Issue 33 for the week of September 15, 1995

The Dealmakers Issue Number 33 for the week of September 15, 1995.

My Way by Ted Kraus

I Think I Was Just Insulted

I just had a conversation with a broker regarding a listing he had on a center that might be of interest to one of our clients. Now I try to be "phone" friendly, but when I don't know someone (and we had never spoken before), I try to be as professional as I'm capable of being without spending half an hour discussing sex, drugs or rock and roll. This broker seemed more intent on becoming my best friend than answering my questions or getting down to business. After five or 10 minutes of repeating my questions and telling him I'd listen to why the "numbers-in-themselves" are not enough later, first tell me the facts. I was starting to get annoyed. Every question had a story behind it and he wanted to tell me every detail of every story, no matter how long it took. I finally explained my clients are as*h***s and really don't care about stories, they just want to know the numbers and nothing but the numbers. "If you can't provide 'em, call back when you can." Finally, I started to get some "hard" numbers and then asked for the story(s) so I could get an overview of the center. This was a 350,000 sq.ft. center, 70% vacant with no anchors (it used to be anchored by a two-story Sears (125,000 sq.ft.) and a Drug Emporium of 25,000 sq.ft. It's had four owners in six years and is now "owned" by the bank. The broker explained how all previous owners were totally incompetent and so is the bank (I agreed about the bank). He contended with my great leasing skills and my client's money, the center would be 100% leased in 120 days. The two level Sears would not be difficult to lease and anyway, Sears might come back to the space because the rent was so cheap (the fact that the SMSA is 75,000 and there are two newer centers in town is immaterial).

Anyway, after being told the NOI and asking price, I explained that the numbers didn't justify the price and to call me in three or four months after it's been shopped around and no one wanted it at those numbers; then we'll be interested at $10 psf. I was told it's been on the market for three months, they've gotten lots of offers and went into contract two times already, so if I wanted it, I should offer to pay their price (he kept telling me how much the bank had into the center and I kept asking what that had to do with its worth). I then asked, "If it's that popular, why hasn't it sold and why are you wasting your time talking to me?" He responded with another dissertation on why everyone in the world but my client (who he has never met), himself and me are incompetent. This whole conversation must have taken half an hour, so I was getting impatient. I finally said, "Look, the only way we could possibly be interested is at $10 psf, if that's not the price, we're not interested." He got really mad and said, "You're just a bottom fisher and only care about price, I don't deal with them," and hung up.

I think he intended to insult me, but I couldn't understand why; my mother taught me a long time ago not to have false pride. Was it a compliment not to want to buy property at the best possible price and to have the "honor" of "overpaying?" I think not. Whether it's buying a center or leasing space, the companies/people that seem to always end up in trouble (long term, that is, short term they are "stars") are the ones who pay "market" or "above market." The "staying power" seems to be with the companies that are "tough."

On a different subject, how many exclusive brokers can a retailer have? The number appears to be infinite. We were leasing a center and contacted an "exclusive" broker for a big box retailer with whom we wanted to do a deal. (They fogged up the mirror.) Anyway, during our conversations he (the exclusive broker, this gets complicated so pay attention) kept explaining that even though the tenant had no net worth they were great, on a major expansion, and only he (not even God) could do their deals. Jeff Doppelt would be proud of him. I smiled a lot (we needed the tenant and net worth at this point in time was secondary to all our other needs), told him how good looking he was and did whatever I had to do to keep him happy. Being the nice guy that he was, he tried getting around me and went directly to the owner so he wouldn't have to split the commission. Fortunately, that didn't work (there are some good owners), and he explained the owner misunderstood his reason for calling direct and saying he didn't want to co-broker with me. After a few more weeks, for various reasons, the deal died, so I offered him another location (I feel you shouldn't complicate matters when dealing with brokers or retailers and offer them multiple locations, they get confused easy). Once again he tried to get around dealing with me and went directly to the owner and once again he failed. This deal also died and we both went our merry way. About a month later, the owner of these two centers (the good guy) called me regarding another property he owned that a totally new and unknown broker just registered the "other" broker's "exclusive" tenant. They called me because in their mind (God bless 'em) I was their broker when it came to this particular tenant (why not be honorable if it won't cost them extra, the "exclusive broker" just splits with me, their commission costs are not increased). They wanted to know why the other broker (the one who claimed to have th exclusive) wasn't dealing with me on the site. I explained "I know nothing" and called "Mr. Exclusive." He never heard of the other broker or site, said the other broker was full of it and would check everything out. I said fine, let me know. A few hours later he called back and explained that there is absolutely no interest on behalf of "his" retailer on that site and the broker is wasting everyone's time. I relayed that message to our client who called the other broker (who had just registered thet "exclusive tenant") and was told 1) the retailer's president was there last week, expressed interest and is coming back this weekend and the broker is picking him up at the airport, and 2) the other broker had just called him and was trying to co-broker the deal, which he said no to. (If there is no deal, why co-broker and if you're the exclusive, why is another broker calling?) The client, after our conversation, called the other broker back and said he was "protected" if a deal is made. Now the exclusive broker is claiming we should "recognize" him on the deal and the owner keeps asking "why?" And brokers wonder why they have such a poor image.

Parting comment, we recently got National Research Bureau's Shopping Center Directory on CD (1-800-456-4555). While it's not the end-all on the shopping center industry, nothing is, candidly, after using the CD version, I never want to go back to "hard copy" again. The price is high ($1,495), and if the company is smart they'll drop the price as it gains more acceptance. Locating a center(s), owner(s) and understanding a market better is substantially easier than using the traditional hard directory. When we're are marketing the sale of a center, we can and do generate reports on competing projects to include in our sales package. The same is true when we're doing due diligence on surveying a market. Also, you can search the database by the tenant's name which is great for leasing. When we wanted to know every location a specific tenant had in NJ we were able to get this information in about five minutes, a lot easier than the "old way." Is it 100% accurate? No, but you most likely couldn't get a 100% accurate answer from the retailers themselves. Also, there is another database available produced by Directory of Major Malls (914-426-0040). While I haven't used their product, I understand it has many bells and whistles also.

Southeastern Sites Sought

Pelican Building Centers operates 19 locations in NC and SC. The home improvement stores occupy spaces of 22,000 sq.ft. in freestanding facilities. Plans call for 15 openings in the coming 18 months. Expansion will take place in Southeastern region.

For more information, contact the Real Estate Department, Pelican Building Centers, PO Box 260001, Conway, SC 29526; 803-347-4235, Fax 347-6009.

Variety Wholesalers does business as Allied Dept. Stores, Max Way, Super Jem, Nothing Over $10 and Bargain Town USA Stores at 620 locations in MS, AL, GA, NC, SC, VA, FL, LA and WV. The stores, selling apparel for the family and soft goods, occupy spaces of 6,000 sq.ft. to 15,000 sq.ft. in downtown store fronts and strip centers. Growth opportunities are sought in the existing markets.

For more information, contact Jim Cartlidge, Variety Wholesalers, PO Box 17800, Raleigh, NC 27619; 919-876-6000, Fax 790-9572.

Food Fair of NC, Inc. trades as Food Fair at 11 locations in NC. The supermarkets occupy spaces of 50,000 sq.ft. in freestanding facilities and strip centers. Growth opportunities are sought in the existing market.

For more information, contact Bill Messick, Food Fair of NC, Inc., 2900 Lowery Street, Winston-Salem, NC 27101; 910-724-3661, Fax 724-2303.

Neighborhood Variety Stores, Inc. trades as Crafts & Stuff at 13 locations in FL and GA. The stores, selling crafts and hobby supplies, occupy spaces of 20,000 sq.ft. in power and strip centers. Plans call for 10 openings in the coming 18 months. Expansion will take place in FL.

For more information, contact Ron Lewis, Neighborhood Variety Stores, Inc., 1904 Drew Street, Clearwater, FL 34625; 813-442-9918, Fax 447-7720.

Hudson Salvage Centers, Inc. operates nine locations in LA and MS. The variety stores occupy spaces of 12,000 sq.ft. to 45,000 sq.ft. in freestanding facilities and strip centers. Preferred anchors include supermarkets. Plans call for as many as two openings in the coming 18 months. Expansion will take place in AL, LA or MS. Leases running two years with options are typical.

For more information, contact Mickey Hudson, Hudson Salvage Centers, Inc., Highway 588 West Industrial Park, Ellisville, MS 39437; 601-477-4951, Fax 477-5204.

Omega Sports, Inc. trades as Omega Sports at 10 locations in NC. The sporting goods stores occupy spaces of 3,000 sq.ft. to 6,000 sq.ft. in power and strip centers. Plans call for up to three openings in the coming 18 months. Expansion will take place in NC and SC.

For more information, contact Phil Bowman, Omega Sports, Inc., 4118 Spring Garden Street, Greensboro, NC 27407; 910-854-0835, Fax 299-1043.

Carolina Builders Corp. trades as Carolina Builders at 27 locations in NC, SC, VA and GA. The home centers occupy spaces of 32,000 sq.ft. in freestanding facilities. Growth opportunities are sought in the Southeastern region.

For more information, contact Mark Ashburn, Carolina Builders Corp., 3227 Wellington Court, Raleigh, NC 27615; 919-850-8270, Fax 850-8280.

Salley Manufacturing Co. trades as The Factory Outlets at 28 locations in SC. The women's apparel stores occupy spaces of 2,000 sq.ft. in strip centers. Preferred anchors include supermarkets. Plans call for two openings in the coming 18 months. Expansion will take place in the existing market. Leases running three years are typical.

For more information, contact Ronnie Williamson, Salley Manufacturing Co., PO Box 506, Salley, SC 29137; 803-258-3426, Fax 258-3429.

Leggett operates 50 locations in DE, MD, NC, VA and WV. The department stores occupy spaces of at least 50,000 sq.ft. in downtown store fronts, outlet and strip centers. Growth opportunities are sought, especially in outlet centers, in the existing markets.

For more information, contact Robert Leggett, III, PO Box 1689, Danville, VA 24543-1689; 804-799-8300, Fax 797-9805.

Wakefield's & Martin's, Inc. trades as Martin's at eight locations in AL. The family apparel stores occupy spaces of 60,000 sq.ft. in freestanding facilities. Preferred anchors include Wal*Mart and supermarkets. Growth opportunities are sought in AL, GA and TN. Preferred demographics include a population between 20,000 and 30,000 within three miles earning $25,000 as the average income. Leases running five to 10 years are typical.

For more information, contact Greg Kernion, Wakefield's & Martin's, Inc., 1212 Quintard Avenue, Anniston, AL 36201; 205-237-9521, Fax 235-3760.

McGillen's, Inc. trades as Craft Depot at seven locations in FL. The arts, crafts and hobby stores occupy spaces of 20,000 sq.ft. to 36,000 sq.ft. in power and strip centers. Plans call for three openings in the coming 18 months. Expansion will take place in the existing market.

For more information, contact Ron Lewis, McGillen's, Inc., 1904 Drew Street, Clearwater, FL 34625; 813-442-9918, Fax 447-7720.

Harry's Farmers Market operates four locations in GA. The stores, specializing in fresh produce, occupy spaces of 100,000 sq.ft. in freestanding facilities. Plans call for two openings in the coming 18 months. Expansion will take place in the Southeastern region.

For more information, contact Dave Patillo, Harry's Farmers Market, 1180 Upper Hembree Road, Roswell, GA 30076; 404-664-6300, Fax 772-9067.

Fowler's, Inc. does business as JD Kinders Furniture at four locations in GA. The stores occupy spaces of 55,000 sq.ft. in freestanding facilities, outlet, power, specialty and strip centers. Preferred anchors include Kmart, T.J. Maxx, Wal*Mart and supermarkets. Plans call for as many as two openings in the coming 18 months. Expansion will take place in the existing market. Preferred demographics include a population of 150,000 within 20 miles earning $18,000 as the average income. The company prefers to own its properties.

For more information, contact Don Fowler, Fowler's, Inc., 5370 Frontage Roadway, Forest Park, GA 30050; 404-363-3600, Fax 366-0413.

Navarro Discount Pharmacies operates seven locations in FL. The discount drug stores occupy spaces of 25,000 sq.ft. to 35,000 sq.ft. in freestanding facilities and strip centers. Preferred anchors include supermarkets. Plans call for three openings in the coming 18 months. Expansion will take in the existing market. Leases running five years with three options of five-years each are typical.

For more information, contact Gabriel Navarro, Navarro Discount Pharmacies, 4041 NW 26th Street, Miami, FL 33142; 305-871-2789, Fax 871-2831.

Timesaver, Inc. operates 39 locations in GA. The convenience stores occupy spaces of 2,500 sq.ft. in freestanding facilities. Plans call for 10 openings in the coming 18 months. Expansion will take place in the existing market. Preferred demographics include a population of 1,000 within two miles earning $20,000 as the average income. Leases running between five and 15 years are typical.

For more information, contact Harris Slotin, Timesaver, Inc., 7360 Skidaway Road/ Suite E1, Savannah, GA 31406; 912-351-6000, Fax 351-6018.

Photo USA, Inc. trades as Photo USA at six locations in VA. The photo processing stores occupy spaces of 1,000 sq.ft. in freestanding facilities, regional malls and strip centers. Plans call for as many as two openings in the coming 18 months. Expansion will take place in the existing market.

For more information, contact Tom Tanner, Photo USA, Inc., PO Box 4125, Roanoke, VA 24015; 703-776-0590, Fax 776-0594.

Taco Viva operates 14 locations in FL. The Mexican fast food restaurants occupy spaces of 600 sq.ft. to 700 sq.ft. in regional malls. Preferred anchors include Burdines, JC Penney, Sears, Lord & Taylor and Macy's. Plans call for up to three openings in the coming 18 months. Expansion will take place in the existing market. Preferred demographics include a population of 100,000 within five miles earning $45,000 as the average income. Leases running seven years are typical. The company is franchising.

For more information, contact Jose Piloto, Taco Viva, PO Box 22136, Lake Buena Vista, FL 32830; 407-827-8041, Fax 827-5144.

Steph-Ran Corp. trades as Ronnie's Shoes at two locations in FL. The stores, selling brand name shoes, occupy spaces of 1,500 sq.ft. in downtown store fronts. Growth opportunities are sought in the existing market.

For more information, contact Saul Winthrop, Steph-Ran Corp., 9541 Harding Avenue, Miami Beach, FL 33154; 305-864-9565.

Miller Enterprises, Inc. trades as Handy Way Convenience Stores at 116 locations in FL. The convenience stores occupy spaces of 2,400 sq.ft. in freestanding facilities. Growth opportunities are sought in the existing market.

For more information, contact Don Davis, Miller Enterprises, Inc., 331 Central Avenue, Crescent City, FL 32112; 904-698-3200, Fax 698-4065.

Whatchamacallit Fashions operates six locations in TX and TN. The apparel stores occupy spaces of 2,000 sq.ft. to 10,000 sq.ft. in regional malls, power and strip centers. Preferred anchors include upscale tenants. Plans call for six openings in the coming 18 months. Expansion will take place in AL, FL, GA, LA and TN. Preferred demographics include a population of 100,000 within five miles earning $50,000 as the average income.

For more information, contact Bill Danches, Whatchamacallit Fashions, 17194 Preston Road/ Suite 101, Dallas, TX 75248; 214-380-1313, Fax 380-2175.

Gregerson's Food, Inc. does business as Gregerson's at 10 locations in AL and GA. The supermarkets occupy spaces of 12,000 sq.ft. to 85,000 sq.ft. in strip centers. Plans call for two openings during 1996. Expansion will take place in AL.

For more information, contact Stan Clark, Gregerson's Food, Inc., 644 Walnut Street, Gadsden, AL 35999; 205-549-0644, Fax 547-5510.

Uptons Dept. Stores, Inc. trades as Uptons at 34 locations in GA, NC, SC, TN and VA. The department stores occupy spaces of 60,000 sq.ft. in regional malls, power and strip centers. Plans call for up to four openings annually. Expansion will take place in the existing states.

For more information, contact Rick Baxter, Uptons Dept. Stores, Inc., 6251 Crooked Creek Road, Norcross, GA 30092; 770-662-2500, Fax 770-662-2609.

Cowboy Maloney's Electric City operates 10 locations in MS. The appliance and electronics stores occupy spaces of 25,000 sq.ft. in freestanding facilities and strip centers. Plans call for up to three openings within the coming 12 months. Expansion will take place in the existing market.

For more information, contact Ed Maloney, Cowboy Maloney's Electric City, 1313 Harding Street, Jackson, MS 39202; 601-948-5600, Fax 948-5617.

Saslow's, Inc. trades as Saslow's at 12 locations in NC. The jewelry stores occupy spaces of 1,000 sq.ft. in regional malls. Growth opportunities are sought in NC and VA.

For more information, contact Everett Saslow, Saslow's, Inc., PO Box 14189, Greensboro, NC 27415; 910-272-1307, Fax 272-7117.

Bestway, Inc. operates 35 locations in Al, MS and TN. The stores, offering household appliances, electronics, jewelry and furniture on a rent-two-own basis, occupy spaces of 3,400 sq.ft. in freestanding facilities and strip centers. Growth opportunities are sought in the existing markets.

For more information, contact Lloyd Goldstein, Bestway, Inc., 7800 Stemmons Freeway/ Suite 320, Dallas, TX 75247; 214-630-6655, Fax 630-8404.

Georgia Girl Fashions, Inc. trades as Georgia Girl Fashions at 12 locations in GA. The women's apparel stores, selling clothing at off-price points, occupy spaces of 2,500 sq.ft. to 3,000 sq.ft. in regional malls and strip centers. Growth opportunities are sought in the existing market.

For more information, contact Bernie Kishton, Georgia Girl Fashions, Inc., 1665 Lakes Parkway/ Suite 110, Lawrenceville, GA 30243; 404-963-1700, Fax 995-7226.

E.W. James & Sons Supermarkets operates 16 locations in KY and TN. The stores occupy spaces of 19,000 sq.ft. in strip centers. Plans call for up to 10 openings within the coming year. Expansion will take place in the existing markets.

For more information, contact David James, E.W. James & Sons Supermarkets, 1308-14 Nailing Drive, Union City, TN 38261; 901-885-0601, Fax 885-9334.

GCJ Enterprises, Inc. trades as Ritz Food Stores at 20 locations in AL and FL. The convenience and fast food stores, occupy spaces of 1,200 sq.ft. to 2,800 sq.ft. in strip centers. Preferred anchors include Wal*Mart, hotels and fast food restaurants. Plans call for six openings in the coming 18 months. Expansion will take place in AL, FA and GA. Preferred demographics include a population of 1,000 within one mile earning $20,000 as the average income. Leases running 10 to 15 years are typical.

For more information, contact Gary Jones, GCJ Enterprises, Inc., 806 Highway 90 West, Crestview, FL 32536; 904-682-8337, Fax 682-8321.

Burnett's Shoes, Inc. trades as Burnett's Shoes/Naturalizer at six locations in KY and TN. The shoe stores occupy spaces of 1,500 sq.ft. to 2,500 sq.ft. in downtown store fronts and regional malls. Growth opportunities are sought in TN.

For more information, contact John Burnett, Burnett's Shoes, Inc., 214 South First Street, Union City, TN 38261; 901-885-1612, Fax 901-885-7081.

Restaurant Management Services, Inc. trades as Popeye's, Shoney's and Church's Chicken at 124 locations in FL and GA. The restaurants occupy spaces of 1,500 sq.ft. to 6,000 sq.ft. in freestanding facilities. Plans call for the opening of 10 Popeye's and three Shoney's restaurants in the coming 18 months. Expansion will take place in the existing markets.

For more information, contact Bill Hickman, Restaurant Management Services, Inc., 1031 East Fowler Avenue, Tampa, FL 33612; 813-977-2977, Fax 978-1330.

First Video operates four locations in VA. The video stores occupy spaces of 4,000 sq.ft. in strip centers. Plans call for three openings in the coming 18 months. Expansion will take place in the existing market.

For more information, contact Allan Greenberg, First Video, 3301 Kings Charter Drive, Ashland, VA 23005; 804-550-2882, Fax 550-2111.

U.S. Factory Outlets, Inc. trades as U.S. Factory Outlets at 24 locations nationwide. The discount stores, selling general merchandise, apparel and closeouts at bargain prices, occupy spaces of 30,000 sq.ft. to 52,000 sq.ft. in regional malls, power and strip centers. Growth opportunities are sought nationwide.

For more information, contact Frederic Raiff, U.S. Factory Outlets, Inc., Seven Penn Plaza, New York, NY 10001; 212-563-3650, Fax 967-9872.

Jan's Card Shops, Inc. trades as Jan's Card Shop at nine locations in AL, MS and TN. The stores, selling Hallmark cards and gifts, occupy spaces of 2,500 sq.ft. to 3,000 sq.ft. in regional malls. Growth opportunities are sought in the existing market.

For more information, contact Joe Alldredge, Jan's Card Shops, Inc., 902 Horton Road, Albertville, AL 35950; 205-878-8192, Fax 878-8194.

Delchamps, Inc. trades as Delchamps at 118 locations in AL, FL, LS and MS. The supermarkets occupy spaces of 35,000 sq.ft. to 55,000 sq.ft. in strip centers. Plans call for two openings in the coming 18 months. Expansion will take place within the existing markets.

For more information, contact Larry Griffin, Delchamps, Inc., 305 Delchamps Drive, Mobile, AL 36633; 334-433-0437, Fax 433-0431, Ext. 287.

R.W. Reed Co. does business as Reed's at four locations in MS. The accessories stores occupy spaces of 5,000 sq.ft. in downtown store fronts, freestanding facilities, regional malls and specialty centers. Growth opportunities are sought in the Southern region. Leases running 20 years are typical.

For more information, contact Jack Reed, Jr., R.W. Reed Co., 129-131 West Main Street, Tupelo, MS 38801; 601-842-6453, Fax 884-8254.

The Pantry operates 400 locations in KY, IN, NC, SC and TN. The convenience stores occupy spaces of 2,400 sq.ft. to 3,200 sq.ft. in freestanding facilities. Plans call for the opening of 20 units annually. Expansion will take place in the existing markets.

For more information, contact John Hearne, The Pantry, 1801 Douglas Drive, Sanford, NC 27330; 919-774-6700, Fax 774-3329.

Eye-Site Optical of Georgia, Inc. operates seven locations in GA. The optical stores occupy spaces of 1,800 sq.ft. to 2,400 sq.ft. in freestanding facilities and strip centers. Growth opportunities are sought in the existing market.

For more information, contact Ray Rupured, Eye-Site Optical of Georgia, Inc., 5653 Buford Highway, Doraville, GA 30340; 404-457-4728.

Gas Mart, Inc. trades as Minuteman Food Mart at 14 locations in NC. The convenience stores occupy spaces of 2,400 sq.ft. in freestanding facilities. Plans call for two openings in the coming 18 months. Expansion will take place in the existing market.

For more information, contact Mac Campbell, Gas Mart, Inc., 1106 West Broad Street, Elizabethtown, NC 28337; 910-862-4107, Fax 862-4344.

Pinch A Penny operates 110 locations in AL, FL and GA. The swimming pool supply stores occupy spaces of 5,000 sq.ft. in freestanding facilities and strip centers. Growth opportunities are sought in the existing markets.

For more information, contact John Thomas, Pinch A Penny, 14480 62nd Street North, Clearwater, FL 34620; 813-531-8913, Fax 536-8066.

Clyde Bruner Enterprises trades as Krispy Chic at 13 locations in GA. The fast food restaurants occupy spaces or 1,200 sq.ft. in freestanding facilities and strip centers. Plans call for as many as two openings in the coming 18 months. Expansion will take place in the existing market.

For more information, contact Clyde Bruner, Clyde Bruner Enterprises, 116 Oglethorpe Professional Court, Savannah, GA 31406; 912-354-1197, Fax 354-1180.

Jackson Industries, Inc. trades as Jackson Camera & Video at 10 locations in SC. The stores, offering one-hour film processing and a photography studio, occupy spaces of 800 sq.ft. to 1,200 sq.ft. in freestanding facilities, regional malls and strip centers. Growth opportunities are sought in the existing market.

For more information, contact John Jackson, Jackson Industries, Inc., 405 Greenlawn Drive, Columbia, SC 29209; 803-776-7000, Fax 776-6555.

Kash N' Karry Food Stores, Inc. trades as Kash N' Karry Food Stores at 99 locations in FL. The supermarkets occupy spaces of 45,000 sq.ft. in strip centers. Growth opportunities are sought in the existing market.

For more information, contact Dee Prettack, Kash N' Karry Food Stores, Inc., 6422 Harney Road, Tampa, FL 33680; 813-621-0200, Ext. 326, Fax 628-5861.

Enmark Stations, Inc. trades as Enmark at 62 locations in GA, NC and SC. The convenience stores, which also sell gasoline, occupy spaces of 1,000 sq.ft. to 3,000 sq.ft. in freestanding facilities. Growth opportunities are sought in the existing markets.

For more information, contact Dwight Harrison, Enmark Stations, Inc., North Lathrop Avenue, Savannah, GA 31402; 912-236-1331, Fax 235-3868.

Lucia, Inc. trades as Lucia Factory Store at nine locations in CA, NV, DE, MA, VA and NC. The women's apparel stores occupy spaces of 2,500 sq.ft. to 2,800 sq.ft. in outlet and strip centers. Plans call for two openings in the coming 18 months. Expansion will take place along the NC and SC coasts. Leases running five years are typical.

For more information, contact Michael Greenberg, Lucia, Inc., PO Box 12129, Winston-Salem, NC 27117; 910-788-4901, Fax 784-9148.

Fred's, Inc. trades as Fred's at 225 locations in AL, AR, GA, LA, MO, MS, TN and KY. The stores, selling family apparel as well as health and beauty aides, occupy spaces of 12,000 sq.ft. to 16,000 sq.ft. in freestanding facilities, power and strip centers. Plans call for 25 openings in the coming 18 months. Expansion will take place in the existing markets.

For more information, contact Tim Stubbs, Fred's, Inc., 4300 New Getwell Road, Memphis, TN 38118; 901-365-8880, Fax 365-8865.

United Clothing, Inc. does business as The Forum, Emporio and Metropolis at seven locations in FL. The accessories stores occupy spaces of 2,800 sq.ft. in regional malls. Preferred anchors include Burdine's, Saks and Neiman Marcus. Plans call for three openings in the coming 18 months. Expansion will take place in the existing market. Leases running 10 years are typical.

For more information, contact Jack Kuper, United Clothing, Inc., 2550 NW 39th Street, Miami, FL 33142; 305-638-4322, Fax 638-4437.

Grand Piano & Furniture, Inc. trades as Grand Piano & Furniture at 21 locations in MD, TN and VA. The home furnishings stores occupy spaces of 60,000 sq.ft. in regional malls. Preferred anchors include Kmart, Wal*Mart and major department stores. Plans call for two openings in the coming 18 months. Expansion will take place in SC. Preferred demographics include a population between 200,000 and 300,000 within 30 miles earning $25,000 as the average income.

For more information, contact John Trent, Grand Piano & Furniture, Inc., 4235 Electric Road SW/ Suite 100, Roanoke, VA 24014; 703-776-7000, Fax 776-5340.

Food Country USA operates nine locations in TN and VA. The supermarkets occupy spaces of 25,600 sq.ft. in strip centers. Growth opportunities are sought in VA.

For more information, contact Charles Henderson, Food Country USA, 566 East Main Street, Abington, VA 24210; 703-628-4412, Fax 628-4613.

Incredible Chocolate Chip Cookie Co. operates 15 locations in AL, GA, KY, NC and SC. The stores, selling cookies and frozen yogurt, occupy spaces of 650 sq.ft. in regional malls. Growth opportunities are sought in the existing markets.

For more information, contact Ted Senters, Incredible Chocolate Chip Cookie Co., PO Box 6375, Macon, GA 31208; 912-742-8455, Fax 742-8457.

Crown Central Petroleum Corp. does business as Crown, Fast Fare and Zippy Mart at 350 locations in AL, GA, SC, NC, VA, MD and PA. The convenience stores, which sell gasoline, beer and fast food, occupy spaces of 3,500 sq.ft. in freestanding facilities on at least 40,000 sq.ft. of land. Plans call for up to 30 openings in the coming 18 months. Expansion will take place in NC, VA and MD. Preferred demographics include a traffic count of 20,000 cars per day and 1,500 households within one-half mile. Leases running 10 years with four options of five years each are typical. The company is franchising.

For more information, contact Bob Fritz, Crown Central Petroleum Corp., PO Box 1168, Baltimore, MD 21203; 410-659-4841, Fax 659-4734.

John Huguley Co., Inc. trades as Huguley's at two locations in SC. The stores, selling cards, gifts, office products and books, occupy spaces of 3,000 sq.ft. in downtown store fronts and strip centers. Plans call for one opening in the coming 18 months. Expansion will take place in the existing market.

For more information, contact John Huguley, John Huguley Co., Inc., 75 Wentworth, Charleston, SC 29401; 803-724-8300, Fax 724-8328.

Fashions Direct, Inc. trades as Euro Collections at six locations in AL, FL and GA. The apparel stores occupy spaces of 2,500 sq.ft. in outlet and power centers. Plans call for two openings in the coming 18 months. Expansion will take place in GA. Leases running five years are typical.

For more information, contact Rick Lostin or Steve Prince, Fashions Direct, Inc., 67 Liberty Church Road, Carrolton, GA 30116; 404-854-5488, Fax 854-8464.

Angus I. Hines, Inc. trades as Centry Food Marts at 56 locations in NC and VA. The convenience stores, which also sell gasoline, occupy spaces of 1,400 sq.ft. to 2,800 sq.ft. in freestanding facilities. Growth opportunities are sought in VA.

For more information, contact Bob Story, Angus I. Hines, Inc., 1426 Holland Road, Suffolk, VA 23434; 804-539-2358, Fax 539-8650.

Alanby, Inc. trades as Alanby Outdoor Outfitters at two locations in NC. The sporting goods stores, which specialize in outdoor sports equipment and related accessories, occupy spaces of 2,000 sq.ft. in power centers. Plans call for one opening in the coming 18 months. Expansion will take place in SC.

For more information, contact Alan Barnhart, Alanby, Inc., 349 W. Tremont Avenue/ Suite G, Charlotte, NC 28203; 704-332-2952, Fax 358-8382.

Aztex Enterprises operates 26 locations in TN. The convenience stores occupy spaces of 2,400 sq.ft. to 2,800 sq.ft. in freestanding facilities. Plans call for up to five openings in the coming 18 months. Expansion will take place in TN and VA.

For more information, contact Dave Shely, Aztex Enterprises, 5222 Middlebrook Pike, Knoxville, TN 37950; 615-588-5357, Fax 558-6214.

Ball Photo Supply Co. of NC, Inc. trades as Ball Photo at one location in NC. The store, which offers photography supplies and film processing, occupies a 4,000 sq.ft. space in a strip center. Growth opportunities are sought in NC, SC and TN.

For more information, contact E.L. Ball, Ball Photo Supply Co. of NC, Inc., 85 Tunnel Road, Asheville, NC 28805; 704-252-2443, Fax 253-1457.

J&M Davis Industries does business as Jim Dandy Food Store and Handy House Convenience Store at 19 locations in NC. The convenience stores, which also sell gasoline, occupy spaces of 1,800 sq.ft. in freestanding facilities. Growth opportunities are sought in NC.

For more information, contact James Davis, J&M Davis Industries, 201 Arendell Street, Morehead City, NC 28557; 919-247-6902, Fax 247-7014.

White's of Florida trades as White's Bookstores at six locations in FL. The stores, selling books, cards, gifts and related items, occupy spaces of 3,000 sq.ft. to 6,000 sq.ft. in strip centers. Plans call for as many as two openings in the coming 18 months. Expansion will take place in the existing market.

For more information, contact Debbie White, White's of Florida, 1992 San Marco Boulevard, Jacksonville, FL 32207; 904-396-5405, Fax 399-3376.

Behr Stores, Inc. trades as Behr's at 12 locations in AL, AR, KY, MS and TN. The women's apparel stores occupy spaces of 4,000 sq.ft. in regional malls and strip centers. Plans call for up to five openings in the coming 18 months. Expansion will take place in the existing markets.

For more information, contact Nick Eve, Behr Stores, Inc., 5000 Crittenden Drive, Louisville, KY 40213; 502-367-4411.

Ilderton Oil Co., Inc. trades as Ilicomart at eight locations in NC. The convenience stores occupy spaces of 1,800 sq.ft. to 2,500 sq.ft. in freestanding facilities. Growth opportunities are sought in the existing market.

For more information, contact Mike Ilderton, Ilderton Oil Co., Inc., 7145 W. Fairfield Road, High Point, NC 27264; 910-861-2222, Fax 861-4600.

K&B Drugs, Inc. operates 180 locations in AL, LA, MS, TN, FL and TX. The drug stores occupy spaces of 12,000 sq.ft. to 15,000 sq.ft. in freestanding facilities and strip centers. Plans call for as many as four openings in the coming 18 months. Expansion will take place in the existing markets.

For more information, contact Virginia Besthoff, K&B Drugs, Inc., K&B Plaza, Lee Circle, New Orleans, LA 70130; 504-585-4404, Fax 585-4535.

HN Funkhouser & Co. trades as Handy Mart at 14 locations in VA and WV. The convenience stores occupy spaces of 2,400 sq.ft. in freestanding facilities. Plans call for the opening of one store annually. Expansion will take place in the existing markets. Leases running 20 years are typical.

For more information, contact Robert Clayter, HN Funkhouser & Co., PO Box 2038, Winchester, VA 22604; 703-662-0833, Fax 722-4767.

Automotive 1 Parts Stores, Inc. trades as Automotive 1 Parts Stores at 24 locations in FL. The automotive parts and accessories stores occupy spaces of 6,000 sq.ft. in a variety of real estate settings. Plans call for as many as three openings in the coming 18 months. Expansion will take place in Central FL. The company performs its own build-out.

For more information, contact Bobby Gentry, III, Automotive 1 Parts Stores, Inc., 701 Church Street, Orlando, FL 32805; 407-422-1110, Fax 422-1041.

Coastal Investments, Inc. does business as Tinee Giant at nine locations in VA. The convenience stores, which also sell gasoline, occupy spaces of 2,300 sq.ft. in freestanding facilities and strip centers. Preferred anchors include Wal*Mart. Plans call for three openings in the coming 18 months. Expansion will take place in the existing market. Leases running 20 years are typical.

For more information, contact Mauro Zenarolla, Coastal Investments, Inc., 1080 Aragona Boulevard, Virginia Beach, VA 23455; 804-552-0000, Fax 499-8386.

Eastern Petroleum Corp. trades as EP Food Marts at nine locations in NC. The convenience stores occupy spaces of 1,200 sq.ft. in freestanding facilities. Plans call for three openings in the coming 18 months. Expansion will take place in the existing market.

For more information, contact L.W. Locke, Eastern Petroleum Corp., 800 Ringwood Road, Enfield, NC 27823; 919-445-5131, Fax 445-3634.

Financial News...

Ben Franklin Retail Stores, Inc. (708-462-6100) reported a net loss of $1.5 million for its first quarter of fiscal 1996, compared to a net loss of $800,000 during the same period last year. The loss was attributed to one-time start-up costs. The company also reported a first quarter net sales increase of 19% to $89.3 million, up from $75.2 million last year. The company currently operates 34 company-owned stores and franchises more than 300 craft stores and 550 variety stores.

Outback Steakhouse, Inc. (813-282-1225) reported that its second quarter net income was $12.861 million compared to $9.690 million during the same period last year. Second quarter revenues increased 39% to $154.48 million compared to $110.899 million last year and systemwide sales increased 52% to $204.844 million. During the quarter, the company opened 20 Outback Steakhouses and two Carrabba's Italian Grill locations to end with 263 Outback Steakhouses and 14 Carrabba's Italian Grill units in 34 states.

IHOP Corp. (818-240-6055) reported that its second quarter net income increased 10.1% to $4.069 million, compared to $3.695 million last year. Systemwide sales during the quarter increased 14% to $176 million and comparable restaurant sales increased 1.7% for the quarter. During the quarter, the company opened 13 restaurants and currently operates 639 IHOP restaurants in 36 states, Canada and Japan.

Delchamps, Inc. (205-433-0431) reported that sales for its fiscal year 1995, ended July 1, decreased 1.2% to $1.054 billion from $1.067 billion during FY94. Comparable store sales decreased 3.7%. The company also reported that the net loss for FY95 was $25.666 million compared to net earnings of $10.951 million in FY94. This year's results include pretax restructuring charges totaling $28.779 million and a pretax charge of $5.05 million for the write-off of goodwill associated with a 1987 acquisition. Excluding these charges, the net loss for FY 95 was $3.4 million. During its fiscal year, the company purchased seven supermarkets, opened three, closed ten and sold two. It currently operates 118 supermarkets in AL, FL, MS and LA as well as 12 liquor stores in FL.

Gantos, Inc. (616-949-7000) reported that its net sales for the second quarter decreased two percent to $45.6 million and that its comparable store sales decreased one percent. The company currently operates 113 stores in 23 states.

The Dress Barn, Inc. (914-369-4500) reported that its fourth quarter sales increased 10% to $130.5 million compared to $118.2 million for the same period last year. However, comparable store sales decreased one percent during the quarter. The company currently operates 766 stores in 43 states.

The Cato Corporation (704-554-8510) reported that its second quarter sales increased four percent to $114.8 million compared to $110.2 million during the same period last year. However, comparable store sales decreased four percent for the quarter. The company currently operates 659 women's apparel stores in 22 states under the tradenames Cato Fashion/Cato Plus and It's Fashion!

Wendy's International, Inc. (614-764-3099) reported that its second quarter net income was $40.1 million, up from $33.3 million during the same period last year. Revenues were $380 million, up from $367 million last year. During the quarter, the company opened 56 franchised and 13 company restaurants and currently operates 4,503 units in 34 countries. Another 100 units were under construction during the quarter.

Sunglass Hut International (305-461-6212) reported that its second quarter sales increased 41.4% to $127.7 million compared to $90.3 million during the same period last year. Comparable store sales increased 9.5%. The company currently operates 1,415 stores throughout North America, the Caribbean, Europe and Mexico.

Applebee's International, Inc. (913-967-4000) reported a second quarter net earnings increase of 60% to $6.811 million compared to $4.257 million during the same period last year. Total system sales increased 42% to $300.2 million and comparable store sales increased 1.9% for the quarter. The company operates and franchises more than 600 restaurants under the Applebee's Neighborhood Grill and Bar and Rio Bravo Cantina tradenames.

The May Department Store Company (314-342-6300) reported that its second quarter net earnings increased to $141 million from $130 million during the same period last year. Second quarter sales increased 9.4% to $2.87 billion from $2.62 billion last year. The company, which recently acquired 16 stores from Woodward & Lothrop, currently operates 315 department stores trading as Hecht's, Lord & Taylor, Kaufmann's, Filene's, Foley's, Robinson-May and Famous-Barr, as well as 4,586 Payless ShoeSource and Payless Kids stores.

Venture Stores, Inc. (314-281-7800) reported that its second quarter sales were up to $456.8 million compared to $439.6 million during the same period last year. However, comparable store sales decreased 4.9%. The company currently operates 117 discount stores in IL, MO, TX, KS, IN, OK, KY, AR and IA.

Claire's Stores, Inc. (305-433-3900) reported that its second quarter sales increased 19% to $77.278 million, up from $64.927 million during the same period last year. Comparable store sales increased seven percent. The company currently operates 1,261 women's accessories stores throughout North America, the Caribbean and Japan.

The Limited, Inc. (614-479-7000) reported that its second quarter net sales increased eight percent to $1.719 billion compared to $1.585 billion during the same period last year. Second quarter net income of $48.8 million was also reported. The company currently operates more than 5,000 specialty stores under the trade names Victoria's Secret, Bath & Body Works, Cacique, Penhaligon's, Express, Lerner New York, Lane Bryant, Limited Stores, Henri Bendel, Structure, Abercrombie & Fitch, Limited Too and Gaylan's. The company also operates a mail-order catalog division through Victoria's Secret.

General Nutrition Companies, Inc. (412-288-4621) reported that its second quarter revenues increased 37% to $194 million and that its pre-tax earnings increased 58% to $25.8 million. Comparable store sales for the quarter increased 16.2% at company-owned locations and 19.3% at franchised locations. The company currently operates 1,433 company stores and franchises another 839 stores.

Who's Opening and Where...

Walgreens (708-940-2680) plans to open up to 15 stores in the Dallas-Fort Worth, TX area beginning in the Fall of 1996.

The Sharper Image (415-445-6000) recently opened a 4,790 sq.ft. Sharper Image SPA store at Broadway Plaza in Walnut Creek, CA. The new concept store features an assortment of products for beauty, fitness, massage, sleep, home and health.

Pearl Artist & Craft (305-564-5700) recently opened stores in Miami and Orlando, FL and is planning to open stores in San Francisco, CA and Chicago, IL.

HomeBase (714-442-5000) recently opened a home improvement store in Renton, WA.

Sears (708-286-2500) plans to open up to 400 Sears Hardware stores nationwide by 1998.

Standard Theaters (310-410-2300) recently opened a nine-screen movie theater at Restaurant Row in Honolulu, HI. The company is looking for additional locations for first and second run theaters and is interested in locations that are being abandoned by the present operator.

Pathmark (908-499-3357) recently opened a 64,500 sq.ft. Pathmark Super Center at Cedarbrook Plaza in Wyncote, PA.

Thrift Drug (215-949-4909) recently opened a 10,000 sq.ft. drug store in Sewickley, PA.

Rex Stores (404-623-0811) plans to open 31 stores before the end of November. The company plans to open four stores in NY; three stores each in CO, FL, ID, IL, TX and WY; two stores in IA; and one store each in KY, NC, NE, OH, PA, WA and WI. The electronics retailer currently operates 168 stores.

Ralphs Grocery Company (310-884-9000) recently opened Food 4 Less Supermarkets in Santa Ana and Boyle Heights, CA.

Barnes & Noble (212-633-3512) recently opened a bookstore in Naples, FL and is planning to open units in Long Beach, CA and Reston, VA during early 1996.

Dunham's (810-674-4991) recently opened a 40,000 sq.ft. Dunham's Mega Sports Super Store in Sterling Heights, MI.

Borders (313-995-9702) recently opened a Borders Books and Music store at Gaithersburg Square in Gaithersburg, MD.

Kmart (810-643-1000) is planning to open a 145,000 sq.ft. store on 34th Street in Manhattan, NY during 1996, and is looking to open a 150,000 sq.ft. store at 770 Broadway at Astor Place in Manhattan, NY.

Harris Teeter (704-845-3100) is planning to open a 66,700 sq.ft. supermarket at Princess Anne Plaza in Virginia Beach, VA during May. The company is also planning to open a 54,500 sq.ft. store in Newport News, VA and a unit in Chesapeake, VA before the end of 1996.

Bi-Lo (803-234-1600) recently opened a supermarket at Wendover Square in Guilford County, NC.

Revco (216-425-9811) plans to open a drug store at Wendover Square in Guilford County, NC this month.

Lowe's (910-651-4223) plans to open a 160,000 sq.ft. home center in Adrian, MI during 1996.

Lease Signings

Baita Property Services, Inc. (904-739-2208) leased 1,800 sq.ft. to Ultimate Tan at Reedy Plaza in Orlando, FL and 900 sq.ft. to Clothes Doctor Alteration at River Shoals Village in College Park, GA.

The Sansone Group, Inc. (314-822-9009) leased 3,150 sq.ft. to Sea Horse Pet Shop; 2,100 sq.ft. to Radio Shack and 1,400 sq.ft. to Fu Yu Chinese Restaurant at Gravois Village Plaza in High Ridge, MO; 400 sq.ft. to Comfort Shoe Specialists at Olympic Oaks Village in St. Louis, MO; 1,500 sq.ft. to Stride Rite Children's Shoes at Dierberg Clocktower Place in Creve Couer, MO; 1,050 sq.ft. to Pak Mail at Mid Rivers Center in St. Charles, MO; and 1,337 sq.ft. to Head To Toe, Inc. at South Lakeview Plaza in St. Louis, MO.

Morbitzer Group, Inc. (407-539-1000) leased 1,500 sq.ft. to Echo Point Collection, Inc., 1,300 sq.ft. to C.T. Chukker & Co., Inc. and 5,200 sq.ft. to Park Avenue BBQ of Wellington, Inc. at Wellington Market Place in Wellington, FL; 1,300 sq.ft. to Jim Green Jewelers, Inc. at Crystal River Shopping Center in Crystal River, FL; and 2,112 sq.ft. to Pizzazz BarBQue, Inc. at Silver Hills Shopping Center in Orlando, FL.

Mid-America Asset Management Co. (708-954-7300) leased 3,000 sq.ft. to Bruegger's Bagels at Tinley Park Plaza in Tinley Park, IL; 1,800 sq.ft. to Great Clips at Palatine Plaza in Palatine, IL; and 73,876 sq.ft. to Value City for a furniture outlet at Marketplace Shopping Center in Rockford, IL.

The Midland Group (314-576-1900) leased 1,750 sq.ft. to Sears Optical at Beech Grove Plaza Shopping Center in Indianapolis, IN; 1,400 sq.ft. to Great Clips at Greenwood Plaza Shopping Center in Indianapolis, IN; and 53,000 sq.ft. to Homeplace Stores, Inc. at The Plaza at Sunset Hills in Sunset Hills, MO.

Gold & Company, Inc. (412-471-4455) leased 4,000 sq.ft. to Prudential Preferred Realty at Thorn Run Crossing Shopping Center in Moon Township, PA.

Benj. E. Sherman & Sons, Inc. (312-939-1400) leased 7,000 sq.ft. to Video Update at Six Corners Plaza in Chicago, IL; 3,000 sq.ft. to Cottage Style, Inc. in Chicago, IL; 2,500 sq.ft. to Remco at Highland Park Shopping Center in Highland, IN; and 2,000 sq.ft. to American Kitchen & Bath at High Point Centre in Lombard, IL.

The Greenberg Group, Inc. (516-295-0406) leased spaces to Domain at Trump Palace and at Broadway at 22nd Street in New York City; at Northern Boulevard in Manhasset, NY; at Route 4 East in Paramaus, NJ; and at Wisconsin Avenue in Chevy Chase, MD.

Terranomics Retail Services (415-474-6100) leased 4,588 sq.ft. to Senor Grill Colonial Mexican Restaurant at Napa Town Center in Napa, CA.

Divaris Real Estate, Inc. (804-497-2113) leased 1,118 sq.ft. to Desktop Support at Peninsula Center in Newport News, VA; 1,400 sq.ft. to Hair Cuttery at Victory Center in Kiln Creek in Newport News, VA; and an additional 1,000 sq.ft. to Gloucester Florist at York River Crossing Shopping Center in Hayes, VA.

MJB Real Estate Services Corp. (203-222-6200) leased space to Subway and The Card Store at Elm Street Shopping Center in Monroe, CT.

Neal Realty & Investments, Inc. (305-568-0530) leased 7,500 sq.ft. to Rose Auto Stores at Golden Shoe Shopping Center in Hallandale, FL; and 1,040 sq.ft. to Full FX at Lauderdale Lakes Shops in Lauderdale Lakes, FL.

Buyers & Sellers of Commercial Properties

Capital Realty Advisors, Inc. is in the market to purchase strip centers in FL and TX. Properties of interest have GLAs of at least 100,000 sq.ft. and are located in a market having a population of 50,000 within five miles. A cash on cash return of 12% over five years is also preferred.

For more information, contact Donna McDonald at (407-744-1088), Fax (744-9374).

Vita & Vita Realty Corp. represents an investment fund that is in the market to acquire strip centers in the Eastern time zone. Properties of interest are anchored by a supermarket and/or department store and have GLAs ranging from 60,000 sq.ft. to 250,000 sq.ft.

For more information, contact Andrew Vita, Jr. at (201-227-5233).

Worldwide Real Estate Services has the listing to sell Shoppes of Lakeland in Lakeland, FL. The 248,792 sq.ft. project, which is 100% occupied, is anchored by Builders Square, Montgomery Ward and Service Merchandise. The asking price is $14.888 million based on a 10% cap.

For more information, contact Alan J. Lulay at (407-287-9554), Fax (221-3830).

5LP, Inc. has the listing to sell Daly's, a 41,000 sq.ft. department store in Fort Bragg, CA. The asking price is $1.01 million.

For more information, contact Chuck Simon at (707-468-8345), Fax (468-8345).

Shea Commercial Properties, Inc. has the listing to sell a 1.1 acre parcel of land at Salem Center in Salem, NH. The site is located next to N.T.W. Wholesale and BJ's Wholesale Club. The site can also be ground leased. The company also has the listing to sell a 7.1 acre parcel of land in Salem, NH. The site is located on Route 28 and is suitable for retail development. The asking price is $700,000 per acre.

For more information, contact Harry Shea at (603-893-7663), Fax (894-1977).

Paragon Commercial Real Estate has the listing to sell a vacant 81,000 sq.ft. building on approximately 10 acres of land in Las Vegas, NV. The site is located across the street from the municipal golf course, has direct left turn access, an exclusive pylon sign and 1,100 parking spaces. The asking price is $3.2 million.

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

Atkind Realty has the listing to sell an 8,600 sq.ft. Party City in Woodbridge, NJ. The project is net leased to one tenant with many national tenants nearby. The asking price is $1.9 million.

For more information, contact David Atkind at (201-523-2002), Fax (523-6006).

C.R. Warner Realty Group is in the market to purchase shopping centers within a two-hour drive of Philadelphia, PA. Properties of interest have at least two anchors. The company will consider build-to-suits as well.

For more information, contact David Ragone at (609-428-2676), Fax (428-2657).

GP Properties is in the market to purchase large retail projects in the Northeast and CA.

For more information, contact Mark Perechocky at (617-742-4921), Fax (742-6987).

The Braverman Group has the listing to sell a 4,575 sq.ft. retail and office building located on the main shopping street in Greenwich, CT. The asking price is $1.55 million.

For more information, contact Franco Fellah at (203-222-8100), Fax (222-8840).

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

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

Fidinam Realty, Inc. has the listing to sell a Brittain's Fine Furniture & Design Center, a three-story, 40,600 sq.ft. showroom/warehouse in Sugar Land, TX. The project is fully sprinklered, air conditioned and has a security alarm. Forty parking spaces are available. The asking price is $2.5 million. The building can also be net-leased for $7.80 psf.

For more information, contact Darin Gosda or Steve George at (713-820-0747), Fax (820-1673).

Washington Real Estate Investment Trust recently purchased Frederick County Square in Frederick, MD. The 233,000 sq.ft., 100% leased project is anchored by Kmart, MJ Designs, F&M Drugs and Jo-Ann Fabrics. The purchase price was $13.35 million.

For more information, contact Larry E. Finger at (301-929-5900), Fax (929-5910).

Real Estate South has the listing to sell an 8.9 acre parcel of land in GA. The site is located near Outlet Center, Antique Mall, McDonald's and Burger King. The asking price is $175,000.

For more information, contact Linda Clark at (912-956-5050), Fax (956-2318).

J.J. Herman & Associates has the listing to sell a major corporate Mexican restaurant in Newark, OH. The asking price is $850,000.

For more information, contact Jerry Herman at (216-663-0088), Fax (663-2019).

PropertyLink is in the market to purchase a portfolio of single tenant NNN-leased retail sites. Portfolios in the $10 million price-range are of interest.

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

The Keyes Company has the listing to sell a 95,000 sq.ft. shopping center in FL. The 100% occupied project is leased to credit tenants. The asking price is $5.5 million. The company has the listing to sell four Eckerd Drug stores currently under construction in FL. The projects are NNN leased with increases every five years. The company has the listing to sell a Goodyear store currently under construction in FL. Keyes also has the listing to sell a computer store in FL. The project is NNN leased to a NYSE company for 20 years with fixed increases. The company represents a buyer who is in the market to acquire shopping centers having GLAs of at least 100,000 sq.ft. Properties of interest are anchored by supermarkets. Centers with vacancies will be considered. The company also represents a buyer in the market to purchase Wal*Mart, Home Depot or other large NNN leased properties. Deals can be all cash or buyer will assume the mortgage.

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

United Commercial Realty brokered the sale of 1.26 acres of land in Arlington, TX. Racetrac Petroleum purchased the site from I-20 S. Collins Ltd.