Issue 20 for the week of June 9, 1995
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The Dealmakers Issue Number 20 for the week of June 9, 1995.

 

Department Stores Search for Sites

 

Jacobsons Stores, Inc. trades as Jacobsons Stores at 26 locations in MI, OH, IN, FL and KY.  The stores occupy spaces of 50,000 sq.ft. to 120,000 sq.ft. in regional malls, strip and specialty centers.  Preferred anchors include Lord & Taylor.  Plans call for two openings in the coming 18 months.  Expansion will take place in OH, TN, MO or FL.  Preferred demographics include a population of 500,000 within 10 miles having a median income between $40,000 and $75,000.

  For more information, contact Alan Mandel, Jacobsons Stores, Inc., 3333 Sargent Road, Jackson, MI 49201; 517-764-6400, Fax 764-6427.

 

Ira A. Watson Co. trades as Watson's at 28 locations in TN, KY, VA, WV, NC, SC, AL, IN and MO.  The stores occupy spaces of 24,000 sq.ft. to 36,000 sq.ft. in strip centers.  Preferred anchors include Wal*Mart, Kmart and supermarkets.  Plans call for the opening of four units in the coming 18 months.  Expansion will take place in the existing markets as well as OH, GA, IL and MS.  Preferred demographics include a population of 60,000 within 15 miles earning $30,000 as the average income.  Leases running 10 years are typical.

  For more information, contact Sam Watson, Ira A. Watson Co., 200 Hayfield Road, Knoxville, TN 37922; 615-690-6000, Fax 691-5448.

 

Ammar's, Inc. trades as Magic Mart at 18 locations in KY, VA and WV.  The promotional department stores occupy spaces of 42,500 sq.ft. to 80,000 sq.ft. in regional malls, strip centers and freestanding facilities.  Plans call for three openings in the coming 18 months.  Expansion will take place in VA and WV.

  For more information, contact Richard Ammar, Ammar's, Inc., 710 S. College Avenue, Bluefield, VA 24605; 703-322-4686, Fax 326-1060.

 

Pamida, Inc. trades as Pamida at 184 locations in NE, IA, MT, SD, ND, NM, WI, KS, IL, MI, WY, OH, IN and KY.  The discount department stores occupy spaces of 40,000 sq.ft. in strip centers and freestanding facilities.  Plans call for 10 openings in the coming 18 months.  Expansion will take place in the existing markets.  The company prefers to locate its stores in smaller communities.

  For more information, contact Bob Ellison, Pamida, Inc., PO Box 3856, Omaha, NE 68103; 402-339-2400, Fax 393-3230.

 

Baskin's Dept. Stores, Inc. operates nine locations in TX.  The stores occupy spaces of 20,000 sq.ft. in strip centers.  Growth opportunities are sought in the existing market.  Leases running five years are typical.

  For more information, contact Don Baskin, Baskin's Dept. Stores, Inc., 315 Robb Street, Trinity, TX 75862; 409-594-2001, Fax 594-2003.

 

Dayton Hudson trades as Hudson's, Dayton's and Marshall Field's at 63 locations in IL, MI, MN, WI, ND, SD, TX, OH and IN.  The stores occupy spaces of 250,000 sq.ft. in regional malls.  Plans call for five openings in the coming 18 months.  Expansion will take place in the existing markets.

  For more information, contact Jim Elder, Dayton Hudson, 700 On The Mall, Minneapolis, MN 55402; 612-375-2200, Fax 375-6533.

 

 

Buyers & Sellers of Commercial Properties

 

Segbro Construction Corp. is in the market to purchase shopping centers having GLAs between 50,000 sq.ft. and 350,000 sq.ft.  Centers of interest are located in the Northeast and priced between $1 million and $10 million based on a 10% cap rate.  Potential acquisitions should have an occupancy factor of at least 50% and offer future upside.

  For details, contact Ken Segal at (212-974-4667), Fax (957-4718).

 

Metro Commercial Real Estate, Inc. brokered the sale of Marketplace at Rehoboth in Rehoboth, DE.  The 65,000 sq.ft. project is anchored by Food Lion and Happy Harry Drugs.  It was sold to Rojan, Inc. by JEM Development for $4.352 million.  The company also brokered the sale of Ambassador Shopping Center in Philadelphia, PA.  The 13,500 sq.ft. project was sold to KHS Associates by Henry Bienenfeld & Sons for $925,000.

  For details, contact Paul Rumley at (609-866-1900), Fax (866-1611).

 

New Plan Realty Trust recent purchased four shopping centers in MD, PA and IA.  The centers acquired are the 268,000 sq.ft., 98% occupied Haymarket Square in Des Moines, IA, which is anchored by Dahl's Supermarkets, Fashion Bug and Discovery Zone; the 223,000 sq.ft., 89% occupied Haymarket Mall, also in Des Moines, which is anchored by Burlington Coat Factory and Best Buy; the 257,000 sq.ft., 99% occupied York Marketplace in York, PA, which is anchored by Lowe's Home Center, Giant Foods supermarket and Western Auto Supply and the 215,000 sq.ft., 95% occupied Liberty Plaza in Randallstown, MD, which is anchored by Marshalls, Hechingers and F&M Drugs.

  For details, contact Ron Frankel at (212-869-3000), Fax (302-4776).

 

Branch Realty Management recently acquired the 260,000 sq.ft. Four Seasons Mall in Atlanta, GA from MBL Life.

  For details, contact Branch Realty Management at (404-892-0500).

 

Pyramid Cos. recently sold the 1.2 million sq.ft. Silver City Galleria Mall in East Taunton, MA to OTR L.P., an affiliate of the Teachers State Retirement System of Ohio.  The purchase price was $158 million.

  For details, contact Pyramid Cos. at (315-422-7000).

 

Cushman & Wakefield brokered the sale of the 909,000 sq.ft. Colonial Plaza Mall in Orlando, FL.  Cousins/New Market purchased the site from Metropolitan Life.

  For details, contact Stephen Livaditis or David Pepe at (813-223-6300).

 

The David Cronheim Company brokered the sale of Village Shops at Quailbrook in Franklin Township, NJ.  The seller was Talpro 33, L.P. and the buyer was H.H.I.W., Inc.

  For details, contact Peter Wisniewski at (201-635-2180).

 

JBS & Associates, Inc. brokered the auction sale of Union Station in Indianapolis, IN.  The buyer was USA Group, Inc. and the seller was The Balcor Company.  The purchase price was $3.2 million.

  For details, contact JBS & Associates, Inc. at (312-701-0777).

 

Suntide Realty Services, Inc. has the listing to sell five shopping centers in Houston, TX.  The projects have national, credit rated anchors with mid to long term leases and the sites average 66,000 sq.ft.  The properties are priced at an 11% cap based on current income and will be sold either individually or as a package.  An all-cash transaction is preferred.

  For details, contact Kyle Fair at (214-663-9464), Fax (663-9421).

 

HSS Real Estate has the listing to sell Southwest Square in Harvey, IL.  The 61,010 sq.ft. project is anchored by a supermarket and is 100% leased.  The asking price is $1.925 million.

  For details, contact Michael J. Horne at (312-849-2044), Fax (849-2050).

 

Rose Realty has the listing to sell an 8,000 sq.ft., four-unit, fully-leased project on 1.3 acres of land in Hesperia, CA.  The gross income is $30,120.  The asking price is $275,000.

  For details, contact Larry Trombley at (619-244-5481), Fax (244-5051).

 

Keen Realty Consultants, Inc. and Kmart Corporation are selling 51 surplus properties located in shopping centers and freestanding facilities in AL, AZ, CA, FL, GA, IL, IN, KY, MI, NC, NE, NJ, NY, OH, OK, PA, SC, TN, TX and VA.  Sizes range from 40,000 sq.ft. to 117,570 sq.ft.

  For details, contact Keen Realty Consultants, Inc. at (516-482-2703), Fax (482-5764) or Kmart at (810-643-1662), Fax (643-2689).

 

Excell Fund, L.L.C. is in the market to purchased retail shopping centers, having GLAs of at least 100,000 sq.ft., nationwide including smaller towns.  Preferred sites have an occupancy rate of less than 50% and have upside potential.

  For details, contact Steven M. Cersonsky at (303-320-0003), Fax (377-6167).

 

PropertyLink represents a client who is in the market to acquire shopping centers in the Southeastern part of the United States.  Preferred projects have a GLA of at least 100,000 sq.ft., are anchored and have added value.  Rehab sites are acceptable.

  For details, contact Don McCoon at (209-667-1196), Fax (667-1197).

 

Grubb & Ellis represented Northern California Development in the sale of a 130,000 sq.ft. shopping center in North Highlands, CA.  The center is anchored by Raley's Supermarket and other tenants of the project include Clothestime, Blockbuster Video, Radio Shack and Hometown Buffet.  Silver Rim Holdings purchased the project for $13.9 million.  Grubb & Ellis also represented both the buyer and seller in the sale of a 121,000 sq.ft. shopping center in Lake Forest, CA.  The project is anchored by Lucky supermarket and Sav-On drug store.  Nikko Capital, Inc. purchased the project from Continental Markets, Inc. for $12.5 million.

  For details, contact Dixie Walker at (714-937-0881).

 

Keyes Company has the listing to sell two Kmarts in the south.  The stores are net-net-net leased to 2018 and are offered at a 10.25% cap rate.  The company has the listing to sell a newly constructed Walgreens Drug Store in Northern NY state.  The property is leased for 20 years at an annual rent of $270,000.  The asking price is $2.8 million.  The company also has the listing to sell a 172,000 sq.ft. shopping center in Central FL.  The project is anchored by Publix Supermarket, Eckerd Drugs and Big Lots.  The site is 91% occupied and net income is $434,000.  The asking price is $3.95 million.  The company also represents a cash buyer interested in sale-lease backs of franchised restaurants.

  For details, contact Alvin Ackerman at (305-981-8822, Fax (987-6432).

 

Grubb & Ellis Co. has the listing to sell Aurora Square in Seattle, WA.  The 65,348 sq.ft. project is 100% leased.  Tenants include Marshalls, Pier One and Modern Woman.  The project is located adjacent to a 300,000 sq.ft. Sears.  The asking price is $8.025 million.

  For details, contact Ed Watts at (206-623-8901), Fax (682-2942).

 

National Franchise/Tutor Time is in the market to purchase 10,000 sq.ft. buildings or one acre of vacant land nationwide.

  For details, contact Tim Minnette at (305-730-7552, Ext. 1242), Fax (730-7550).

 

Paragon Commercial Real Estate has the listing to sell an 81,000 sq.ft. vacant retail box in Las Vegas, NV.  The site has direct left turn access, an exclusive pylon sign and 1,100 parking spaces.  The asking price is $3.2 million.  The project can also be leased on a NNN basis.

  For details, contact Richard Green at (702-734-3800), Fax (734-3801).

 

C.R. Realty has the listing to sell 100 acres of land in Watertown, NY.  The site is zoned commercial and is served by city sewer, water and gas.  It is located adjacent to Solomon Run Mall, Wal*Mart and Sam's Club on Interstate 81.  The asking price is $35,000 per acre.

  For details, contact John Petrolawicz at (607-786-9916), Fax (786-9741).

 

Westchester Harbor View Realty is in the market to purchase shopping centers in NY, NJ and CT.  Projects of interest have GLAs between 25,000 sq.ft. and 100,000 sq.ft.

  For details, contact Dale Kaufreil at (914-698-8877), Fax (698-9088).

 

Colonial Properties, Inc. has the listing to sell Cromwell Village in Cromwell, CT.  The site is zoned for 85,000 sq.ft. of retail shops and is located at a four-way exit of I-91 at Route 72.  The asking price is $3 million.  The company is also in the market to purchase retail properties.

  For details, contact Stanley Klein at (203-795-8060), Fax (795-8046).

 

 

Who's Opening and Where...

 

Longhorn Steaks, Inc. (404-233-8450) plans to open as many as 47 restaurants by the end of 1997.  The company currently operates 49 locations.

 

Huffman Koos, Inc. (201-343-4300) plans to open a furniture store in Norwalk, CT during September.  The company also recently reopened its Bridgewater, NJ store.  The company currently operates 12 stores in NJ and NY.

 

Quizno's Franchise Corp. (303-368-9424) recently signed franchise agreements with two area directors to develop the Cincinnati, OH-Lexington, KY area and western Kansas area.  Christopher Stuart was named area director to develop 78 Quizno's Classic Sub restaurants in the Cincinnati-Lexington area over the next five to 10 years and Anne Groth and Jan Rivard were named area directors to develop 23 restaurants in the western Kansas area over the next five to 10 years.  Currently, Quizno's operates 73 restaurants in 12 states.

 

Act III Theatres (503-221-0213) plans to construct an 11-screen movie theater at Boulder Station Casino in Las Vegas, NV.  The company is also planning to develop a theater at the soon-to-be constructed Sunset Station Hotel & Casino in Las Vegas.  The company also plans to open a 900-seat movie theater in a restored 1920s movie house in downtown Eugene, OR this month.

 

Borders Books (313-995-9702) plans to open its first bookstore in CO at the Centennial Promenade near Denver.  The store is expected to be opened before Christmas.

 

Barnes & Noble (212-633-3311) recently opened a bookstore in Pittsfield, NY.

 

Whole Foods Market (713-661-7753) recently opened its first supermarket in St. Paul, MN.

 

Target (612-370-6163) plans to open a 117,000 sq.ft. store in San Antonio, TX and is planning to open up to eight stores in UT.  Among the cities in UT expecting a Target store are Sandy, Centerville, Orem, Layton, West Jordan, West Valley, Ogden and Salt Lake City.

 

Doll City (714-750-3585) plans to open a toy store in Southern CA this year.

 

Barn Stores (303-292-0500) plans to open a convenience store in CO this year.  The company currently operates 17 stores in CO.

 

Gander Mountain, Inc. (414-862-2344) recently opened sporting goods stores in LaCrosse, WI, Grand Rapids and Saginaw, MI.  The company currently operates 12 stores in WI, MI, MN and IN and is planning to have 17 stores operating by the end of this year.

 

HomeBase (714-442-5000) plans to open a 109,505 sq.ft. home improvement warehouse with a 25,000 sq.ft. exterior nursery in Highlands Ranch, CO during Spring 1996.  The company currently operates 79 locations in 10 western states.

 

Starbucks Coffee Co. (206-447-4285) recently opened its first Philadelphia, PA coffee shop.

 

Art Van Furniture (810-939-0800) plans to open stores in Dearborn, Battle Creek, Bay City and Howell, MI and plans to enlarge its stores in Royal Oak, Drayton Plains, Warren, Taylor, Westland, Shelby Township and Muskegon, MI.  When the expansion is completed, the company will operate 26 stores and 22 clearance outlets.

 

Striglos-Haines and Essick (217-429-4374) plans to open a store in IL this year.  The company currently operates four units in IL selling books, gifts, cards and decorative accessories.

 

Brendle's (919-526-5600) plans to relocate its Chapel Hill, NC store to Cary, NC during the fall.  The company, which sells jewelry, electronics, housewares, sporting goods, toys and gifts, currently operates 30 stores in NC, SC, VA and TN.

 

Summit Family Restaurants, Inc. (801-974-4416) recently opened a 1950s-themed restaurant, named Galaxy Diner, in Boise, ID.  The company currently operates 81 company-owned and 22 franchised JB's Restaurants, six Galaxy Diner restaurants and 14 HomeTown Buffet restaurants in nine western states.

 

Sears (708-286-2500) recently opened a Sears Hardware store in Houston, TX and is planning to open three more hardware stores in Houston by January 1996.

 

Hollywood Video (503-677-1600) recently opened two video stores in Houston, TX.

 

Bigsby & Kruthers (312-440-1701), a men's clothier, recently opened a new concept store called Bigsby for Women at Northbrook Court in Northbrook, IL.

 

Shoe Carnival (812-867-4105) plans to open 10 stores this year.  The company currently operates 89 stores in the Midwest and Midsouth.

 

BIG Entertainment, Inc. (407-998-8000) recently opened a Tekno-Comix Entertainment Kiosk at Rosedale Mall in Roseville, MN.  The kiosk carries comic books and comic related merchandise and features a video band with 16 individual televisions.  BIG Entertainment currently operates eight similar kiosks in MN, VA and FL.

 

The Barbers Hairstyling for Men & Women, Inc. (612-331-8500) recently opened its 600th Cost Cutters salon.  The salon is located at the Daphne Wal*Mart Super Center in Daphne, AL.

 

Cogo's Co. (412-257-1550) plans to open a Cogo's Stores Convenience store in Pittsburgh, PA this year.  The company currently operates 61 stores in the greater Pittsburgh area.

 

Volunteer Capital Corporation (615-269-1900) plans to build a 7,500 sq.ft., 230-seat J. Alexander's restaurant in Toledo, OH.

 

The Village Green Bookstore, Inc. (716-442-1151) recently opened a bookstore at Glen Eagle Shopping Center in Glen Mills, PA and is planning to open additional units in the metropolitan New York City area and in Western NY state.  The company currently operates nine bookstores throughout the Northeast.

 

 

Lease Signings

 

Metro Commercial Real Estate, Inc. (609-866-1900) leased 37,500 sq.ft. to Marshalls at The Plaza at Cherry Hill in Cherry Hill, NJ and leased an additional 10,000 sq.ft. to Marshalls to its 21,000 sq.ft. location at Valley Forge Center in Valley Forge, PA.

 

KLNB, Inc. (410-321-0100) leased 3,000 sq.ft. to Rent-A-Center at East River Park Shopping Center in Washington, D.C.; 4,500 sq.ft. to Blockbuster Video at Southside Marketplace in Baltimore, MD and 1,500 sq.ft. for a jewelry store at Dogwood Station shopping center in Baltimore County, MD.

 

Baita Property Services, Inc. (904-739-2208) leased 2,400 sq.ft. to World Cup Karate Do at Oak Park Shopping Center in St. Cloud, FL; 1,200 sq.ft. to T&H Nail at 103rd Street Family Center in Jacksonville, FL; 1,125 sq.ft. to All Nails, 1,125 sq.ft. to Ocean Springs Dry Cleaners and 2,625 sq.ft. to What's New? Pussycat at Ocean Springs Shopping Village in Melbourne, FL.

 

Mid-America Real Estate Group (708-954-7300) leased 15,305 sq.ft. to Mac Frugal's at Orland Greens Shopping Center in Orland Park, IL.

 

Neal*Mannausa (813-365-1511) leased 1,200 sq.ft. to Beverly Hills Weight Loss and Wellness at Charlotte Square Shopping Center in Port Charlotte, FL.

 

Duke Realty Investments (317-846-4700) leased 2,400 sq.ft. to Oriental Health Cuisine at Cub Center in Indianapolis, IN and renewed a lease for 4,800 sq.ft. to Bedding Liquidators at Greenwood Corner Shops also in Indianapolis.

 

Boyd, Page & Associates (713-877-8400) leased 6,759 sq.ft. to Smith & Hawkin for a specialty gardening store at a freestanding location in Houston, TX.

 

Jones Lang Wootton Retail Management, Inc. (214-931-9565) leased space to Kathy James, Discount Cellular and Paging and Chess King at South Park Mall in San Antonio, TX; Kay Bee Toys and Pro's Choice at Richland Mall in Waco, TX and Regis, Binyon's, Wilson's Leather, Mark's Hallmark, Kitchen Kaboodle and Fred Meyer at Clackamas Town Center in Portland, OR.

 

Brandywine Real Estate Management Services Corporation (813-726-6880) leased 6,000 sq.ft. to Dollar General and 2,250 sq.ft. to Jenny Craig at Keene Plaza in Largo, FL; 2,000 sq.ft. to Jenny Craig and 2,000 sq.ft. to Supercuts at Northwood Oaks in Clearwater, FL; 5,000 sq.ft. to NAPA Auto Parts at Brook Plaza in Brooksville and 5,875 sq.ft. to One Stop Auto in Dade City.

 

Aries Deitch & Endelson, Inc. (914-949-2800) leased 40,700 sq.ft. to Bob's Store at 1019 Central Park Avenue in Scarsdale, NY.

 

The Koll Company (312-984-1010) leased 3,533 sq.ft. to The Card Shop, 2,940 sq.ft. to Athletic Fitters, 2,297 sq.ft. to Galveston's Grill, 617 sq.ft. to Enzo's Pizza and 945 sq.ft. to Calico Jewelry at Lincoln Square Mall in Champaign-Urbana, IL.

 

Western Investment Real Estate Trust (916-791-0600) leased 1,200 sq.ft. to Mr. Cash at Park Place Shopping Center in Vallejo, CA; 975 sq.ft. to TVN Sports for a sports cards and sports memorabilia store at Victorian Walk Shopping Center in Fresno, CA; 1,406 sq.ft. to Essentials for a beauty salon at Caughlin Ranch Shopping Center in Reno, NV and 2,590 sq.ft. to Freeman's Treasure Chest for a gift and collectible store and 1,700 sq.ft. to Computer Junction at Eagle Station Shopping Center in Carson City, NV.

 

Neal Realty & Investments, Inc. (305-568-0530) leased 1,600 sq.ft. to Brooks Mutual Salon Services, Inc. at Boulevard Shoppes II in Lauderhill, FL; 1,650 sq.ft. to Kosher Butcher in Lauderdale Lakes, FL; 1,484 sq.ft. to Bridal World at Lakeside Plaza in Tamarac, FL and 1,500 sq.ft. to The Tint Shoppe at McNab 7 Plaza in North Lauderdale, FL.

 

Solomon Associates (215-564-8200) leased 12,000 sq.ft. to Bryn Mawr Stereo at the Montgomery Mall in Montgomeryville, PA; 7,500 sq.ft. to The Party Supermarket at the Fairless Hills Shopping Center in Fairless Hills, PA; 3,300 sq.ft. to Edison Bros. at Buten Plaza in Cherry Hill, NJ and 14,000 sq.ft. to Discovery Zone at Eastern Boulevard Plaza in York, PA.

 

 

Lead Sheet

 

General Textiles

dba Family Bargain Center

Donna Lewis

4000 Ruffin Road

San Diego, CA 93123

619-627-1800, Fax 637-4199

 

Apparel

The 98-unit chain operates locations nationwide.  The stores, selling licensed team apparel and sports memorabilia, occupy spaces of 8,000 sq.ft. to 12,000 sq.ft. in downtown store fronts, strip centers and freestanding facilities.  Plans call for 14 openings in the coming 18 months.  Expansion will take place in WA, OR, CA, NM, AZ and NV.  In the next three years, the company plans to look for sites in eastern ID and El Paso, TX.  Leases running five to 10 years with options are typical.

 

Pennsylvania Fashions, Inc.

dba The Fashion Factory, $9.99 Stores, Rue 21

Eugene Klein or Kim Wiesmann

155 Thornhill Drive

Warrendale, PA 15086

412-776-9780, Fax 776-4111

 

Apparel

The 148-unit chain operates locations in NH, NC, NJ, FL, TN, KY, AL, IL, NY, PA, VA, WV, OH, MI, IN, MS and GA.  The stores, offering apparel at off-prices, occupy spaces of 3,000 sq.ft. to 4,000 sq.ft. in regional malls, outlet and strip centers.  Plans call for 20 openings in the coming 18 months.  Expansion will take place in the existing markets.  Leases running five to 10 years are typical.

 

Oliver & Winston Inc.

dba Winston Tire Co.

Jacques Hunter

900 W. Alameda Avenue

Burbank, CA 91506

818-972-1200, Fax 848-5762

 

Automotive

The 170-unit chain operates locations in CA.  The stores, offering automotive repairs and tire service, occupy spaces of 4,400 sq.ft. in freestanding facilities.  Plans call for up to 10 openings in the coming 18 months.  Expansion will take place in CA and AZ.  Preferred demographics include a population of 50,000 within four miles.  Leases running 10 to 15 years are typical.

 

The Book Emporium, Inc.

dba Seidler's Hallmark, Book Emporium

Nancy Seidler

1301 S.W. Washington Street

Peoria, IL 61602

309-673-2327, Fax 673-8883

 

Books

The 16-unit chain operates locations in IL and IA.  The stores, selling books, cards, gifts and magazines, occupy spaces of 3,500 sq.ft. to 5,000 sq.ft. in strip and specialty centers.  Plans call for one opening in the coming 18 months.  Expansion will take place in IL, but not in the Chicago area.  Preferred demographics include a population of 25,000 within 10 miles earning $40,000 as the average income.  Leases running five years are typical.

 

Young Oil, Inc.

dba Grub Mart

Brian Young

104 Memorial Drive

Piedmont, AL 36272

205-447-9087, Fax 447-9089

 

Convenience Store

The 57-unit chain operates locations in AL.  The stores occupy spaces of 2,500 sq.ft. in freestanding facilities.  Preferred anchors include Wal*Mart and Kmart.  Plans call for two openings in the coming 18 months.  Expansion will take place in Northeast AL.  Leases running 15 years with options are typical.

 

Stop & Shop Companies, Inc.

dba Bradlees

John D. Dowling

1 Bradlees Circle

Braintree, MA 02184

617-380-5863, Fax 380-8309

 

Discount

The 128-unit chain operates locations in ME, NH, MA, NY, VA, PA, NJ and RI.  The stores occupy spaces of 94,000 sq.ft. to 100,000 sq.ft. in regional malls, power and strip centers and well as freestanding facilities.  Preferred anchors include supermarkets.  Growth opportunities are sought in the existing markets.

 

Institutional Sales Corp.

dba Exercise Experience

Howard Pinsker

7171 22nd Avenue N.

St. Petersburg, FL 33710

813-344-4091, Fax 343-4264

 

Fitness

The nine-unit chain operates locations in South and Central FL.  The stores, selling fitness specialty products, occupy spaces of 2,000 sq.ft. to 2,500 sq.ft. in specialty centers.  Preferred anchors include weight loss centers, health food stores, sporting goods stores and health clubs.  Plans call for two openings in the coming 18 months.  Expansion will take place in Southern FL.  Preferred demographics include a population of 100,000 within five miles earning $50,000 as the average income.  Leases running three years are typical.

 

Grace's, Inc.

dba Helen Grace Chocolates

Kathy Fuller

18500 Von Karman Avenue #150

Irvine, CA 92715

714-851-5100, Ext. 377, Fax 261-9092

 

Food

The nine-unit chain operates locations in CA.  The stores, selling fine chocolate, candy and related gifts, occupy spaces of 500 sq.ft. to 1,200 sq.ft. in specialty, power and strip centers.  Preferred anchors include Edward's and Wal*Mart.  Plans call for three openings in the coming 18 months.  Expansion will take place in Southern CA.  Preferred demographics include a population of 350,000 within five miles earning $50,000 as the average income.  Leases running five years are typical.

 

Seawest Sub Shops, Inc.

dba Seawest Sub Shops

Brick Brunton

1 Lake Bellevue Drive

Bellevue, WA 98005

206-453-5216, Fax 454-7951

 

Food

The 81-unit chain operates locations in WA, OR, CA, ID, MT, MO and GA.  The fast food restaurants, serving submarine sandwiches, pizza, soup and salads, occupy spaces of 300 sq.ft. to 1,200 sq.ft. in downtown store fronts, power and strip centers.  Preferred anchors include Blockbuster Video.  Plans call for 100 openings in the coming 18 months.  Expansion will take place in the Western U.S.  Leases running five years with a five-year option are typical.  The company is franchising.

 

The Cutters, Inc.

dba Bo-Rics Hair Care

Kevin Lambing

1350 Provincial Road

Windsor, Ontario, CN N9A 6J3

519-966-2626, Fax 966-2624

 

Hair Salon

The 330-unit chain operates locations nationwide.  The salons occupy spaces of 1,200 sq.ft. in strip centers.  Preferred anchors include supermarkets, drug stores, Kmart and Wal*Mart.  Plans call for 75 openings in the coming 18 months.  Expansion will take place in the Midwest.  Preferred demographics include a population of 40,000 within two miles earning at least $30,000 as the average income.  Leases running five years are typical.

 

Supercuts

Andrew Dieringer

c/o Greenberg Group, Inc.

1200 W. Broadway

Hewlett, NY 11557

516-295-0406, Fax 374-0999

 

Hair Salon

The 1,100-unit chain operates locations nationwide.  The salons occupy spaces of 1,000 sq.ft. to 1,500 sq.ft. in downtown store fronts, specialty and strip centers as well as freestanding facilities.  Plans call for 100 openings in the coming 18 months.  Expansion will take place in NY, NJ and CT.  Preferred demographics include a population of 50,000 within five miles earning at least $35,000 as the average income.  Leases running five years are typical.  The company is franchising.  The Greenberg Group, Inc. is the exclusive agent for the metro NY area only.

 

Brodkey Jewelers, Inc.

dba Brodkey Jewelers

Ron Brodkey

12165 W. Center Road/ Suite 73

Omaha, NE 68144

402-330-9800, Fax 697-0603

 

Jewelry

The 10-unit chain operates locations in IA and NE.  The stores occupy spaces of 1,000 sq.ft. to 1,200 sq.ft. in regional malls.  Preferred anchors include Lord & Taylor.  Plans call for three openings in the coming 18 months.  Expansion will take place in the existing market.  Preferred demographics include a population of 200,000 within 40 miles earning $48,000 as the average household income.  Leases running 10 years with a five-year option are typical.

 

Perfecta Camera Corp.

Charles Zoulias

49 Harvey Road

Londonderry, NH 03053

603-432-0501, Fax 434-2689

 

Photo

The 26-unit chain operates locations in MA, ME, NH, NY and VT.  The camera stores occupy spaces of 800 sq.ft. to 2,000 sq.ft. in regional malls, power and strip centers.  Plans call for the opening of four units in the coming 18 months.  Expansion will take place in the existing markets as well as CT.  Preferred demographics include a population of 150,000 within five miles earning an average of at least $35,000.  Leases running five to 10 years are typical.

 

Family Golf Centers, Inc.

dba Jack Nicklaus Golden Bear Golf Centers

Joe Graham

c/o Northwest Atlantic Partners

709 Westchester Avenue/ Suite 103

White Plains, NY 10604

914-328-2222, Fax 328-2121

 

Specialty

The nine-unit chain operates locations in NY, CT, NJ, CA, SC and PA.  The golf learning centers occupy a land area of 14 acres.  Secondary positions in primary centers are preferred.  Growth opportunities are sought in the Northeast, CA, WA, NC and SC.  Preferred demographics include a population of 250,000 within five to 10 miles earning between $37,000 and $90,000 as the average income.  Leases running 30 years with three five-year options are typical.

 

Van Leunen's, Inc.

dba All About Sports

Stan Johnson

621 Wilmer Avenue

Cincinnati, OH 45226

513-533-2700, Fax 321-5884

 

Sporting Goods

The 12-unit chain operates locations in OH and KY.  The stores occupy spaces of 32,000 sq.ft. to 35,000 sq.ft. in power centers.  Growth opportunities are sought in the existing markets.

 

Penn Traffic Company

dba Big Bear, Big Bear Plus

Jeff Dortmund

770 W. Goodale Boulevard

Columbus, OH 43212

614-462-6805, Fax 462-6800

 

Supermarket

The 94-unit chain operates locations in OH and WV.  The stores occupy spaces of 36,000 sq.ft. to 70,000 sq.ft. in strip centers.  Plans call for 10 openings in the coming 18 months.  Expansion will take place in the existing markets.

 

TPI of IL

dba Dollar Bills

Ric Smith

2500 International Parkway

Woodbridge, IL 60517

708-972-3000, Fax 972-3028

 

Variety

The 127-unit chain operates locations in OH, IL, IN, WI, MD, PA, VA, IA, GA, TN, AL, MI, MO and MN.  The stores occupy spaces of 4,000 sq.ft. in power and strip centers.  Preferred anchors include supermarkets and discount stores.  Growth opportunities are sough in IA, NE, IL, IN, KS, WI, OH, MI, MN, SD, MO and MD.  Preferred demographics include a population of 50,000 within three miles earning $35,000 as the average income.  Leases running five years are typical.

 

 

New Construction

 

Homart Development Corp. is developing two shopping centers in GA.  The first is Perimeter Pointe, a 367,800 sq.ft. project located in Fulton County, just outside of Atlanta.  Tenants for the project include HomePlace, Steinmart, Petstuff, Bertucci's restaurant and a 10-screen United Artists Theater.  Space is also available for additional anchor tenants, two outparcel tenants and 35,000 sq.ft. of small shops.  The project is expected to open during the fall.  The second project under construction is the 279,800 sq.ft. Town Center Prado project in Marietta.  Tenants for phase one of the project include a Publix Supermarket, Barnes & Noble, PetStuff, Sport Shoe and Zany Brainy.  Space is available for three additional anchor tenants, four outparcel tenants and 31,000 sq.ft. for small shops.  The site is expected to open late summer.  Phase two of the project, to be constructed at a later date, will have space for one additional anchor and approximately 7,800 sq.ft. for small shops.

  For more information, contact Homart Development Company at (312-551-5000).

 

The Mills Corporation recently announced its equity partner, Kan Am US, Inc., and several anchor tenants for its 1.8 million sq.ft. Chandler Mills outlet mall in Chandler, AZ.  The project is expected to open during spring 1997.  Anchor tenants for the project include Burlington Coat Factory, occupying 80,000 sq.ft.; Totally 4 Kids, taking 75,000 sq.ft.; Marshalls, using 40,000 sq.ft.; T.J. Maxx, in 35,000 sq.ft.; Bed Bath and Beyond, occupying 40,000 sq.ft.; Sports Authority, taking 50,000 sq.ft.; Korean Factory Outlet, in 100,000 sq.ft.; Waccamaw, using 55,000 sq.ft. and Arizona Stores, Inc., occupying 30,000 sq.ft.  Chandler Mills will also include a 105,000 sq.ft., 21-screen Edwards Theaters, a 60,000 sq.ft. Hockeyland skating rink and a 700,000 gallon Tariton Aquastar Underwater World Aquarium.

  For more information, contact The Mills Corporation at (202-298-5089).

 

SCC Development Corporation recently broke ground on Northchase Shopping Center, a 150,000 sq.ft. center located on the southeast corner of FM1960 and Veteran's Memorial Drive.  The project will be anchored by a 55,500 sq.ft. Albertson's supermarket, a 21,000 sq.ft. Sears Hardware store and a 12,000 sq.ft. Petco Pet Food & Supplies store.  Pad sites have been leased to Beck's Prime for a 3,000 sq.ft. restaurant and to Hollywood Video for a 7,500 sq.ft. store.  Approximately 30% of the project remains to be leased and it is expected to open during the fall.

  For more information, contact SCC Development at (713-627-7460

 

 

Exclusives: Leasing & Management Assignments

 

Jones Lang Wootton Retail Management, Inc. (214-931-9565) has been awarded the management and leasing contract for Westchester Pavilion in White Plains, NY.  The 173,698 sq.ft. project is anchored by The Sports Authority, Toys 'R Us, OfficeMax and Borders Books and Music.  The company was also awarded the management and leasing contract for Waterside Shops in Naples, FL.  The 234,697 sq.ft. project is anchored by Saks Fifth Avenue and Jacobson's.

 

MJB Real Estate Services Corp. (203-222-6200) has been appointed exclusive management agent for Waterview Plaza in Milford, CT.  The 20,000 sq.ft. project is anchored by TCBY, Dunkin Donuts, Play It Again Sports and Affordable Fabrics.

 

 

Financial News...

 

Barnes & Noble, Inc. (212-633-3451) reported that revenues for the first quarter of 1995 increased 25.5% to $402 million, up from $320.3 million for the first quarter of 1994.  Results of operations for the quarter increased 22.7% to a net loss of $5.3 million, from a loss of $6.8 million for the first quarter of last year.  The company also reported that comparable sales for its superstores increased 11.6% during the first quarter, but comparable sales for its mall bookstores fell 2.9%.  During the quarter, the company opened 11 superstores and currently operates 278 superstores under the tradenames of Barnes & Noble, Bookstop and Bookstar.  The company also operates 688 mall bookstores under the tradenames B. Dalton Bookseller, Doubleday Book Shops and Scribner's Bookstores.

 

Charming Shoppes (215-245-9100) reported a net loss of $4.37 million for the first quarter of 1995.  Last year, the company posted a net loss of $13.955 million during the first quarter.  Sales for the first quarter of 1995 decreased to $244.342 million from $297.611 million during the first quarter of 1994.  During the quarter, the company opened 11 stores and closed 23 stores.  The company currently operates 1,416 stores in 46 states under the tradenames Fashion Bug and Fashion Bug Plus.

 

Stuarts Department Stores, Inc. (508-520-4540) recent filed  Chapter 11 and entered into a debtor-in-possession financing arrangement with its lender, Foothill Capital Corporation, for a $6 million credit facility.

 

Hechinger Company (301-341-0443) reported that net earnings for the first quarter of 1995 were $1.2 million, down from $4.6 million for the same period last year.  Sales for the first quarter declined four percent to $553.2 million, down from $574.3 million last year.  The company also reported that comparable store sales fell two percent during the quarter as well.  The company currently operates 70 Hechinger stores and 49 Home Quarters Warehouse stores in 21 states and Washington, D.C.

 

Ames Department Stores, Inc. (203-257-2659) announced that its net loss for the first quarter of 1995 fell to $11.1 million from $15.1 million during the same period last year.  Net sales for the first quarter of 1995 increased 1.4% to $441.7 million from $435.8 million during the same period last year.  The company also reported that comparable store sales for the first quarter increased two percent to $439.9 million, up from $431.2 million, based on 304 stores, for the same period last year.  The company operates 305 stores in 14 states and Washington, D.C.

 

Staples Inc. (508-370-8727) announced that sales during the first quarter of 1995 increased 68% to $669 million from $398 million during the same period last year.  The company added that operating income increased 126% to $19.7 million from $8.7 million and net income increased 140% to $7.9 million from $3.3 million during the first quarter this year.  The company also reported that comparable sales in the 271 stores open for more than one year increased 23% during the first quarter.  The company currently operates 371 stores throughout North America.

 

Hills Stores Company's (617-821-1000) Board of Directors recently rejected a $25 per share acquisition proposal from Dickstein Partners, Inc.  However, Dickstein Partners, Inc. responded to the rejection by upping its proposal to $27 per share ($22 per share in cash and $5 per share in debt).  Hills currently operates 156 stores in 11 states.

 

The Cato Corporation (704-551-7266) reported that its net income for the first quarter of 1995 was down seven percent to $7.498 million from $8.21 million during the same period last year.  However, the company reported that total revenues for the first quarter increased four percent to $117.8 million from $113.1 million during 1994.  During the quarter, the company opened 12 new stores and relocated and expanded 10 others.  It also closed two locations.  The company currently operates 656 locations in 22 states under the tradenames Cato Fashion/Cato Plus and It's Fashion!

 

The Home Depot (404-433-8211) reported that earnings for the first quarter of 1995 increased 13% to $157.765 million compared to $139.734 million for the same period in 1994.  Sales for the first quarter of 1995 were up 24% to $3.568 billion, compared to $2.872 billion for the same period last year.  The company also reported that comparable store sales increased five percent during the first quarter.  During the quarter the company opened 19 stores and relocated three others.  The company currently operates 359 locations throughout North America.

 

Carson Pirie Scott & Co. (414-347-5306) reported that sales for its fiscal quarter ended April 29 decreased 2.6% to $249.4 million compared to $256 million for the same period last year.  Earnings  for the fiscal quarter also declined to $9.2 million from $11.3 million.  First quarter comparable store sales increased 3.6%.  The company currently operates 51 department stores and two furniture stores under the tradenames Carson Pirie Scott, Bergner's and Boston Stores.

 

Wal*Mart Stores, Inc. (501-273-4000) reported that sales for the first quarter of 1995 reached a record $20.44 billion, an increase of 16% over the same period last year.  Net income for the quarter was $553.379 million, up 11% from $498.456 million last year.  Breaking down its results by divisions, the company reported that first quarter sales in its Wal*Mart division, including supercenters, increased 16% to $14.466 billion from $12.486 billion in 1994.  First quarter sales in the Sam's Division increased six percent to $4.394 billion, up from $4.160 billion, and sales in its International Division jumped 389% to $602 million, up from $123 million.  The company plans an aggressive expansion of two of its divisions in the coming year.  The company is looking to open up to 100 stores in both its discount store division  and its superstore division.  About 85 of the new superstores will be relocations or conversions.  Currently, the company operates 1,984 Wal*Mart stores, 162 Supercenters, 430 Sam's Clubs, 126 Canadian Wal*Mart stores, three Hong Kong Value Clubs and 106 Mexican stores.  The company recently entered the South American market when it opened a Sam's Club in Brazil last month.

 

JC Penney Company, Inc. (214-431-1000) reported that net income for the first quarter of 1995 decreased to $156 million, compared to $223 million during the same period in 1994.

 

Kohl's Corporation (414-783-5800) reported that sales for the first quarter of 1995 increased 19.7% to $368.4 million, up from $307.8 million for the same period last year.  Comparable store sales for the first quarter increased 3.4%.  Net income was reported at $11.8 million, compared to $11.3 million last year.  The company currently operates 109 stores.

 

Consolidated Stores Corporation (614-278-6810) announced that net income for the first quarter of 1995 increased 25% to $3 million, up from $2.4 million last year.  Sales for the first quarter were reported at $291.8 million, up 20% over 1994's sales figures of $242.3 million.  The company also reported that comparable store sales for stores open two full years increased 4.3%, compared to a 0.5% decrease last year.  The company currently operates 780 stores in 38 states under the tradenames Odd Lots/Bigs Lots, iTZADEAL!, All for One, It's Really $1 and Toy Liquidators/Toys Unlimited.

 

Kmart Corporation (810-643-1000) reported that sales for the first quarter of 1995 were $7.8 billion, up 8.1% over 1994's first quarter figures of $7.22 billion.  In the United States, store sales increased 9.1% on the strength of a 6.5% gain in comparable store sales, the best performance since 1985.  The company currently operates 4,000 locations under the tradenames of Kmart, Builders Square and Borders Group.

 

Phar-Mor, Inc. (216-746-6641) plans to close 41 stores before it emerges from Chapter 11, leaving the company with 102 stores.  The company also announced plans to open 36 new stores over the next four fiscal years.  Stores are expected to closed in FL (17), IN (8), NV (3), MO (3), SC (2), AL, IA, IL, KY, NC, SD, TN and VA.

 

Ben Franklin Retail Stores, Inc. (708-462-6100) reported that net income for fiscal year 1995 ended March 31 increased to $1.6 million from $1.1 million in fiscal 1994.  Net sales for FY95 increased five percent to $354.8 million, compared to $337.9 million in FY94.  During FY95, the company opened 19 company-owned Ben Franklin Craft Superstores and 49 franchised stores.

 

Today's Man, Inc. (609-235-5656) reported that sales for the first quarter of 1995 increased 48% to $57.7 million, up from $39 million for the same period last year.  Net income for the quarter increased 120% to $173,800 from $79,100 last year.  The company also reported that comparable store sales during the first quarter increased 19%.  The company currently operates 33 superstores and one outlet store.

 

Deb Shops, Inc. (215-676-6000) reported that net sales for the first quarter of 1995 declined to $39.101 million from $43.315 million during the same period last year.  The company also reported a net loss of $2.299 million for the first quarter of this year compared to a net loss of $1.605 million last year.

 

Gap, Inc. (415-952-4400) reported that net income fell 21% to $50.1 million for the first quarter of 1995 compared to $63.5 million for the first quarter of 1994.  However, net sales increased 13% to $849 million from $752 million last year.  The company also reported a first quarter decrease of two percent in comparable store sales, compared to a seven percent increase in 1994.  The company currently operates 1,535 stores under the tradenames Gap, Banana Republic, GapKids and Old Navy.

 

F&M Distributors, Inc. (810-758-1400) reported that sales for the first quarter of 1995 were $119.243 million at 88 stores compared to $176.674 million at 126 stores last year.  Net loss for the first quarter was $16.036 million, compared to a net loss of $3.691 million last year, and comparable store sales fell 17% in the first quarter.  The company currently is operating under Chapter 11.

 

PETsMART Inc. (602-944-7070) announced that net sales for the first quarter of 1995 increased 38.3% to $178.1 million, up from $128.8 million for the same period last year.  Net income for the first quarter was reported at $4.096 million compared to a net loss of $4.753 last year, while comparable stores sales increased 14.8%.  The company currently operates 187 superstores in 24 states.

 

 

Space Place

 

Arizona

 

Chandler-  Mervyn's Plaza is anchored by Mervyn's.  The project has a 25,159 sq.ft. former Marshalls store available for lease.  The site fronts Elliot and Alma School Road.

  For details, contact Amanda Andrade of Marshalls at (508-474-7341).

 

Tuscon-  A 3,125 sq.ft. former Fitting Image store is available for lease at El Con Shopping Center.

  For details, contact Denni Strozewski of The Fitting Image at (800-487-4882), Fax (617-422-6212).

 

Florida

 

Dade City-  Dade Village is anchored by Beall's, Big Lots and Walgreens.  The project has a supermarket space between 20,000 sq.ft. and 29,525 sq.ft. available for lease.  In Largo-  Keene Plaza is anchored by Winn Dixie and Eckerd Drugs.  The project has two 1,500 sq.ft. spaces available for lease as well as a bank building outparcel of 14,000 sq.ft.  In Clearwater-  Northwood Oaks is anchored by Kash N Karry and Walgreens.  The project has a 3,500 sq.ft. end cap and a 6,000 sq.ft. space available for lease.

  For details, contact Paul Ajdaharian of Brandywine Real Estate Management Services Corporation at (813-726-6880), Fax (725-4391).

 

Illinois

 

Elgin-  Space is available for lease in a 10,000 sq.ft. shopping center currently under construction.  Tenants at the site include The Associates, Dunkin Donuts, Baskin Robbins, a drycleaners and a jewelry store.  The project is located across from Otter Creek Shopping Center which is anchored by Target, Omni, Handy Andy, SoFro Fabrics, Famous Footwear, Kay-Bee Toys and Payless ShoeSource.  In Glendale Heights-  Meadowbrook Center is anchored by an Italian restaurant, a drycleaners, a hair salon, a dentist and chiropractor.  The project has spaces from 992 sq.ft. available for lease.  The site is located three miles west of I-355.  Demographics include a five-mile population of 250,000 earning $65,000 as the average household income.

  For details, contact Carolyn A. Rakunas of Equity Attainment, Inc. at (708-325-3200), Fax (325-3317).

 

Michigan

 

Hillsdale-  Hillsdale Crossing is anchored by Wal*Mart.  The 212,000 sq.ft. project has a 50,000+sq.ft. supermarket space available for lease as well as retail spaces from 1,200 sq.ft. to 18,000 sq.ft.  The site fronts M-99 and Lake Wilson Road which generate a daily traffic count of 14,000 cars.  Demographics include a three-mile population of 5,280 earning 34,136 as the average income, a five-mile population of 14,426 earning $36,542 as the average income and a 10-mile population of 56,639 earning $37,202 as the average income.

  For details, contact Fred Zehnder of Crown Enterprises at (800-334-4882, Ext. 2945), Fax (810-755-9348).

 

Waterford-  Fire Bird Plaza is anchored by ABC Appliance.  The project has spaces of 12,000 sq.ft. and 15,000 sq.ft., of which up to 25,000 sq.ft. can be contiguous, as well as a 3,000 sq.ft. pad site for a build-to-suit.  The site fronts Elizabeth Lake Road which generates a daily traffic count of 20,804 cars and is located near Summit Place Mall and Oakland Pointe.  Demographics include a three-mile population of 86,368 earning $31,105 as the average income and a five-mile population of 165,512 earning $44,763 as the average income.

  For details, contact Eric Olson of Cody Olson, Inc. at (810-745-1900), Fax (745-1909).

 

Wisconsin

 

Janesville-  Creston Park Shopping Center is anchored by Dunham Sports, Snyder Drugs and Office 1 Superstore.  A space for a 25,000 sq.ft. to 30,000 sq.ft. tenant is available for lease.  Demographics include a three-mile population of 47,000 earning $43,000 as the average household income and a five-mile population of 60,000 earning $43,900 as the average household income.

  For details, contact Tom Baggot of Odana Management at (608-271-4606), Fax (271-8731).