Reporting The Nation’s Weekly News on Retailing & Retail Real Estate
Volume XXV No. XLV
November 26, 2010
Home-Related Chains Expand Nationwide Banner Carpet & Drapes, Inc. trades as Banner Carpet & Drapes at three locations throughout CA. The stores occupy spaces of 2,500 sq.ft. in freestanding locations and strip centers. Growth opportunities are sought throughout the existing market during the coming 18 months. Typical leases run five years. For more information, contact Richard Borsuk, Banner Carpet & Drapes, Inc., 18814 South Crenshaw Boulevard, Torrance, CA 90504; 310378-5575, Fax 310-327-0947. Rooms To Go trades as Rooms To Go and Rooms To Go Kids at 165 locations throughout AL, FL, GA, LA, MS, NC, SC, TN, TX and Puerto Rico. The stores, offering bedroom, living room and dining room furniture, as well as mattresses, home entertainment items and related accessories, occupy spaces of 30,000 sq.ft. to 80,000 sq.ft. in freestanding locations. Plans call for four to 10 openings throughout TX and the southeastern region of the U.S. during the coming 18 months. Preferred demographics include a population of 300,000 within seven miles earning $50,000 as the average household income. Major competitors include Ashley Furniture. A land area of three to four acres is required. The company prefers to acquire sites. For more information, contact Jeff Finkel, Rooms To Go, 400 Perimeter Center Terrace, Suite 800, Atlanta, GA 30346; 678-475-0499, Fax 770-352-9953; Email: jfinkel@roomstogo.com; Web site: www.roomstogo.com.
Bed Bath & Beyond, Inc. trades as Bed Bath & Beyond at 940 locations nationwide. The stores, offering home décor and seasonal items, bedding and bathroom accessories and electronics, occupy spaces of 20,000 sq.ft. to 75,000 sq.ft. in freestanding locations and mixed-use, outlet, power, specialty, strip and tourist centers, in addition to downtown areas. Plans call for 60 openings throughout the existing market during the coming 18 months. Typical leases run 10 years. A vanilla shell and specific improvements are preferred. Preferred demographics include a population of 100,000 within five miles earning $50,000 as the average household income. For more information, contact Seth Geldzahler, Bed Bath & Beyond, Inc., 650 Liberty Avenue, Union, NJ 07083; 908-688-0888, Fax 908-6888385; Email: seth.geldzahler@bedbath.com; Web site: www.bedbathandbeyond.com. House of Paints, Inc. trades as House of Paints at nine locations throughout NJ. The home improvement stores occupy spaces of 2,500 sq.ft. to 4,000 sq.ft. in freestanding locations and strip centers. Growth opportunities are sought throughout Camden, Ocean and Monmouth counties in NJ during the coming 18 months. For more information, contact Russell Gilbert, House of Paints, Inc., 510 Route 9, Bayville, NJ 08721; 732-237-8715, Fax 732-237-8716; Email: rgilbert@houseofpaints.net; Web site: www.houseofpaints.com. (continued on page twenty-six)
This issue contains information on:
* Retailers operating 58,933 locations with plans to open 2,969 sites * Real estate valued in excess of $146.2 million to be bought, sold & financed * Leasing activity on over 19 million sq.ft. of retail properties
Important News Please Expedite
Postmaster: Periodical
Featuring Pre-Show ICSC New York National Conference New Construction Thalhimer Retail Services is leasing two projects in VA........ Pg. 4 Observations & Conversations Pg. 6 Profile|R.J. Brunelli & Co., Inc. Pg. 8 Food Retailers Expand Red Mango seeking sites throughout select markets in NY Pg. 10 Openings Urban Outfitters, Inc. to open first Anthropologie store in western MI............................... Pg. 14 Buyers & Sellers Henzlik-Oliver Real Estate Cos., LLC acquired an 89,807 sq.ft. property in Austin, TX............... Pg. 25 Exclusives Royal Properties, Inc. represents Lime Fresh Mexican Grill throughout NY.......................... Pg. 25 In the News Recreational Equipment, Inc. hired Mark K. Comstock as vice president, real estate and store development............................ Pg. 27 Lease Signings NAI Friedland negotiated a lease with Allison’s on Fifth, Inc. for 3,000 sq.ft. in New York, NY.... Pg. 30 Lead Sheet Jared – The Galleria of Jewelry looks to open stores throughout New England............................ Pg. 32 Modells Sporting Goods continues on growth path......... Pg. 34 Space Place.............................. Pg. 36 Sources of Financing BMC Capital provides financing for net-leased retail, office, industrial and storage properties................................. Pg. 37 ICSC New York National Conference Floor Plan............. Pg. 50 Most Valuable Players.............. Pg. 54
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New Construction Thalhimer Retail Services is preleasing a mixed-use project located at the intersection of Holland Road and South Independence in Virginia Beach, VA. Space is available. Cotenants include State Farm Insurance and Firehouse Subs. Area demographics include a population of 280,773 within five miles earning $62,028 as the median household income. The company is also redeveloping Volvo Parkway Shopping Center, a 41,000 sq.ft. neighborhood shopping center located at the intersection of Volvo Parkway and Battlefield Boulevard in Chesapeake, VA. Area retail includes Sam’s Club, Home Depot, Lowe’s Home Improvement, hhgregg, Walmart, Carrabba’s Italian Grill, Starbucks and Kohl’s. Area demographics include a population of 93,511 within five miles earning $55,488 as the median household income. For more information regarding the Virginia Beach property, contact Troy Parker, Thalhimer Retail Services, Westmoreland Building, 5700 Cleveland Street, Suite 400, Virginia Beach, VA 23462; 757-4579998; Email: troy.parker@thalhimer.com; Web site: www.thalhimer.com. For more information regarding the Chesapeake property, contact Eric Stanley, Ed Kimple or David Machupa; 757-499-2739 or 757-2134155/4156; Emails: eric.stanley@thalhimer.com, ed.kimple@thalhimer.com and david.machupa@thalhimer.com. Divaris Real Estate, Inc. is redeveloping Biltmore Square Mall, a 492,754 sq.ft. mall situated on 61.4 acres along Brevard Road in Asheville, NC. Space is available, including an anchor position. Belk, Dillard’s, Davis Furniture and Cinebarre Theatre anchor the project. Trade-area demographics include a population of 643,727 earning $60,952 as the average household income. The redevelopment is slated for next year. For more information, contact Diana Teitsma, Divaris Real Estate, Inc., 2115 Rexford Road, Suite 300, Charlotte, NC 28211; 704-442-1988 Ext. 101, Fax 704442-1717; Email dteitsma@divaris.com; Web site: www.divaris.com. Voit Real Estate Services is preleasing Maravilla Center, a 30,342 sq.ft. mixeduse project situated on 2.5 acres along East Ramona Expressway in San Jacinto, CA. Spaces from 798 sq.ft. to 6,400 sq.ft. are available along with a restaurant pad site. For more information, contact Tony Villasenor or Ryan Gonzales, Voit Real Estate Services, 4370 La Jolla Village Drive, Suite 990, San Diego, CA 92122; 858-4530505/3331; Emails: tvillasenor@voitco.com and rgonzales@voitco.com. page 4
November 26, 2010
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Kite Realty Group Trust is redeveloping Rivers Edge, a 111,000 sq.ft. center located at the intersection of East 82nd Street and Dean Road in Indianapolis, IN. Nordstrom Rack and The Container Store anchor the project, which will increase in size to 127,000 sq.ft. Area retail includes The Fashion Mall and Castleton Mall. Area demographics include a population of 180,000 within five miles earning $85,000 as the average household income. The average daily traffic count is 40,000 vehicles. The project is slated for completion next fall. For more information, contact Kite Realty Group Trust, 30 South Meridian Street, Suite 1100, Indianapolis, IN 46204; 317577-5600, Fax 317-577-5605; Web site: www.kiterealty.com. Spire Realty Group, LP is developing The Spire, a mixed-use project located at the intersection of Ross Avenue and Routh Street in Dallas, TX. For more information, contact Spire Realty Group, LP, 2001 Bryan Street, Suite 1550, Dallas, TX 75201-3005; 214-740-2300, Fax 214-953-0275; Web site: www.spirerealty.com.
Lee & Associates Temecula Valley is preleasing Springs Plaza, a mixed-use project located at the intersection of Murrieta Hot Springs Road and Jackson Avenue in Murrieta, CA. Space is available from 1,000 sq.ft. to 5,398 sq.ft. For more information, contact Sheri Shoemaker, Lalli Guerriero or Andrew McLean, Lee & Associates Temecula Valley, 25240 Hancock Avenue, Suite 100, Murrieta, CA 92562; 951-445-4510/4522/4521; Emails: sshoemaker@lee-associates.com, lquerriero@lee-associates.com and amclean@lee-associates.com; Web site: D M www.lee-associates.com.
President/Publisher.............................. Ann O'Neal ann@dealmakers.net Vice President .................................. Alyson Parker alyson@dealmakers.net Art Director................................. Anthony Pingicer anthony@dealmakers.net
Colliers International is preleasing a 90,000 sq.ft. community shopping center situated on 5.95 acres along San Pablo Avenue in El Cerrito, CA. Space is available. Safeway anchors the center. For more information, contact Solomon Ets-Hokin or Henry Englehardt, Colliers International; 925-279-5571/4602; Emails: setshokin@colliersparrish.com and henglehardt@colliersparrish.com.
Editor.................................................. Erin Dunkley
McWhinney, with RED Development, LLC, is developing retail projects at Centerra, a 3,000-acre project located at the intersection of Interstate 25 and U.S. Highway 34 in Loveland, CO. For more information, contact McWhinney, 2725 Rocky Mountain Avenue, Suite 200, Loveland, CO 80538; 970962-9990, Fax 970-635-3003; Web site: www.mcwhinney.com.
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Newmark Knight Frank|Cornish & Carey Commercial is preleasing a 129,000 sq.ft. neighborhood shopping center situated on 12.5 acres at the intersection of Interstate 680 and Bernal Avenue in Pleasanton, CA. The center is slated to open next year. For more information, contact Jim Randolph, Jake Randolph or Matt Sweeney, Newmark Knight Frank|Cornish & Carey Commercial; 408-982-8468 or 408-9874194/4119; Emails: jrandolph@ccarey.com, jakerandolph@ccarey.com and msweeney@ccarey.com. Dealmakers
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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.
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Observations & Conversations Hopefully in 2011 we won’t be talking about seeing light at the end of the tunnel, but actually basking in it. Happy Thanksgiving and welcome to The Dealmakers’ Pre-Show ICSC New York issueI This is a precursor so you can get acquainted with our advertisers before the show and check out the convention floor plan on pages 50 through 52 to get a layout of who’s where. The ICSC is expecting about 6,000 attendees at the New York show this year, which is actually a gain over last year’s attendance count. My hunch is that attendance will be up this year. Why? Because I’m seeing companies getting back to hiring acquisition and leasing people, plus I’m seeing a surge in service businesses, such as brokers, architects, lawyers and construction companies, resubscribing to The Dealmakers after taking a six-month to one-year hiatus. That means that they’ve gotten more business in the past few months, or are anticipating better cash flow next year; either way, it’s a good indicator that times are improving. Based on some of the leads we have for you in this issue and our show edition, there are deals out there. Also, we have a profile in this issue on R.J. Brunelli & Co., a New Jersey-based retail brokerage firm, and it gives you a good overview on what’s happening in their market and what kind of deals they’ve been making. I’ve also read a few surveys from different sources about rents and vacancies in New York and New Jersey. It appears that rent and vacancies in the New York, NY metropolitan market and central to northern New Jersey are holding their own, with increases in asking rents in Manhattan and the outer boroughs, along with dense parts of northern New Jersey. A report from the Real Estate Board of New York stated that asking rents in the Times Square area of Manhattan are at $1,700 psf, and other, less touristy areas are seeing rents in the $500 psf range. Vacancies in these markets have remained pretty stable, while Upstate New York and the southern region of New Jersey are just sitting tight with not much movement in rents or vacancies over the past year. As for new development, just as with most other parts of the country, there’s not much to talk about in the Northeast. Equity One is working on developing a 22-acre site in Long Island, NY. The site should perform well, since it’s got Walmart, Target, Marshalls and Costco next door. In Brooklyn, a $45 million retail and residential project just broke ground. The mixed-use project will house about 10,000 sq.ft. of retail and 105 residential units. I’ve also heard about several small projects in Connecticut and New Jersey that are under construction, with most of them being under 50,000 sq.ft. There are a lot of redevelopment projects being touted, but we all know it is much easier to lease new construction sites to national and regional credit tenants than it is to convince them to retrofit second-generation space. My hunch is that a number of these redevelopment projects will actually be teardowns and rebuilds rather than retrofits, once the economy gets on firmer ground. page 6
November 26, 2010
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On the acquisition side, Winstanley Enterprises acquired a combined 329,000 sq.ft. across six retail properties from A&P supermarkets in a sale-leaseback transaction valued at almost $90 million. Three of the sites are located in New York, with the remaining three in Delaware, New Jersey and Pennsylvania. Ninety million bucks – that’s a pretty big deal in this economy. Another player in the acquisition field is Coremark Group. They are looking for parcels of up to 25 acres throughout New Jersey, New York and Pennsylvania. Coremark does a lot of Walgreens deals and small strip centers with as few as two tenants, such as their project in Ramsey, New Jersey featuring Smashburger and The Vitamin Shoppe. They’ve got about nine development projects in the pipeline for next year. AmCap is also on the acquisition warpath, with almost one million square feet acquired this year and an appetite for more grocery-anchored centers. A few months back, AmCap acquired an 85,000 sq.ft. Trader Joe’s-anchored center in the Richmond, Virginia market. Urstadt Biddle is also in the market for acquisitions in the Northeast, and the REIT acquired 10% to 100% stakes in four properties this year. As to acquisitions in the Northeast, deals are getting done, and it’s not just the high-powered REITs, but also smaller developers are back in the market and closing deals. Hopefully, retailers will have a good holiday season, which will help keep the slow momentum that we’ve got going, and with any luck a boost in sales volumes will help rev up leasing activity. A lot of national chains are opening temporary stores for the holiday season to help boost sales, and most of them are spending very little money to get the stores open. From what I hear, for the most part they aren’t paying much in rent either. It would be nice to hear that retailers are opening stores because business was good instead of just because they want to opportunistically capture cheap rent deals while the getting is still good. My gut feeling is that, even with all the pent-up shopping desires of cash-strapped Americans, holiday sales this year won’t be much different from last year. I hope I am wrong, and you can call me a pessimist, but it’s hard to ignore our unemployment rate and still expect substantially higher retail sales this year over last. I’m looking forward to the convention. The New York show is always a great way to mark the beginning of a new year. God knows all of us are ready for the good times again, and hopefully in 2011 we won’t be talking about seeing light at the end of the tunnel, but actually basking in it. New York is also a great show to catch up with old friends and make new ones. Make sure you stop by our booth in Rhinelander Gallery #153 and say hello.
Ann O’Neal, Publisher
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r.j. brunelli & co., inc.
Profile — A monthly column featuring retailers and retail real estate companies
Experts in retail from the ground up
Adam Taliercio R.J. Brunelli & Co., Inc. is a brokerage firm focused on real estate representation for retailers and restaurants throughout New Jersey and the New York, NY metropolitan area. The company has provided retail tenant and landlord representation as well as shopping center development and leasing services throughout the region for nearly 35 years. The company’s regional focus affords them expert knowledge of the retail market, and their existing relationships with landlords often help them to know about prime spaces in the state before they become available, said Danielle Brunelli Albrecht, vice president of lifestyle leasing. “At every ICSC show, we meet with landlords and review property portfolios with the local reps,” she said. “We’re constantly on the phone with landlords and on the road digging up new sites, and our annual vacancy survey allows us to quickly review the vacancies along major highways.” The office’s central NJ location also makes visiting any site within the state a relatively simple matter, she added. The company will also venture out of its primary area of Danielle Brunelli Albrecht focus and consider out-of-state deals Vice President of Lifestyle Leasing for certain clients. The company currently represents approximately 26 retailers, Brunelli Albrecht said, citing Toys “R” Us, Ulta, Sally Beauty Supply, Tuesday Morning, Massage Envy, 6th Avenue Electronics and Work Out World as satisfied long-term customers. “Toys ‘R’ Us has been one of our most loyal clients,” she said, “due to our ability to develop strategic expansion plans, prioritize and target markets, create stateof-the-art presentations and, of course, deliver deals which result in stores that surpass volume projections. Sally Beauty Supply and Tuesday Morning have been clients for over 10 years…6th Avenue Electronics and Work Out World have also been loyal clients who trust our advice and our ability to make deals in their best interest.” The company has also been the exclusive broker for Trader Joe’s throughout NJ and Rockland County, NY since 2004. When assisting a client with a development, R.J. Brunelli & Co. works with them from the ground up, starting by helping to lay out conceptual site plans for the project. The company maintains a database of footprints for a variety of retailers, from banks to quickcasual restaurants, supermarkets and home improvement centers, making it easier to establish a conceptual plan with a developer. The company has been working on Marlboro Commons, a project located at the intersection of Route 9 and Route 520 in Marlboro, NJ for the past several years. They recently sold the property to a developer and are now close to signing an anchor tenant, Brunelli Albrecht said. Some of the company’s other notable deals within the past year include the acquisition of two Office Depot properties in Deptford, NJ and Langhorne, PA for 6th Avenue Electronics; the procurement of locations on behalf of Muscle Maker Grill in Bayonne, Wall and Warren, NJ, and the acquisition of two locations for European page 8
November 26, 2010
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Wax Center in Middletown and Marlboro, NJ. R.J. Brunelli & Co. also negotiated a number of leases throughout NJ, including deals with Work Out World for a 30,000 sq.ft. former Cost Cutters in Wall Township; with Annie Sez and David’s Bridal, on behalf of the landlord, for space at Summerhill Square, located along Route 18 in East Brunswick, and with Ulta for 10,800 sq.ft. at a new power center in Manahawkin. The company also obtained tenant representation accounts for Dollar Tree and A.C. Moore, Brunelli Albrecht said, thanks to recommendations made by a landlord and a retail client the company has maintained long-term relationships with. “There is no greater success than a great reputation,” Brunelli Albrecht said. “Our tenant rep list continues to grow due to our hard work, experience, and of course, our ability to make deals.” The bankruptcies of Linens ‘N Things and Circuit City had a significant impact on retail real estate in NJ, Brunelli Albrecht said. At this time, 70% of the closed Linens ‘N Things throughout central and northern NJ have since been absorbed by retailers such as HomeGoods, Best Buy, Christmas Tree Shops, Unique, LA Fitness and Top Tomato – a supermarket chain that R.J. Brunelli & Co. recently represented in the leasing of a former Linens ‘N Things at The Commons at Holmdel in Holmdel, NJ. Circuit City vacancies have been less quickly filled: As of this writing, about 55% of the closed electronics stores have been absorbed, a figure Brunelli Albrecht attributed to most of these locations being freestanding and retailers’ demand for especially strong cotenancy in today’s economy. “Deals are still being made,” Brunelli Albrecht said of the region, “but retailers are much more selective in today’s environment and deals are taking a lot longer to get done, as landlords are initially reluctant to reduce rents or provide tenant improvement allowances [or] free rent. But, in the end, we have procured some great deals for tenants. Our company has been careful to not take too many listings; instead, we have been focusing our efforts on prime locations and obtaining more tenant representation accounts, as it’s truly a tenants’ market today. Several years ago, brokers knew what real estate their clients could and could not afford; today, anything goes. If our client has interest in a property, we will present an offer, and most likely we will be able to get it done.” Brunelli Albrecht cited local supermarkets and health clubs as particularly solid retailers – and as attractive tenants to landlords. Supermarkets such as Top Tomato have been able to take advantage of recent vacancies, she said, allowing the retailer to enter desirable markets at lower rents, whereas several years ago there would have been more barriers to entry in those areas. Health clubs such as Work Out World are also capitalizing on reduced rents, and the increased traffic they bring to a center makes them a particularly appealing tenant, Brunelli Albrecht said. The company has also done a number of deals this year with fast-casual restaurants such as Muscle Maker Grill, The Turning Point and Belzano. “For many years, it was frustrating when we obtained a fast-casual restaurant account,” she said, “because there was little-to-no space available in prime centers. Most landlords didn’t want to lease to restaurants because they were scared to deal with issues such as trash, and because they had other options. Today, restaurants have become quite desirable to landlords, as they’re able to pay higher rents and they drive in traffic.” (continued on page thirty-nine) www.dealmakers.net
1 he 6 t t #3 ) to s a th el th al oo ot . wi ion (b n H ies et ss nce ilto ntit Me rofe fere e H ortu y p on th pp alt C in o Re ork ll 1 ate M Y Ha est DJ New as eal ic r SC er s IC Am scus in di
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IS YOUR REAL ESTATE WORKING...
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At DJM Realty, we help our clients reduce their real estate exposure by disposing of under-performing leases and fee-owned real estate and renegotiating occupancy costs. We also put our own capital to work to create strategic solutions. Facilitating growth
cutting occupancy costs
Eliminating surplus rEal EstatE
rEsolving warEhousE & oFFicE issuEs
Assisted in aggressive growth strategy by facilitating the acquisition of a significant number of retail leases throughout the U.S.
Disposition and lease renewals.
Disposition of locations nationally.
Relocated Utah manufacturing plant to a new 400,000 sq. ft. facility in CA and subleased a facility in TX on behalf of ICON.
Joint venture with Tractor Supply to purchase all assets and real estate of Quality Stores.
Engaged to restructure entire real estate portfolio including terminations and rent reductions.
Ongoing disposition advisor; sold, subleased or terminated leases.
Disposition project of 5 warehouse and industrial facilities totalling approx. 2 million sq. ft.
Joint venture with Rainbow Apparel to purchase Norstan locations.
Disposition and rent reductions of locations nationally.
Sold or subleased properties.
Disposition of 800,000 sq. ft. grocery distribution center, 3 warehouse facilities and 1 reclaim center.
Purchased supermarket chain on behalf of Hannaford; then disposed of all the assets and leased the locations to Hannaford.
A comprehensive real estate portfolio review with store closings, lease restructuring, rent reductions and lease renewals.
Disposition of locations nationally.
w w w. d j m r e a l t y. c o m Andy Graiser agraiser@djmrealty.com
Emilio Amendola eamendola@djmrealty.com
Mike Matlat mmatlat@djmrealty.com
631.752.1100
Peter Lynch plynch@djmrealty.com
Joe Dimitrio jdimitrio@djmrealty.com
Disposition of 3 warehouse distribution centers totaling 800,000 sq. ft. in 3 states.
Michael Jerbich mjerbich@djmrealty.com
Andy Couch acouch@djmrealty.com
James Avallone javallone@djmrealty.com
Fred Burstein fburstein@djmrealty.com
Food Retailers Expand Nationwide Red Mango operates 79 locations nationwide throughout 25 states. The yogurt shops occupy spaces of 1,000 sq.ft. to 1,500 sq.ft. in neighborhood shopping centers and downtown areas. Growth opportunities are sought throughout Nassau, Suffolk and Westchester counties, as well as Brooklyn, Manhattan, Queens and Staten Island, NY, during the coming 18 months, with representation by Breslin Realty. Typical leases run 10 years with one to two, five-year options. A vanilla shell and specific improvements are preferred. Preferred cotenants include supermarkets, fashion and entertainment retailers and restaurants. The company prefers to locate in areas with high foot traffic. Starbucks operates 16,000 locations nationwide and internationally. The coffee shops occupy spaces of 1,500 sq.ft. to 1,800 sq.ft. in freestanding locations and endcaps of shopping centers. Growth opportunities are sought throughout Nassau and Suffolk counties in NY during the coming 18 months, with representation by Breslin Realty. Typical leases run 10 years with options. For more information regarding Red Mango, contact Jeb Bellsey, Breslin Realty, 500 Old Country Road, Garden City, NY 11530; 516-741-7400 Ext. 267, Fax 561-741-5621;
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Email: jbellsey@breslinrealty.com; Web site: www.breslinrealty.com. For more information regarding Starbucks, contact Russel Helbling; 516-741-7400 Ext. 214; Email: rhelbling@breslinrealty.com. Chipotle Mexican Grill operates 900 locations nationwide. The restaurants occupy spaces of 2,200 sq.ft. to 2,600 sq.ft. in freestanding locations and endcaps of shopping centers. Growth opportunities are sought throughout southeastern FL during the coming 18 months, with representation by The Shopping Center Group. For more information, contact Bryan Fetherston or Craig Fetherston, The Shopping Center Group, 5201 Blue Lagoon Drive, Suite 550, Miami, FL 33126; 305262-8877, Fax 305-262-7180; Emails: bryanf@theshoppingcentergroup.com and craigf@theshoppingcentergroup.com; Web sites: www.chipotle.com and www.theshoppingcentergroup.com. Buck’s Pizza Franchising, Inc. trades as Buck’s Pizza at 50 locations nationwide. The pizzerias occupy spaces of 1,200 sq.ft. to 2,400 sq.ft. in freestanding locations, strip centers and urban/downtown areas.
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Growth opportunities are sought throughout the existing market during the coming 18 months. Expansion is franchise-driven, and the company is also considering locations of 5,000 sq.ft. for a new prototype. For more information, contact Lance Benton or Evelyn Benton, Buck’s Pizza Franchising, Inc., PO Box 405, Du Bois, PA 15801; 814-371-3076, Fax 814-371-4214; Email: lance@buckspizza.com; Web site: www.buckspizza.com. Freshii operates 17 locations throughout CA, CO, IL, NY, TN, TX and Washington, DC. The restaurants, offering salads, wraps, rice bowls, soups, burritos and breakfast items, occupy spaces of 500 sq.ft. to 1,500 sq.ft. in freestanding locations and endcaps of strip centers. Growth opportunities are sought throughout Manhattan, NY during the coming 18 months, with representation by BCD. Typical leases run 10 to 15 years. Expansion is franchise-driven. For more information, contact Alexandra Turboff, BCD, 115 East 23rd Street, 6th Floor, New York, NY 10010; 212-260-5210 Ext. 16, Fax 212-260-5211; Email: aturboff@bcdmail.com; Web site: www.bcdevelopment.com. (continued on page twelve)
Coremark Group
LOOKING FOR LAND! New Jersey, New York and Pennsylvania Parcels from 1 to 25 Acres If you have a site you would like to submit, please contact: Brian Wasilenko: bw@coremarkgroup.com (201) 847-2600 x.113 or Jordan Liebowitz: jl@coremarkgroup.com (201) 847-2600 x.114 www.coremarkgroup.com
392 Main Street, Wyckoff, New Jersey 07481 | (201) 847-2600 | F: (201) 560-0600
Food Retailers Expand Nationwide (continued from page ten)
Au Bon Pain operates 226 locations nationwide and internationally. The casual bakeries and cafes occupy spaces of 2,200 sq.ft. to 3,000 sq.ft. in urban/downtown areas. Plans call for three openings throughout the Baltimore, MD and Washington, DC metropolitan areas during the coming 18 months, with representation by Woodmark Commercial Services. For more information, contact Anastasia Kharchenko, Woodmark Commercial Services, 1025 Thomas Jefferson Street Northwest, Suite 170, Washington, DC 20007; 202-857-4320, Fax 202-7857378; Email: ak@woodmarkre.com; Web sites: www.aubonpain.com and www.woodmarkre.com. Q’s Restaurant Group trades as Cheddar’s Casual Café at two locations in Tampa, FL. The casual restaurants occupy spaces of 8,000 sq.ft. in freestanding locations. Limited growth opportunities are sought throughout the existing market during the coming 18 months, with representation by Landmark Sites, Inc. Major competitors include Applebee’s and Chili’s. Preferred demographics include a population of 125,000 within five miles earning $35,000 as the average household income. A land area
of 1.5 to 1.8 acres is required. For more information, contact Bill Hickman, Landmark Sites, Inc., 1049 Royal Birkdale Drive, Tarpon Springs, FL 34688; 727-944-2663, Fax 727-944-2665; Email: bgh.lansit@verizon.net; Web site: www.cheddars.com. T.G.I. Friday’s operates 928 locations nationwide and internationally. The casual restaurants occupy spaces of 6,500 sq.ft. to 7,700 sq.ft. in freestanding locations, power centers and regional malls. Plans call for five openings throughout southern CA during the coming two years, with representation by Retail Net Lease Properties, Inc. Typical leases run 20 years. Major competitors include Applebee’s and Chili’s. The Coffee Bean & Tea Leaf operates 800 locations nationwide and internationally. The restaurants occupy spaces of 1,000 sq.ft. to 1,600 sq.ft. in urban/downtown areas and endcaps of lifestyle, power and regional centers. Plans call for 10 openings throughout Los Angeles and Ventura counties in CA during the coming 18 months, with representation by Retail Net Lease Properties, Inc. Typical leases run five years. Major competitors include Starbucks and Peet’s Coffee. The company prefers sites with a drive-thru. Pizza Hut operates 10,000 locations nationwide and internationally. The pizzerias
occupy spaces of 1,200 sq.ft. to 1,800 sq.ft. in urban/downtown areas and power and strip centers. Plans call for 10 openings throughout southern CA during the coming 18 months, with representation by Retail Net Lease Properties, Inc. For more information, contact Charlie Cangelosi, Retail Net Lease Properties, Inc., 360 North Sepulveda Boulevard, Suite 1020, El Segundo, CA 90245; 310-242-7656, Fax 310-414-0040; Email: charlie@rnlp.biz; Web site: www.rnlp.biz. Pizza Autentica operates eight locations throughout MD, VA and Washington, DC. The pizzerias occupy spaces of 1,300 sq.ft. to 2,000 sq.ft. in freestanding locations, central business districts and endcaps and inline spaces of shopping centers. Growth opportunities are sought throughout the existing markets during the coming 18 months, with representation by Transwestern Retail. A tenant improvement allowance is preferred. The company prefers to locate in areas with dense daytime populations. For more information, contact Alex Walker, Transwestern Retail, 1700 K Street Northwest, Suite 660, Washington, DC 20006; 202-775-7087, Fax 202-775-7009; Email: alex.walker@transwestern.net; Web D site: www.tretail.com. M
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November 26, 2010
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We’re busy searching for new properties! Owning and operating Grocery Anchored Retail centers throughout the country since 1979 AmCap closed on 800,000 square feet of retail assets in Q3 2010 alone. Today, we seek neighborhood, community or regional centers, anchored by grocery and other national retailers. Loan purchases will also be considered.
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Who’s Opening and Where Bealls, Inc. (941-747-2355) plans to open 10 Bealls Outlet locations by spring of next year. The company recently opened 22 locations during October and currently operates 560 locations nationwide, trading as Bealls, Bealls Outlet and Burke’s Outlet. Easter Seals – Goodwill Northern Rocky Mountain (406-761-3680) plans to open a 14,000 sq.ft. Goodwill Industries location along Lasalle Road in Evergreen, MT. The store is currently under construction with an opening slated for May. The company operates Goodwill Industries locations throughout southern ID and MT.
Olan Mills, Inc. (423-622-5141) plans to open an Olan Mills Portrait Studio at Kentucky Oaks Mall, located along Interstate 24 in Paducah, KY. The store is slated to open early next year and will join Linens & More For Less!, Dick’s Sporting Goods, David’s Bridal and Hobby Lobby at the center. Dollar General Corp. (615-855-4000) will open a Dollar General store on 1.72 acres at the intersection of Airport Road and Dothan Road in Bainbridge, GA. The store will be the company’s third in the area. The company currently operates locations throughout 35 states nationwide.
&
Locations Wanted!
Urban Outfitters, Inc. (215-454-5500) plans to open a 22,000 sq.ft. Anthropologie store at Breton Village, a 180,000 sq.ft. mall located along Breton Road in Grand Rapids, MI. The store, offering women’s apparel and accessories, as well as home décor, will join Jos. A. Bank, Leigh’s, Talbots and Fitzgerald’s Men’s Store at the center. The location will be the company’s first in western MI and their third in the state, and is slated to open next fall. The company currently operates 145 Anthropologie stores nationwide and internationally. Casey’s General Stores, Inc. (515-965-6100) will open a Casey’s General Store along Mount Vernon Road Southeast in Cedar Rapids, IA early next year. The store will be in the company’s new format, featuring a made-to-order sandwich counter, a selfserve ice cream section and an expanded coffee counter and serving area, as well as an increased number of gas pumps, and will replace a former Casey’s location at the site that has been demolished to make way for the new store. Walgreen Co. (847-914-2500) plans to open 12 Walgreens pharmacies throughout the Washington, DC metropolitan area during the coming two years, having opened 12 stores in the area during the past year. The company also plans to renovate 5,500 existing locations. The company currently operates 8,046 locations nationwide, and opened 564 locations nationwide during the 2010 fiscal year. Tuesday Morning (972-387-3562) will open an 11,576 sq.ft. store at Summit Place Shopping Center, located along Highway 6 in Silverthorne, CO. The store will join The UPS Store, OfficeMax and Brooks Furniture and Design at the center, and is slated to open next spring. The TJX Cos., Inc. (508-390-3000) will open a 26,500 sq.ft. Marshalls store at The Landing, a mixed-use center featuring a 600,000 sq.ft. retail component and a 900-unit multifamily component situated on 46 acres in Renton, WA. The store is slated to open next spring. Dick’s Sporting Goods is also slated to open a 52,400 sq.ft. location in a former Joe’s Sports location at the center. The stores will join Target, PetSmart, Staples, Eyes on the Landing, Creative Mom Toys, Fresh Way Pizza, Mucho Burrito, LA Fitness, Ross Dress for Less and Regal Cinemas at the center. The company currently operates 2,700 locations nationwide under the T.J. Maxx, Marshalls, HomeGoods and A.J. Wright trade names. (continued on page sixteen)
page 14
November 26, 2010
The
Dealmakers
www.dealmakers.net
Retail Specialists unique
real
estate
NY, NJ, CT & PA
solutions
• Airmont/Suffern, NY – Route 59
• Poughkeepsie, NY – Route 9 – Ashton Park
• Ardsley, NY – Saw Mill River Rd. – Rite Aid Shopping Center
• Somers, NY – 162 & 164 Mill St. (Route 202) – FOR LEASE/SALE
• Eastchester, NY – Route 22 & Mill Road
• Thornwood, NY – Columbus Ave. – Rosehill Shopping Center
• Elmsford, NY – Saw Mill River Rd.
• Vails Gate, NY – Route 32 – Big V Town Center
• Harriman, NY – Route 17/6 – Woodbury Centre
• Wappingers Falls, NY – Route 9 – 3 Acre Parcel
• Katonah, NY – 18 Woods Bridge Rd. (Route 117)
• Wappingers Falls, NY – Route 9 – Lafayette Plaza
• Kingston, NY – Ulster Avenue (Route 9W)
• Yonkers, NY – Main Street – New Construction at Waterfront
• Mamaroneck, NY – Boston Post Rd. (Route 1) – Seaport Plaza
• Voorhees, NJ – Route 73 & Cooper Rd. – Coopers Plaza
3,000 - 60,000 SF Avail. Shopping Center redevelopment.
1,200 - 14,000 SF & Pad Sites. New Development on Rte. 9. Great Visibility.
1,200 SF Avail. Join Post Office & Chase Bank.
Up to 2,250 SF Avail. Across from Stop & Shop and CVS
1,600 & 2,310 SF Avail. Free Standing Buildings. 22 On-Site Parking Spaces.
2,000 SF Avail. Join A&P, CVS, Verizon, Chase, Radio Shack & Hallmark.
7,000 SF Avail. Restaurant. 50 Car Parking.
1,000 - 8,000 SF & 5,224 Restaurant Avail. Join Shop Rite, K-Mart, Key Bank.
12,000 - 31,000 SF Avail. Join Kohl’s, Modell’s, Michael’s, Staples & Eileen Fisher.
2,560 SF Avail. Free Standing Building with Drive-Thru. Newly Developed.
2 Free Standing Pad Sites with Drive-thru. Up to 15,000 SF Avail.
900 - 6,920 SF end cap Avail. Join Subway & The UPS Store. High Traffic/Visibility.
• Middletown, NY – Route 211 – H&K Furniture Plaza – FOR LEASE/SALE 1,875 & 43,000 SF Avail. Join Aldi, Cosmo Prof & Sherwin-Williams.
• Middletown, NY – Route 211 – Fairgrounds Plaza
1,600 - 150,000 SF & Pad Site Avail. Redevelopment Underway.
• Monroe, NY – Route 17M – Monroe Plaza
1,800 - 50,000 SF Avail. Join Stop & Shop, Radio Shack, Rite Aid & McDonald’s.
• Mt. Vernon, NY – S. 4th St. – FOR SALE
Retail Building Avail. Enormous Pedestrian Traffic. Join Rainbow & Verizon.
• Nanuet, NY – Route 59 – Rockland Center
1,944 - 50,000 SF Avail. Join Pathmark, Office Depot, PetSmart, AC Moore, Five Guys, Chili’s & HomeGoods. High Traffic/Visibility.
Up to 10,000 SF Free Standing Pad Avail. 45,000 Cars per day on Route 9. 1,520 - 10,000 SF Avail. 45K cars per day. Join Dollar General.
2,500 - 12,000 SF Avail. Join Key Bank, Retro Fitness & Verizon FIOS. 1,500 - 6,000 SF Pad Site & up to 10,000 SF Avail. Join Kohl’s, Party City, Marshall’s & Raymour & Flanigan. High Traffic/Visibility.
• Horsham, PA – Blair Mill Rd. – Village Mall
22,000 - 128,000 SF Avail. Join ACME, Dollar Tree & Rite Aid
• Perkasie, PA – Constitution Ave. – Perkasie Shopping Center
1,200 - 10,000 SF Avail. Join Landis Supermarket, Rite Aid & McDonald’s.
• Avon, CT – Nod Brook Mall
600 - 7,000 SF Avail. Join Michael’s, Fresh Markets and Marshall’s.
• Derby, CT – Pershing Drive – ShopRite Plaza
3,800 - 9,600 SF Avail. Join ShopRite, Petland, Pay-Half & Advance Auto Parts.
• Newington, CT – Berlin Tpke. – JoAnn’s Plaza
1,500 SF Avail. Join JoAnn’s, Big Lots, Modell’s, Planet Fitness & T-Mobile.
• Newburgh, NY – Route 300 – Newburgh Towne Center
• Norwalk, CT – Route 1 – ShopRite Plaza
• Pawling, NY – Route 22 – Pawling Park
• Norwalk, CT – 607 Main Ave. (Route 7) – Center Seven
• Peekskill, NY – Route 6 – Main Street Commons
• Norwalk, CT – 652 Main Ave. (Route 7) – Wal-Mart Center
• Pelham, NY – Lincoln Ave. – New Development
• Orange, CT – Firelite Shopping Center – Retail/Office
• Port Chester, NY – Westchester Ave. – Waterfront at Port Chester
• Stamford, CT – Route 1 – Shop Rite Plaza
1,400 SF Avail. Join Super Stop & Shop, Marshall’s, Dress Barn & AT&T.
1,750 - 20,000 Avail. New Shopping Center. Drive-thru possible. 1,000 - 15,000 SF Avail. New Construction. Join Auto Zone. 1,600 SF Avail. Upscale Community. Join Dunkin’ Donuts.
4,700 SF Sublease. Food OK. Join Stop & Shop & Bed Bath & Beyond.
2,500 - 20,000 SF Avail. Join ShopRite, Barnes & Noble, GameStop, GNC & UPS.
1,400 – 4,300 SF Avail. Join Starbucks, Quiznos & Citibank.
3,200 – 7,000 SF Avail. Join Wal-Mart, Staples, Hallmark & Bank of America.
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Who’s Opening and Where (continued from page fourteen)
Forever 21, Inc. (213-741-5100) will open a 99,000 sq.ft. location in a former Saks Fifth Avenue at The Shops at Mission Viejo in Mission Viejo, CA. The store will offer men’s and women’s apparel and accessories. The company also plans to open a 43,000 sq.ft. location within a Sears store at South Coast Plaza, located in Costa Mesa, CA. Both stores are slated to open next spring. The company currently operates 460 locations nationwide and internationally. Winmark Corp. (763-520-8500) will open a 3,120 sq.ft. Plato’s Closet store along Eastchester Drive in High Point, NC. The store, offering used name-brand apparel, is slated to open by early January. The company currently operates 250 franchised locations nationwide and throughout Canada, including 11 stores throughout NC. Brooks Brothers (800-274-1815) plans to open a 5,993 sq.ft. store along Market Street in The Woodlands, TX. The store will feature apparel including suits, sportswear, accessories and furnishings for men, women and children, and is slated to open next spring.
Dunn Bros. Coffee Franchising, Inc. (612877-3603) plans to open a Dunn Bros. Coffee shop at The Shops at Duck Creek, a 7,000 sq.ft. retail building currently under construction at the intersection of Middle Road and Kimberly Road in Bettendorf, IA. The coffee shop, which will also offer sandwiches, soups and desserts, as well as teas and fruit smoothies, will join Red Ginger and Cartridge World at the site, and is slated to open early next year. Cousins Submarines, Inc. (262-253-7700), through franchisees, plans to open four or five Cousins Subs sandwich shops throughout the Duluth, MN area during the coming three years. The company currently operates 150 stores throughout six states nationwide, including 15 company-owned locations and 135 franchises. Best Buy Co., Inc. (612-291-1000) will open a Best Buy store at Reynolds Ranch, located along Harney Lane in Lodi, CA. The store is slated to open between fall of next year and spring 2012. Costco also plans to open a 154,114 sq.ft. location at the center during March, and Home Depot will open a store during mid-November of next year.
The Kroger Co. (513-762-4000) plans to open a 123,000 sq.ft. Kroger Marketplace store in Little Elm, TX. The store will offer groceries as well as bed and bath items, kitchenware, furniture and other items, and will feature an in-store Fred Meyer jewelry location. The store is slated to open next fall. The company also plans to open a Marketplace store in Ft. Worth, TX early next year, as well as two locations in Dallas, TX. Bass Pro Shops, Inc. (417-873-5000) is scouting potential locations in Richmond County, GA. The company currently operates 56 stores, offering hunting, fishing and camping gear, nationwide. The Home Depot, Inc. (770-433-8211) may open a 135,000 sq.ft. Home Depot store in Buena Park, CA. The proposed store would feature a 28,000 sq.ft. garden center. The company currently operates 23 stores throughout Orange County, CA. Kohl’s Corp. (262-703-7000) will open a 55,000 sq.ft. Kohl’s at the intersection of Fifth Avenue South and 30th Street in Ft. Dodge, IA. The store is slated to open during October of next year. DM
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November 26, 2010
The
Dealmakers
www.dealmakers.net
Visit us at the 2010 NY Deal MakiNg — aMericas hall ii Booth #405
welco represents‌
914-576-7500 | jwelkis@welcorealty.com For a complete listing of our retail properties in New York, New Jersey & CT, please visit our website at www.welcorealty.com
Buyers and Sellers CB Richard Ellis, Inc. is selling a freestanding 138,406 sq.ft. former Sam’s Club situated on 14 acres along Highway 111 in La Quinta, CA. Area retail includes Walmart, Marshalls, PetSmart and Costco. Area demographics include a population of 284,506 within 10 miles earning $82,810 as the average household income. For more information, contact Maggie Montez or Shawna Strange, CB Richard Ellis, Inc., 74-770 Highway 111, Suite 101, Indian Wells, CA 92210; 760-341-2272 or 760-3461460; Emails: maggie.montez@cbre.com and shawna.strange@cbre.com; Web site: www.cbre.com/indianwells.
MJB Real Estate Services Corp. is selling a 1.7-acre parcel located along Plains Road in Essex, CT. Area retail includes Oliver’s Tavern, Subway, Webster Bank and Essex Savings Bank. Area demographics include a population of 27,792 within five miles earning $103,471 as the average household income. The average daily traffic count is 12,300 vehicles. The asking price is $1.2 million. For more information, contact Dan Johnson, MJB Real Estate Services Corp., 260 Quarry Road, Unit A, Milford, CT 06460; 203-306-0222 Ext. 13, Fax 203-306-0229; Email: djohnson@mjbcorp.com; Web site: www.mjbcorp.com.
The best of both worlds! Urstadt Biddle Properties Inc. is the dominant grocery-anchored shopping center owner in the Westchester/Fairfield County markets... now with a growing portfolio in Northern NJ. We currently have big box availabilities in:
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Quantum Real Estate Advisors is selling a CVS located along South Northwest Highway in Barrington, IL. The tenant is bound to a 25-year NNN lease set to expire during December 2030 featuring 10, five-year options. Area retail includes Starbucks, JewelOsco, Baskin-Robbins, Harris Bank, The UPS Store, Quiznos and Dunkin’ Donuts. Area demographics include a population within one mile earning $150,000 as the average household income. The average daily traffic count is 46,000 vehicles. The NOI is $562,409 million. The asking price is $7.447 million. The company is also selling a CVS located along East Roosevelt Road in Wheaton, IL. The tenant is bound to a 25-year NNN lease set to expire during December 2030 featuring 10, five-year options. Area demographics include a population within one mile earning $100,000 as the average household income. The average daily traffic count is 50,000 vehicles. The NOI is $460,807. The asking price is $5.001 million. For more information, contact Jordan J. Kaufman, Quantum Real Estate Advisors, 1400 West Sixteenth Street, Suite 175, Oak Brook, IL 60523; 630-203-6339; Email: jkaufman@qreadvisors.com. The Rotella Group, Inc. is selling a 1.62-acre parcel located at the intersection of Palm Avenue and Miramar Boulevard in Miramar, FL. Area retail includes McDonald’s and Walgreens. Area demographics include a population of 167,676 within three miles earning $63,213 as the average household income. The average daily traffic count is 34,900 vehicles. The asking price is $1.495 million. The company is also selling four contiguous parcels of 24,214 sq.ft.; 27,731 sq.ft.; 44,667 sq.ft. and 47,654 sq.ft. located at the intersection of Palm Avenue and Miramar Boulevard in Miramar, FL. The asking price is $495,000 for the 24,214 sq.ft. parcel, $650,000 for the 27,731 sq.ft. parcel, $895,000 sq.ft. for the 44,667 sq.ft. parcel and $995,000 for the 47,654 sq.ft. parcel. The company is also selling a 9,800 sq.ft. former Blockbuster Video located along West Atlantic Boulevard in Coral Springs, FL. Area retail includes Brizzy’s Day Spa, Domino’s Pizza and Cricket Cleaners. Tradearea demographics include a population of 118,551 earning $71,098 as the average household income. The average daily traffic count is 24,000 vehicles. For more information, contact Steve Miller, The Rotella Group, Inc., 3300 North Federal Highway, Suite 200, Ft. Lauderdale, FL 33306; 954-568-9015, Fax 954-568-9597; Email: steve@rotellagroup.com; Web site: www.rotellagroup.com. (continued on page twenty)
page 18
November 26, 2010
The
Dealmakers
www.dealmakers.net
Buyers and Sellers (continued from page eighteen)
Byrne Co. is selling a 42,689 sq.ft. parcel located at the intersection of Country Club Road and Brown Street in Wylie, TX. The site is tenanted by 7-Eleven, which is bound to an 18-year, 10-month lease featuring rent escalations every five years. The asking price is $1.813 million with a Cap rate of 6.5%. The company is also selling an adjacent 79,056 sq.ft. parcel. The asking price is $870,000. For more information, contact Sean M. Byrne, Byrne Co., 8525 Ferndale Road, Suite 100, Dallas, TX 75238; 214-343-6996; Email: sean@byrnecompany.com.
Net Leased Investment Co. is selling a 10,722 sq.ft. freestanding Rite Aid situated on 1.41 acres along Warwick Boulevard in Newport News, VA. The tenant is bound to a 25-year NN lease set to expire during February 2021 featuring four, five-year options with rent escalations of $0.50 psf at each option. The average daily traffic count is 34,000 vehicles. The asking price is $1.957 million with a Cap rate of 9%. For more information, contact Bob Fraser or Scott Austin, Net Leased Investment Co., 625 Glenfield Way, West Palm Beach, FL 33411; 561-629-5831, Fax 561-290-1129; Email: bobfraser@netleased.com.
Faris Lee Investments is selling a 14,841 sq.ft. Marketside by Walmart situated on a land area of 89,986 sq.ft. at the intersection of West Elliot Road and Cooper Road in Gilbert, AZ. The tenant is bound to a 12-year NNN lease set to expire during May 2020 featuring 10, five-year options. Trade-area demographics include a population earning $77,000 as the median household income. The NOI is $342,519. The asking price is $4.89 million with a Cap rate of 7%. For more information, contact David A. Wetta or Joseph R. Compagno, Faris Lee Investments, 7135 East Camelback Road, Suite 230, Scottsdale, AZ 85251; 480-5536394/6395; Emails: dwetta@farislee.com and jcompagno@farislee.com; Web site: www.farislee.com. Coldwell Banker Commercial|Lyle & Associates is selling a 33,862 sq.ft. former Circuit City expandable to 45,000 sq.ft. situated on 3.61 acres along Highway 111 in La Quinta, CA. Area retail includes Target, Lowe’s Home Improvement, Trader Joe’s, Lumpy’s Golf, Office Depot and Cost Plus World Market. For more information, contact Curtis Barlow, Coldwell Banker Commercial|Lyle & Associates, 78-000 Fred Waring Drive, Suite 200, Palm Desert, CA 92211; 760-772-6400 Ext. 231; Web site: www.cbclyle.com.
Experience. Strength. Stability. For more than 20 years, Cullinan Properties, Ltd. has been the premiere provider of commercial and mixed-use real estate services. We’ve built our reputation while building relationships. As the market has changed, we’ve adapted but our commitment to excellence remains the same. Streets of St. Charles | metro St. Louis, MO
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Newmark Knight Frank|Cornish & Carey Commercial is selling a Walgreens located along Highway 32/Newville Road in Orland, CA. The tenant is bound to a 25-year NNN lease. The asking price is $7.664 million with a Cap rate of 6.85%. 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. GDC/RE is selling an 11,100 sq.ft. Family Dollar situated on one acre along North Coronado Boulevard in Clifton, AZ. The tenant is bound to a NN lease set to expire during December 2018 featuring four, five-year options and 10% rent escalations at each option. The NOI is $88,000. The asking price is $941,500 with a Cap rate of 9.35%. For more information, contact James Neal, GDC/RE, 2929 East Camelback Road, Suite 113, Phoenix, AZ 85016; 602-368-3555 Ext. 102; Email: james@gdcre.com; Web site: www.gdcre.com. (continued on page twenty-five)
page 20
November 26, 2010
The
Dealmakers
www.dealmakers.net
Opportunities! Prime Prime Leasing Leasing Oppor Opportunities! tunities!
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Exclusives and Leasing Assignments
Buyers and Sellers (continued from page twenty)
Marcus & Millichap is selling a 6,800 sq.ft. center located along East Tyler Street in Athens, TX. Hibbett Sports and Federal Cash Advance tenant the center. Hibbett Sports is bound to a 10-year, NNN lease featuring two, five-year options with rent escalations at each option, and Federal Cash Advance is bound to a five-year, NNN lease featuring two, five-year options with rent escalations at each option. The asking price is $972,000 with a Cap rate of 9.5%. The company also negotiated the sale of a pad site tenanted by McDonald’s, M&T Bank and Panda Express at The Centre at Golden Ring, located along Petrie Way in Baltimore, MD. At the time of sale, the tenants were bound to leases with between eight and 12 years remaining on the lease terms featuring rent escalations. A private entity acquired the property for $4.5 million. The company represented the buyer in the transaction. For more information regarding the Athens property, contact Gino Lollio, Marcus & Millichap, 333 West Wacker Drive, Suite 200, Chicago, IL 60606; 312-327-5480; Email: gino.lollio@marcusmillichap.com; Web site: www.marcusmillichap.com. For more information regarding the Baltimore property, contact Spencer Yablon; 215-531-7000. CASE Commercial Real Estate Partners is selling a 65.16-acre parcel located along North Main Street in Boerne, TX. The asking price is $2.25 psf. For more information, contact Steve Hall or Andrew Price, CASE Commercial Real Estate Partners, 8610 North New Braunfels Avenue, Suite 602, San Antonio, TX 78217; 210-298-2020; Emails: shall@casecre.com and aprice@casecre.com. Edgemark Commercial Real Estate Services, LLC negotiated the sale of Savannah Crossings, a 7,400 sq.ft. center located along Kirk Road in Aurora, IL. At the time of sale, the center was 100% leased with tenants including Starbucks and GameStop. For more information, contact Jeffrey J. Kowal, Edgemark Commercial Real Estate Services, LLC; 2215 York Road, Suite 503, Oak Brook, IL 60523; 630-572-5611; jkowal@edgemarkllc.com. Walter Pratt Real Estate is selling a strip center located in Montgomery, AL. Dollar General anchors the center. The asking price is $1.07 million with a Cap rate of 13%. For more information, contact Walter Pratt, Walter Pratt Real Estate, 510 Higby Road, New Hartford, NY 13413; 315-792-7782, Fax 315-223-9261; Email: waltgp@adelphia.net.
Calkain Cos. is selling Sycolin Corner, a 13,885 sq.ft. center located in Leesburg, VA. Tenants at the center include Kiddie Academy, Hunan Café and VIP Nails Salon & Spa. Kiddie Academy is bound to a 15-year lease featuring two, five-year options and 3% rent escalations every year starting in the third year, Hunan Café is bound to a 10-year lease featuring a five-year option and 3% rent escalations through the 10th year, and VIP Nails Salon & Spa is bound to a 10-year lease featuring a five-year option and 3% rent escalations through the 10th year. The asking price is $5.506 million with a Cap rate of 7.9%. The company is also selling a 9,000 sq.ft. center situated on 0.97 acres along Carl Silver Boulevard in Fredericksburg, VA. Tenants at the center include Panera Bread and Sprint. The tenants are bound to NNN leases set to expire during August 2018. The NOI is $259,940. The asking price is $4.332 million. For more information, contact Jeff Bogart, Calkain Cos.; 703-787-0687; Email: jbogart@calkain.com; Web site: www.calkain.com. Westwood Net Lease Advisors is selling a 4,136 sq.ft. Hardee’s situated on 1.45 acres along Pendleton Pike in Indianapolis, IN. The tenant is bound to a NNN corporate ground lease with 14 years remaining on the lease term. The average daily traffic count is 40,000 vehicles. The NOI is $74,419. The asking price is $960,257 with a Cap rate of 7.75%. For more information, contact Chris Schellin, Westwood Net Lease Advisors; 314-997-5227 Ext. 104; Email: cschellin@westwoodnetlease.com. Henzlik-Oliver Real Estate Cos., LLC acquired an 89,807 sq.ft. Academy Sports & Outdoors located along Research Boulevard in Austin, TX. The company acquired the property for $9.4 million. For more information, contact Tyler S. Oliver or Douglas L. Henzlik, HenzlikOliver Real Estate Cos., LLC, 13356 Metcalf, Overland Park, KS 66213; 913438-9900, Fax 913-438-9994; Web site: www.henzlikoliver.com. Adelphia Properties is looking to acquire Walgreens and CVS properties. Suitable properties are bound to NNN leases with at least 15 to 20 years remaining on the initial lease term and are priced below $3 million with a Cap rate above 6.75%. The company will also consider ground leases. For more information, contact George Spirrison, Adelphia Properties; 630-4554495; Email: spirrison1@gmail.com. DM
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Breslin Realty (516-741-7400) has been named the exclusive leasing agent for the following properties throughout NY: a 1.25acre parcel located along Louden Avenue in Amityville; a 5,500 sq.ft. space located along Northern Boulevard in Manhasset; a 12,127 sq.ft. freestanding mixed-use building located along Sunrise Highway in Massapequa; a development located at the intersection of Route 112 and Horseblock Road in Medford, NY, featuring Walgreens, Lowe’s Home Improvement, Target and Sam’s Club; a center located along Route 347/Route 25 in Lake Grove, featuring 6th Avenue Electronics, with spaces available from 2,400 sq.ft. to 17,000 sq.ft.; a one-acre parcel located along Front Street in East Meadow available for ground lease; a 5,700 sq.ft. space located along West First Street and a 3,700 sq.ft. freestanding building located along Deer Park Avenue in Deer Park; Shoppes at Sun Lakes, located along Sunrise Highway in Holbrook, featuring Stop & Shop and Jo-Ann Fabrics, with a 27,000 sq.ft. space available; Sun Vet Mall, located along Sunrise Highway in Holbrook, featuring Pathmark, A.C. Moore, Toys “R” Us, Mandee and Tuesday Morning, with spaces available from 550 sq.ft. to 3,500 sq.ft.; South Bay Commons, located along Sunrise Highway in West Islip, featuring Bob’s Stores and Chuck E. Cheese’s, with spaces available from 12,000 sq.ft. to 17,800 sq.ft., and a two-story building located at the intersection of Commack Road and Jericho Turnpike in Commack, with a 3,400 sq.ft. space available. The company is also the exclusive leasing agent for Big Y Plaza, located in Bethel, CT, featuring Big Y Supermarket, Snap Fitness, Weight Watchers, New Balance Shoes and Starbucks. Royal Properties, Inc. (914-237-3403) represents Lime Fresh Mexican Grill with the restaurant’s expansion throughout NY. The chain is seeking spaces of 2,400 sq.ft. to 3,200 sq.ft. in freestanding locations and endcaps of entertainment, outlet, power, specialty and strip centers, as well as urban/ downtown and tourist areas. A patio space of 400 sq.ft. to 800 sq.ft. is required. Suburban Real Estate Services, Inc. (630778-1800) has been named the exclusive leasing and management agent for Freedom Commons, a 160,000 sq.ft. multi-building retail project located at the intersection of Freedom Drive and Diehl Road in Naperville, IL. Cotenants include Maggiano’s, Morton’s The Steakhouse, The White Chocolate Grill D and LA Fitness. M
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Home-Related Chains Expand Nationwide (continued from page one)
Wolf Furniture Enterprises, Inc. trades as Wolf Furniture and Wolf’s Clearance Center at 10 locations throughout MD and PA. The home furnishings stores occupy spaces of 40,000 sq.ft. to 65,000 sq.ft. in freestanding locations and power centers. Limited growth opportunities are sought throughout the existing markets during the coming 18 months. Typical leases run 20 to 25 years. A vanilla shell and specific improvements are required. Preferred cotenants include Home Depot, Target and Lowe’s Home Improvement. A land area of four to six acres is required for freestanding locations. For more information, contact Doug Wolf or Chuck McLaughlin, Wolf Furniture Enterprises, Inc., 1620 North Tuckahoe Street, Bellwood, PA 16617; 814-7424380, Fax 814-742-4389; Web site: www.wolffurniture.com. Grimes Ace Hardware Co., Inc. trades as Handyman Ace Hardware at eight locations throughout OH. The home improvement stores occupy spaces of 12,000 sq.ft. to 17,000 sq.ft. in freestanding locations and strip centers. Plans call for one to two openings within 50 miles of Dayton, OH
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during the coming 18 months. Typical leases run five years with options. A tenant improvement allowance or vanilla shell is required. Preferred cotenants include drug and grocery stores. Major competitors include Home Depot and Lowe’s Home Improvement. The company requires sites with an outdoor storage area. For more information, contact David Grimes, Grimes Ace Hardware Co., Inc., 11 North Grand Avenue, Fairborn, OH 45324; 937-879-0141, Fax 937-879-1177. Mitchell Gold + Bob Williams operates 14 locations nationwide. The stores, offering upscale modern furniture, occupy spaces of 7,500 sq.ft. to 12,500 sq.ft. in freestanding locations and lifestyle centers. Growth opportunities are sought throughout the New York, NY metropolitan area; Los Angeles, CA; Boston, MA; Dallas, TX and Seattle, WA during the coming 18 months, with representation by Robert K. Futterman & Associates. For more information, contact Robert Draizen, Robert K. Futterman & Associates, 521 Fifth Avenue, 7th Floor, New York, NY 10175; 212-331-0124, Fax 212-599-3744; Email: rd@rkf.com; Web site: www.rkf.com.
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The Sherwin Williams Co. (Eastern Division) trades as Sherwin-Williams at 3,350 locations nationwide and throughout Canada. The stores, offering paint and related products, occupy spaces of 5,000 sq.ft. in freestanding locations, strip centers and downtown areas. Growth opportunities are sought throughout CT, MA, ME, NH, NJ, NY, PA, RI, VT and WV, as well as Canada, during the coming 18 months. Typical leases run five years with options. For more information, contact Bill Siehl, The Sherwin Williams Co. (Eastern Division), 313 Technology Drive, Malvern, PA 19355; 610-647-9115 Ext. 145, Fax 610-640-2960 D Web site: www.sherwin-williams.com. M
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Real Estate Professionals Making the News Tradd Commercial (843-839-9777) hired Jim Bunting as a member of the company’s retail team. He will specialize in the sale and leasing of restaurants. The company offers commercial real estate brokerage, asset management and advisory services throughout NC and SC. SAF Investments (602-321-2973) hired Chris Vining as director of leasing and acquisitions. He specializes in landlord and tenant representation and property management for the greater Phoenix and Tucson, AZ areas. Prior to joining the company, he served as senior leasing associate at Commercial Alliance Partners, LLC. The company is a full-service real estate brokerage and investment firm.
Retail Op p o r t u n i t i e s
Recreational Equipment, Inc. (253-437-7736) hired Mark K. Comstock as vice president, real estate and store development. He will be responsible for acquisition and development of new stores, as well as management of the company’s real estate portfolio. Prior to joining the company, he served as vice president, real estate and facilities for T-Mobile. The company, trading as REI, operates 113 stores, offering outdoor gear and recreational equipment, nationwide. Peregrine Realty Partners (213-236-3309) hired Christopher P. Brooks as director. He will be responsible for growing the company’s real estate valuation business and will also assist with property acquisition, debt placement and advisory services. Prior to joining the company, he served as an appraiser in the Assessor’s office of Los Angeles County, CA. illi Commercial Real Estate (818-501-2212) hired Valerie Camacho as division manager for Santa Clarita, CA. Prior to joining the company, she served as vice president at NAI Capital Real Estate Services LA North. Windermere Real Estate hired John Mitzel. He investment, redevelopment, disposition of retail, office, industrial properties.
(360-671-5000) specializes in acquisition and hospitality and
NAI Friedland (914-968-8500) promoted Anthony Lembeck from chief operating officer to chief executive officer. The company also hired Jay Olshonsky as chief operating officer. Prior to joining the company, Olshonsky served as managing director and senior vice president at CB Richard Ellis in Washington, DC. The company is a fullservice commercial real estate firm serving the New York, NY metropolitan area. DM
to make your Mark in Bowie Median Household Income over $94,532 Average Household Income over $109,161 Bowie is one of the largest cities in Maryland. Bowie is also an excellent business location, easily accessed from Washington D.C., Annapolis and Baltimore. Bowie’s proximity to these major cities brings business and workforce into the area via Routes 3, 50 and 301. Bowie has more than 90 restaurants, 200 shops, and a dozen recreation opportunities. With this winning combination of location, access and amenities your business is certain to grow and succeed. For space available details call: Bowie Plaza, Brian Greene, 703-442-4300
Main Street Market, Sam Pan, 301-657-7352
Collington Plaza, Andrew Rose, 703-442-4500 x26
Pointer Ridge Plaza, Will Collins, 571-382-1290
Hilltop Plaza – Newly Renovated! Bruce I. Levine, 410-486-0800 x216
Free State, Rich Abruscato, 301-998-8188
For more information on ALL of Bowie’s Opportunities, contact:
John Henry King, Economic Development Director, City of Bowie, Maryland 2614 Kenhill Drive, Bowie, MD 20715 301.809.3042 | fax 301.809.2315 | jhking@cityofbowie.org
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Lease Signings Centro Properties Group (212-869-3000) signed the following leases with Halloween City: for 9,694 sq.ft. at Rose Pavilion, located along Rosewood Drive in Pleasanton, CA; for 24,050 sq.ft. at Lompoc Shopping Center, located at the intersection of North H Street and Pine Avenue in Lompoc, CA; for 26,678 sq.ft. at Westminster City Center, located along North Sheridan Boulevard in Westminster, CO; for 35,080 sq.ft. at Park Shore Shopping Center, located along Tamiami Trail North in Naples, FL; for 10,000 sq.ft. at Conyers Crossroads, located along Dogwood Drive in Conyers, GA; for 10,250 sq.ft. at Annex of Arlington, located along West Rand Road in Arlington Heights, IL; for 28,351 sq.ft. at Heritage Square, located along South State Route 59 in Naperville, IL; for 18,483 sq.ft. at Elkhart Market Centre, located along Elkhart Road/U.S. Highway 33 in Goshen, IN; for 10,895 sq.ft. at Florence Square, located along Mall Road in Florence, KY; for 12,000 sq.ft. at Maple Village, located along North Maple Road in Ann Arbor, MI; for 7,500 sq.ft. at Silver Pointe Shopping Center, located at the intersection of Silver Parkway and Owen Road in Fenton, MI; for 12,544 sq.ft. at Galleria Commons, located along North Stephanie Street in Henderson, NV; for 7,500 sq.ft. at Falcaro’s Plaza, located along Burnside Avenue in Lawrence, NY; for 7,789 sq.ft. at Nesconset Shopping Center, located along Nesconset Highway in Port Jefferson Station, NY; for 26,795 sq.ft. at Wallkill Plaza, located at the intersection of Route 211 East and Carpenter Avenue in Middletown, NY; for 30,895 sq.ft. at College Plaza, located along Middle Country Road in Selden, NY; for 45,894 sq.ft. at Pyramid Mall, located along Canandaigua Road in Geneva, NY; for 9,949 sq.ft. at Brice Park, located along Brice Road in Reynoldsburg, OH; for 32,524 sq.ft. at Midway Market Square, located along West River Road in Elyria, OH, and for 22,950 sq.ft. at Five Points, located along Highway 77 in Corpus Christi, TX.
End Of Year Discount
Prices
Reduced 30% Discount pricing applies to contracts signed by 12/31/10
Start The New Year Off With Lots Of Leasing Leads
(714) 374-0222 www.tenantsbymail.com
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Lakritz-Weber & Co. (248-353-9494) negotiated the following leases throughout MI: with Jimmy John’s for 1,400 sq.ft. at Caswell Town Center, located at the intersection of Rochester Road and South Boulevard in Troy, and with Wireless Zone for 1,750 sq.ft. at St. Clair Plaza, located along South Carney Drive in St. Clair. Konover South, LLC (954-354-8282) negotiated lease extensions with Miami Barber Shop for 1,155 sq.ft. and with Tobacco Breeze for 1,050 sq.ft. at South Kendall Square, a 110,000 sq.ft. center located at the intersection of Southwest 120th Street and Southwest 127th Avenue in Miami, FL. The center is anchored by ABC Fine Wine & Spirits, Bonefish Grill and Walgreens and cotenants include ABC Dance Studio, Bank of America, BB&T Bank, Big Frog Custom T-Shirts, Capry French Dry Cleaners, Chase Bank, Cold Stone Creamery, EB Games, Happy Hippo Daycare, KFC/ Long John Silver’s, Outland Station, Sir Pizza and Starbucks. The company also negotiated leases with Zhang Garden Chinese restaurant for 1,400 sq.ft.; with Miyako Japanese Steakhouse for 3,500 sq.ft. and with Ace Hardware for 10,000 sq.ft. at Park View Commons, a 92,600 sq.ft. retail center located at the intersection of Maricamp Road/ State Route 464 and Southeast 24th Street in Ocala, FL. The center is anchored by Publix. Breslin Realty (516-741-7400) negotiated the following leases for space throughout NY: with OshKosh B’Gosh and Carters in Carle Place; with HomeGoods in Bay Shore; with Metro PCS in Coram; with Red Mango in Manhasset, Staten Island, Fresh Meadows, Rego Park, Merrick, Stonybrook, Smithtown and Huntington; with Trader Joe’s in Lake Grove; with Pet Supplies Plus in Lake Ronkonkoma, and with Verizon Wireless in East Setauket and Islip Terrace.
McClinton & Co., Inc. (334-270-9653) negotiated leases with Southern Bullion Coin and Jewelry for 1,568 sq.ft. and with The Next for 5,600 sq.ft. at Premiere Place, a 385,650 sq.ft. center located at the intersection of Cobbs Ford Road and McQueen Smith Road in Prattville, AL. The company also negotiated a lease with Southern Bullion Coin and Jewelry for 1,700 sq.ft. at Decatur Commons, located in Decatur, AL.
NAI Friedland (914-968-8500) negotiated the following leases throughout NY: with Dunkin’ Donuts for 1,500 sq.ft. along Main Street in Mt. Kisco; with Salsa Fresca for 1,600 sq.ft. along North Bedford Road in Bedford Hills; with Amalgamated Bank for 3,000 sq.ft. along White Plains Road in Bronx, and with Allison’s on Fifth, Inc. for 3,000 sq.ft. along Fifth Avenue in New York.
Renaud Consulting (703-404-2346) negotiated a lease with Dollar General for 8,450 sq.ft. at The Shops at Lee’s Hill, located along Spotsylvania Avenue in Fredericksburg, VA.
Win Ridge Realty, LLC (914-468-7300) negotiated a lease with Chop’t Creative Salad Co. for space at Rye Ridge Shopping Center, located at the intersection of Ridge Street and Bowman Avenue in Rye Brook, NY. DM
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Lead Sheet Claire’s Stores, Inc. dba Claire’s, Icing by Claire’s and Icing Jennifer Nelson 2400 West Central Road Hoffman Estates, IL 60192 847-765-1100, Fax 847-765-4618 Web site: www.claires.com
Accessories The 2,954-unit chain operates locations nationwide and internationally. The stores, offering jewelry and related accessories, occupy spaces of 1,000 sq.ft. to 1,600 sq.ft. in malls and lifestyle, outlet and power centers. Plans call for 10 to 12 openings nationwide during the coming 18 months. Typical leases run seven years.
Jiffy Lube International, Inc. dba Jiffy Lube (Franchises) Tom Lane PO Box 4427 Houston, TX 77210-4427 713-546-6447, Fax 713-546-3656 Email: thomas.lane@shell.com Web site: www.jiffylube.com
Automotive The 2,000-unit chain operates locations nationwide. The automotive service centers occupy spaces of 1,900 sq.ft. to 2,400 sq.ft. in freestanding locations and power centers. Growth opportunities are sought throughout the existing market during the coming 18 months. Typical leases run 20 years with options. Specific improvements are required. Preferred cotenants include big box retailers and Target. Preferred demographics include a population of 50,000 within three miles earning $40,000 as the average household income. The company is franchising.
Lee Myles Auto Group dba Lee Myles Transmissions and Auto Care Sal Gargone PO Box 10 Reading, PA 19607 800-533-6953 Email: sal@leemyles.com Web site: www.leemyles.com
Automotive The 51-unit chain operates locations nationwide. The automotive service centers occupy spaces of 2,000 sq.ft. to 3,000 sq.ft. in freestanding locations. Growth opportunities are sought throughout the existing market during the coming 18 months. Typical leases run 15 years. Expansion is franchise-driven and the company requires second-generation spaces.
Oil Can Henry’s / OCH International, Inc. dba Oil Can Henry’s Robert Bailey 19150 Southwest 90th Avenue Tualatin, OR 97062 503-783-3888, Fax 503-783-3850 Web site: www.oilcanhenry.com
Automotive The 89-unit chain operates locations throughout AZ, CA, CO, ID, MN, OR and WA. The automotive service centers occupy spaces situated on a land area of 15,000 sq.ft. in freestanding locations, pad sites of malls and power centers and urban/downtown areas. Limited growth opportunities are sought throughout the existing markets during the coming 18 months. Typical leases run 15 years. Major competitors include Jiffy Lube.
The Pep Boys – Manny, Moe & Jack dba Pep Boys Chuck Larkin 3111 West Allegheny Avenue Philadelphia, PA 19132 215-430-9240, Fax 215-430-4684 Email: chuck_larkin@pepboys.com Web site: www.pepboys.com
Automotive The 600-unit chain operates locations nationwide and throughout Puerto Rico. The automotive service centers prefer to locate in second-generation spaces of 5,000 sq.ft. to 7,000 sq.ft. Growth opportunities are sought throughout the major metropolitan areas of southern CA; CT; central and southern FL; Chicago, IL; Boston, MA; southern NH; Philadelphia and Pittsburgh, PA and RI during the coming 18 months. The company prefers sites with six to 10 service bays.
Dandy Mini Marts, Inc. dba Dandy Mini Mart Randy Williams PO Box 207 Towanda, PA 18848 570-265-6673, Fax 570-888-7161
Convenience The 60-unit chain operates locations throughout NY and PA. The convenience stores occupy spaces of 2,500 sq.ft. to 3,000 sq.ft. in freestanding locations. Growth opportunities are sought throughout the existing markets during the coming 18 months.
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Lead Sheet Petr-All Petroleum Corp. dba Express Mart Convenience Stores Robbin Bresnahan 6567 Kinne Road Dewitt, NY 13214 315-446-0125, Fax 315-446-1355 Web site: www.expressmart.com
Convenience The 60-unit chain operates locations throughout NY. The convenience stores occupy spaces of 5,000 sq.ft. in freestanding locations. Growth opportunities are sought nationwide during the coming 18 months. The company is franchising.
Verizon Wireless David Landes c/o Royal Properties, Inc. 850 Bronx River Road Bronxville, NY 10708 914-237-3403, Fax 914-237-0196 Email: david@royalpropertiesinc.com Web site: www.royalpropertiesinc.com
Electronics The 2,000-unit chain operates locations nationwide. The stores, offering cellular phones and related services and accessories, occupy spaces of 3,000 sq.ft. to 5,000 sq.ft. in freestanding locations, malls and power and strip centers. Plans call for five to six openings throughout Bronx, Orange, Putnam, Rockland and Westchester counties in NY during the coming 18 months, with representation by Royal Properties, Inc. The company prefers to locate in high-traffic areas.
Dipson Theatres, Inc. dba Dipson Theatre Michael Clement 388 Evans Street Williamsville, NY 14221 716-626-9613, Fax 716-626-9614 Web site: www.dipsontheatres.com
Entertainment The 11-unit chain operates locations throughout NY and PA. The movie theaters occupy spaces of at least 25,000 sq.ft. in freestanding locations and strip centers. Growth opportunities are sought throughout the existing markets during the coming 18 months. The company will only consider second-generation spaces.
Hollywood Theaters Scott Hall 919 Southwest Taylor Street, Suite 800 Portland, OR 97205 503-221-7090 Web site: www.gohollywood.com
Entertainment The 49-unit chain operates locations nationwide and internationally. The movie theaters occupy spaces of 30,000 sq.ft. to 50,000 sq.ft. in freestanding locations, regional malls and lifestyle centers. Growth opportunities are sought nationwide during the coming 18 months. Preferred demographics include a trade-area population between 50,000 and 125,000.
Jared – The Galleria of Jewelry John Dennis c/o Corporate Realty Advisors 92 High Street, Suite 1 Medford, MA 02155 781-396-5400, Fax 781-396-0888 Email: jd@cra-boston.com Web site: www.jared.com
Jewelry The 170-unit chain operates locations nationwide. The jewelry stores occupy spaces of 5,900 sq.ft. in freestanding locations. Growth opportunities are sought throughout New England during the coming 18 months, with representation by Corporate Realty Advisors. The company prefers sites in affluent retail trade areas near super-regional malls.
Pet Supplies Plus Beth Lamport c/o Breslin Realty Development Corp. 500 Old Country Road, Suite 200 Garden City, NY 11530 516-741-7400 Ext. 248, Fax 516-741-5621 Email: blamport@breslinrealty.com Web site: www.breslinrealty.com
Pet Supplies The 240-unit chain operates locations nationwide throughout 22 states. The pet supply stores occupy spaces above 8,000 sq.ft. in freestanding locations and power and strip centers. Growth opportunities are sought throughout the New York, NY metropolitan area during the coming 18 months, with representation by Breslin Realty Development Corp. Typical leases run 10 years. A vanilla shell and specific improvements are required.
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Lead Sheet Nexcen Brands, Inc. dba Shoebox New York Penny Wickey, Daniel Neaton or Peter Yeskey c/o Saugatuck Commercial Real Estate, LLC 9 Burr Road Westport, CT 06880 203-222-4194/4188/4195 Emails: pwickey@saugatuckcommercial.com, dneaton@saugatuckcommercial.com and pyeskey@saugatuckcommercial.com Web site: www.shoeboxny.com
Shoes The 15-unit chain operates locations throughout FL and NY, as well as internationally. The stores, offering women’s footwear, handbags and accessories, occupy spaces of 1,000 sq.ft. to 1,500 sq.ft. in downtown areas and upscale street front locations. Growth opportunities are sought throughout the northeastern region of the U.S. during the coming 18 months, with representation by Saugatuck Commercial Real Estate, LLC. The company prefers to locate in affluent communities.
Phillips-Van Heusen Corp. dba Bass Factory Outlet Stores Dan Cochran PO Box 6960 Bridgewater, NJ 08807 908-685-0050, Fax 908-704-1127 Web site: www.pvh.com
Shoes The 200-unit chain operates locations nationwide. The stores, offering shoes for men and women, occupy spaces of 3,000 sq.ft. to 6,500 sq.ft. in outlet centers. Growth opportunities are sought throughout the existing market during the coming 18 months.
Weyco Group, Inc. dba Florsheim Tim Then 333 West Estabrook Boulevard Glendale, WI 53212 414-908-1600, Fax 414-908-1601
Shoes The 36-unit chain operates locations nationwide. The stores, offering men’s shoes and leather accessories, occupy spaces of 1,250 sq.ft. to 1,500 sq.ft. in malls and 2,000 sq.ft. to 2,500 sq.ft. in outlet centers. Limited growth opportunities are sought nationwide during the coming 18 months. Typical leases run 10 years. Preferred cotenants include upscale retailers. Major competitors include Johnson & Murphy. The company is site-selective and is also considering pop-up locations for terms of 12 to 24 months.
Cartridge World Jeff McMullen c/o Richard Bowers & Co. 260 Peachtree Street, Suite 2400 Atlanta, GA 30303 404-816-1600, Fax 404-880-0077 Email: jmcmullen@richardbowers.com Web site: www.richardbowers.com
Specialty The 600-unit chain operates locations nationwide. The stores, offering printer cartridges and related accessories, occupy spaces of 600 sq.ft. to 1,200 sq.ft. in lifestyle, power and strip centers. Plans call for four to six openings from GA to eastern TN during the coming 18 months, with representation by Richard Bowers & Co. Typical leases run five years with five-year options. A vanilla shell and specific improvements are required. Preferred cotenants include Kroger, Publix and Target. Preferred demographics include a population of 30,000 within three miles earning $60,000 as the average household income. Major competitors include OfficeMax, Office Depot and Staples. The company is franchising.
Campbell Soup Co. dba Pepperidge Farm Bart Delaney c/o Pepperidge Farm, Inc. 595 Westport Avenue Norwalk, CT 06851 203-846-7000, Fax 203-846-8274
Specialty The 85-unit chain operates locations east of the Mississippi River. The stores, offering prepackaged breakfast, crackers and dessert items, as well as fresh and frozen breads, occupy spaces of 1,200 sq.ft. to 1,600 sq.ft. in outlet, power, strip, tourist and value centers. Limited growth opportunities are sought throughout the existing market during the coming 18 months. Typical leases run five years. A vanilla shell and specific improvements are required. Preferred demographics include a population of 250,000 within three miles earning $50,000 as the average household income. The company is site-selective.
EZCORP, Inc. dba EZPAWN, EZ Money Loan Services, EZ Money Payday Loans, EZ Loan Services, EZ Payday Advance, Value Pawn and Empeno Facil James Rose or Barbara Lampley 2801 Via Fortuna, Suite 460 Austin, TX 78746 512-314-3400, Fax 512-314-2253 Emails: james_rose@ezcorp.com and barbara_lampley@ezcorp.com Web site: www.ezcorp.com
Specialty The 1,000-unit chain operates locations throughout AL, AR, CO, FL, GA, ID, IN, KS, LA, MO, MS, NE, NV, OK, SD, TN, TX, UT and WI, as well as Canada and Mexico. The financial service centers occupy spaces of 1,000 sq.ft. to 8,000 sq.ft. in freestanding locations and strip and value centers. Growth opportunities are sought throughout FL, GA and IL, as well as Canada and Mexico, during the coming 18 months. Typical leases run three to five years with options. A vanilla box is required. Preferred cotenants include drug, grocery and hardware stores and Walmart.
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Lead Sheet Massage Envy Jayson Siano c/o CB Richard Ellis 88 Froehlich Farm Boulevard Woodbury, NY 11797 516-714-2712, Fax 516-364-6943 Email: jayson.siano@cbre.com Web site: www.cbre.com
Specialty The 828-unit chain operates locations nationwide throughout 42 states. The massage centers occupy spaces of 2,500 sq.ft. to 4,000 sq.ft. in power and strip centers. Growth opportunities are sought throughout NY during the coming 18 months, with representation by CB Richard Ellis. Typical leases run 10 years. Preferred demographics include a trade-area population earning $75,000 as the median household income. Major competitors include Hand & Stone. The company is franchising.
Hibbett Sporting Goods Robby Compton 318-362-4045 Email: robby.compton@hibbett.com
Sporting Goods The company operates locations throughout AL, AR, AZ, FL, GA, IA, IL, IN, KS, KY, LA, MO, MS, NC, NE, NM, OH, OK, SC, TN, TX, VA and WV. The sporting goods stores occupy spaces of 5,000 sq.ft. in inline spaces of shopping centers. Growth opportunities are sought throughout AR, LA and OK during the coming 18 months. Typical leases run 10 years with three, five-year options. Preferred cotenants include apparel, discount and big box apparel retailers. Preferred demographics include a population of 20,000 within five miles.
Modells Sporting Goods Douglas Epstein 498 Seventh Avenue, 20th Floor New York, NY 10018 212-822-1000, Fax 212-822-1090 Email: dougepstein@msgmail.com Web site: www.modells.com
Sporting Goods The 146-unit chain operates locations throughout the mid-Atlantic and northeastern regions of the U.S. The sporting goods stores occupy spaces of 7,500 sq.ft. to 10,000 sq.ft. in power centers and 15,000 sq.ft. to 20,000 sq.ft. in big box locations. Growth opportunities are sought throughout the Boston, MA; New York, NY; Philadelphia, PA and Washington, DC metropolitan areas during the coming 18 months. Typical leases run 15 years with three, five-year options.
Olympia Sport Center Andrew Shedlin c/o The Andrew Shedlin Cos., Inc. 21275 Eleanor Lane Kildeer, IL 60047 847-438-2900, Fax 847-438-2966 Email: a.shedlin@comcast.net
Sporting Goods The 180-unit chain operates locations throughout CT, MA, ME, NH, NY, PA, RI and VT. The sporting goods stores occupy spaces of 3,500 sq.ft. to 5,000 sq.ft. in malls and lifestyle, power and strip centers. Limited growth opportunities are sought throughout the existing markets during the coming 18 months. Preferred cotenants include big box fashion retailers and grocery stores.
Calendar Holdings, LLC dba Calendar Club Lori Lesko 6411 Burleson Road Austin, TX 78744 512-386-7220, Fax 512-369-6192 Web site: www.calendarclub.com
Temporary Tenant The 900-unit chain operates locations nationwide. The stores, offering calendars and related items, prefer to occupy spaces of 140 sq.ft. to 3,000 sq.ft. in kiosks of malls and inline spaces of lifestyle and outlet centers. Growth opportunities are sought throughout the existing market during the coming 18 months. Typical leases run six months. A vanilla shell is required.
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 34
November 26, 2010
The
Dealmakers
www.dealmakers.net
Visit us at ICSC New York, Hilton Hotel
Suite Nassau A Rhinelander Gallery
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
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Scottsdale – Scottsdale Quarter, a 1.2-million sq.ft. open-air mixed-use center situated on 28 acres, has space available. Cotenants include Armani AX, Deegie’s Carma, Dominick’s Steakhouse, Giggle, Grimaldi’s, IPic Theater, Isaac’s Jewelers, lululemon athletica, Narcisse, Nike, Parc Central, Stingray Sushi, True Food Kitchen, Apple, Brio, H&M, Oakville Grocery, West Elm and Williams-Sonoma Home. Area demographics include a population of 1.526 million within 15 miles earning $100,092 as the average household income. For details, contact Ward A. Kampf, Glimcher Realty Trust, 180 East Broad Street, Columbus, OH 43215; 614-621-9000; Web site: www.glimcher.com.
is $1 psf with NNN fees of $0.18 psf. Also, a center located at the intersection of Perris Boulevard and Alessandro Boulevard has a 25,000 sq.ft. space available. The asking monthly rent is $1.08 psf with NNN fees of $0.29 psf. Northridge – Northridge Fashion Center, located at the intersection of Tampa Avenue and Nordhoff Street, has a 61,604 sq.ft. space available. For details, contact Carol Springstead, Springstead & Associates, 20320 Southwest Birch Street, Suite 120, Newport Beach, CA 92660; 949797-9040, Fax 949-797-9041; Email: cspringstead@springstead-associates.com; Web site: www.springstead-associates.com.
Associates Temecula Valley, 25240 Hancock Avenue, Suite 100, Murrieta, CA 92562; 951-445-4515/4512/4519; Emails: bbielatowicz@lee-associates.com, trivenbark@lee-associates.com and jirion@lee-associates.com; Web site: www.lee-associates.com.
California Anaheim – A center located at the intersection of Beach Boulevard and Lincoln Avenue has a 60,000 sq.ft. space available. Lowe’s Home Improvement and Winco Foods anchor the center. Azusa – A mixed-use center located at the intersection of Alosta Avenue and Foothill Boulevard has spaces available from 1,200 sq.ft. to 6,300 sq.ft. The asking monthly rent is $2 psf NNN. Brea – Brea Mall has a 19,545 sq.ft. space available. Macy’s, Sears and Nordstrom anchor the center. Chino Hills – A 133,000 sq.ft. former Great Indoors located at the intersection of Peyton Drive and 71 Freeway is available. Garden Grove – Garden Grove Promenade, located at the intersection of Chapman Avenue and Brookhurst Street, has a 14,825 sq.ft. space available. The asking monthly rent is $1.25 psf with NNN fees of $0.24 psf. Also, Euclid Street Center, located at the intersection of Century Avenue and Euclid Street, has a 1,500 sq.ft. space available. The asking monthly rent is $1.75 psf with NNN fees of $0.44 psf. Lakewood – An 80,248 sq.ft. former Albertsons located at the intersection of South Street and Downey Avenue is available. The asking monthly rent is $1.63 psf with NNN fees of $0.32 psf. Los Angeles – A 17,910 sq.ft. former Smart & Final located at the intersection of Olympic Boulevard and Gerhart Avenue is available. Area retail includes Citadel Outlets. The asking monthly rent is $1.08 psf with NNN fees of $0.11 psf. Also, a center located at the intersection of Rodeo Road and La Brea Avenue has a 27,125 sq.ft. space available. The asking monthly rent is $1.25 psf NNN. Moreno Valley – A 14,272 sq.ft. former Smart & Final located at the intersection of Cactus Avenue and Veterans Way is available. The asking monthly rent page 36
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Corona – A shopping center has a 1,200 sq.ft. space available. 7-Eleven anchors the center. Riverside – Canyon Springs has a 1,200 sq.ft. space in a multi-tenant pad site available. Area retail includes Target and Moreno Valley Mall. For details, contact Sharon Courtway, Present Value Properties, Inc.; 714-4643109; Email: sharon@pvpinc.com. San Jacinto – Sanderson Crossroads, a 140,000 sq.ft. center located at the intersection of Sanderson Avenue and Cottonwood Avenue, has two pad sites available for ground lease or build-to-suit. Cotenants include CVS. Area demographics include a population of 115,997 within five miles earning $45,400 as the average household income. The average daily traffic count is 29,734 vehicles. For details, contact Geoffrey C. Fults or William M. Shuman, KZ DevCo, LP, 18818 Teller Avenue, Suite 100, Irvine, CA 92612; 949-476-2700; Emails: gf@kzdevco.com and ws@kzdevco.com; Web site: www.kzdevco.com. Stockton – Park West Place, a 750,000 sq.ft. center located along Trinity Parkway, has a 22,000 sq.ft. junior anchor space available along with pad sites. Cotenants include Target, Kohl’s and Lowe’s Home Improvement. For details, contact Lisa Hodgson or Andy Hodgson, Colliers International – Stockton, 3439 Brookside Road, Suite 108, Stockton, CA 95219; 209-475-5111/5129; Web site: www.colliers.com. Temecula – Jefferson Plaza, located along Jefferson Avenue, has a 2,100 sq.ft. space available. Area demographics include a daytime population of 22,000 within one mile. For details, contact Brian Bielatowicz, Ted Rivenbark or Jake Irion, Lee & Dealmakers
www.dealmakers.net
Connecticut Darien – A 4,063 sq.ft. space located along Boston Post Road is available. Fairfield – A building located along Reef Road is available. New Canaan – Forest Center, located along Forest Street, has a 3,000 sq.ft. endcap space available. New London – Colman Square, a 40,000 sq.ft. mixed-use project situated on 4.25 acres along Colman Street, has space available. Newtown – Highland Plaza, a mixed-use center located along South Main Street, has space available along with a pad site with a drive-thru. Also, Shoppes at Newtown, located along Queen Street, has a 4,410 sq.ft. endcap space available. Norwalk – A center located along Westport Avenue has a 1,500 sq.ft. space available. Also, Walmart Center, located along Main Avenue/Route 7, has a 1,200 sq.ft. space available. Wilton – A divisible space of 3,683 sq.ft. located along Old Ridgefield Road is available. Also, spaces of 1,200 sq.ft.; 1,400 sq.ft.; 2,270 sq.ft. and 4,300 sq.ft. located along Route 7/Danbury Road are available. Also, Town Green at Wilton Center, located along Old Ridgefield Road, has space available. For details, contact Penny Wickey, Daniel Neaton or Peter Yeskey, Saugatuck Commercial Real Estate, LLC, 9 Burr Road, Westport, CT 06880; 203-222-4194/4188/4195; Emails: pwickey@saugatuckcommercial.com, dneaton@saugatuckcommercial.com and pyeskey@saugatuckcommercial.com; Web site: www.saugatuckcommercial.com. West Haven – A shopping center has a 2,600 sq.ft. endcap space available. Krauszer’s Food Stores and Elm Diner & Restaurant anchor the center. The asking rent is $10 psf NNN. Also, a 1.5-acre parcel located along Route 1/Boston Post Road is available for ground lease or build-tosuit. Area retail includes ShopRite, CVS, Family Dollar, KFC, Dunkin’ Donuts and Dairy Queen. The asking annual rent is $120,000 NNN. For details, contact Steven J. Spector, Interstate Realty Advisors, Inc., 84 Broad Street, Milford, CT 06460; 203-283-3994, Fax 203-306-3222; Email: sjsrealestate11@aol.com; Web site: www.interstaterealtyady.com (continued on page thirty-eight)
Sources of Financing Marabella Commercial Finance provides financing for Walgreens and CVS properties. Loans are available featuring terms from 4.5% to 5.5% fixed for five years with a maximum loan-to-value ratio of 65% to 75% and from 5% to 5.5% fixed for 10 years with a maximum loan-to-value ratio of 65% to 75%. For more information, contact Christian S. Marabella, Marabella Commercial Finance, 7500 Circulo Sequoia, Carlsbad, CA 92009; 760-479-0800, Fax 760-479-0215; Email: nnn@marabellafinance.com; Web site: www.marabellafinance.com. BMC Capital provides financing for NNN, retail, office, industrial and self-storage properties. Loans are available from $500,000 to $1.5 million for terms of three, five and seven years at interest rates from 5.75% to 7.35% featuring a maximum loan-to-value ratio of 75% and a 25-year amortization schedule. Funding is also available from $1.5 million to above $10 million for terms of three, five or seven years with interest rates from 5.5% to 7% featuring a maximum loan-to-value ratio of 75% and a 25-year amortization schedule. For more information, contact Carl Esrey, BMC Capital, 3100 Monticello Avenue, Suite 400, Dallas, TX 75205; 214-526-7178, Fax 214526-2297; Email: cesrey@bmccapital.com; Web site: www.bmccapital.com. Helios Capital, LLC completed a nonperforming loan collateral transaction with a balance of $460,875 for an 11,000 sq.ft. retail property located in Upper Manhattan, NY. The company is a loan advisory firm specializing in non-performing commercial loan space with unpaid balances between $1 million and $25 million. For more information, contact Jonathan Horn or Josh Malka, Helios Capital, LLC, 900 Route 9 North, Suite 301, Woodbridge, NJ 07095; 732-362-8223/8243; Web site: www.helioscapitalllc.com. Glimcher Realty Trust received $70 million in financing from German American Capital Corp. for the acquisition of Scottsdale Quarter, a mixed-use project being developed in phases off of Scottsdale Road in Scottsdale, AZ, with tenants including H&M, WilliamsSonoma Home, Apple, Oakville Grocery and Brio Tuscan Grill. For more information, contact Glimcher Realty Trust, 180 East Broad Street, Columbus, OH 43215; 614-621-9000, Fax 614-621D 9321; Web site: www.glimcher.com. M
read this issue on your mobile phone at dlmkrs.com using the access code on the front cover www.dealmakers.net
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November 26, 2010
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Delaware (continued from page thirty-six)
Lewes – Village of 5 Points, located along North Village Main Boulevard, has spaces available from 2,000 sq.ft. to 6,000 sq.ft. Area demographics include a population of 27,325 within five miles earning $52,270 as the average household income. Newport – Plaza 41, located along Newport Gap Pike, has a 1,600 sq.ft. space available. Wilmington – Spaces from 669 sq.ft. located along North Market Street are available. Also, an 0.89-acre parcel located along Concord Pike is available. Area retail includes Pep
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Boys, Burger King, McDonald’s, Happy Harry’s, Five Below, Five Guys Famous Burgers and Fries, Wilmington Trust Bank, dressbarn, Sherwin-Williams, Grotto’s Pizza, IHOP, Acme and Cumberland Farms. Area demographics include a population of 185,785 within five miles earning $80,834 as the average household income. The average daily traffic count is 50,000 vehicles. Also, Apollo Shopping Center, located along Kirkwood Highway, has spaces available of 1,600 sq.ft.; 3,833 sq.ft. and 4,400 sq.ft. Area retail includes 7-Eleven, Panera Bread,
T-Mobile, Burger King, Ink Stop, Cricket and Liberty Travel. Area demographics include a population of 192,290 within five miles earning $75,479 as the average household income. The average daily traffic count is 40,000 vehicles. The asking rent is $20 psf. For details, contact Jim O’Hara, NAI Emory Hill; 302-322-9500, Fax 302-3229518; Email: jimohara@emoryhill.com; Web site: www.emoryhill.com.
VANICK PROPERTIES
381 Broadway, Westwood, NJ 07675 Tel: 201.666.7710 Fax: 201.666.7714 Nicholas J.Aynilian - President
Quality Commercial Properties Scranton Pittston
Pennsylvania
New York City Brookville Selinsgrove Hummels Wharf
Hazleton Bethlehem Pennsburg
New Stanton
Westwood Paramus Upper Montclair Hasbrouck Heights Middlesex
Reading
Hoboken Jersey City Bayonne Union Woodbridge Aberdeen New
Jersey
Mt. Holly Lumberton Manahawkin
National & Regional Clients Aaron’s Rentals, Ace Hardware, AIG Finance, American Fitness, Arby’s Bank of America, Beach Bum Tanning, Blockbuster Video, Capital One Bank Cold Stone Creamery, Dairy Queen, Dollar General, Dollar Tree, EyeDr.X , Family Dollar Fantastic Sams, Five Below, Furniture Warehouse, Fastenal, Flower Tent, GameStop Gap, Gertrude Hawke Chocolates, Giant Food, Gregory’s Furniture, Holiday Hair Jackson Hewitt, Keystone Novelties, KFC, Mattress Warehouse, Movie Gallery Nine West, OMG, PA Liquor Authority, Pathmark, Payless ShoesSource Planet Fitness, Planet Honda, Price Rite, Quakertown National Bank, Quest Diagnostics Quiznos, Redner’s Market, ReMax Realty, Rent-a-Center, Rite Aid, Save-A-Lot, Sleepy’s Social Security Administration, Spin Magazine, Starbucks, SuperPetz Subway, Super Cuts, Transit, U.S. Post Office, UPS Store, Weis Markets, YMCA info@vanickproperties.com page 38
November 26, 2010
www.@vanickproperties.com The
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www.dealmakers.net
Florida Cape Coral – Shops at Surfside, a 185,000 sq.ft. center situated on 21.75 acres at the intersection of Veterans Parkway and Surfside Boulevard, has space available. Cotenants include HomeGoods, Belk, Starbucks and Dollar Tree. Area demographics include a population of 107,743 within five miles earning $59,165 as the average household income. The average daily traffic count is 26,800 vehicles. Naples – Granada Shoppes, a 300,000 sq.ft. community shopping center situated on 39.23 acres at the intersection of Tamiami Trail North/U.S. Highway 41 and Immokalee Road, has spaces available of 1,495 sq.ft. to 92,443 sq.ft. Cotenants include Men’s Wearhouse, Marshalls, Haverty’s, H&R Block, GNC, Sally Beauty Supply, First Watch Restaurant, Pier 1 Imports, Starbucks, Supercuts, Walgreens, Sweet Tomatoes, P.F. Chang’s, Applebee’s, Borders, Sprint and Encore Bank. Area demographics include a population of 101,691 within five miles earning $102,045 as the average household income. The average daily traffic count is 99,978 vehicles. For details, contact Courtelis Co., 703 Waterford Way, Suite 800, Miami, FL 33126; 305-261-4330 or 888-859-1100, Fax 305261-4338; Web sites: www.courtelis.com and www.shopsatsurfside.com. Coconut Creek – Winston Park Plaza, a 16,500 sq.ft. center located at the intersection of Sawgrass Expressway and Lyons Road, has a 3,012 sq.ft. endcap space available. Publix shadow-anchors the center. Area retail includes The Vitamin Shoppe, LA Fitness and Quiznos. Pembroke Pines – A shopping center located along Pines Boulevard has an 8,000 sq.ft. junior anchor space expandable to 12,750 sq.ft. available. Cotenants include 24 Hour Fitness, Blockbuster Video and Chuck E. Cheese’s. St. Lucie West – Village Shoppes at St. Lucie West, a 25,000 sq.ft. center located along St. Lucie West Boulevard, has a 3,870 sq.ft. restaurant space available. Cotenants include EB Games, Sprint and Red Ginger Asian Bistro. Area demographics include a
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population of 78,000 within five miles. For details, contact Ross Realty Investments, 3325 South University Drive, Suite 210, Davie, FL 33328; 954452-5000 Ext. 220, Fax 954-452-4700; Email: info@ross-realty.com; Web site: www.ross-realty.com.
North Lake Shore Drive property, contact Paige Winkels; Email: pwinkels@titancre.com. For additional information regarding the West Diversey property, contact Ryan Clay.
Miami Lakes – Royal Oaks Plaza, located at the intersection of Northwest 154th Street and Palmetto Expressway, has spaces available from 750 sq.ft. to 5,359 sq.ft. Cotenants include Winn-Dixie, Outback Steakhouse, KFC, Cancun Grill, Subway, Bank of America, Chase Bank, Massage Envy, Uni-K Wax, Supercuts and Anthony’s Coal Fired Pizza. Area demographics include a population of 361,861 within five miles earning $51,542 as the average household income. The asking rent ranges from $19 psf to $32 psf with NNN fees of $8.48 psf. For details, contact Brandon Weiss, NAI Miami; 786-260-0407, Fax 305-938-4002; Email: bweiss@naimiami.com; Web site: www.naimiami.com. West Palm Beach – Shoppes at Southern Palms, located along Southern Boulevard, has spaces available of 4,492 sq.ft. and 4,800 sq.ft. along with five spaces of 1,200 sq.ft. and three spaces of 4,000 sq.ft. Cotenants include Dick’s Sporting Goods and Kohl’s. The asking rent is $23 psf for the 1,200 sq.ft. and 4,800 sq.ft. spaces and $18 psf for the 4,000 sq.ft. and 4,492 sq.ft. spaces with CAM of $8.50 psf. For details, contact Ashley Thornburg, Crossman & Co., 3333 South Orange Avenue, Orlando, FL 32806; 305-726-8431; Email: athornburg@crossmanco.com; Web site: www.crossmanco.com.
Illinois Chicago – A 4,605 sq.ft. space located along North Lake Shore Drive is available. Area retail includes Treasure Island, Parkway Drugs, Scruples Salon and Spa and Fifth Third Bank. Area draws include Northwestern Memorial Hospital. Also, an 1,100 sq.ft. space located at the intersection of West Diversey Avenue and Paulina Street is available. Area retail includes Starbucks. The average daily traffic count is 18,500 vehicles. The asking annual rent is $19 psf NNN. For details, contact Ben Rosenfield, Titan Commercial, 225 North Columbus, Suite 100, Chicago, IL 60601; 312-373-7100, Fax 312373-1400; Email: brosenfield@titancre.com; Web site: www.titancommercialrealestate.com. For additional information regarding the
(continued from page eight)
Collinsville – A 93,120 sq.ft. strip center situated on 9.9 acres along Hertford Lane has spaces available of 10,325 sq.ft. and 20,000 sq.ft. Kohl’s anchors the center and cotenants include Schnucks, Sears Hardware and Hallmark. Area demographics include a population of 46,267 within five miles earning $66,377 as the average household income. The average daily traffic count is 19,700 vehicles. For details, contact Donn Davids, U.S. Properties Group, 310 South Hamilton Road, Gahanna, OH 43230; 614-284-1904; Email: ddavids@uspginc.com; Web site: www.uspginc.com. Mokena – A building located along Wolf Road has spaces available from 946 sq.ft. to 1,158 sq.ft. The asking rent is $11 psf with CAM of $2 psf and taxes of $3.50 psf. For details, contact Dan Hurley, ReMAX Team 2000, 18080 South Wolf Road, Orland Park, IL 60467; 708-650-8501, Fax 708-6458311; Email: danielhurley@comcast.net.
Louisiana New Orleans – A 274,234 sq.ft. center located at the intersection of Behrman Highway and Donner Drive has space available. Walmart Supercenter anchors the center and cotenants include Family Dollar, Shoe Show and Cato. Area demographics include a population of 283,000 within five miles. The average daily traffic count is 30,000 vehicles. For details, contact Harold S. Fry, Hauck Holdings, Ltd., 4334 Glendale-Milford Road, Cincinnati, OH 45242; 800-536-3300 Ext. 203 or 513-733-3300 Ext. 203, Fax 513-7338621.
Maryland Baltimore – Putty Hill Plaza has spaces available of 1,200 sq.ft. and 1,600 sq.ft. Also, Rolling Road Plaza has a 6,623 sq.ft. space available. Also, Wilkens Beltway Plaza & Office, a mixed-use center, has a 2,146 sq.ft. space available along with a 900 sq.ft. pad site with a drive-thru. Bel Air – Greenbrier Shopping Center has spaces available of 1,875 sq.ft. and 3,431 sq.ft. along with divisible spaces of 7,697 sq.ft. and 12,500 sq.ft. and a pad site. Clinton – Clinton Bowl has a 26,412 sq.ft. space available.
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Profile – R.J. Brunelli & Co., Inc.
(continued on page forty) The
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Retail vacancies within the state have climbed slightly during 2010: The company recently surveyed 30 million sq.ft. of retail space along major highways throughout central NJ and observed an increase in vacancy rates from 9% to 9.8% since last year. In northern NJ, the company surveyed 28.5 million sq.ft. and found an increase from 6.6% to 8%. Brunelli Albrecht said that there were approximately 50 vacant sub-anchor and anchor spaces located along major highways in these areas, not including a number of Pathmark and A&P supermarket locations that have since become available. “It has been difficult to lease the larger vacancies,” Brunelli Albrecht said, “but we can now see the light at the end of the tunnel. This past year, our industry has started to see many more retailers consider expanding again.” For example, she said, A.C. Moore has spent the last few years focusing on operations rather than growth, but today they have a positive balance sheet and good cash flow, and are again considering locations in prime markets. “We’ve heard many similar stories from many other retailers,” she added. “We have witnessed landlords reducing rents for both the long term and the short term. For example, landlords have been providing free rent for up to a year in some cases in order to help retailers with their build-out costs. [They] have also been working with existing tenants to reduce option period rents in order to keep them as tenants.” Brunelli Albrecht said that the company expects retailers to continue conservative expansion into the new year and beyond, but vacancy rates in the region will not have decreased by 2012, as the recent Pathmark and A&P vacancies will take more time to fill. However, she added, the company is hopeful that new concepts from other areas of the country will begin to enter into the market to fill these new vacancies, and to take advantage of the state’s high population density and household and disposable incomes. “We [recently] received a call from a regional retailer in Brooklyn, NY who is going to test a new concept in New Jersey selling brand-name items at bargain prices,” she said. “This concept is working for many retailers, as the general population loves quality bargains today.” For more information, contact Danielle Brunelli Albrecht, R.J. Brunelli & Co., 400 Perrine Road, Suite 405, Old Bridge, NJ 08857; 732-721-5800, Fax 732-721-9241; Email: dbrunelli@njretailrealty.com; Web D M site: www.njretailrealty.com. November 26, 2010
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(continued from page thirty-nine)
Columbia – Columbia Crossing has spaces available of 2,500 sq.ft. and 7,080 sq.ft. along with a divisible space of 5,089 sq.ft. Also, Dorsey’s Search Village Center has spaces available of 1,212 sq.ft. and 3,390 sq.ft. Also, Hickory Ridge Village Center has a 1,646 sq.ft. space available. Also, Lynx Lane has a divisible space of 8,459 sq.ft. available. Also, Kings Contrivance, a mixed-use center, has a 1,244 sq.ft. space available. Also, Wilde Lake Village Center, a mixed-use center, has spaces available of 911 sq.ft. and 23,716 sq.ft. Easton – Shoppes at Easton has spaces available of 1,140 sq.ft. and 5,000 sq.ft. Ellicott City – Enchanted Forest Shopping Center has a 1,500 sq.ft. space available along with a divisible space of 4,365 sq.ft. Gaithersburg – Gaithersburg Shopping Center has divisible spaces of 6,000 sq.ft. and 10,026 sq.ft. available. Hagerstown – Hagerstown Shopping Center has a 1,050 sq.ft. space available along with a divisible space of 22,250 sq.ft. Hunt Valley – Shawan Plaza has a divisible space of 4,759 sq.ft. available. For details regarding the Baltimore, Bel Air, Easton, Ellicott City and Hunt Valley properties, contact Scotty Sellman, Kimco Realty Corp., 170 West Ridgely Road, Lutherville, MD 21093; 410-684-2000; Email: ssellman@kimcorealty.com; Web
Maryland
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site: www.kimcorealty.com. For details regarding the Clinton, Gaithersburg and Hagerstown properties, contact Jarett Parker; 410-427-4430, Fax 410-859-5685; Email: jparker@kimcorealty.com. For details regarding the Columbia properties, contact Kevin Allen, 10451 Twin Rivers Road, Suite 410, Columbia, MD 21044; 443367-5124, Fax 443-367-0066; Email: kallen@kimcorealty.com.
A strip center located along River Street has spaces available from 2,000 sq.ft. to 13,300 sq.ft. Malden – A center located along Commercial Street has a divisible space of 5,000 sq.ft. available. Mansfield – A strip center located along North Main Street has an 1,800 sq.ft. space available. Quincy – Spaces of 2,800 sq.ft. to 3,300 sq.ft. located along Quincy Street are available. Salem – A shopping center located along Canal Street has a divisible space of 47,800 sq.ft. available. Cotenants include Family Dollar and Little Caesar’s. Somerville – A 12,000 sq.ft. space located along Somerville Avenue is available. Swansea – A strip center located along G.A.R. Highway has a divisible space of 14,040 sq.ft. available. For details, contact Denenberg Realty Advisors, 230 Commercial Street, Boston, MA 02109; 617-720-5656; Web site: www.denenbergra.com.
Massachusetts Abington – A strip center located along Bedford Street has a divisible space of 16,000 sq.ft. available. Boston – A divisible space of 23,500 sq.ft. located along Columbus Avenue is available. Also, a divisible space of 4,200 sq.ft. located along Commonwealth Avenue is available. Also, Crosstown Center, located along Massachusetts Avenue, has a divisible space of 12,554 sq.ft. available. Brockton – A 3,850 sq.ft. space currently tenanted by CVS will be available during February. Area retail includes Wash ‘N Go Laundromat. Also, a 20,000 sq.ft. parcel located along Oak Street is available. Hanover – Merchant’s Row, located along Washington Street, has spaces available from 955 sq.ft. to 3,654 sq.ft. Also, a divisible space of 7,894 sq.ft. located along Washington Street is available. Hyde Park –
Michigan Grand Rapids – Space located along 28th Street Southeast is available. Also, a divisible 4,000 sq.ft. former bank located along 28th street is available. The asking rent is $9 psf. For details, contact Steve Brenner, Evergreen Properties of Michigan, Inc., (continued on page forty-two)
ED SF Et Pl 00 M ,0 lE CO E E 13 Ab St C bl 0– Il Ju PA lA 00 vA On Il S vAI 2, A tI EtA A vA R ly O E E n IM IAt RE R ED P M IM
R O AJ M
Let the DeaLmakerS’ e-maiL ForumS LeaSe anD SeLL Your ProPertY For Free
301 north Harrison Street | Princeton, nJ 08540 AnCHORED by
Princeton’s classic 228,000 SF, open-air shopping mall — featuring 55 stores, restaurants and services with 1,300 parking spaces surrounding 2 acres of a beautifully landscaped courtyard. DEMOGRAPHICS (5–Mile Radius) Population: 78,592 Average Household Income: $148,008 Median Household Income: $114,587 CuRREnt tEnAntS PNC Bank The UPS Store Dunkin’ Donuts
SuperMarket
Main Street Bistro
Cutters Mill Pet Supply Metropolis Salon and Spa
Bon Appetit Gourmet Deli and more…
Chris Hanington 609-921-6234 chaningtonprinceton.shoppingcenter@verizon.net www.princetonshoppingcenter.com page 40
November 26, 2010
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Join over 118,900 members looking to acquire, sell, lease and finance all types of commercial real estate. We’re the place to list your center’s availabilities and to find that perfect site. no Over 1.5 matter the economy, these forums make sense milliOn and, best of all, they’re free! unique visitOrs tO dealmakers.net per year!
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ThANk You To
R. William Kent Gary S. Lawrence Jeffrey Ackerman PK Kamath oF CB rIChArD ELLIS
towne Crossings
gettYsBurg MarKetplaCe
For ArrANgINg ThE purChASE oF ThE
MID-ATLANTIC FIVE CENTEr porTFoLIo
northlanD Center
YorK MarKetplaCe
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IN pENNSYLVANIA, MArYLAND & VIrgINIA
ThANk
You
Cedar Shopping Centers, Inc. Developers, owners anD Managers of BreaD & Butter速 shopping Centers www.cedarshoppingcenters.com
nancy Mozzachio Michael winters viCe presiDent of leasing
viCe presiDent of aCquisitions
t. 856.218.8677 t. 516.944.4523 f. 856.218.8678 f. 516.767.6497 e.nhmcedarsc@aol.com e.mwinters@cedarshoppingcenters.com
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6274 28th Street Southeast, Grand Rapids, MI 49546; 616-340-8118, Fax 616-954-4400; Email: sbenner@sbcglobal.net. Zeeland – A 96,000 sq.ft. center located at the intersection of 96th Street and Riley Street has space available. Cotenants include Family Fare Supermarket, Blockbuster Video, Wolfies Restaurants, Great Clips and Snap Fitness. For details, contact Tim Platt, The Wisinski Group, 2618 East Paris Avenue Southeast, Grand
Michigan
Missouri
Rapids, MI 49546; 248-705-2213, Fax 616942-2854; Email: tplatt@wisinski-group.com; Web site: www.wisinski-group.com.
Anytime Fitness, RadioShack, First Star Back and Hardee’s. Area retail includes Sutherland Lumber and Aldi. For details, contact Harold S. Fry, Hauck Holdings, Ltd., 4334 Glendale-Milford Road, Cincinnati, OH 45242; 800-536-3300 Ext. 203 or 513-733-3300 Ext. 203, Fax 513-7338621.
Missouri Hannibal – Huck Finn Shopping Center, a 270,000 sq.ft. center, has spaces available from 1,200 sq.ft. to 40,000 sq.ft. Walmart Supercenter and Lowe’s Home Improvement shadow-anchor the center. Cotenants include JCPenney, Kroger, Maurices, Hallmark, Big Lots, Dollar General, Hibbett Sports,
AlwAys n on the web at www.dealmakers.net
Kirkwood – A 48,759 sq.ft. center located at the intersection of Manchester Road and Woodlawn Avenue has spaces available of 1,070 sq.ft.; 1,166 sq.ft. and 1,440 sq.ft. Cotenants include St. Louis Bread Co., Hairtopia, The Dance Center of Kirkwood, 24 Hour Fitness, 11 Mile House Restaurant, Paper Warehouse, Weight Watchers, Oberweis Dairy and Great Clips. For details, contact Jennifer Heilweck or Peter Sebelski, Novus Development, 20 Allen Avenue, Webster Groves, MO 63119; 314968-0842; Emails: jheilweck@novusdev.com and psebelski@novusdev.com; Web site: www.novusdev.com.
New Jersey
on your mobile browser at dlmkrs.com or through the issuu app for your Apple or Android device
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Bridgewater – Bridgewater Plaza, located along Highway 202 South, has a 6,400 sq.ft. pad site available. East Windsor – East Windsor Village, located along PrincetonHightstown Road, has spaces available of 2,200 sq.ft. and 52,869 sq.ft. The asking rent for the 2,200 sq.ft. space is $20 psf with NNN fees of $7.55 psf. Hillsborough – Hillsborough Promenade, located at the intersection of Route 206 and Falcon Road, has spaces available of 5,600 sq.ft. and 5,904 sq.ft. The asking rent is $25 psf with NNN fees of $8.48 psf for the 5,600 sq.ft. space and $14.54 psf for the 5,904 sq.ft. space. Holmdel – Holmdel Towne Center, located at the intersection of Route 35 and Laurel Avenue, has spaces available of 2,355 sq.ft.; 2,460 sq.ft.; 2,934 sq.ft.; 7,000 sq.ft.; 15,725 sq.ft. and 16,172 sq.ft. The asking rent is $28 psf for the 2,355 sq.ft.; 2,460 sq.ft.; 2,934 sq.ft. and 7,000 sq.ft. spaces and $25 psf for the 15,725 sq.ft. and 16,172 sq.ft. spaces, with NNN fees of $5.99 psf. Piscataway – Piscataway Town Center, located along Centennial Avenue, has spaces available of 1,137 sq.ft.; 2,867 sq.ft. and 3,640 sq.ft. The asking rent is $28 psf for the 1,137 sq.ft. space and $24 psf for the remaining spaces, with NNN fees of $8.45 psf. Wayne – Willowbrook Plaza, located at the intersection of Interstate 23 and Willowbrook Road, has a 38,245 sq.ft. space available along with a divisible space of 85,000 sq.ft. Area retail includes (continued on page forty-four)
page 42
November 26, 2010
The
Dealmakers
www.dealmakers.net
You’re in good company...
The Bay Terrace Shopping Center Corner of Bell Blvd. & 26th Ave. Bayside, NY
e l b a l Avai for e c a p S e s a e L
tate s E l a e R e Prim
0 s.f. 0 6 , 4 o t up
‰ Located in Densely Populated Queens County ‰ A mix of National and Specialty Retailers, Restaurants, Professionals and an AMC Multiplex Theatre ‰ Easily accessible from the Cross Island Parkway and the Clearview Expressway
plus many others... For more information please contact:
Cord Meyer Development LLC Patricia Walsh: 718.947.7110 or pwalsh@cordmeyer.com
www.cordmeyer.com
www.bayterrace.com
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Willowbrook Mall. 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. Burlington – Towne Crossing, located along Route 541/Mt. Holly Road, has a divisible 6,000 sq.ft. pad site available. Kohl’s, Home Depot, Target, Dick’s Sporting Goods and OfficeMax anchor the center. Area retail includes Chuck E. Cheese’s, Burger King, AT&T Mobility, Sleepy’s, IHOP, T.G.I. Friday’s, Cracker Barrel, Applebee’s and Burlington Mall, featuring Macy’s, Sears and JCPenney. Area demographics include a population of 130,197 within five miles earning $70,961 as the median household income. For details, contact Jay Miller, RAS Brokerage, 633 West Germantown Pike, Suite 203, Plymouth Meeting, PA 19462; 215-322-8070, Fax 215-322-8460; Email: jmiller@rasbrokerage.com. Hamburg – Level 10 Plaza, a 12,600 sq.ft. strip center located along Ortis Road, has two spaces of 2,100 sq.ft. available. Dunkin’ Donuts and State Farm Insurance anchor the center. Cotenants include Subway, Award Flooring and Wealth Depot. Area retail includes Rite Aid, Wachovia Bank and Domino’s Pizza. Area demographics include a population of 53,642 within seven miles earning $82,549 as the average household income. Newark – A 4,000 sq.ft. space located along Merchant Street is available. Area retail includes Pathmark, CVS, BCP Bank and Dunkin’ Donuts. Area demographics include a population of 770,942 within five miles earning $62,892 as the average household income. Also, a 14,000 sq.ft. space located along Delancey Street is available. Area retail includes Pathmark, CVS, RadioShack, Bank of America and Dunkin’ Donuts. Area demographics include a population of 777,341 within five miles earning $65,370 as the average household income. Also, a 14,000 sq.ft. space located at the intersection of Ferry Street and Merchant Street is available. Area retail includes BCP Bank, RadioShack, Sovereign Bank, Dunkin’ Donuts, Pathmark, Save Smart, CVS and Bank of America. Area demographics include a population of 770,942 within five miles earning $62,892 as the average household income. For details regarding the Hamburg property, contact M. Anthony Rivera, The Goldstein page 44
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Group, 45 Eisenhower Drive, Paramus, NJ 07652; 201-703-9700, Fax 201-703-9678; Email: arivera@thegoldsteingroup.com; Web site: www.thegoldsteingroup.com. For details regarding the Newark properties, contact Joseph DeFeo; Email: jdefeo@thegoldsteingroup.com.
2660; Email: zach@winick.com; Web site: www.winick.com. For details regarding the New York property, contact Steven L. Weissman or Joseph Isa; 212-7922609/2647; Emails: steven@winick.com and joseph@winick.com. For details regarding the Pelham Manor property, contact Steven L. Weissman.
Harrison Township – Richwood Village, a 480,000 sq.ft. mixed-use center located at the intersection of Route 55 and Route 322, has space available. Area draws include Rowan University. Area demographics include a population of 85,746 within five miles earning $94,503 as the average household income. For details, contact Joseph D. Morris, Madison Marquette, 1717 Arch Street, Suite 3930, Philadelphia, PA 19103; 215-399-4186; Email: joe.morris@madisonmarquette.com; Web site: www.madisonmarquette.com. Marlton – A 6,000 sq.ft. freestanding building situated on 0.53 acres along North Maple Avenue between Route 70 and Main Street is available. Area demographics include a population of 157,336 within five miles earning $108,973 as the average household income. The average daily traffic count is 40,000 vehicles. For details, contact Ryan W. Turner, InterState Commercial, 14000 Horizon Way, Suite 100, Mt. Laurel, NJ 08054; 856-439-9200, Fax 856-439-0404; Email: turner@ic-re.com; Web site: www.ic-re.com.
New York Brooklyn – A building located at the intersection of Avenue P and East 3rd Street is available. The building features a 4,200 sq.ft. ground-floor space and a 4,200 sq.ft. lowerlevel space. Area retail includes Sovereign Bank, Dunkin’ Donuts and CVS. New York – A 2,432 sq.ft. space located at the intersection of Broadway and Amsterdam Avenue is available. Area retail includes McDonald’s, JP Morgan Chase, Gourmet Garage, AT&T Mobility, Citibank, Rite Aid and Gristedes. Pelham Manor – A 3,000 sq.ft. building situated on a land area of 26,250 sq.ft. at the intersection of Boston Post Road and West Street is available. Area retail includes BJ’s Wholesale Club, Michaels, Sleepy’s, Citibank, The Vitamin Shoppe, GameStop, Modell’s, Fairway, A.J. Wright, Verizon Wireless and Omni Fitness. For details regarding the Brooklyn property, contact Zach Mishaan, Winick Realty Group, 655 Third Avenue, 8th Floor, New York, NY 10017; 212-792-2622, Fax 212-792Dealmakers
www.dealmakers.net
Brooklyn Heights – A 500 sq.ft. space located along Montague Street between Hicks Street and Henry Street is available. Area retail includes Design Within Reach, Banana Republic, Ann Taylor Loft, Ricky’s, Crumbs, Five Guys Famous Burgers and Fries and Starbucks. New York – A 10,175 sq.ft. two-level space featuring a 7,675 sq.ft. ground-level space and a 2,846 sq.ft. lowerlevel space located at the intersection of Third Avenue and 74th Street is available. Area retail includes Scoop NYC, BCBG and Max Azria. The asking rent is $200 psf. For details regarding the Brooklyn Heights property, contact Lisa Rosenthal or Joseph Leinsdorf, The Lansco Corp., 900 Third Avenue, New York, NY 10022; 212644-2222 Ext. 6884/6907, Fax 212-6446444; Emails: lrosenthal@lansco.com and jleinsdorf@lansco.com. For details regarding the New York property, contact Evan Ruster or Alan Victor; 212-644-2222 Ext. 6869/6894; Emails: eruster@lansco.com and avictor@lansco.com. East Northport – A 3,600 sq.ft. store front located along Jericho Turnpike is available. Area retail includes Elwood Shopping Center. Area demographics include a population of 219,712 within five miles earning $120,770 as the average household income. The average daily traffic count is 39,450 vehicles. The asking rent is $19 psf. For details, contact Sharon Langdon, Millennium Commercial & Investment; 631424-0225; Email: brokerre@optonline.net. Fishkill – Dutchess Mall, a center situated on 14.64 acres along U.S. Route 9, has space available along with outlots of 2,500 sq.ft.; 5,000 sq.ft. and 25,000 sq.ft. Home Depot anchors the center and cotenants include McDonald’s, Charter One Bank and Hudson Valley Federal Credit Union. Area retail includes Sam’s Club, Walmart, Regal Cinemas, Charlie Brown’s Steakhouse and Ruby Tuesday. Area demographics include a population of 108,773 within 10 miles earning $84,754 as the average household income. The average daily traffic count is 60,220 vehicles. (continued on page forty-six)
Vanguard knows New Jersey Tenants like our market knowledge Landlords like our experience
New Jersey Retail Opportunities In: Butler Bloomfield Denville Edison Elmwood Park Florham Park Haskell Howell Jersey City Livingston
Millburn Springfield Montclair Summit Morristown Totowa Mt. Olive Vernon Newark Waldwick Parsippany Wayne Randolph West Caldwell Rochelle Park West Milford Roseland West Orange Sparta Whippany
Neal J. Richards, Vice President Vanguard Realty, Inc. 195 Columbia Turnpike, Suite 100 Fredric Kruvant, President (973) 443-9700 Please visit us at the 2010 Vanguard Realty, Inc. ICSC National Conference nrichards@vanguardsite.com Vanguard Tenant Services Booth #191, Rhinelander Gallery, Vanguard Property Management New York Hilton www.vanguardsite.com
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For details, contact Tom Cervone, CR Properties Group, LLC, 295 Main Street, Poughkeepsie, NY 12601; 845-485-3100, Fax 845-4854787; Email: tom@crproperties.com; Web site: www.crproperties.com. Islandia – A two-acre parcel located along Veterans Highway is available for ground lease or build-to-suit. Area retail includes Walmart, Stop & Shop and Walgreens. Area demographics include a population of 248,293 within five miles earning $92,360 as the average household income. The average daily traffic count is 33,300 vehicles. Miller Place – A 24,000 sq.ft. space located along Route 25A is available. Area retail includes McDonald’s, Ging’s Nursery, Applebee’s, Friendly’s, 7-Eleven, Stop & Shop, Starbucks, Wendy’s, Marshalls, Rite Aid, Ruby Tuesday, Chase Bank, GameStop, Liberty Mutual, Subway, Tutor Time, Bank of Smithtown and Hudson Bank. Area demographics include a population of 122,468 within five miles earning $82,397 as the average household income. The average daily traffic count is 34,800 vehicles. Seaford – A 1.1-acre parcel located along Merrick Road is available. Area demographics include a population of 326,652 within five miles earning $104,662 as the average household income. The average daily traffic count is 35,550 vehicles. West Hempstead – West Hempstead Center, located at the intersection of Hempstead Turnpike and Broad Street, has an 8,500 sq.ft. space available for build-to-suit. Area demographics include a population of 180,213 within five miles earning $104,450 as the average household income. For details regarding the Islandia, Miller Place and Seaford properties, contact Judy Pascucci, Breslin Realty, 500 Old Country Road, Garden City, NY 11530; 516-7417400 Ext. 216, Fax 516-741-5621; Email: jpascucci@breslinrealty.com; Web site: www.breslinrealty.com. For details regarding the West Hempstead property, contact Robert Delavale; 516-741-7400 Ext. 230; Email: rdelavale@breslinrealty.com. New York – A 2,000 sq.ft. ground-floor space and a 2,000 sq.ft. first-floor space located along East 8th Street between 5th Avenue and University Place are available. The spaces are combinable and also include a 1,000 sq.ft. basement. For details, contact Matt Glowski, Charles Rutenberg Realty, 127 East 56th Street, 4th Floor, New York, NY 10022; 212-688-1000; Email: mglowski@crrnyc.com. page 46
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Spring Valley – Four Corners Spring Valley, a mixed-use retail building located along North Main Street, has spaces available of 1,500 sq.ft.; 3,100 sq.ft. and 6,000 sq.ft. Area demographics include a population of 113,714 within three miles earning $75,362 as the median household income. For details, contact David Perlmutter, Perlmutter Properties, Inc., 4 West Red Oak Lane, Suite 105, White Plains, NY 10604; 914-686-8900; Email: david@perlmutterproperties.com.
Lowe’s Home Improvement and Home Depot. The average daily traffic count is 38,500 vehicles. For details, contact Harold S. Fry, Hauck Holdings, Ltd., 4334 Glendale-Milford Road, Cincinnati, OH 45242; 800-536-3300 Ext. 203 or 513-733-3300 Ext. 203, Fax 513-733-8621.
Staten Island – Richmond Shopping Center, located at the intersection of Richmond Avenue and Independence Avenue, has spaces available of 2,000 sq.ft.; 2,700 sq.ft. and 3,500 sq.ft. along with a divisible pad site of 9,000 sq.ft. 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. Wantagh – Cherrywood Shopping Center has a 2,400 sq.ft. space available. Cotenants include Lavarone Bros., CVS and Umberto’s. For details, contact Leslie Vitale, Robert H. Arnold Real Estate, 38 Glen Cove Road, Greenvale, NY 11548; 516-621-1000, Fax 516-621-1706; Email: leslievitale11@aol.com.
North Dakota Minot – A strip center situated on 14.64 acres along South Hamilton Road has a divisible 54,000 sq.ft. space available along with a 47,916 sq.ft. outlot. Hobby Lobby anchors the center. Area retail includes Dakota Square Mall, Best Buy, Barnes & Noble, Carmike Cinema, Target, Sears, Herberger’s, JCPenney, Menards, Scheels and Walmart Supercenter. For details, contact Donn Davids, U.S. Properties Group, 310 South Hamilton Road, Gahanna, OH 43230; 614-284-1904; Email: ddavids@uspginc.com; Web site: www.uspginc.com.
Ohio Toledo – North Towne Commons, a 385,000 sq.ft. center located at the intersection of Alexis Road and Lewis Avenue, has space available from 3,000 sq.ft. to 13,000 sq.ft. Cotenants include Target, Kroger, T.J. Maxx, Dick’s Sporting Goods, OfficeMax and Pet Supplies Plus. Area retail includes Dealmakers
www.dealmakers.net
Pennsylvania Allentown – South Mountain Shopping Center, located at the intersection of 31st Street and Emmaus Avenue, has spaces available of 1,600 sq.ft. and 8,800 sq.ft. along with a pad site. Giant Food anchors the center and cotenants include Hallmark, Wachovia and Great Clips. Easton – William Penn Plaza, located along William Penn Highway, has a 1,200 sq.ft. space available along with two spaces of 1,400 sq.ft. Cotenants include Weis and Friendly’s. Lancaster – Centerville Square, located along Lancaster Road, has a 1,600 sq.ft. space available. Giant Food anchors the center and cotenants include CVS and Friendly’s. Lititz – Kissel Village, located along Lititz Pike, has spaces available from 800 sq.ft. to 4,000 sq.ft. along with a 6,500 sq.ft. pad site. Giant Food anchors the center and cotenants include CVS, Fashion Bug, Blockbuster Video and a future Target. West Chester – Painter’s Crossing, located along Wilmington Pike, has spaces available of 800 sq.ft.; 1,080 sq.ft.; 3,205 sq.ft. and 8,686 sq.ft. Cotenants include AMC Theatres, Carrabba’s and T.G.I. Friday’s. For details regarding the Allentown, Easton and West Chester properties, contact Fran McDonnell, R.J. Waters & Associates, Inc., 200 Old Forge Lane, Suite 201, Kennett Square, PA 19348; 610-388-6600, Fax 610388-6605; Email: fmcdonnell@rjwaters.com; Web site: www.rjwaters.com. For details regarding the Lancaster and Lititz properties, contact Joe Waters; Email: joewaters@rjwaters.com. Collegeville – Providence Town Center, a 768,000 sq.ft. center located at the interchange of Route 422 and Route 29, has space available. Wegmans anchors the center and cotenants include Eastern Mountain Sports, Movie Tavern, Best Buy, LA Fitness, Dick’s Sporting Goods, HomeGoods, Five Below, Ulta, DSW, PNC Bank, Olive Garden, Raymour & Flanigan, Staples, PetSmart and Michaels. Trade-area demographics include a population of 339,630 earning $70,446 as the median household income. The average daily traffic count is 88,920 vehicles. (continued on page forty-eight)
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For details, contact David Waterman or Lance Billingsley, Brandolini Cos., 1301 Lancaster Avenue, Berwyn, PA 19312; 610-640-9800, Fax 610-640-9058; Web sites: www.brandolinicompanies.com and www.providencetowncenter.com. Hanover – South Hanover Shopping Center, a 175,634 sq.ft. center located along Baltimore Street, has spaces available from 1,200 sq.ft. to 32,500 sq.ft. along with a 3,500 sq.ft. bank pad site. Giant anchors the center. Area demographics include a population of 40,830 within three miles earning $63,558 as the average household income. The average daily traffic count is 30,355 vehicles. For details, contact Dave Nicholson or Joseph R. Deerin, LMS Commercial Real Estate, 120 North Pointe Boulevard, Suite 301, Lancaster, PA 17601; 717569-9373, Fax 717-560-9909; Web site: www.lms-pma.com. Harrisburg – The Shoppes at Susquehanna Marketplace has a 7,175 sq.ft. endcap space with an outdoor patio available. Cotenants include Macaroni Grill, Starbucks, WilliamsSonoma, Banana Republic, Justice, Jos. A. Bank, Talbots, Coldwater Creek, Chico’s, J. Jill and Ann Taylor Loft. Reading – The Shoppes at Wyomissing has an 1,800 sq.ft. freestanding space with a drive-thru and an outdoor patio available. Cotenants include Bensi Italian Cuisine, Zoup!, On the Border, Justice, Jos. A. Bank, Talbots, Coldwater Creek, J. Jill and Ann Taylor Loft. For details, contact Charles Cristella, Stanbery Development, 328 Civic Center Drive, Columbus, OH 43215; 856-9881771; Email: ccristella@stanbery.com; Web site: www.stanbery.com. Philadelphia – A divisible space of 4,355 sq.ft. located along Chestnut Street is available. Area retail includes CVS, Victoria’s Secret, dressbarn, DiBruno Bros., Barnes & Noble, Boyd’s and Men’s Wearhouse. Also, a center located along Roosevelt Boulevard has a 7,000 sq.ft. endcap space available. Cotenants include David’s Bridal, Wine & Spirits Shoppe, T-Mobile, Family Dollar and H&R Block. The average daily traffic count is 120,000 vehicles. For details regarding the Chestnut Street property, contact Michael Barmash or Michael Kahan, Colliers International, 399 Market Street, 3rd Floor, Philadelphia, PA 19106; 215-928-7519/7564, Fax 215-9251040; Emails: michael.barmash@colliers.com page 48
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and michael.kahan@colliers.com; Web site: www.colliers.com. For details regarding the Roosevelt Boulevard property, contact Todd Sussman or Despina Belsemes; 215-9287575/7531; Emails: todd.sussman@colliers.com and despina.belsemes@colliers.com.
include a population of 262,009 within five miles earning $72,322 as the average household income. The average daily traffic count is 26,700 vehicles. For details, contact Richard Hall, Summit Realty Advisors, 6836 Bee Caves Road, Suite 284, Austin, TX 78746; 512-659-8587, Fax 512-306-8207; Email: rshall03@sbcglobal.net.
Seven Fields – The Terrace at Northpointe, located along Route 228, has a 3,051 sq.ft. space available. Wexford – Pine Tree Shoppes, located along Route 19, has a divisible space of 6,000 sq.ft. available. Arhuas Furniture and Panera Bread anchor the center. The average daily traffic count is 23,000 vehicles. For details, contact Herky Pollock, Steven Esposito or Josh Smith, CB Richard Ellis, 600 Grant Street, Suite 1400, Philadelphia, PA 15219; 412-394-9840/9845/ 9808; Emails: herky.pollock@cbre.com, steve.esposito@cbre.com and josh.smith@cbre.com; Web site: www.cbre.com. South Philadelphia – Whitman Plaza, a 279,728 sq.ft. center located at the intersection of Third Street and Oregon Avenue, has a 110,000 sq.ft. space available. Cotenants include RadioShack, Fashion Bug, H&R Block, GameStop, GNC, Citizens Bank, Payless ShoeSource, Avenue, Dunkin’ Donuts, Dots, Sally Beauty Supply, Party City and Rent-A-Center. Area demographics include a population of 616,988 within five miles earning $46,370 as the average household income. For details, contact Robert Delavale, Breslin Realty, 500 Old Country Road, Garden City, NY 11530; 516-7417400 Ext. 230, Fax 516-741-5621; Email: rdelavale@breslinrealty.com; Web site: www.breslinrealty.com.
Tennessee Memphis – A 78,000 sq.ft. center has space available. Cotenants include Miriam Salon, Burger King and First TN Bank. For details, contact F. Ford Beach, Jr., Beach Investment Co., PO Box 242102, Memphis, TN 38124; 901-324-3700, Fax 901-888-6008; Email: fordb@testexpressinc.com.
Texas Austin – A 23,050 sq.ft. freestanding building located at the intersection of Braker Lane and Lamar Boulevard is available along with a 47,480 sq.ft. outlot. Area retail includes Southwestern National Bank, Farmers Insurance and Pho Dan Restaurant. Area retail includes CVS. Area demographics Dealmakers
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San Antonio – Dominion Hills Plaza, a 9,720 sq.ft. center located along Interstate 10 West, has a 2,827 sq.ft. space available. Cotenants include Cody Pools. Area retail includes Lowe’s Home Improvement, Target, Best Buy, Dick’s Sporting Goods, Life Time Fitness and H-E-B. Area demographics include a population of 138,106 within five miles earning $97,450 as the average household income. The average daily traffic count is 100,000 vehicles. The asking monthly rent is $22 psf with NNN fees of $5.36 psf. For details, contact Michael Garansuay or Craig Garansuay, United Commercial Realty, 1901 Northwest Military Highway, Suite 200, San Antonio, TX 78213; 210-635-1014 or 210253-3087; Emails: garansuaym@ucr-sa.com and garansuayc@ucr-sa.com; Web site: www.ucrrealty.com.
Virginia Reston – Tall Oaks Shopping Center, a 71,742 sq.ft. center located at the intersection of North Shore Drive and Wiehle Avenue, has spaces available from 1,980 sq.ft. to 3,353 sq.ft. Compare Foods Supermarket anchors the center. Area demographics include a population of 95,783 within three miles earning $132,730 as the average household income. For details, contact Marty Flax, Renaud Consulting, 8605 Westwood Center Drive, Suite 309, Vienna, VA 22182; 301-9807686; Email: mflax@renaudconsulting.net; Web site: www.renaudconsulting.net. Warrenton – Oak Springs Plaza, located along West Lee Highway, has spaces available of 1,200 sq.ft. and 3,600 sq.ft. Giant Food anchors the center and cotenants include Hallmark and Tractor Supply Co. Winchester – Apple Blossom Center, located along East Jubal Early Drive, has a 3,500 sq.ft. endcap space with a drive-thru available. Cotenants include Best Buy. For details, contact Dempsey Hydrick, R.J. Waters & Associates, Inc., 200 Old Forge Lane, Suite 201, Kennett Square, PA 19348; 610-388-6600, Fax 610-388-6605; Email: dhydrick@bellsouth.net; Web site: D www.rjwaters.com. M
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… 1 0 2 o t d r a w r o f g n i k o Lo Rep ortin g The Nat ion’ s Wee kly New s on XLIII Ret ailin g & Ret ail Rea l Esta te
Volume XXV No.
Apparel Chains Exp and
May 22-25, 2011 The Dealmakers May 27th issue
distributed at RECon The Global Retail Real Estate Convention in Las Vegas, NV, delivers your advertising message to the real decision makers. Our readers respond and our advertisers get results. SET THE STAGE Book appointments in advance by placing your ad in The Dealmakers May 13th pre-show issue, telling everyone you’re ready to make deals!
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Nationwide
Eileen Fisher, Inc. FEaTuRiN trades as Eileen Fisher, g Fisher Co. Store, Eileen Fisher Boutiq Eileen Jos. A. Bank Clothiers, Inc. trades as Jos. Eileen Fisher Lab ue and Bank Clothie Store at 52 locatio ICSC Southeast Confe A. rs at 494 locations ns throughout AZ, CA, CO, CT, nationwide. The rence stores, offering men’s FL, IL, MA, MD, MI, NJ, NM, of apparel, occupy New Construction NY, OR, PA, VA, spaces 4,000 sq.ft. to 4,500 WA and Washington, Century Retail is sq.ft. in lifestyle stores, offering women DC. The special developing a and ty 375,000 centers and urban/ ’s apparel, occupy sq.ft. mixed-u of 1,000 sq.ft. to downtown areas. in Avondale Estates, se project 2,500 sq.ft. in upscal spaces Growth opportunities GA........... Pg. 3 are lifestyle centers and downtown areas. e malls, major metropolitan market sought throughout Observations & Convers opportunities are s nationwide during Growth the comin ations Pg. 4 sought nationwide g 18 months. Preferr during the includ coming 18 month ed demographics Profile s. e a population For more inform Real Estate Southea miles earning $90,00 of 150,000 within five st, LLC ....... Pg. ation, contact Karen 6 0 as the average househ Eileen Fisher, Inc., Gray, income. old Two Bridge Street, The company will Buyers & Sellers Irvington, in malls NY 10533; 914-59 also consider locatin Coyote GRF|Inv 1-5700, Fax 914-59 g and factory outlet estors, LLC Web site: www.e centers 1-8900 and . ; Garrison For more inform Investm ileenfisher.com. ation, contact Joe acquired six centers ent Group Jos. A. Bank Clothie throughout Foley, AL, GA and NC ............ rs, Inc., 500 Hanov American Eagle ........... Pg. 8 Hampstead, MD er Pike, Outfitters, Inc. 21074 trades as 443-50 ; 443-508-4871, American Eagle Thalhimer is selling Fax Outfitt 8-4799; Email: an 88,298 sq.ft. center in Richmon jfoley@jos-a-bank.co nationwide and throug ers at 950 locations Web d, VA .... Pg. 15 site: www.josbank m; hout Canada and .com. Rico. The stores, Puerto Openings offerin casual apparel, footwe g men’s and women’s Pretty Urban Outfitters Girl ar and accessories, to open in Memphis, TN ............ spaces of 6,500 occupy and NY. operates 20 locations throughout sq.ft. .............. Pg. 10 NJ The stores, offerin areas. Limited growth in malls and downtown appare g discounted juniors l, occupy spaces JCPenney to open ’ opportunities are three stores of 3,500 sq.ft. to nationwide during sought sq.ft. in during 15,000 2011........................ the outlet, strip, tourist ..... Pg. 12 company also trades coming 18 months. The as well and value centers , as as Food Retailers Expand nationwide and throug aerie at 128 locations are sought urban areas. Growth opportunities LaRosa’s plans to hout Canada. The throughout AL, IL, enter offering women stores, during NJ, NY and PA market ........................ the NC ’s intimate appare the coming ............. Pg. 13 l, spaces of 4,500 18 months, with sq.ft. in malls. Limited occupy representation by Eretz, Sources of Financin Ltd. Typical leases opportunities are growth 10 years. g sought nationwide run A vanilla shell is The Washington during the cotena coming 18 month required. Preferred provided financin Trust Co. s. nts include Target g and T.J. Maxx. Major For more inform centers in MA and for shopping competitors includ RI ............... Pg. ation, contact e Rainbow Shops, 16 Cortazzo, Americ Michael and Ross CitiTrends an Dress for Less. Exclusives 150 Thorn Hill Drive, Eagle Outfitters, Inc., For more Cypress Retail Group Warrendale, PA represents 724-779-5555, Fax 15095; Eretz, Ltd., information, contact Ellaina Dreifac retailers through th h, 724-779-5580; Web out 5916 select markets in CA ............ www.ae.com and sites: 646-457-9837 18 Avenue, Brooklyn, NY 11204; .............. Pg. 16 www.aerie.com. ; Email: ellaina@eretzltd .com. In
ThIs Issue coN TaIN
(continued on page
fourteen)
s INformaTIo * Retailers opera ting 31,381 locati N oN: ons with plans * Real estate value to open 2,246 d in excess of $80 sites million to be boug * Leasing activit ht, sold & finan y on over 4.9 millio ced n sq.ft. of retail properties
Important News Please Expedite
Postmaster: Period
ical
the News Newmark Knight Cynthia Groves Frank hired managing director, as senior consulting.... Pg. 17
Lease Signings S.L. Nusbaum negotiated leases
Realty Co. throughout VA Pg. 18 Lead Sheet Card$mart seeking stores nationwide ............ .................. Pg. 19 Shoe Sensation to open locations throughout AR, IA, MI, OH, PA, TN and IL, IN, KY, WV ......... Pg. 22 Space Place ............ ................. Pg. 23 Most Valuable Players ............. Pg. 30
For more news go www.dealmakers. to: net Mobile Access Code: 111210_CS3.indd
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Most Valuable Players 10 Spot/MadRag...................................................................... Pg. 14
Nielsen.................................................................................... Pg. 16
AEI Fund Management, Inc...................................................... Pg. 37
Paramount Realty Services, Inc......................................... Pgs. 28, 29
AmCap Properties, Inc............................................................. Pg. 13
Princeton Shopping Center...................................................... Pg. 40
Breslin Realty................................................................................BC
Pyramid Brokerage Co. ........................................................... Pg. 10
Cedar Shopping Centers, Inc.......................................... Pgs. 41, IBC
RD Management, LLC.......................................................Pgs. 21-24
Children of America................................................................ Pg. 19
Royal Properties, Inc. . ............................................................ Pg. 15
City of Bowie, Maryland.......................................................... Pg. 27
Schuckman Realty, Inc.............................................................. Pg. 5
Cord Meyer Development, LLC............................................... Pg. 43
Stuart Makler & Associates, Inc................................................ Pg. 30
Coremark Group, LLC............................................................. Pg. 11
TenantSearch........................................................................... Pg. 49
Cullinan Properties, Ltd........................................................... Pg. 20
T-Mobile Real Estate.................................................................. Pg. 7
Dealmakers, The.................................................. Pgs. 40, 42, 47, 53
Urstadt Biddle Properties, Inc.................................................. Pg. 18
DJM Realty................................................................................ Pg. 9
Vanguard Realty, Inc............................................................... Pg. 45
Equity One.............................................................................. Pg. 35
Vanick Properties.................................................................... Pg. 38
Kay Realty Services, LLC . ....................................................... Pg. 26
Welco Realty, Inc.................................................................... Pg. 17
Learning Experience, The........................................................ Pg. 12
Winick Realty Group, LLC.................................................. Pg. IFC, 3
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