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The
Dealmakers Issue Number 23 for the week of June 30, 1995. Shoe
Tenants Size-Up Expansion Plans Marty
Shoes, Inc. trades as Marty Shoes at 50 locations in NY, NJ, PA and CT. The stores, which also sell handbags and hosiery,
occupy spaces of 5,000 sq.ft. in outlet and strip centers as well as freestanding
facilities. Preferred anchors include T.J.
Maxx. Plans call for up to 12 openings in the
coming 18 months. Expansion will take place
in NY and NJ. Leases running 15 years are
typical. For more information, contact Robert Schmidt,
Marty Shoes, Inc., 60 Enterprise Avenue North, Secaucus, NJ 07094; 201-319-0500, Fax
319-1446. Famous
Brand Shoes operates 40 locations in AL, IL, KS, MI, MO, OH and TX. The stores occupy spaces of 2,500 sq.ft. to 5,000
sq.ft. in strip centers. Growth opportunities
are sought in the existing markets. For more information, contact Robert Brennan,
Famous Brand Shoes, 8620 Olive Street, St. Louis, MO 63132; 314-991-4120, Fax 991-2048. Houser
Shoes, Inc. trades as Houser Shoes and The Shoe Store at 20 locations in NC, SC, TN, VA
and GA. The stores occupy spaces of 5,000
sq.ft. in freestanding facilities, regional malls, power and strip centers. Plans call for five openings in 1995 and three
openings in 1996. Expansion will take place
in the existing markets. Leases running three
to 10 years are typical. For more information, contact Rich Gonzales,
Houser Shoes, Inc., 812 Merrimon Avenue, Asheville, NC 28804; 704-254-0054, Fax 258-2217. Genesco,
Inc. trades as Jarman, Johnston & Murphy and Journeys at 480 locations nationwide. The stores occupy spaces of 1,200 sq.ft. in
regional malls. Plans call for 40 openings in
the coming 18 months. Expansion will take
place nationwide. For more information, contact Frank O. Fox, Jr.,
Genesco, Inc., PO Box 941/ Suite 588-B, Genesco Park, Nashville, TN 37202; 615-367-8329,
Fax 367-7323. The
Athlete's Foot Group, Inc. trades as The Athlete's Foot at 700 locations nationwide. The athletic footwear stores occupy spaces of
1,200 sq.ft. to 1,500 sq.ft. in regional malls and power centers. Power centers should have GLAs of at least 250,000
sq.ft. Plans call for 75 openings in the
coming 18 months. Expansion will take place
nationwide. Preferred demographics include a
population of 50,000 within three miles earning $30,000 as the average income. Leases running 10 years are typical. The company is franchising. For more information, contact Norma Harrington or
Bob Souders, The Athlete's Foot Group, Inc., 1950 Vaughn Road, Kennesaw, GA 30144;
404-514-4500, Fax 514-4903. Bob
Levine Shoes trades as Neat Feet at four locations in NY and NJ. The stores, selling men's and women's branded
shoes at off prices, occupy spaces of 7,000 sq.ft. to 10,000 sq.ft. in freestanding
facilities, outlet and strip centers. Growth
opportunities are sought in the existing markets. Preferred
demographics include a population of 100,000 within 10 miles earning $40,000 as the
average income. Leases running five years
with a five-year option are typical. For more information, contact Bob Levine, Bob
Levine Shoes, 20 Aquarium Drive, Secaucus, NJ 07094; 201-864-2057, Fax 854-0340. Shoe
City operates 24 locations in CA. The stores,
selling athletic shoes and apparel, occupy spaces of 5,000 sq.ft. to 7,000 sq.ft. in power
centers and freestanding facilities. Preferred
anchors include Wal*Mart. Plans call for six
openings through 1996 and nine openings in 1997. Expansion
will take place in Southern CA and NV. Preferred
demographics include a population of 200,000 within three miles earning $40,000 as the
average income. For more information, contact Bob Pratt, Shoe
City, 123 Washington Boulevard, Marina Del Rey, CA 90292; 310-577-1414. Who's
Opening and Where... AutoZone,
Inc. (901-325-4600) recently increased its projected store openings for 1995 from 180 to
205 units. Ernst
Home Centers (206-621-6700) plans to open eight home improvement stores during the third
quarter. Pet
Food Warehouse (612-542-0123) recently opened stores in Grand Rapids and Wyoming, MI. Cineplex
Odeon (416-323-6600) plans to build a 100,000 sq.ft., 16-screen, 5,000 seat movie complex
at Universal Studios in Universal City, FL. The
theater is expected to open during early 1998. Starlog
Franchise Corp. (201-712-1414) plans to open retail stores in Pinellas Park, FL,
Countryside Mall in Clearwater, FL and University Mall in Tampa, FL. The company currently operates seven Starlog: The
Comic and Science Fiction Universe stores at various locations throughout the U.S., and
one in England. Tandy
Corporation (817-390-3011) plans to open smaller Incredible Universe stores later this
year. The stores are expected to measure
160,000 sq.ft. to 175,000 sq.ft. rather than the average 185,000 sq.ft. store. Office
Depot (407-265-4258) plans to open a 37,000 sq.ft. store in Rock Hill, SC. Circuit
City (804-527-4000) is relocating its Palm Desert, CA store to a 45,000 sq.ft. facility. The old store, located across the street, only
measured 20,000 sq.ft. Computer
City (214-360-1700) plans to open stores in Cincinnati, OH; Houston, TX; Tulsa, OK;
Minnetonka, MN and Ottawa, Ontario, Canada this month. Egghead
Discount Software (206-391-6247) plans to open 10 newly-formatted stores and convert 10
existing stores to the new format before its fiscal year ends next March. Circle
K (602-229-8626) plans to change the name of its 44 OK and AR convenience stores to Stax
as it introduces a new format at the stores. The
stores will carry approximately 2,000 supermarket items in regular sizes including low-fat
and non-fat foods, fresh fruits and vegetables, breads and milk. The company, which will continue to own and
operate the stores, hopes that they will become the consumers' fill-in or mid-week
shopping destinations. Leslie's
Poolmart (818-993-4212) recently opened five stores to bring its 1995 store opening count
to 41. The company currently operates 221
locations in 28 states. Arby's
Canada (416-672-2729) recently opened its first Roast Town unit in Ajax, Ontario. The unit is only the second in the Arby's chain,
with the first being opened in Plantation, FL. Roast
Town restaurants offer rotisserie chicken, fresh baked goods and desserts in addition to
the chain's signature sandwiches and fries at fast-food prices and service in a casual
dining atmosphere. Hammacher
Schlemmer & Company, Inc. (312-664-8170) recently relocated its Chicago, IL unit to
Tribune Tower. The innovative consumer
products retailer also has stores in New York, NY and Beverly Hills, CA. Southwest
Georgia Oil Co. (912-246-1553) plans to open an Inland Foods convenience store in Douglas,
GA before the end of the year. The company
currently operates 24 stores in GA, FL and MS. Mergers
& Acquisitions A Drug
Emporium, Inc. (614-548-7080) franchisee in Nashville, TN recently acquired a Phar-Mor
Drug Store and plans to operate it under the Drug Emporium name. The franchisees, Robert Barry and Harry Zamminer
III, also plan to open another Drug Emporium store in the Nashville area within the coming
year. The company currently operates 115
company-owned stores and franchises an additional 96 stores nationwide. Blockbuster
Entertainment Group (305-832-3320) recently acquired a controlling interest in Grupo
Mexicano de Video (GMV), Blockbuster's Mexican franchisee.
Blockbuster invested $35 million in exchange for 80% of the common stock of GMV. GMV currently operates 100 Blockbuster Video
stores and is planning an aggressive expansion. Chief
Auto Parts, Inc. (214-204-1114) and Hi/LO Automotive, Inc. (713-663-9279) recently signed
a definitive merger agreement where each outstanding share of Hi/LO common stock will be
converted into the right to receive cash consideration of $11. Approximately 11 million shares of Hi/LO common
stock is outstanding. Hi/LO operates 191
stores in TX, LA and CA and Chief operates over 500 stores in CA, TX, NV, TN, AR and AZ. Woolworth
Corporation (212-553-2394) recently sold its 331-store Kids Mart/Little Folks division to
LFS Acquisition Corp., an investor group led by Bernie Tessler. In turn, LFS signed an agreement to be acquired by
Frost Hanna Acquisition Group, Inc. for approximately $16.7 million. Swallen's
(513-527-6591), an eight-store, family-run department store chain, was recently purchased
by an investment group led by Sharad Buddhdev. Longhorn
Steaks, Inc. (404-233-8450) recently acquired Lone Star Steaks, Inc. for $3.25 million. Lone Star currently operates two restaurants in
Atlanta, GA which will be converted into Longhorn Steak units. Childrobics,
Inc. (516-694-0999) recently acquired Fun Zone Family Entertainment Centers for $660,000. Fun Zone currently operates two units which
feature an animated stage show, indoor rides, bowlingo, soft play area, a ball pit, video
arcade, party rooms, and lazer tag. Childrobics
operates indoor recreational facilities nationwide. Applebee's
International, Inc. (913-967-4000) recently approved the transfer of 18 Applebee's
restaurants operated by franchisee Marcus Restaurants, Inc. in WI and IL to Apple South,
Inc., another Applebee's franchisee. In
addition, Applebee's has agreed to enter into development agreements with Apple South for
the development territories formerly held by Marcus in addition to Apple South's existing
development agreements. West
Coast Entertainment, Inc. (215-677-1000) recently entered into an agreement with Giant
Video Corporation that will merge the two chains into the nation's number two video
retailer. In addition, Giant Video is
finalizing purchase agreements with A-Z Video Superstores, Video Giant, Anthony Cocca's
Videoland, Forbes Video and Video Video. West
Coast Entertainment currently operates 500 West Coast Video stores in 25 states and four
countries. Video
Update (612-222-0006) recently acquired Video Powerstores, which operates 17 stores in
Phoenix, AZ, three in Las Vegas, NV and two in Tucson, AZ. Financial
News... Egghead
(206-391-6247) reported that sales for its fourth quarter, ended April 1, were $220.1
million, up from $210 million for the same period last year. The company also reported $934,000 in net income
for the fourth quarter compared to a $407,000 loss last year. Value
Merchants, Inc. (414-274-2575) and Everything's A Dollar, Inc. (414-274-2692) reported
first quarter net sales of $33,761 and a $10,837 loss from operations. Rentrak
Corporation (503-284-7581) reported revenues from its fiscal year ended March 31 were
$112.166 million, an increase of 63% from $68.896 million last year. Net income for the year increased 529% to $5.113
million compared to $813,065 last year. Revenues
for the Rentrak Home Entertainment Division, Pay-Per-Transaction (PPT), were $79.793
million for the fiscal year, compared to $62.005 million last fiscal year. The Pro Image revenues for the fiscal year were
$26.363 million compared to $3.950 million last year.
Rentrak Corporation markets PPT, a form of videocassette distribution based on the
concept of revenue sharing and operates the Pro Image chain of licensed sports apparel
stores. Brown
Group, Inc. (608-284-6461) reported a $4.4 million loss for the first quarter of 1995. Famous Footwear's sales for the quarter were up
43% overall with comp. store sales up 15%. The
company plans to open 125 to 130 stores this year, down from earlier plans calling for 160
stores. Last year, the company opened 183
units, and typically closes 20 stores per year. Currently,
the company operates 754 stores. Circle
K Stores, Inc. (602-229-8626) recently entered into its first franchise agreement with
Gibbs Oil Co. L.P. Under the agreement, Gibbs
Oil Co. will operate 52 convenience stores in ME, NH, MA and CT under the Circle K name. Mac
Frugal's Bargains-Close Outs, Inc. (310-761-4167) reported that net earnings for its first
quarter were down to $3.315 million compared to $5.91 million last year. The company operates 285 stores in 13 states under
the trade names Pic 'N' Save and Mac Frugal's Bargains-Close Outs. Genesco,
Inc. (615-367-8291) reported that net sales from its first quarter were $93.2 million,
down from $100.2 million for the same period last year.
The company also reported a net loss of $678,000 for the quarter compared to a net
loss of $2.7 million last year. The company
manufacturers and markets footwear under the tradenames Johnston & Murphy, Laredo Boot
Company, Nautica Footwear, Dockers Footwear, Jarman and Journeys. Buttrey
Food and Drug Stores Company (406-454-7280) reported that net income before extraordinary
charges for the first quarter increased to $238,000 from $25,000 last year. During the quarter, the company recorded an
extraordinary charge of $85,000 as a result of the early retirement of debt. Net income for the first quarter increased to
$187,000 from $25,000 and sales decreased 11.2% to $87.213 million from $98.197 million. Comparable store sales decreased 0.5%. The company operates 40 stores in MT, WY and ND. Edison
Brothers Stores, Inc. (314-331-6000) reported a first quarter net loss of $6.4 million
compared to a net earning of $1.9 million last year.
First quarter sales decreased 2.6% to $318.1 million from $326.7 million last year
and comparable store sales fell two percent. During
the quarter, the company closed 35 stores and opened 16 to end with 2,742 units. The company operates under the tradenames of
JW/Jeans West, Oaktree, J. Riggings, Zeidler & Zeidler/Webster, Repp Ltd., Phoenix
men's catalog, 5-7-9 Shops, Spirale, Bakers, Leeds, Precis, Wild Pair, Dave & Buster's
restaurant, Time-Out, Space Port and Exhilarama family entertainment centers. Strawbridge
& Clothier (215-629-7100) reported that first quarter sales decreased 4.7% to $198.625
million compared to $208.303 million last year. The
company also reported a loss of $6.064 million compared to a loss of $988,000 last year. The company currently operates 13 Strawbridge
& Clothier stores, one Home Furnishings store and 25 Clover discount stores in PA, NJ
and DE. Fay's
Incorporated (315-451-8000) reported that first quarter net earnings were $772,000
compared to $1.973 million a year ago. First
quarter revenues increased 11.4% to $266.4 million from $239.1 million last year and
comparable store sales increased 1.8%. The
company currently operates 276 drug stores in NY, PA, VT and NH. Giant
Food, Inc. (301-341-8480) reported that first quarter sales increased 4.8% to $869.235
million, up from $829,697 million for the same period last year. The company also reported that net income was up
to $22.106 million, compared to $20.414 million and that comparable store sales increased
2.6%. The company currently operates 161
supermarkets and three drug stores. Lead
Sheet Umbro
Company Store Brad
Plumley PO Box
3725 Bldg 1C Greenville,
SC 29608 803-233-0000,
Fax 370-7151 Apparel The
seven-unit chain operates locations in AL, FL, PA and SC.
The stores, selling active, sports and soccer apparel, occupy spaces of 4,200
sq.ft. in outlet centers. Preferred anchors
include Polo, Gap and Eddie Bauer. Plans call
for six openings in the coming 18 months. Expansion
will take place in TX, GA, SC and FL. Leases
running five years are typical. Michael's
Stores, Inc. dba
Michael's Tony
Chron 5931
Campus Circle Drive Irving,
TX 75261 214-714-7100,
Fax 714-7176 Arts
& Crafts The
395-unit chain operates locations throughout North America.
The stores occupy spaces of 17,500 sq.ft. in strip centers and freestanding
facilities. Growth opportunities are sought
nationwide. Speedee
Oil Change & Tune Up Kevin
Bennett Box
1350/ 159 Highway 22 East Madisonville,
LA 70447-1350 504-845-1919,
Fax 845-1936 Automotive The
154-unit chain operates locations nationwide and internationally. The stores, offering oil changes, tune ups and
brake service, occupy spaces of 2,700 sq.ft. in freestanding facilities, strip and
speciality centers. Plans call for 20
openings in the coming 18 months. Expansion
will take place in the existing markets. Hall
of Cards & Books, Inc. dba
Majarek's Hallmark, Readers World Mike
Majarek 313 E.
Main Street Niles,
MI 49120 616-684-5115,
Fax 684-8428 Books The
29-unit chain operates locations in MI and IN. The
book stores, which also sell Hallmark cards and gifts, occupy spaces of 3,000 sq.ft. to
7,500 sq.ft. in downtown store fronts, freestanding facilities, regional malls, power and
strip centers. Preferred anchors include
upscale tenants. Plans call for two openings
in the coming 18 months. Expansion will take
place in the existing markets. Preferred
demographics include a population of 40,000 within 10 miles earning $40,000 as the average
income. Leases running seven years are
typical. Recycled
Paper Greeting dba
Rocs Card & Gift Stores Ann
Kessler 3636
North Broadway Chicago,
IL 60613 312-348-6410,
Fax 281-1697 Cards
& Gifts The
1,300-unit chain operates locations throughout North America and Bermuda. The stores occupy spaces of 1,200 sq.ft. to 2,000
sq.ft. in downtown store fronts, regional malls, specialty and strip centers. Plans call for 150 openings in the coming 18
months. Expansion will take place throughout
North America. Gramex
Corp. dba
Grandpa's Rick
Meyer 11966
St. Charles Rock Road Bridgeton,
MO 63044 314-739-8300,
Fax 291-7720 Discount The
13-unit chain operates locations in MO and IL. The
stores, selling family apparel, shoes, sporting goods, hard goods, supermarket
non-perishable items, home decor items, jewelry, health and beauty aides and dollar items,
occupy spaces of 80,000 sq.ft. to 90,000 sq.ft. in freestanding facilities, power and
strip centers. Growth opportunities are
sought in MI and IL. Concord
Custom Cleaners Marty
Chalfant PO Box
1000 Richmond,
KY 40476 606-623-2550,
Fax 624-9185 Drycleaners The
200-unit chain operates locations in AL, FL, IL, IN, IA, KY, MO, OH and TN. The stores occupy spaces of 2,000 sq.ft. to 3,000
sq.ft. in freestanding facilities, specialty and strip centers. Plans call for up to 15 openings in the coming 18
months. Expansion will take place in the
existing markets. Leases running five years
with two or three five-year options are typical. Inkley's,
Inc. dba
Inkley's Ronald
Inkley 589 N.
Main Street Layton,
UT 84041 801-544-2721,
Fax 546-4948 Electronics The
22-unit chain operates locations in UT, ID, NV and WY.
The stores occupy spaces of 3,000 sq.ft. in freestanding facilities and strip
centers. Plans call for two openings in the
coming 18 months. Expansion will take place
in the existing markets. Leases running five
years are typical. RaceTrack
80 Ted
Kraus c/o
TKO Real Estate Advisory Group PO Box
2630 Mercerville,
NJ 08690 609-587-6200,
Fax 587-3511 Entertainment The
three-unit chain operates locations in NJ and PA. The
indoor auto racing and arcade facilities occupy spaces of 55,000 sq.ft. to 65,000 sq.ft.
in freestanding facilities, power and strip centers.
Plans call for two openings in the coming 18 months.
Expansion will take place in the existing markets.
Preferred demographics include a population of 200,000 within five miles earning
$40,000 as the average income. Leases running
10 years are typical. Reel
Entertainment Dale
Reese PO Box
130 Veradale,
WA 99037 509-924-7514,
Fax 922-3735 Entertainment The
10-unit chain operates locations in WA, OR, NJ, PA and NY.
The movie theaters occupy spaces of 10,000 sq.ft. to 17,000 sq.ft. in power and
strip centers. Preferred anchors include
Kmart and Wal*Mart. Plans call for six
openings in the coming 18 months. Expansion
will take place in the existing markets. Preferred
demographics include a population of 100,000 within 10 miles earning $35,000 as the
average income. Leases running 10 years are
typical. Taco
Time International, Inc. dba
Taco Time Jim
Thomas 3880
W. 11th Avenue Eugene,
OR 97402 503-687-8222,
Fax 343-5208 Food The
300-unit chain operates locations in 21 states as well as Canada, Japan and Greece. The Mexican restaurants occupy spaces of 500
sq.ft. to 600 sq.ft. in food courts and 1,500 sq.ft. to 2,100 sq.ft. in regional malls. Preferred anchors include Wal*Mart, JC Penney's
and Macy's. Plans call for up to 20 openings
in the coming 18 months. Expansion will
primarily take place in the Western states. Preferred
demographics include a population of 10,000 within three miles earning $25,000 as the
average income. The company is franchising. Cort
Furniture Rental Michael
Connors 4401
Fair Lanes Court Fairfax,
VA 22033-3805 703-968-8500,
Fax 968-8501 Furniture The
100-unit chain operates locations nationwide. The
stores, offering furniture for rent, occupy spaces of 4,000 sq.ft. to 35,000 sq.ft. in
freestanding facilities and specialty centers. Plans
call for up to four openings in the coming 18 months.
Expansion will take place nationwide. Leases
running five to 10 years are typical. Cutco
Industries, Inc. dba
Great Expectations, Natisse, Hair Crafter Marvin
Marcus PO Box
265 Jericho,
NY 11753 800-992-0139,
Fax 516-334-8575 Hair
Salon The
450-unit chain operates locations nationwide. The
salons occupy spaces of 1,000 sq.ft. to 1,200 sq.ft. in regional malls, power and strip
centers. Growth opportunities are sought
nationwide. Health
Haus, Inc. David
Van Vlymen 6605
SW Dover Street Portland,
OR 97225-1005 503-244-8849,
Fax 244-9572 Health The
six-unit chain operates locations in OR. The
nutrition stores occupy spaces of 1,000 sq.ft. to 1,500 sq.ft. in regional malls, power,
specialty and strip centers. Plans call for
five openings in the coming 18 months. Expansion
will take place in OR and WA. Leases running
seven years are typical. Nature's
Bounty, Inc. dba
Vitamin World Pat
Solt 4320
Veterans Highway Holbrook,
NY 11741 516-244-2125,
Fax 244-2127 Health The
35-unit chain operates locations nationwide. The
stores occupy spaces of 1,000 sq.ft. to 1,500 sq.ft. in outlet centers. Plans call for 20 openings in the coming 18
months. Expansion will take place nationwide. Leases running five years with a five-year option
are typical. Deck
The Walls dba
Deck The Walls, Ashley Avery's Collectables Charles
Valles PO Box
1187 Houston,
TX 77251-1187 713-775-5263,
Fax 775-5250 Home
Decor The
208-unit chain operates locations nationwide. The
Deck The Walls stores, offering art and custom framing, occupy spaces of 1,500 sq.ft. in
regional malls, and the Ashley Avery's Collectables stores, offering collectables, occupy
spaces of 1,000 sq.ft. in regional malls. Preferred
anchors include traditional department stores. Plans
call for the opening of 15 Deck The Walls units and 15 Ashley Avery's Collectables units
in the coming 18 months. Expansion will take
place nationwide. Leases running 10 years are
typical. The company is franchising. Home
Fashions Outlet David
Goldman 22601
Pacific Coast Highway 200 Malibu,
CA 90265 310-456-5889,
Fax 456-8218 Home
Decor The
12-unit chain operates locations in CA, MA, NC and SC.
The stores occupy spaces of 3,500 sq.ft. to 4,500 sq.ft. in freestanding
facilities, outlet, power, specialty and strip centers.
Preferred anchors include T.J. Maxx, Ross Dress for Less, Payless ShoeSource,
KidsMart, Clothestime, Studio 5 and supermarkets. Plans
call for six openings in the coming 18 months. Expansion
will take place in Southern CA. Preferred
demographics include a population of 125,000 within three miles earning $50,000 as the
average income. Leases running three years
are typical. C&H
Rauch, Inc. dba
C&H Rauch Peggy
Stingle 1165
Center Parkway Lexington,
KY 40517 606-273-8000,
Fax 273-7706 Jewelry The
34-unit chain operates locations in KY, TN, IN, VA, WV and OH. The stores occupy spaces of 900 sq.ft. to 1,600
sq.ft. in regional malls. Plans call for two
openings in the coming 18 months. Expansion
will take place in OH and IN. Leases running
10 years are typical. James
Avery Craftsmen Mark
Hogeboom Harper
Road/ PO Box 708 Kerrville,
TX 78029-1367 210-895-1122,
Fax 895-6601 Jewelry The
30-unit chain operates locations in TX, OK and GA. The
stores occupy spaces of 1,750 sq.ft. in regional malls, power and strip centers. Preferred anchors include Dillards, Ann Taylor, B.
Dalton, Disney Store and Warner Bros Store. Plans
call for five openings in the coming 18 months. Expansion
will take place in the Southwest and Southeast regions.
Preferred demographics include a population of 100,000 within five miles earning
$70,000 as the average income. Leases
running five to seven years are typical. Ultra
of Illinois, Inc. dba
Ultra The Gold & Diamond Store Daniel
H. Marks 29
East Madison/ Suite 508 Chicago,
IL 60602 312-201-8422 Jewelry The
12-unit chain operates locations in the Midwest. The
stores occupy spaces of 600 sq.ft. to 1,800 sq.ft. in regional malls and outlet centers. Preferred anchors include Lord & Taylor. Plans call for up to 20 openings in the coming 18
months. Expansion will take place in NV, the
Midwest and East Coast regions. Leases
running 10 years are typical. National
Record Mart, Inc. dba
National Record Mart George
Balicky 507
Forest Avenue Carnegie,
PA 15106 412-276-6200,
Fax 276-6201 Music The
149-unit chain operates locations nationwide. The
stores, selling records, tapes and compact discs, occupy spaces of 2,200 sq.ft. to 4,000
sq.ft. in regional malls and strip centers. Growth
opportunities are sought nationwide. Paper
Factory of Wisconsin, Inc. dba
The Paper Factory, The Paper Outlet Steve
Rose PO Box
2789 Appleton,
WI 54913 414-738-3600,
Fax 738-3658 Party
Supplies The
160-unit chain operates locations nationwide. The
stores, selling party goods, decorations, gift wrap and accessories, occupy spaces of
3,500 sq.ft. to 4,300 sq.ft. in outlet centers. Plans
call for 50 openings in the coming 18 months. Expansion
will take place nationwide. Leases running
five years are typical. S.
Freedman & Sons, Inc. dba
The Paper Store, The Party Mart Barry
Perlis 3322
Pennsy Drive Landover,
MD 20785 301-322-5000,
Fax 772-7653 Party
Supplies The
12-unit chain operates locations in MD, VA and Washington, D.C. The stores occupy spaces of 2,500 sq.ft. to 10,000
sq.ft. in strip centers. Preferred anchors
include supermarkets. Plans call for 10
openings in the coming 18 months. Expansion
will take place in the Mid-Atlantic region. Warner
Brothers Worldwide Retail dba
Studio Stores Liz
Gardner 4000
Warner Boulevard Burbank,
CA 91522 818-954-3809,
Fax 954-4416 Specialty The
110-unit chain operates locations nationwide. The
stores, selling Warner Bros. licensed products, occupy spaces of 7,500 sq.ft. in regional
malls. Plans call for 20 openings in the
coming 18 months. Expansion will take place
nationwide. West
Marine Bonni
Tragni 500
Westridge Drive Watsonville,
CA 95076 408-728-2700,
Fax 728-5926 Specialty The
62-unit chain operates locations in 19 states along the East Coast, West Coast, Great
Lakes and Gulf of Mexico regions as well as HI. The
stores, selling boating gear and apparel, occupy spaces of 5,000 sq.ft. to 10,000 sq.ft.
in freestanding facilities and strip centers. Growth
opportunities are sought in the existing markets. Fry's
Food Stores of Arizona, Inc. dba
Fry's Food Stores Terry
Marshall PO Box
6016 Phoenix,
AZ 85005-6016 602-269-3171,
Fax 272-8886 Supermarket The
50-unit chain operates locations in AZ. The
supermarkets occupy spaces of 52,000 sq.ft. to 62,000 sq.ft. in freestanding facilities
and strip centers. Plans call for two
openings in the coming 18 months. Expansion
will take place in AZ. Charles
Scaturro & Sons, Inc. dba
Scaturro Supermarkets Charles
P. Scaturro 258-01
Hillside Avenue Floral
Park, NY 11004-1620 718-347-1101,
Fax 347-1026 Supermarket The
seven-unit chain operates locations in NY. The
stores occupy spaces of 10,000 sq.ft. in freestanding facilities. Plans call for two openings in the coming 18
months. Expansion will take place in the
existing market. Leases running 25 years are
typical. Schnuck
Markets, Inc. dba
Schnuck Markets Mark
Schnuck 11420
Lackland Road St.
Louis, MO 63146 314-994-4444,
Fax 994-4450 Supermarket The
65-unit chain operates locations in MI, IL, IN and KS.
The stores occupy spaces of 55,000 sq.ft. to 70,000 sq.ft. in freestanding
facilities and strip centers. Plans call for
up to 30 openings in the coming 18 months. Expansion
will take place in the metropolitan St. Louis, MO area. Kay
Bee Toy Stores dba
Kay Bee Toy Stores, Toy Works Tony
Palino 100
West Street Pittsfield,
MA 01201 413-499-0086,
Fax 499-3884 Toy
Store Kay
Bee Toy Stores operate 1,100 locations nationwide while Toy Works stores operate 48
locations in MA, CT, IL, NY, MD, MN, PA, VA, FL and WI.
The Kay Bee Toy Stores occupy spaces of 3,500 sq.ft. in regional malls and the Toy
Works stores occupy spaces of 15,000 sq.ft. in strip centers. Plans call for the opening of 32 Kay Bee Toy
Stores in the coming 18 months. Expansion
will take place nationwide. Plans call for
the opening of 25 Toy Works stores in the coming 18 months.
Expansion will take place in MI, ME and NJ. Buyers
& Sellers of Commercial Properties Sakon
Development has the listing to sell Perry Plaza II in Southington, CT. The 14,000 sq.ft. strip center is fully leased and
has a first year NOI of $106,100. The asking
price is $1.1 million and financing is available. For more information, contact John Sakon at
(203-793-1000), Fax (793-0020). Colonial
Properties, Inc. has the listing to sell Cromwell Center in Cromwell, CT. The site is approved for 87,000 sq.ft. of retail
development and is located on Route 72 near I-91. The
asking price is $2.9 million. The company
also has the listing to sell Mulberry Plaza in Guilford, CT. The project has 12,000 sq.ft. of retail space and
12,000 sq.ft. of office space and is fully leased. The
asking price is $1.6 million. For more information, contact Stan Klein at
(203-795-8060), Fax (795-8046). Peter
J. Schweitzer & Associates, Inc. is in the market to purchase shopping centers in FL. Preferred sites are well located and priced
between $1 million and $4 million. Properties
with vacancies and without anchor tenants will be considered. For more information, contact Peter J. Schweitzer
at (305-975-7553), Fax (975-7663). MJB
Real Estate Services Corp. brokered the sale of Village Walk, a 60,000 sq.ft. shopping
center in Guilford, CT. The project is
anchored by Rite Aid, Beaux Visages and Mail Boxes, Etc. and was purchased by Village Walk
Associates, L.L.C. for $2.075 million. For more information, contact Daniel Johnson or
Mark J. Brockwell at (203-222-6200), Fax (203-222-6202). J.
Herzog & Sons, Inc. is in the market to purchase shopping centers having GLAs of at
least 100,000 sq.ft., nationwide. For more information, contact Joseph Fricke at
(303-757-8811), Fax (757-1911). National
Real Estate Brokerage is in the market to purchase sites in Northern VA and MD for
development of retail projects. Sites ranging
in size from five acres to 25 acres are of interest. For more information, contact Jerry Malamut at
(301-770-8585), Fax (770-8591). Malan
Realty Investors, Inc. recently purchased the 248,206 sq.ft. Clinton Pointe Shopping
Center in Clinton Township, MI for $12.2 million. The
project, which is 97.5% leased, is anchored by Target, Sports Authority, OfficeMax and
Jo-Ann Fabrics. For more information, contact Michael K. Kaline at
(810-644-7110). HSS
Real Estate has the listing to sell Southwest Square in Harvey, IL. The 61,010 sq.ft. project is anchored by a
supermarket. The asking price is $1.975
million. For more information, contact Michael J. Horne at
(312-849-2044), Fax (849-2050). Allen
Fuller Co. Realtors represents investors in the market to purchase Walgreens, Wal*Mart or
other credit tenant net leases. Preferred
leases are at least 15 years, have a 9% cap, plus increases. Lesser credit is acceptable if the cap exceeds
10%. Prices between $2 million and $10
million are of interest. The company also has
the listing to sell Walgreens, Kmart, Wal*Mart, etc. net leases, nationwide. For more information, contact David Mufson at
(305-532-0881), Fax (532-0882). C.R.
Realty has the listing to sell 105 acres of land zoned commercial in Vestal, NY. The site has approval for 605,000 sq.ft. of
leasable space and has city sewer, water and gas. Surplus
land could be used for housing. The asking
price is $1.9 million and financing is available. The
company also has the listing to sell 100 acres of land zoned commercial in Watertown, NY. The site is adjacent to Solomon Run Mall, Wal*Mart
and Sam's Club near I-81. The site has city
sewer, water and gas services. Subdividing of
the property is possible. The asking price is
$35,000 per acre and financing is available. For more information, contact John Petrolawicz at
(607-786-9916), Fax (786-9741). Real
Estate Professionals Making News Levin
Management Corporation (908-755-2401) announces that Steve Felix has joined the company as
Director of Management Marketing. Hiffman
Shaffer Associates, Inc.'s Retail Division (312-332-3555) has announced that Edward M.
Zifkin, CCIM, has been promoted to Senior Vice President from Vice President of the firm. The company also announces that Timothy C. Blum
has been promoted to Vice President from Senior Associate of the firm. Breslin
Realty Development Corp. (516-741-7400) has announced that Beth Lamport has joined the
company. The
Kislak Company, Inc. (908-750-3000) has announced the appointment of Alan. M. Lambiase as
Senior Vice President and Manager of the Corporate/Commercial/Industrial Realty Division
of the company. Edward
S. Gordon Company of New Jersey (212-984-8000) was awarded "Creative Real Estate Deal
of the Year" by the New Jersey Chapter of NAIOP for its orchestration of one of NJ's
largest transactions of 1994. Mid-America
Real Estate Corp. (708-954-7300) promoted Steve Frishman to vice president. An employee of the company for seven years, he has
represented national anchor tenants and regional chain stores. Julien
J. Studley, Inc. (212-326-1000) recently promoted Bruce E. Schuman and Chris A. Lovell to
Corporate Vice President. Lovell was also
appointed to serve on the company's Executive Manager's Committee. The company promoted Mark A. Teitelbaum to the
position of Corporate Managing Director; Ted Rotante to Corporate Managing Director and
Gregory L. Collins to Managing Director. Glimcher
Realty Trust (614-621-9000) announces that Vincent F. Ferrini has been appointed Ohio
State Operations Chairman for the International Council of Shopping Centers (ICSC). Ferrini, an Executive Vice President of Operations
for Glimcher Realty Trust, he will serve a one-year term as chairman. Realty
Management Company (813-960-8154) announces the appointment of Mike Finstein as Director
of Leasing. Retailers
Keeping Up with The Times America's
Research Group's (800-723-3253) recent poll of 1,000 consumers nationwide shows that the
fear of crime is taking its toll on Americans, forcing them to change the hours they shop,
the stores they frequent and the routes that take to and from those stores. The survey, which is produced annually for use by
America's Research Group clients and the national news media, was conducted by phone from
April 28-30 and presented at the International Mass Retailers Association meeting in
Boston, MA on May 15. The poll revealed that
26.7% of consumers had changed the way they shop due to crime, and 79.5% of shoppers felt
that crime would get worse in the next two years. Other
findings of the survey include: consumers have changed their driving habits because of a
fear of crime. More than 40% are afraid to
drive to stores they used to shop, and more than one in four now shop closer to home than
they did two years ago; more than one out of six surveyed plan to shop less in the future
because of a fear of crime; nearly half of the people said they are shopping convenience
stores less and 38.6% say they will shop convenience stores less in the future. Another
14.5% said they would shop supermarkets and drug stores less, 9.6% said they would shop
major malls less and five percent said they would shop discount stores less. Consumers were split on the use of security
cameras in retail stores, with 47.5% saying they would be more likely shop at a store
using cameras and 48.1% not inclined to shop a store based on the presence of security
cameras. Six in 10 shoppers now carry less
cash with them when they shop and 42.3% use charge cards more when shopping. Fear of crime has impacted shopping habits over a
long period of time. When asked when they
first started to change their shopping habits, 17.7% answered two years ago or longer,
11.2% said one year and 3.7% said within the last six months. The consumers were also asked their greatest
concerns while shopping and responded with the following list: Driving through a
neighborhood with a high reported crime rate; Walking anywhere at night; Carrying a large
sum of money; Walking back to the car with hands full of packages; Unlocking the car;
Walking in a large parking lot; Being around a lot of teenagers; Anytime a wallet or purse
is open; Standing at a cash register waiting to pay; Walking through an enclosed shopping
mall; and Driving to and from stores. The
Home Depot (404-433-8211) plans to begin airing a one-hour home improvement show called
HouseSmart on The Discovery Channel beginning in September.
The show will cover subjects that range from home repair and design solutions to
energy savings and weekend projects. Sequel
Software, Inc. (970-385-4660), a manufacturer and retailer of outdoor clothing, now allows
its customers to test their clothes in an outdoor simulator. Located at the company's store in Boulder, CO the
test chamber is shrouded by natural rock formations and plants creating an outdoor
environment inside the store. The chamber can
simulate rain, wind, thunder, lightning and hail. The
purpose of the chamber is to allow customers to test the company's outerwear to see how
waterproof, breathable, durable and comfortable it is.
The chamber cost $10,000 to build and is located in the store's front window. Sears,
Roebuck and Co. (708-286-2500) plans to expand its private labels by introducing three
apparel lines and one cosmetics line. The
apparel lines include Canyon River Blues, a denim line; Field Master, a line similar to
Timberland; and Dennis Connor Stars & Stripes, a line similar to Nautica. Circuit
City (804-527-4000) is testing the concept of selling used cars at locations in Cobb
County and Gwinnett County, GA. Called
CarMax, the locations stock over 1,000 vehicles each and sell them with a no-haggle,
low-key approach. Rally's
Hamburgers, Inc. (502-245-8900) and GB Foods Corporation (402-571-1128) recently entered
into a development agreement that will allow Rally's to sell Green Burrito products at its
restaurants. |