Dealmakers Magazine March 6, 2009 Volume XXIV No. IX
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Timberland Retail, Inc. trades as Timberland at nine locations nationwide. The stores, offering apparel, shoes and accessories, occupy spaces of 1,500 sq.ft. to 2,300 sq.ft. in malls, specialty centers and streetfronts. Limited expansion is sought throughout NY during the coming 18 months. For more information, contact Greg Rainforth, Timberland Retail, Inc., 200 Domain Drive, Stratham, NH 03885; 603- 772-9500, Fax 603-773-1635; Email: [email protected]; Web site: www.timberland.com. Annie Sez operates 45 locations throughout CT, FL, MD, MI, NJ, NY and PA. The women’s apparel stores occupy spaces of 12,000 sq.ft. to 15,000 sq.ft. in freestanding locations and power, specialty and strip centers, in addition to urban/downtown areas. Growth opportunities are sought throughout NJ and NY during the coming 18 months, with representation by Welco Realty. Kid City operates 15 locations throughout NJ, NY and PA. The children’s apparel stores occupy spaces of 10,000 sq.ft. in downtown areas, malls and outlet, power and strip centers. Growth opportunities are sought throughout NJ and NY during the coming 18 months, with representation by Welco Realty. For more information, contact Jerry Welkis, Welco Realty, 2525 Palmer Avenue, New Rochelle, NY 10801; 914-576-7500, Fax 914- 576-7596; Email: [email protected]; Web sites: www.welcorealty and www.anniesez.com. Charming Shoppes , Inc. trades as Catherines at 450 locations nationwide. The stores, offering plus-size classic apparel and accessories for women 40 to 65 years old, occupy spaces of 4,000 sq.ft. in strip centers. Growth opportunities are sought throughout the existing market during the coming 18 months. Preferred cotenants include Kohl’s , Target and T. J . Maxx. The company also trades as Fashion Bug at 900 locations nationwide. The stores, offering women’s apparel and accessories for all sizes including plus, misses, juniors and girls, occupy spaces of 7,000 sq.ft. in strip centers. Growthopportunitiesaresoughtthroughouttheexisting market during the coming 18 months. Typical leases run five years. Preferred cotenants include Kohl’s and Target. Preferred demographics include a population of 70,000 within five miles earning $35,000 as the average household income. The company also trades as Lane Bryant at 900 locations nationwide. The stores, offering stylish, plus-sized women’s apparel from sizes 14 to 28, occupy spaces of 4,500 sq.ft. to 7,500 sq.ft. in lifestyle, power, specialty and strip centers. Growth opportunities are sought throughout the existing market during the coming 18 months. Preferred cotenants include Bed Bath & Beyond, Kohl’s, Target and T.J. Maxx. Preferred demographics include a trade area population of 150,000 earning $40,000 to $65,000 as the average household income. For more information, contact Jon Graub, Charming Shoppes, Inc., 450 Winks Lane, Bensalem, PA 19020; 215-638-6909, Fax 215- 638-6919; Emails: [email protected]or [email protected]; Web site: www.charmingshoppes.com. Postmaster: Periodical Important News Please Expedite Volume XXIV No. IX March 6, 2009 For more news go to: www.dealmakers.net Reporting The Nation’s Weekly News on Retailing & Retail Real Estate FEATURING THIS ISSUE CONTAINS INFORMATION ON: * Retailers operating 25,198 locations with plans to open 2,029 sites * Real estate valued in excess of $110.24 million to be bought, sold & financed * Leasing activity on over 8.155 million sq.ft. of retail properties Apparel Chains Expand Nationwide (continued on page three) Pg. 4 Pg. 6 Pg. 8 Pg. 9 Pg. 10 Pg. 12 Pg. 12 Pg. 13 Pg. 13 Pg. 14 Pg. 17 Pg. 20 Pg. 22 Pg. 30 Observations & Conversations Profile Centdev Properties, LLC ....... New Construction Botton Realty is preleasing a 16,000 sq.ft. center in Wildwood, NJ ...................... Buyers & Sellers Neuberger/Reid Properties looks to acquire shopping centers nationwide ............... Lease Signings Sax Realty, Inc. negotiated leases with McDonald’s and Big Lots ................................ Openings Jimmy John’s looks to open a restaurant in Raleigh, NC ...... Walgreens plans to open a drugstore in Clemson, SC ..... Food Retailers Expand RA Sushi looks to expand throughout AZ ...................... Exclusives Main & Main, Inc. represents a number of retailers with their expansion throughout CA ...................... In The News Colliers Spectrum Cauble hires four .............................. Lead Sheet Speedee Oil Change & Tune Up looks for sites throughout CA, LA and NC..................... Olan Mills plans to expand nationwide ........................... Space Place .......................... MVP ..................................... ICSC Carolinas Idea Exchange
Transcript
Timberland Retail, Inc. trades as Timberland at nine locations nationwide. The stores, offering apparel, shoes and accessories, occupy spaces of 1,500 sq.ft. to 2,300 sq.ft. in malls, specialty centers and streetfronts. Limited expansion is sought throughout NY during the coming 18 months. For more information, contact Greg Rainforth, Timberland Retail, Inc., 200 Domain Drive, Stratham, NH 03885; 603-772-9500, Fax 603-773-1635; Email: [email protected]; Web site: www.timberland.com.
Annie Sez operates 45 locations throughout CT, FL, MD, MI, NJ, NY and PA. The women’s apparel stores occupy spaces of 12,000 sq.ft. to 15,000 sq.ft. in freestanding locations and power, specialty and strip centers, in addition to urban/downtown areas. Growth opportunities are sought throughout NJ and NY during the coming 18 months, with representation by Welco Realty. Kid City operates 15 locations throughout NJ, NY and PA. The children’s apparel stores occupy spaces of 10,000 sq.ft. in downtown areas, malls and outlet, power and strip centers. Growth opportunities are sought throughout NJ and NY during the coming 18 months, with representation by Welco Realty. For more information, contact Jerry Welkis, Welco Realty, 2525 Palmer Avenue, New Rochelle, NY 10801; 914-576-7500, Fax 914-576-7596; Email: [email protected]; Web sites: www.welcorealty and www.anniesez.com.
Charming Shoppes, Inc. trades as Catherines at 450 locations nationwide. The stores, offering plus-size classic apparel and accessories for women 40 to 65 years old, occupy spaces of 4,000 sq.ft. in strip centers. Growth opportunities are sought throughout the existing market during the coming 18 months. Preferred cotenants include Kohl’s, Target and T.J. Maxx. The company also trades as Fashion Bug at 900 locations nationwide. The stores, offering women’s apparel and accessories for all sizes including plus, misses, juniors and girls, occupy spaces of 7,000 sq.ft. in strip centers. Growth opportunities are sought throughout the existing market during the coming 18 months. Typical leases run five years. Preferred cotenants include Kohl’s and Target. Preferred demographics include a population of 70,000 within five miles earning $35,000 as the average household income. The company also trades as Lane Bryant at 900 locations nationwide. The stores, offering stylish, plus-sized women’s apparel from sizes 14 to 28, occupy spaces of 4,500 sq.ft. to 7,500 sq.ft. in lifestyle, power, specialty and strip centers. Growth opportunities are sought throughout the existing market during the coming 18 months. Preferred cotenants include Bed Bath & Beyond, Kohl’s, Target and T.J. Maxx. Preferred demographics include a trade area population of 150,000 earning $40,000 to $65,000 as the average household income. For more information, contact Jon Graub, Charming Shoppes, Inc., 450 Winks Lane, Bensalem, PA 19020; 215-638-6909, Fax 215-638-6919; Emails: [email protected] or [email protected]; Web site: www.charmingshoppes.com.
Postmaster: PeriodicalImportant
NewsPlease
Expedite
Volume XXIV No. IX March 6, 2009
For more news go to:www.dealmakers.net
Reporting The Nation’s Weekly News on Retailing & Retail Real Estate
FEaTuRiNg
ThIs Issue coNTaINs INforMaTIoN oN:* Retailers operating 25,198 locations with plans to open 2,029 sites
* Real estate valued in excess of $110.24 million to be bought, sold & financed* Leasing activity on over 8.155 million sq.ft. of retail properties
Apparel Chains Expand Nationwide
(continued on page three)
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Observations & Conversations
ProfileCentdev Properties, LLC .......
New ConstructionBotton Realty is preleasing a 16,000 sq.ft. center in Wildwood, NJ ......................
Lease SigningsSax Realty, Inc. negotiated leases with McDonald’s and Big Lots ................................
OpeningsJimmy John’s looks to open a restaurant in Raleigh, NC ......
Walgreens plans to open a drugstore in Clemson, SC .....
Food Retailers ExpandRA Sushi looks to expand throughout AZ ......................
ExclusivesMain & Main, Inc. represents a number of retailers with their expansion throughout CA ......................
In The NewsColliers Spectrum Cauble hires four ..............................
Lead SheetSpeedee Oil Change & Tune Up looks for sites throughout CA, LA and NC .....................
Olan Mills plans to expand nationwide ...........................
Space Place ..........................
MVP .....................................
ICSC Carolinas Idea Exchange
Marks Work Wearhouse operates 350 locations throughout Canada. The stores, offering outdoor apparel for men and women, in addition to workwear, safety footwear, casual and business wear, occupy spaces of 5,000 sq.ft. to 15,000 sq.ft. in freestanding locations and power centers. Growth opportunities are sought throughout the existing market during the coming 18 months. For more information, contact Paul Wilson, Marks Work Wearhouse, 1035-64th Avenue Southeast #30, Calgary, Alberta, Canada T2H 2J7; 403-255-9220, Fax 403-692-7566; Web site: www.marks.com.
Masters, Inc. trades as Masters at six locations throughout MI and upstate NY. The stores, offering men’s and women’s apparel, occupy spaces of 5,000 sq.ft. to 12,000 sq.ft. in freestanding locations and strip centers. Growth opportunities are sought throughout the existing markets during the coming 18 months. For more information, contact Lisa Hayen, Masters, Inc., 111 Hempstead Turnpike, 2nd Floor, West Hempstead, NY 11512; 516-292-3710, Fax 516-292-3836.
Patchington operates 25 locations throughout FL. The stores, offering women’s apparel, occupy spaces of 1,500 sq.ft. in strip and specialty centers. Growth opportunities are sought throughout the existing market during the coming 18 months. Typical leases run five years. For more information, contact Maureen Jack, Patchington, 13920 58th Street North, Suite 1006, Clearwater, FL 33760; 727-536-2195 Ext. 226, Fax 727-535-0296.
Jos. A. Bank operates 425 locations nationwide. The stores, offering a full line of men’s tailored and casual apparel, as well as footwear and accessories, occupy spaces
of 4,500 sq.ft. in freestanding locations, lifestyle centers and outparcels. Growth opportunities are sought throughout the St. Louis, MO metropolitan area during the coming 18 months, with representation by L3 Corp. Rainbow Fashion operates 1,000 locations nationwide. The stores, offering popular-priced apparel for juniors, women and children, occupy spaces of 4,000 sq.ft. in power centers. Growth opportunities are sought throughout the St. Louis, MO metropolitan area during the coming 18 months, with representation by L3 Corp. Ross Dress For Less operates 904 locations throughout AL, AZ, CA, CO, FL, GA, HI, ID, LA, MD, MI, MT, NC, NJ, NM, NV, OK, OR, PA, SC, TN, TX, UT, VA, WA and WY. The stores, offering discounted brand-name apparel for men, women and children, occupy spaces of 33,000 sq.ft. in power centers. Growth opportunities are sought throughout MO during the coming 18 months, with representation by L3 Corp. For more information, contact Craig Wielansky or Jay Cohen, L3 Corp., 12655 Olive Boulevard, Suite 220, St. Louis, MO 63141; 314-469-7400; Web site: www.l3corp.net.
AppArel ChAins expAnd nAtionwide
www.dealmakers.net The Dealmakers March 6, 2009 page 3
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page 4 March 6, 2009 The Dealmakers www.dealmakers.net
Yep, it’s grim out there but, rather than giving up, now is the time to build relationships and retool and strengthen companies. It’s definitely an opportunity to gain market share, because if you’re hurting then your weaker competitor is most likely on its death bed. The first thing to do in times like these, both corporate-wise and on a personal level,
is to learn how to live on less, on all accounts: cash flow, net income and liquidity, at least for the next year or two. (Then, hopefully, we can all go back to the party-hearty days with some of us making obscene amounts of money and all of us living well.) The next thing to do is to let everybody know that you’re still at your desk and looking to do business. Deals will get done between now and the impeding uptick, but owners and brokers have to reconcile with themselves that the smart retailers willing to sign new leases expect to capitalize on cheaper rents. Perhaps I’m just a naive, rose colored glasses-wearing Pollyanna, but I do think things will get better. It might take years for our industry to get back to its historical peak, but those of us that survive this storm will have earned our gray hairs and worry lines. Unfortunately, as more financial scandals and bank failures come to light, we’re probably in for even higher unemployment rates and lower consumer confidence levels for the short term, which has a direct correlation to increased vacancies and stalled new developments. However, with some luck and a prayer, the stimulus package may help keep the economy afloat and put a band-aid on the hemorrhaging. Every retailer on the planet is looking for a rent reduction, but some of them really need the short-term relief to survive. I was talking with an owner of a shopping center that’s suffering because 17% of its trade-area residents are unemployed. There’s nothing a landlord can do to keep tenants in those circumstances except lower the rents and work with them. A friend was telling me about a local mom-and-pop tenant of his that’s been paying their rent on time for the past 17 years. They had just called him to ask for some rent relief. After that long of a history without a blip in paying, of course my friend is going to help and hope they make it. Local city officials are starting to put their two cents into lease negotiations on their empty or soon-to-be-vacant store fronts. The city of Charleston, SC is giving free seminars to its merchants on how to renegotiate leases. The town where I live gets most of its revenue from small local businesses that feed off of tourists. The city authorities recently had a town-wide meeting with the commercial landlords to discuss lowering rents so the merchants will stay open. The city’s fear is that it will become a ghost town unless landlords willingly cooperate and share the burden. Their fear is well founded, since the only chains in the town are Starbucks, Dunkin’ Donuts and Rita’s Water Ice. If the landlords don’t try to work with their tenants, (as well as the town extending a helping hand too), then they’ll be trying to re-lease the space, most likely at a lower rent, while trying to collect the back rent from a two-unit chain operator that made a midnight move. Yes, retailers are closing stores right and left, but in the same town I mentioned above, a three-unit chain of consignment shops just opened her fourth store and is opening a fifth unit during the spring in downtown Princeton, NJ. She would have never been able to afford
the rent in Princeton unless she jumped at the chance while the market is down. My hunch is that she’s going to make a small fortune. Although most retailers are giving ultimatums of “lower the rent or I’m taking a hike,” some landlords with brass testicles are willing to call their bluff. I have a friend with centers in rural markets and his standard answer is “No, when are you leaving?” if a tenant asks for help. Supposedly, he’s doing new deals with Tractor Supply Co. and Dollar General to fill his empty space. I’m not sure my poker face would be that stone cold in this retail climate. Especially with the latest store closing reports including: Bruno’s Supermarkets, shutting down 10 stores in its home base of Alabama immediately after filing Chapter 11, leaving it with 56 units operating throughout Alabama and Northern, Florida; Beall’s, a 500-unit chain, closing 12 stores through Arizona, Florida and Georgia in an effort to phase out sites with smaller footprints, and 84 Lumber, a 319-unit chain of home improvement stores that caters to the trade, closing eight more locations after shedding about 80 sites and laying off half their workforce since 2007. Retailers aren’t only going to their landlords and local municipalities asking for help; they’re looking for state-level assistance too. 84 Lumber recently met with state officials of Pennsylvania about possible financial assistance. During November of last year, the governor of Pennsylvania announced a plan in which the state secured a $35 million loan to help Boscov’s, a regional department store chain, as it exited bankruptcy. Seven counties, all of which have Boscov’s stores, were requested to pledge federal Community Development Block Grant funds as collateral. So far, five counties have approved the plan. I truly believe that, for any problem, where there’s a will, there’s a way to make a solution work. With some creativity and patience, landlords and tenants can figure out ways to keep the centers and their stores operating with lower revenue levels, at least during this stretch of history.
Speaking of historical changes, you’re all aware of TARP, the Troubled Asset Relief Program, our federal bailout plan. I got an email with the subject line of “Broker TARP Offered” and the message read “BARP (Broker Assistance Relief Program) Offered! Full commissions paid 100% on lease signing.” That’s a good way for landlords to get brokers motivated to call retailers about new store locations. Well, I’m out of space again. To wrap it up, Alyson reported that the ICSC’s Mid-Atlantic States show in Washington, DC was quiet. Also, we’ve been hearing gruesome rumors about every big-name developer, owner, retailer and brokerage firm out there and most of them are not only untrue but totally unfounded or twisted beyond any stretch of the truth. One of the latest rumors is that the ICSC is closing the South Hall exhibit area for this year’s convention in Las Vegas. We called to clarify and, according to the ICSC, the South Hall will be fully operational, but a small portion is offline for exhibit space. Hope this helps clear up a few misconceptions. Stop by and see us in Charlotte and Monterrey at the ICSC shows,
Ann O’Neal, Publisher
Every retailer on the planet is looking for a rent reduction, but some of them really need the short-term relief to survive.
www.rivercrestrealty.com8816 Six Forks Road, Suite 201
Raleigh, NC 27615Phone: (919) 518-2000
Fax: (919) 424-0001
Looking for Acquisitions • Leasing Great Sites
STATE CENTEr AvAILAbLE SFNEw yOrkStaten Island Coral Island Shopping Center 435 – 2,980 SFStaten Island Tottenville Square 1,273 – 4,415 SF
DELAwArESeaford Sussex Plaza 2,000 & 3,000 SF
FLOrIDAWilton Manors Shoppes of Wilton Manors 1,284 & 15,423 SF
GEOrGIAAtlanta Lenox Village 1,540 SFAugusta Southpointe Plaza Fully LeasedMacon Walnut Creek Plaza 2,000 – 6,000 SF
MAryLANDLandover Landover Crossing 2,000 – 119,244 SFPocomoke City East Town Plaza 3,000 SFFruitland Southtowne Commons Fully Leased
NOrTH CArOLINAAdvance Kinderton Place 1,309 & 1,787 SFChapel Hill Timberlyne 500 – 2,400 SFCharlotte Archdale Marketplace 2,400 - 4,031 SFCharlotte Royal Plaza 520 – 6,676 SFDurham Parkway Plaza Fully LeasedDurham The Village 1,000 – 11,700 SFForest City Hillside Plaza 1,500 – 25,000 SFHendersonville Highlands Square 2,500 – 4,000 SFRaleigh Millbrook Collection 1,225 – 2,150 SFShelby Creekside Plaza 3,120 SFSmithfield Smithfield Plaza 1,500 & 3,000 SFSouthport Tidewater Plaza 3,000 SFTaylorsville Taylorsville 1,200 – 8,363 SFWinston-Salem Hanes Commons 1,400 & 3,300 SF
SOUTH CArOLINABoiling Springs Boiling Springs Center 1,600 & 2,000 SFColumbia Northpointe Commons 2,000 – 35,000 SFFlorence Southside Commons 3,200 SFGaffney Piedmont Plaza 2,000 & 3,200 SFGeorgetown Plantation Plaza 1,200 – 3,000 SFGreenville Haywood Plaza 998 – 5,400 SFGreenville Shoppes at Woodruff 1,500 – 4,000 SFGreenville White Horse Commons 4,000 SFGreenwood Westwood Plaza 4,500 – 27,500 SFGreer Hillview Plaza 2,000 SFLexington East Towne Centre Fully LeasedLexington Village Square 800 & 1,493 SFMyrtle Beach Northwood Plaza 1,103 – 6,400 SFMyrtle Beach Plantation Point 2,458 – 4,122 SFSurfside Beach Surfside Commons 4,000 SF
TENNESSEECookeville Cumberland Station 900 & 3,000 SF
vIrGINIABluefield Ridgeview Plaza 2,000 & 30,000 SFCovington Riverbend 2,800 SFHarrisonburg Garbers Crossing 2,400 SFMartinsville Mountainview Plaza 3,000 – 9,000 SFRadford Peppers Ferry Centre 1,600 SFSouth Boston South Boston 1,200 SF
wEST vIrGINIAPrinceton East River Plaza 30,030 SF
Visit us at Booth 712 at the ICSC Carolinas Idea
Exchange
page 6 March 6, 2009 The Dealmakers www.dealmakers.net
Perhaps no sector of the real estate market has been hit harder by the recession than commercial real estate development. Projects nationwide have been cancelled, postponed or heavily modified as retailers cancel or alter expansion plans and financing dries up. While the situation looks bleak from a national standpoint, there are pockets of progress scattered regionally throughout the country, including the Carolinas.
Centdev Properties, LLC was founded by Dale Tweedy, Ann Vano and Jeff Wakeman in Cornelius, NC during 2002. Despite being one of the largest commercial development firms in the Charlotte, NC area, the company itself is small from a personnel standpoint. Tweedy says, “By operating lean, we can be very flexible and react accordingly in both up and down markets and we minimize the time it takes to manage a large group of people.” The development company currently operates throughout the Mid-Atlantic and Southeast in major markets including Atlanta, GA; Charlotte, NC and Nashville, TN in addition to rural markets such as Greer, SC and Hickory and Salisbury, NC.
Eschewing the rigid departmentalization of many other companies, the partners of Centdev each play multiple roles within the company. Tweedy says, “We are process driven, which gives each of us very specific and focused skill sets in our given area, while still having some responsibility to each of the other departments.” Wakeman is a licensed CPA and general contractor and, using his 25 years of experience in development, oversees the finances and construction management of the company’s projects. Vano is an attorney and former CPA and oversees projects through the entitlement phase in addition to handling all contracts and legal matters for the company. Tweedy works on the front end of the company’s projects, putting projects together and working with land owners and tenants to get a property leased. The three partners, together with an office manager and marketing analyst, form the company’s brain trust that is involved in each and every project. “To keep as flexible as possible,” Tweedy says, “we outsource any external positions that can be utilized on a per project basis.”
Centdev’s flexibility allows them to develop a project very quickly. Tweedy says, “We are very streamlined in our approach to projects and we can get to the construction phase much more quickly than others.” The company can start construction within two to three weeks of closing on a property and construction can be done in as little as three months for single-tenant properties and 10 months for larger, junior
anchored centers. Project delays typically stem from one of two places for Centdev; entitlements and financing. “Very often,” he says, “the entitlement process, pre-marketing, rezoning and many other steps can sometimes take twice as long as the construction process.” Regarding financing, he says, “Banks have made it extremely difficult for any developer to do business in this environment. Whether it’s a new project or existing financing with an ongoing project, the banks are the wild card for any project’s success or failure today.”
Tweedy notes that the current economy has made the search for financing more expansive and labor-intensive. He says, “We are looking at everything. Joint-venture
partnerships and outside investors are going to be a part of each project until the credit crunch eases.” He notes that banks still play a part in financing and that the company has found mid-sized banks still willing to finance, albeit with large equity requirements. He reports that mid-sized regional banks are the easiest to work with, given that large banks are currently inflexible and small banks may have trouble providing large financing packages.
Previous Centdev projects have included North Lake Village, a shopping center located in Charlotte, NC. The company originally planned to construct a strip center but instead worked with the city of Charlotte planning staff to create a village-style center. Tweedy says, “It cost a bit more than we originally planned, but it is a very good center.” The company also developed the award-winning Peakway Market Square, a mixed-use center located within the Raleigh area in Apex, NC. The company is currently developing a 25-acre mixed-use project located at the intersection of South Elm Street and Interstate 40/85 in Greensboro, NC. The project, comprised of several individual adjacent parcels, will include hotels, restaurants and a convenience store. In addition, the company is also in the early stages of several anchored projects and single-tenant developments centered around retailers looking to capitalize on the unique opportunities of the current economy. The company is also considering acquiring stalled projects from other developers, but has not yet acted on any opportunities.
In addition to developing new properties, Centdev is also an accomplished redeveloper of older centers. Tweedy says, “There are some significant
cost savings utilizing an older center, but you have to have a lot of experience in building a financial model of the project. There are traps at every corner that can cost money if they are not accounted for.” A major issue in many redevelopments now is storm water management and whether or not it is grandfathered in to the project site. “In the old days,” he says, “storm water was essentially sheet drained off the site but, in the last few years, it has become a major issue and many municipalities require it to be filtered before returning to natural run-off.”
Water filtration and management is an environmentally-conscious measure used by more and more municipalities as the green movement takes hold. Centdev is a serious player in the green market. Tweedy says, “We keep abreast of the latest in green building technologies, through Urban Land Institute meetings and research, and we partner with architects and construction companies that do as well. We implement these initiatives into our projects whenever possible.”
In addition to finding new development opportunities, Centdev is tackling the challenges of the current environment by looking internally and focusing on existing centers that the company owns. Tweedy says, “Our philosophy with our centers has always been to only sign leases with financially stable tenants, which is now paying off.” He reports that the company has only had weakness with three tenants and has had good success filling vacancies. He attributes this success, in part, to open communication. He says, “In times like these we keep our tenants informed on any news regarding their shopping center that could affect them. Good news or bad news is always better than no news, and our tenants appreciate that.”
The Carolinas feature strong urban and rural markets, drawing retailers of all types. Tweedy notes that each market presents its own challenges. “While it is easier to attract a retailer to an urban or metro market,” he says, “you can find a hole in the coverage of a retailer with rural exposure and it’s easy to argue your case for a site. As long as the numbers work and sales project at an acceptable level, it doesn’t matter if customers are driving one mile or 10 miles to shop.”
With the economy where it is, large companies are suffering from their inability to act as quickly as the market demands. Centdev Properties, LLC, by remaining small, nimble and flexible, is finding its way; making deals and developing projects throughout the Mid-Atlantic and Southeast.
For more information, contact Dale Tweedy, Centdev Properties, LLC, 16930 West Catawba Avenue, Suite 206, Cornelius, NC 28031; 704-895-1535, Fax 704-895-1504; Email: [email protected]; Web site: www.centdev.com.
To feature your company in an upcoming “Profile” in The Dealmakers, contact Ann O’Neal at [email protected]. In your email, please give a brief synopsis of what your company does and what makes it stand out from the crowd.
profile — A monthly Column feAturing retAil reAl estAte CompAnies
Centdev properties, llC: flexible development in An unprediCtAble mArketby Nicholas Hamner
Centdev Properties, LLC partners (left to right): Jeff Wakeman, Ann Vano and Dale Tweedy
DM
� ANCHOR SPACE AVAILABLE - 27,500 s.f.� Shop space available from 2,000 – 3,200 s.f.� Home Depot, Michaels, Old Navy, Bed Bath & Beyond,
Ross Dress for Less, Stein Mart, PetsMart & Rugged WearhouseLeasing Scott McGee office 205.776.6716 cell 205.529.1840
� RETAIL SPACES AVAILABLE - 1,200 – 19,520 s.f.� Old Navy, Office Max, Best Buy, Toys “R” Us, DSW, Bed Bath & Beyond, ULTA,
Dick’s Sporting Goods, REI, Marshalls, Michaels, Stein Mart & A.C. MooreLeasing David Allen office 919.380.8041 cell 919.302.6555 [email protected]
OPPORTUNITIES BY THE SQUARE FOOT
p i a z z a a t p a c e s 3 2 9 0 n o r t h s i d e p a r k w a y s u i t e 2 5 0 a t l a n t a g e o r g i a 3 0 3 2 7p h o n e 6 7 8 . 5 5 3 . 4 0 0 0 w w w. r o n u s p r o p e r t i e s . c o m f a x 6 7 8 . 5 5 3 . 4 0 0 1
Ronus Properties currently owns and manages a portfolio of 4,000,000 square feet of high quality power centers and mixed-use developments.
� ANCHOR SPACE AVAILABLE +/- 25,000 s.f.� Retail spaces available from 1,000 –15,000 s.f.� Dick’s Sporting Goods, Factory Card Outlet, Babies “R” Us,
Crossroads Plaza Cary, NC670,000 s.f. U.S. 1/64 & Walnut St. @ I-40
Hamilton Village Chattanooga, TN416,700 s.f. Gunbarrel Rd., Across from Hamilton Place Mall
Johnson City Crossing Johnson City, TN378,500 s.f. State of Franklin Rd. @ I-26-
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Garden Commercial Properties is developing a 145,000 sq.ft. shopping center located at the intersection of Highway 33 and Butcher Road in Monroe Township, NJ. Area demographics include a population of 102,835 within a seven-mile radius earning an average household income of $94,409. For more information, contact Garden Commercial Properties; 973-467-5000 Ext. 200; Email: [email protected]; Web site: www.gardencommercial.com.
Paul Hanna Management, Inc. is preleasing Turtlemound Pointe, a 33,000 sq.ft. specialty mixed-use center situated on 20 acres at the intersection of Eau Gallie Boulevard and Sarno Road in Melbourne, FL. Spaces from 1,200 sq.ft. are available. Area demographics include a population of 83,801 within a five-mile radius earning a median household income of $42,302. The asking rent is $17.50 psf. The center is slated to open during the winter. For more information, contact Paul Michael Hanna, Paul Hanna Management, Inc., 700 Village Square Crossing, Suite 103, Palm Beach Gardens, FL 33410; 561-655-5337, Fax 561-655-7613; Email: [email protected]; Web site: www.phanna.com.
Princeton Realty Group is redeveloping a 120,000 sq.ft. shopping center located along Route 117 in Bedford Hills, NY. Spaces of 3,000 sq.ft. to 20,000 sq.ft. are available. Cotenants include Panera Bread and ShopRite. The center is slated to open during the summer. For more information, contact Frank Fiorella, Princeton Realty Group, 333 North Bedford Road, Mount Kisco, NY 10549; 914-747-5000, Fax 914-747-6666; Email: [email protected].
Garritano Realty Group is preleasing Riverhead Retail Center, an 11,120 sq.ft. strip center situated on 1.78 acres at the intersection of Route 58 and Osborne Avenue in Riverhead, NY. Area retail includes Home Depot, Target, Borders, T.G.I. Friday’s, Michaels, Home Depot, Applebee’s, Walgreens, CVS, Toys “R” Us and Best Buy. The center is slated to open during the third quarter. For more information, contact Art Garritano, Garritano Realty Group, 982 Montauk Highway, Bayport, NY 11705; 631-776-7600, Fax 631-776-7601; Email: [email protected]; Web site: www.grgllc.com.
New Market Advisors is preleasing Caroline’s Court, a 230,000 sq.ft. shopping center located along Durango Drive in Las Vegas, NV. Lowe’s Home Improvement and Staples anchor the center. Spaces of 1,200 sq.ft.; 2,000 sq.ft.; 3,000 sq.ft. and 5,000 sq.ft. are available. Area demographics include a population of 54,166 within a three-mile radius earning an average household income of $86,119. The average daily traffic count is 57,600 vehicles. The center is slated to open during April of 2010. For more information, contact Bob Touma, New Market Advisors, 2970 West Sahara Avenue, Suite 100, Las Vegas, NV 89102; 702-221-2500, Fax 702-221-2504.
Botton Realty is preleasing 3000 Boardwalk, a 16,000 sq.ft. specialty center located at the intersection of Glenwood Avenue and Maple Avenue in Wildwood, NJ. The center is slated to open during the spring. For more information, contact Sammy Botton, Botton Realty, 450 Seventh Avenue, Manhattan, NY 11023; 917-804-4234, Fax 212-630-0502; Email: [email protected].
page 8 March 6, 2009 The Dealmakers www.dealmakers.net
seeking to acquire land for townhouse/apartment development near new and proposed retail sites.
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Faris Lee Investments is selling a Bank of America situated on a land area of 60,113 sq.ft. on North Tatum Boulevard in Phoenix, AZ. Area retail includes Paradise Valley Mall, Macy’s, Sears, JCPenney and Dillard’s. The tenant is bound to a NNN ground lease featuring two, five-year options and rent escalations every five years. Trade-area demographics include a population of one million earning $90,000 as the average household income. The average daily traffic count is 90,000 vehicles. The asking price is $1.54 million. The company is also selling an outparcel situated on a land area of 68,820 sq.ft. on North Tatum Boulevard in Phoenix, AZ. Tenants include Arby’s and Wendy’s. Area retail includes Macy’s, Sears, JCPenney and Dillard’s. The tenants are bound to NNN ground leases. The Arby’s lease features three, five-year options and is set to expire during December 2019. The Wendy’s lease is set to expire during December 2034. Trade-area demographics include a population of one million earning $90,000 as the average household income. The average daily traffic count is 90,000 vehicles. The asking price is $1.268 million. The company is also selling a 45,976 sq.ft. Best Buy site situated on 4.83 acres on South Wadsworth Boulevard in Littleton, CO. Area retail includes Office Depot, Old Navy, Lowe’s Home Improvement, Big Lots, Southwest Plaza, featuring Dick’s Sporting Goods, JCPenney, Borders, Dillard’s, Sears and Macy’s, and Bowles Crossing Shopping Center, featuring Ross Dress for Less, The Sports Authority and Bed Bath & Beyond. The tenant is bound to a 15-year NNN lease with 12 years left on the lease term and featuring two, five-year options and 10% rent escalations every five years. The company is also selling Shops at Orchard Stone Creek, an 11,716 sq.ft. center situated on 1.43 acres at the intersection of 215 Freeway and Clinton Keith Road in Murrieta, CA. Tenants include Starbucks, Subway, Juice It Up and The UPS Store. Area retail includes Bank of America and SuperTarget. The average daily traffic count is 117,000 vehicles. Tenants are bound to NNN leases. The asking price is $6.42 million. The company is also selling Waiakea Center, a 231,255 sq.ft. center situated on 18.78 acres at the intersection of Kanoelehua Strete and Makaala Street in Hilo, HI. Tenants include Wal*Mart, OfficeMax, Borders, Ross Dress for Less, Territorial Savings Bank, Supercuts, T-Mobile, Verizon Wireless, Chevron and Islands Natural Market. A 10-year, $16.617 million note with an interest rate of 5.73% and a 30-year amortization schedule is assumable. The asking price is $36.2 million. The company is also selling The Vine at Castaic, located in Castaic, CA. Tenants include Starbucks, Kragen Auto, El
Pollo Loco, Popeye’s and Wienerschnitzel. The asking price is $13.43 million with a Cap rate of 6.75%. The company is also selling Bristol Street Retail Shops, a 21,203 sq.ft. center situated on 2.077 acres on Bristol Street in Santa Ana, CA. Tenants include Papa John’s, Crystal Smile Dental, Super Antojitos and Warehouse Shoes. The asking price is $8.9 million with a 7.25% Cap rate. For more information regarding the Santa Ana property, contact Shaun Riley, Faris Lee Investments, 2301 Dupont Drive, Suite 100, Irvine, CA 92612; 949-221-1807; Email: [email protected]; Web site: www.farislee.com. For more information regarding the other properties, contact Donald MacLellan; 949-221-1821; Email: [email protected].
RCG Ventures, LLC sold a 39,300 sq.ft. Tractor Supply Co. site in Carthage, TN. The Goodlick Co. represented the buyer in the transaction and the property was sold for $2.313 million. The company also acquired Shenandoah Plaza, a 146,121 sq.ft. center located on Bullsboro Drive in Newnan, GA. Tenants include Big Lots, Goodwill and Dollar General. The company acquired the center from Centro Properties. For more information regarding the TN property, contact Scott Tarbet, RCG Ventures, LLC 2970 Peachtree Road, Suite 805, Atlanta, GA 30305; 404-816-5454 Ext. 31, Fax 404-816-5445; Email: [email protected]; Web site: www.rcgventures.com. For more information regarding Shenandoah Plaza, contact Jim O’Donnell, Michael McMillen or Parker Blanchard; 404-816-5454 Ext. 11/10/15; Emails: [email protected], [email protected] and [email protected].
NAI Capital negotiated the sale of Harbor Square, a 23,536 sq.ft. center situated on 1.89 acres at the intersection of First Street and South Harbor Boulevard in Santa Ana, CA. Tung Thanh Dinh et. al acquired the property for $7.425 million from Lin Estate, Inc. The company represented both the buyer and seller in the transaction. For more information, contact Tom Nguyen, NAI Capital; 949-854-6600; Email: [email protected].
Realty Associates, on behalf of a client, is looking to acquire off-market shopping centers located throughout FL, with a preference for sites in southern FL. Suitable properties are grocery-anchored, preferably by Publix. For more information, contact Jeff Daly, Realty Associates; 561-302-2987; Email: [email protected].
Breslin Realty is selling a 10,700 sq.ft. space corner site at the intersection of Briggs Avenue and East 198th Avenue in Bronx, NY. Area retail includes Citibank. Area demographics include a population of 1.932 million within five miles earning $39,445 as the average household income. The asking price is $2.75 million. The company is also selling a 13,575 sq.ft. Walgreens situated on 1.2 acres at the intersection of Hempstead Turnpike and Newbridge Road in East Meadow, NY. The tenant is bound to a 40-year lease with an option to terminate after 25 years. Area demographics include a population of 496,316 within five miles earning $97,113 as the average household income. For more information regarding the Bronx property, contact John Colangelo, Breslin Realty, 500 Old Country Road, Garden City, NY 11530; 516-741-7400 Ext. 213, Fax 516- 741-5621; Email: [email protected]; Web site: www.breslinrealty.com. For more information regarding the East Meadow property, contact Robert Delavale; 516-741-7400 Ext. 230; Email: [email protected].
Marcus & Millichap Real Estate Investment Services is selling Avondale Shops, an eight-unit center situated on 1.15 acres on Michigan Avenue Northeast in Washington, DC. Tenants include Dollar Tree and PanAm International Supermarket. The asking price is $6.1 million. For more information, contact Roy Hill, Marty Zupancic or Peter Snell, Marcus & Millichap Real Estate Investment Services; 202-536-3700; Email: [email protected]; Web site: www.marcusmillichap.com.
Wluka Real Estate Corp. is selling a 6.7-acre parcel located on Route 1 in Sharon, MA. Area retail includes Walpole Mall. The asking price is $1.2 million. For more information, contact Nancy Wluka, Wluka Real Estate Corp., 2 Chestnut Square, Sharon, MA 02067; 781-953-1745, Fax 781-784-9900; Email: [email protected]; Web site: www.wlukarealestate.com.
Neuburger/Reid Properties is looking to acquire shopping centers and malls located in larger metropolitan areas nationwide. Suitable properties have potential for value-add, GLAs above 500,000 sq.ft. and asking prices reflecting $5 to $10 psf. For more information, contact Beau Gunn, Neuburger/Reid Properties, 818 East Main Street, PO Box 2687, Spartanburg, SC 29304; 864-585-1722, Fax 864-582-1378; Email: [email protected].
www.dealmakers.net The Dealmakers March 6, 2009 page 9
buyers And sellers
(continued on page twenty-one)
Kowit & Passov Real Estate Group (216-514-5100) negotiated five-year leases with Little Caesar’s for 4,539 sq.ft. on Richmond Road and for 4,500 sq.ft. on Lorain Avenue in Cleveland, OH. The company represented the tenant in both transactions. The company also negotiated a 10-year lease with Branded Realty for an 1,820 sq.ft. Dunkin’ Donuts at Renaissance Park Shopping Center, located at the intersection of Pearl Road and Whitney Road in Strongsville, OH. The company represented both the landlord and the tenant in the transaction. The company also negotiated a five-year lease with Carolina Furniture for 4,240 sq.ft. at Deerfield Town Center, located on Oak Point Road in Amherst, OH. The tenant joins Target, Lowe’s Home Improvement, Great Clips, Subway, Sally Beauty Supply and Mattress Co. The company represented both the landlord and the tenant in the transaction. The company also negotiated a five-year lease with Ginger Pet House for 800 sq.ft. on Brecksville Road in Independence, OH. The company represented both the landlord and the tenant in the transaction. The company also negotiated a seven-year lease with Whole Earth Massage by Q for 4,000 sq.ft. at The Shoppes at River Styx, located at the intersection of Medina Road and River Styx Road in Medina, OH. The tenant joins Buehler’s Grocery Store. The company represented both the landlord and the tenant, Octagon Associates, in the transaction. The company also negotiated leases with Instant Tax Service for 1,800 sq.ft. on Cedar Road and for 800 sq.ft. at Medina Marketplace, located on North Court Street in Cleveland Heights, OH. The company represented both the landlord, Octagon Associates, and the tenant in the transactions. The company also negotiated a 10-year ground lease with Ultimate Developing, LLC for a Sonic Drive-In at Midtown Shopping Center, located on Snow Road in Parma, OH. The company represented the tenant in the transaction. The company also negotiated a five-year lease with Marco’s Pizza for 1,400 sq.ft. on Vail Court in Twinsburg, OH. The tenant joins D.O. Summers, H&R Block and Laus Deo Salon. The company represented the landlord in the transaction. The company also negotiated a five-year lease with Dollar Tree for 9,000 sq.ft. at Stow Community Center in Stow, OH. The company represented the tenant in the transaction.
LaKritz-Weber & Co. (248-353-9494) negotiated a lease with Jimmy John’s for space in a freestanding former bank site on Corunna Road in Flint, MI. The company represented the tenant in the transaction.
Excess Space Retail Services, Inc. (516-365-6400) negotiated a 22,900 sq.ft. Staples sublease with Jama Party, LLC at the intersection of Plank Road and Orchard Avenue in Altoona, PA. The company also negotiated a 25,146 sq.ft. Kroger sublease with Salvation Army on State Street in Davison, MI.
NAI Realvest (407-875-9989) negotiated a lease renewal with Famous Brand Shoes for 5,000 sq.ft. at Kissimmee Shopping Center, located on Old Vineland Road in Kissimmee, FL. The company represented the landlord, Kissimmee Value Outlet Shops, LLC, in the transaction. The company also negotiated a lease renewal with Beauty Depot of Orlando for 3,500 sq.ft. at Washington Shores Plaza, a 50,864 sq.ft. center located on Bruton Road in Orlando, FL.
Sax Realty, Inc. (240-497-1192) negotiated a lease with McDonald’s for space at Rutherford Crossing Shopping Center, located at the intersection of Interstate 81 and Route 11 in Winchester, VA. The tenant joins Target and Lowe’s Home Improvement. The company represented the tenant and Next Realty represented the landlord, NV Retail, in the transaction. The company also negotiated a lease with McDonald’s for space in Potomac Towne Center, a 300,000 sq.ft. center located on Route 9/Joshua M. Freeman Boulevard in Ranson, West VA. The tenant joins Home Depot, Kohl’s and Weis Market. The company represented the tenant in the transaction. The company also negotiated a lease with Big Lots for 25,237 sq.ft. at St. Charles Towne Plaza, a 400,000 sq.ft. power center located in Waldorf, MD. The tenant joins Shoppers Food Warehouse, K&G Clothing Superstore, Value City Furniture and Gallo Superstore. Area retail includes St. Charles Towne Super-Regional Mall. The company represented both the landlord and the tenant, Simon Property Group, in the transaction.
Coreland Cos. (714-573-7780) negotiated a 10-year lease with A&K Management, LLC for a 1,500 sq.ft. Arby’s at Newport Camino Plaza, a 20,000 sq.ft. center located at the intersection of Newport Avenue and El Camino Real in Tustin, CA. The tenant joins Petco. The company represented the landlord in the transaction. The company also negotiated a 10-year lease with dd’s Discounts for 20,160 sq.ft. at Van Buren Plaza, a 95,000 sq.ft. center located in Riverside, CA. The company represented the landlord, Kensington Real Estate Group, and Epsteen & Associates represented the tenant in the transaction.
page 10 March 6, 2009 The Dealmakers www.dealmakers.net
leAse signings
DM
Conceiving andDevelopingQuality RealEstate for 40Years
Mall Properties, Inc.654 Madison AvenueNew York, NY 10065
Jimmy John’s Franchise, LLC (217-356-9900), through a franchisee, is slated to open a Jimmy John’s Gourmet Sandwiches location at City Plaza, located along Fayetteville Street in Raleigh, NC. The store is scheduled to open with the center during October.
Wal*Mart Stores, Inc. (479-273-4000) plans to open a 99,000 sq.ft. Wal*Mart at the intersection of Bruceville Road and Poppy Ridge Road in Elk Grove, CA. The company is also looking to open locations throughout the Chicago, IL metropolitan area, specifically the 20th, 21st and 34th Wards. The company currently operates one location within the Chicago metropolitan area, in the city’s West Side.
EZCORP, Inc. (512-314-3400) is slated to open 35 locations this year. The chain offers payday loan and pawn services.
Walgreens Co. (847-914-2500) will open a Walgreens drugstore at the intersection of Tiger Boulevard and College Avenue in Clemson, SC. The 12,350 sq.ft. drugstore will offer 25,000 items when it opens during the spring or summer. The company currently operates 88 drugstores throughout SC.
Cabela’s (308-254-5505) plans to open an 80,000 sq.ft. store, selling outdoor sporting goods supplies, along Kings Avenue East in Billings, MT during the spring.
In-N-Out Burger (800-786-1000) is slated to open a restaurant at Draper Peaks Shopping Center, located along South Factory Outlet Drive in Draper, UT, during the fall. The company currently operates 229 of the fast-food restaurants, offering hamburgers, French fries, fountain drinks and milkshakes, throughout AZ, CA, NV and UT. The opening will be the company’s second in UT, having opened a location in Washington City during April 2008.
American Apparel, Inc. (213-488-0226) plans to open 14 American Apparel locations this year. The company operates approximately 260 units, selling fashion apparel basics, nationwide and internationally throughout 19 countries.
The Taco Maker, Inc. (801-476-9780) plans to open 25 Taco Maker restaurants this year. The company currently operates approximately 50 units nationwide throughout 15 states along with 100 units in Puerto Rico.
RadioShack Corp. (817-415-3224) is developing Point Mobl, a new concept currently being tested in West Village and Shops at Highland Village shopping centers, located in Dallas, TX and Watters Creek shopping center, located in Allen, TX. The stores, selling portable devices such as compact laptops, mp3 players, smart phones and GPS units, are conversions of existing 1,500 sq.ft. RadioShack stores and are outfitted in a mix of white fixtures and glass. The concept could grow as large as 100 units, with 10 conversions each in 10 separate markets. The company currently operates 6,000 corporate- and franchise-owned RadioShack locations and 700 wireless phone kiosks.
Rue21, Inc. (724-776-9780) is slated to open rue21 locations in Albany, Bend, Portland and Troutdale, OR and Everett, Lakewood and Wenatchee, WA this year. The company projects opening 60 locations throughout the Pacific Northwest during the next five years as part of a plan to operate 1,000 locations in five years’ time. The apparel retailer, catering to teens, operates locations in community strip and outlet centers, as well as regional malls.
page 12 March 6, 2009 The Dealmakers www.dealmakers.net
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Bassett’s Original Turkey operates 18 locations throughout MD, NJ, NY, PA and Washington, DC. The restaurants occupy spaces of 400 sq.ft. to 800 sq.ft. in malls, entertainment and tourist centers, as well as urban/downtown areas. Growth opportunities are sought within 100 miles of Philadelphia, PA during the coming 18 months, with representation by Great American Brokerage. Bistro Express operates one location in Philadelphia, PA. The restaurants prefer to occupy spaces of 600 sq.ft. to 3,500 sq.ft. in downtown areas, regional malls and strip centers. Growth opportunities are sought throughout Fairfield, CT; NY and in metropolitan areas of PA during the coming 18 months, with representation by Great American Brokerage. Burger Bar operates one location in Long Island, NY. The restaurants prefer to occupy spaces of 2,500 sq.ft. to 3,500 sq.ft. in endcaps, freestanding locations and inline spaces. Plans call for two openings throughout the metropolitan area of New York, NY during the coming 18 months, with representation by Great American Brokerage. Checkers operates 850 locations nationwide. The fast food restaurants occupy spaces of 2,000 sq.ft. in endcaps, freestanding locations, urban/downtown areas and storefront spaces. Growth opportunities are sought throughout Brooklyn, Long Island, Nassau, Suffolk, and Westchester and throughout the metropolitan area of New York, NY, during the coming 18 months. Grill Fire operates two locations throughout Nassau and West Suffolk, NY. The restaurants occupy spaces of 4,500 sq.ft. to 5,000 sq.ft. in endcaps, freestanding locations and inline spaces. Growth opportunities are sought throughout Nassau and Suffolk, NY during the coming 18 months, with representation by Great American Brokerage. IHOP operates 1,375 locations nationwide and internationally. The restaurants occupy spaces of 4,500 sq.ft. to 6,000 sq.ft. in freestanding locations, endcaps and inline spaces. Growth opportunities are sought throughout Fairfield County, CT and Bronx, Dutchess and Putnam counties in NY during the coming 18 months, with representation by Great American Brokerage. For more information, contact Paul Fetscher, Great American Brokerage, 100 West Park Avenue, Suite 309, Long Beach, NY 11561; 516-889-7200, Fax 516-889-5113; Email: [email protected]; Web site: www.restaurantexpert.com.
RA Sushi operates 17 locations throughout AZ, CA, FL, IL, MD, NV and TX. The restaurants occupy spaces of 5,000 sq.ft. in endcaps and freestanding locations. Growth opportunities are sought throughout AZ during the coming 18 months, with representation by NAI
Horizon. Teakwoods Tavern & Grill operates four locations throughout AZ. The restaurant/bar prefers to occupy spaces of 5,500 sq.ft. in freestanding locations and endcaps. Growth opportunities are sought throughout AZ during the coming 18 months, with representation by NAI Horizon. Red Mango operates 41 locations throughout CA, HI, IL, IN, NJ, NV, NY, UT and WA. The frozen yogurt shops occupy spaces of 1,200 sq.ft. in endcaps and inline spaces. Growth opportunities are sought throughout AZ during the coming 18 months, with representation by NAI Horizon. The Human Bean operates 51 locations throughout AZ, CA, CO, ID, NC, NV and OR. The drive-thru coffee shops occupy spaces of 1,200 sq.ft. in pad sites and endcaps. Growth opportunities are sought throughout AZ during the coming 18 months, with representation by NAI Horizon. The Oceanaire Seafood Room operates 17 locations nationwide in 15 states. The seafood restaurants occupy spaces 8,000 sq.ft. in freestanding locations, lifestyle and mixed-use centers. Growth opportunities are sought throughout Phoenix, AZ during the coming 18 months, with representation by NAI Horizon. For more information, contact Shelby Tworek, NAI Horizon, 2944 North 44th Street, Suite 200, Phoenix, AZ 85018; Web sites: www.rasushi.com, www.teakwoodstavern.com, w w w . r e d m a n g o u s a . c o m , w w w . t h e h u m a n b e a n . c o m a n d www.theoceanaire.com. For additional information regarding RA Sushi, contact Chris Gerow.
New King, Inc. trades as Burger King at eight locations throughout CT. The fast food restaurants occupy spaces of 2,500 sq.ft. in freestanding locations and power centers. Growth opportunities are sought throughout the existing market during the coming 18 months. Typical leases run 20 years. The company prefers to locate on a land area of 0.75 acres to one acre. For more information, contact Jack Muirhead, New King, Inc., 874 Silas Deane Highway, Wethersfield, CT 06109; 860-257-9000, Fax 860-257-9248; Email: [email protected].
Wing Stop operates 600 locations throughout 32 states nationwide. The restaurants occupy spaces of 1,350 sq.ft. to 1,850 sq.ft. in endcaps and inline spaces. Growth opportunities are sought throughout Philadelphia, PA and the surrounding areas during the coming 18 months, with representation by Fameco Real Estate. For more information, contact Marc Mandel, Fameco Real Estate, 633 West Germantown Pike, Suite 200, Plymouth Meeting, 19462; 610-834-8000, Fax 610-834-1793; Email: [email protected]; Web site: www.famecoretail.com.
www.dealmakers.net The Dealmakers March 6, 2009 page 13
exClusives And leAsing Assignmentsfood retAilers expAnd nAtionwide
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Retail Net Lease Properties, Inc. (310-252-7656) represents the following retailers with their expansion plans throughout CA: 7-Eleven, throughout the Antelope Valley and Los Angeles County west of Interstate 5, seeking spaces of 2,200 sq.ft. to 3,000 sq.ft. in endcaps; Boston’s, throughout southern CA excluding South Central and West Los Angeles, seeking spaces of 6,200 sq.ft. to 7,000 sq.ft. with patio space in freestanding buildings, malls and endcap spaces in power centers; The Counter, utilizing spaces of 2,700 sq.ft. to 3,000 sq.ft. with patio space in endcaps in entertainment and lifestyle centers as well as urban/downtown areas; DelTaco, throughout Los Angeles County, CA, seeking sites of 2,000 sq.ft. to 2,400 sq.ft. with drive-thru situated on a land area of 25,000 sq.ft.; El Pollo Loco, throughout Los Angeles County excluding Lancaster, Palmdale and Santa Clarita, seeking sites of 1,700 sq.ft. to 2,800 sq.ft. in endcap spaces or pad sites with drive-thru, and T.G.I. Friday’s, throughout southern CA, including Los Angeles, Orange, Riverside, San Bernardino and Ventura counties, seeking spaces of 7,000 sq.ft. to 7,500 sq.ft. in freestanding pad sites or endcap spaces.
NAI Capital (818-905-2400) represents the following retailers with their expansion plans throughout CA: SanSai Japanese Grill, throughout southern CA, seeking spaces of 1,900 sq.ft. to 2,500 sq.ft. in entertainment, neighborhood and power centers; Primebar, Bluepoint, Townhouse Restaurant & Wine Bar and The Grill Room, throughout southern CA, seeking spaces of 5,500 sq.ft. to 7,500 sq.ft. with patio space in freestanding buildings or endcap spaces in entertainment, mixed-use and power centers, and Ruby Tuesday, throughout Los Angeles, Orange and Ventura counties, seeking sites of 5,600 sq.ft. in freestanding buildings or pad sites in entertainment centers.
Main & Main, Inc. (310-656-9980) represents the following retailers with their expansion plans: anchorblue, throughout southern CA, seeking spaces of 3,500 sq.ft. in urban/downtown areas and power centers; Chick-fil-A, throughout Los Angeles, Orange and Ventura counties, CA, seeking freestanding sites of 4,200 sq.ft. situated on one acre; Aerosoles, throughout CA, seeking sites of 1,500 sq.ft. in lifestyle centers; Gap, throughout southern CA, seeking sites of 7,000 sq.ft. to 9,000 sq.ft. in lifestyle centers with trade-area demographics including a population earning $70,000 as the average household income; Ann Taylor, throughout southern CA, utilizing spaces of 4,500 sq.ft.; Ann Taylor Loft, throughout southern CA, utilizing spaces of 5,500 sq.ft. and Gibsons, throughout CA, seeking spaces of 7,000 sq.ft. to 10,000 sq.ft. D
M
GVA Advantis (757-213-8217) hired Robert Lauter as executive director in the company’s Norfolk, VA office. Lauter will concentrate on retail sales and landlord/tenant representation. Prior to joining the company, he worked with Coldwell Banker NRT in Orlando, FL. The company is a full-service real estate services firm specializing in brokerage, leasing, sales and management of real estate properties.
Edens & Avant (803-744-2446) promoted Sam Judd to vice president, investments. Judd will be responsible for the company’s 35-property Northeast portfolio and will
maintain oversight over the company’s 40-property Mid-Atlantic portfolio. The company owns a portfolio of 140 lifestyle, neighborhood and power centers located throughout 14 states along the East Coast.
Colliers Spectrum Cauble (404-888-9000) hired C. Matthew Tritschler and W. Hayes Swann as senior vice presidents in the company’s investment sales group, Huston Greene as an associate, and Martha Althafer as investment sales coordinator. Prior to joining the company, Tritschler and Swann held similar positions at DTZ Rockwood and, prior to that, at GVA Advantis.
page 14 March 6, 2009 The Dealmakers www.dealmakers.net
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new ConstruCtion
(continued from page eight)Bialow Real Estate is preleasing a 6,250 sq.ft. center located along U.S. Route 1/Broadway in Saugus, MA. A 2,750 sq.ft. space is available. Cotenants include The Vitamin Shoppe. Area retail includes Trader Joe’s, Bed Bath & Beyond, Target, Barnes & Noble, PetSmart, Kohl’s, Modell’s, Staples and Hannaford’s. Area demographics include a population of 301,425 within a five-mile radius earning a median household income of $58,662. The average daily traffic count is 83,000 vehicles. The center is scheduled to break ground during the spring of 2010 and open during the summer of 2010. For more information, contact Corey Bialow, Bialow Real Estate, 60 Wells Avenue, Newton, MA 02459; 617-928-9423, Fax 617-964-5318; Email: [email protected]; Web site: www.bialow.com.
Commercial Real Estate Services is preleasing Edinburgh Commons West, a 450,000 sq.ft. power center situated on 73 acres at the intersection of Edinburgh Parkway and Hillcrest Parkway in Chesapeake, VA. Spaces from 1,600 sq.ft. to 22,000 sq.ft. are available along with outlots of 1.22 acres, 1.41 acres and 1.72 acres. Wal*Mart anchors the center. Area retail includes Target and Home Depot. Area demographics include a population of 193,769 within a 10-mile radius earning a median household income of $70,529. The average daily traffic count is 34,000 vehicles. The asking rent is $24 psf with CAM of $1.90 psf and taxes of $2 psf. Groundbreaking is scheduled for this year and the center is slated to open during the spring of 2010. For more information, contact Matt Lafler, Commercial Real Estate Services, 1081 19th Street, Suite 202, Virginia Beach, VA 23451; 757-491-1990, Fax 757-497-7700; Email: [email protected]; Web site: www.cres-va.com.
Zelnik Realty, Ltd. is preleasing Renaissance Park, a 120,000 sq.ft. strip center situated on 15 acres at the intersection of Pearl Road and Whitney Road in Strongsville, OK. Spaces from 1,400 sq.ft. to 70,000 sq.ft. are available along with a 59,346 sq.ft. outlot. Cotenants include Dunkin’ Donuts and Key Bank. Area retail includes Wal*Mart Supercenter, Lowe’s Home Improvement, Home Depot and Gordon Foods. Area demographics include a population of 157,546 within a five-mile radius earning a median household income of $71,100. The average daily traffic count is 32,050 vehicles. The center is scheduled to break ground during April and is slated to open during the fall. For more information, contact Matt Yunker, Zelnik Realty, Ltd., 1355 Kenilworth Avenue, Lakewood, OH 44107; 440-344-6038; Email: [email protected]. D
M
Tesco Plc (310-384-3833) has delayed the opening of a Fresh & Easy Neighborhood Market location in Loma Linda, CA. The store was slated to open during January but the company has pushed the opening back citing economic concerns. The company had planned to accelerate expansion plans during the latter half of fiscal 2009 but has chosen to continue its slower pace; opening two to three stores per week. The 10,000 sq.ft. markets carry 3,500 products. The company currently operates 110 stores throughout AZ, southern CA and NV.
El Dorado Furniture Co. (305-624-9700) is scheduled to open a 92,000 sq.ft. El Dorado Furniture store as an anchor of a 153,000 sq.ft. shopping center situated on 17 acres at the intersection of Sawgrass Expressway and Lyons Road in Coconut Creek, FL. The store will be the company’s 11th in southern FL and features an indoor village design incorporating vintage storefronts, boulevards, park benches and old-fashioned street lamps with furniture selections arranged in lifestyle vignettes. The building includes green design elements including reflective roofing, specialized air conditioning and native landscaping that requires little watering.
hhgregg, Inc. (317-848-8710) will open two hhgregg locations in FL, including a store in Sarasota and a 30,000 sq.ft. location in Market Square shopping center, located at the intersection of Interstate 75 and Bruce B. Downs Boulevard in New Tampa, FL. The stores feature home appliances and goods, including refrigerators, washer-dryer sets, vacuum cleaners, food processors and mattress sets along with electronics including TVs, cameras, mp3 players and laptop computers. The company currently operates 108 locations nationwide, including 13 units in central and northern FL.
Kohl’s Corp. (262-703-7000) plans to open 19 Kohl’s locations this year. The department stores offer clothing for men, women and children in addition to home goods.
Family Dollar, Inc. (704-847-6961) plans to open 200 Family Dollar locations this year. The company currently operates 6,600 units nationwide throughout 44 states.
Dollar General Corp. (615-855-4000) plans to open 450 Dollar General locations nationwide this year. The company recently opened a location in a former Prizant’s Carpet site along State Street in Vanport Township, PA. The company currently operates 8,400 discount stores nationwide, including 394 in PA.
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who’s opening And where
www.dealmakers.net The Dealmakers March 6, 2009 page 15
Median Household Income over $94,532Average Household Income over $109,161
Bowie is one of the largest cities in Maryland. Bowie is also an excellent location, easily accessed from Washington D.C., Annapolis and Baltimore. Bowie’s proximity to these major cities brings business and workforce into the area via Routes 3, 50 and 301. Bowie has more than 90 restaurants, 200 shops, and a dozen recreation opportunities. With this winning combination of location, access and amenities your business is certain to grow and succeed.
For space available details call:Bowie Plaza, Brian Greene, 703-442-4300Hilltop Plaza, Bruce I. Levine, 410-486-0800 x216Main Street Market, Sam Pan, 301-657-7352
Pointer Ridge Plaza, Will Collins, 571-382-1290
For more information on ALL of Bowie’s Opportunities, contact:
John Henry King, Economic Development Director, City of Bowie, Maryland
MARSH SUPERMARKET, BIG KMART*, DAIRY QUEEN, RADIO SHACK, SUPERCUTS
*Not Owned
1,600 - 11,375 S.F. AVAILABLE CONTACT (877) 797-1472
JEFFREY JAMES/SAM COOPER
GREAT LEASING OPPORTUNITIES WITH FREE RENT AVAILABLE
365 SOUTH STREET MORRISTOWN, NJ 07960 TEL. (973) 285-0660 FAX (973) 285-9236 www.lamarcompanies.com
leAd sheet
Jack Furrier’s Western Tire Centersdba Jack Furrier’s Western Tire Centers, Desert Rat Truck Centers and Ultra PerformanceJack Furrier3545 South Richey BoulevardTucson, AZ 85713-5432520-748-1700, Fax 520-790-1136
AutomotiveThe 20-unit chain operates locations throughout Phoenix and Tucson, AZ. The automotive centers occupy spaces of 6,000 sq.ft. to 10,000 sq.ft. in freestanding locations and specialty and strip centers. Growth opportunities are sought throughout the existing market and Albuquerque, NM during the coming 18 months. Preferred demographics include a population of 20,000 within four miles earning $45,000 as the average household income. Major competitors include Discount Tire and 4 Wheel Parts.
Plaza Tire Service, Inc. dba Plaza Tire ServiceScott Rhodes2075 Corporate CircleCape Girardeau, MO 63703573-334-5036, Fax 573-334-0322Web site: www.plazatireservice.com
AutomotiveThe 50-unit chain operates locations throughout AR, IL, KY and MO. The automotive service centers occupy spaces of 4,000 sq.ft. to 8,000 sq.ft. in freestanding locations. Growth opportunities are sought throughout the existing markets during the coming 18 months. A vanilla shell and specific improvements are required.
Precision Auto Care, Inc.dba Precision Tune Auto CareLee Oppenheim748 Miller Drive SoutheastLeesburg, VA 20175800-438-8863, Fax 703-669-1539Web site: www.precisiontune.com
AutomotiveThe 388-unit chain operates locations nationwide and internationally. The automotive service centers occupy spaces of 4,000 sq.ft. in freestanding locations. Growth opportunities are sought throughout the existing markets during the coming 18 months. Typical leases run five to 10 years.
Midas International / Speedee Worldwide Corp.dba Speedee Oil Change & Tune UpMark Dearing4 Sanctuary Boulevard, Suite 102Mandeville, LA 70471985-624-2261 Ext. 223, Fax 985-624-3829Email: [email protected] site: www.speedeecorp.com
AutomotiveThe 175-unit chain operates locations nationwide and internationally. The automotive centers, offering oil changes, tune-ups, brake services and preventative maintenance, occupy spaces of 2,950 sq.ft. in freestanding locations, malls and mixed-use centers. Growth opportunities are sought throughout CA, LA and NC during the coming 18 months. Typical leases run 15 years. Specific improvements are required. Preferred demographics include a population of 25,000 within three miles earning $55,000 as the average household income. Major competitors include Jiffy Lube. The company is franchising.
Anna’s LinensAlvin Rodenbostelc/o Edgemark Commercial Real Estate Services, LLC2215 York Road, Suite 503Oakbrook, IL 60523630-472-1010, Fax 630-472-1019Email: [email protected] site: www.annaslinens.com
Bed/Bath/LinensThe 246-unit chain operates locations throughout 21 states nationwide. The stores, offering bedding, bath and kitchen items, as well as window treatments and home décor items, occupy spaces of 7,000 sq.ft. to 10,000 sq.ft. in power and strip centers. Growth opportunities are sought throughout Chicago, IL during the coming 18 months, with representation by Edgemark Commercial Real Estate Services, LLC.
Association of Logos Bookstoresdba Logos Bookstores Becky Gorczyca1675 East Main Street, Suite 204Kent, OH 44240330-677-8086, Fax 330-677-8049Web site: www.logosbookstore.com
BooksThe 20-unit chain operates locations nationwide and throughout the Bahamas and Canada. The Christian book stores occupy spaces of 2,000 sq.ft. to 3,000 sq.ft. in freestanding locations and strip centers. Growth opportunities are sought throughout the existing markets during the coming 18 months. Typical leases run three years. A vanilla shell and specific improvements are required. Preferred demographics include a population of 60,000 within five miles earning $40,000 as the average household income.
www.dealmakers.net The Dealmakers March 6, 2009 page 17
Follett Higher Education GroupElio DiStaolo1818 Swift DriveOak Brook, IL 60523630-279-2330, Fax 630-279-2569Web site: www.fheg.follett.com
BooksThe 831-unit chain operates locations nationwide and throughout Canada. The bookstores occupy spaces of 2,000 sq.ft. to 75,000 sq.ft. on college campuses. Growth opportunities are sought throughout the existing markets during the coming 18 months. The company will only consider sites on college campuses.
Hallmark Gold Crown StoresSharon Carmichaelc/o Terranomics Retail Services1350 Bayshore Highway, Suite 900Burlingame, CA 94010408-200-8811Email: [email protected] site: www.terranomics.com
CardsThe 5,000-unit chain operates locations nationwide and internationally. The stores, offering greeting cards and gifts, occupy spaces of 3,500 sq.ft. to 4,000 sq.ft. in malls and power and strip centers. Plans call for one to two openings throughout the San Francisco Bay area in CA during the coming 18 months, with representation by Terranomics Retail Services. Preferred cotenants include Target.
T-MobileMitch Weissc/o Retail Zone25 – 50 Francis Lewis BoulevardFlushing, NY 11358718-321-7700, Fax 718-228-6499Email: [email protected] site: www.t-mobile.com
ElectronicsThe 2,000-unit chain operates locations nationwide. The electronics stores occupy spaces of 600 sq.ft. to 3,000 sq.ft. in endcaps, pad sites, freestanding locations and lifestyle, power, strip and specialty centers, in addition to urban/downtown areas. Growth opportunities are sought throughout Brooklyn, Bronx, Manhattan, Nassau, Queens, Staten Island and Suffolk, NY during the coming 18 months, with representation by Retail Zone. Typical leases run 10 years.
Games WorkshopJason Gordon or Lee Ann Rosenblumc/o Epsteen & Associates1429 4th StreetSanta Monica, CA 90401310-451-8171 Ext. 222, Fax 310-395-6361Emails: [email protected], [email protected]
EntertainmentThe 340-unit chain operates locations nationwide and internationally. The stores, featuring tabletop fantasy and futuristic battle games, occupy spaces of 900 sq.ft. to 1,500 sq.ft. in community and neighborhood centers. Growth opportunities are sought throughout southern CA during the coming 18 months, with representation by Epsteen & Associates.
Club H FitnessHal Shapiroc/o Winick Realty Group655 Third Avenue, 8th FloorNew York, NY 10017212-792-2623, Fax 212-490-9574Email: [email protected] site: www.winick.com
Fitness The four-unit chain operates locations throughout NJ and NY. The fitness clubs occupy spaces of 20,000 sq.ft. to 50,000 sq.ft. in freestanding locations, endcaps, inline spaces, pad sites, strip centers and urban/downtown areas. Growth opportunities are sought throughout Manhattan and Westchester, NY during the coming 18 months, with representation by Winick Realty Group. The company prefers to locate in high traffic areas. Major competitors include Equinox Fitness.
Leisure FitnessShary Thurc/o Thur & Associates8260 Greensboro Drive, Suite 270McLean, VA 22102703-847-0865, Fax 703-847-1435Email: [email protected] site: www.leisurefitness.com
FitnessThe 17-unit chain operates locations throughout DE, MD, NJ, PA, VA and Washington, DC. The stores, selling home and commercial fitness equipment, occupy spaces of 5,000 sq.ft. to 6,000 sq.ft. in lifestyle centers. Growth opportunities are sought throughout MD, VA and Washington, DC during the coming 18 months, with representation by Thur & Associates. The company prefers to locate in upscale centers.
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Color, Inc.dba Best OfAl Shameklis490 Boston Post RoadSudbury, MA 01776978-443-1970 Ext. 987, Fax 978-443-1712Email: [email protected] site: www.thecolorstores.com
GiftsThe 10-unit chain operates locations nationwide. The stores, featuring gifts and gourmet food products from specific regions and cities, occupy spaces of 500 sq.ft. to 1,500 sq.ft. in malls, entertainment and tourist centers and urban/downtown areas. Growth opportunities are sought throughout the existing markets during the coming 18 months. Typical leases run five years with one, five-year option. A vanilla shell and specific improvements are required. Major competitors include Hudson News.
Regis Corp.dba Super CutsDavid Foley7201 Metro BoulevardMinneapolis, MN 55439952-947-7000, Fax 952-947-7900Email: [email protected] site: www.supercuts.com
HairThe 2,132-unit chain operates locations nationwide and throughout Canada and Puerto Rico. The men’s hair salons occupy spaces of 1,000 sq.ft. in power and strip centers. Growth opportunities are sought nationwide during the coming 18 months.
Green Managementdba Greenberg JewelersHoward KreisbergPO Box 1561Sioux City, IA 51102712-255-5013, Ext. 203, Fax 712-255-1405Web site: www.greenbergsjewelers.com
JewelryThe eight-unit chain operates locations throughout IA, NE and SD. The jewelry shops occupy spaces of 1,200 sq.ft. to 4,000 sq.ft. in freestanding locations, malls and lifestyle, mixed-use and strip centers. Growth opportunities are sought throughout the existing markets during the coming 18 months. The company prefers to locate in areas with strong visibility and high foot and traffic counts.
Jared JewelersLes Saxc/o Sax Realty, Inc.4912-A Del Ray AvenueBethesda, MD 20814240-497-1192, Fax 240-497-1070Email: [email protected] site: www.saxrealty.com
JewelryThe 158-unit chain operates locations nationwide. The jewelry stores occupy spaces of 5,600 sq.ft. to 6,000 sq.ft. in freestanding locations and power and specialty centers. Growth opportunities are sought throughout MD and VA during the coming 18 months, with representation by Sax Realty, Inc.
LaundromatThe 3,000-unit chain operates locations throughout AZ, CA, NM, NV and TX. The laundromats occupy spaces of 1,800 sq.ft. to 9,000 sq.ft. in freestanding locations and inline spaces. Growth opportunities are sought throughout AZ, CA and NV during the coming 18 months. Typical leases run 10 years with three, five-year options. Preferred demographics include a population of 30,000 within one mile earning $25,000 to $50,000 as the average household income. The company prefers to locate in high traffic locations with a dense renter population.
StaplesCraig Wielanskyc/o L3 Corp.12655 Olive Boulevard, Suite 220St. Louis, MO 63141314-469-7400Web site: www.l3corp.net
Office SuppliesThe 1,800-unit chain operates locations nationwide and internationally. The office supply stores occupy spaces of 18,000 sq.ft. in power centers. Growth opportunities are sought throughout MO during the coming 18 months, with representation by L3 Corp.
www.dealmakers.net The Dealmakers March 6, 2009 page 19
Olan Mills, Inc.dba Olan MillsJeff Selfon or Pat JonesPO Box 23456Chattanooga, TN 37422423-622-5141 Ext. 8232, Fax 423-629-8611Web site: www.olanmills.com
PhotoThe 600-unit chain operates locations nationwide. The photography centers occupy spaces of 450 sq.ft. in malls. Growth opportunities are sought nationwide during the coming 18 months. The company prefers to locate in malls with high foot traffic.
AIM Mail CentersJared Davisc/o Present Value Properties, Inc.1590 North Batavia Street, Suite 2Orange, CA 92867714-464-3000, Fax 714-464-3015Email: [email protected] site: www.pvpinc.com
ShippingThe 90-unit chain operates locations nationwide. The packaging and shipping centers occupy spaces of 800 sq.ft. to 1,500 sq.ft. in lifestyle, specialty and strip centers. Growth opportunities are sought throughout southern CA during the coming 18 months, with representation by Present Value Properties, Inc. Typical leases run five years with two, five-year options.
The preceding leads have been verified by calls made to or written submittals from the respective retailers during the weeks prior to publication. Since the majority of chains featured in Lead Sheet are small in size, some changes in their expansion plans should be expected. To be included in an upcoming issue, just fax a note or call us with the details. Our fax number is (609-587-3511) and you can reach us by phone at (609-587-6200) or email at [email protected].
Shoe AvenueBill Buffingtonc/o Trans-Continental Development Group, LLC501 East Kennedy BoulevardTampa, FL 33602813-363-1009, Fax 813-272-9725
ShoesThe three-unit chain operates locations throughout FL. The stores, offering discount footwear and accessories, occupy spaces of 12,000 sq.ft. to 17,000 sq.ft. in freestanding locations and power and strip centers. Growth opportunities are sought throughout the western coast of FL during the coming 18 months, with representation by Trans-Continental Development Group, LLC. Typical leases run three to five years. Tenant improvements are required. Preferred cotenants include T.J. Maxx, Marshalls, Publix and Ross Dress for Less. Preferred demographics include a population of 47,000 within 3.5 miles earning $40,000 as the average household income. Major competitors include Shoe Carnival, Shoe Show and Shoe Salon.
Heartland BreweryPaul Fetscherc/o Great American Brokerage100 West Park Avenue, Suite 309Long Beach, NY 11561516-889-7200, 516-889-5113Email: [email protected] site: www.restaurantexpert.com
SpecialtyThe five-unit chain operates locations throughout NJ and NY. The restaurant/bar prefers to occupy spaces of 2,500 sq.ft. to 6,000 sq.ft. in freestanding locations, malls, entertainment centers and urban/downtown areas. Growth opportunities are sought throughout the greater New York, NY metropolitan area during the coming 18 months, with representation by Great American Brokerage.
Massage LuxeJennifer Watson or Allen Joffec/o Baum Realty Group1030 West Chicago AvenueChicago, IL 60642312-275-3128/3120Emails: [email protected] or [email protected] site: www.massageluxe.com
SpecialtyThe one-unit chain operates in MO. The center, offering massages and related products, occupies spaces of 2,800 sq.ft. to 3,500 sq.ft. in endcaps of outlots. Growth opportunities are sought throughout Darien, Downers Grove, Glen Ellyn, Lombard, Lisle, Lemont, Naperville, Oak Brook, Plainfield, Schaumburg and Wheaton, IL during the coming 18 months, with representation by Baum Realty Group.
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Sperry Van Ness|The Kase Group - Danville is selling a portfolio of 29 Rite Aid sites located in Jewett City, CT; Carrollton and Douglasville, GA; Adams, Mansfield, Marlborough, Marshfield, Methuen, Reading, Revere, Springfield and Westford, MA; Albemarle, Burlington, Clemmons, Havelock, Henderson, Laurinburg, Rocky Mount, Salisbury and Wilson, NC; Boothwyn, PA; Cumberland, North Providence, Warwick, Westerly and Woonsocket, RI; Columbia, SC and Bennington, VT. The properties feature tenants bound to 20-year NNN leases. The asking price is $93.782 million. The properties are also available individually with asking prices ranging from $1.595 million to $6.37 million, NOIs range from $127,600 to $493,680 and CAP rates range from 7.75% to 8%. For more information, contact Kase Abusharkh or Jacob Abusharkh, Sperry Van Ness|The Kase Group – Danville, 252 Abigail Circle, Danville, CA 94506; 925-348-1844 or 925-763-8405; Emails: [email protected] and [email protected]; Web site: www.thekasegroup.com.
CB Richard Ellis|Colorado Private Client Group negotiated the $2.275 million sale of Village Shops at Colony Square, located at the intersection of Dillon Road and McCaslin Boulevard in Louisville, CO. For more information, contact Brad T. Lyons, Geoff M. Baukol or Chris R. Bodnar, CB Richard Ellis|Colorado Private Client Group, 1225 Seventeenth Street, Suite 2950, Denver, CO 80202; 303-628-1720/1750/1711; Emails: [email protected], [email protected] and [email protected]; Web site: www.cbre.com/pcgcolorado.
The Shopping Center Group negotiated the $19.881 million sale of an 80% ownership interest in the first phase of Plaza Mall of Georgia, a 96,960 sq.ft. center located at the intersection of State Route 20 and Gravel Springs Road in Buford, GA. Tenants include LA Fitness, Shogun Steak & Sushi and Bonefish Grill. Plaza Mall North 08B Junior, LLC acquired the interest. For more information, contact Neal Pringle or Mark Cooley, The Shopping Center Group; 770-955-2434; Emails: [email protected] and [email protected].
BVI Real Estate, on behalf of a client, is looking to acquire CVS and Walgreens sites located throughout AZ and FL. Suitable properties have asking prices below $5 million. For more information, contact BVI Real Estate, 47 West Polk Street, Chicago, IL 60605; Email: [email protected].
Block & Co., Inc. negotiated the sale of a 60-acre parcel located on Interstate 20 between Highway 360 and Great Southwest Parkway in Grand Prairie, TX. Prime Outlets acquired the parcel and plans to construct a 500,000 sq.ft. outlet center on the property. For more information, contact Natalie E. Christie, Block & Co., Inc., 605 West 47th Street, Suite 200, Kansas City, MO 64112; 816-412-7381.
Garritano Realty Group, LLC is selling an 85,000 sq.ft. center located in Long Island, NY. The asking price represents a Cap rate of 7%. For more information, contact Art Garritano, Garritano Realty Group, LLC, 982 Montauk Highway, Suite 2, Bayport, NY 11705; 631-776-7600, Fax 631-776-7601; Email: [email protected].
www.dealmakers.net The Dealmakers March 6, 2009 page 21
buyers And sellers
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DM
Buena Park – A center located at the intersection of Orangethorpe Avenue and Beach Boulevard, has a 1,386 sq.ft. space available. Fuddrucker’s anchors the center and cotenants include Subway, Labor Link and Kona Coffee & Juice. Area demographics include a population of 638,848 within five miles earning $71,079 as the average household income. The average daily traffic count is 80,000 vehicles. Also, a center located on Valley View Street has a 12,546 sq.ft. space available. Albertsons anchors the center and cotenants include CVS and Big Lots. Area demographics include a population of 603,389 within five miles earning $79,179 as the average household income. Fountain Valley – Magnolia Plaza, located at the intersection of Magnolia Avenue and Warner Avenue, has an 833 sq.ft. space available. Cotenants include Starbucks, Verizon Wireless and GameStop. Area demographics include a population of 626,765 within five miles earning $83,256 as the average household income. The average daily traffic count is 75,490 vehicles. Gardena – A center located on West Rosecrans Avenue has a 3,514 sq.ft. former Rent-A-Center site available for
sublease. Cotenants include Payless Foods, Subway, Curves, H&R Block and MetroPCS. Area demographics include a population of 752,589 within five miles earning $66,089 as the average household income. Huntington Beach – Warner Springdale Plaza, located at the intersection of Warner Avenue and Springdale Street, has spaces available of 1,558 sq.ft. and 2,747 sq.ft. 24 Hour Fitness shadow-anchors the center and cotenants include HB Hardbody, Essentials Beauty Supply, Family Nails, Niya Sushi, Nutrifit, State Farm Insurance, Surf City Tanning Inc., Cali Hair Design, Good To Go, Surf City Road House, Fritzankotters, Ace Cleaners, Salon Cache, Sea Breeze Dental, Edward Jones, T-Mobile and Wienerschnitzel. Area demographics include a population of 374,916 within five miles earning $85,294 as the average household income. The asking monthly rent is $2.25 psf NNN. Also, a center located at the intersection of Bolsa Chica Street and Heil, has a 1,200 sq.ft. space available. Albertsons anchors the center and cotenants include Bank of America. Area demographics include a population of 330,226 within five miles earning $106,433 as the average
household income. The average daily traffic count is 45,000 vehicles. Also, Town & Country Center, a mixed-use center located on Beach Boulevard, has spaces available of 1,360 sq.ft. and 1,664 sq.ft. along with a 216 sq.ft. kiosk space. Cotenants include Hertz, Majestic and Lido Consignment Gallery. Area demographics include a population of 437,981 within five miles earning $84,431 as the average household income. The average daily traffic count is 77,000 vehicles. La Habra – La Habra Center, located on South Harbor Boulevard, has a divisible space of 6,955 sq.ft. Cotenants include AutoZone, Juan Pollo, WIC Store, La Reina Market and Taco Bell. Area demographics include a population of 385,611 within five miles earning $89,042 as the average household income. The average daily traffic count is 74,392 vehicles. Long Beach – A center located at the intersection of Long Beach Boulevard and 7th Street has a divisible space of 2,000 sq.ft. available. Cotenants include Shanghai Wok and Carl’s Jr. Area retail includes Nordstrom Rack, McDonald’s, Ross Dress for Less, Arby’s, Anna’s Linens, Wal*Mart and Walgreens.
page 22 March 6, 2009 The Dealmakers www.dealmakers.net
spACe plACeFOR LEASEFOR LEASE
FOR LEASE
FOR LEASE
California California California
(continued on page twenty-four)
Retail Space FoR leaSeThe Longmeadow ShopS
• 2,000 – 13,000 square feet• $18.00 – 24.00 NNN lease, 60 month term• Very high per square foot sales for several local and national tenants• Retailers benefit from a successful mix of both upscale fashion and quality
convenience tenants• Join Chico’s, Ann Taylor, Talbots, Gap, Jos. A. Bank, CVS, Bank of America
and Starbucks• Rarely available location in desirable Longmeadow center• Great visibility and access along with abundant parking
Steve Walker, Regional Property Manager95 Glastonbury Blvd, Suite 214
Excellent Proximity—Just Minutes to I-77 & Clemson Rd.
Close to I-20 & I-26.
High Disposable Income Area
FlexibleTerms
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May17–20,2009
DMK_recon_2009.indd 10 1/21/2009 2:25:21 PM
Area demographics include a population of 435,728 within five miles earning $77,481 as the average household income. South Gate – A center located at the intersection of Garfield Avenue and Main Street has a 3,000 sq.ft. inline space available along with an 11,000 sq.ft. endcap. Area retail includes 7-Eleven. Area demographics include a population of 942,737 within five miles earning $52,541 as the average household income. Westminster – Goldenwest McFadden Plaza, located at the intersection of Goldenwest Street and McFadden Avenue, has spaces available of 3,000 sq.ft. and 6,350 sq.ft. Fresh & Easy
Neighborhood Market anchors the center and cotenants include Harbor Freight Tools and Hockey Outlet. Area demographics include a population of 496,834 within five miles earning $85,095 as the average household income. For details regarding the Buena Park, Fountain Valley and La Habra properties, contact Bob Pfaff, Marketing Brokers, 16101 Goldenwest Street, Huntington Beach, CA 92647; 714-375-5777. For details regarding the Gardena and Southgate properties, contact Bob Pfaff or Tipton Wright. For details regarding the Huntington Beach and Westminster properties, contact Tipton Wright or Jeff Specht. For details regarding the Long Beach property, contact Jeff Specht.
Cathedral City – Cathedral City Marketplace, located on Date Palm Drive, has two spaces available of 1,190 sq.ft. along with a divisible space of 5,259 sq.ft. and a 4,000 sq.ft. pad site. Food 4 Less anchors the center and cotenants include Cinemark, 24 Hour Fitness, CitiFinancial, Rent-A-Center, Starbucks, H&R Block, AT&T Mobility, Susie’s Deals, Blossom’s Clothing, Cutters Salon, Simply Blue & Pink, Tech Nails, Prizma Jewelers, Toda Moda Fashion, Boy’s Hamburger Family Style Restaurant, Mango’s Juice Bar, Jarritos Ice Cream Shop, Louisiana’s Fried Chicken, Taqueria El Guero, Tai Pei Express and The Point After. Area retail includes IHOP, Jack in the Box and Pizza Hut. Area demographics include a population of 40,790 within two miles earning $63,414 as the average household income. Coachella – Coachella Plaza, located at the intersection of Avenue 50 and Harrison Street, has spaces available from 1,200 sq.ft. to 35,000 sq.ft. 99 Cents Only Store anchors the center and cotenants include Season 2, Three Princesses, Angie’s Beauty Salon and Gisselle’s Boutique. Area retail includes Cardenas, Little Caesar’s, Carl’s Jr., Payless ShoeSource, Jiffy Lube and Fred Loya Insurance. Area demographics include a population of 15,982 within three miles earning $45,178 as the average household income. Downey – A Fresh & Easy Neighborhood Market located on Downey Avenue has a 16,356 sq.ft. space available for sublease. Area demographics include a population of 267,944 within three miles earning $65,542 as the average household income. Huntington Park – A center located at the intersection of East Florence Avenue and Malabar Street has a 1,053 sq.ft. space available. Launderland Coin Op Laundry anchors the center. Area retail includes 99 Cents Only Store, Shakey’s Pizza, Food 4 Less and Carl’s Jr. Area demographics
include a population of 475,811 within three miles earning $45,503 as the average household income. Paramount – A Fresh & Easy Neighborhood Market in Paramount Plaza, located at the intersection of Alondra Boulevard and Downey Avenue, has a 9,180 sq.ft. space available for sublease. Cotenants include Kragen Auto Parts, Rite Aid, RadioShack, Re/Max and Jack in the Box. Area demographics include a population of 153,712 within two miles earning $54,322 as the average household income. For details regarding the Cathedral City property, contact Karen Robles, Peter Ruiz or Stephen Legaspi, The Legaspi Co., 1611 Paramount Boulevard, Montebello, CA 90640; 323-728-8455, Fax 323-888-8928; Web site: www.thelegaspi.com. For details regarding the Coachella property, contact Daniel Legaspi. For details regarding the Downey and Paramount properties, contact Stephen Legaspi. For details regarding the Huntington Park property, contact Karen Robles or Peter Ruiz.
Monrovia – Huntington Plaza, located on West Huntington Drive, has spaces available from 1,000 sq.ft. to 3,000 sq.ft. Henry’s Farmers Market anchors the center and cotenants include McDonald’s and Walgreens. Area retail includes Trader Joe’s, Marshalls, Bed Bath & Beyond, Toys “R” Us, Mimi’s Café, Acapulco Mexican Restaurant y Cantina, Applebee’s, Chili’s, and Huntington Oaks Shopping Center. Area demographics include a population of 119,301 within three miles earning $85,039 as the average household income. The asking monthly rent is $3.90 psf NNN. Norwalk – Firestone at Paddison Center, a 7,943 sq.ft. center located on Firestone Boulevard, has spaces available from 817 sq.ft. to 2,408 sq.ft. Area demographics include a population of 221,755 within three miles earning $70,706 as the average household income. The average daily traffic count is 55,921 vehicles. The asking monthly rent ranges from $3 to $3.50 psf NNN. For details, contact Armando Aguirre, Metroscape Real Estate, Inc., 606 East 8th Street, Suite 301, Los Angeles, CA 90014; 213-327-0666, Fax 213-327-0608; Email: [email protected]. For additional details regarding the Monrovia property, contact Steve McDonald, Colliers International, 444 South Flower Street, Suite 2200, Los Angeles, CA 90071; 213-532-3229, Fax 213-327-3230; Email: [email protected]; Web site: www.colliers.com.
page 24 March 6, 2009 The Dealmakers www.dealmakers.net
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Enfield – Stop & Shop Plaza, a 111,265 sq.ft. center located on Hazard Avenue, has spaces available of 2,000 sq.ft.; 3,200 sq.ft.; 4,300 sq.ft. and 6,968 sq.ft. Super Stop & Shop anchors the center and cotenants include 99 Restaurant, Advance Auto Parts, H&R Block, Hallmark Gold Crown, Lenscrafters and The UPS Store. Area retail includes Freshwater Commons, featuring Big Y, Hollywood Video, Fashion Bug and Rite Aid, and Brookside Plaza, featuring Shaw’s, Walgreens, Staples and Blockbuster Video. Area demographics include a population of 344,414 within 10 miles earning $66,939 as the average household income. For details, contact Samuels & Associates, 333 Newbury Street, Boston, MA 02115; 617-247-3434; Email: [email protected]; Web site: www.samuelsre.com.
Newington – Pier One Center, an 80,000 sq.ft. strip center located on Berlin Turnpike, has a 7,500 sq.ft. space available. Pier 1 Imports, Ann & Hope and Lenscrafters anchor the center. Cotenants include Bond Dinettes, Better Bedding and Honey Baked Ham. Area retail includes Target, Home Depot, Stew Leonard’s and Dick’s Sporting Goods. The average daily traffic count is 40,000 vehicles. For details, contact Michael Antkies, Michael Antkies Real Estate; Ridgefield, CT 06877; 203-438-9525; Email: [email protected]; Web site: www.antkies.com.
Illinois
North Riverside – North Riverside Park Mall, a 1.1-million sq.ft. regional mall, has spaces available from 237 sq.ft. to 8,818 sq.ft. JCPenney, Sears and Carson Pirie Scott anchor the center. Cotenants include Gap, Starbucks, Old Navy, Forever 21, Victoria’s Secret, Express, Charlotte Russe, New York & Co. and House of Hoops by Foot Locker. Area demographics include a population of 700,000 within five miles earning $63,000 as the average household income. For details, contact Harvey Ahitow or Glen Wilson, The Feil Organization, Seven Penn Plaza, New York, NY 10001; 504-835-8000; Emails: [email protected] and [email protected]; Web site: www.feilorg.com.
Oak Park – A 12,650 sq.ft. center located on Lake Street has spaces available from 2,268 sq.ft. to 3,000 sq.ft. For details, contact McCollom Realty, Ltd.; 708-383-6450; Web site: www.mccollomrealty.com.
Rockland – Harbor Plaza, a 187,000 sq.ft. center located at the intersection of U.S. Route 1 and Glen Street, has spaces available of 1,050 sq.ft.; 1,750 sq.ft. and 3,500 sq.ft. along with a divisible space of 8,015 sq.ft. Shaw’s and T.J. Maxx anchor the center. Cotenants include Goodwill, China Coast, Curves, RadioShack, The UPS Store, H&R Block and Olympia Sports. Area retail includes Home Depot and Wal*Mart. Area demographics include a population of 32,036 within 10 miles earning $56,580 as the average household income. For details, contact Phil Kling, ATS Realty, 1601 Trapelo Road, Suite 250, Waltham, MA 02451; 781-672-0200 Ext. 617, Fax 781-672-0277; Email: [email protected]; Web site: www.atsrealty.com.
Massachusetts
Boston – A 20,234 sq.ft. center located on Brookline Avenue has space available. Cotenants include Il Giardino’s Café. Area demographics include a population of 144,258 within 1.5 miles earning $80,074 as the average household income. Also, Fenway Triangle Trilogy, a one-million sq.ft. mixed-use center located at the intersection of Brookline Avenue and Boylston Street, has space available. West Elm anchors the center and cotenants include Burton’s Grill, Cambridge 1, Chipotle, Citibank, Emack & Bolio’s, FedEx Office, Phillipostyle Hair Studio, Robek’s and Starbucks. Area demographics include a population of 150,084 within 1.5 miles earning $82,288 as the average household income. Easton – Highlands Plaza, a 297,395 sq.ft. center located on Robert Drive, has space available. Hannaford, T.J. Maxx and Target anchor the center. Cotenants include GameStop, Hallmark Gold Crown, RadioShack, Sleepy’s, Tanfastic, Cost Cutters, Star Nails, Quiznos and Bank of Easton. Area retail includes Walgreens, CVS, Shaw’s and Brooks Pharmacy. Area demographics include a population of 378,833 within 10 miles earning $81,623 as the average household income. Weymouth – Riverway Plaza, a 265,000 sq.ft. center located on Route 3A, has spaces available of 3,200 sq.ft.; 9,360 sq.ft. and 34,000 sq.ft. Lowe’s Home Improvement anchors the center and cotenants include Staples, Papa Gino’s, D’Angelo, Margarita’s, CVS and McDonald’s. Trade-area demographics include a population of 345,893 earning $81,224 as the average household income. The average daily traffic count is 35,000 vehicles.
For details, contact Samuels & Associates, 333 Newbury Street, Boston, MA 02115; 617-247-3434; Email: [email protected]; Web site: www.samuelsre.com.
Brockton – A center located on Route 123/Belmont Street has spaces available of 845 sq.ft. and 1,838 sq.ft. along with a pad site. Bertucci’s anchors the center and cotenants include Supercuts, Wells Fargo, Sprint, Stonebridge Café, Tanorama, H&R Block, EmbroidMe, Elizabeth Grady and Starbucks. Area demographics include a population of 138,374 within five miles earning $62,308 as the average household income. Fitchburg – Wallace Plaza, a 169,443 sq.ft. center located on John Fitch Highway, has spaces available of 2,500 sq.ft.; 2,900 sq.ft.; 5,800 sq.ft. and 6,500 sq.ft. Market Basket, Big Lots and U-Haul Self Storage anchor the center. Cotenants include NY Bling Bling, Oriental Nails, Papa Gino’s and Rent-A-Center. Area retail includes John Fitch Plaza, featuring Save a Lot, A.J. Wright and CinemaWorld. The average daily traffic count is 22,000 vehicles. Revere – A center located on Squire Road has a 2,000 sq.ft. former Pizza Hut site located on Squire Road available. Cotenants include Foodmaster, Rite Aid, Dunkin’ Donuts and Bally’s Fitness. Area retail includes Showcase Cinemas, Walgreens, Stop & Shop, 7-Eleven, Bank of America, CVS, Burlington Coat Factory, Pearle Vision and Taco Bell. Area demographics include a population of 452,507 within five miles earning $63,932 as the average household income. Sudbury – A center located at the intersection of Route 20/Boston Post Road and Concord Road has a divisible 1,700 sq.ft. space available. Cotenants include Citibank, MacKinnon’s Liquors and Salem Five. Area retail includes Blockbuster Video, Sudbury Farms and Sudbury Crossing, featuring T.J. Maxx, Pearle Vision, RadioShack and Domino’s. Area demographics include a population of 84,540 within five miles earning $116,675 as the average household income. The average daily traffic count is 41,400 vehicles. Williamstown – A center located on Main Street has a divisible 4,200 sq.ft. space available. Cotenants include Subway. Area retail includes Dunkin’ Donuts, Rite Aid and Aubuchon Hardware. Area demographics include a population of 70,744 within 15 miles earning $55,911 as the average household income. For details regarding the Brockton property, contact Matt Giokas, ATS Realty, 1601 Trapelo Road, Suite 250, Waltham,
(continued on page twenty-six)
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www.dealmakers.net The Dealmakers March 6, 2009 page 25
MA 02451; 781-672-0200 Ext. 604, Fax 781-672-0277; Email: [email protected]; Web site: www.atsrealty.com. For details regarding the Fitchburg, Revere and Sudbury properties, contact Jim Speros; 781-672-0200 Ext. 608; Email: [email protected]. For details regarding the Williamstown property, contact Mark Thibeault; 802-879-1410; Email: [email protected].
Longmeadow – The Longmeadow Shops, located on Bliss Road, has spaces available from 2,000 sq.ft. to 13,000 sq.ft. Cotenants include Chico’s, Ann Taylor, Talbots, Gap, Jos. A. Bank, CVS, Bank of America and Starbucks. Asking rent ranges from $18 psf to $24 psf NNN. For details, contact Steve Walker, Grove Property Fund, LLC, 95 Glastonbury Boulevard, Suite 214, Glastonbury, CT 06033; 413-567-0098; Email: [email protected].
Nebraska
Fremont – A 35,000 sq.ft. center located on East Military Highway has an 1,800 sq.ft. space available. Dollar General and Mr. Movies anchor the center. Trade-area
demographics include a population of 28,316 earning $42,841 as the average household income. The average daily traffic count is 9,500 vehicles. For details, contact Richard Paden or Cheryl Paden, Landmark Property Rentals; 402-727-6508, Fax 402-721-0840; Web site: www.landmarkpropertyrentals.net.
New Jersey
Eatontown – A 23,400 sq.ft. strip center located on Route 35 has spaces available of 3,150 sq.ft.; 4,600 sq.ft. and 5,400 sq.ft. FedEx Office anchors the center and cotenants include Quiznos and Planet Beach Tanning. Area retail includes Monmouth Mall. Area demographics include a population of 165,481 within five miles earning $94,466 as the average household income. For details, contact Sam Kates, Commercial Realty Group, PO Box 331, Cherry Hill, NJ 08003; 856-795-5000; Email: [email protected].
Maple Shade – A 12,000 sq.ft. freestanding restaurant pad site located on Route 38 is available. Area retail includes Macy’s Furniture Gallery, Cherry Hill Mall, Moorestown Mall and East Gate Square.
Area demographics include a population of 256,489 within five miles earning $80,583 as the average household income. For details, contact Jason Bock, Michael Salove Co., 1700 Market Street, 17th Floor, Philadelphia, PA 19103; 215-568-2600 Ext. 21, Fax 215-568-2666; Email: [email protected]; Web site: www.salove.com.
New York
Albion – A 10,278 sq.ft. freestanding site is available. Brighton – An 11,348 sq.ft. freestanding site is available. Buffalo – Freestanding sites of 9,159 sq.ft. and 10,141 sq.ft. are available. Cheektowaga – A strip center has an 11,817 sq.ft. space available. Cotenants include Bank of America, The UPS Store and Beneficial Financial Advisors. Geneva – A shopping center has a 13,980 sq.ft. space available. Cotenants include Peebles, Staples, Payless ShoeSource and Blockbuster Video. Greece – A 13,813 sq.ft. freestanding site is available. Lockport – A shopping center has a 9,159 sq.ft. space available. Cotenants include Tops. Rochester – A 10,908 sq.ft. freestanding site is available. Also, a shopping center has an 8,177 sq.ft. space available. Cotenants
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Charlotte, North Carolina704.332.0900
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Amenities Abound in this Designer’s HomeThe Interior Boasts:A Gourmet KitchenButler’s Pantry to Dining RoomBuilt-in Library with Stone FPAll Hardwoods, Tile & Stone Flooring — Makes for easy maintenance1400 SF First-floor Master Suite includes: Custom Granite Shower, Jacuzzi tub & Built-in closetsOfficeBilliards Room2-story Living Room3 add’l Bedrooms6 Full & 2 1/2 Baths
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Power Centers preferably built in the 90’s, with more big-boxes and fewer small shops
Ground Leasesall uses considered
Freestanding Buildingswith below market rent or older leases
Sale/Leasebacksfor both developers and retailers
$330,000,000
available to fund
Acquisitions
include Advance Auto and Blockbuster Video. Syracuse – An 11,348 sq.ft. freestanding site is available. For details, contact Penny Cipolla, Innovative Realty Services, Inc., 6495 Transit Road, Bowmansville, NY 14026; 716-684-9000 Ext. 226, Fax 716-684-9098; Emails: [email protected] or [email protected]; Web site: www.innovativerealty.com.
Bronx – Peartree Square, a 150,000 sq.ft. center, has second-floor space available. Super Stop & Shop anchors the center and cotenants include, Rite Aid and Chase Bank. For details, contact Lisa Rosenshein, Rosenshein Associates, 555 South Barry Avenue, Mamaroneck, NY 10543; 914-698-3600, Fax 914-698-3939; Email: [email protected].
Clifton Park – North Country Commons Shopping Center, a 119,450 sq.ft. center located at the intersection of Route 146 and Route 146A, has a divisible space of
65,000 sq.ft. available. Cotenants include Dunkin’ Donuts, Dollar General, Pioneer Savings Bank and Northern Lights. Area retail includes Gold’s Gym, Price Chopper, Rite Aid, Trustco, Pizza Hut and First Niagara. Area demographics include a population of 65,088 within five miles earning $85,717 as the average household income. The average daily traffic count is 23,108 vehicles. The asking rent is $8 psf NNN. For details, contact Brett S. Baxt, The Howard Group, 1735 Central Avenue, 2nd Floor, Albany, NY 12205; 518-452-1881 Ext. 13, Fax 518-452-1940; Email: [email protected]; Web site: www.howardgroup.com.
North Carolina
Belmont – Montcross, located between Interstate 85 and U.S. Highway 74, has space available along with outparcels. Wal*Mart Supercenter and Lowe’s Home Improvement anchor the center. Area retail includes Chick-fil-A, Pizza Hut, Bank of America, Wachovia Bank and Waffle House. Area demographics
include a population of 259,907 within 10 miles earning $57,835 as the average household income. For details, contact Thurman Brooks or Britt Byrne, Faison, 121 West Trade Street, 27th Floor, Charlotte, NC 28202; 704-972-2625/2639, Fax 704-972-2698; Emails: [email protected] and [email protected]; Web site: www.faison.com.
Cary – Crossroads Plaza, a 670,000 sq.ft. center located at the intersection of U.S. Route 1/64 and Walnut Street, has spaces available from 1,200 sq.ft. to 19,520 sq.ft. Cotenants include Old Navy, OfficeMax, Best Buy, Toys “R” Us, DSW, Bed Bath & Beyond, Ulta, Dick’s Sporting Goods, REI, Marshalls, Michaels, Stein Mart and A.C. Moore. For details, contact Ronus Properties, Piazza at Paces, 3290 Northside Parkway, Suite 250, Atlanta, GA 30327; 678-553-4000, Fax 678-553-4001; Web site: www.ronusproperties.com. Or David Allen, The Shopping Center Group; 919-380-8041; Email: [email protected].
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Allentown – Home Depot Plaza, a 220,000 sq.ft. center located at the intersection of Lehigh Street and Route 78, has a 9.82-acre outlot available. For details, contact Thomas G. Mirandi, RD Management, LLC; 212-265-6600 Ext. 239, Fax 212-265-8250; Email: [email protected].
Chambersburg – A 102,439 sq.ft. center located on Lincoln Way East has an 83,000 sq.ft. space available. Cotenants include Rice Bowl, Just Cabinets and Arby’s. Area retail includes Wal*Mart Supercenter and Lowe’s Home Improvement. Area demographics include a population of 83,677 within 10 miles earning $61,043 as the average household income. Dillsburg – A 42.96-acre parcel located at the intersection of Interstate 15 and Golf Course Road is available for ground lease. Area demographics include a population of 39,101 within 10 miles earning $61,043 as the average household income. For details, contact Gibraltar Management Co., Inc., 150 White Plains Road, Tarrytown, NY 10591; 914-631-6200; Web site: www.gibraltarmgt.com.
Irwin – Norwin Hills, a 244,364 sq.ft. center, has spaces available from 800 sq.ft. to 31,000 sq.ft. Cotenants include Aldi, Goodwill Industries, GNC, Galaxy Fitness and Fashion Bug. Pittsburgh – Kennywood Shops, a 198,210 sq.ft. center, has spaces available from 1,200 sq.ft. to 31,400 sq.ft. along with a 4,000 sq.ft. outparcel. Giant Eagle anchors the center and cotenants include Famous Labels, Dollar General, Fashion Bug and Hollywood Video. For details, contact Jeffrey James or Sam Cooper, Lamar Cos., 365 South Street, Morristown, NJ 07960; 877-797-1472 or 973-285-0660, Fax 973-285-9236; Web site: www.lamarcompanies.com.
South Carolina
Anderson – Anderson Pavilion, a 64,221 sq.ft. center, has spaces available from 1,400 sq.ft. to 3,150 sq.ft. Publix anchors the center and cotenants include Postnet. Area retail includes Chick-fil-A, Pizza Hut and Hardee’s. Charleston – West Ashley Shoppes, a 136,260 sq.ft. center, has spaces available from 1,050 sq.ft. to 4,900 sq.ft. along with a 1.49-acre outparcel. Cotenants include Ross Dress for Less, Cost Plus World Market, Bed Bath & Beyond and Catherines. Rock Hill – Market on Cherry Road, a 129,518 sq.ft. center, has spaces
available from 1,500 sq.ft. to 4,500 sq.ft., along with a 0.8-acre outparcel. Cotenants include Office Depot, Big Lots, Anna’s Linens, Lebo’s, It’s Fashion Metro and Payless ShoeSource. For details, contact Jeffrey James or Michael Mahan, Jr., Lamar Cos., 365 South Street, Morristown, NJ 07960; 877-797-1472 or 973-285-0660, Fax 973-285-9236; Web site: www.lamarcompanies.com.
Boiling Springs – Boiling Springs Center has spaces available of 1,600 sq.ft. and 2,000 sq.ft. Columbia – Northpointe Commons has spaces available from 2,000 sq.ft. to 35,000 sq.ft. Florence – Southside Commons has a 3,200 sq.ft. space available. Gaffney – Piedmont Plaza has spaces available of 2,000 sq.ft. and 3,200 sq.ft. Georgetown – Plantation Plaza has spaces available of 1,200 sq.ft. and 2,000 sq.ft. Greenville – Haywood Plaza has spaces available from 998 sq.ft. to 5,400 sq.ft. Also, Shoppes at Woodruff has spaces available of 1,500 sq.ft. and 2,000 sq.ft. Also, White Horse Commons has a 4,000 sq.ft. space available. Greenwood – Westwood Plaza has spaces available from 4,500 sq.ft. and 27,500 sq.ft. Greer – Hillview Plaza has a 2,000 sq.ft. space available. Lexington – Village Square has spaces available of 800 sq.ft. and 1,493 sq.ft. Myrtle Beach – Northwood Plaza has spaces available from 1,103 sq.ft. to 5,028 sq.ft. Also, Plantation Point has spaces available from 2,458 sq.ft. to 4,122 sq.ft. Surfside Beach – Surfside Commons has a 4,000 sq.ft. space available. For details, contact Debbie Lewis, Rivercrest Realty Investors, 8816 Six Forks Road, Suite 201, Raleigh, NC 27615; 919-518-2000; Email: [email protected]; Web site: www.rivercrestrealty.com.
Tennessee
Chattanooga – Hamilton Village, a 416,700 sq.ft. center located on Gunbarrel Road, has spaces available from 1,000 sq.ft. to 15,000 sq.ft. along with an anchor space of 25,000 sq.ft. Wal*Mart Supercenter and Dick’s Sporting Goods anchor the center. Cotenants include Factory Card Outlet, Babies “R” Us, Stein Mart and Books-A-Million. Area retail includes Hamilton Place Mall. Johnson City – Johnson City Crossing, a 378,500 sq.ft. center located at the intersection of Interstate 26 and State of Franklin Road, has spaces available from 2,000 sq.ft. to 3,200 sq.ft. along with an anchor space of 27,500 sq.ft. Cotenants include Home Depot,
Michaels, Old Navy, Bed Bath & Beyond, Ross Dress for Less, Stein Mart, PetSmart and Rugged Wearhouse. For details, contact Ronus Properties, Piazza at Paces, 3290 Northside Parkway, Suite 250, Atlanta, GA 30327; 678-553-4000, Fax 678-553-4001; Web site: www.ronusproperties.com. Or Scott McGee, The Shopping Center Group; 205-776-6716; Email: [email protected].
Greeneville – A 99,450 sq.ft. center located on East Andrew Johnson Highway has a 4,000 sq.ft. space available along with a pad site. Big Lots anchors the center and cotenants include Staples, Advance America Cash Advance, Carmike Cinemas and Bank of America. Area demographics include a population of 52,262 within 10 miles earning $48,943 as the average household income. Morristown – A 49,318 sq.ft. center located on East Andrew Johnson Highway has spaces available of 2,400 sq.ft. and 12,178 sq.ft. Big Lots anchors the center and cotenants include Morristown Dry Goods, Cash Now and Regions Bank. For details, contact Gibraltar Management Co., Inc., 150 White Plains Road, Tarrytown, NY 10591; 914-631-6200; Web site: www.gibraltarmgt.com.
Virginia
Williamsburg – New Town Shops on Main, a 253,000 sq.ft. lifestyle center located at the intersection of Monticello Avenue and Ironbound Road, has spaces available from 1,171 sq.ft. to 10,778 sq.ft. New Town Cinemas by Regal and Barnes & Noble anchor the center. Cotenants include Conte’s, Cheeburger Cheeburger, Ichiban, Mole Hole, Z Pizza, Coco, Pac Sun, Chico’s, Ann Taylor Loft, White House|Black Market, Bath & Body Works, Kay Jewelers, Old Navy, Lane Bryant, Cacique, J. Jill, Christopher & Banks, Claire’s, Justice, Shutters & Décor, Victoria’s Secret, Foot Locker, Ntelos, Bonefish Grill, Paisley, Norwalk, Lee Nails, Sports Clips and Panera Bread. Area retail includes Settlers Market. Area draws include Colonial Williamsburg, College of William & Mary and Busch Gardens. Area demographics include a population of 79,847 within 10 miles earning $84,033 as the average household income. For details, contact Kelly Voss, Developers Realty Corp., 433 South Main Street, Suite 310, West Hartford, CT 06110; 860-561-0121, Fax 860-521-4323; Email: [email protected]; Web site: www.developers-realty.com.
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Corporate Headquarters: 580 White Plains Road, Tarrytown, NY 10591 1.866.DLC.MGMT
97 shopping centers 25 states 16.5 million square feet
V I S I T U S A T T H E I C S C C A R O L I N A S I D E A E X C H A N G E - B O O T H 7 0 2
