Reporting The Nation’s Weekly News on Retailing & Retail Real Estate
Volume XXV No. XLIV
November 19, 2010
Supermarket Chains Expand Nationwide Supersave trades as North Texas Supersave and Weatherford Supersave at five locations throughout the Dallas/Ft. Worth, TX metropolitan area. The supermarkets occupy spaces of 22,000 sq.ft. to 41,000 sq.ft. in freestanding locations. The supermarkets also feature deli and bakery departments. Growth opportunities are sought throughout the existing market during the coming 18 months. Typical leases run five to 10 years. Preferred cotenants include dollar stores. For more information, contact Bill Kiker, Supersave, 102 College Park Drive, Weatherford, TX 76086; 817599-0607, Fax 817-596-5599; Web site: www.supersavefoods.com.
Big Saver Foods operates 16 locations throughout CA. The supermarkets occupy spaces of 20,000 sq.ft. to 40,000 sq.ft. in freestanding locations, power and strip centers and urban/downtown areas. Growth opportunities are sought throughout southern CA during the coming 18 months. Typical leases run 20 years. Preferred demographics include a population of 100,000 within two miles earning $30,000 as the average household income. Major competitors include R-Ranch Markets. The company prefers to locate in areas with high foot and vehicle traffic counts. For more information, contact Ukabhai Solanki, Big Saver Foods, 4260 Charter Street, City of Vernon, CA 90058; 323-582-7222, Fax 323-582-2331.
General Real Estate Corp. trades as Sedano’s Supermarkets at 34 locations throughout central and southern FL. The supermarkets occupy spaces of 25,000 sq.ft. to 45,000 sq.ft. in freestanding locations and neighborhood and power centers. Growth opportunities are sought throughout the existing markets during the coming 18 months. Typical leases run five years with four, fiveyear options. Preferred demographics include a population of 25,000 within three miles. The company prefers to locate in areas with high foot and vehicle traffic counts. For more information, contact Damon DelRossi, General Real Estate Corp., 8500 Southwest 8th Street, Suite 228, Miami, FL 33144; 305-262-6533, Fax 305-262-4118; Web site: www.sedanos.com.
Walter Lagestee, Inc. trades as Walt’s Food Center at seven locations throughout IL and IN. The supermarkets occupy spaces of 45,000 sq.ft. to 55,000 sq.ft. in freestanding locations and strip and value centers. Growth opportunities are sought throughout IL during the coming 18 months. Typical leases run 10 to 20 years. A vanilla shell is required. Preferred cotenants include Lord & Taylor and T.J. Maxx. Preferred demographics include a population of 35,000 within 10 miles earning $65,000 to $75,000 as the average household income. For more information, contact Bob Lagestee, Walter Lagestee, Inc., 330 West Taft Drive, South Holland, IL 60473; 708-596-3166, Fax 708-5960888; Web site: www.waltsfoods.com. (continued on page twelve)
This issue contains information on:
* Retailers operating 64,785 locations with plans to open 5,552 sites * Real estate valued in excess of $33.9 million to be bought, sold & financed * Leasing activity on over 4 million sq.ft. of retail properties
Important News Please Expedite
Postmaster: Periodical
Featuring ICSC Texas Conference New Construction NewQuest Properties is developing a mixed-use project in New Braunfels, TX................ Pg. 3 Observations & Conversations Pg. 4 Buyers & Sellers The Weitzman Group is selling a center situated on 8.8 acres in Plano, TX.................................. Pg. 5 Profile CB Richard Ellis – Houston....... Pg. 6 Food Retailers Expand Rocky Mountain Chocolate Factory seeking locations nationwide............................... Pg. 7 Openings Anna’s Linens, Inc. to open 40 Anna’s Linens stores nationwide next year.................................. Pg. 8 Donatos plans to double its restaurant count during the coming 10 years....................... Pg. 10 In the News Aztec Group, Inc. hired Kevin Miliffe as director..................... Pg. 9 Lease Signings Planned Community Developers, Ltd. negotiated a lease with Designs in Gems for space in Sugar Land, TX............ Pg. 9 Exclusives Retail Net Lease Properties, Inc. represents Rolling Rice Japanese Restaurants throughout select markets in CA........................... Pg. 11 Lead Sheet Enmark looks to open locations throughout markets in GA and NC........................................... Pg. 13 Calloway’s Nursery, Inc. seeking sites throughout TX................... Pg. 16 Space Place.............................. Pg. 17
For more news go to: www.dealmakers.net Mobile Access Code: texasconf2010
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You Can Stop Shopping for a New Center Introducing The Gallery at Westbury Plaza – in the heart of Long Island’s shopping capital Equity One is breaking ground on what promises to be one of the premier shopping venues in the country. Located between two of the nation’s most successful shopping centers – Roosevelt Field Mall and Equity One’s Westbury Plaza – The Gallery at Westbury Plaza will be the newest addition to this shopping mecca. With 1,100 feet of frontage on Old Country Road, ample parking, and a LEED-certified design, your customers will be happy to visit you again and again. For more information about The Gallery at Westbury Plaza or our development plans for the tri-state area, please go to www.equityone.net or contact: Michael Berfield, Vice President – Development 212-796-1742 mberfield@equityone.net
New Construction WelCor Development is developing Pittsboro Commons, a 425,000 sq.ft. power center project located at the intersection of NC Highway 15-501 and NC Highway 64 in Pittsboro, NC. Outlots of 43,560 sq.ft.; 85,120 sq.ft. and 170,240 sq.ft. are available. Area retail includes Lowe’s Home Improvement. Area demographics include a population of 38,832 within 10 miles earning $84,675 as the average household income. The center is slated to open next June. The company is also developing Alston Town Center, a mixed-use project situated on 100 acres at the intersection of Interstate 540
President/Publisher.............................. Ann O'Neal ann@dealmakers.net Vice President .................................. Alyson Parker alyson@dealmakers.net Art Director................................. Anthony Pingicer anthony@dealmakers.net Editor.................................................. Erin Dunkley erin@dealmakers.net Editor............................................... Adam Taliercio adamt@dealmakers.net Customer Service....................... Bridget Thoresen custserv@dealmakers.net Founder..................................................... Ted Kraus 1979–2007
The Dealmakers (ISSN 1055-0771) is published weekly except for the weeks of January 1st, July 4th, the ICSC's Spring and Fall Conventions and December 25th for $294 per year U.S., foreign $319 by TKO Real Estate Advisory Group Inc. PO Box 2630 Mercerville, NJ 08690-0630. TM
The Dealmakers TM reports on over 20,000 retailers, developers and management companies every year. It is written by real estate professionals for real estate professionals. The newsletter keeps readers abreast of the latest leasing, development and management changes occurring in the real estate industry on a weekly basis. NOTE: Current federal law requires written consent from a company prior to utilizing the published fax number. Share The Dealmakers TM with your organization or service for free. Just let us know when your next meeting is and we'll send you copies of our issue for free for your members to learn how to be a better dealmaker! POSTMASTER: Send address changes to The Dealmakers, PO Box 2630 Mercerville, NJ 086900630. Periodical postage paid at Trenton, NJ and at additional mailing offices. Affiliated with Tenant Search, E.S.P., E-Blast Copyright 2010 by TKO Real Estate Advisory Group Inc. 609-587-6200, fax 609-587-3511.
and NC Highway 55 in Cary, NC. Outlots of 43,560 sq.ft.; 85,120 sq.ft. and 212,800 sq.ft. are available. Area demographics include a population of 358,404 within 10 miles earning $92,313 as the average household income. The average daily traffic count is 30,400 vehicles. The center is slated to open next summer. The company is also developing Westpoint @ 751, a mixed-use project situated on 14 acres at the intersection of NC Highway 751 and Renaissance Parkway in Durham, NC. Outlots of 42,560 sq.ft. and 85,120 sq.ft. are available. Area retail includes Southpoint Mall, Target, Nordstrom, Restoration Hardware and Ann Taylor. Area demographics include a population of 351,338 within 10 miles earning $79,181 as the average household income. The average daily traffic count is 134,000 vehicles. The center is slated to open next June. For more information, contact Jim Broemer, WelCor Development, 4900 Waters Edge Drive, Suite 270, Raleigh, NC 27606; 919-379-9288, Fax 919-882-9232; Email: jbroemer@welcordevelopment.com; Web site: www.welcordevelopment.com. NewQuest Properties, with Lockard Development, is developing the second phase of Town Center at Creekside, a mixed-use project located at the intersection of Interstate 35 and Loop 306 in New Braunfels, TX. Space is available along with anchor and junior anchor spaces. The project will also include a multifamily component and a hospitality component. Target, PetSmart, Ross Dress for Less, Best Buy, Dick’s Sporting Goods, JCPenney, Maurices, dressbarn and Famous Footwear anchor the center. Cotenants include Mattress Firm, AT&T Mobility, Subway, GameStop, Verizon Wireless and Longhorn Steakhouse. Area demographics include a population of 148,440 within a 20-minute drive-time earning $56,226 as the average household income. The average daily traffic count is 86,000 vehicles. For more information, contact Mark Sondock, Eric Walker or Tal McIver, NewQuest Properties, 8827 West Sam Houston Parkway North, Suite 200, Houston, TX 77040; 281-477-4300, Fax 281-4774399; Web site: www.newquest.com. The Whitfield Co. is preleasing Steiner Ranch, a 160,000 sq.ft. neighborhood shopping center situated on 69 acres at the intersection of RR 620 and Quinlan Park Road in Austin, TX. The center is slated to open next year. For more information, contact Gail M. Whitfield, The Whitfield Co.; 512-476-9900; Email: gwhitfield@thewhitfieldco.com. www.dealmakers.net
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NAI Emory Hill is preleasing Pike Creek Town Center, an 84,725 sq.ft. project located near Route 7/Limestone Road in Pike Creek Valley, DE. Area retail includes Wilmington Trust Bank, Wawa, Happy Harry’s and Pike Creek Shopping Center, featuring Acme, Kmart, Rite Aid, Ruby Tuesday and Blockbuster Video. Area demographics include a population of 145,176 within five miles earning $87,559 as the average household income. The average daily traffic count is 18,000 vehicles. For more information, contact Jim O’Hara, Jr., NAI Emory Hill; 302-266-8490, Fax 302322-9518; Email: jimohara@emoryhill.com; Web site: www.emoryhill.com. Strategic Development Advisors, with CB Richard Ellis and Developers Diversified Realty, is developing The Festival at San Jacinto, an 807,158 sq.ft. community shopping center project situated on 84.5 acres at the intersection of Sanderson Avenue and Ramona Expressway in San Jacinto, CA. Space is available. Target will anchor the center. Area demographics include a population of 226,513 within 10 miles earning $52,985 as the average household income. The average daily traffic count is 55,016 vehicles. The center is slated to open during the fourth quarter of next year. For more information, contact Hamo Rostamian or Ielen Sarkisian, Strategic Development Advisors; 626-243-5288/5290; Emails: hamo.rostamian@sdacre.com and ielen.sarkisian@sdacre.com; Web site: www.sdacre.com. Or Peter Moersch, CB Richard Ellis; 714-939-2201; Email: peter.moersch@cbre.com; Web site: www.cbre.com. MBA Development Partners is developing Fountains East, located at the intersection of Jog Road and Boynton Beach Boulevard in Boynton Beach, FL. Space is available. Area demographics include a population of 194,868 within five miles earning $70,525 as the average household income. For more information, contact MBA Development Partners, 433 Plaza Real, Suite 275, Boca Raton, FL 33432; 561-241-1800; Web sites: www.mbadevelopmentpartners.com and www.mbabrokerage.com. LM Development Group is redeveloping a 68,000 sq.ft. United Artist Movie Theatre situated on 5.3 acres in Pembroke Pines, FL. For more information, contact LM Development Group, 3325 South University Drive, Suite 201, Davie, FL 33328; 954-476D M 0800. November 19, 2010
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Observations & Conversations My gut says that leasing activity is picking up in Texas, but I’m not so sure about shopping center acquisitions in the state. This issue is being distributed at the ICSC’s Texas Dealmaking. You might not know, but I grew up in Texas. I went to high school in Ft. Worth and then to Texas Christian University. When TCU was tired of my antics, I moved on to the University of Texas in Austin, before I made the big leap to Rutgers in beautiful downtown New Brunswick, New Jersey. I grew up around Mansfield, about an hour from Dallas, and my folks had a farm in Marshall – that’s in east Texas near Shreveport, Louisiana. (My father operated a chain of supermarkets in the state, and that’s probably where I got the bug for retail – sometimes you can’t deny your DNA.) In my day, decades ago, if it wasn’t a plane ride to New York for a shopping trip, then Neiman Marcus, Stripling & Cox and Foley’s were the places to shop for fancy duds. Today, Foley’s operates as Macy’s, Stripling & Cox went defunct in 2007, and now Neiman Marcus is going after a bargain customers with its new concept, Last Call Studio. Another fashion chain soon to be staking its claim in the Texas market is GARAGE. The Canadian company has stateside stores catering to teenage girls in Miami, in the DC metro area, at the Mall of America in Minnesota, three stores each in New Jersey and New York, and one each in Pennsylvania and Virginia. H&M is also entering the Texas market with its first store slated to open in Dallas next year with 24,000 sq.ft. at NorthPark Center. Texas has always been a strong market for fashion retailers, but I’ve also come across a few interesting and unique concepts coming to the state. About four months ago, Zoom Room opened its second franchise store in Austin. The 2,000 sq.ft. concept is an indoor agility fun house for dogs and their owners, along with therapy dog training and a retail component offering organic dog food, bedding, leashes, etc. The company just signed franchise agreements in California, Colorado, Florida, and Wisconsin, and projections call for about 12 openings nationwide next year for the Zoom Room concept. Another interesting concept that is continuing its growth in Texas is Bricks 4 Kidz, a children’s educational and enrichment program featuring a retail section offering LEGO products, that operates in shopping centers. The franchised concept has three franchisees already in Texas and plans more not only in that state but also in Arizona, California, Colorado, Florida and Nevada. New food concepts coming to the Texas marketplace include Teriyaki Experience, with a franchised location opening in Houston. The company plans to open 45 locations throughout the greater Houston trade area during the next ten years, along with a national rollout of 600 units within seven years. Texas Hill Country Barbecue, Inc., a purveyor of smoked meat, also plans to roll out a chain of restaurants in Texas. The first four units of the chain are debuting in Dallas, with another seven locations opening during the first quarter of next year in the Dallas/Ft. Worth metroplex, as part of a plan to open 18 page 4
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locations within the coming two years. A few West Coast institutions are also coming to Texas: Fatburger is looking at sites in Dallas with the possibility of a franchisee opening up the entire DFW territory, and In-N-Out Burger also plans to open units in Dallas next year. My gut says that leasing activity is picking up in Texas, but I’m not so sure about shopping center acquisitions in the state. There are tons of retail sites for sale throughout Texas. I’ve gotten at least 50 submittals on retail properties for sale in the past 60 days just from Texas alone. I did hear about Centennial Real Estate acquiring a 45,500 sq.ft. Dollar Tree-anchored center in Saginaw, a small town near Ft. Worth, but I’m not hearing much else about companies actually closing on centers in Texas. The product that I’m seeing for sale isn’t lender-owned for the most part, and runs the gamut from a Jiffy Lube in Houston at an 8.9% Cap rate to Hillcrest Crossing, a trophy mixed-use project in Dallas, which was taken over by its lender. I’ve also gotten far more solicitations to buy raw dirt in Texas than any other state on my radar, but my hunch is that the only real movement of raw dirt in the state is for pad sites and outparcels for freestanding restaurants, drug stores and service tenants. On the new development side, one of the larger projects being undertaken in the state is a $300 million mixed-use project, Hebron 121 Station, in Lewisville, featuring 1,700 multi-family units and 250,000 sq.ft. of retail/office users. The site is adjacent to a new transit rail station. Another new shopping center in Texas is Flatrock Springs, located in Marble Falls, northwest of Dallas. This project is being developed by SouthStar Development Partners and will feature 700,000 sq.ft. of retail and office space, along with 2,500 residential units. In Forney, east of Dallas, EDGE Realty Partners is developing a 450,000 sq.ft. grocery-anchored center. The project, The Village of Meadow Ridge Farms, is expected to break ground next year and open during 2013. This shopping center was originally slated to open this year; maybe this is just the beginning of reinvigorating a few stalled projects throughout the state. On that good note, I have to wrap it up. A few reminders: In this issue is a feature on CB Richard Ellis and their take on the Texas market. The article gives a good overview of leasing and sales activity in the state. Alyson and myself are tethered to our desks getting prepped for the ICSC show in New York next month. Our white knight, Anthony (also known as our art director), is manning the booth at the ICSC Texas show, so stop by and say hello. If we miss you at the Texas show, make sure you stop by in New York at the ICSC’s Eastern States Dealmaking during December.
Ann O’Neal, Publisher
www.dealmakers.net
Buyers and Sellers The Weitzman Group is selling Parker Road Marketplace, situated on 8.8 acres at the intersection of Parker Road and Jupiter Road in Plano, TX. Area retail includes Costco, Staples and Fiesta. Area draws include Collin County Community College. Area demographics include a population of 928,722 within 10 miles earning $98,636 as the average household income. The average daily traffic count is 44,112 vehicles. For more information, contact JC Burciaga, The Weitzman Group, 3102 Maple Avenue, Suite 350, Dallas, TX 75201; 214-720-3626, Fax 214-953-0866; Email: jcb@weitzmangroup.com; Web site: www.weitzmangroup.com. Marcus & Millichap Real Estate Investment Services is selling a TD Bank situated on 1.26 acres along Liberia Avenue in Manassas, VA. Area retail includes Applebee’s, Arby’s, McDonald’s and Signal Hill Shopping Center, featuring GameStop, Walmart and Panera Bread. The tenant is bound to a 20-year ground lease featuring 10% rent escalations every five years. The asking price is $5.95 million with a Cap rate of 6%. For more information, contact Peter Snell, Marcus & Millichap Real Estate Investment Services, 7200 Wisconsin Avenue, Suite 1101, Bethesda, MD 20814; 202-536-3793, Fax 202-536-3710; Email: peter.snell@marcusmillichap.com; Web site: www.marcusmillichap.com. SRS Real Estate Partners is selling a 15,000 sq.ft. Gegnas Automotive situated on 2.33 acres along Kensington Avenue in Philadelphia, PA. Area retail includes Burlington Coat Factory, Wawa and Save-ALot. Area demographics include a population of 330,592 within three miles earning $33,231 as the median household income. The average daily traffic count is 12,000 vehicles. The asking price is $1.95 million. For more information, contact Rich Weitzman, SRS Real Estate Partners, 50 Monument Road, Suite 205, Bala Cynwyd, PA 19004; 610-934-7138; Email: rich.weitzman@srsre.com; Web site: www.srsre.com. Hull Storey Gibson Cos., LLC acquired Macon Mall, a 1.445 million sq.ft. mall located along Eisenhower Parkway near Interstate 475 in Macon, GA. At the time of sale, the center was anchored by Belk, JCPenney, Macy’s and Sears. For more information, contact Hull Storey Gibson Cos., LLC, 1190 Interstate Parkway, Augusta, GA 30909; 706-8632222, Fax 706-868-7457; Web site: www.hullstoreygibson.com.
EXP Realty Advisors is selling a PetSmart subleased to 6th Avenue Electronics located along Route 10 West in Livingston, NJ. The tenant is bound to a NNN lease with five years remaining on the lease term featuring two, five year options with 22% rent escalations. Area retail includes Home Depot, Marshalls, Toys “R” Us, Barnes & Noble and The Sports Authority. Area demographics include a population of 135,000 within five miles earning $156,000 as the average household income. The NOI is $470,576. The asking price is $5.378 million with a Cap rate of 8.75%. For more information, contact EXP Realty Advisors; 212-972-7457, Fax 212-6860078; Email: exp@exp1031.com; Web site: www.exp1031.com. The Rotella Group, Inc. is selling a freestanding 6,303 sq.ft. former Roadhouse Grill situated on a land area of 44,450 sq.ft. along Pines Boulevard in Pembroke Pines, FL. Area demographics include a population of 166,582 within three miles earning $65,306 as the average household income. The average daily traffic count is 51,500 vehicles. The asking price is $1.475 million. For more information, contact Steve Miller or Buzz Smith, 3300 North Federal Highway, Suite 200, Ft. Lauderdale, FL 33306; 954-568-9015, Fax 954-568-9597; Emails: steve@rotellagroup.com and buzz@rotellagroup.com; Web site: www.rotellagroup.com. RDO Investments, with Trans State International, is selling Delhi Shopping Center, located in Cincinnati, OH. The center is 100% leased with tenants including Aldi, Dollar General, First Franklin Bank and PNC Bank. The asking price is $5.793 million. For more information, contact Ryan O’Connell, RDO Investments, 3810 East Coolidge Street, Phoenix, AZ 85018; 602-595-4000; Email: ryan.oconnell@rdoinvestments.com. Or Joan Daugherty, Trans State International; 513-251-0666; Email: tsi@fuse.net. CB Richard Ellis is selling a 14.22-acre parcel located along Idyllwild Drive in San Jacinto, CA. Area retail includes Panda Express, Denny’s, 7-Eleven, Rite Aid, Stater Bros., Subway, Starbucks, Del Taco, Verizon Wireless, Carl’s Jr., U.S. Bank, Jack in the Box and Dairy Queen. The asking price is $2.75 million. For more information, contact Scott Stewart, CB Richard Ellis, 38975 Sky Canyon Drive, Suite 208, Murrieta, CA 92563; 951326-2936; Email: scott.stewart@cbre.com; Web site: www.cbre.com. www.dealmakers.net
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Rivercrest Realty Investors acquired McDonough Marketplace, a 53,158 sq.ft. center located off Interstate 75 in McDonough, GA. At the time of sale, the center was tenanted by Cracker Barrel, Office Depot, Dollar Tree, Shoe Show and H&R Block. For more information, contact Rivercrest Realty Investors, 8816 Six Forks Road, Suite 201, Raleigh NC 27615; 919-8464046, Fax 919-424-0001; Web site: www.rivercrestrealty.com. Edgemark Commercial Real Estate Services, LLC is selling a 22,000 sq.ft. pad site located along South Cicero Avenue in Chicago, IL. Area draws include Chicago Midway Airport. For more information, contact Edgemark Commercial Real Estate Services, LLC, 2215 York Road, Suite 503, Oak Brook, IL 60523; 630-472-1010, Fax 630-472-1019; Web site: www.edgemarkllc.com. Newmark Knight Frank|Cornish & Carey Commercial is selling The Promenade, located in Emeryville, CA. CVS shadowanchors the center. The asking price is $5.95 million with a Cap rate of 7.16%. For more information, contact Michael Maffia or Putnam Daily, Newmark Knight Frank|Cornish & Carey Commercial; One Bush Street, Suite 400, San Francisco, CA 94104; 415-445-5144/5107; Emails: mmaffia@ccareynkf.com and pdaily@ccareynkf.com. LandQwest Commercial is selling a 22.06acre parcel located at the intersection of Old Burnt Store Road North and Northwest 48th Terrace in Cape Coral, FL. The asking price is $1.323 million. For more information, contact Stephen A. Cunningham, LandQwest Commercial, 12800 University Drive, Suite 150, Ft. Myers, FL 33907; 239-275-4922, Fax 239-275-4699; Email: scunningham@lqwest.com; Web site: www.lqwest.com. Linear Retail Properties, LLC acquired a 15,103 sq.ft. Rite Aid located at the intersection of Route 110 and Littleton Road in Burlington, MA. The company acquired the property from Sovereign RA II, LLC for $3.4 million. Eastern Net Lease Advisors represented the company in the transaction. For more information, contact Diana Podaski, Linear Retail Properties, LLC, 5 Burlington Woods Drive, Suite 107, Burlington, MA 01803; 781-273-5665 Ext. 218; Email: dpodaski@linearretail.com; Web site: www.linearretail.com. DM November 19, 2010
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cb richard ellis – Houston
Profile — A monthly column featuring retailers and retail real estate companies
An international organization making a regional impact
Adam Taliercio CB Richard Ellis is an international commercial real estate firm offering a wide range of services including tenant and landlord representation, investment sales, debt and equity, development consulting and portfolio optimization for retail, office and industrial properties worldwide. The company maintains several offices throughout Texas, including branches in Austin, San Antonio, Arlington, Dallas Ft. Worth and two offices in the Houston, TX area: Houston Galleria, housing CB Richard Ellis’ brokerage, investment, asset management and evaluation services, and a downtown Houston office handling corporate services and global energy practice. The company first established a presence in Houston during 1969, as the Los Angeles-based firm began to expand eastward in the U.S. It was the acquisition of Trammell Crow Co. in December of 2006, however, that allowed the company to develop a strong retail presence within the region. “CB Richard Ellis had a good presence in other areas of the business, but we were not a strong retail brand in Texas,” explained Naveen Jaggi, senior managing director of retail services for the Americas, who operates out of the Houston Galleria office. “With the acquisition of Trammell Crow, we were able to pick up a very robust retail team that specializes in development consulting.” The company now maintains a solid retail presence in Dallas and San Antonio as well as Houston as a result of the Trammell Crow acquisition, and has become particularly known Naveen Jaggi for its specialists in retail and Senior Managing Director of Retail industrial services throughout Services for the Americas the area, Jaggi said. In general, Texas has fared rather well from an economic standpoint during the past few years in comparison to other parts of the Sun Belt such as Arizona, Florida, and the Inland Empire area of CA. Jaggi attributed this to the state’s continuing population and job growth, whereas there has been a migration away from Arizona and California. Still, while the state itself has perhaps weathered the recession better than others, like most in the industry, CB Richard Ellis has seen fit to adjust the way it does business in order to better respond to the economic situation. “Our client’s best interests have always been our top priority; that hasn’t changed,” Jaggi said. “What has changed is our focus on improving ourselves to offer more “best-of-class” services to our clients than anyone else.” He said that the company has addressed this by recruiting talented individuals who specialize in areas of the industry it felt necessary to strengthen, such as retail investment sales within the Houston region. “Two or three years ago, we didn’t have dedicated specialists at the highest level of the retail segment, as we do today,” Jaggi said. “Now we have people working on projects or products that can range anywhere from $5 million to $30 million.” page 6
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Also, rather than approaching a deal with a client as a singular opportunity, the company makes a concentrated effort to keep each client apprised of its ability to service their real estate needs as they come. “We don’t get stuck on the idea that talking to a client is about one task; we may be able to help then in other ways,” Jaggi said. “For example, I was recently visiting Staples, and they didn’t really need anything specific from CB Richard Ellis as it relates to Houston or the U.S. in general, but they did have a need for assistance with an industrial warehouse in Beijing. Because of the large scope of our company, it was easy to ask one person in the U.S., to help solve a problem in another country.” The company’s international presence frequently proves beneficial, in that it allows for an enormous amount of real-time transaction information, Jaggi added. This wealth of information is typically attractive to retailers who are considering entry into new markets both in the U.S. and abroad. Recent accomplishments Jaggi sited for the company within the state include the representation of Iberia Bank as they enter into the market with branches at Memorial City Mall, Greenway Commons and Houston Medical Center, all located in Houston and slated to open next year. CB Richard Ellis also represents Whataburger throughout the Dallas/Ft. Worth market, and recently represented the landlord in the leasing of 32,748 sq.ft. at South Frisco Village in Dallas to buybuy Baby. The company is also, with Reata Real Estate Services, preleasing Cameron Crossing, a regional power center project being developed in phases in Harlingen, TX. The development will feature a 500,000 sq.ft. retail component along with 17 pad sites. Bass Pro Shops will anchor the center with a 150,000 sq.ft. store slated to open next September. Additional projects in development include Timbercreek Crossing, a 475,000 sq.ft. center to be anchored by Sam’s Club, Walmart and JCPenney, and West Love Market, a 169,000 sq.ft. project, both in Dallas. Timbercreek Crossing is slated to open next fall. As has proven the case throughout most of the country, value retailers in particular are doing well in Texas, and continuing to improve – Jaggi mentioned Ross Dress for Less, The TJX Cos., Walmart and Dollar General as particularly strong examples. “Landlords are constantly seeking quality experienced retailers with a successful track record, or retailers that are well-underwritten and have the financial wherewithal to sustain themselves during challenging times,” he said. “Retailers that focus on core essential products with an emphasis on price combined with a pleasant shopping experience will continue to gain market share.” Occupancy rates at Houston-area shopping centers have remained relatively stable, although certain parts of the area have held up better than others, Jaggi said. The most important factor toward maintaining healthy rates, he added, is to ensure that a client receives as much timely information as possible to assist during negotiations. “Whether from a tenant or landlord perspective, the most valuable tool a client needs is current street benchmarks to support and validate any decision being contemplated,” he said, adding that the office employs four full-time research specialists devoted to providing clients with as much information as possible for use during negotiations. Currently, grocery-anchored shopping centers with top-credit tenants are in especially high demand as investments in the region. “We’re seeing a trend toward core retail products as opposed to more volatile (continued on page eleven) www.dealmakers.net
Food Retailers Expand Nationwide Schakolad Chocolate Factory operates 32 locations throughout CT, FL, GA, IN, MI, OH, TN, TX, VA and Washington, DC, as well as internationally. The shops, offering European-style hand-made chocolates, occupy spaces of 1,200 sq.ft. to 1,600 sq.ft. in urban/downtown areas and entertainment, lifestyle, specialty and tourist centers. Growth opportunities are sought throughout the eastern U.S. during the coming 18 months. Typical leases run five years with a five-year option. A vanilla shell is required. Preferred cotenants include Starbucks, The Cheesecake Factory, Marble Slab Creamery and steak houses. Major competitors include Godiva. Preferred demographics include a population of 50,000 within five miles earning $50,000 as the average household income. The company is franchising and will also consider sites throughout the western U.S. For more information, contact Edgar Schaked, Schakolad Chocolate Factory, 5966 Lakehurst Drive, Orlando, FL 32819; 407-248-6400, Fax 407-248-1466; Email: franchise@schakolad.com; Web site: www.schakolad.com. Treats International Franchise Corp. trades as Treats International at 91 locations throughout FL and Canada. The shops, offering gourmet coffee, bagels, cookies, cakes, soups, salads and wraps, occupy spaces of 200 sq.ft. to 2,500 sq.ft. in freestanding locations, malls, urban/downtown areas and mixed-use centers. Growth opportunities are sought throughout Canada during the coming 18 months. For more information, contact Ryan Gibson, Treats International Franchise Corp., 201-1550A LaPerriere Avenue, Ottawa, Ontario, Canada K1Z 7T2; 613563-4073, Fax 613-563-1982; Web site: www.treats.com. Rocky Mountain Chocolate Factory, Inc. trades as Rocky Mountain Chocolate Factory at 356 locations nationwide and internationally. The shops, offering chocolate, candy and nuts, occupy spaces of 600 sq.ft. to 1,000 sq.ft. in malls and entertainment, mixed-use, outlet, specialty and tourist centers. Growth opportunities are sought nationwide during the coming 18 months. Typical leases run five years. A vanilla shell and specific improvements are required. Major competitors include Godiva. The company is franchising. For more information, contact Dave Richie or Kraig Carlson, Rocky Mountain Chocolate Factory, Inc., 265 Turner Drive, Durango, CO 81303; 970-259-0554, Fax 970-2595895; Web site: www.sweetfranchise.com.
Potbelly Sandwich Works, LLC trades as Potbelly Sandwich Works at 230 locations throughout IL, IN, MI, MN, OH; Philadelphia, PA; TX, WI and the Washington, DC metropolitan area. The fast-casual restaurants occupy spaces of 2,000 sq.ft. in freestanding locations, urban/downtown areas, suburban areas and endcaps and inline spaces of shopping centers. Plans call for more than 20 openings throughout the existing markets, excluding IN, along with Phoenix, AZ; San Jose, CA; the Boston, MA and New York, NY metropolitan areas, and Seattle, WA. Preferred cotenants include movie theaters, high-end retailers and grocery stores. Preferred demographics include a population of 25,000 within one mile. The company prefers sites with outdoor patio seating and will also consider food court locations of 600 sq.ft. to 1,000 sq.ft. For more information, contact Tiffany Lebo, Potbelly Sandwich Works, LLC, 222 Merchandise Mart Plaza, Suite 2300, Chicago, IL 60654; 312-951-0600, Fax 312951-0300; Email: tiffany.lebo@potbelly.com; Web site: www.potbelly.com. Hooters of America, Inc. trades as Hooters Restaurants at 455 locations nationwide throughout 44 states and internationally. The restaurants occupy spaces of 5,000 sq.ft. in freestanding locations and endcaps of entertainment and strip centers. Growth opportunities are sought throughout NC and SC during the coming 18 months, with representation by EnRich Commercial. Typical leases run 10 to 15 years. Preferred demographics include a population of 100,000 within five miles earning $45,000 as the average household income. A land area of 1.5 acres is required for freestanding locations. For more information, contact Steve Rich, EnRich Commercial, 1600 Camden Road, Charlotte, NC 28203; 704-887-4778, Fax 704-342-3453; Email: steve@enrichcommercial.com; Web site: www.enrichcommercial.com. Subway operates 33,599 locations nationwide and internationally. The sandwich shops occupy spaces of 1,200 sq.ft. to 2,000 sq.ft. in freestanding locations, malls and power and specialty centers. Growth opportunities are sought throughout upstate NY during the coming 18 months, with representation by Vanguard-Fine Retail Store Leasing, LLC. Typical leases run 10 years. A vanilla shell is required. Preferred cotenants include supermarkets, Walmart Supercenter, pharmacies and home improvement retailers. Major competitors include Blimpie and Quiznos. Preferred demographics include a www.dealmakers.net
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population of 7,000 within five miles. The company is franchising. For more information, contact Barry Feinman, Vanguard-Fine Retail Store Leasing, LLC, 2050 Western Avenue, Suite 201, Guilderland, NY 12084; 518-8620861 Ext. 202, Fax 518-867-3082; Email: kbrownell@vanguardfine.com; Web site: www.vanguardfine.com. Penn Station, Inc. trades as Penn Station East Coast Subs at 220 locations throughout IL, IN, KY, MI, MO, NC, OH, PA, SC, TN, VA and WV. The sandwich shops occupy spaces of 1,500 sq.ft. to 1,800 sq.ft. in power and strip centers. Plans call for 30 openings throughout the existing markets, as well as AL, AR, GA, IA, KS and WI, during the coming 18 months. Typical leases run five years with options. Preferred cotenants include Target, Kohl’s and grocery stores. Major competitors include other sandwich shops. Preferred demographics include a population of 65,000 within three miles earning $50,000 as the average household income. The company is franchising. For more information, contact Mark Partusch, Penn Station, Inc., 1226 U.S. Highway 50, Milford, OH 45150; 513-474-5957, Fax 513-474-7116; Email: realestate@penn-station.com; Web site: www.penn-station.com. Jack in the Box, Inc. trades as Jack in the Box at 2,200 locations throughout AZ, CA, CO, HI, ID, IL, LA, MO, NC, NM, NV, OK, OR, SC, TN, TX, UT and WA. The fast food restaurants occupy spaces of 2,000 sq.ft. to 2,700 sq.ft. in freestanding locations. Growth opportunities are sought throughout the existing markets during the coming 18 months. A drive-thru and a land area over 30,000 sq.ft. are required. The company will also consider locations cobranded with major oil companies and convenience store chains, and is looking to enter new markets contiguous to its existing areas of operation. For more information, contact Charlie Watson, Jack in the Box, Inc., 9330 Balboa Avenue, San Diego, CA 92123; 858571-2121, Fax 858-694-1543; Web site: D www.jackinthebox.com. M
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Who’s Opening and Where Target Corp. (612-304-6073) is scouting locations for a Target store in Portland, OR. Potential locations include the Galleria Building, a 180,000 sq.ft., five-story building located at the intersection of Southwest Alder Street and 10th Avenue. The company also plans to open a 140,000 sq.ft. Target at the intersection of Interstate 85 and Cox Road in Gastonia, NC. The store will replace an existing, smaller store at Akers Center, and is slated to open next year. The company also plans to open a 90,000 sq.ft. store in Seattle, WA during 2012. The opening will be the company’s first in a smaller prototype, with planned sizes ranging from 60,000 sq.ft. to 100,000 sq.ft. The company plans to open smaller-format stores in San Francisco, CA and Baltimore, MD as well as in eight other markets nationwide. The smaller stores will include a variety of merchandise with a focus on daily essentials. Gordon Food Service (800-968-6525) plans to open a Gordon Foods Marketplace situated on 1.4 acres at Cedar Center North, situated on 12 acres along Cedar Road near Warrensville Center Road in South Euclid, OH. The store will be the company’s ninth in the area and is slated to open next fall.
Nordstrom, Inc. (206-628-2111) will open a 35,000 sq.ft. Nordstrom Rack at Stephanie Street Power Center, located in Henderson, NV. The store will replace an existing, smaller location at Silverado Ranch Plaza in Henderson. The store is slated to open next fall and will join Barnes & Noble, OfficeMax, Pier 1 Imports, Michaels and Total Wine & More. The company also plans to open 17 locations during 2011, 14 of which will be Nordstrom Rack stores. The company currently operates 200 locations nationwide throughout 28 states, including 115 Nordstrom stores, 82 Nordstrom Rack locations, two Jeffrey stores and one clearance center. Goodwill Industries of the Columbia Willamette (503-238-6100) will open a 21,000 sq.ft. Goodwill Industries location off Highway 5 in Wilsonville, OR. The store will also feature a job office dedicated to helping residents find work in the area. The Parker Cos. (912-231-1001) will open a Parker’s convenience store at the intersection of DeRenne Avenue and Skidaway Road in Chatham County, GA. The store will feature gasoline facilities and is slated to open during the winter.
Tropical Smoothie Café (888-292-2522), through a franchisee, will open a 2,000 sq.ft. quick-serve restaurant in a former Stocks Men’s Clothier at The Oakwood Building, located along Far Hills Avenue in Oakwood, OH. The store is slated to open during January. The company currently operates 250 franchise locations, offering fruit smoothies, breakfast wraps, sandwiches and salads, nationwide, including seven in OH. Anna’s Linens, Inc. (714-460-2802) plans to open 40 Anna’s Linens stores nationwide next year, including entries into new markets. Golden Corral Corp. (919-781-9310), through a franchisee, will open a Golden Corral restaurant at the intersection of Randall Road and Main Street in Batavia, IL. Pet Food Express (510-346-7777) will open a 5,500 sq.ft. store in a former Hollywood Video site at Laurel Village, located along California Street in San Francisco, CA. The store is slated to open during the first quarter of next year. The company currently operates 35 locations throughout the Bay Area of CA, including two in San Francisco.
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Real Estate Professionals Making the News CB Richard Ellis (212-984-8180) hired Nina Kampler as senior managing director. She will be responsible for overseeing retail real estate in and around New York, NY and throughout other metropolitan areas nationwide. Prior to joining the company, she served as executive vice president at Hilco Real Estate, LLC. Seldin Co. (402-934-6139) hired Kevin T. Rhodes as senior vice president, commercial real estate services. He will be responsible for sales, leasing and management of retail and office properties for the company’s commercial real estate division. Prior to joining the company, Rhodes served as associate broker with Perry Reid Properties, and as director of real estate for Cabela’s. The company is a full-service real estate asset management company specializing in commercial and multifamily real estate brokerage, development and management. BND Commercial (260-407-0900) acquired Goldstine Knapke, which will now operate as BND Commercial. The company offers tenant and landlord representation, property and facility management, consulting and market research services, asset and appraisal services, commercial and residential development and brokerage services for retail, industrial, office, medical and multi-family properties throughout northeastern IN. Colliers International|Greater Cincinnati (513-721-4200) hired Ken Arbino as brokerage vice president. Prior to joining the company, Arbino served at Core Resources, Inc. and Miller-Valentine Group. The company offers site selection services, owner and tenant representation, consulting, market analysis and demographic studies. Aztec Group, Inc. (305-938-8633) hired Kevin Miliffe as director. He will be responsible for originating, underwriting, financing and investment opportunities for the company. Prior to joining the company, he served as an investment analyst at Ironshore Capital, LLC. The company specializes in facilitating acquisition, disposition and financing of real estate for institutional investors and commercial developers. Coremark Group, LLC (201-847-2600) was recently formed by Edward Jaten, Laurence J. Liebowitz and P. Thomas Tourso. The company is a real estate development and acquisition firm specializing in single-tenant properties and small shopping centers. The company also plans to handle mixed-use properties and non-retail assets. DM
Lease Signings Centro Properties (212-869-3000) negotiated the following leases with Toys “R” Us Express: at Mira Mesa Mall, located along Camino Ruiz in San Diego, CA; at Vallejo Corners, located along Admiral Callaghan Way in Vallejo, CA; at Groton Square, located along Route 12 in Groton, CT; at Christmas Tree Plaza, located along Indian River Road in Orange, CT; at Pointe Orlando, located along International Drive in Orlando, FL; at Commons of Chicago Ridge, located along Commons Drive in Chicago Ridge, IL; at Westview Center, located along North Barrington Road in Hanover Park, IL; at Apple Glen Crossing, located along Apple Glen Boulevard in Ft. Wayne, IN; at Hampton Village Centre, located along South Rochester Road in Rochester Hills, MI; at Independence Mall, located along Oleander Drive in Wilmington, NC; at Marlton Crossing, located along South Route 73 in Marlton, NJ; at Midway Mall, located in Elyria, OH; at Richland Mall, located in Mansfield, OH, and at Roosevelt Mall, located along Cottman Avenue in Philadelphia, PA. Mid-America Real Estate – Wisconsin, LLC (414-273-4600) negotiated the following leases throughout WI: with Knockouts for 1,200 sq.ft. at One Mayfair Place, located along North Mayfair Road in Wauwatosa; with Verizon Wireless for 1,654 sq.ft. at Delavan Crossings III, located along East Geneva Street in Delavan; with 9Round for 1,663 sq.ft. at The Brownstones, located along West Bluemound Road in Brookfield; with Men’s Hair House for 2,250 sq.ft. at South Town Shopping Center, located along South 108th Street in West Allis, and with PNC Bank for 3,898 sq.ft. along North Oakland Avenue in Shorewood. Grosvenor Americas (415-434-0175) negotiated a lease with Topshop for a fourlevel 50,000 sq.ft. space at Magnificent Mile, a 126,000 sq.ft. property located at the intersection of North Michigan Avenue and Pearson Street in Chicago, IL. Cotenants at the building include Columbia Sportswear, Filene’s Basement, Borders and Ghirardelli Chocolates. Northwest Atlantic Real Estate Services, LLC (914-328-2222) negotiated a lease with Capital One for 6,000 sq.ft. at Smith Haven Plaza in Lake Grove, NY. Prudential Douglas Elliman Real Estate (212-891-7000) negotiated a lease with Tui Pranich for a 7,500 sq.ft. multi-level space along Greene Street in the SoHo area of New York, NY. www.dealmakers.net
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Crosland, LLC (704-529-1166) negotiated the following leases at Richmond Centre, a mixed-use center situated on 120 acres in Richmond, KY: with Great Clips for 1,132 sq.ft.; with Subway for 1,199 sq.ft.; with Sprint for 1,490 sq.ft.; with Fusion Tanning Studios for 2,062 sq.ft.; with The Children’s Place for 4,020 sq.ft.; with PetSmart for 15,304 sq.ft.; with Meijer for 207,483 sq.ft., and with Forcht Bank for a land area of 1.75 acres. The center is anchored by Belk, JCPenney, Cinemark Theatre and Meijer. L3 Corp. (314-469-7400) negotiated the following leases: with Cellular Connection for 3,200 sq.ft. along East Ashley Road in Booneville, MO and for 5,040 sq.ft. along 18th Avenue in Rock Island, IL; with Rainbow Apparel for 7,980 sq.ft. at Lindell Marketplace in St. Louis, MO; with The Tile Shop for 17,500 sq.ft. at The Shoppes at Sunset Hills in Sunset Hills, MO, and with PetSmart for 17,395 sq.ft. at The Shoppes at Stadium in Columbia, MO; for 23,988 sq.ft. at Irving Market Center in Irving, TX, and for 27,520 sq.ft. at Lewisville Town Crossing in Carrollton, TX. Regency Centers (610-747-1200) negotiated a lease with Sprint for space at Newtown Square, located along West Chester Pike in Newtown Square, PA. Stonemar Properties, LLC (212-324-8300) negotiated a lease expansion with Burgers & Blues for 5,668 sq.ft. at Centre Park Shopping Center, a 45,000 sq.ft. center located along County Line Road in Jackson, MS. Planned Community Developers, Ltd. (281242-2000) negotiated a lease with Designs in Gems for 1,198 sq.ft. at Sugar Land Town Square, located along City Walk in Sugar Land, TX. Signature Associates (248-948-9000) negotiated leases with Lady Jane’s Haircuts for Men for 1,440 sq.ft. along West Twelve Mile Road in Madison Heights, MI and for 1,530 sq.ft. along Union Road in Cheektowaga, NY. The company also negotiated a lease with Snap Fitness for 5,890 sq.ft. along South Waverly Highway in Lansing, MI. DM
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Who’s Opening and Where (continued from page eight)
CVS Caremark Corp. (877-265-7325) plans to open three CVS pharmacies throughout the Washington, DC metropolitan area. The company currently operates 7,109 locations nationwide, including 260 within the Washington, DC area. Wal-Mart Stores, Inc. (479-273-4000) plans to enter urban markets with smaller-format stores. The company has been scouting locations of about 20,000 sq.ft. in San Francisco, CA; New York, NY and other metropolitan markets nationwide. The company currently operates 4,000 locations nationwide.
Dick’s Sporting Goods, Inc. (724-273-3400) will open a 55,000 sq.ft. Dick’s Sporting Goods store in a former Fortunoff at a center located along Bloomingdale Road in White Plains, NY. The store is slated to open during April and will join Whole Foods Market, Morton’s The Steakhouse and The Cheesecake Factory at the center. Cumberland Farms, Inc. (508-270-1400) plans to open a 24-hour Cumberland Farms convenience store at the intersection of County Street and Wall Street in Attleboro, MA. The store will also feature gasoline facilities.
xas Te 3 C 2 S IC th 1 the Boo t a ce! us sit ren Vi onfe C
inteRsection of GilmeR Road and W loop 281 1,000 SF TO 53,000 SF AVAILABLE | PAD SITES 1–4.5 ACRES demographics (15 min drive) Population 89,102 Households 35,518 Avg HH Income $54,492 Employees 54,002 Establishments 4,913
traffic co of 52,9 unt 64 cpd.
Susan Mazarakes-Gill, CEcD 903-753-7878 | 800-952-2613 | Fax: 903-753-3646 www.longviewusa.com page 10
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RestauRants and RetaileRs in the immediate aRea AutoZone Big Lots Catfish Village Chick-fil-A Church’s Chicken CVS Dollar General Dollar Tree GameStop Mazzio’s McDonald’s Moe’s Southwest Grill O’Reilly’s Pizza Hut Popeye’s Chicken Quiznos RadioShack Ross Dress for Less Sonic Drive-In Subway Taco Bell Walgreens Walmart Supercenter Wendy’s Whataburger www.dealmakers.net
DFW Furniture (866-514-7665) plans to open a 20,000 sq.ft. furniture store in part of a former Value City Furniture located along Hebron Road in Heath, OH. The store is slated to open during the middle of next month and will be the company’s 13th location, including eight in OH, three in PA and two in WV. The company also plans to open between five and seven locations next year. Fairway Group Holdings Corp. (646-6168000) will open a 45,000 sq.ft. Fairway Market in a former Barnes & Noble located along East 86th Street between Second Avenue and Third Avenue in the Upper East Side area of New York, NY, as part of a plan to double the company’s store count to 12 during the next several years. The store is slated to open early next year. The company also plans to open a location in Queens, NY next year. dressbarn, Inc. (218-727-8431) will open a 5,000 sq.ft. Maurices at the intersection of Highway 65 and Richmond Way in New Richmond, WI. The store is slated to open during the first half of next year. The company currently operates 750 Maurices locations nationwide throughout 44 states. TBC Corp. (561-383-3100) will open National Tire & Battery locations throughout the Twin Cities area of MN. The company currently operates 15 locations throughout the state, including stores in St. Paul, West St. Paul, Eagan, Champlin, Oakdale, Blaine, Savage, Shakopee, Chaska, Lakeville, Elk River, Northfield, Red Wing, Baxter and St. Cloud. Donatos (614-416-7700), through franchisees, plans to double its restaurant count during the coming 10 years, opening over 250 franchised locations within that period. Planned openings include 10 restaurants throughout Cincinnati, OH and Indianapolis, IN during the coming six years. The company currently operates 179 restaurants throughout six states nationwide, including 114 franchised locations. Rocky Mountain Chocolate Factory, Inc. (970-259-0554), through its subsidiary Aspen Leaf Yogurt, Inc., has launched Aspen Leaf Yogurt, a new self-serve yogurt franchise concept. The company plans to open at least four franchises by the end of this fiscal year. The stores will also offer Rocky Mountain Chocolate Factory products. The company currently operates 352 franchised Rocky Mountain Chocolate Factory locations nationwide throughout 37 states, as well as Canada and the United Arab Emirates. DM
Exclusives and Leasing Assignments Fairfield Retail Partners (203-870-8200) represents the following retailers with their expansion plans: Chipotle Mexican Grill, throughout select markets in CT and Westchester County, NY, seeking spaces of 2,000 sq.ft. to 2,600 sq.ft. in freestanding locations and pad sites and endcaps of shopping centers; Conway, throughout CT, seeking spaces of 25,000 sq.ft. in malls and community and regional shopping centers anchored by grocery stores and fashion retailers; Starbucks, throughout CT, NJ and the Hudson Valley area of NY, utilizing spaces of 1,800 sq.ft. in freestanding locations and endcaps of lifestyle centers with a drive-thru; Lakeshore Learning Materials, throughout CT and the Hudson Valley area of New York, NY, seeking spaces of 7,000 sq.ft. to 8,000 sq.ft. in freestanding locations and endcaps of shopping centers; Chip’s Family Restaurant, throughout CT, seeking sites of 4,000 sq.ft. to 5,000 sq.ft. in freestanding, secondgeneration restaurant spaces; Applebee’s, throughout CT, utilizing spaces of 5,200 sq.ft. in freestanding locations and pad sites and endcaps of power centers; Leslie’s Pool Supplies, throughout CT, seeking sites of 2,500 sq.ft. to 3,500 sq.ft. in endcaps and
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inline spaces of shopping centers; Borders, throughout CT, seeking sites of 23,000 sq.ft. in power centers and downtown areas, and Clarks, throughout Fairfield County, CT and Westchester County, NY, seeking spaces of 2,500 sq.ft. in suburban street fronts and lifestyle centers. Retail Net Lease Properties, Inc (310-2527656) represents Rolling Rice Japanese Restaurant with the chain’s expansion throughout Los Angeles, Orange and Riverside counties in CA. The company is seeking spaces of 1,400 sq.ft. to 1,800 sq.ft. in grocery- and drug store-anchored shopping and mixed-use centers. Preferred demographics include a population of 30,000 within three miles earning $60,000 as the median household income. The company is focusing on locations in Fullerton, Brea, Pasadena, Burbank, Long Beach, Cerritos, Lakewood, Cypress, Costa Mesa, western Los Angeles and Torrance, CA. The Lansco Corp. (212-644-2222) represents Teaspoon with the chain’s expansion throughout New York, NY. The quick-service restaurants are seeking spaces of 1,500 sq.ft. to 2,000 sq.ft. in high-traffic areas. DM
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vehicles, and these centers are always attractive from a retail investment standpoint,” Jaggi said. Development has generally come to a halt over the past three years, so demand for existing retail properties has increased, keeping Cap rates at lower levels, Jaggi explained. “Though [they’re] not at the low levels seen in 2006 to 2007, we are still seeing well-tenanted centers with national credit retailers demanding Cap rates in the low 6%.” Heading into the new year, Jaggi described himself as “cautiously optimistic” about the state of retail real estate in Texas. Retailers are under pressure to grow, and will focus on markets with strong fundamentals – job growth, income growth, and a healthy economy – in order to do so. “[These factors] will all have a say in where retailers focus their energies,” he said. “Houston – and Texas – are poised to be top-priority for many of these retailers in 2011.” For more information, contact Naveen Jaggi, CB Richard Ellis – Houston, 2800 Post Oak Boulevard, Suite 2300, Houston, TX 77056; 713.577.1654, Fax 713.577.1677; Email: naveen.jaggi@cbre.com; Web site: D M www.cbre.com.
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November 19, 2010
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Supermarket Chains Expand Nationwide (continued from page one)
Winco Foods, LLC trades as Winco Foods at 76 locations throughout CA, ID, NV, OR, UT and WA. The grocery stores occupy spaces of 90,000 sq.ft. to 100,000 sq.ft. in freestanding locations and power and value centers. Growth opportunities are sought throughout the existing markets during the coming 18 months. Preferred demographics include a population of 100,000 within five miles. A land area of nine acres is required for freestanding locations. The company prefers to acquire sites. For more information, contact Morgan Randis, Winco Foods, LLC, PO Box 5756, Boise, ID 83705; 208-672-2072, Fax 208377-0474; Email: morganr@wincofoods. com; Web site: www.wincofoods.com. Lund Food Holdings, Inc. trades as Byerly’s and Lunds at 21 locations throughout MN. Lunds occupies spaces of 40,000 sq.ft. and Byerly’s occupies spaces of 70,000 sq.ft. in freestanding locations, strip centers and urban/ downtown areas. Growth opportunities are sought throughout the existing market during the coming 18 months. Typical leases run 20 years with options. For more information, contact Jenifer Kent, Lund Food Holdings, Inc., 4100 West 50th Street, Suite 2100, Edina, MN 55424; 952-915-2696, Fax 952-915-2675; Email: jenifer.kent@lfhi.com. Glass Garden, Inc. trades as Shop Rite Supermarkets at nine locations throughout NJ and NY. The supermarkets occupy spaces of 73,000 sq.ft. in freestanding locations and lifestyle, power, specialty and strip centers. Plans call for two openings in CT, NJ, NY or PA during the coming 18 months. Typical leases run 20 years with options. A land area of at least nine acres is required for freestanding locations. For more information, contact Ben Focarino, Glass Garden, Inc., 204 Passaic Street, Rochelle Park, NJ 07662-3118; 201843-1364; Email: benfocarino@verizon.net. Magruders, Inc. trades as Magruders at eight locations throughout MD, VA and Washington, DC. The supermarkets occupy spaces of 25,000 sq.ft. to 32,000 sq.ft. in strip centers. Growth opportunities are sought throughout the existing markets during the coming 18 months. For more information, contact Steven Fanaroff, Magruders, Inc., 981 Rollins Avenue, Rockville, MD 20850; 301-2303000 Ext. 306, Fax 301-230-3023; Web site: D M www.magruders.com.
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Lead Sheet Advance Auto Barry Feinman c/o Vanguard-Fine Retail Store Leasing, LLC 2050 Western Avenue, Suite 201 Guilderland, NY 12084 518-862-0861 Ext. 202, Fax 518-867-3082 Web site: www.vanguardfine.com
Automotive The 3,500-unit chain operates locations nationwide. The automotive parts stores occupy spaces of 7,000 sq.ft. in freestanding locations and strip centers. Growth opportunities are sought throughout western MA, upstate NY and VT during the coming 18 months, with representation by Vanguard-Fine Retail Store Leasing, LLC. Typical leases run 10 to 15 years. Preferred cotenants include supermarkets. Preferred demographics include a population of 25,000 within five miles earning $40,000 as the average household income. Major competitors include AutoZone.
Cassidy Tire & Service Rick Ahern 200 South Church Street Addison, IL 60101 630-620-2300
Automotive The 15-unit chain operates locations throughout IL. The automotive service centers occupy spaces of 15,000 sq.ft. in freestanding locations. Growth opportunities are sought throughout the existing market during the coming 18 months.
Colonial Group dba Enmark Dwight Harrison 2112 Rankin Street Savannah, GA 31415 912-236-1331, Fax 912-235-3868 Email: dharrison@enmark1.com
Convenience The 54-unit chain operates locations throughout GA and NC. The convenience stores, with gasoline facilities, occupy spaces of 2,900 sq.ft. to 3,200 sq.ft. in freestanding locations. Growth opportunities are sought throughout southern GA and Ashville and the surrounding counties in NC, excluding Charlotte, during the coming 18 months.
CN Brown Co. dba Big Apple Food Stores Russell Cloutier PO Box 200 South Paris, ME 04281 207-743-9212, Fax 207-743-8357 Web site: www.cnbrown.com
Convenience The 90-unit chain operates locations throughout ME, NH and VT. The convenience stores, with gasoline facilities, occupy spaces of 2,000 sq.ft. to 3,000 sq.ft. in freestanding locations. Growth opportunities are sought throughout ME and NH during the coming 18 months. A land area of 0.5 to three acres is required.
Evans Oil Co. dba Chevron Brad Lemoine PO Box 432 Monroe, LA 71210 318-343-3942, Fax 318-343-8406
Convenience The 40-unit chain operates locations throughout LA. The convenience stores, with gasoline facilities, occupy spaces of 2,800 sq.ft. to 3,000 sq.ft. in freestanding locations. Growth opportunities are sought throughout the existing market during the coming 18 months.
HJB Convenience Corp. dba Russell’s Convenience Stores Ray Huff 8585 West 14th Avenue Lakewood, CO 80215 720-881-5900, Fax 303-293-0012 Web site: www.russellsconvenience.com
Convenience The 14-unit chain operates locations throughout CA, CO and HI. The convenience stores occupy spaces of 900 sq.ft. to 3,000 sq.ft. in urban/downtown areas. Growth opportunities are sought throughout the existing markets during the coming 18 months. Typical leases run 10 years. A vanilla shell is required. Preferred demographics include a population of 4,000 within one mile earning $37,000 as the average household income.
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Lead Sheet B & B Department Stores North Jeff Davidson 1975 Swarthmore Avenue Lakewood, NJ 08701 732-901-1562, Fax 732-901-8710
Department Store The three-unit chain operates locations along the NJ coast. The department stores occupy spaces of 7,000 sq.ft. to 13,000 sq.ft. in freestanding locations and downtown areas. Growth opportunities are sought throughout Monmouth and Ocean counties in NJ during the coming 18 months. Typical leases run two to five years. The company prefers to locate in beach communities.
Dollar Castle, Inc. dba Dollar Castle Eddie Denha 7031 Orchard Lake Road, Suite 201A West Bloomfield, MI 48322 248-539-3100, Fax 248-539-1778 Email: eddie@dollarcastle.com Web site: www.dollarcastle.com
Discount The 25-unit chain operates locations throughout MI. The discount stores occupy spaces of 6,000 sq.ft. to 12,000 sq.ft. in power and strip centers. Growth opportunities are sought within 100 miles of Detroit, MI during the coming 18 months. Typical leases run five years with five-year options. A vanilla shell and specific improvements are required. The company is franchising.
T & E Stores, Inc. dba Telco Stores Ted Serure 6014 11th Avenue Brooklyn, NY 11219 718-853-5050, Fax 718-853-4019 Email: teddy@telcostores.com
Discount The eight-unit chain operates locations throughout NY. The stores, offering discount apparel, housewares and linens, occupy spaces of 7,000 sq.ft. to 15,000 sq.ft. in strip and value centers, as well as urban/downtown areas. Plans call for two openings in NJ and NY during the coming 18 months. Typical leases run 15 years. Major competitors include Conway and Shoppers World.
Family Pharmacy, Inc. dba Family Pharmacy Mr. Lynn Morris 1114 West Jackson Street / PO Box 949 Ozark, MO 65721 417-581-4335, Fax 417-581-5660 Email: lynn@thefamilyrx.com
Drug Store The 26-unit chain operates locations throughout MO. The drug stores occupy spaces of 2,500 sq.ft. to 4,000 sq.ft. in freestanding locations and strip centers. Growth opportunities are sought throughout southwestern MO during the coming 18 months. Typical leases run five years with options.
Liberty Drug, Inc. dba Jerry’s Pharmacy, Liberty Drug, Medicine Shoppe and More Than Medicine Brian Harrison PO Box 362 Carnegie, OK 73015 580-654-1111, Fax 580-654-1229
Drug Store The five-unit chain operates locations throughout OK. The drug stores occupy spaces of up to 5,000 sq.ft. in strip and value centers, as well as downtown areas. Growth opportunities are sought throughout the existing market during the coming 18 months.
The Superior Cleaners & Tailors Jeff Kintzer c/o Royal Properties, Inc. 850 Bronx River Road Bronxville, NY 10708 914-237-3403, Fax 914-237-0196 Email: jeff@royalpropertiesinc.com Web site: www.royalpropertiesinc.com
Dry Cleaners The three-unit chain operates locations throughout MA. The dry cleaners occupy spaces of 1,400 sq.ft. to 1,800 sq.ft. in power and strip centers. Growth opportunities are sought throughout CT during the coming 18 months, with representation by Royal Properties, Inc.
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Lead Sheet AT&T Mobility Christine Marr c/o CB Richard Ellis 2238 Port Carlisle Place Newport Beach, CA 92660 949-706-7372, Fax 949-706-7381 Email: cm6802@att.com Web site: www.wireless.att.com
Electronics The company operates locations nationwide. The stores, offering wireless phones, cable and Internet services, occupy spaces of 3,200 sq.ft. in freestanding locations and endcaps, pad sites, inline spaces and kiosks in malls. Growth opportunities are sought throughout AK, AZ, CA, CO, HI, ID, MT, NM, NV, UT; Seattle, WA and WY during the coming 18 months, with representation by CB Richard Ellis.
Automotive Technologies, Inc. dba Wireless Zone Anthony Giannone 34 Industrial Park Place Middletown, CT 06457 860-930-6604 Email: anthonyg@wirelesszone.com Web site: www.wirelesszone.com
Electronics The 427-unit chain operates locations throughout CT, DE, FL, GA, IA, IL, IN, KY, LA, MA, MD, ME, MI, MN, MO, NH, NJ, NY, OH, PA, RI, TX, VA, VT, WI and Washington, DC. The stores, offering cell phones, services and related accessories, occupy spaces of 1,000 sq.ft. to 2,000 sq.ft. in freestanding locations, malls and power and strip centers. Growth opportunities are sought throughout New England and New York, NY and the surrounding boroughs during the coming 18 months. Typical leases run seven years with options. A vanilla shell is required. Preferred cotenants include supermarkets. Major competitors include Metro PCS, Sprint and T-Mobile. The company is franchising.
Bang & Olufsen America, Inc. dba Bang & Olufsen Chip Clinger 780 West Dundee Road Arlington Heights, IL 60004 847-590-4970, Fax 847-255-7805 Web site: www.bang-olufsen.com
Electronics The 52-unit chain operates locations nationwide and throughout Canada and Mexico. The stores, offering high-end electronics, occupy spaces of 1,500 sq.ft. in malls, specialty centers and urban/downtown areas. Plans call for five to eight openings nationwide and throughout Canada during the coming 18 months. Typical leases run 10 years with options.
Bose Corp. dba Bose Factory Outlet and Bose Showcase Store Catherine Olson The Mountain Framingham, MA 01701 508-879-7330 Web site: www.bose.com
Electronics The 135-unit chain operates locations nationwide. The stores, offering high-end audio products, occupy spaces of 2,200 sq.ft. and 3,000 sq.ft. in malls, outlet centers and downtown areas. Limited growth opportunities are sought throughout the existing market during the coming 18 months. Preferred cotenants include upscale home furnishings retailers. Preferred demographics include a population of one million within 25 miles earning $75,000 as the average household income.
Wachovia Bank Beth Lamport and Russ Lico c/o Breslin Realty Development Corp. 500 Old Country Road Garden City, NY 11530 516-741-7400, Fax 516-741-5621 Emails: blamport@breslinrealty.com and rlico@breslinrealty.com
Finance The 10,000-unit chain operates locations nationwide and internationally. The banks occupy spaces of 3,500 sq.ft. to 4,500 sq.ft. in freestanding locations and power and strip centers. Growth opportunities are sought throughout Long Island, NY during the coming 18 months, with representation by Breslin Realty Development Corp.
Fire & Ice, Inc. dba Fire & Ice Robert Levine 9578 Deereco Road Lutherville Timonium, MD 21093 Email: info@fireandice.com Web site: www.fireandice.com
Jewelry The 12-unit chain operates locations throughout MA, MD, PA, VA and Washington, DC. The jewelry stores occupy spaces of 800 sq.ft. to 1,000 sq.ft. in airports and regional shopping centers. Growth opportunities are sought throughout the existing markets, excluding VA, during the coming 18 months.
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Lead Sheet Gold Brick Jewelry, Ltd. dba Dales Jewelers, Gold Brick Jewelry and Lyon’s Jewelers Frank Farkas 10551 114th Street Edmonton, Alberta, Canada T5H 3J6 780-425-0245, Fax 780-425-8307
Jewelry The six-unit chain operates locations throughout Alberta and British Columbia, Canada. The jewelry stores occupy spaces of 700 sq.ft. to 1,400 sq.ft. in regional malls. Limited growth opportunities are sought throughout the existing markets during the coming 18 months.
Group Nine Associates dba Ecco Gary Hauss 6700 Fallbrook Avenue, Suite 150 West Hills, CA 91307 818-431-7967, Fax 818-884-7967
Shoes The four-unit chain operates locations throughout AZ and CA. The shoe stores occupy spaces of 1,200 sq.ft. to 1,500 sq.ft. in malls and lifestyle centers. Growth opportunities are sought throughout AZ, CA and Las Vegas, NV during the coming 18 months. Typical leases run 10 years. Specific improvements are required.
Pitt Self Service Stores, Ltd. dba Pitt Shoe Store Rhonda Avrith 1800 Nicolet Street Montreal, Quebec, Canada H1W 3K7 514-527-1383, Fax 514-527-5823
Shoes The 35-unit chain operates locations throughout Canada. The shoe stores occupy spaces of 3,000 sq.ft. to 4,000 sq.ft. in freestanding locations, malls and outlet and strip centers. Growth opportunities are sought throughout the existing market during the coming 18 months.
Shoe City Bob Pratt c/o R.L. Pratt and Associates 123 Washington Boulevard, Penthouse Suite Marina Del Rey, CA 90292 310-577-1414, Fax 310-577-1415 Email: bob@rlpratt.com Web site: www.rlpratt.com
Shoes The 45-unit chain operates locations throughout southern CA. The stores, offering brandname athletic footwear and sportswear, occupy spaces of 4,500 sq.ft. to 6,000 sq.ft. in freestanding locations and power and strip centers. Growth opportunities are sought throughout the existing market during the coming 18 months, with representation by R.L. Pratt and Associates. Typical leases run five years with two, five-year options. A vanilla shell and specific improvements are required. Preferred demographics include a population of 100,000 within three miles. Major competitors include Shoe Warehouse. The company will consider acquiring sites.
Calloway’s Nursery, Inc. dba Calloway’s Nursery John Cosby 4200 Airport Freeway, Suite 200 Ft. Worth, TX 76117 817-222-1122, Fax 817-222-1040 Email: jcosby@calloways.com Web site: www.calloways.com
Specialty The 18-unit chain operates locations throughout TX. The garden centers prefer to locate in freestanding locations situated on a land area of three acres. Limited growth opportunities are sought throughout the existing market during the coming 18 months. Specific improvements are required. Preferred demographics include a population of 10,000 within three miles earning $100,000 as the average household income.
The preceding leads have been verified by calls made to or written submittals from the respective retailers during the weeks prior to publication. Since the majority of chains featured in Lead Sheet are small in size, some changes in their expansion plans should be expected. To be included in an upcoming issue, just fax a note or call us with the details. Our fax number is (609-587-3511) and you can reach us by phone at (609-587-6200) or email at ann@dealmakers.net. page 16
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Goodyear – Cotton Flower Marketplace, a 114,478 sq.ft. center located at the intersection of Cotton Lane and Yuma Road, has spaces available from 1,200 sq.ft. to 15,000 sq.ft. along with pad sites. LA Fitness and Fresh & Easy Neighborhood Market anchor the center. Cotenants include CVS. Area retail includes SuperTarget, Ross Dress for Less, OfficeMax, PetSmart, Chase Bank and Jack in the Box. Area demographics include a population of 70,693 within five miles earning $88,660 as the average household income. Peoria – Fry’s Food & Drug Plaza, a 108,163 sq.ft. neighborhood shopping center located at the intersection of 75th Avenue and Cactus Road, has spaces available of 1,800 sq.ft.; 1,890 sq.ft. and 12,185 sq.ft. Fry’s Food & Drug anchors the center and cotenants include Wells Fargo Bank, Cost Cutters, Sally Beauty Supply, American General Finance, Shasta Swim & Save, Water N Ice, Bien Nails, Bubbles & Paws, Chen Wok, Soonyi’s Alterations, Jack in the Box, Hollywood Video and Jiffy Lube. Area demographics include a population of 347,342 within five miles earning $71,117 as the average household income. The average daily traffic count is 43,038 vehicles. Phoenix – Pecan Promenade, a 336,023 sq.ft. power center located at the intersection of 99th Avenue and Lower Buckeye Road, has space available. Target anchors the center and cotenants include Ross Dress for Less, Dollar Tree, Hi-Health, Jack in the Box, Starbucks, Taco Bell, Famous Footwear, Kirkland’s, Payless ShoeSource, Fashion Bug and Chase Bank. Area demographics include a population of 657,518 within 10 miles earning $65,216 as the average household income. For details, contact James Neal, Joe Doucett or Tim Gunnink, GDC/RE, Inc., 2929 East Camelback Road, Suite 113, Phoenix, AZ 85016; 602-368-3555 Ext. 102/105/104; Emails: james@gdcre.com, joe@gdcre.com and tim@gdcre.com; Web site: www.gdcre.com.
the median household income. The average daily traffic count is 190,456 vehicles. For details, contact Zachary Pace or Teale Hotchkiss, Phoenix Commercial Advisors, 3020 East Camelback Road, Suite 215, Phoenix, AZ 85016; 602-7347212 or 602-288-3476, Fax 602-9570889; Emails: zpace@pcaemail.com and thotchkiss@pcaemail.com; Web site: www.phoenixcommercialadvisors.com.
Avenue, has spaces available from 897 sq.ft. to 2,450 sq.ft. Walmart Supercenter anchors the center. The average daily traffic count is 20,087 vehicles. For details regarding the Lake Elsinore property, contact Andrew McLean or Mike Hanna, Lee & Associates, 25240 Hancock Avenue, Suite 100, Murrieta, CA 92562; 951-445-4521/4503; Emails: amclean@lee-associates.com and mhanna@lee-associates.com. For details regarding the Menifee property, contact Brian Bielatowicz, Ted Rivenbark or Jake Irion; 951-445-4515/4512/4519; Emails: bbielatowicz@lee-associates.com, trivenbark@lee-associates.com and jirion@lee-associates.com. For details regarding the San Jacinto property, contact Andrew McLean or Angie Aragon; 951-2763625; Email: aaragon@lee-associates.com.
Scottsdale – Sonora Village, a 248,310 sq.ft. center located at the intersection of Loop 101 and Frank Lloyd Wright Boulevard, has spaces available from 1,000 sq.ft. to 40,867 sq.ft. Staples, Golfsmith and Best Buy anchor the center. Cotenants include Chase Bank, Great Clips, Peter Piper Pizza, Aaron’s, Party City, Rubio’s Baja Grill, Traffic Jam Café, Wildflower Bread Co. and Hi-Health Supermarket. Area retail includes Ross Dress for Less, Albertsons, Target, T.J. Maxx, Walmart Supercenter and Home Depot. Area demographics include a population of 159,289 within five miles earning $97,253 as
California Calabasas – A center located at the intersection of Agoura Road and Las Virgenes Canyon has a 1,062 sq.ft. former Quiznos available. Area retail includes Albertsons, Starbucks, McDonald’s, Jack in the Box, GNC and Sharky’s Woodfired Mexican Grill. Area demographics include a population of 95,303 within five miles earning $143,279 as the average household income. The average daily traffic count is 33,000 vehicles. Woodland Hills – A mixed-use center located along Ventura Boulevard between Topanga Canyon Boulevard and Canoga Avenue has spaces available from 2,223 sq.ft. to 4,606 sq.ft. Area retail includes Ralph’s, Henry’s Market, Whole Foods Market, Rite Aid, Petco, Scottrade, Starbucks, Subway, Jerry’s Famous Deli and GNC. Area demographics include a population of 351,648 within five miles earning $93,369 as the average household income. For details regarding the Calabasas property, contact Todd Nathanson or Jeffrey Shore, illi Commercial Real Estate, 17547 Ventura Boulevard, Suite 304, Encino, CA 91316; 818-501-2212 Ext. 101/105, Fax 818-501-2202; Emails: todd@illicre.com and jeffrey@illicre.com; Web site: www.illicre.com. For details regarding the Woodland Hills property, contact Todd Nathanson or Greg Offsay; 818-501-2212 Ext. 104; Email: greg@illicre.com. Lake Elsinore – Mission Trail Shopping Center, located along Mission Trail, has spaces available from 900 sq.ft. to 6,116 sq.ft. along with a 4,002 sq.ft. pad site. Area retail includes Diamond Cinemas. Area draws include Trevi Entertainment Center and Lake Elsinore Storm Stadium. Menifee – Newport Towne Square, located at the intersection of Newport Road and Haun Road, has spaces available from 1,200 sq.ft. along with anchor spaces from 9,000 sq.ft. to 60,000 sq.ft. and a restaurant pad site available for ground lease or build-to-suit. San Jacinto – Mount San Jacinto Plaza, located at the intersection of San Jacinto Avenue and Commonwealth
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Florida Altamonte Springs – Ethan Allen Plaza, located at the intersection of Highway 436/ Semoran Boulevard and Westmonte Drive, has spaces available of 1,125 sq.ft.; 1,425 sq.ft.; 1,500 sq.ft.; 3,500 sq.ft. and 11,156 sq.ft. Cotenants include Ker’s Winghouse, B&K Bakery, Silvano’s Restaurant, Kohinoor Indian Restaurant, Sunshine Florist, First Watch Restaurant and T.G.I. Friday’s. Area demographics include a population of 217,000 within five miles earning $71,892 as the average household income. The average daily traffic count is 63,500 vehicles. Estero – The Brooks Town Center, an 80,000 sq.ft. neighborhood shopping center situated on 9.9 acres at the intersection of Coconut Road and Three Oaks Parkway, has spaces available of 1,156 sq.ft. and 7,500 sq.ft. along with two spaces of 1,840 sq.ft. and outlots of 6,000 sq.ft. and 6,500 sq.ft. Sweetbay Supermarket anchors the center and cotenants include Allstate Insurance, Goin Postal, VIP One Price Cleaners, Physicians Weight Loss Centers and Finemark Bank. Area demographics include a population of 64,564 within five miles earning $100,277 as the average household income. Naples – Magnolia Square, a 147,750 sq.ft. mixed-use center situated on 21 acres at the intersection of Pine Ridge Road and Goodlette Frank Road, has spaces available of 1,540 sq.ft.; 2,205 sq.ft. and 3,330 sq.ft. Sweetbay Supermarket anchors the center and cotenants include Fred Astaire Dance Studio, Aveda, Fashion Fresh Cleaners, Nail Spa, Hair Cuttery, Crispers and Starbucks. Area demographics include a population of 106,563 within (continued on page eighteen) November 19, 2010
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five miles earning $106,123 as the average household income. The average daily traffic count is 72,511 vehicles. For details, contact Courtelis Co., 703 Waterford Way, Suite 800, Miami, FL 33126; 305-261-4330, Fax 305-261-4338; Web site: www.courtelis.com. Cocoa – Cocoa Commons, located along State Road 524, has spaces available of 900 sq.ft. and 1,996 sq.ft. along with four spaces of 1,600 sq.ft. and two spaces of 2,400 sq.ft. Publix anchors the center and cotenants include Beef O’Brady’s, Subway, Chase Bank and Pinch-A-Penny. The asking rent is $20 psf for the 900 sq.ft. space and $18 psf for the remaining spaces with CAM of $5.50 psf. Stuart – Cornerstone at Stuart, located along Northwest Federal Highway/U.S. Highway 1, has spaces available of 1,195 sq.ft.; 1,355 sq.ft. and 2,400 sq.ft. along with five spaces of 1,200 sq.ft. Cotenants include Hard Exercise Works and Woof Gang Bakery. The asking rent is $15 psf with CAM of $2.75 psf. For details regarding the Cocoa property, contact Katherine Rush, Crossman & Co., 3333 South Orange Avenue, Orlando, FL 32806; 407-5816224; Email: krush@crossmanco.com; Web site: www.crossmanco.com. For
Florida
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details regarding the Stuart property, contact Ashley Thornburg; 305-726-8431; Email: athornburg@crossmanco.com.
Suite 210, Davie, FL 33328; 954-452-5000 Ext. 220; Email: info@ross-realty.com; Web site: www.ross-realty.com.
Palm Beach County – Palm Springs Plaza, a 230,000 sq.ft. power center located at the intersection of Congress Avenue and 10th Avenue North, has spaces available from 1,430 sq.ft. to 37,000 sq.ft. along with a 2.2-acre outlot. Cotenants include La Reina Supermarket, Aaron’s, Bennett Auto Supply, Dollar Tree, Medicap Pharmacy, Ross Dress for Less, Harbor Freight Tools, Rainbow, Pier 1 Imports and Eyeglass World. Area demographics include a population of 325,049 within five miles earning $60,193 as the average household income. The average daily traffic count is 87,000 vehicles. For details, contact Benjamin M. Brody or Elizabeth Thalman, Philips International, 419 West 49th Street, Suite 300, Hialeah, FL 33012; 305-755-3949/3939; Emails: bbrody@pihc.com and ethalman@pihc.com.
Illinois
Sunrise – Sawgrass Plaza, located along Sunrise Boulevard between Flamingo Road and Southwest 136th Street, has a 1,240 sq.ft. endcap available. Area retail includes Sawgrass Mills Mall. For details, contact Ross Realty Investments, 3325 South University Drive,
Berkeley – Berkeley Plaza, a 12,000 sq.ft. strip center located at the intersection of St. Charles Road and Taft Avenue, has a 1,250 sq.ft. space available. Area demographics include a population of 308,280 within five miles earning $80,874 as the average household income. The average daily traffic count is 25,100 vehicles. Berwyn – Windsor Building, a 25,000 sq.ft. mixed-use building located at the intersection of Windsor Avenue and Oak Park Avenue, has spaces available of 2,500 sq.ft. and 5,817 sq.ft. Area demographics include a population of 668,981 within five miles earning $66,343 as the average household income. Harvey – Southwest Shopping Center, a 75,000 sq.ft. center located along Dixie Highway, has a 5,000 sq.ft. space available. Cotenants include Dollar General, Murray’s, O’Reilly’s Auto Parts and Harvey Fresh. Area demographics include a population of 1.218 million within 10 miles earning $67,496 as the average household income. The average daily traffic count is 24,600 vehicles. The asking rent is $12 psf. (continued on page twenty)
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November 19, 2010
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AIL PRIME RET SPACE AVAILABLE
Total Population within: 1 miles – 41,439 3 miles – 193,427 5 miles – 552,064 Median Household Income: $52,131 Traffic Count: 33,210 vehicles per day
Spaces Available Unit 9 – 2,235 SF Unit 26 – 54,272 SF Unit 29 – 12,000 SF Unit 36 – 5,400 SF (freestanding) Unit 59 – 1,205 SF Unit 65 – 1,200 SF Unit 67 – 849 SF
304,000 SF GLA
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Itasca – Itasca Park Place, a 16,000 sq.ft. strip center located at the intersection of Route 53 and Irving Park Road, has spaces available of 1,000 sq.ft.; 2,000 sq.ft. and 8,000 sq.ft. Area demographics include a population of 225,358 within five miles earning $89,255 as the average household income. The average daily traffic count is 28,600 vehicles. Warrenville – Ferry Creek Plaza, a 15,000 sq.ft. strip center located at the intersection of Route 59 and Meadow Avenue, has spaces available of 1,360 sq.ft. and 8,128 sq.ft. Cotenants include Minuteman Press and Hometown Pantry. Area demographics include a population of 152,065 within five miles earning $109,310 as the average household income. The asking rent is $13 psf. For details regarding the Berkeley, Berwyn and Itasca properties, contact George Spirrison, Adelphia Properties, PO Box 4974, Oak Brook, IL 60522; 630-455-4495; Email: george@adelphiaproperties.com; Web site: www.adelphiaproperties.com. For details regarding the Harvey and Warrenville properties, contact Simeon Spirrison; Email: simeon@adelphiaproperties.com. Frankfort – Hickory Creek Marketplace, a 55,831 sq.ft. power center, has space available. Home Depot and Dominick’s anchor the center. Cotenants include LA Tan, Great Clips, Merle Norman and Pizza Hut. Area demographics include a population of 100,163 within five miles earning $104,836 as the average household income. The average daily traffic count is 34,800 vehicles. Homewood – Homewood Plaza, a 19,000 sq.ft. freestanding building, has space available. Area demographics include a population of 228,353 within five miles earning $65,515 as the average household income. The average daily traffic count is 35,200 vehicles. For details, contact Don Gill, Inland Real Estate Corp., 2901 Butterfield Road, Oak Brook, IL, 60523; 877-206-5656, Fax 630645-7259; Email: gill@inlandrealestate.com.
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Southaven – Elmore Commons, an 18,200 sq.ft. strip center located at the intersection of Church Road and Elmore Road, has spaces available of 1,225 sq.ft. and 3,115 sq.ft. CitiFinancial anchors the center and cotenants include State Farm Insurance, Southaven Vision Center, T&H Nails and TMG Home Concepts. Area retail includes Southaven Towne Centre. Area demographics include a population of 79,151 within five miles earning $62,319 as the average household income. The asking rent is $18 psf with CAM of $0.80 psf and taxes of $1.08 psf. For details, contact Bambi Fowler, Utley Properties, 6933 Crumpler Boulevard, Suite C, Olive Branch, MS 38654; 662895-0099, Fax 662-895-1817; Email: bambi@utleyproperties.com; Web site: www.utleyproperties.com.
Cotenants include Nails by Lee, Spectrum Doors & Windows and Domino’s Pizza. Area demographics include a population of 114,850 within five miles earning $130,691 as the average household income. The average daily traffic count is 48,000 vehicles. For details, contact Jason Pierson, CB Richard Ellis, Two Tower Center, 20th Floor, East Brunswick, NJ 08816; 732-509-8926; Email: jason.pierson@cbre.com; Web site: www.cbre.com.
Missouri Florissant – Florissant Square has space available. Walgreens anchors the center. For details, contact Nathan Tonnies, DLC Management Corp.; 877-701-1700; Email: ntonnies@dlcmgmt.com; Web site: www.dlcmgmt.com/midwest.
New Jersey
Michigan
Denville – The Shoppes at Union Hill, a 91,730 sq.ft. center situated on 18 acres along State Highway 10, has a 1,414 sq.ft. space available. Cotenants include Bensi, Pier 1 Imports, Five Guys Famous Burgers and Fries, Jos. A. Bank, J. Jill, Qdoba Mexican Grill, Janie & Jack, Maggie Moo’s, Starbucks, Aerosoles, AT&T Mobility, Learning Express, The Papery, Gap, Blue Mercury Spa, Chico’s, Banana Republic, The Children’s Place, Panera Bread, Fast Frame, Trade Secret, Talbots and Clarks. For details, contact Ray Brunt or Charles Cristella, Stanbery Development, LLC, 328 Civic Center Drive, Columbus, OH 43215; 614-437-8100, Fax 614-4378101; Emails: rbrunt@stanbery.com and ccristella@stanbery.com; Web site: www.stanbery.com.
Farmington – Drakeshire Shopping Plaza has space available. Farmington Hills – West River Centre has space available. Target anchors the center. Jackson – Merchants Crossing has space available. Kroger anchors the center. For details, contact Nathan Tonnies, DLC Management Corp.; 877-701-1700; Email: ntonnies@dlcmgmt.com; Web site: www.dlcmgmt.com/midwest.
Manalapan – Galleria Shopping Center, a 38,247 sq.ft. center located along Route 9, has spaces available of 1,650 sq.ft.; 1,848 sq.ft. and 2,651 sq.ft. along with endcaps of 1,978 sq.ft. and 8,578 sq.ft. Area demographics include a population of 115,306 within five miles earning $102,742 as the median household income. Marlboro – Pine Creek Square, located along Route 9 South, has spaces available of 2,000 sq.ft. and 3,335 sq.ft.
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November 19, 2010
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Dealmakers
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New York Bayshore – Market at Bayshore, located along Sunrise Highway, has spaces available of 2,400 sq.ft.; 6,500 sq.ft. and 20,965 sq.ft. The asking rent is $25 psf for the 2,400 sq.ft. and 6,500 sq.ft. spaces and $20 psf for the 20,965 sq.ft. space, with NNN fees of $7.57 psf. Bridgehampton – Bridgehampton Commons, located along Montauk Highway, has spaces available of 1,700 sq.ft. and 5,000 sq.ft. The asking rent is $32 psf for the 1,700 sq.ft. space and $30 psf for the 5,000 sq.ft. space, with NNN fees of $4.09 psf. Centereach – Centereach Mall, located along Middle Country Road, has spaces available of 2,150 sq.ft. and 3,800 sq.ft. The asking rent is $28 psf for the 2,150 sq.ft. space and $25 psf for the 3,800 sq.ft. space, with NNN fees of $7.43 psf. Also, Pathmark Shopping Center, located along Middle Country Road, has spaces available of 5,155 sq.ft. and 25,000 sq.ft. The asking rent is $20 psf for the 5,155 sq.ft. space with NNN fees of $8.24 psf. Central Islip – Central Islip Towne Center, located along Carlton Avenue, has a 1,500 sq.ft. space available. The asking rent is $30 psf with NNN fees of $12.08 psf. Commack – Birchwood Plaza Commack, located along Jericho Turnpike, has a 2,140 sq.ft. space available. The asking rent is $26 psf with NNN fees of $8.98 psf. Also, King Kullen Plaza, located along Sunken Meadow State Parkway, has spaces available of 2,900 sq.ft. and 54,125 sq.ft. The asking rent is $25 psf for the 2,900 sq.ft. space and $15 psf for the 54,125 sq.ft. space, with NNN fees of $7.51 psf. Glen Cove – North Shore Triangle, located along School Street, has a 2,100 sq.ft. space available. The asking rent is $25 psf with NNN fees of $12.32 psf. For details, contact Joshua Weinkranz, Tom Pira or Robert Wachtler, Kimco Realty, 3333 New Hyde Park Road, New Hyde Park, NY 11042; 516-869-7146/2516/2654; Emails: jweinkranz@kimcorealty.com, tpira@kimcorealty.com and rwachtler@kimcorealty.com. (continued on page twenty-two)
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(continued from page twenty)
Eden – Meadow Greens Shopping Center, a 70,800 sq.ft. strip center located at the intersection of South Van Buren Road and East Kings Highway, has spaces available of 4,800 sq.ft.; 22,000 sq.ft. and 44,000 sq.ft. Cotenants include Aaron’s, It’s Fashion, The Salvation Army, GNC, Great Clips and Kelly Rental. Area retail includes Walmart Supercenter. 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 Williamsport – T.J. Maxx Plaza, located between East 3rd Street and Interstate 180/ Route 220, has spaces available from 1,350 sq.ft. to 22,000 sq.ft. T.J. Maxx anchors the center and cotenants include Future Nails, The UPS Store, Crystal Vision, JoAnn Fabrics, H&R Block, Hairspray & Polish Salon, GNC, Community Check Cashing, Wells Fargo, Great Wall Chinese
Pennsylvania
Texas
Restaurant, Levinson’s Tuxedo and Tailoring, Fagnano Pools, Georgie Bagels, Sprint and FNB Bank. For details, contact Howard Dean, Dyco Management Corp., 150 White Plains Road, Suite 300, Tarrytown, NY 10591-5521; 914631-3000, Fax 914-631-0363; Web site: www.hdeanproperties.com.
Express available for sublease. H-E-B Plus, Cinemark Theatres, Bealls and Marshalls anchor the center. Area demographics include a population of 270,681 within five miles earning $84,197 as the average household income. The asking annual rent is $29.50 psf with NNN fees of $5.11 psf. For details, contact Rick Carduner, Carduner Commercial, 2161 Northwest Military Highway, Suite 402, San Antonio, TX 78213; 210-402-3500, Fax 210-402-3999; Email: rick@cardunercommercial.com.
Texas San Antonio – Hunter’s Creek Shopping Center, located along West Highway 46 in New Braunfels, TX, has a 1,500 sq.ft. space available. Area retail includes H-E-B. For details, contact Mike Ybarra or Cory Elrod, Legacy Commercial Real Estate, 396 North Seguin Avenue, New Braunfels, TX 78130; 830-625-6400, Fax 830-625-6403; Emails: mike@legacycommercialre.com and cory@legacycommercialre.com; Web site: www.legacycommercialre.com. San Antonio – McCreless Market, located at the intersection of Interstate 37 and Southcross, has a 3,544 sq.ft. IHOP
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San Marcos – The Village at Park South, located at the intersection of Wonder World Drive and Hunter Road, has spaces available from 1,250 sq.ft. to 4,000 sq.ft. Cotenants include Mochas & Javas, Edward Jones, Pioneer Bank and Subway. For details, contact Nick Tarantino, Tarantino Properties, Inc., 502 East 11th Street, Suite 400, Austin, TX 78701; 512-302-4500, Fax 512-302-4109; Email: nick@tarantino.com; Web site: www.tarantino.com. DM
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NOTHING FANCY IS GOOD BUSINESS IS GOOD BUSINESS
Cedar Shopping CenterS, inC. DEvElOpErS, OwNErS AND MANAGErS
OF BrEAD AND BUTTEr SHOppING CENTErS速 www.cedarshoppingcenters.com
Great Opportunities in DLC’s Southeast Portfolio!
Anchors Alabama Guitar Center & Staples Centre at Rivechase- Birmingham Kmart & T.J. Maxx Florence Square- Florence Dollar General & Rite Aid Shields Plaza- Huntsville Piggly Wiggly Shoppes at Letson Farms- McCalla Food World Gulfdale Plaza- Mobille Florida Winn Dixie & Wal-Mart Amelia Plaza- Fernandina Beach Fifth Third Bank College Plaza- Fort Myers Publix & AJ Wright Highland Square- Jacksonville Walgreens Monument Landing- Jacksonville Walgreens Lake Mary Plaza- Lake Mary Winn Dixie Marketplace at Ocala- Ocala Winn Dixie Marketplace at Palm Bay- Palm Bay Publix & T.J. Maxx Palm Bay Center- Palm Bay Walgreens Coming Soon! Dansk Plaza- Pompano Beach Anchor Space Available! Ocean East Mall- Stuart Georgia CVS Brookwood Village- Atlanta Walgreens Heritage Square- Conyers Kmart & Kroger Crossroads South- Jonesboro Little Giant & dd’s Discount Tara Crossing- Jonesboro Anchor Space Available! Bethesda Walk- Lawrenceville Kroger Lawrenceville Town Center- Lawrenceville Publix Five Forks Corner- Lilburn LA Fitness Sprayberry Square- Marietta Goodwill Peachtree Parkway Plaza- Norcross Publix Tree Trail Village- Norcross Publix Riverdale Crossing- Riverdale
Georgia Continued... Anchors Holcomb 400- Roswell LA Fitness Cobb Center- Smyrna Publix Indian Creek Crossing- Stone Mountain Super Save Rockbridge Place- Stone Mountain CVS & Food Depot Stone Mountain Square- Stone Mountain T.J. Maxx & Ross Mississippi Fulton Crossing- Corinth Kroger North Carolina Shoppes of Hope Valley- Durham Kroger South Square Marketplace- Charlotte Compare Foods Swift Creek Plaza- Garner Food Lion Akers Center- Gastonia Hobby Lobby & Toys R Us Westpark Shopping Center- Jacksonville Walgreens Greystone Village- Raleigh Food Lion Tower Shopping Center- Raleigh Big Lots & Food Lion South Carolina Armstrong Plaza- Fountain Inn BI-LO Broad River Centre- Columbia Food Lion Butler Square- Mauldin BI-LO North Pointe- Raleigh Publix Poplar Springs- Duncan Publix Tennessee Bell Forge Square- Antioch Shoe Carnival & T.J. Maxx Winchester Court- Memphis Winchester Farmer’s Market Cedars Square- Lebanon Wal-Mart Supercenter Texas Whiterock Marketplace- Dallas Home Depot & Ross
For more leasing information on DLC’s Southeast Portfolio contact Michael Puline - mpuline@dlcmgmt.com I 866.446.4413 NEW LOOK. SAME DEALMAKERS.
w ww.dlcmg mt. com/ southe ast