, Victoria’s Secret, Charlotte Russe, Express, Children’s Place, Wet Seal, Bath & Body Works, New York & Company, House of Hoops by Foot Locker and a 6-plex theater • Situated just 10 miles west of downtown Chicago • 5-mile radius: population 700,000; 377,375 under age 35; 270,000 households with $63,000 average HH income
Owner/Manager | Seven Penn Plaza, New York, NY 10001 | www.feilorg.com Harvey Ahitow: hahitow@feilorg.com | 708-442-7605 Glen Wilson: gwilson@feilorg.com | 504-835-8000 Nothing Beats 50 Years of Stability.
New Construction CBL & Associates Properties, Inc. is developing the second phase of Settlers Ridge, a 600,000 sq.ft. open-air center located in Pittsburgh, PA. Cotenants include Giant Eagle Market District, Cinemark Theaters, Barnes & Noble, REI, Michaels, Ross Dress for Less and LA Fitness. The company is also developing the second phase of The Pavilion at Port Orange, a 500,000 sq.ft. open-air shopping center located in Port Orange, FL. Cotenants include Belk, Michaels, Hollywood Theater, HomeGoods, Marshalls Megastore and Petco. The company is also developing the second phase of Hammock Landing,
President/Publisher.............................. Ann O'Neal ann@dealmakers.net Vice President .................................. Alyson Parker alyson@dealmakers.net Art Director................................. Anthony Pingicer anthony@dealmakers.net Editor.................................................. Erin Dunkley erin@dealmakers.net Editor............................................... Adam Taliercio adamt@dealmakers.net Customer Service....................... Bridget Thoresen custserv@dealmakers.net Founder..................................................... Ted Kraus 1979–2007
The Dealmakers (ISSN 1055-0771) is published weekly except for the weeks of January 1st, July 4th, the ICSC's Spring and Fall Conventions and December 25th for $294 per year U.S., foreign $319 by TKO Real Estate Advisory Group Inc. PO Box 2630 Mercerville, NJ 08690-0630. TM
The Dealmakers TM reports on over 20,000 retailers, developers and management companies every year. It is written by real estate professionals for real estate professionals. The newsletter keeps readers abreast of the latest leasing, development and management changes occurring in the real estate industry on a weekly basis. NOTE: Current federal law requires written consent from a company prior to utilizing the published fax number. Share The Dealmakers TM with your organization or service for free. Just let us know when your next meeting is and we'll send you copies of our issue for free for your members to learn how to be a better dealmaker! POSTMASTER: Send address changes to The Dealmakers, PO Box 2630 Mercerville, NJ 086900630. Periodical postage paid at Trenton, NJ and at additional mailing offices. Affiliated with Tenant Search, E.S.P., Properties by Fax Copyright 2010 by TKO Real Estate Advisory Group Inc. 609-587-6200, fax 609-587-3511.
a 460,000 sq.ft. open-air center located in West Melbourne, FL. Cotenants include Target, hhgregg, Kohl’s, Marshalls, Michaels, Petco, Ulta and Ross Dress for Less. The company is also developing The Forum at Grandview, a 300,000 sq.ft. open-air center being developed in phases in Madison, MS. Cotenants include Dick’s Sporting Goods, Stein Mart and Best Buy. The first phase of the project is slated to open this fall. The company is also developing Alamance Crossing West, a 200,000 sq.ft. open-air shopping center located in Burlington, NC. Cotenants include Kohl’s, BJ’s Wholesale Club and Dick’s Sporting Goods. The center is slated to open next fall. For more information, contact CBL & Associates Properties, Inc., CBL Center, Suite 500, 2030 Hamilton Place Boulevard, Chattanooga, TN 37421-6000; 423-8550001; Web site: www.cblproperties.com. Donahue Schriber is developing Orchard Walk West, a 199,000 sq.ft. project located in Visalia, CA. The project is slated to open during winter 2012. The company is also, in a joint venture with Tom Winn, developing Rocklin Commons, a 388,000 sq.ft. project located in Sacramento, CA. Target and Kohl’s will anchor the project, which is slated to open during fall 2012. The company is also developing Rocklin Crossings, a 517,000 sq.ft. project located in Rocklin, CA. Home Depot and Walmart will anchor the project, which is slated to open during fall 2012. The company is also developing Sunridge Plaza, a 95,000 sq.ft. project located in Rancho Cordova, CA. The project is slated to open during fall 2012. For more information, contact Donahue Schriber, 200 East Baker Street, Suite 100, Costa Mesa, CA 92626; 714545-1400, Fax 714-545-4222; Email: donahueschriber@dsrg.com; Web site: www.donahueschriber.com. Lee & Associates Temecula Valley is preleasing The Diamond, a 55-acre mixeduse project being developed in phases at the intersection of Diamond Drive and Lakeshore Drive in Lake Elsinore, CA. The first phase of the project will feature a 200,000 sq.ft. lifestyle component, and anchor and junior anchor spaces are available along with pad sites. The initial phase is slated to open during the middle of next year. For more information, contact Brian Bielatowicz or Andrew McLean, Lee & Associates Temecula Valley, 25240 Hancock Avenue, Suite 100, Murrieta, CA 92562; 951-445-4515/4521; Emails: bbielatowicz@lee-associates.com and amclean@lee-associates.com; Web site: www.lee-associates.com. www.dealmakers.net
The
Mid-America Real Estate Corp. is preleasing a center located at the intersection of Route 59 and Theodore Street in Joliet, IL. Shop and anchor spaces are available along with outlots. For more information, contact Joe Herron or Kevin McLoughlin, Mid-America Real Estate Corp., One Parkview Plaza, 9th Floor, Oakbrook Terrace, IL 60181; 630-954-7370/7341, Fax 630-954-7304; Emails: jherron@midamericagrp.com and kmcloughlin@midamericagrp.com; Web site: www.midamericagrp.com. Carpionato Properties, Inc. is developing Stonehill Marketplace, an 875,000 sq.ft. power center project being developed in phases at the intersection of Route 6 and Atwood Avenue/Route 5 in Johnston, RI. Space is available. Home Depot, Burlington Coat Factory, PetSmart, Deal$ and BJ’s Wholesale Club anchor the project. Cotenants include Ruby Tuesday, Sleepy’s and Aspen Dental. Area demographics include a population of 418,795 within seven miles earning $63,277 as the average household income. The average daily traffic count is 64,100 vehicles. For more information, contact Mark Briggs or David Steinberg, Carpionato Properties, Inc., 1414 Atwood Avenue, Johnston, RI 02919; 401-273-6800; Emails: mbriggs@carpionatoproperties.com and dsteinberg@carpionatoproperties.com; Web site: www.carpionatoproperties.com. ReCor Realty Advisors, LLC is redeveloping Shoppes at City Centre, located along U.S. Highway 1 in North Palm Beach, FL. Anchor space is available along with endcaps and inline spaces. Cotenants include Carrabba’s Italian Grill, Sung Kong Chinese Restaurant, Nails By T, The UPS Store, Supercuts, Big Apple Pizza & Pasta, Salon TreLyn and PGA Flowers. Area demographics include a population of 126,958 within five miles earning $103,919 as the average household income. The average daily traffic count is 66,500 vehicles. For more information, contact Roxanne Register or Lynette Green, ReCor Realty Advisors, LLC, 1201 East Hillsboro Boulevard, Deerfield Beach, FL 33441 or 11255 U.S. Highway 1, North Palm Beach, FL 33408; 954-571-2535, Fax 954-5713527; Emails: roxanne@recorrealty.com and lynette@recorrealty.com; Web site: D M www.recorrealty.com.
Dealmakers
read this issue on your mobile browser at Dlmkrs.com October 29, 2010
page 3
Observations & Conversations “The trend of national chains making urban locations work outside of a cookie-cutter prototype will continue, mainly because many are close to reaching their saturation point in the suburbs.” This issue is being distributed at the ICSC’s Chicago Dealmaking. Chicago is a great retail market, but it’s an extremely difficult place to assemble land for development, and since it’s one of the most political urban beasts I’ve ever seen, getting a nod of approval from city officials to local grassroots organizations takes time and lots of patience. That’s why Walmart made big news when they decided to break the barrier with two Supercenters in Chicago and a promise to open two dozen stores in the city. Now I hear that Walmart is looking at spaces from as small as 5,000 sq.ft. for a convenience store concept to 20,000 sq.ft. for their supermarket chain, and not only in Chicago, but also in other major urban markets. Target is another chain looking at possibly opening smaller stores with a footprint of 60,000 sq.ft. in urban areas, and Kohl’s is also rethinking their store layout so they can tap into densely-populated urban areas – they reduced their footprint to 90,000 sq.ft. in order to gain entry into the Queens, NY market. Not only do the barriers to finding large enough spaces – even for a smaller footprint – in an urban setting create huge challenges, but the costs associated with operating an urban store are astounding. Retailers that look to open anchor stores in urban cities obviously believe that the sales volume from these settings will far exceed those of their suburban counterparts, and historically this theory has borne out to be true. If you live long enough, you get to see most things come full-circle, and watching chains that were created to reach a rural and suburban population base reinvent their model to bring it to urban storefronts is interesting. My hunch is that the trend of national chains making urban locations work outside of a cookiecutter prototype will continue, mainly because many are close to reaching their saturation point in the suburbs. As the retail landscape of our urban cities changes, so are the traditional regional malls. In the old days, when the concept of a regional mall was still new, developers and leasing agents of malls were the most hoitytoity set within the retail real estate industry. Talk about snobbery in leasing! Tenants would grovel and pay whatever was demanded just to get a location at “the mall.” Again, things are coming full-circle, and now I’m seeing mall developers who 20 years ago would have scoffed at the idea of anything but a department store anchor are now doing deals with not-so-glamorous concepts. Westfield, as an example, is bringing a 20,000 sq.ft. Aldi supermarket to co-anchor its Chicago Ridge Mall, an 800,000 sq.ft. enclosed project located just outside the city, along with Sears, Kohl’s and Carson Pirie Scott. This marks Aldi’s first mall location in the states with its conversion of a former Steve & Barry’s space, and the discount supermarket chain is slated to open May of next year. Westfield is known for having grocery anchors in its projects outside of the states, and the developer is looking to replicate this type of co-anchor in more of its stateside malls. page 4
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Malls bringing in supermarkets as co-anchors is interesting enough, but the growth of concepts catering to the Latino/Hispanic neighborhoods locating in malls is amazing. I’m not talking about the little 5,000 sq.ft. to 10,000 sq.ft. mercados; some of these chains are operating 50,000 sq.ft. and larger stores. Westcor, as an example, is a mall-player that’s tossing its mall leasing playbook of yesterday with the addition of Mercado de Los Cielos, a 77,000 sq.ft. concept that caters to Latinos with 220 small spaces subleased to vendors. The new concept is taking over a former Mervyn’s at the Phoenix Desert Sky Mall, a 900,000 sq.ft. regional mall. Another mall looking to create a similar Latino-oriented venue is Eastland in Charlotte, NC. The concept, called El Mercado, got a few raised eyebrows from locals when it was proposed to help fill the vacant interior of the mall. Grupo Zocalo, a subsidiary of Boxer Property, is the creator of the El Mercado concept and has rejuvenated the former Seminary South, a failing one million sq.ft. enclosed mall in Ft. Worth, by retenanting it with Latino-oriented incubator tenants and hosting community events. Now called La Gran Plaza, the project is well-leased and anchored by Fiesta Mart, Cinema Latino and Burlington Coat Factory. (On a personal note, Seminary South was where I met Ted, 30 years ago, when he was a consultant for Homart Development, the original developer of the project. Geez, I’m getting old!) Costco is another nontraditional anchor entering the mall arena, as are medical urgent-care facilities. I think these are much better ideas than some of the remedies mall owners tried a decade ago, when they brought huge entertainment venues to struggling projects as the panacea to bring in traffic. Leasing mall space to a grocery store, even though they typically pay little rent, contribute little, if anything, toward NNN charges, and their build-out is fairly expensive (as is the retrofit if the landlord has to release the space down the road to a different use), makes a hell of a lot more sense than spending millions to put in a movie theater, bowling alley or themed restaurant. I’m running out of space, so to wrap it up: Make sure you check out our two profiles in the issue. We had interesting interviews with the folks at the X Team and RCS that I’m certain you’ll enjoy, along with some great leads. Also, a friendly reminder: To post your property for lease, sites for sale or acquisition requirements for FREE, just go to www.dealmakers.net/FreePublicity.aspx and we’ll let the retail real estate world know that you’ve got some deals. Stop by and see us at the Chicago Dealmaking. If we miss you in the Windy City, then we hope to see you at our next stop at the ICSC show in Texas!
www.dealmakers.net
Ann O’Neal, Publisher
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x team international
Profile — A monthly column featuring retailers and retail real estate companies
Networking small firms for big results
Adam Taliercio X Team International is an international network of retail real estate brokerage firms. The organization’s members specialize in tenant, developer and landlord representation, as well as distressed property consulting, dispositions and workouts and retail investments. Team members utilize their network to share information, ideas and even clients to better serve the needs of their respective markets. The group was first formed in late 2001, when co-founders David Baker, principal of Baker Storey McDonald in Nashville, TN, and Jim Stokas of Stokas Realty Advisors in Detroit, MI, were planning to start their own companies after having worked together at CB Richard Ellis and Trammel Crow. They both appreciated the ability of large organizations to share information across the country between different offices, but wanted to operate on a smaller scale. “As we were leaving, we decided to create a group doing just that,” said Baker. “Jim took the West, I took the East, and we contacted people we knew were best-in-class in their markets and were our friends and put together a network.” The Team’s first meeting took place in Chicago, IL, and consisted of about six to eight people. “Our goal was to be totally non-bureaucratic, non-corporate, and share information across the country,” said Baker. The X Team name was coined due to the members’ tenure at larger corporate organizations – “ex” employees of various companies. “Everybody had done their corporate time, so we just became the X Team, and it stuck,” explained group treasurer and board member Peter Framson, founding principal of Green Light Retail Real Estate Services in Washington, DC. “We were taking advantage of the fact that we were all seasoned people with great relationships with developers and retailers around the country, and had the ability to hand information and ideas off into different cities.” The Team now has 35 affiliate companies, including two in Canada and one in London, and about 160 individual members within those affiliates. The organization does not maintain a central office or a salaried set of employees, and remains an all-volunteer organization, with administration handled by its members. “We wanted to run this thing on a shoestring and not create a bureaucracy,” Framson said. “The object was to create an ongoing business model of people relevant in their markets and the business, and keep our ear to the rail, paying attention. Even at 35 companies, I don’t think that has changed at all.” The organization recently added an affiliate in Cincinnati, and maintains a “wish list” of markets that it would like to have a presence in – at the moment, the Team is seeking affiliates in San Diego, Phoenix and Toronto. Other locations will also be considered, as long as the market in question is strong and substantial enough to justify a member. The group prefers markets serving at least one million people in areas where large retail chains might be headquartered. Potential new markets must also be located sufficiently far from any existing member’s territory. “We have a market protection policy,” explained X Team president Nelson Wheeler, of Strategic Retail Advisors in Newport Beach, CA. “When we accept a member in a certain geography, they have an exclusive X Team right to that geography.” New members are considered on a case-by-case basis, allowing the group to admit only companies that are not only best-in-class within their market, but also a good fit for the group itself. All members need to fit certain criteria: a solid reputation for ethics and fair dealing, experience, relationships with any existing X-Team members and page 6
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a strong client list are all deciding factors, along with a number of interviews conducted by Team partners. “The existing membership has the ability to accept and deny new members,” Framson explained. “If you’re already an active, relevant member and you have objections to someone joining, that company’s not going to become part of our organization. We respect the wishes and opinions of our membership. A lot of work goes into this; it’s a very solid and enjoyable professional, social and familial atmosphere. We need to get along and be able to enjoy each other’s company personally and professionally.” Limiting membership to smaller, boutique organizations allows the team to maintain a focus on retail services, rather than dealing with larger organizations that spread out their resources to handle other types of real estate. The average X Team member has 21 years in the retail business, Framson said. “I always make the joke that I can’t even spell ‘office’ or ‘industrial.’ I’m sure that there are some of us that do a little office or industrial, but our DNA is retail.” The primary function of the organization is that of an easily-accessible information resource, for everything from a quick emailed question to a reliable stable of companies to use as referrals. The team hosts regular meetings on both regional and national levels, and also hosts monthly regional conference calls for members to discuss their markets and industry events. X Team also hosts a large annual gathering consisting of two to three days of networking, meetings and socializing, and its members also meet regulalry at ICSC shows. “We see each other as much or more than most would imagine other companies are speaking with one another,” Framson said. These frequent meetings and conversations help to strengthen and maintain a friendly bond among members, which Baker said is perhaps the most important characteristic of the group. “We’re a bunch of people who are pretty good friends,” he said. “When these meetings occur, it’s a way for people to get to know each other better. For us to be able to be a cohesive group, it just makes a huge difference.” The largest benefit a member company receives from its affiliation with X Team is the ability to share information and market knowledge with members, Baker said. However, the organization also shares mapping, demographics and even human resources services or consultation. “That’s one of the things the X Team is very good at: we’re all involved in small businesses and able to share [thoughts on] how to run a company,” he added. Relationships and activities within the group are also a point of pride: One of the company’s most notable successes, Baker said, is a sub-group called X Next, which was formed by a number of younger Team members, each with seven years or less in the industry. X Next now meets regularly in addition to full X Team gatherings, holds regular conference calls, and invites seasoned industry veterans to talk to them about the business. The Team is also often able to help people find jobs, or help companies to find strong prospective employees. “In recent times, I can’t tell you how many people we know who have been on the street with their resumes,” Framson said, “and we have the ability to help those people. We hear that someone is hiring, and we’re able to pass that on. We’re able to get the right people on the phone and pass resumes along. We’re not in the headhunter business, but we are in the people business, and that inures to our collective benefit over time.”
www.dealmakers.net
(continued on page twenty-six)
Looking for Acquisitions • Leasing Great Sites
LEASING
Rivercrest Realty has space available in anchored shopping centers along the East Coast. For leasing, contact: Debbie Lewis FL, GA, Eastern & Central SC (919) 518-2000 dlewis@rivercrestrealty.com Beverly Keith DE, Western NC, Western SC, TN, VA, WV (919) 518-2000 bkeith@rivercrestrealty.com Nicholas Schuman-Werb Central and Eastern NC, Southern VA (919) 518-2000 nschuman@rivercrestrealty.com Helen Vitaliano New York Locations (718) 980-7684 helenvitaliano@si.rr.com
Visit us at the ICSC Southeast Conference! Booth 108
ACQUISITIONS
Rivercrest Realty is actively pursuing acquisitions of retail centers located East of the Mississippi. Acquisition Requirements: • Grocery / Shadow-Anchored • $5 Million Minimum Deal Forward proposals to: Stan Werb (919) 846-4046 swerb@rivercrestrealty.com
www.rivercrestrealty.com 8816 Six Forks Road, Suite 201 Raleigh, NC 27615 Phone: (919) 518-2000 Fax: (919) 424-0001
STATE
CENTEr
AVAILAbLE SF
NEW YOrk Staten Island Staten Island
Coral Island Shopping Center Tottenville Square
DELAWArE Seaford
Sussex Plaza
FLOrIDA Wilton Manors
Shoppes of Wilton Manors
GEOrGIA Atlanta Augusta Macon
Lenox Village Southpointe Plaza Walnut Creek Plaza
MArYLAND Landover Pocomoke City Fruitland
Landover Crossing East Town Plaza Southtowne Commons
1,999 & 97,421 SF Fully Leased Fully Leased
NOrTH CArOLINA Advance Chapel Hill Charlotte Charlotte Durham Durham Forest City Hendersonville Raleigh Shelby Smithfield Southport Taylorsville Winston-Salem
Kinderton Place Timberlyne Archdale Marketplace Royal Plaza Parkway Plaza The Village Hillside Plaza Highlands Square Millbrook Collection Creekside Plaza Smithfield Plaza Tidewater Plaza Taylorsville Hanes Commons
1,325 & 1,773 SF 1,201 – 9,617 SF 1,200 – 3,971 SF 558 – 7,553 SF 1,393 – 3,041 SF 2,531 – 11,488 SF 3,016 SF 2,508 – 8,502 SF 1,227 – 2,789 SF Fully Leased 1,514 & 3,023 SF Fully Leased 1,168 – 8,537 SF 1,117 & 18,294 SF
SOUTH CArOLINA Boiling Springs Columbia Florence Gaffney Georgetown Greenville Greenville Greenville Greenwood Greer Lake Wylie Lexington Lexington Myrtle Beach Myrtle Beach Surfside Beach
Boiling Springs Center Northpointe Commons Southside Commons Piedmont Plaza Plantation Plaza Haywood Plaza Shoppes at Woodruff White Horse Commons Westwood Plaza Hillview Plaza Landing Station East Towne Centre Village Square Northwood Plaza Plantation Point Surfside Commons
1,593 – 3,009 SF Fully Leased 1,746 SF 1,502 – 3,213 SF 1,997 SF 1,020 – 10,453 SF 1,482 – 4,553 SF 4,007 SF 2,017 – 12,579 SF 2,018 & 3,007 SF 1,217 – 5,974 SF Fully Leased 792 – 2,808 SF 1,122 – 32,259 SF 1,552 – 4,128 SF 4,023 SF
TENNESSEE Cookeville
Cumberland Station
VIrGINIA Bluefield Covington Harrisonburg Martinsville Radford South Boston
Ridgeview Plaza Riverbend Garbers Crossing Mountainview Plaza Peppers Ferry Centre South Boston
3,036 – 30,012 SF Fully Leased 3,600 SF 3,010 SF 2,776 SF 1,202 – 2,406 SF
WEST VIrGINIA Princeton
East River Plaza
3,027 & 24,560 SF
2,768 – 5,007 SF 1,164 – 8,002 SF 2,992 SF 3,615 – 32,524 SF 1,073 – 3,483 SF 1,712 SF 1,997 – 4,037 SF
4,951 SF
rcs real estate advisors
Profile — A monthly column featuring retailers and retail real estate companies
Retail real estate through the eyes of retailers
Adam Taliercio RCS Real Estate Advisors is a retail real estate advisory firm operating offices in New York, NY and Chicago, IL. Founded in 1981, the company specializes in analyzing real estate portfolios, reducing occupancy costs and functioning as an ”outsourced” real estate department for retailers. The vast majority of employees at RCS – around 90% – have a background in retail, ranging from positions as regional managers to general counsels or even owners of retail companies. “We’re retailers first,” said company founder and president Ivan L. Friedman. “We deploy our retail expertise through the lens of real estate.” The changes brought by the recession have done little to impact the way the company does business, he said, although it has affected the amount of activity within the company’s areas of expertise. For example, more people are now outsourcing their real estate practices – hiring a third party to manage the retailer’s entire real estate portfolio – and RCS has seen an increase in this aspect of their business as of late. “We have always been focused on our clients, and our practice is still the same, it’s just that it’s shifting and there’s Ivan L. Friedman Founder and President more to do in certain categories than others,” he said. A company outsourcing its real estate department to RCS benefits by saving internal payroll dollars, but also by having an outside perspective on their real estate from an organization still viewing their portfolio through the eyes of a retailer. “We don’t have any areas that we don’t deal with,” Friedman said. “And it’s a new look at their portfolio. We point out opportunities to companies that they never really saw. You have to look at every aspect of the real estate; it’s not only renewals and new stores.” One of the company’s most notable outsourcing clients at the moment is Disney Stores, which RCS has been handling since May 2008. The retailer first approached the company with around 370 stores, and asked them to determine which 200 to 225 should be kept open based on sales numbers, profitability, location and footprint, then to renegotiate the rents on those stores with their respective landlords. The job was completed in about eight weeks, Friedman said, which so impressed the retailer that they outsourced their entire real estate department to RCS. The company now handles renegotiation of leases, site selection for new locations, negotiation of lease terms, and everything else Disney needs for their retail portfolio. “They’ve just created a new prototype store which we’re just rolling out, and it’s the most exciting retail [concept] out there,” he said of Disney. Plans call for 12 stores in this new concept to open this year, including three high traffic street front locations: State Street in Chicago, IL, Stockton Street in San Francisco, CA, and in Times Square in New York, NY. The new concept is performing extremely well, Friedman said, adding that Disney plans to open and remodel as many as 25 stores next year. About 60% of RCS’ assignments are project-specific, with the remaining 40% consisting of ongoing projects for clients who either page 8
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outsource their portfolio or return multiple times with individual projects. “Every time they have a project they come back,” Friedman said, “and they can last for years and years. Our clients feel that any project they give us will be done expeditiously and cost-effectively.” RCS recently completed a lease termination project for Movado Group, Inc., which maintains a strong presence in outlet centers but decided to exit their full-price boutiques nationwide. The company was able to terminate the leases at all of the company’s non-outlet locations – mostly mall stores and some street fronts – within about two months, Friedman said. “This project was very successful; everybody was very happy with the results.” The company has seen an increase in the restructuring aspect of their business as well, as retailers have turned to adjusting their real estate portfolios rather than filing for bankruptcy as economic circumstances have begun to stabilize. “More and more people want to get out of bad stores,” Friedman said. “Rent relief won’t do it, so they want lease terminations. The amount of companies coming to us for terminations over the past few years has been significant.” He added that the company believes the best approach for these types of transactions is to work directly with the landlord and buy out cost-effectively. “That way, you’re done with it; you’re not subletting, you’re off the liability of the lease. It can’t come back to you at some other point.” Rent relief has been more difficult to come by this year as opposed to 2008 or 2009, as retailers have again begun to show some profit. Landlords see this profitability and are less inclined to negotiate on rents as a result, Friedman said. “In 2009, there was a different atmosphere: landlords were cooperative because they realized how bad things were getting. It’s been more difficult to get the landlords to move [this year].” However, he added, RCS maintains strong relationships with the landlords it works with, due to a long-standing reputation for integrity. “We’ve been around since 1981, and when we deal with landlords, we’re straight shooters,” he said. “They know that when we tell them that a retailer needs help, that retailer needs help. And, because of our varied business with outsourced real estate and growth and development, we’re giving them new locations as well. There’s something of a balance there. But we’ve been around the longest of anybody out here, we deal at the highest levels of the landlord community, and there’s a mutual respect that we try to maintain.” Friedman referred to the Midwest as one of the areas of the country most severely impacted by the recession. The performance of the dollar per square foot of retail sales space is far below the national average, he said, and sales trends are not increasing on par with the rest of the country. Also, retail vacancy is at a higher rate than the national average throughout the region, notably in Indiana, Michigan, Missouri and Ohio. Some portions of the Midwest are doing better than others, such as Illinois and Iowa, but Friedman still suggested that the road ahead for the region may be a difficult one. “Improvement is incremental,” he said. “There’s not going to be any great boom; everybody’s very cautious right now. Nobody’s out there opening up 400 stores anymore. I think you’re going to see improvements…but if there’s a double-dip this Christmas – another 15% decline in sales – we’ll have a whole new world come January 1st.” For more information, contact Ivan Friedman, RCS Real Estate Advisors, 460 West 34th Street, New York, NY 10001; 212-239-1100 Ext. 200, Fax: 212-268-5484; Email: ifriedman@rcsrealestate.com; D Web site: www.rcsrealestate.com. M
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The Dealmakers
Who’s Opening and Where QuickTrip Corp. (918-615-7700) plans to open a QuikTrip convenience store at Lincoln Court, a 158,000 sq.ft. community shopping center located along Little Road in Arlington, TX. The store, which will feature gasoline facilities, will occupy a site currently tenanted by a 31,824 sq.ft. former theater slated for demolition. The store is slated to open during the first quarter of next year, and will join LA Fitness at the center. The company currently operates 550 locations throughout nine states nationwide. Michael Kors (800-908-1157) plans to open a store in a former Cartier site at Pacific Place, located in Seattle, WA, as part of a plan to open 30 locations nationwide by next spring. The store will offer ready-to-wear apparel as well as footwear and accessories, and is slated to open in time for the holiday season. Publix Super Markets, Inc. (863-688-1188) will open a 45,600 sq.ft. Publix store at Chelsea Crossroads, located in Chelsea, AL. The company also plans to open a 45,600 sq.ft. store at South Park Center, located at the intersection of U.S. Highway 231 and South Park Drive in Pell City, AL. Both stores will also feature a pharmacy.
Trader Joe’s Co. (626-599-3700) will open a Trader Joe’s store at a former Albertsons along Commercial Street Southeast in South Salem, OR. The store is slated to open next year. The company also plans to open a store along Woodruff Industrial Lane in Greenville, SC. The store will be the company’s first in the state, and is slated to open by year’s end. The company currently operates 330 grocery stores nationwide throughout 25 states. Stater Bros. Markets (909-733-5000) will open a 43,000 sq.ft. Stater Bros. supermarket at a shopping center the company is building in Grand Terrace, CA. The store will replace an existing, smaller location in the area, and will feature deli, bakery, fish and floral departments, as well as a pharmacy and expanded meat and produce departments. The store is expected to open during October of next year. The company currently operates 167 locations throughout southern CA. Kohl’s Corp. (262-703-7000) plans to open a 100,540 sq.ft. Kohl’s in a Walmart site to be vacated early next year at Hunting Hills Plaza, located along U.S. Highway 220 in Roanoke, VA. The company currently operates 1,089 locations nationwide throughout 49 states.
GameStop Corp. (817-424-2000) will open a GameStop location in a retail building currently under construction along B Drive North in Emmett Township, MI. Verizon Wireless and Great Clips are also slated to open at the facility. The stores are slated to open during December. Smashburger Master, LLC (303-633-1500) plans to open Smashburger restaurants throughout IL. Planned openings include restaurants in Boilingbrook and Darien scheduled to open during the winter, a location in Arlington Heights slated to open next spring, and a Schaumburg restaurant projected to open next winter. Wegmans Food Markets, Inc. (585-3282550) plans to open a Wegmans grocery store at Shops 9@20, located in Northborough, MA. The store will be the company’s first in the state and is slated to open next fall. BJ’s Wholesale Club and Kohl’s are also slated to open at the center next fall. The company also plans to open a store at the intersection of Snowden River Parkway and McGaw Road in Columbia, MD. Construction on the store is slated to begin next year, with an opening anticipated for 2012.
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Who’s Opening and Where Smart & Final, Inc. (323-869-7500) plans to open a 40,000 sq.ft. SmartCo in an existing Smart & Final location combined with a former Office Depot at Twin Peaks Shopping Center, located off El Toro Road in Lake Forest, CA. The store is a new concept by the company that combines features of a warehouse store, supermarket and farmers market, and will be the company’s first location for the concept in the state. The location will feature a full-service meat counter and an on-site bakery, and is slated to open by year’s end. The company operates 247 Smart & Final locations throughout AZ, CA, ID, NV, OH and WA, as well as northern Mexico. The Salvation Army (845-620-7200) will open a 33,000 sq.ft. Salvation Army thrift store in a former auto dealership located along Lafayette Road in Portsmouth, NH. CVS Caremark Corp. (877-265-7325) will open a CVS pharmacy at the intersection of County Street and Hart Street in Taunton, MA. The store will replace an existing location at the intersection and will feature a drive-thru. The store is slated to open early next summer.
Total Wine & More (301-795-1000) will open a store in a former Cost Plus World Market at The Shoppes at Isla Verde, located along State Road 7 in Wellington, FL. The store is slated to open during spring 2011. The company will also open a store in a former Circuit City at Vista Plaza, located in Jensen Beach, FL, next month, and also plans to enter into the CA and NV markets. The company currently operates 66 locations, offering wine, spirits and beer, nationwide, including 14 locations throughout FL. Safeway, Inc. (925-467-3000) will open a 56,000 sq.ft. Safeway supermarket situated on eight acres along with an additional 19,000 sq.ft. of retail space along Hamilton Avenue in Campbell, CA. The store, which will replace an existing Safeway located along Winchester Boulevard in San Jose, will feature gasoline facilities and is slated to open early next year. Lululemon Athletica, Inc. (604-732-6124) plans to open between 20 and 25 lululemon stores next year. The company currently operates 130 locations, offering yogainspired apparel, throughout North America and Australia.
Stage Stores, Inc. (713-667-5601) plans to open a Goody’s store in Morehead, TX. The store, offering name-brand and private-label apparel, footwear, accessories, home décor and gifts, is slated to open during the fall. The company currently operates 775 locations nationwide throughout 39 states, trading as Goody’s, Bealls, Palais Royal, Peebles and Stage. Save-A-Lot Food Stores (314-592-9100) plans to open a Save-A-Lot grocery store in a former Buster’s IGA located along South Eufaula Avenue in Eufaula, AL. The store is slated to open during early December. The company currently operates 1,200 locations, offering groceries, household and health and beauty products, pet food and general merchandise, nationwide throughout 39 states, including 13 locations throughout AL. Meijer, Inc. (616-453-6711) will open a 90,000 sq.ft. Meijer grocery store in a former Cub Foods site at Winston Plaza, a 375,000 sq.ft. shopping center located in Melrose Park, IL. The store is less than half the size of a traditional Meijer superstore and will feature full-service grocery and pharmacy departments as well as a smaller assortment of general merchandise. The location is slated to open next June. DM
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Cedar Shopping Centers, Inc. DEVELOpERS, OwNERS AND MANAgERS
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Buyers and Sellers Calkain Cos. is selling a 12,858 sq.ft. Miller’s Ale House situated on 2.4 acres along Irlo Bronson Memorial Highway in Kissimmee, FL. The tenant is bound to a NNN lease slated to expire during December 2025 featuring four, five-year options and 2% annual rent escalations beginning during 2016. The average daily traffic count is 55,000 vehicles. The company is also selling a 4,400 sq.ft. M&T Bank situated on 1.3 acres along Routzahns Way in Frederick, MD. The tenant is bound to a 12-year, NNN lease set to expire during November 2018 featuring four, five-year options and a 15% rent escalation in 2011 and at each option. Area retail includes Clemson
Corner, featuring Lowe’s Home Improvement and Wegmans, and Market Square at Frederick, featuring Target. The average daily traffic count is 70,000 vehicles. The NOI is $150,600. The asking price is $2.564 million with a Cap rate of 5.85%. For more information regarding the Kissimmee property, contact Patrick Nutt, Calkain Cos.; 813-282-6000; Email: pnutt@calkain.com; Web site: www.calkain.com. For more information regarding the Frederick property, contact David Sobelman or Rick Fernandez; 813-282-6000 or 703-7874714; Emails: dsobelman@calkain.com and rfernandez@calkain.com.
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LaKritz-Weber & Co. negotiated the sale of a 54,000 sq.ft. former Kroger located along Colson Street in Dearborn, MI. The company represented the seller and Signature Associates represented the buyer, Chase Cash ‘n Carry, in the transaction. For more information, contact William LaKritz, LaKritz Weber & Co., 29100 Northwestern Highway, Suite 240, Southfield, MI 48034; 248-353-9494. The Boulder Group negotiated the sale of a 14,490 sq.ft. Walgreens located along Northwest Highway in Barrington, IL. Walgreens Barrington 1, LLC acquired the property from a private entity for $9.275 million. The company represented the seller in the transaction. The company also negotiated the sale of a CVS ground lease located along West Belmont Avenue in Chicago, IL. A private entity acquired the property for $3.63 million. The company represented the seller in the transaction. For more information regarding the Barrington property, contact Randy Blankstein, The Boulder Group; 847-5620003; Email: randy@bouldergroup.com. For more information regarding the Chicago property, contact Jimmy Goodman, 847-5628500; Email: jimmy@bouldergroup.com. The Goldstein Group is selling a 1,900 sq.ft. retail building situated on 0.05 acres at the intersection of Bergen Line Avenue and 68th Street in Guttenberg, NJ. Area retail includes Blimpie, TD Bank, Taco Bell, Burger King, Papa John’s, Pizza Hut and Subway. Area demographics include a population of 271,694 within three miles earning $71,980 as the average household income. For more information, contact Matt Flath, The Goldstein Group, 45 Eisenhower Drive, Paramus, NJ 07652; 201-7039700, Fax 201-703-9678; Web site: www.thegoldsteingroup.com. InterState Commercial is selling a 0.52acre parcel located at the intersection of Route 70 and Cooper Avenue in Marlton, NJ. Area demographics include a population of 164,165 within five miles earning $106,548 as the average household income. The average daily traffic count is 40,000 vehicles. For more information, contact Ryan W. Turner, InterState Commercial, 14000 Horizon Way, Suite 100, Mt. Laurel, NJ 08054; 856-439-9200, Fax 856-439-0404; Email: turner@ic-re.com. (continued on page twenty-four)
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Supermarket Chains Expand Nationwide (continued from page one)
Sprouts Farmers Market operates 54 locations throughout AZ, CA, CO and TX. The supermarkets, offering natural and organic grocery items, imported cheeses and deli, meat and seafood departments, as well as bulk food items, occupy spaces of 24,000 sq.ft. to 30,000 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 15 years. For more information, contact Seth Brown, Sprouts Farmers Market, 11811 North Tatum Boulevard, Suite 2400, Phoenix, AZ 85028; 480-814-8016, Fax 480-814-8017; Email: sethbrown@sprouts.com; Web site: www.sprouts.com. Aldi operates 1,000 locations nationwide. The discount supermarkets occupy spaces of 16,000 sq.ft. to 19,000 sq.ft. in freestanding locations and endcaps of shopping centers. Growth opportunities are sought throughout Long Island, NY and the surrounding boroughs during the coming 18 months, with representation by Ripco Real Estate. The company will also consider acquiring sites. For more information, contact Jeremy Isaacs, Ripco Real Estate, 420 Jericho Turnpike, Suite 100, Jericho, NY 11753; 516-933-8880, Fax 516-933-2514; Email: jisaacs@ripcony.com; Web site: www.ripcony.com. C&K Market, Inc. trades as Ray’s Food Place, Shop Smart and C&K Market at 60 locations throughout CA and OR. The supermarkets occupy spaces of 20,000 sq.ft. to 46,000 sq.ft. in freestanding locations and strip centers. Growth opportunities are sought throughout the existing markets during the coming 18 months. Typical leases run 20 years with two, five-year options. A vanilla shell is required. Preferred demographics include a population of 20,000 within five miles. Major competitors include Safeway. For more information, contact Kevin Crumley, C & K Market, Inc., 615 Fifth Street, Brookings, OR 97415; 541-469-3113, Fax 541-469-6717. Safeway Stores, Inc. trades as Canada Safeway Ltd. at 214 locations throughout Canada. The supermarkets occupy spaces of 40,000 sq.ft. to 60,000 sq.ft. in freestanding locations and power and strip centers. Growth opportunities are sought throughout western Canada during the coming 18 months. For more information, contact Earl Brown, Safeway Stores, Inc., 1020 64th Avenue Northeast, Calgary, Alberta, Canada, T2E 7V8; 403-730-3500, Fax 403-730-3902; Web site: www.safeway.com. DM www.dealmakers.net
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October 29, 2010
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Lease Signings Centro Properties Group (212-869-3000) signed a lease with Fantastic Sams for 1,000 sq.ft. at Southgate Shopping Center, located at the intersection of U.S. Highway 19/State Road 55 and Marine Parkway in New Port Richey, FL. The company also signed a lease with Perfect Purse Jewelry & Gifts for 1,000 sq.ft. at Westridge Court Shopping Center, located at the intersection of Route 59 and Aurora Avenue in Naperville, IL. The company also signed a lease with Seafood Express at Roundtree Place Shopping Center, located at the intersection of Ellsworth Road and South Hewitt Road in Ypsilanti, MI. The company also signed a lease with Baron’s Barber Shop for 1,400 sq.ft. at Ventura Downs Shopping Center, located near the intersection of East Osceola Parkway and Buenaventura Boulevard in Kissimmee, FL. The company also signed a lease with European Wax Center for 1,600 sq.ft. at Baybrook Gateway Shopping Center, located at the intersection of Interstate 45/Gulf Freeway/ Highway 75 and West Bay Area Boulevard in Webster, TX. The company also signed a lease with La Ritz Salon & Spa for 4,003 sq.ft. at Conyers Plaza, located at the intersection of Old Covington Highway Southeast and Dogwood Drive Southeast in Conyers, GA.
Local Qualified Prospects Delivered… Faster Than A Speeding Bullet!
Winick Realty Group, LLC (212-792-2600) negotiated a lease with My.Suit for 2,300 sq.ft. along Broad Street in the Financial District of Manhattan, NY. The company also negotiated a lease with Lomography for 2,400 sq.ft. of ground- and lower-level space along East 23rd Street between Lexington Avenue and Park Avenue South in Manhattan, NY. The company also negotiated a lease with Syms for 34,000 sq.ft. along Fifth Avenue between 44th Street and 45th Street in Manhattan, NY. The store will occupy 6,500 sq.ft. of ground-floor space, 9,500 sq.ft. of lower-level space and 18,000 sq.ft. of second-floor space.
for shopping centers, office & medical bldgs.
Goodman Real Estate Services Group, LLC (216-381-8200) negotiated leases with Robeks at OfficeMax Plaza in Fairlawn, OH and at The Bailey Building in Lakewood, OH. The company also negotiated a lease with Home Emporium for 125,469 sq.ft. in Springdale, OH. The company also negotiated a lease with Last Diet Ever at Avon Pointe, a mixed-use center situated on 20 acres in Avon, OH. JBG Rosenfeld Retail (301-657-0700) negotiated a lease with Bed Bath & Beyond for 56,500 sq.ft. along Chain Bridge Road in Vienna, VA. Sax Realty represented the tenant in the transaction.
(714) 374-0222 www.tenantsbymail.com
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Konover South, LLC (954-354-8282) negotiated a lease with Simply Fashions for 2,800 sq.ft. at Inverrary Falls, an 85,000 sq.ft. center located at the intersection of Oakland Park Boulevard and Inverrary Boulevard in Lauderhill, FL. Cotenants at the center include Bank Atlantic, Golden Krust, Gourmet China, H&R Block, Little Caesar’s, Sarah’s Beauty Supply & Accessories, The UPS Store, Wachovia Bank and Wireless Tech. Transwestern Retail (202-775-7000) negotiated leases with Pinkberry for space along Connecticut Avenue Northwest in Washington, DC and at Fairfax Corner, located in Fairfax, VA. The company also negotiated a lease with Virginia Center for Cosmetic and General Dentistry along North Fillmore Street in Clarendon, VA. The company also negotiated a lease with Paul Bakery for 3,220 sq.ft. at Market Square located along Pennsylvania Avenue Northwest in Washington, DC. Prudential Douglas Elliman Real Estate (212891-7000) negotiated a lease with Florsheim by Duckie Brown for space along Mercer Street between Spring Street and Prince Street in New York, NY. The tenant will occupy 1,850 sq.ft. of ground-level space along with 1,300 sq.ft. of basement space. Parker & Associates, Inc. (949-916-8304) negotiated a lease with Dollar Tree for a 12,123 sq.ft. anchor space at Doheny Village Center, located along Doheny Park Road in Capistrano Beach, CA. illi Commercial Real Estate (818-501-2212) negotiated a five-year lease with California Check Cashing for 1,988 sq.ft., at the intersection of West Florence Avenue and Crenshaw in Los Angeles, CA. Sierra Realty Corp. (212-490-1002) negotiated a 20-year lease with Flight Club for 8,600 sq.ft. along Broadway in New York, NY. The company represented the tenant in the transaction. Nassimi Realty, Inc. (212-643-8080) signed a lease with CitiTrends for space at Park Plaza, a 115,000 sq.ft. center located along Ft. Campbell Boulevard in Hopkinsville, KY. Cotenants at the center include Big Lots, Dollar General and Peddler’s Mall. Sperry Van Ness – Miller Commercial Real Estate (410-543-2440) negotiated the following leases with Verizon Wireless: for 3,300 sq.ft. along North Salisbury Boulevard in Salisbury, MD, and for 4,500 sq.ft. along North Dual Highway in Seaford, DE. DM
Lead Sheet Totes Isotoner Corp. dba Totes, Sunglass World, Sunglass Station Eloise Lee 9655 International Boulevard Cincinnati, OH 45246 513-682-8200, Fax 513-682-8604 Email: elee@totes.com Web site: www.totes-isotoner.com
Accessories The 92-unit chain operates locations nationwide. The stores, offering weather-related apparel and travel accessories, occupy spaces of 500 sq.ft. to 2,500 sq.ft. in outlet centers. Growth opportunities are sought throughout the existing market during the coming 18 months. Typical leases run five years. A vanilla shell is required. Major competitors include Sunglass Hut.
7-Eleven, Inc. dba 7-Eleven Ken Barnes 690 Ellington Road South Windsor, CT 06064 860-291-6910, Fax 860-291-6900 Web site: www.7-eleven.com
Convenience The 8,200-unit chain operates locations nationwide and throughout Canada. The convenience stores, some with gasoline facilities, occupy spaces of 2,000 sq.ft. to 3,000 sq.ft. in freestanding locations, strip centers and urban/downtown areas. Growth opportunities are sought throughout NY and New England during the coming 18 months.
National Stores, Inc. dba Fallas Paredes, Fallas Discount Stores and Factory 2U Albert Katri or Alejandro Godoy 15001 South Figueroa Street Gardena, CA 90248 310-984-3835, Fax 310-324-2539 Emails: akatri@nationalstoresinc.com and agodoy@nationalstoresinc.com Web site: www.nationalstoresinc.com
Discount The 200-unit chain operates locations throughout AZ, CA, NM, NV and TX. The stores, offering family apparel, footwear and home dĂŠcor items, occupy spaces of 15,000 sq.ft. to 22,000 sq.ft. in freestanding locations and power, specialty and strip centers, in addition to urban/downtown areas. Growth opportunities are sought throughout the existing markets during the coming 18 months. Preferred demographics include a population of 20,000 within one mile earning $25,000 to $45,000 as the average household income.
Rite Aid Corp. dba Rite Aid Ray G. Payne 320 Goddard Way, Suite 125 Irvine, CA 92618 949-753-0614, Fax 949-585-9264 Email: rpayne@riteaid.com Web site: www.riteaid.com
Drug Store The 4,800-unit chain operates locations nationwide. The drug stores occupy spaces of 12,000 sq.ft. to 17,000 sq.ft. in freestanding locations. Growth opportunities are sought along the West Coast during the coming 18 months.
The Bartell Drug Co. dba Bartell Drugs David Graef 4727 Denver Avenue South Seattle, WA 98134 206-763-2626, Fax 206-763-2062 Web site: www.bartelldrugs.com
Drug Store The 59-unit chain operates locations throughout western WA. The drug stores occupy spaces of 15,000 sq.ft. in freestanding locations and endcaps of shopping centers. Growth opportunities are sought throughout the existing market during the coming 18 months. Typical leases run 15 years with five, five-year options. A turnkey is required.
Cleaning Concepts, Inc. dba Cleaning Concepts Gerald David 78270 Willow Rich Drive Palm Desert, CA 92211 Email: info@cleaningconcepts.com Web site: www.cleaningconcepts.com
Dry Cleaners The 35-unit chain operates locations throughout AZ, CA, CO, ID, MA, MT and TX. The dry cleaners occupy spaces of 2,000 sq.ft. to 4,000 sq.ft. in freestanding locations and specialty and strip centers. Plans call for three to five openings nationwide during the coming 18 months. Typical leases run 10 years with two, five-year options. A vanilla shell and specific improvements are required. The company requires site submittals to be sent via email.
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October 29, 2010
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Lead Sheet Comet Cleaners Franchise Group dba Comet Cleaners Jack Godfrey, Jr. 406 West Division Street Arlington, TX 76011 817-461-3555, Fax 817-861-4779 Email: linda@cometcleaners.com Web site: www.cometcleaners.com
Dry Cleaners The 200-unit chain operates locations throughout the midwestern and southwestern regions of the U.S. The dry cleaners occupy spaces of 1,500 sq.ft. to 2,000 sq.ft. in freestanding locations and strip centers. Growth opportunities are sought nationwide during the coming 18 months. Typical leases run five years. Preferred cotenants include coffee and donut shops. Preferred demographics include a population of 10,000 within three miles earning $50,000 to $75,000 as the average household income. Expansion is franchise-driven.
Best Buy Canada, Ltd. dba Best Buy Canada Ltd. and Future Shops Geoff Stollery 8800 Glenlyon Parkway Burnaby, British Columbia, Canada V5J 5K3 604-456-8264, Fax 604-412-5215 Email: gstollery@bestbuycanada.ca Web site: www.futureshop.ca
Electronics The 210-unit chain operates locations throughout Canada. The stores, offering appliances, computers, DVDs, electronics, phones and musical instruments, occupy spaces of 20,000 sq.ft. to 36,000 sq.ft. in freestanding locations, power centers and downtown areas. Growth opportunities are sought throughout the existing market during the coming 18 months. Typical leases run 10 years.
CPR Mark Camara c/o APE Realty, Inc. 4491 West Whitewater Avenue Weston, FL 33332 Email: mcamara@aperealty.com Web site: www.aperealty.com
Electronics The 40-unit chain operates locations nationwide. The stores, offering repair services for cellular phones and small electronics, occupy spaces of 800 sq.ft. to 1,400 sq.ft. in freestanding locations and entertainment, outlet, power, regional, specialty, strip and value centers, as well as urban/downtown areas. Plans call for 30 openings throughout the existing market during the coming 18 months, with representation by APE Realty, Inc. Typical leases run five years with a five-year option. A vanilla shell and tenant improvement allowance are required. Preferred demographics include a population of 35,000 within three miles earning $45,000 as the average income. The company prefers to locate in inline spaces of grocery-anchored shopping centers with strong visibility. Preferred cotenants include AT&T, T-mobile, Verizon Wireless, GameStop, RadioShack and EB Games. Expansion is franchise driven. The company requires site submittals to be sent via email.
CTM Group Stacey Edelstein 1300 Red Roof Lane, Unit 1A Salem, NH 03079 412-963-7575, Fax 412-963-7588 Email: stacey@kiddiekoncepts.com
Entertainment The 800-unit chain operates locations nationwide. The children’s rides occupy kiosks of 200 sq.ft. in super-regional and regional malls and lifestyle centers. Growth opportunities are sought throughout the existing market during the coming 18 months. Typical leases run three to five years.
The Movies At Alex Bieri c/o The Bieri Co. 660 Woodward Avenue, Suite 1500 Detroit, MI 48226 313-962-2800, Fax 313-962-5070 Email: abieri@biericompany.com Web site: www.themoviesat.com
Entertainment The four-unit chain operates locations throughout NY, PA and Washington, DC. The movie theaters occupy spaces of 30,000 sq.ft. to 80,000 sq.ft. in freestanding locations and entertainment, regional and power centers. Plans call for two to three openings nationwide during the coming 18 months, with representation by The Bieri Co. Typical leases run 20 years with options. Preferred cotenants include casual dining restaurants. Preferred demographics include a trade-area population of 150,000 earning $50,000 as the average income. The company will also consider second-generation spaces and outlots.
Amalgamated Bank Mitch Weiss c/o Retail Zone 19-02 Whitestone Expressway, Suite 404 Whitestone, NY 11357 718-321-7700 Ext. 3, Fax 718-228-6499 Email: mitch@retailzone.net Web site: www.amalgamatedbank.com
Finance The 22-unit chain operates locations throughout CA, NJ, NV, NY and Washington, DC. The banks occupy spaces of 2,000 sq.ft. to 4,000 sq.ft. in freestanding locations and endcaps of lifestyle, power and strip centers, as well as urban/downtown areas. Growth opportunities are sought throughout Brooklyn and Queens, NY during the coming 18 months, with representation by Retail Zone.
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October 29, 2010
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Lead Sheet X Sport Fitness David Landes c/o Royal Properties, Inc. 850 Bronx River Road Bronxville, NY 10708 914-237-3404, Fax 914-237-0196 Email: david@royalpropertiesinc.com Web site: www.royalpropertiesinc.com
Fitness The 25-unit chain operates locations throughout IL, NY and Washington, DC. The fitness centers occupy spaces of 40,000 sq.ft. to 50,000 sq.ft. in freestanding locations and entertainment, lifestyle, power and specialty centers. Plans call for two openings within northern NJ and Rockland and Westchester, NY during the coming 18 months, with representation by Royal Properties, Inc. A vanilla shell and tenant improvement allowance are required. Preferred demographics include a population of 300,000 within five miles earning $70,000 as the average household income. Major competitors include LA Fitness and 24 Hour Fitness. The company will also consider second-generation spaces.
Spencer Gifts, LLC dba Spencer’s Sue Waldman 6826 Black Horse Pike Egg Harbor Township, NJ 08234 609-645-3300, Fax 609-645-5448 Email: sue.waldman@spencergifts.com Web site: www.spencergifts.com
Gifts The 600-unit chain operates locations nationwide and in Canada. The stores, offering gifts and unique merchandise items, occupy spaces of 1,800 sq.ft. to 2,100 sq.ft. in regional malls. Plans call for 15 to 20 openings nationwide during the coming 18 months. Typical leases run 10 years. A vanilla shell and specific improvements are required.
Chain Reaction, Inc. dba CR Jewelers Diamond Outlet Donald Weinburg 4010 Oak Circle Boca Raton, FL 33431 561-338-8411, Fax 561-338-8294 Web site: www.crjewelers.com
Jewelry The eight-unit chain operates locations throughout CA, FL, MD, NJ and VA. The jewelry stores occupy spaces of 1,000 sq.ft. to 1,500 sq.ft. in malls. Growth opportunities are sought throughout the existing markets during the coming 18 months. Typical leases run seven years.
Laundry Systems Brokers, Inc. dba Wash & Tan Art Roy 1114 North Court Street, Suite 192 Medina, OH 44256 800-643-9274, Fax 330-764-3304 Email: artroy@laundrysystems.com Web site: www.laundrysystems.com
Laundromat The 40-unit chain operates locations throughout IN, KY, NY, OH and TN. The laundromats occupy spaces of 3,000 sq.ft. to 5,000 sq.ft. in freestanding locations and strip centers. Growth opportunities are sought throughout AL, GA, IN, KY, NC, OH and SC during the coming 18 months. Typical leases run 10 years with two, five-year options. Preferred cotenants include Kroger and Sav-A-Lot. Preferred demographics include a population of 10,000 within one mile earning $50,000 as the average household income. A land area of 0.5 acres is required for freestanding locations.
PWS, Inc. dba Launderland and Lucy’s Laundrymart Bob McTavish 365 Swift Avenue South San Francisco, CA 94083 650-280-3004, Fax 650-871-5759
Laundromat The 2,500-unit chain operates locations throughout the western region of the U.S. The laundromats occupy spaces of 1,800 sq.ft. to 4,000 sq.ft. in freestanding locations and strip centers. Growth opportunities are sought throughout AZ, CA and Las Vegas, NV during the coming 18 months. A vanilla shell is required.
Boes Ltd. dba Boes Ken Keats 103A Scurfield Boulevard Winnipeg, Manitoba, Canada R3Y 1M6 204-475-6834, Fax 204-475-6823
Luggage The three-unit chain operates locations throughout Manitoba and Saskatchewan, Canada. The luggage stores occupy spaces of 700 sq.ft. to 1,500 sq.ft. in regional shopping centers. Growth opportunities are sought throughout Alberta and Saskatchewan, Canada during the coming 18 months.
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Lead Sheet New Look Eyewear, Inc. dba New Look Eyewear Claire Boulanger 4405 Bois Franc Montreal, Quebec, Canada H4S 1A8 514-904-5665 Ext. 236, Fax 514-904-5675 Email: cboulanger@newlook.ca Web site: www.newlook.ca
Optical The 64-unit chain operates locations throughout Ottawa and Quebec, Canada. The eyecare centers occupy spaces of 2,700 sq.ft. to 3,300 sq.ft. in freestanding locations and pad sites of power centers, as well as urban/downtown areas. Growth opportunities are sought throughout the existing markets during the coming 18 months. The company also operates small-format express centers in spaces of 1,200 sq.ft.
Cavender’s Boot City Sharon Biles c/o Sabre Properties 3336 Richmond Avenue, Suite 302 Houston, TX 77098 713-524-4646, Fax 713-630-0680
Shoes The 50-unit chain operates locations throughout AR, KS, LA, OK and TX. The stores, offering boots and western-style family apparel, occupy spaces of 15,000 sq.ft. to 20,000 sq.ft. in freestanding locations. Growth opportunities are sought throughout AR, AZ, CO, KS, LA and MO during the coming 18 months, with representation by Sabre Properties. Preferred demographics include a population of 50,000 within five miles. The company prefers to aquire sites but will consider leases.
Flip Flop Shops, Inc. dba Flip Flop Shops Darin Kraetsch 2774 North Cobb Parkway, Suite 109-334 Kennesaw, GA 30152 770-424-0027 Web site: www.flipflopshops.com
Shoes The 40-unit chain operates locations throughout AZ, CA, CO, DE, FL, GA, LA, MD, NC, OH, SC, NJ, NV, TN, TX and UT, as well as throughout Canada, Guam and the Caribbean. The stores, offering flip flops and sandals, occupy spaces of 500 sq.ft. to 700 sq.ft. in regional malls, entertainment and lifestyle centers and airports. Growth opportunities are sought nationwide during the coming 18 months. The company prefers to locate in second-generation spaces in high-traffic areas.
Shoe Carnival, Inc. dba Shoe Carnival Mike Smith 7500 East Columbia Street Evansville, IN 47715 812-867-4260, Fax 812-471-9864 Web site: www.shoecarnival.com
Shoes The 315-unit chain operates locations throughout the midwestern, western, southern and southeastern regions of the U.S. The stores, offering value-priced family footwear and accessories, occupy spaces of 8,000 sq.ft. to 12,000 sq.ft. in power and strip centers. Growth opportunities are sought throughout the existing markets during the coming 18 months. Typical leases run 10 years with options. A turnkey is required. Preferred cotenants include T.J. Maxx, Ross Dress for Less, Old Navy, Target, Kohl’s and JCPenney. Preferred demographics include a population of 200,000 within seven to 10 miles earning $50,000 to $60,000 as the average household income. Major competitors include Famous Footwear and Rack Room Shoes.
Family Christian Stores Marty Diamond c/o Thur & Associates 8260 Greensboro Drive, Suite 270 McLean, VA 22102 703-879-4965 Web site: www.thurassociates.com
Specialty The 300-unit chain operates locations nationwide throughout 38 states. The stores, offering religious items, church supplies, books, music, movies, apparel and gifts, occupy spaces of 4,000 sq.ft. to 6,000 sq.ft. in lifestyle and power centers. Growth opportunities are sought throughout MD, VA and Washington, DC during the coming 18 months, with representation by Thur & Associates. The company prefers to locate in highly-visible locations.
The preceding leads have been verified by calls made to or written submittals from the respective retailers during the weeks prior to publication. Since the majority of chains featured in Lead Sheet are small in size, some changes in their expansion plans should be expected. To be included in an upcoming issue, just fax a note or call us with the details. Our fax number is (609-587-3511) and you can reach us by phone at (609-587-6200) or email at ann@dealmakers.net. page 20
October 29, 2010
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Broker Contact: Broker Contact: Broker Contact:
W. ThomasNiemira Niemira W. Thomas Niemira W. Thomas
285 W. Dundee Road Palatine, IL60074 60074 285 Dundee Road • •Palatine, 285 W.W. Dundee Road • Palatine, ILIL60074 dukeniemira@aol.com www.dimucci.com dukeniemira@aol.com • •www.dimucci.com dukeniemira@aol.com • www.dimucci.com 847-991-4400 847-991-4400 847-991-4400
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CVS, Wally’ sMarket, Market, Auto Zone &Ace Ace Hardware CVS, Wally’ Auto Zone Hardware CVS, Wally’ s sMarket, Auto Zone &&Ace Hardware
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Food Retailers Expand Nationwide Cedar Enterprises, Inc. trades as Wendy’s at 145 locations throughout CT, IN, NV, TX and WA. The fast food restaurants occupy spaces of 3,000 sq.ft. to 3,200 sq.ft. in freestanding locations. Limited growth opportunities are sought throughout Hartford, CT; Indianapolis, IN; Las Vegas, NV; San Antonio, TX, and Seattle, WA during the coming 18 months. Typical leases run 20 years with two, five-year options. Specific improvements are required. Preferred cotenants include Kohl’s, Target and Walmart. Major competitors include McDonald’s, Whataburger, In-N-Out Burger and Carl’s Jr. Preferred demographics include a population of 20,000 within three miles earning $70,000 as the average household income. A land area of 0.75 acres is required. The company is site-selective. For more information, contact John Schall, Cedar Enterprises, Inc., 1328 Dublin Road, Suite 300, Columbus, OH 43215; 614-2940631 Ext. 1270, Fax 614-294-1648; Email: jschall@cedarenterprises.com; Web site: www.cedarenterprises.com. Marvelous Market operates nine locations throughout MD, VA and Washington, DC. The shops, offering bakery and deli items, occupy spaces of 1,000 sq.ft. to 2,000 sq.ft. in urban/downtown areas and mixeduse and specialty centers. Plans call for three openings throughout the existing markets during the coming 18 months, with representation by Transwestern Commercial Services. Preferred cotenants include wine shops and salons. Preferred demographics include a population of 100,000 within three miles earning $75,000 as the average household income. For more information, contact Ann McClane or Bill Miller, Transwestern Commercial Services, 1700 K Street Northwest, Suite 660, Washington, DC 20006; 202775-7007/7033, Fax 202-775-7009; Emails: ann.mcclane@transwestern.net and bill.miller@transwestern.net; Web site: www.tretail.com. Chipotle Mexican Grill operates 1,000 locations nationwide. The restaurants occupy spaces of 1,800 sq.ft. to 2,500 sq.ft. in freestanding locations and endcaps of mixed-use, power and strip centers. Growth opportunities are sought throughout IN, KY, MI, OH and western PA during the coming 18 months. Typical leases run 10 years with options. For more information, contact Mark Heath, Chipotle Mexican Grill, 401 North Front Street, Suite 220, Columbus, OH 43215; 614-286-6266, Fax 614-769-9040; Email: mheath@chipotle.com; Web site: www.chipotle.com. page 22
October 29, 2010
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Wing Zone operates 100 locations nationwide. The restaurants occupy spaces of 1,000 sq.ft. to 1,400 sq.ft. in freestanding locations, downtown areas and entertainment, outlet, specialty, strip and value centers, as well as on university campuses. Plans call for 10 openings throughout the Midwest and along the East Coast, with a focus on the southeastern region, during the coming 18 months, with representation by APE Realty, Inc. Typical leases run five years with a five-year options. A vanilla shell and specific improvements are required. Major competitors include Buffalo Wild Wings, Wing Stop and Wings To Go. Preferred demographics include a population of 40,000 within three miles. The company will also consider ground leases and outlots of 0.33 acres for modular units. Expansion is franchise-driven, and the company prefers site submittals to be sent via email. For more information, contact Mark Camara, APE Realty, Inc., 4491 West Whitewater Avenue, Weston, FL 33332; Email: mcamara@aperealty.com; Web site: www.aperealty.com. Kolache Factory, Inc. trades as Kolache Factory at 41 locations throughout CO, IN, KS, MO, OH and TX. The stores, offering kolaches, eastern-European pastries, occupy spaces of 1,600 sq.ft. to 1,800 sq.ft. in freestanding locations and strip centers. Plans call for eight openings throughout CA, CO, IN, KS, MO and TX during the coming 18 months. Typical leases run five years. A vanilla shell and specific improvements are required. Preferred cotenants include Starbucks. Major competitors include doughnut shops. Preferred demographics include a population of 60,000 within three miles earning $65,000 as the average household income. The company is franchising. For more information, contact Aaron Nielsen, Kolache Factory, Inc., 23240 Westheimer Parkway, Katy, TX 77459; 281-829-6188, Fax 281-829-6813; Email: anielsen@kolfac.com; Web site: www.kolachefactory.com. Sonic Drive-In operates 3,500 locations nationwide. The restaurants occupy spaces of 1,500 sq.ft. to 1,750 sq.ft. in freestanding locations and pad sites of shopping centers. Plans call for 15 openings throughout southern NJ and southeastern and south central PA during the coming 18 months, with representation by Kahn & Co. A land area of 0.75 acres is required. For more information, contact Jim Kahn, Kahn & Co., 580 Virginia Drive, Suite 100, Ft. Washington, PA 19034; 215-654-0500, Fax 215654-7557; Email: jimkahn@kahnandco.com; Web site: www.kahnandco.com. Dealmakers
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Subway operates 33,512 locations nationwide and internationally. The sandwich shops occupy spaces of 800 sq.ft. to 1,500 sq.ft. in freestanding locations, urban/downtown areas and entertainment, lifestyle, power, specialty and strip centers. Plans call for 10 to 12 openings throughout Rockland County, NY during the coming 18 months, with representation by Royal Properties, Inc. Typical leases run 10 years. A vanilla shell is required. For more information, contact David Landes, Royal Properties, Inc., 850 Bronx River Road, Bronxville, NY 10708; 914237-3403, Fax 914-237-0196; Email: david@royalpropertiesinc.com; Web site: www.royalpropertiesinc.com. Flamer’s Burgers & Chicken operates 51 locations throughout the eastern, midstates and southern regions of the U.S., as well as internationally. The fast food restaurants, offering burgers and chicken, occupy spaces of 600 sq.ft. to 1,200 sq.ft. in downtown areas, malls and mixed-use, outlet, power, specialty, tourist and value centers. Growth opportunities are sought throughout the eastern, midstates and southern regions of the U.S. during the coming 18 months. For more information, contact Nick Knott, Flamer’s Burgers & Chicken, 326 Evansdale Road, Lake Mary, FL 32746; 407-574-8363, Fax 321-206-8947; Email: info@flamersgrill.com; Web site: www.flamersgrill.com. Dunn Bros. Coffee Franchising, Inc. trades as Dunn Brothers Coffee at 85 locations throughout KS, MN, MO, ND, NE, SD, TN, TX and WI. The coffee shops occupy spaces of 1,200 sq.ft. to 1,800 sq.ft. in freestanding locations, malls, urban/downtown areas and entertainment, specialty, strip and tourist centers. Growth opportunities are sought throughout the existing market, along with IL, during the coming 18 months. Typical leases run five to 10 years. Specific improvements are required. Major competitors include Starbucks, Caribou and It’s A Grind. The company is franchising. For more information, contact Scott Mason, Dunn Bros. Coffee Franchising, Inc., 111 3rd Avenue South, Suite 220, Minneapolis, MN 55401; 612-877-3603, Fax 612-334-9749; Email: realestate@dunnbros.com; Web site: www.dunnbros.com. DM
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Buyers and Sellers (continued from page fourteen)
Garrett Realty & Development, Inc. is selling Webster Bridge Plaza, situated on 2.2 acres along West Webster Avenue in Chicago, IL. Crème De La Crème anchors the center. Area retail includes Starbucks, Barnes & Noble, Bally Total Fitness, Chase Bank, Apple, Crate & Barrel, Trader Joe’s, Treasure Island, Best Buy and West Elm. Area demographics include a population within 0.5 miles earning $125,000 as the average household income. For more information, contact Chad Tepley or David Schraufnagel, Garrett Realty & Development, Inc., 2211 North Elston Drive, Suite 308, Chicago, IL 60614; 773-880-1322 Ext. 38/16; Emails: ctepley@garrettrealtyinc.com and david@garrettrealtyinc.com; Web site: www.garrettrealtyinc.com. CB Richard Ellis is selling a 1,200 sq.ft. former Valvoline situated on 0.466 acres along McKnight Road in Pittsburgh, PA. The asking price is $325,000. The company is also selling a 1,200 sq.ft. former Valvoline situated on 0.942 acres along Route 8 in Allison Park, PA. The asking price is $400,000. For more information, contact Steven Esposito, CB Richard Ellis, 600 Grant Street, Suite 1400, Pittsburgh, PA 15219; 412-3949845; Email: steve.esposito@cbre.com.
NAI Emory Hill is selling a retail building located along McMaster Boulevard in Kemblesville, PA. Area demographics include a population of 36,288 within five miles earning $121,400 as the average household income. The company is also selling a 6,000 sq.ft. restaurant pad site located along East Old Baltimore Pike in Kennett Square, PA. Area demographics include a population of 42,179 within five miles earning $136,548 as the average household income. The company is also selling a 5,700 sq.ft. former convenience store situated on one acre along Baltimore Pike in Oxford, PA. Area demographics include a population of 25,637 within five miles earning $68,938 as the average household income. The company is also selling a 2.2 acre parcel located at the intersection of West Sussex Avenue and South Tull Street Extension in Seaford, DE. The asking price is $200,000. For more information regarding the Kemblesville property, contact Pat Gioffre, NAI Emory Hill; 302-322-9500, Fax 302322-9518; Email: patgioffre@emoryhill.com; Web site: www.emoryhill.com. For more information regarding the Kennett Square property, contact Dave Morrison; Email: davemorrison@emoryhill.com. For more information regarding the Oxford and Seaford properties, contact Jim O’Hara, Jr.; Email: jimohara@emoryhill.com.
Denenberg Realty Advisors is selling a divisible 23,500 sq.ft. building located along Columbus Avenue in Boston, MA. The asking price is $1.995 million. The company is also selling an 8,000 sq.ft. building situated on 0.94 acres along Pleasant Street in Brockton, MA. The asking price is $799,000. The company is also selling a 3,780 sq.ft. building with gasoline facilities located along Albany Street in Boston, MA. The asking price is $1.6 million. The company is also selling a 4,200 sq.ft. retail condo located along Commonwealth Avenue in Boston, MA. The asking price is $2.2 million. The company is also selling a strip center located along Pleasant Street in Brockton, MA. Tenants at the center include Wash ‘N Go Laundromat. The asking price is $1.425 million. The company is also selling a 5,250 sq.ft. former automotive repair building located along Dorchester Avenue in South Boston, MA. The asking price is $819,900. The company is also selling Jonathan Livingston Square, a 23,000 sq.ft. strip center located along King Street in Cohasset, MA. The company is also selling a 14,040 sq.ft. retail building located along G.A.R. Highway in Swansea, MA. For more information, contact Denenberg Realty Advisors, 230 Commercial Street, Boston, MA 02109; 617-720-5656, Fax 617720-5676; Email: info@denenbergrealty.com; Web site: www.denenbergra.com. DM
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Published by and for leasing agents, brokers and owners of retail real estate, TenantSearch tells you:
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Exclusives and Leasing Assignments
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Signs of the organization’s success can be observed nationwide as retailers entering into new markets are referred from one Team member to another – Thomasville Furniture, for example, now uses X Team members from coast-to-coast to aid them with their expansion plans. The company takes these referrals very seriously and coaches members to take special care to ensure that clients will be satisfied with their referrals. “When a client says to me in Washington that they’ll need help in Tennessee, I can give them David’s number and they can start from there,” Framson said. “If they’ve had a good experience with me in Washington, they’ve already had a good experience with an X Team office, so they can feel comfortable that when they go to David he is at least as good – or likely better – than me. They’re not going to have to train a rookie to do their work, or worry that somebody doesn’t have the necessary skills or [resources].” Members will not refer a client to a company within the network if that company is unable to best meet the needs of the client, or the member has a conflict of interest, such as an existing representation assignment with a retailer’s direct competition. “We don’t want to step up and volunteer for something where we’re going to let somebody down,” Framson said. “It’s all about maintaining your relationships. At this point, X Team is a known entity. The X Team logo on your business card or on your resume is in many respects like the ‘Good Housekeeping Seal of Approval.’ It’s a statement about the quality of the company with whom you’re affiliated. You don’t get to be a member if you’re not good at what you do and relevant in your marketplace.” Baker said that the group’s goal for the future is to continue adding affiliates in order to strengthen and grow the team. “The goal is to continue to get better, make our member companies better, and continue to grow at a slow-to-moderate pace.” Framson added that it’s vital for the group to continue to keep its eyes on the future, and to utilize the talents and practices of its members to benefit the Team going forward. “It’s what’s on the horizon that makes us successful, both individually and as a group,” he said. “There’s a great saying I heard years ago: ‘Managers have their eyes on the bottom line. Leaders have their eyes on the horizon.’ X Team allows us to be leaders.” For more information, contact Peter Framson, Green Light Retail Real Estate Services, LLC, 4733 Bethesda Avenue, Suite 500, Bethesda, MD 20814; 301-656-2200, Fax 301-6562606; Web site: www.xteam.net. DM page 26
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Atlantic Retail Properties (561-427-6699) represents the following retailers with their expansion plans: Solantic, throughout FL excluding Orlando, seeking spaces of 3,500 sq.ft.; Family Christian Stores, throughout FL, seeking sites of 5,000 sq.ft. to 6,000 sq.ft.; Tijuana Flats, throughout FL excluding Orlando, utilizing spaces of 1,600 sq.ft. to 2,000 sq.ft.; Bike America, throughout southern FL, seeking spaces of 5,000 sq.ft. to 7,000 sq.ft.; Leslie’s Pool Supplies, throughout FL, seeking sites of 2,700 sq.ft. to 3,000 sq.ft.; Vitamin World, throughout FL, utilizing spaces of 1,500 sq.ft.; Pearle Vision, throughout FL excluding the southeastern region, seeking spaces of 1,800 sq.ft. to 2,200 sq.ft.; Energy Kitchen, throughout FL, seeking sites of 1,800 sq.ft. to 2,500 sq.ft.; Lenscrafters, throughout FL excluding the southeastern region, seeking sites of 3,600 sq.ft.; Juiceblendz, throughout FL, utilizing spaces of 1,200 sq.ft. to 2,000 sq.ft.; Barnes & Noble, throughout FL, seeking sites of 27,000 sq.ft. to 35,000 sq.ft., and Dollar General, throughout Orlando, FL, seeking spaces of 9,000 sq.ft. to 10,000 sq.ft. Argent Retail Advisors (888-301-1888) has been named the leasing agent for Corona Hills Marketplace, a 270,000 sq.ft. community shopping center located in Corona, CA. Walmart shadow-anchors the center and Vons, PetSmart and Anna’s Linens anchor the center. Tenants include Costco, Home Depot, Ross Dress for Less, OfficeMax, Big 5 Sporting Goods, Buy-Rite, Claim Jumper and Jo-Ann Fabrics. The company has also been named the leasing agent for Corona Hills Plaza, a 534,000 sq.ft. power center located in Corona, CA. Tenants include Costco, Home Depot, Ross Dress for Less, OfficeMax, Big 5 Sporting Goods, Buy-Rite and Claim Jumper. Area retail includes Walmart, Von’s, PetSmart and Jo-Ann Fabrics. The company is leasing both centers on behalf of Kimco Realty Corp. Charles Dunn Co., Inc. (213-683-0500) has been named the exclusive leasing agent for 7th & Fig Shopping Center, a three-level, 330,000 sq.ft. open-air shopping center located along Figueroa Street between 7th Street and 8th Street in Los Angeles, CA. Tenants at the center include Morton’s The Steakhouse, California Pizza Kitchen and Gold’s Gym. LG Realty Advisors, Inc. (412-281-9100) has been named exclusive leasing agent for Penn Center East, a mixed-use center featuring a 310,000 sq.ft. retail component and a 680,000 sq.ft. office component along Route 22 in Wilkins Township, PA. Dealmakers
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R.J. Brunelli & Co., Inc. (732-721-5800) represents A.C. Moore with the chain’s expansion throughout central and northern NJ and Dutchess, Orange, Putnam, Richmond, Rockland, Ulster and Westchester counties in NY. The arts and crafts retailer is seeking spaces of 22,000 sq.ft. to 30,000 sq.ft. in shopping centers cotenanted by discount department stores, off-price soft goods retailers and supermarkets. The company also represents Dollar Tree with the chain’s expansion throughout central and northern NJ. The discount retailer is seeking sites of 8,000 sq.ft. to 12,000 sq.ft. in shopping centers anchored by discount department stores, soft-goods retailers and supermarkets, as well as freestanding locations and small strip centers. The chain is also seeking spaces of 10,000 sq.ft. to 13,000 sq.ft. in freestanding locations and strip centers for its Deal$ concept. The company also represents Monster Mini Golf with the chain’s expansion throughout central and northern NJ. The indoor miniature golf centers occupy spaces of 10,000 sq.ft. to 11,000 sq.ft. Colliers International – Atlanta (404-8889000) was named by ST Residential as exclusive leasing agent for the following mixed-use properties throughout the Atlanta, GA area: The Atlantic, a 47-story building featuring a 12,624 sq.ft. retail component; The Brookwood, featuring a 20,006 sq.ft. retail component, located at the intersection of 28th Street and Peachtree Road; Luxe, featuring a 5,273 sq.ft. retail component, and Serrano, featuring a 6,457 sq.ft. retail component, located at the intersection of GA 400 and Abernathy Road in Sandy Springs. Sperry Van Ness (407-240-0009) represents Menchie’s Frozen Yogurt with the chain’s franchise-driven expansion throughout FL. The stores occupy spaces of 900 sq.ft. to 1,800 sq.ft. in endcaps and inline spaces of lifestyle, power, regional and strip centers, along with street front locations. Speed Commercial Real Estate (601987-0202) has been named by Stonemar Properties, LLC as leasing agent for Purple Creek, Centre Park and North Regency Square, three shopping centers totaling 200,000 sq.ft. along County Line Road in Jackson, MS. Tenants at the centers include Academy Sports, Guitar Center, Pier 1 Imports and Applebee’s. DM
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Real Estate Professionals Making the News Cushman & Wakefield (212-841-7500) acquired Cowen Commercial, LLC, a real estate firm specializing in leasing, investment sales and shopping center repositioning and development. Jon Cowen, owner and president of Cowen Commercial, joined the company’s Phoenix, AZ office along with Adam Madison, Joseph Hoye II and Shannon O’Keefe. Cowen will serve as a senior director and team leader for the company. Madison will serve as a senior associate. Hoye will serve as an associate with a focus on landlord and tenant representation, and O’Keefe will serve as client and marketing coordinator. NAI Avant (803-744-9811) hired Ross Marple as a project and property manager for the company’s property management group. He will be responsible for major building and tenant retrofit as well as new construction project management, and will serve as property manager for a portfolio of commercial properties. The company offers brokerage, leasing, development and property management services throughout the Southeast. Calkain Cos. (703-787-4714) hired W. Douglas Wright as director of Calkain Realty Advisors. He will operate out of the company’s Reston, VA headquarters. The company is a full-service retail brokerage firm with a focus on single- and multi-tenant retail, office and industrial net-leased properties nationwide. Coldwell Banker Commercial (314-2064600) hired Nadine Boon as vice president of the company’s brokerage division in the St. Louis, MO office. She will be responsible for retail, office, industrial and land transactions. Prior to joining the company, Boon served as director of economic development for the city of St. Charles, MO. Franklin Street Financial Partners (813-8397300) acquired Smith Attaway Co., LLC and hired Sean Attaway Molloy, a principal of Smith Attaway, as a broker and senior director of the company’s real estate services division. He will focus on the disposition and acquisition of multi-tenant shopping centers and single-tenant net-leased investments. SIKON Construction (954-354-8338) hired Michele Snow as chief financial officer. The company is a retail and commercial general contracting firm. De Ruggiero Realtors (201-617-7111) hired Paul E. Fried as part of the company’s commercial division. He will operate out of the company’s Union City, NJ office. DM page 28
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Victorville – A shopping center located along Palmdale Road has two spaces of 1,500 sq.ft. available. Target, Taco Bell, Payless ShoeSource, Starbucks and Subway anchor the center. Area demographics include a population of 156,741 within five miles earning $58,450 as the average household income. The average daily traffic count is 47,393 vehicles. The asking monthly rent is $1.25 psf NNN. For details, contact Colleen Butcher, Coldwell Banker Commercial, 15500 West Sand Street, 2nd Floor, Victorville, CA 92392; 760-684-8070; Email: cb@cbcdesert.com; Web site: www.cbcdesert.com.
household income. For details, contact Andrea Blade, Madison Marquette, 6901 Southwest 18th Street, Suite E-105, Boca Raton, FL 33433; 561-807-1000; Email: andrea.blade@madisonmarquette.com; Web site: www.madisonmarquette.com.
Florida Apollo Beach – MiraBay Village Shopping Center, a 96,000 sq.ft. neighborhood shopping center located along Harbor Lane, has spaces available from 1,185 sq.ft. to 10,475 sq.ft. Cotenants include Asian Fusion Buffet, Dones Cleaners, H&R Block, Incognito Restaurant, Sava Café and Marco Nail & Spa. Area demographics include a population within one mile earning $78,000 as the average household income. The average daily traffic count is 22,500 vehicles. For details, contact Brian Bern, Franklin Street Real Estate Services, 5420 Bay Center Drive, Suite 100, Tampa, FL 33609; 813658-3343, Fax 813-839-7330; Web site: www.franklinstreetfinancial.com. Lake Wales – Eagle Ridge Mall, a 624,759 sq.ft. regional mall located along Eagle Ridge Drive, has space available. Sears, JCPenney, Dillard’s and Regal Cinemas anchor the center. Cotenants include Starbucks, PacSun, Victoria’s Secret, Bath & Body Works, Journeys, Aeropostale, Toys “R” Us, Sbarro, Subway and Taco Bell. Area retail includes Home Depot, Lowe’s Home Improvement and Publix. Area demographics include a population of 40,424 within five miles earning $44,562 as the average household income. Naples – Crossroads Market, a 126,834 sq.ft. shopping center located at the intersection of Pine Ridge Road and Vineyards Boulevard, has spaces available of 2,300 sq.ft. and 20,062 sq.ft. Publix and Walgreens anchor the center. Cotenants include Crossroads Hair Salon, Fashion Fresh, The UPS Store, Blockbuster Video, Cold Stone Creamery, Starbucks, Giovanni, Cecil’s Copy Express, Subway, China Garden, GL Nail Spa and Alice Sweetwater’s. Area demographics include a population of 121,215 within five miles earning $91,156 as the average Dealmakers
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Margate – Carolina Springs Plaza, located along West Sample Road, has spaces available from 600 sq.ft. For details, contact Kathy AndersonTurchin, Commercial Property Group, Inc.; 305-477-8100. Margate – Cocogate Plaza, an 87,328 sq.ft. center located at the intersection of State Road 7 and Coconut Creek Parkway, has spaces available from 1,723 sq.ft. to 7,520 sq.ft. Cotenants include Retro Fitness, Tires Plus, Exquisite Floors, Magnum Appliances, Rainbow Insurance, Dry-cleaners Express and Autry Music Lessons. Area retail includes CVS, Dollar General and Bank Atlantic. Area demographics include a population of 366,429 within five miles earning $65,600 as the average household income. For details, contact Sharon DeMuth, Amera-Barron Leasing, Inc.; 954-340-6000; Email: sdemuth@ameracorporation.com; Web site: www.ameracorporation.com. West Palm Beach – Palm Beach Mall, located at the intersection of Interstate 95 and Palm Beach Lakes Boulevard, has a 200,000 sq.ft. former department store space available. Cotenants include JCPenney, Macy’s and Sears. Area retail includes Target, Home Depot, Best Buy and BrandsMart USA. Area demographics include a population of 368,219 within seven miles earning $62,562 as the average household income. For details, contact Dan Lynch, Atlantic Retail Properties, 1001 North U.S. Highway One, Suite 600, Jupiter, FL 33477; 561427-6699 Ext. 11, Fax 561-427-6561; Email: dlynch@atlanticretail.com; Web site: www.atlanticretail.com.
Idaho Boise – A strip center located along Broadway has spaces available from 1,000 sq.ft. to 2,000 sq.ft. Area demographics include a population of 83,785 within three miles earning $62,929 as the average household income. The average daily traffic count is 30,886 vehicles. Emmett – A 0.93-acre pad site located at the intersection of Highway 52 (continued on page thirty)
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and South Washington Avenue is available for build-to-suit. Area retail includes Maverick, Kings, Bi-Mart, DL Evans Bank, Pizza Hut, McDonald’s, Arctic Circle, Movie Gallery, Only $1, Curves, Key Bank, RadioShack, Moxi Java, Papa Murphy’s, H&R Block, Anytime Fitness, Dollar Tree, Subway, Sonic and Albertsons. Area demographics include a population of 23,499 within 10 miles earning $56,916 as the average household income. For details regarding the Boise property,
Idaho
Illinois
contact Beau Manwaring, Hawkins Cos., 855 Broad Street, Suite 300, Boise, ID 83702; 208908-5527; Email: bmanwaring@hcollc.com; Web site: www.hcollc.com. For details regarding the Emmett property, contact Bryan Vaughn; 208-908-5522; Email: bvaughn@hcollc.com.
available along with a 12,000 sq.ft. space. The average daily traffic count is 41,300 vehicles. For details, contact Sara Chaiken or Les Cristof, Edgemark Commercial Real Estate Services, LLC, 2215 York Road, Suite 503, Oak Brook, IL 60523; 630572-5617/5607, Fax 630-472-1019; Emails: schaiken@edgemarkllc.com and lkristof@edgemarkllc.com; Web site: www.edgemarkllc.com.
Illinois Algonquin – Algonquin Town Center, a 103,266 sq.ft. center located along Algonquin Road, has a divisible space of 8,250 sq.ft.
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Bartlett – Oakfield Center, a 28,198 sq.ft. strip center located at the intersection of Ulysses Grant Memorial Highway and East Lake Street, has an 850 sq.ft. space available along with three spaces of 1,178 sq.ft. Tradearea demographics include a population of 226,540 earning $95,404 as the average household income. The average daily traffic count is 51,900 vehicles. The asking rent is $11 psf for the 850 sq.ft. space and ranges from $7 psf to $8 psf for the 1,178 sq.ft. spaces. Chicago – An 18,000 sq.ft. mixeduse building located along North Broadway Avenue has a 1,750 sq.ft. space with an additional 1,750 sq.ft. second-level space available. Area retail includes PetSmart, Bed Bath & Beyond, Cost Plus World Market and Walgreens. The asking monthly rent is $3,000 NNN with taxes of $7.60 psf. Elgin – A 44,639 sq.ft. strip center located along South McLean Boulevard has two spaces of 3,880 sq.ft. available. Area retail includes Hot Diggity Dog and Chan’s Restaurant. Tradearea demographics include a population of 158,249 earning $92,001 as the average household income. The average daily traffic count is 24,600 vehicles. The asking rent is $13.60 psf. For details regarding the Bartlett and Elgin properties, contact Ben Rosenfield or Dan Steinberg, Titan Commercial, 225 North Columbus Drive, Suite 100, Chicago, IL 60601; 312-373-7100, Fax 312-3731400; Emails: brosenfield@titancre.com and dsteinberg@titancre.com; Web site: www.titancommercialrealestate.com. For details regarding the Chicago property, contact Dan Steinberg or Paige Winkels; Email: pwinkels@titancre.com. Chicago – A divisible space of 8,000 sq.ft. located at the intersection of Clark Street and Maple is available. Area retail includes Treasure Island, CVS, Chase Bank and Athletico. Area demographics include a daytime population of 198,698 within one mile earning $108,705 as the average household income. The average daily traffic count is 16,000 vehicles.
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For details, contact Barry Weiss or Peter Jacobs, Jacobs Weiss Commercial Real Estate, 111 West Jackson Boulevard, Suite 1150, Chicago, IL 60604; 312-315-8467 or 773470-8992; Emails: barry@jacobsweiss.com and peter@jacobsweiss.com.
Maple Avenue, has spaces available from 1,200 sq.ft. to 2,850 sq.ft. Cotenants include Subway, Benjamin Moore, Just Tires, Dairy Queen and Family Video. For details, contact Midland Equities, One Trans Am Plaza, Suite 310, Oakbrook Terrace, IL 60181; 630-620-1500, Fax 630620-1501; Web site: www.mideq.com.
703-451-9100 Ext. 303, Fax 703-4512700; Email: ktsachs@aol.com; Web site: www.metroassetmgmt.com.
Chicago – Bricktown Square, located at the intersection of Fullerton Avenue and Narragansett Avenue, has spaces available from 1,800 sq.ft. to 20,452 sq.ft. along with outlots. Cotenants include The Sports Authority, Sport Fitness, Babies “R” Us and Walgreens. Area demographics include a population of 374,496 within three miles earning $71,665 as the average household income. For details, contact Mary Beth MenelliIveljic or Jaime Platt, Mid-America Asset Management, Inc., One Parkview Plaza, 9th Floor, Oakbrook Terrace, IL 60181-4713; 630-954-7385/7223, Fax 630-954-7304; Emails: mmenelli@midamericagrp.com and jplatt@midamericagrp.com; Web site: www.midamericagrp.com. Crystal Lake – Crystal Lake Plaza, a strip center, has spaces available of 12,000 sq.ft. and 14,122 sq.ft. Area retail includes RadioShack. For details, contact Tom Eilers, Jr., Madison Corporate Group, Inc., 6500 Northwest Highway, Crystal Lake, IL 60014; 630-858-5205, Fax 847-446-1815; Email: info@madisoncorporategroup.com. Crystal Lake – Grand Appliance Retail Center, a strip center, has a divisible space of 7,044 sq.ft. available. For details, contact Mike Deacon, RVG Commercial Realty, 1275 Randall Road, Crystal Lake, IL 60014; 815-814-6500; Email: miked@rvgcommercial.com. DeKalb – A 14,000 sq.ft. strip center situated on two acres at the intersection of Route 30/ Lincoln Highway and Annie Glidden Road has a 2,977 sq.ft. space available. Starbucks, Panda Express, Potbelly Sandwich Works and Chipotle anchor the center. Cotenants include T-Mobile and Toppers Pizza. The asking rent is $24 psf with CAM of $3 psf and taxes of $2.75 psf. For details, contact JR Kyes, InSite Real Estate, 1400 16th Street, Suite 300, Oak Brook, IL 60523; 630-617-9108; Email: jkyes@insiterealestate.com; Web site: www.insiterealestate.com. Downers Grove – Maple Plaza Shopping Center, a 32,000 sq.ft. center located along
Mt. Prospect – Golf Plaza I Shopping Center, a 100,000 sq.ft. center located at the intersection of Golf Road and Busse Road, has spaces available of 640 sq.ft. and 1,400 sq.ft. Cotenants include CVS, Wally’s Market, AutoZone and Ace Hardware. The asking rent ranges from $18 psf to $22 psf. Also, Golf Plaza II Shopping Center, a 176,763 sq.ft. center located at the intersection of Golf Road and Route 83, has spaces available from 1,600 sq.ft. to 3,600 sq.ft. Cotenants include Dominick’s Finer Foods and Walgreens. The asking rent ranges from $18 psf to $20 psf. Naperville – Fox River Commons Center, a 243,120 sq.ft. center located at the intersection of Route 59 and Ogden Avenue, has a 13,300 sq.ft. space available along with an 8,100 sq.ft. outlot building. Cotenants include Bed Bath & Beyond, Sam’s Warehouse, Office Depot and Walmart. The asking rent ranges from $12 psf to $14 psf. Palatine – Northwest Shopping Center, a 109,420 sq.ft. center located at the intersection of Dundee Road and Hicks Road, has spaces available from 1,000 sq.ft. to 6,000 sq.ft. Cotenants include Jewel Foods. The asking rent ranges from $18 psf to $22 psf. For details, contact Thomas W. Niemera, DiMucci Cos., 285 West Dundee Road, Palatine, IL 60074; Email: tom@dimucci.com; Web site: www.dimucci.com.
Maryland Parkville – A 2,487 sq.ft. freestanding building situated on a land area of 31,372 sq.ft. at the intersection of East Joppa Road and Old Harford Road will be available during March 2012. Area retail includes Home Depot, Kmart, Shoppers Food Warehouse, Modell’s, Ross Dress for Less, Michaels, Burlington Coat Factory, Safeway, Office Depot, Jo-Ann Fabrics, McDonald’s, Taco Bell, Wendy’s, Popeye’s, Chick-fil-A and Seasons Pizza. Area demographics include a population of 303,596 within five miles earning $58,372 as the median household income. The average daily traffic count is 33,518 vehicles. For details, contact Kenneth T. Sachs, Metropolitan Asset Management, 6207 Old Keene Mill Court, Springfield, VA 20120; www.dealmakers.net
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Massachusetts Chicopee – Market Square, a 36,000 sq.ft. strip center situated on 2.5 acres at the intersection of Exchange Street and Cabot Street, has spaces available of 1,200 sq.ft.; 1,650 sq.ft.; 2,461 sq.ft. and 8,000 sq.ft. Family Dollar anchors the center and cotenants include Store 24, Super Laundry and Rent-A-Center. Area demographics include a population of 227,020 within five miles earning $55,240 as the median household income. For details, contact Richard S. Korris, Northeast Retail Leasing & Management Co., LLC, 360 Bloomfield Avenue, Suite 303, Windsor, CT 06095; 860683-9000, Fax 860-683-1600; Email: rkorris@northeastretail.com.
Michigan Allen Park – Independence Marketplace, located at the intersection of M-39/Southfield Freeway and Outer Drive, has space available. Lowe’s Home Improvement, Staples, Guitar Center, Jo-Ann Etc. and Party City anchor the center. Area demographics include a population of 312,347 within five miles earning $54,095 as the average household income. Lansing – Frandor Mall, located at the intersection of U.S. Highway 127 and Michigan Avenue, has space available. Sears, Kroger, Jo-Ann Fabrics, A.J. Wright, Aco Hardware and Michaels anchor the center. Cotenants include Fitness USA, Cost Plus World Market and Panera Bread. Area demographics include a population of 259,956 within seven miles earning $57,594 as the average household income. The asking annual rent starts at $11 psf NNN. Orion Township – Baldwin Commons, located at the intersection of Baldwin Road and Interstate 75, has space available. Kohl’s, Michaels, Old Navy and DSW anchor the center. Cotenants include Babies “R” Us and Old Navy. Area demographics include a population of 416,765 within 10 miles earning $92,182 as the average household income. For details regarding the Allen Park and Orion Township properties, contact JB Bernard, Lormax Stern Properties, LLC; 248737-4041; Email: bernard@lormaxstern.com; Web site: www.lormaxstern.com. For details regarding the Lansing property, contact Charles House or Max Brochert; Emails: house@lormaxstern.com and max@lormaxstern.com. (continued on page thirty-two) October 29, 2010
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Bay City – Shops at the Bay City Mall, located at the intersection of Wilder Road and State Road, has space available. Walmart Supercenter and Home Depot anchor the center. Cotenants include Sally Beauty Supply, BoRics, Fashion Bug, Dollar Tree, Check ‘n Go and Weight Watchers. Area demographics include a population of 94,366 within 10 miles earning $54,476 as the average household income. The average daily traffic count is 45,000 vehicles. For details, contact Michelle Shafir, Robert B. Aikens & Associates, LLC, 350 North Old Woodward, Suite 300, Birmingham, MI 48009; 248-283-2378, Fax 248-283-1150; Email: shafir@rbaikens.com. Grand Rapids – Cascade East, a 98,881 sq.ft. center located along East 28th Street, has spaces available from 1,123 sq.ft. to 12,205 sq.ft. D&W Fresh Market anchors the center and cotenants include Di’s Hallmark, Thai House Restaurant, Sola Salon, T N Nails, GNC, Curtis Cleaners, Insty Sew and Papa John’s. Area demographics include a population of 63,680 within five miles earning $94,373 as the average household income. Kentwood – A 78,213 sq.ft. center located at the intersection of Eastern Avenue and 52nd Street has space available from 1,147 sq.ft. to 39,265 sq.ft. Cotenants include Dollar Tree, Fitness 19, Hungry Howie’s Pizza, Le’An Boutique, Pain for Sale and Salon 500. Preferred demographics include a population of 190,169 within five miles earning $65,336 as the average household income. Lansing – Delta Center, a 186,246 sq.ft. center located along West Saginaw Highway, has spaces available from 3,300 sq.ft. to 22,950 sq.ft. Hobby Lobby and Bed Bath & Beyond anchor the center. Cotenants include Sally Beauty Supply, Gift Bible Center, Dollar Tree, Party City, Casual Male, Sprint, Red Wing Shoes, SVS Vision and Mail Boxes Etc. Preferred demographics include a population of 105,053 within five miles earning $62,406 as the average household income. For details regarding the Grand Rapids and Kentwood properties, contact Pat Cookingham, Centro Properties Group, 22054 Farmington Road, Farmington, MI 48336; 248-442-5919; Email: pat.cookingham@centroprop.com; Web site: www.centroprop.com. For details regarding the Lansing property, contact Robert Saggese; 248-442-5904; Email: robert.saggese@centroprop.com. page 32
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Rochester – Broadway Commons, a 426,200 sq.ft. center located at the intersection of 28th Street and South Broadway/Highway 63, has space available. Cotenants include Kohl’s, Bed Bath & Beyond, Old Navy, Michaels, The Sports Authority, Famous Footwear, dressbarn, Subway, Curves and Dots. Area retail includes SuperTarget, Walmart, Shopko, Mills Fleet Farm, Menards, Lowe’s Home Improvement and Best Buy. Area demographics include a population of 78,247 within five miles earning $85,803 as the average household income. The average daily traffic count is 27,000 vehicles. For details, contact Jen Helm, NorthMarq, 3500 American Boulevard West, Suite 200, Minneapolis, MN 55431; 952-893-8264; Email: jen.helm@northmarq.com; Web site: www.northmarq.com.
Road, has space available. ShopRite anchors the center. Area demographics include a population of 661,326 within 10 miles earning $95,011 as the average household income. Hackensack – Riverfront Plaza, a 130,000 sq.ft. regional shopping center located along South River Street, has space available. ShopRite anchors the center and cotenants include Subway, Verizon Wireless, Mandee, Chase Bank, GNC and RadioShack. Area demographics include a population of 574,269 within five miles earning $76,187 as the average household income. West Milford – A shopping center located along Union Valley Road has a 3,300 sq.ft. space available along with a divisible space of 20,000 sq.ft. ShopRite anchors the center. Area demographics include a population of 136,476 within 10 miles earning $92,239 as the average household income. For details, contact Ken Fioretti, Crossroads Cos., 20 Ridge Road, Suite 210, Mahwah, NJ 07430; 201-252-2890 Ext. 204; Email: ken@crossroads-companies.com; Web site: www.crossroads-companies.com.
Nebraska Omaha – Westwood Plaza, a 510,000 sq.ft. power center located at the intersection of 120th Street and West Center Road, has spaces available from 920 sq.ft. to 7,917 sq.ft. along with pad sites. Area demographics include a population of 240,000 within five miles earning $81,000 as the average household income. Also, Montclair on Center, a 250,000 sq.ft. power center located at the intersection of 132nd Street and West Center Road, has spaces available from 1,300 sq.ft. to 1,600 sq.ft. along with a divisible anchor space of 43,900 sq.ft. Area demographics include a population of 240,000 within five miles earning $81,000 as the average household income. The average daily traffic count is 70,000 vehicles. Also, Kmart South Center, located at the intersection of 50th Street and L Street, has a 5,737 sq.ft. space available along with a 10,000 sq.ft. space available for build-to-suit. Kmart anchors the center. Also, Benson Park Plaza, a 400,000 sq.ft. center located at the intersection of 72nd Street and Ames Avenue, has spaces available from 1,500 sq.ft. to 8,100 sq.ft. along with a 42,900 sq.ft. pad site available for build-to-suit. Area demographics include a population of 231,500 within five miles earning $53,400 as the average household income. The average daily traffic count is 60,000 vehicles. For details, contact Seldin Co.; 402-3337373; Web site: www.seldin.com.
New Jersey Franklin Township – Crossroads at Somerset, located at the intersection of Elizabeth Avenue and Old New Brunswick Dealmakers
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Garwood – The Mews at Garwood, a mixeduse center located at the intersection of North Avenue and Chestnut Street, has a divisible space of 3,500 sq.ft. available. Cotenants include WaMu. Area retail includes TD Bank, ShopRite, 7-Eleven, Burger King, McDonald’s, Massage Envy and CVS. Area demographics include a population of 354,659 within five miles earning $193,049 as the average household income. Hillsdale – Park Place, a 20,000 sq.ft. mixed-use center located at the intersection of Park Avenue and Patterson Street, has a divisible space of 1,500 sq.ft. available. Area retail includes TD Bank, Wendy’s, Starbucks, Friendly’s, Bensi Restaurant and Kings Supermarket. Area demographics include a population of 217,996 within five miles earning $76,250 as the average household income. South Orange – A 4,400 sq.ft. freestanding building located at the intersection of South Orange Avenue and Valley Street is available. Area retail includes Rite Aid, Starbucks, Carvel, Subway, Dunkin’ Donuts and Cold Stone Creamery. Area demographics include a population of 637,792 within five miles earning $75,672 as the average household income. Westfield – A 4,800 sq.ft. retail building located at the intersection of East Broad Street and North Avenue has a 2,250 sq.ft. space available. Cotenants include Five Guys Famous Burgers and Fries. Area retail includes Talbots, Starbucks, Panera Bread, Cold Stone Creamery, Gap Kids and PNC Bank. Area demographics include a
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population of 330,955 within five miles earning $104,770 as the average household income. For details regarding the Garwood property, contact Ryan Glastein, The Goldstein Group, 45 Eisenhower Drive, Paramus, NJ 07652; 201-703-9700, Fax 201-703-9678; Email: rglastein@thegoldsteingroup.com; Web site: www.thegoldsteingroup.com. For details regarding the Hillsdale property, contact Donald Goldstein; 201-703-9700 Ext. 21; Email: dgoldstein@thegoldsteingroup.com. For details regarding the South Orange and Westfield properties, contact Lew Finkelstein; 201-703-9700 Ext. 22; Email: lfinkelstein@thegoldsteingroup.com.
Canton – 30th Street Plaza, a 157,055 sq.ft. center located at the intersection of Cromer Avenue Northwest and 30th Street, has spaces available of 1,125 sq.ft. and 4,620 sq.ft. Giant Eagle and Marc’s anchor the center and cotenants include Check Into Cash, Sewing Center, Rent-A-Center, Riviera Restaurant, Plaza Barber, Peacock Dry Cleaners, Pet Supplies Plus, Dollar Tree, Dots, Main Moon Chinese Restaurant, Best Cuts and Hollywood Video. Area demographics include a population of 161,084 within five miles earning $59,693 as the average household income. Also, Springbrook Plaza, a 174,353 sq.ft. center located at the intersection of Whipple Avenue and Munson Street, has spaces available from 2,000 sq.ft. to 44,390 sq.ft. OfficeMax anchors the center and cotenants include Countrywide Loans, Once Upon a Child, CitiFinancial, TNT Bootcamp, Tuesday Morning, C-K Nails, Weight Watchers, Abbot Window Fashions and Party Place. Area retail includes Pat Catan’s. Area demographics include a population of 170,533 within five miles earning $65,072 as the average household income. Cincinnati – Brentwood Plaza, a 225,152 sq.ft. center located at the intersection of Winton Road and Ronald Reagan Highway, has spaces available from 1,344 sq.ft. to 8,320 sq.ft. Kroger anchors the center and cotenants include Payless ShoeSource, Hallmark, Key Bank, Conway, Simply Fashions, Jersey Mike’s Subs, GNC, Shoetime, Burke Hardware, Sally Beauty Supply, Fashion Cents, Complete Pet Mart, Magic Wok, GameStop, RadioShack, Dots, Advance Auto, Family Dollar, PNC Bank, Touch of Perfection, H&R Block, Applebee’s, Burger King, KFC and Chipotle. Area demographics include a population of 242,489 within five miles earning $61,893 as the average household income. For details regarding the Canton properties, contact Avi Abroms, Centro Properties Group, 22054 Farmington Road, Farmington, MI 48336; 614-449-7499; Email: avi.abroms@centroprop.com; Web site: www.centroprop.com. For details regarding the Cincinnati property, contact Elizabeth Houser; 514-728-6622; Email: elizabeth. houser@centroprop.com.
291,749 within 10 miles earning $111,928 as the average household income. Tobyhanna – Carriage Square Shopping Center, a strip center located along PA Route 196, has space available. Cotenants include Rite Aid, Family Dollar, Rent-A-Center, H&R Block, Nino Pizza, Pocono Pets and Ace Nails. Area demographics include a population of 56,757 within 10 miles earning $60,390 as the median household income. For details, contact Craig Gerhart, Spring Hill Realty, Inc., 528 Main Street, Suite 200, Harleysville, PA 19438; 215513-7368, Fax 215-513-1036; Web site: www.springhillrealtyinc.com.
New York Maspeth – The Shops at Grand Avenue, a 100,000 sq.ft. strip center located at the intersection of Grand Avenue and 74th Street, has a 5,750 sq.ft. space available. Stop & Shop, Mandee and Party City anchor the center. Cotenants include Ridgewood Savings Bank, Sleepy’s, Petland Discount and Sally Beauty Supply. Area retail includes Queens Center Mall and Queens Place Mall. Area demographics include a population of 2.616 million within five miles earning $72,711 as the average household income. For details, contact Adam M. Caplan. Capstone Realty, LLC, 141-07 20th Avenue, Suite 507, Whitestone, NY 11357; 718747-6700, Fax 718-747-7793; Email: acaplan@capstonerealtynyc.com; Web site: www.capstonerealtynyc.com.
North Carolina Charlotte – Albemarle Crossing Shopping Center, a 26,828 sq.ft. strip center located at the intersection of Dwightware Boulevard and Albemarle Road, has spaces available of 1,200 sq.ft. and 1,500 sq.ft. Cotenants include RadioShack, Hollywood Video, Chick-fil-A, Great Clips, Domino’s Pizza and New Wave Tan. Area retail includes Walmart and Food Lion. Also, Lanier Plaza, a 40,932 sq.ft. strip center located at the intersection of East Independence Boulevard and Lanier Avenue, has spaces available of 1,425 sq.ft.; 1,726 sq.ft. and 2,694 sq.ft. Cotenants include Leslie’s Pool Supply, Las Margaritas Mexican Restaurants and Micro Computer Systems. For details, contact Kathleen Taylor, Collett & Associates, 1111 Metropolitan Avenue, Suite 700, Charlotte, NC 28204; 704-2068343; Email: ktaylor@collett.biz; Web site: www.collett.biz.
Pennsylvania Harleysville – Shelly Square Shopping Center, an 82,000 sq.ft. strip center located at the intersection of PA Route 63 and Shelly Road, has space available. Landis Supermarket anchors the center and cotenants include Univest National Bank and Trust. Area demographics include a population of www.dealmakers.net
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Lower Nazareth Township – Lower Nazareth Commons, a 79,118 sq.ft. center located at the intersection of State Route 248/Nazareth Pike and Corriere Road, has a 1,637 sq.ft. space available along with two spaces each of 1,200 sq.ft. and 1,600 sq.ft. and a one-acre outlot. The Sports Authority anchors the center and Target and Wegmans shadow-anchor the center. Cotenants include Buffalo Wild Wings, PNC Bank, AT&T Mobility, Chick-fil-A, Zoup!, Foyoco Beauty Supply, Visionnaires, Nail Trix, Great Clips and Five Guys Famous Burgers and Fries. Area demographics include a population of 118,819 within five miles earning $75,238 as the average household income. Wayne – Gateway Shopping Center, a 219,257 sq.ft. center located at the intersection of Gateway Center and East Swedesford Road, has spaces available from 825 sq.ft. to 5,211 sq.ft. Staples and T.J. Maxx anchor the center and cotenants include Ann’s Tailoring, Bike Line, Zinman Furs, Home Furnishing Consignment, Five Below, Jo-Ann Fabrics, Saladworks, Hallmark, Trader Joe’s, dressbarn, Mattress Giant, Sally Beauty Supply, Mesa Fresh Mexican Grill, Gateway Cleaners, Justice, Five Guys Famous Burgers and Fries, Famous Footwear, Panera Bread, Little Tokyo Japanese Steak House, Portrait Innovations, Massage Envy, Partyland, The UPS Store and Outback Steakhouse. Area demographics include a population of 41,754 within three miles earning $133,569 as the average household income. The average daily traffic count is 82,515 vehicles. For details regarding the Lower Nazareth Township property, contact Howard Schussler, Regency Centers; 610-747-1224; Email: howardschussler@regencycenters.com; Web site: www.regencycenters.com. For details regarding the Wayne property, contact David Sherin; 610-747-1212; Email: davidsherin@regencycenters.com. (continued on page thirty-four) October 29, 2010
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Summerville – Shoppes of Summerville, located at the intersection of Old Orangeburg Road and Central Avenue, has a 23,800 sq.ft. space available. Publix anchors the center. Area demographics include a population of 65,056 within five miles earning $52,608 as the average household income. The average daily traffic count is 30,000 vehicles. For details, contact Paradise Ventures, Inc., 2901 Rigsby Lane, Safety Harbor, FL 34695; 727-726-1115, Fax 727-726-2337; Web site: www.paradiseventuresinc.com.
Virginia Newport News – Jefferson Market Place, a mixed-use center located at the intersection of Jefferson Avenue and Bland Boulevard, has space available along with outlots. Area retail includes Walmart, Sam’s Club, Kohl’s, Home Depot, Lowe’s Home Improvement, Farm Fresh and Michaels. Area demographics include a population of 149,359 within five miles earning $58,017 as the median household income. The average daily traffic
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count is 100,110 vehicles. Virginia Beach – Courthouse Marketplace, a 122,000 sq.ft. center located at the intersection of Princess Anne Road and Nimmo Parkway, has space available from 2,046 sq.ft. along with outlots. Harris Teeter anchors the center and cotenants include Mo Mo Japanese Restaurant, H&R Block, Weight Watchers, Curves, The UPS Store, One Touch Nails, Quiznos, Drop Click, East Wok and Great Clips. Area retail includes Home Depot, Target, Walmart, Best Buy, Starbucks, One Life Fitness, Kohl’s, BooksA-Million, Buffalo Wild Wings, Bed Bath & Beyond and PetSmart. Area demographics include a population of 128,183 within five miles earning $70,825 as the average household income. For details regarding the Newport News property, contact Troy Parker or Chris Rouzie, Thalhimer Commercial Real Estate, Westmoreland Building, 5700 Cleveland Street, Suite 400, Virginia Beach, VA 23462; 757-457-9998 or 757-596-2897; Emails: troy.parker@thalhimer.com and chris.rouzie@thalhimer.com. For details regarding the Virginia Beach property, contact Chris Good or Eric Stanley;
757-213-4159 or 757-499-2739; Emails: chris.good@thalhimer.com and eric.stanley@thalhimer.com.
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Wisconsin Hartland – Hartbrook Mall, a 102,770 sq.ft. center located at the intersection of Highway 16 and Merton Avenue, has spaces available from 1,960 sq.ft. to 20,440 sq.ft. Cotenants include Great Midwest Bank, Shear Dimensions, Meyer Jewelers, Hartbrook Café, J. Hale Music, Lake Country Pets, U.S. Cellular, Curves, Pepino’s Pizza, Hartbrook Cut & Style and Walgreens. Area demographics include a population of 87,256 within seven miles earning $100,235 as the average household income. The average daily traffic count is 40,600 vehicles. The asking rent ranges from $8 psf to $14 psf NNN with CAM of $1.53 psf and taxes of $0.88 psf. For details, contact Peter Glaser or CJ Goldberg, CB Richard Ellis, 777 East Wisconsin, Suite 3250, Milwaukee, WI 53202; 414-2741639/1658; Emails: peter.glaser@cbre.com and cj.goldberg@cbre.com; Web site: D M www.cbre.com/milwaukee.
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Great Opportunities in DLC’s Midwest Portfolio!
Illinois Anchors Coral Plaza- Oak Lawn Cardinal Fitness Wing Park Shopping Center- Elgin Walgreens Marketplace Shopping CenterBest Buy & Fairview Heights Burlington Coat Factory University Place- Carbondale T.J. Maxx & Dick’s King City Square- Mt. Vernon Kroger Northland Plaza- DeKalb JC Penney & Bed Bath The Oaks of Oak Brook- Oak Brook AthletiCo Indiana Crossroads Center- Schererville Strack & Van Til & Wal-Mart River Pointe Mall- Madison Kroger Nora Corners- Indianapolis Marsh Supermarket Ultra Highland Plaza- Highland Ultra Foods & A.J. Wright Iowa University Park- Clive Toys ‘R Us & Jo-Ann Fabrics Kentucky Fayette Place- Lexington Marshalls & Shoe Carnival
NEW LOOK. SAME DEALMAKERS.
Michigan Anchors Drakeshire Shopping Plaza- Farmington Botsford Hospital Merchants Crossing- Jackson Kroger West River Centre- Farmington Hills Target Missouri Florissant Square- Florissant Walgreens Nebraska East Park Plaza- Lincoln Russ’s Market Ohio Northern Lights Shopping Center- Columbus Kroger & Sears Salem Consumer Square- Trotwood Cub Foods Fort Steuben Mall- Steubenville Wal-Mart Supercenter Midtown Plaza- Parma Marc’s Skytop Pavilion- Cincinnati Bigg’s Supermarket Wisconsin High Ridge Centre- Racine Home Depot
For more leasing information on DLC’s Midwest Portfolio contact Nathan Tonnies - ntonnies@dlcmgmt.com I 877.701.1700 www.dlcmgmt.com/midwest
Visit us at the ICSC Chicago Deal Making • October 28 - 29 • Booth 712