Page 1

Reporting The Nation’s Weekly News on Retailing & Retail Real Estate Volume XXIX No. XIX

May 23, 2014

FEATURING APPAREL CHAINS EXPAND NATIONWIDE 10 Spot / Madrag operates 60 locations throughout AR, CT, FL, MA, MD, NJ, NY, PA, RI and TN. The stores, offering apparel for women, juniors and plus-sizes at popular price points, occupy spaces of 4,000 sq.ft. to 6,000 sq.ft. in malls, power and strip centers, as well as urban/downtown areas. Plans call for eight to 12 openings throughout the existing markets during the coming 18 months. Typical leases run 10 years with options. A vanilla shell and specific improvements are required. Preferred cotenants include supermarkets. Preferred demographics include a population of 100,000 within three miles earning $35,000 to $50,000 as the average household income. The company is spinning off a new concept, Vanilla Sky, with five locations in NJ and NY. The fashion forward boutiques, offering junior apparel and accessories, occupy spaces of 1,500 sq.ft. to 2,000 sq.ft. in neighborhood centers, street fronts and downtown areas. Plans call for three to four openings throughout NJ and New York, NY during the coming 18 months. Preferred demographics include a trade area population of 100,000 earning at least $100,000 as the average household income. For more information, contact Nathan Hoffman, 10 Spot / Madrag, 30 Seaview Drive, Secaucus, NJ 07094; 201-319-1400 Ext. 118, Fax 201-319-0111; Email: nhoffman@madragstores.com; Web sites: www.madragstores.com and www.vanillaskystores.com.

My Suit operates four locations in White Plains and New York, NY. The stores, offering men’s tailored suites, occupy spaces of 3,000 sq.ft. to 4,000 sq.ft. in downtown areas. Growth opportunities are sought in the Financial District, Rockefeller Center and the Columbus Circle areas of New York, NY during the coming 18 months, with representation by Winick Realty Group. For more information, contact Young Byunn, Winick Realty Group, 655 3rd Avenue, 8th Floor, New York, NY 10017; 212-792-2645.

Observations and Conversations Pg. 8 Features 2014 State of the Industry Report Pg. 12 Latinos – Creating shopping centers to meet their needs......... Pg. 16 New Construction Carolina Holdings preleases Kroger anchored center in GA.... Pg. 18 Who’s Opening and Where LUSH North America plans to open 34 stores............................ Pg. 20

Dress Barn, Inc. trades as dressbarn at 840 locations throughout the continental U.S. The stores, offering career and casual apparel and accessories for women ages 35 to 55 years, occupy spaces of 7,500 sq.ft. in malls, lifestyle, outlet, power, strip, tourist, community and regional shopping centers, as well as downtown areas. Plans call for more than 80 openings throughout the existing market during the coming 18 months. Preferred cotenants include grocery stores, apparel and soft goods retailers and discount department stores. Preferred demographics include a trade-area population earning a median household income of $60,000. Lane Bryant operates 750 locations nationwide. The stores, offering plus-size casual and career apparel and accessories for women ages 35 to 55 years, occupy spaces of 5,000 sq.ft. in strip centers. Plans call for 100 openings nationwide

Buyers and Sellers The Shopping Center Group markets the sale of a Publix anchored center.......................... Pg. 24

(continued on page fifty)

Lease Signings Levin Management inks deal with Dave & Buster’s in NY........ Pg. 44

THIS ISSUE CONTAINS INFORMATION ON: • Retailers operating 50,000 locations with plans to open 4,000 sites • Real estate valued in excess of $1 billion to be bought, sold & financed • Leasing activity on over 7.5 million sq.ft. of retail properties WS Postmaster: Periodical T NE E N A T R DIT IMPO SE EXPE A PLE

ICSC RECON 2014

Food Chains Expand Chill Box plans to heat up southern FL and take Manhattan, NY.......... Pg. 26 Home-Related Chains Expand Tuesday Morning eyes NV for growth opportunities.................. Pg. 36 Supermarket Chains Expand Grocery Outlet Bargain Market plans to open 35 supermarkets... Pg. 38 Sources of Financing Envoy NNN open for lending on single-tenant and net leased retail sites................................... Pg. 42 Making the News Stacey Glenn of The Zall Co. was awarded the ICSC John T. Riordan professional education scholarship. Pg. 44

Tenant Reps Sabre Real Estate Group reps Maggiano’s in NY....................... Pg. 52 Lead Sheet Gordman’s Stores to enter MI, OH and TX................................. Pg. 57 Studio Movie Grill focuses on the top regional markets............. Pg. 58 Salons by JC looking to expand nationwide................................. Pg. 60 Space Place................................ Pg. 68 ICSC Recon Floor Plan............... Pg. 96 Most Valuable Players................ Pg. 104


UP TO 74,000 SF OF RETAIL /12,000 SF OF LED SIGNAGE 41ST STREET ENCOMPASSING BROADWAY & SEVENTH AVENUE

THE ULTIMATE LED SIGNAGE & RETAIL OPPORTUNITY CONTACT OUR EXCLUSIVE AGENTS

JEFF WINICK, CEO 212 792 2601 jeff@winick.com

Melinda Miller 212 792 2662 mmiller@winick.com

Kelly Gedinsky 212 792 2637 kelly@winick.com

ALTHOUGH ALL INFORMATION REGARDING PROPERTY FOR SALE, RENTAL OR FINANCING IS FROM SOURCES DEEMED RELIABLE SUCH INFORMATION HAS NOT BEEN VERIFIED, AND NO EXPRESS REPRESENTATION IS MADE NOR IS ANY TO BE IMPLIED AS TO THE ACCURACY THEREOF, AND IT IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, LEASE OR FINANCING, OR WITHDRAWAL WITHOUT NOTICE.


FEATURES

May 23, 2014 • ICSC RECon 2014 Capture the Latino market: One in every six Americans is Latino The Dealmakers’ feature “Latinos: Creating Shopping Centers to Meet Their Needs” provides in-depth research on market potential, the history of creating a Latino-centric tenant mix in the United States, an overview of the leasing experts and key tenants serving the Latino market, new trends and a checklist of what it takes to position a shopping center for a Latino shopper. The article addresses cultural differences, not only the differences in shopping patterns, but also the differences in lease negotiations. Learn from experts how to reposition shopping centers in Latino trade areas. • Page 16 President/Publisher Ann O’Neal • ann@dealmakers.net Editor Erin Dunkley • erin@dealmakers.net Editor Stephanie Weaver • stephanie@dealmakers.net Art Director Anthony Pingicer • anthony@dealmakers.net Account Executive Nicole Papa • nicole@dealmakers.net Executive Assistant Kait Kelly • kait@dealmakers.net Research Assistant Brenda Robinson • brendar@dealmakers.net

State of the Industry 2014 Report The Dealmakers annual report surveys thousands of retail real estate executives nationwide to uncover the latest trends of the shopping center industry. This year’s finding showed compelling statistics that the health and wellbeing or our industry has drastically improved. The report also names the top ten markets targeted by retailers for future growth. It looks at IPO activity for the retail sector, contraction of store counts, and what types of chains are most active. The report also addresses concerns for the migration of retail storefronts to an online presence and which uses are the least susceptible to losing the battle with online sales. • Page 12 Ann O’Neal, the publisher of The Dealmakers, provides candid commentary of what’s happening in the shopping center industry.

Observations & Conversations Page 8

Pages 96–98

Research Assistant Krista Kopf • krista@dealmakers.net Co-Founder Ted Kraus • 1979–2007

The DealmakersTM (ISSN 1055-0771) is published weekly except for the weeks of January 1st, July 4th, the ICSC's Spring and Fall Conventions and December 25th for $344 per year U.S., foreign $419 by TKO Real Estate Advisory Group Inc., PO Box 2630, Mercerville, NJ 08690-0630. The Dealmakers TM reports on over 20,000 retailers, developers and management companies every year. It is written by real estate professionals for real estate professionals. The newsletter keeps readers abreast of the latest leasing, development and management changes occurring in the real estate industry on a weekly basis. NOTE: Current federal law requires written consent from a company prior to utilizing the published fax number. Share The DealmakersTM with your organization or service for free. Just let us know when your next meeting is and we'll send you copies of our issue for free for your members to learn how to be a better dealmaker! POSTMASTER: Send address changes to The Dealmakers, PO Box 2630 Mercerville, NJ 08690-0630. Periodical postage paid at Trenton, NJ and at additional mailing offices. Affiliated with Tenant Search, E.S.P., E-Blast Copyright 2014 by TKO Real Estate Advisory Group Inc. 609-587-6200, fax 609-587-3511.

Page 4 | May 23, 2014

Dealmakers Magazine | www.dealmakers.net


OWN. DEVELOP. ACQUIRE. As a pure retail REIT, we are moving forward by expanding in major growth markets and recycling our portfolio.

Make your next move with us at RECON Las Vegas Convention Center South Hall: Booth S250 Q Street May 18th - 20th RECENT ACQUISITION Mueller Regional Retail Center Austin, TX

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VISIT US AT RECON — C182 G STREET

WELCO REPRESENTS…


VISIT US AT RECON — C182 G STREET REPRESENTING PROPERTIES THROUGHOUT CT, NJ, NY AND PA The Mall at Bay Plaza | Bronx, NY Anchored by Macy’s & JC Penney

OPENING August 2014 NEW YORK Bronx Bay Plaza Shopping Center East Tremont – 3860 E Tremont Avenue Jerome Avenue – Gunhill Road & Jerome Ave. The Mall at Bay Plaza – Opening August 2014 Brooklyn Georgetown Shopping Center Long Island East Northport – Ellwood Shopping Center Lake Grove – DSW Plaza Plainview – ShopRite Shopping Centre Queens Bayside – 4219 Bell Blvd Whitestone/College Point – Whitepoint Shopping Center Rockland County Nanuet Staten Island Hylan Commons – Hylan Blvd & New Dorp Lane Forest Promenade – Forest Ave & Richmond Ave. Westchester New Rochelle – 507 Main Street NEW JERSEY Bayonne – 554 Broadway Bloomfield – 192 Bloomfield Avenue Carlstadt – 328 Rt. 17 South Cedar Knolls – Ridgedale Ave & E Hanover Ave Clark – 52 Westfield Avenue Denville – Denville Commons East Brunswick – Summer Hill Square

Edgewater – City Place at The Promenade Edison – Edison Town Center Englewood – Towne Centre of Englewood Englewood – Palisades Court Shopping Center Garfield – 46 Outwater Lane Howell – Howell Plaza Kearny – Bergen Avenue & Passaic Ave. Kinnelon – Meadtown Shopping Center Midland Park – Midland Park Shopping Center Newark – Raymond Blvd & Broad St. Newark – Bank Street & Halsey St. North Bergen – Tonnelle Plaza North Brunswick – Commerce Center Nutley – 364 Centre Street Paramus – 160 Rt. 17 N Paramus – Paramus Towne Square – Rt. 17 Passaic – 220 Passaic Street Ramsey – Interstate Shopping Center Ridgewood – 28-32 East Ridgewood Ave. River Edge – Route 4 River Edge - Kinderkamack Road Secaucus – Harmon Meadow Springfield – 200 Rt. 22 Union City – Kennedy Center Watchung – Watchung Commons Wayne – 1428 Route 23 North Wayne – 1578 Route 23 North Westfield – 151 East Broad St. West Orange – Essex Green Shopping Center CONNECTICUT Fairfield – Stop & Shop Plaza PENNSYLVANIA Lebanon – Lebanon Plaza Philadelphia – Market Square

914-576-7500 | jwelkis@welcorealty.com For additional information, please visit our website at www.welcorealty.com


OBSERVATIONS AND CONVERSATIONS “Times are good, but Nirvana, it’s not.”

Ann O’Neal Welcome to The Dealmakers special edition for ICSC RECon! It’s going to be a great show; the buzz is loud. Everybody is ready to make lots of deals, make new friends and have fun. My schedule is crazy from 7:00 am on Sunday through Wednesday afternoon, but I’m not complaining. I hear most people are jammed with appointments, and that’s a really good place to be. The cocktail party scene is going to be hopping too. Companies have money again, and pressure from the hard times that we endured as an industry is dissipating. Retailers are opening stores, developers breaking ground, landlords seeing rent increases, sales and investments are hot, and brokers are busy. Can’t ask for much more? But, I’ve been asking myself, is the bounce too high and too soon? When I hear of speculative shopping center development, shopping centers being bought at insane prices and cheap money flying around; the hair on the back of my neck stands up. I’m here for the long haul, and I don’t need a two-year carpet ride in exchange for a five-year draught. I’ve seen it before, several times. More money than you can dream of flows through our industry and when times are bleak, it’s a disaster of epic proportions, as we all well know from the last recession. If we can mitigate stupid money going out of the gate, the better we will all be in the long run. Times are good, but Nirvana, it’s not. This year’s State of the Industry Report on the next few pages of this issue gives really good insight into where we are today and what stumbling blocks may lie ahead of us. There is a stunning bit of research in the report; in 2010 less than 50 percent of 2,000 retailers surveyed by The Dealmakers planned to open stores, and this year 92 percent of the 2,000 retailers polled plan to open at least one location. More retailers are expected to go for an IPO this year, and more chains are spending capital to buy dirt and build their own building. That’s quite a turnaround. The axis has shifted. We also have a feature on tenanting shopping centers for a Latino customer base. I’ve worked in ethnic markets from Jamaica Queens, New York to McAllen, Texas. Leasing retail space in any ethnic market is fascinating, but I’m only an expert on the Latino market. I brought Burlington Coat into Puerto Rico. After spending two weeks traveling the Island with their buyers, they really understood the market potential and nuances of not only retailing to a Latino shopper, but to a Puerto Rican shopper. Latino shoppers in Miami, Florida or Harlingen, Texas are very different from Puerto Ricans. I love my amigos in Puerto Rico. I worked the market for years, and I can’t remember ever eating a meal alone. If I was there on a weekend, somebody always had a boat in Fajardo or a yacht in the San Juan bay with me on it. They treated me like family, and we all made money together. I took the time to learn the subtleties of the culture; I know how and where moms shop, what they do in their spare time and their expectations from a retailer. I also spent an extraordinary amount of time building trust, and that was the key to my success. When I first showed up on the Island to look at sites, landlords thought I was an idiot because “Who’s gonna buy coats in Puerto Rico?” And then, they would say, “You want me to spend how much to build out your store?” None of them said it, but I know they thought it, “What is this gringa doing here wasting my time?” I got deals done; one of them was a two-level anchor store in an urban mall next to a train Page 8 | May 23, 2014

station with new construction from the ground up. It was no small feat to get everyone on board to such a costly commitment, but we trusted each other, and we communicated easily. The feature in this issue has good insight from Stan Sanchez, President of De Rito Partners and his team in Arizona. They too are experts on leasing shopping centers in ethnic markets. If you have a center with 15 percent or more Latinos or Hispanics in its trade-area population, this article will give you some great ideas. If you have a shopping center that you think might make sense to reposition for a Latino shopper or need site selection assistance in Latino trade-areas, call me, email me, or meet me at RECon. I have connections to buyers and tenants and great research; maybe, I can be of help. My email is ann@dealmakers.net, and I’ll be at booth #S283Q in the South Hall. I have more exciting news… FreestandingTenants.com and FoodTenants.com have launched. These are two of my latest endeavors to deliver you great leads. The online directory for FreestandingTenants. com has the contact and site criteria info for about 2,000 chains looking for freestanding sites. FoodTenants.com lists about 1,000 of the fastest growing restaurant chains. Check them out or drop by my booth at #S283Q for a demo. If you have freestanding or restaurant space to fill, these web sites will deliver tenants. I came up with the idea for FreestandingTenants.com after I analyzed what type of real estate is most preferred by retailers for future stores. Almost a third of the expanding chains want freestanding locations. Most tenants are now turned off by the town center or lifestyle center themes, and less than ten percent would consider mall locations for future stores. Power centers aren’t all that and a bag of chips any more either. After the shake out of the hype of specialty projects, strip centers and freestanding buildings are still the backbone of our industry. I don’t think that will ever change. I also researched what uses are the most expansion minded. Restaurants and food concepts consistently outpaced any other use year-after-year. To help make your job easier, FoodTenants. com taps you into chains looking for sites suited for food uses. Not only does this issue have great research, we also have details on retailers looking to open around 4,000 stores by 2016. If you want to make deals, just read this magazine and you’ll find them. To subscribe or see a few more magazines for free, check out page 106 of this issue. I have to thank my team. They did an excellent job with research and finding chains that need more retail sites. Stop by our booth and meet The Dealmakers team during RECon. We also have a charging station for cell phones, iPads, etc. You can take a break on our couches, while your device is charging. The Dealmakers’ Prize Crew will be charged up too. Look for them; they will be giving away free subscriptions, iPads and other cool stuff to some lucky people on the convention floor and visiting our booth. I have to wrap it up. Have an excellent show, make new friends and lots of deals. Stop by and say hello while you’re in Las Vegas,

Ann O’Neal, Publisher

Dealmakers Magazine | www.dealmakers.net


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Multi-Million Dollar Renovation Commences Summer 2014

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Owner/Manager 7 Penn Plaza, NY 10001 | feilorg.com Randy Briskin | rbriskin@feilorg.com 212 563 6557 x218 Nothing Beats 60 Years of Stability.

Visit us at S249 Q Street at RECon 2014.


Metairie Louisiana LAKESIDE SHOPPING CENTER E ID ES IRST E S KE OM F AK LA ELC A’S SEC ! W IAN EE ORY S UI CH CT LO THE FA

1,682 – 5,822 SF Plus 10,100 SF Pad Available • 1,154,000 SF enclosed super regional mall including over 140 national, regional and local retailers including Dillard’s, Macy’s, JCPenney, Dick’s Sporting Goods, J. Crew, Apple, A/X Armani Exchange, Sephora, Coach, Michael Kors, Godiva, Pottery Barn, and many more • Attracts an estimated 10 million shoppers per year • Highest grossing mall in the New Orleans market • Estimated retail sales totaling over $13 billion • Located just off Interstate 10 at the intersection of Veterans Memorial Boulevard and Causeway Boulevard

Owner/Manager 7 Penn Plaza, NY 10001 | feilorg.com Tricia Phillpott | tricia@lakesideshopping.com Glen Wilson | gwilson@lakesideshopping.com 504 835 8000 Nothing Beats 60 Years of Stability.

Visit us at S249 Q Street at RECon 2014.


North Riverside Illinois NORTH RIVERSIDE PARK MALL

237 – 7,221 SF Inline Space 6,000 – 8,000 SF Pad Site Available • 1.1 million SF super regional mall anchored by JCPenney, Sears and Carson Pirie Scott • Two-level, enclosed mall features over 140 retail shops including Children’s Place, Old Navy, Wet Seal, Forever 21, Express, Bath & Body Works, Charlotte Russe, Starbucks, Victoria’s Secret, New York & Company, and 6-plex theater • Situated just 10 miles west of downtown Chicago • 5-mile radius: population 700,000; 377,375 under age 35; 270,000 households with $63,000 average HH income

Owner/Manager 7 Penn Plaza, NY 10001 | feilorg.com Harvey Ahitow | hahitow@feilorg.com | 708 442 7605 Glen Wilson | gwilson@feilorg.com | 504 835 8000 Nothing Beats 60 Years of Stability.

Visit us at S249 Q Street at RECon 2014.


STATE OF THE INDUSTRY 2014 The Dealmakers surveyed executives of retail development, brokerage, leasing, sales, acquisitions, financing and property management companies for its 2014 State of the Industry report. The survey also includes responses from approximately 2,000 retail chains, with a historical comparison of growth projections. The report provides the shopping center industry with a benchmark for national trends, changes and momentum of the real estate landscape. It offers insider insight to emerging and expanding retail growth, upticks in retail sales, retail IPOs; how your peers are faring and a general overview on where we stand as an industry. Most of this year’s respondents are optimistic, and that sentiment was profoundly resonant amongst retailers, 92 percent of the retail chains responding to our survey project opening at least one location by the end of 2015. The pendulum has swung; in 2010, less than 50 percent of the retailers surveyed projected any growth. Retailers are feeling the benefits of a renewed consumer confidence and Wall Street is back in play with the retail sector. Despite a long, cold winter, retail sales in the United States hit a record high this year. The U.S. Commerce Department recorded that retail sales increased by 1.1 percent in March, and 3.8 percent from one year ago, the largest gain since September 2012. The consensus is that retail sales are picking up from coast to coast. Recent employment data has suggested the economy found momentum at the end of the first quarter and job growth saw an improvement during February and March. First-time unemployment applications also shrank back to the level they were at before the recession hit. These positive indicators encourage chains to grow store counts. Retailers are feeling more confident about taking it to the street – Wall Street, that is. According to IPO tracker Renaissance Capital, retail chain IPO activity this year is anticipated to outpace 2013. A few chains that plan to tap the market or succeeded with IPOs this year include: • Papa Murphy’s plans to raise an IPO fund of $70 million. • Zoe’s Kitchen, a 111-unit chain, exceeded its goal of raising $80.5 million through an IPO. • Floor & Décor, a 30-unit chain, is planning an IPO this year. • J. Crew is slated to tap the IPO market. • Sportsman’s Warehouse, a 50-unit chain with revenues of nearly $527 million last year, anticipates a $201 million IPO. • Mrs. Green’s Natural Market, a 23-unit chain, is rumored to be eyeing an IPO. • Café Rio, Inc., a 68-unit chain with 10 units opening this year, is also another potential IPO. • El Pollo Loco, Inc. appointed Jefferies Group, LLC and Morgan Stanley to lead its IPO. Retail real estate dealmakers are welcoming this change. Lee Cherney, Senior Vice President of Kin Properties said, “I think we are in the rising part of the cycle now, which should last for another year or so. However, markets by nature not only move up, they move down. While I don’t think a downturn in 2015 and 2016 will be as bad as the last one, there is bound to be a correction.” Ralph Cram, Chief Page 12 | May 23, 2014

Operating Officer of Envoy Net Lease Partners said, “It could be the best environment to be a real estate developer since 2003. Retailers are looking for space. Land and construction costs are manageable for now, and investor demand for stabilized properties is as great as it ever was.” Amongst this optimism, retail real estate executives expressed concern that a number of retail chains are announcing large rounds of store closings to commence this year. Even as the economy grows, some national chains have yet to achieve profitability since the recession, and many established chains have lost footing with their customers. Notable closures include: • Coldwater Creek filed for bankruptcy and closed the chain after losing $60 million during its last fiscal year, which was preceded by seven years of unprofitability. • Abercrombie & Fitch plans to shutter 180 locations and Aeropostale is closing 50 stores after a decline in net-income from $229.5 million to $34.92 million. • Dots decided to liquidate its chain of 360 stores, as did Loehmann’s. • Family Dollar plans to close 370 stores after a second quarter compstore sales decline by 3.8 percent. • Barnes & Noble plans to close one-third of its stores during the next 10 years. • RadioShack is closing 1,100 of its 5,000 stores. • Staples to close 225 stores, 12 percent of its total count, by the end of next year. • GameStop plans to close two percent of its locations. • Sprint plans to close 55 stores nationwide. • Office Depot merged with Office Max last year and cut store counts. • Sbarro and Brookstone filed bankruptcy. • JC Penney is another predicted contender for more closings. • Walgreens is closing 76 unprofitable stores. Causes for these chains’ recent closures include Migration of storefront retail long-term mismanagement, rapid growth with marginal sales to an Internet platform is locations and uses that a catalyst for a majority of the shifted to an online platform. store closings… Migration of storefront retail sales to an Internet platform is a catalyst for a majority of the store closings listed above, with a systemic shift in selling office supplies, electronics, games, books and toys online. Merger and acquisition activity in the supermarket sector is also expected to create more vacant anchor space. Although the number of announced store closures is massive, with 3,000 or more locations coming available for lease, most retail chains are in expansion mode and the absorption of existing space is expected to continue (continued on page fourteen)

Dealmakers Magazine | www.dealmakers.net


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Bedminster NJ

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THE DEALMAKERS STATE OF THE INDUSTRY 2014 (continued from page twelve)

to increase. Chuck Lanyard, President of The Goldstein Group and Retail Brokers Network, concurred, “In the New York/New Jersey/Connecticut tri-state area, many of these spaces will easily be absorbed, especially the big boxes that come available. Hobby Lobby, along with supermarkets, will quickly lease up these prime spaces.” Michael Wiener, President and CEO of Excess Space Retail Services, Inc., added “Many retailers continue to control their rent to sales ratio through highly evolved lease restructuring programs. However, with an economy that has significantly improved from the depths of the recession and with retailers expanding once again, they are having to assess the performance of the entire fleet and finally cull out the stores that are still underperforming. Accordingly, we anticipate a very robust trend in additional store closures throughout the remainder of 2014 and into 2015.”

RETAIL CHAIN GROWTH BY STORE COUNTS 2014

2013

2010

No Growth

8%

7%

52%

Plan to open sites

82%

85%

40%

61 or more sites

1%

1%

1%

21 to 60 new sites

2%

2%

2%

4 to 20 new sites

2%

2%

2%

Up to 3 new sites

5%

3%

3%

Many landlords are using store closings as an opportunity to reposition or redevelop their properties. As more and more tenants look to occupy second-generation space, and now that the economy has improved, owners are starting to question the long-term viability of prospective tenants and are reluctant to enter leases with uses that are highly susceptible to becoming extinct due to the Internet. The Dealmakers research shows the following uses are the least likely to transport from storefronts to an online presence: • Prepared foods, take-out or eat-in, and liquor by the serving. • Clothing, shoes and jewelry. • Produce, perishables and packaged alcoholic beverages. • Cosmetics and hair, nail, massage, facial and tanning services. • Gas and impulse items. • Laser, dental, optical and medical services. • Educational services for adults and children, child care. • Fitness centers. • Pet grooming and day care and medical. • Entertainment such as SkyZone, with indoor trampolines. • Shipping service, i.e. post office or UPS and governmental agencies. • Checking cashing and pawn shops, wire transfers and payments for cable and phone services. • Tools, building and gardening supplies. • Furniture and home furnishings. • Automotive repair and supplies. • Sporting goods – hard lines i.e., golf clubs, canoes, etc. • Discount and closeout stores catering to lower incomes. • Stores catering to teens. • Art and craft supplies and fabrics. The above research is further reinforced by the results of The Dealmakers’ survey of 2,000 retail chains. Of the 92 percent of the Page 14 | May 23, 2014

respondents expecting to open at least one unit, restaurant uses represented 35 percent of the projected growth followed by apparel chains which represented 9 percent of the expanding chains. The uptick in apparel sales is most likely a reaction to pent up demand for fashion after a few solid years of families spending less on clothing during the recession. Supermarkets account for 6 percent of the projected growth, as do home furnishings and home improvement stores. An increase in store counts of home furnishing stores is another solid indicator that the economy has turned for the better, and consumers have more discretionary income or credit to put towards higher ticket merchandise. Convenience and automotive supply chains ranked at 4 percent, while discount and general merchandise chains, in addition to cosmetics and DEPARTMENT STORES beauty services, ELECTRONICS represented 3 ENTERTAINMENT FITNESS percent of the HEALTH SERVICE growing chains. SPECIALTY The Dealmakers SPORTING GOODS compared its FOOD 2014 results of HAIR/BEAUTY projected store growth by use to DISCOUNT results from 2013 CONVENIENCE and 2010; food and supermarkets AUTOMOTIVE APPAREL are the only uses that consistently HOME IMPROVEMENT showed the most AND projected growth FURNISHINGS SUPERMARKET over the past four years. Lanyard commented, “Fortunately, brick and mortar stores will always thrive as people still enjoy the instant gratification of taking a product home, and shopping will always be a family event and pastime.” Retailers are back to signing leases. During the past year, Cherney finalized deals with Hobby Lobby, Payless ShoeSource, AutoZone, Dunham’s Sports, Dick’s Sporting Goods and Outback Steakhouse. Paul Tsakiris, President of First Western Properties, added that he has inked leases with “dozens of quick-serve restaurants and medical users, such as Davitta, Fresinius and Oncology.” According to Sandy Shindleman, President of Shindico, “Exciting concepts entering the Canadian marketplace include P.F. Chang’s, Panera Bread, The Cheesecake Factory and Mexican quick-serve chains. Canadianbased chains are also in expansion mode. These include Boston Pizza, Cara Restaurants and Sobeys, a supermarket chain that recently acquired Safeway.” “One exciting retail chain expanding this year is Mariano’s. The way they were able to take the Chicago, Illinois market was incredible,” Tsakiris noted. Lanyard added, “In New Jersey, we saw a significant increase in deals being signed, especially restaurants. New Jersey’s market has gotten so strong that the vacancy rate has dropped to 6.9 percent, the first time in five years, accordingly to The Goldstein Group’s 2013 Year End Vacancy Report. Consumer confidence has definitely been a key factor in retailers returning to the deal signing table, and the result is that good spaces are leasing up fast.” Franchise influences on new store growth will continue to contribute to the absorption of retail space. Franchise growth crosses all sectors, from fast-food to fitness, and not only are emerging concepts growing through franchising, established concepts are also continuing to open locations. Anytime Fitness is an example of a concept with (continued on page ninety-nine)

Dealmakers Magazine | www.dealmakers.net


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LATINOS CREATING SHOPPING CENTERS TO MEET THEIR NEEDS Stephanie Weaver and Ann O’Neal One in every six Americans is Latino. Since 1980, the Latino population in the United States has increased dramatically from 14.6 million, per the Census Bureau, to exceeding 50 million today. This escalation is not just seen in major metropolitan cities and along the AmericaMexico border, but throughout the country, from Cook County, Illinois to Miami-Dade, Florida. By 2050, the Latino population is projected to reach 134.8 million, resulting in a 30.2 percent share of the U.S. population. Stan Sanchez President | De Rito Partners

Lizette Borbon-Iskhakova Broker | De Rito Partners

Latinos are key players in the nation’s economy. While the present economy benefits from Latinos, the future of the U.S. economy is most likely to depend on the Latino market, according to “State of the Hispanic Consumer: The Hispanic Market Imperative,” a report released by Nielsen, an advertising and global marketing research company. According to the report, the Latino buying power of $1 trillion in 2010 is predicted to see a 50 percent increase by next year, reaching close to $1.5 trillion in 2015. The U.S. Latino market is one of the top 10 economies in the world and Latino households in America that earn $50,000 or more are growing at a faster rate than total U.S. households. As for consumption trends, Latinos tend to spend more money per shopping trip and are also expected to become a powerful force in home purchasing during the next decade. Business is booming for Latinos. According to a study by the Partnership for a New Economy, the number of U.S. Latino entrepreneurs has reached two million. Ten percent of the U.S. population are entrepreneurs, but among Latino immigrants, the percentage is even higher, at 11.7 percent.

Marcela Houser Broker | De Rito Partners

The Latino youth has huge potential buying power and they represent an opportunity to generate substantial retail sales. According to a report released by the Pew Hispanic Center, 8.1 percent of Latino women in the U.S. have given birth during the last year, as opposed to only 5.9 percent of Caucasian women.

According to the Census Bureau, the median age of the Latino population is 28 years old, more than 60 percent of the U.S. Latino population is under the age of 35 and millennial Latinos will represent 80 percent of the 18-to29-year-old population by next year. In California alone, 51 percent of children under 18 are Latino, according to the U.S. Census. And Latino college enrollment has grown by 20 percent during the last three years. Many advertisers are taking notice of these trends.

Page 16 | May 23, 2014

Google will soon launch .soy (.I am), a new domain targeting Latinos, and McDonald’s launched the Spanish website meEncanta.com. While these young Latinos are adapting to U.S. customs, they still preserve a strong tie to the Latino culture, traditions and value systems. One real estate company that understands this growing customer base is De Rito Partners. The firm’s Hispanic Team prides itself on having a strong relationship with the Hispanic communities along with all facets of the commercial real estate industry. This team of real estate professionals has deep Hispanic roots, and the company boasts one of the only Hispanic bicultural/bilingual retail focused teams in Arizona. Through years of experience, as well as long-standing industry and cultural connections, Stan Sanchez, Lizette Borbon-Iskhakova, and Marcela Houser have developed a noteworthy relationship with the Hispanic retail and real estate communities. Stan Sanchez, president of De Rito Partners, is a member of the ICSC Hispanic Initiative Committee, as well as the Hispanic Chamber of Commerce, National Association of Hispanic Citizens and Retail Brokers Network. Houser is one of the few Hispanic CCIMs in the state of Arizona, and focuses on sales and investments. BorbonIskhakova has continually been one of the top producers for De Rito Partners and has developed strong retail connections throughout California, Texas, New Mexico, the state of Sonora, Guadalajara, Jalisco, and Mexico City. “Latinos are very proud of their heritage and no matter how long they have been living in this country, and how integrated to the American way they have become, they still carry on and honor their traditions and customs,” commented Sanchez. “Traditions are passed on from generation to generation and they may vary substantially from country to country. The Latino consumer may have come here from as close as Mexico to as far off as Argentina and their tastes and culture could be completely different from one another.” The Latino ethnic population contains “ Latinos are very proud of their 21 sub-groups, such heritage and no matter how as Cuban, Mexican long they have been living in this and Puerto Rican. According to Sanchez, country, and how integrated to the landlords need to be American way they have become, sensitive to cultural they still carry on and honor their differences of the Latino populations traditions and customs” living in their market and cater to them accordingly. Stan further explained, “The important thing to understand about the difference in markets is the cultural difference that Hispanics have from region to region and from country to country. An example would be the difference that southern Mexico has from northern Mexico in its food types and how the landlord needs to understand who their customers are and what their buying habits are based on their country of origin.” The U.S., however, didn’t always accept the Latino population. Just 10 years ago, residents of Orange County, California were up in arms (continued on page ninety-two)

Dealmakers Magazine | www.dealmakers.net


MY, WHAT A TEMPTING EQUITY DEAL YOU HAVE!

Equity partners in shiny suits are not always what they seem. Changing deal terms and uncertainty until the moment of closing can all follow the first friendly meeting. At Hutensky Capital Partners we do it differently. We stand by our commitments with a track record of providing creative equity to recapitalize retail real estate assets and build or acquire new ones. So if you are a shopping center expert in need of an equity partner that won’t steal your picnic basket (or worse), please call.

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A Partner That’s Different Brad Hutensky | bhutensky@hcpfund.com | 860.297.4530 100 Constitution Plaza, Seventh Floor, Hartford, Connecticut 06103 | hcpfund.com


NEW CONSTRUCTION K Corp. is preleasing North Amityville Crossroads Shopping Center, located at the intersection of Great Neck Road and Albany Avenue in the North Amityville section of Long Island, NY. Shop spaces of 2,000 sq.ft. to 15,000 sq.ft. are available. Future cotenants will include Dollar Tree and Shell. Area demographics include a population of 330,000 within a five-mile radius. The average daily traffic count is 20,000 vehicles. For more information, contact Boni LaValley, K Corp., 212-243-5999; Email: boni@kcorporation.com. Carolina Holdings, Inc. is preleasing New Holland Market, a 213,000 sq.ft. development located at the intersection of Jesse Jewel/GA 369 and Limestone Parkway/ U.S. 129 in Gainesville, GA. Kroger anchors the site. Nine outparcels are available. Area demographics include a trade-area population of 310,837 earning $55,820 as the average household income. For more information, contact David Winburn, Carolina Holdings, Inc., 40 West Broad Street, Suite 410, Greenville, SC 29601; 864-272-0088; Email: david.winburn@choldings.com. Lane4 Property Group, Inc. is preleasing La Plaza Argentine, situated on 13 acres and located along U.S. Highway 69 in Kansas City, KS. Plans call for a 41,000 sq.ft. Walmart Neighborhood Market, in addition to four pad sites totaling 20,000 sq.ft. The site is located near a newly developed 22,000 sq.ft. Save-A-Lot grocery store. For more information, contact Lane4 Property Group, Inc., 4705 Central Street, Kansas City, MO 64112; 816-960-1444, Fax 816-960-1441; Web site: www.lane4group.com.

Royal Properties, Inc. is redeveloping Airmont Plaza, located along Route 59 in Suffern, NY. Anchor spaces of 20,000 sq.ft. to 41,000 sq.ft. are available, along with shop spaces of 1,000 sq.ft. to 14,000 sq.ft. Area retailers include Walmart, ShopRite, Walgreens, Applebee’s, Starbucks, Outback Steakhouse, 7-Eleven, Dunkin’ Donuts, CVS, McDonald’s, Planet Fitness, GameStop and KinderCare. Area demographics include a population of 177,771 within a five-mile radius earning $109,813 as the average household income. The average daily traffic count is 44,246 vehicles along North Airmont Road. The CAM is $3.00 psf and taxes are $6.00 psf. For more information, contact Jeanine Kemm or David Landes, Royal Properties, Inc., 850 Bronx River Road, Bronxville, NY 10708; 914-237-3403 Ext. 111, Fax 914-2370196; Email: jeanine@royalpropertiesinc.com; Web site: www.royalpropertiesinc.com. Landmark Real Estate is preleasing Ridgewood 17 Plaza, a 15,388 sq.ft. strip center situated on 2.5 acres and located at the intersection of Route 17 South and Linwood Avenue West in Ridgewood, NJ. Starbucks will anchor the center. Area demographics include a population of 281,067 within a five-mile radius earning $131,582 as the average household income. The average daily traffic count is 109,024 vehicles. The asking rent is $50 psf. For more information, contact Larry Liebowitz or Jordan Liebowitz, Landmark Real Estate, 392 Main Street, Wyckoff, NJ 07481; 201-560-1800, Fax 201-560-0600; Email: ll@landmarkreco.com; Web site: www.landmarkreco.com.

Shindico is preleasing a 27,300 sq.ft. strip center located at the intersection of Main Street and Murray Avenue in Winnipeg, Manitoba, Canada. Shop spaces of 1,600 sq.ft. to 7,200 sq.ft. are available. Dollarama will anchor the center. Area retailers include Sobeys and Shoppers Drug Mart. Area demographics include a trade-area population of 134,137 earning $73,090 as the average household income. The average daily traffic count is 38,800 vehicles. The site is located near the Red River Community Centre. The company is also preleasing Grant Park Pavilions, a one million sq.ft. mixed-use development, situated on 50 acres, at the intersection of Pembina Highway, Taylor Avenue and Harrow Street in Winnipeg, Manitoba, Canada. Spaces of 1,000 sq.ft. to 250,000 sq.ft. are available. Area retailers include Grant Park Festival and Grant Park Shopping Centre, featuring Target and Empire Theatres. Area draws include Winnipeg Soccer Complex and Golf Dome. Area demographics include a trade-area population of 189,309 earning an average household income of $91,655. The average daily traffic count is 26,300 vehicles. The site is near Yards at Fort Rouge, a multi-family and high-rise residential development. The company is also preleasing Shops of Kildonan Mile, a 340,000 sq.ft. power center situated on 35 acres and located at the intersection of Reenders Drive, Stapon Road, Rougeau Road and Lagimodiere Boulevard. Spaces up to 340,000 sq.ft. are available. Area retailers include Kildonan Place, featuring Famous Players Theatres, Sears and Target, as well as Canadian Tire, Real Canadian Superstore, Rona, Costco, Home Depot and Walmart Supercenter. Area demographics include a trade-area population of 122,216 earning $71,143 as the average household income. The average daily traffic count is 48,640 vehicles. For more information, contact Sandy Shindleman, Shindico, 200-1355 Taylor Avenue, Winnipeg, Manitoba, Canada R3M 3Y9; 204-474-2000, Fax 204-284-7115; Email: sshindleman@shindico.com; Web site: www.shindico.com. Olshan Properties is redeveloping Great South Bay, a 470,000 sq.ft. center located at the intersection of Montauk Highway and Park Avenue in Long Island, NY. Cotenants include Bed Bath & Beyond, Aldi, LA Fitness, Old Navy and Panera Bread. Area demographics include a population of 737,501 within 10 miles earning $106,864 as the average household income. For more information, contact Olshan Properties, 600 Madison Avenue, 14th Floor, New York, NY 10022; 212-935-1330; Email: leasing@olshanproperties.com.

Landmark Real Estate is preleasing Ridgewood 17 Plaza in Ridgewood, NJ. Page 18 | May 23, 2014

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Dealmakers Magazine | www.dealmakers.net


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VISIT US AT BOOTH S236 Q STREET AT RECON 2014. For more information or to schedule an appointment, contact: Robert Delavale, Director of Leasing | 516-741-7400 x230 | rdelavale@breslinrealty.com 500 Old Country Road, Garden City, NY 11530 | www.breslinrealty.com


WHO’S OPENING AND WHERE The Kroger Co. (513-762-4000) is planning to open a 123,000 sq.ft. Kroger Marketplace at a proposed community development near the intersection of Cypresswood and Fairfield Meadow Drive in Cypress, TX during late 2015. The company is also slated to open a 114,000 sq.ft. supermarket situated on 22.6 acres along Iron Bridge Road, between Court Yard Road and Greenyard Road in Chesterfield, VA during 2015. The company currently operates more than 2,500 grocery stores nationwide.

Fantastic Sam’s Franchise Corp. (978-2325626), through a franchisee, plans to open a 1,600 sq.ft. upscale salon concept called Camille Albane in the Arbor Lakes area of Maple Grove, MN. The company also plans to open five additional locations in the area during the coming five to seven years. Camille Albane currently operates at 300 locations throughout 11 countries, including a salon in Boston, MA.

LUSH North America (888-733-5874) is planning to open 23 Lush Fresh Handmade Cosmetics stores this year and 34 openings during fiscal 2015 throughout North America. The company, based in the United Kingdom, offers bath products, beauty items, as well as hair and skin care products and currently operates more than 188 locations throughout North America.

Barry Bagels (419-885-1000), through a franchisee, is planning to open five restaurants in Columbus, OH during the next several years. The chain also has plans to expand into Chicago, IL; Pittsburgh, PA and Indianapolis and Ft. Wayne, IN. The company currently operates five bagel shops in Ann Arbor, MI and the Toledo, OH area.

SoulCycle (718-208-1300) is planning to open a 3,500 sq.ft. facility at Brickell Heights, located along South Miami Avenue in Miami, FL during fall 2016. It will be the company’s first location in the southeast region of the U.S. The company, offering indoor cycling, currently operates 26 fitness studios throughout CA, CT, MA, NJ and NY.

Kono Pizza (848-202-1108) has 15 locations slated to open in CA, FL, NC, NE and NJ, as part of an expansion plan to open 50 units nationwide during the coming five years. The company currently operates 130 restaurants worldwide.

Dick’s Sporting Goods, Inc. (724-2733400) is planning to open prototype stores of various sizes. The prototype will be small enough to be situated in smaller market areas and in small shopping centers. The chain currently operates more than 558 Dick’s Sporting Goods and more than 87 Golf Galaxy locations nationwide, as well as its newest concept, Field and Stream.

Fresh to Order (770-594-8644), through a franchisee, is planning to open a location in Gwinnett County, GA. The company also has plans to open a location in Greenville, SC this year. The restaurant chain, offering entrees, paninis, sandwiches, soups and salads, currently operates more than 100 locations.

Salata, Inc. (713-739-0101) is planning to double its Salata unit count during the coming two years, along with opening six restaurants in the North Shore area of IL. The company currently operates 38 restaurants throughout the Los Angeles, CA market and TX.

American Dairy Queen Corp. (952-8300200), through franchisee LSQ Foods, is expanding throughout Manhattan, NY. The company, offering ice cream, smoothies, shakes and bakery items, currently operates 6,400 locations nationwide and trades as Dairy Queen and DQ Chill & Grill.

Rad Air Complete Car Care & Tire Center (877-723-2471) is planning to open two auto repair centers in Wickliffe, OH. The chain operates 10 locations in OH.

PizzaPeel, LLC (818-717-1827) is planning to open four PizzaRev restaurants in Austin, TX and three locations in St. Louis, MO over the next two years.

McAlister’s Deli (601-956-3887), through franchisees, is planning to open 25 restaurants in new and existing markets, including AZ, FL, NM, OH, PA, TX, VA and WY. The company, offering sandwiches, soups, salads and dessert items, currently operates more than 320 locations throughout 24 states.

Panera Bread Co. (314-633-7100), under franchisee Covelli Enterprises, Inc., plans to open seven restaurants this year. The franchisee operates 250 locations throughout FL, OH, PA, WV and Canada. The company offers sandwiches, soups, salads and baked goods. Cabela’s, Inc. (308-254-5505) plans to open 12 Cabela’s stores throughout the U.S. and two Canada locations annually through 2017. The chain, offering hunting, fishing, camping, hiking, boating and other outdoorrelated equipment, apparel and gear, currently operates more than 51 locations in North America. Sylvan Learning, Inc. (888-338-2283) is planning to open six to 10 Sylvan Learning educational centers throughout the Sacramento, CA region. The company currently operates more than 800 locations throughout North America and internationally. Dollarama, Inc. (514-737-1006) is planning to open 400 Dollarama locations throughout Canada, including more than 150 stores during the coming two years, as part of expansion plans to operate 1,200 locations. The company, offering discounted gift and seasonal items, beauty products, toys, and snack items, currently operates more than 800 locations throughout Canada.

Kroger is planning to open a Kroger Marketplace in Cypress, TX during late 2015. Page 20 | May 23, 2014

(continued on page thirty-four)

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BUYERS AND SELLERS The Shopping Center Group, LLC is selling Dickson City Shopping Center, a 47,224 sq.ft. strip center located in Dickson City, PA. The company is also selling Flint Crossing, a 64,925 sq.ft. shopping center, situated on a land area of 9.25 acres, and located in Meridianville, AL. Publix currently anchors the site. For more information regarding Dickson City Shopping Center, contact Lynn De Marco, The Shopping Center Group, LLC, 1841 Broadway, Suite 600, New York, NY 10023; 212-741-2500. For more information regarding Flint Crossing, contact Neal Pringle, 300 Galleria Parkway, 12th Floor, Atlanta, GA 30339; 770-955-2434; Email: neal.pringle@tscg.com. Upland Real Estate Group, Inc. is selling a Roundy’s Supermarket in West St. Paul, MN. The asking price is $7.8 million with a Cap rate of 6.25%. Area demographics include a population of 211,018 within five miles earning $71,507 as the average household income. For more information, contact Deb Vannelli, Upland Real Estate Group, Inc., 50 South 6th Street, Suite 1418, Minneapolis, MN 55402; 612-376-4475, Fax 612-3764489; Email: deb@upland.com. ORION Investment Real Estate is selling Power Road Plaza, a 40,240 sq.ft. shopping center located along South Power Road in Mesa, AZ. The center is anchored by Van’s Golf Shop. The asking price is $4.4 million. For more information, contact Nick Miner, ORION Investment Real Estate, 7135 Camelback Road, Suite 202, Scottsdale, AZ 85251; 480-612-0384; Email: nick.miner@orionprop.com.

Cushman & Wakefield is selling Cypress Station Square, a 140,924 sq.ft. center situated on a land area of 15.34 acres and located at the intersection of Interstate 45 and FM 1960 in Houston, TX. The center is 84% leased and anchored by David’s Bridal. The company also negotiated the sale of a 114,481 sq.ft. freestanding BJ’s Wholesale Club in Framingham, MA. Inland Real Estate acquired the property for $26.5 million. For more information regarding Cypress Station Square, contact Cushman & Wakefield, 2101 Cedar Springs Road, Suite 900, Dallas, TX 75201. For more information regarding BJ’s Wholesale Club, contact Robert Griffin, Jr., 225 Franklin Street, Suite 300, Boston, MA 02110; 617-204-4150; Email: robert.griffin@cushwake.com. Cambridge Capital Advisors is selling Eastgate Shopping Center, a 102,948 sq.ft. center situated on a land area of 11 acres, and located in Sallisaw, OK. Tenants include Tractor Supply Co., Stage and Factory Connection. Area retailers include AutoZone, Dollar General, Taco Bell, KFC, Hardee’s and NAPA. For more information, contact Louie Caci, Cambridge Capital Advisors; 617-964-1031; Email: info@cambridgecapitaladvisors.com. The Boulder Group represented the seller in the sale of a Tractor Supply Co. located along Florida Avenue Southeast in Denham Springs, LA. The property is situated on a land area of 5.84 acres and was acquired for $3.615 million. For more information, contact Randy Blankstein, The Boulder Group; 847-5620003; Email: randy@bouldergroup.com.

Capital Pacific is selling a 21,839 sq.ft. strip center, situated on a land area of 1.89 acres, in Prattville, AL. The site is 80% occupied and anchored by Rite Aid. The asking price is $2.015 million with a Cap rate of 8.5%. The company is also selling Zoe’s Kitchen, a 2,700 sq.ft. freestanding restaurant located in Richardson, TX. The asking price is $2 million with a Cap rate of 5.75%. For more information regarding the strip center in Prattville, AL, contact Dave Lucas, Capital Pacific, 180 Montgomery, Suite 1250, San Francisco, CA 94104; 415-2747390; Email: dlucas@capitalpacific.com. For more information regarding Zoe’s Kitchen, contact Joe Caccamo; 415-274-7394; Email: jcaccamo@capitalpacific.com. Cassidy Turley is selling Willow Creek Village, a 164,979 sq.ft. neighborhood center located along Willow Creek Road in Prescott, AZ. The center is 94% occupied and tenants include Safeway, Bealls Outlet, C-A-L Ranch Stores, Dunn-Edwards Paints, UPS Store, Little Caesars Pizza and Check Into Cash. The asking price is $14.425 million. For more information, contact Dixie Walker, Cassidy Turley, 2375 East Camelback Road, Suite 300, Phoenix, AZ 85016; 602-954-9000, Fax 602-468-8588; Email: dixie.walker@cassidyturley.com. Net Leased Investment Co. is selling two freestanding O’Reilly’s Auto Parts. The 6,400 sq.ft. Nottoway County, VA location is situated on a land area of 30,000 sq.ft. The asking price is $1.322 million with a Cap rate of 6.25%. The 6,400 sq.ft. McDowell County, NC location is situated on a land area of 2.28 acres. The asking price is $1.44 million with a Cap rate of 6.25%. For more information, contact Scott Austin, Net Leased Investment Co., 613 North Pinto Court, Winter Springs, FL 32708; 407-977-2448, Fax 888-316-5767; Email: austin@cfl.rr.com. Edgemark Commercial Real Estate Services LLC negotiated the sale of Golf Plaza One, an 82,748 sq.ft. shopping center located at the intersection of Golf Road and Busse Road in Mt. Prospect, IL. The property is 100% leased and tenants include Wally’s Grocery, AutoZone, Ace Hardware, The UPS Store and Subway. The company represented the seller in the transaction. For more information, contact Laura Liljehorn, Edgemark Commercial Real Estate Services LLC, 2215 York Road, Suite 503, Oak Brook, IL 60523; 630472-1010, Fax 630-472-1019; Email: lliljehorn@edgemarkllc.com.

The Boulder Group represented the seller in the sale of a Tractor Supply Co. in Denham Springs, LA. Page 24 | May 23, 2014

(continued on page twenty-eight)

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FOOD CHAINS EXPAND NATIONWIDE The Melting Pot Restaurants, Inc. trades as The Melting Pot at 142 locations nationwide, as well as in Canada and Mexico. The restaurants prefer to occupy spaces of 4,000 sq.ft. to 6,000 sq.ft. in entertainment, lifestyle, power, specialty and strip centers, as well as regional malls, freestanding locations and urban/downtown areas. Growth opportunities are sought throughout the Midwestern, northeastern, western and southeastern regions of the U.S., as well as internationally, during the coming 18 months. Typical leases run 10 years. Preferred demographics include a population of 300,000 within a 10-mile radius earning $55,000 as the average household income. The company is franchising. For more information, contact Jim Sullivan, The Melting Pot Restaurants, Inc., 8810 Twin Lakes Boulevard, Tampa, FL 33614; 813-425-6215 Ext. 115, Fax 813-367-0076; Email: jsullivan@meltingpot.com; Web site: www.meltingpot.com. Corner Bakery Café operates more than 160 locations nationwide. The restaurants occupy spaces of 3,500 sq.ft. to 4,400 sq.ft. in endcaps of shopping centers or pad sites. Growth opportunities are sought throughout Bergen, Hudson, Middlesex, Monmouth, Ocean, Somerset and Union counties in NJ during the coming 18 months, with representation by RJ Brunelli & Co. The company prefers locations with high visibility. An outdoor patio area is preferred. For more information, contact Danielle Brunelli Albrecht, RJ Brunelli & Co., 400 Perrine Road, Suite 405, Old Bridge, NJ 08857; 732-721-5800; Email: dbrunelli@rjbrunelli.com; Web site: www.rjbrunelli.com.

Blaze Pizza operates 10 locations throughout CA, IL, MI and WI. The pizzerias occupy spaces of 1,800 sq.ft. to 2,500 sq.ft. in freestanding locations, strip and power centers, as well as urban areas. Growth opportunities are sought throughout the San Francisco Bay area in CA during the coming 18 months, with representation by SRS Real Estate Partners. Blue Line Pizza operates three locations throughout CA. The pizzerias occupy spaces of 3,000 sq.ft. to 5,000 sq.ft. in freestanding locations, strip and power centers, as well as urban areas. Growth opportunities are sought throughout northern CA during the coming 18 months, with representation by SRS Real Estate Partners. For more information, contact Ross White, SRS Real Estate Partners, 301 Howard Street, Suite 900, San Francisco, CA 94105; 415908-4939; Email: ross.white@srsre.com; Web site: www.srsre.com. Juicy’s Outlaw Grill operates two locations throughout AZ and NC. The quick-service hamburger restaurants occupy spaces of 1,000 sq.ft. to 2,500 sq.ft. in regional malls, outlet and tourist centers. Plans call for five to 10 openings throughout the southeast, Gulf Coast and western regions of the U.S. during the coming 18 months, with representation by Northcap Commercial. Typical leases run five to 10 years. Major competitors include Johnny Rockets, Five Guys Famous Burgers and Fries and Smashburger. The company will also locate in second-generation spaces in areas with high traffic counts. For more information, contact Sjon Scarborough, Northcap Commercial, 815 Pilot Road, Suite E, Las Vegas, NV 89119; 702-771-2796; Email: sjonlvnv@gmail.com.

Corner Bakery Café is seeking growth opportunities throughout Bergen, Hudson, Middlesex, Monmouth, Ocean, Somerset and Union counties in NJ during the coming 18 months. Page 26 | May 23, 2014

GM Burger Bar operates one location in NY. The casual dining restaurant occupies spaces of 2,500 sq.ft. to 4,000 sq.ft. in malls and downtown locations. Growth opportunities are sought throughout Manhattan, Nassau and Suffolk, NY during the coming 18 months, with representation by Great American Brokerage. The company requires a liquor license. Chill Box operates 35 locations internationally. The restaurants prefer to locate in lifestyle, festival and outlet centers, as well as malls. Growth opportunities are sought throughout southern FL in spaces of 1,000 sq.ft. to 1,600 sq.ft. and in Manhattan, NY in spaces of 600 sq.ft. to 1,200 sq.ft. during the coming 18 months, with representation by Great American Brokerage. The company is franchising. Bassett’s Better Burgers operates one location in PA. The restaurant occupies spaces of 500 sq.ft. to 1,500 sq.ft. in lifestyle centers, as well as food courts of malls. Growth opportunities are sought throughout the Philadelphia, PA metropolitan business district 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 516-8895113; Email: gtamerican@aol.com; Web site: www.restaurantexpert.com. La Madeleine operates 63 locations throughout GA, LA, MD, OK, TX and VA. The fast-casual restaurants prefer to occupy spaces of 3,500 sq.ft. to 5,000 sq.ft. in freestanding locations. Growth opportunities are sought throughout the greater Oklahoma City and Tulsa areas of OK, as well as in Harker Heights/Killeen, San Antonio and Waco, TX during the coming 18 months, with representation by Position Property Group, LLC. The company is franchising. For more information, contact Greg Blandford, Position Property Group, LLC, 18900 Dallas Parkway, Suite 125, Dallas, TX 75287; 214-440-4147; Email: greg@positionpropertygroup.com; Web site: www.positionpropertygroup.com. Parlour Enterprises trades as Farrell’s Ice Cream Parlour at six locations throughout CA. The ice cream shops occupy spaces of 5,000 sq.ft. to 7,500 sq.ft. in freestanding locations. Plans call for three to 10 openings throughout the western region of the U.S. during the coming 18 months. For more information, contact Paul Kramer, Parlour Enterprises, 23 Rancho Circle, Lake Forest, CA 92630; 949-481-7676; Email: p.kramer@farrellsusa.com. (continued on page forty)

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We are actively seeking to add new retail tenants and acquisitions to our existing portfolio. RETAIL AVAILABILITIES FLORIDA Flamingo Market Place | Pembroke Pines Bravo, 21st Century Oncology, Pizza Hut, Hear X 1200 SF – 15,000 SF FMS Corners | Pembroke Pines Subway 2600 SF Hollywood Palms | Hollywood Publix, Walgreens, Dade Medical 1500 SF – 4800 SF Shoppes at Margate | Margate Advance America, Carnival Supermarket Dollar Tree 1500 SF – 10,000 SF+ Shoppes at Pembroke | Pembroke Pines Michaels, Weight Watchers, Allstate 1300 SF – 10,000 SF SF NEW JERSEY Aviation Marketplace | Linden Target, Home Depot, ShopRite, AMC Theatres Edison Plaza | Edison ShopRite, Party Fair, Capital One Bank

Princeton Meadows | Plainsboro Asian Food Market, Subway 2000 SF

Cherry Valley Corners | West Hempstead Pet Supplies Plus, Payless Shoes, GameStop 2150 SF

Royal Plaza | East Windsor City Streets Café, Citi Financial, Allstate 1850 SF

Huntington Crossroads | Huntington Station H&R Block, Domino’s Pizza, Pollo Compare

NEW YORK Adams Commerce Plaza | Hauppauge Dunkin’ Donuts, The Grill Room, Blimpie 1200 SF Baldwin Square | Baldwin Best Buy, Applebee’s, CVS 14,500 SF Bay Shore Commons | Bay Shore Stop & Shop, Rent-A-Center, Retro Fitness 1450 SF – 8000 SF End Cap Bethpage Commons | Bethpage DMV, ProHealth Assoc., Dunkin’ Donuts, Wells Fargo HM 11,000 SF Divisible Bi-County Commons | East Farmingdale Meat Farms, Retro Fitness, Bethpage Federal Credit Union Bohemia Commons | Bohemia Giunta’s Meat Farm, AutoZone, CVS, Lucille Roberts 1200 SF

Kenmor Plaza | Seaford The Dollar Store, Gino’s Pizzeria Lake Shore Plaza | Lake Ronkonkoma Chase Bank, Pet Supplies Plus 1124 SF – 47,500 SF Supermarket Anchor Nanuet Mall South | Nanuet Shadow anchored by the new Shops at Nanuet Jenny Craig, Quest 2500 SF – 24,000 SF NY Avenue Stores | Huntington Station AutoZone, Carvel, Pharmacy Spring Valley Marketplace | Spring Valley Michaels, Bed Bath & Beyond, Christmas Tree Shops Tali Plaza of Nyack | Nyack Anchor/Redevelopment Subway, H&R Block 1339 SF – 4739 SF Waverly Corners | Holtsville Deli, Tanning, Pizza, Dunkin’ Donuts 900 SF – 2400 SF NYC | Various opportunities in all boroughs

Contact us today to set up an appointment at RECon in Las Vegas. Charles Hirsch | chirsch@milbrookproperties.com Tom LiPuma | tjlipuma@milbrookproperties.com Rubin Pikus | rpikus@milbrookproperties.com

42 Bayview Avenue | Manhasset, NY 1030 | T 516.869.1240 F 516.869.8576 | www.milbrookproperties.com


BUYERS AND SELLERS (continued from page twenty-four)

Pierce Hardy is selling surplus lumber facilities ranging from 4.6 acres to 24.78 acres throughout CA, FL, IL, MI, MO, MS, NJ, OH, OR, TX and VA. For more information, contact Pierce Hardy, 1019 Route 519, Building 5, Eighty Four, PA 15330; 724-228-3636; Web site: www.pierce-hardy.com. McCollom Realty is selling three Dollar General properties in Chrisman and Heyworth, IL and Kentland, IN totaling 22,100 sq.ft. The aggregate asking price for the properties is $1.56 million. For more information, contact McCollom Realty, 1010 Lake Street, Suite 503, Oak Park, IL 60301; 708-383-6450; Web site: www.mccollomrealty.com. Reliable Properties is acquiring stabilized, rehab or vacant centers and/or retail buildings nationwide. For more information, contact Reliable Properties, 6399 Wilshire Boulevard, Suite 604, Los Angeles, CA 90048; 323-653-3777; Web site: www.reliableproperties.com. Urstadt Biddle Properties, Inc. is acquiring neighborhood and community shopping centers throughout Fairfield County, CT; Bergen County, NJ and Putnam and Westchester counties in NY. Grocery-anchored sites are strongly preferred. Suitable properties will be around 50,000 sq.ft. and priced at $4 million and up. For more information, contact James Aries, Urstadt Biddle Properties, Inc., 321 Railroad Avenue, Greenwich, CT 06830; 203-8688224; Email: jaries@ubproperties.com.

Hutensky Capital Partners is looking to acquire retail properties with a minimum GLA of 75,000 sq.ft., throughout major markets nationwide. Sites of interest include neighborhood, community and specialty retail centers, with a focus on supermarket or big-box anchors. The company is primarily seeking value-added/turnaround opportunities, while core-plus opportunities will also be considered. For more information, contact Hutensky Capital Partners, 100 Constitution Plaza, Seventh Floor, Hartford, CT 06103; Web site: www.hcpfund.com. ARC Properties, Inc. is looking to acquire retail and net lease properties priced between $1 million and $100 million nationwide, specifically throughout the NY to Washington, DC corridor. The company is also seeking to acquire land for retail netlease properties, retail or mixed-use sites between one to 100 acres throughout the New York, NY to Washington, DC corridor area, as well as throughout FL. For more information, contact Robert Ambrosi, ARC Properties, Inc., 1401 Broad Street, Clifton, NJ 07013; 973-249-1000; Email: rambrosi@arcproperties.com. Web site: www.arcproperties.com. Wheeler Real Estate Investment Trust is looking to acquire retail properties throughout the east coast, southern and southwestern regions of the U.S. Preferred sites have a GLA of 50,000 sq.ft. to 300,000 sq.ft. with mix of regional and national tenants. For more information, contact Wheeler Real Estate Investment Trust, 2529 Virginia Beach Boulevard, Virginia Beach, VA 23452; 757-627-9088; Web site: www.whlr.us.

McCollom Realty is selling three Dollar General properties in Chrisman and Heyworth, IL and Kentland, IN totaling 22,100 sq.ft. The aggregate asking price is $1.56 million. Page 28 | May 23, 2014

Colliers International is selling Roberts Crossing, a 78,000 sq.ft. neighborhood shopping center located in Columbus, OH. The site is situated on 9.2-acres and is 92% occupied with current tenants including Edward Jones, Lucky’s Grille, Big Lots and Planet Fitness. The company also negotiated the sale of Village East Shopping Center, a 136,249 sq.ft. center located in Salem, OR. The property was acquired for $17.5 million. For more information regarding Roberts Crossing, contact Kevin James, Colliers International, Two Miranova Place, Suite 900, Columbus, OH 43215; 614-410-5615; Email: kevin.james@colliers.com. For more information regarding Village East Shopping Center, contact Paul Sleeth, 601 Union Street, Suite 5300, Seattle, WA 98101; 206223-1266; Email: paul.sleeth@colliers.com. Goodman Real Estate Services Group, LLC is selling a 4,592 sq.ft. Fazoli’s NNN ground lease along West 2nd Street in Grand Island, NE. Area retailers include Super Saver grocery store, Ace Hardware, Walgreen’s, McDonald’s, Burger King and Subway. The tenant has approximately four years remaining on a 20-year ground lease. The asking price is $579,000 with a Cap rate of 9.25% on the existing income. For more information, please contact Kyle Hartung, Goodman Real Estate Services Group, LLC, 25333 Cedar Road, Suite 305, Cleveland, OH 44124; 216381-8200; Fax: 216-381-8211; Email: kyle@goodmanrealestate.com. U.S. Properties Group is seeking to acquire value-add neighborhood and regional power shopping centers in mid to small markets throughout the Midwest, southeastern and southwestern regions of the U.S. Preferred sites have a minimum GLA of 135,000 sq.ft. and asking prices ranging from $2.5 million to $500 million. For more information, contact U.S. Properties Group, 3665 Fishinger Boulevard, Hilliard, OH 43026; 614-472-2901; Web site: www.uspginc.com. Rosano Partners is selling a 13,000 sq.ft. building located along Van Nuys Boulevard in Van Nuys, CA. Area demographics include a population of 762,538 within five miles earning $73,054 as the average household income. The asking price is $3.8 million. For more information, contact James Cho, Rosano Partners, 700 South Flower Street, Suite 2920, Los Angeles, CA 90017; 213802-0232; Email: jcho@rosanopartners.com. (continued on page thirty-two)

Dealmakers Magazine | www.dealmakers.net


NEW CONSTRUCTION (continued from page eighteen)

LMS Commercial Real Estate – Retail Brokers Network Member - is preleasing phase two of Village Commons, a 39,176 sq.ft. mixed-use development located at the intersection of Miller Road and Route 72 in East Petersburg, PA. Spaces of 7,500 sq.ft. are available. Cotenants include U.S. Postal Services, Radiance Nails, Susquehanna Style and BBQ & Burrito Shop. Area demographics include a population of 146,591 within a five-mile radius earning $57,882 as the average household income. The average daily traffic count is 19,000 vehicles.

For more information, contact Wilay Boensch, LMS Commercial Real Estate, 120 North Pointe Boulevard, Suite 301, Lancaster, PA 17601; 717-569-9373, Fax 717-560-9909; Email: wboensch@lms-pma.com; Web site: www.lms-pma.com. Jaz Development, LLC is proposing the development of a shopping center situated on 66 acres at the intersection of U.S. 278 and SC 46 in Bluffton, SC. For more information, contact Jaz Development, LLC, PO Box 299, Angolo, IN 46703; 630-235-4022; Web site: www.jazdevelopment.com.

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Equity Retail Brokers – Retail Brokers Network Member - is preleasing a site, situated on two acres, and located at the exit of Route 42 at Hurfville Road in Deptford, NJ. Up to three pad sites are available. Area retailers include Deptford Mall, Macy’s, Target, BJ’s Wholesale Club, Bed Bath & Beyond, Staples, Toys “R” Us and A.C. Moore. Area demographics include a population of 416,298 within five miles earning $80,099 as the average household income. The asking rent is $30 psf NNN with a CAM of $5 psf. For more information, contact George Wisnoski, Equity Retail Brokers, 101 West Elm Street, Suite 370, Conshohocken, PA 19428; 484-417-2220; Email: gwisnoski@equityretailbrokers.net. Inner Vision Development Corp. is developing a mixed-use center, situated on a 1.4-acre site, just south of South Third Street and East Butler Avenue in Memphis, TN. Plans call for a 10,573 sq.ft. two-story building, featuring a cyber café, deli, a welcome center and convenience store. For more information, contact Inner Vision Development Corp.; 865-560-2752, Fax 865-560-2703; Web site: www.ivdc.com.

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RD Management, LLC is preleasing Home Depot Shopping Center, a 221,171 sq.ft. development located at the intersection of Lehigh Street and Route 78 in Allentown, PA. Home Depot anchors the center. Area demographics include a population of 323,275 within seven miles earning $70,870 as the average household income. For more information, contact Thomas Mirandi, RD Management, LLC, 810 Seventh Avenue, 10th Floor, New York, NY 10019; 212-265-6600 Ext. 239; Email: tmirandi@rdmanagement.com. DM

AutoZone, a publicly-traded Fortune 500 company, is the #1 auto parts retailer in America. We have over 4,800 stores in 49 states, the District of Columbia and Puerto Rico in the U.S., over 360 stores in Mexico, and have recently opened in Brazil.

✓ GROWING STRONG… Over 5,200 stores, and we open more every week ✓ STORES THAT ARE 100% COMPANY OWNED AND OPERATED… No franchises ✓ FINANCIALLY DISCIPLINED… We make the right decisions to protect our shareholders ✓ RELIABLE… Whether purchase money or rent, our funds will be there…on time, every time For site criteria and contact information go to www.autozonerealestate.com or simply use your smartphone to scan the QR code ©2014 AutoZone, Inc. All Rights Reserved. AutoZone and design are registered marks of AutoZone Parts, Inc.

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Courtelis Co. is preleasing phase two of Vicenza Plaza, a development situated on 10 acres at the intersection of Hialeah Gardens Boulevard and Okeechobee Road in Hialeah Gardens, FL. A space of 4,500 sq.ft. is available, along with an outlot of 4,195 sq.ft. Goodwill Superstore anchors the center and cotenants include Walmart Neighborhood Market and Party City. Area demographics include a population of 326,510 within five miles earning $55,777 as the average household income. The average daily traffic count is 28,000 vehicles. For more information, contact Rod Castan, Courtelis Co., 703 Waterford Way, Suite 800, Miami, FL 33126; 305-261-4330, Fax 305-261-4338; Email: rcastan@courtelis.com; Web site: www.courtelis.com.

1

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BUYERS AND SELLERS (continued from page twenty-eight)

Progressive Real Estate Partners negotiated the sale of San Dimas Retail Center in San Dimas, CA. The 21,016 sq.ft. shopping center is 100% occupied and tenants include Sears Appliance Center, Sherwin-Williams and T-Mobile. Area retailers include Target, Lowe’s, T.J. Maxx, Stein Mart and Aaron Brothers. The property was acquired for $4.8 million. The company represented the buyer and the seller in the transaction. For more information, contact Paula Dempsey, Progressive Real Estate Partners; 909-373-7059; Email: pauladempsey4@gmail.com.

Time Equities, Inc. recently acquired Somersville Towne Center, a 283,289 sq.ft. shopping mall located along Somersville Road in Antioch, CA. The site is anchored by Macy’s, Sears and Fallas with cotenants including Starbucks Coffee, Champs Sports, Forever 21, Victoria’s Secret, Bath & Body Works, 24 Hour Fitness and Foot Locker. The property was acquired for $12.3 million. For more information, contact Time Equities, Inc., 55 Fifth Avenue, 15th Floor, New York, NY 10003; 212-2066000, Fax 212-727-0563; Web site: www.timeequities.com.

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EXP Realty Advisors, Inc. is selling a 4,475 sq.ft. Panera Bread situated on a 0.86-acre lot at the intersection of Houston Beltway 8 and Wallisville Road in Houston, TX. Area retailers include Lowe’s Home Improvement, JC Penny, Best Buy, Staples, Marshalls and Party City. The company is also selling a La-Z-Boy and Pro Fitness site in Warwick, RI. The asking price is $3.2 million with a Cap rate of 8.15%. Area retailers include Target, Home Depot, Walmart, Stop & Shop and Sam’s Club. For more information regarding Panera Bread, contact Joe Caputo, EXP Realty Advisors, Inc.; Email: joe@exp1031.com. For more information regarding La-Z-Boy and Pro Fitness, contact Daniel de Sa’; 212972-3947; Email: dan@exp1031.com. Gumberg Asset Management Corp. is seeking to acquire malls and community shopping centers in mid-size retail markets nationwide. Preferred sites include multianchored centers of at least 200,000 sq.ft. For more information, contact Gumberg Asset Management Corp., 3200 North Federal Highway, Ft. Lauderdale, FL 33306; 954-537-2700. Namdar Realty Group is selling Peppertree Commons, a 35,882 sq.ft. neighborhood center located along Jericho Turnpike in Commack, NY. The shopping center is 63% occupied and tenants include Anthony’s Coal Fired Pizza and Pearle Vision. The asking price is $8.3 million with a Cap rate of 10%. For more information, contact Brandon Hakimi, Namdar Realty Group, 150 Great Neck Road, Great Neck, NY 11021; 516-773-0010 Ext. 111; Email: brandon@namdarrealtygroup.com. Cedar Realty Trust, Inc. recently acquired Quartermaster Plaza, a 456,000 sq.ft. shopping center located in south Philadelphia, PA. The site is anchored by BJ’s Wholesale Club. The property was acquired for $92.3 million. For more information, contact Cedar Realty Trust, Inc., 44 South Bayles Avenue, Port Washington, NY; 516-767-6492; Web site: www.cedarrealtytrust.com. Kin Properties is looking to acquire single tenant or freestanding retail properties, and anchor buildings or outlots of malls and shopping centers. For more information, contact Kin Properties, 185 Northwest Spanish River Boulevard, First Floor, Boca Raton FL 33431; Web site: www.kinproperties.com. (continued on page sixty-four)

Page 32 | May 23, 2014

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WHO’S OPENING AND WHERE (continued from page twenty)

Gap, Inc. (650-952-4400) is planning to open seven Athleta stores during the summer and fall spanning from Seattle, WA to Boston, MA, with plans to operate 50 locations by the end of 2015. The company offers apparel, footwear and accessories for men, women and children and also operates under the trade-names Old Navy, Gap, Banana Republic, Piperlime and Intermix. Buffalo Wild Wings, Inc. (716-843-3908) is planning to operate 1,700 Buffalo Wild Wings restaurants nationwide and in Canada by 2019. The company currently operates 434 company owned locations and 558 franchised restaurants throughout North America, and also operates under the tradename Bagger Dave’s. Brand Group, Inc. (513-542-5425) plans to open 300 new and remodeled franchised Baskin Robbins locations during the next several years. Chocolaterie Stam (515-282-9575) is planning to open three to four locations throughout the rest of the year. The chain of chocolate shops currently operates nine locations throughout the Midwestern region of the U.S. Smashburger (303-633-1500), through a franchisee, is planning to open six restaurants throughout central OH, including an opening near Ohio State University. Signet Jewelers, Ltd. (330-668-5000) is planning to open 75 to 85 Kay Jewelers and Jared the Galleria of Jewelry stores over the course of the next year.

BPS Direct, LLC (800-227-7776) is planning to open a 142,000 sq.ft. Bass Pro Shops Outdoor World store at the site of a former Lowe’s Home Improvement in south Tacoma, WA during the fall. It will be the company’s first location in the northwestern region of the U.S. The chain, offering hunting, fishing and camping gear, outdoor apparel and accessories, currently operates more than 84 locations nationwide and in Canada. Pita Pit (613-546-4494), through a franchisee, is looking to open 10 locations throughout Cleveland and Toledo, OH. The company currently operates 200 locations nationwide and more than 450 restaurants worldwide. Uncle Maddio’s Pizza Joint (404-929-6700) has plans to develop 34 restaurants this year, with 175 additional units opening through franchisees. The chain currently operates 19 pizzerias throughout six states. Cranium Academy (407-294-6950) plans to open franchised private schools, serving two-year-old children up to fifth grade, throughout FL, with a focus on Jacksonville, Orlando and Tampa. Francesca’s Holdings Corp. (800-980-1180) is planning to open additional Francesca’s stores this year. The company offers jewelry, handbags, footwear and apparel for women at locations nationwide. GRILLiT, Inc. (305-264-7600), through franchisee Texas Expansion Wing Group, LLC, is planning to expand throughout NV. The chain of Latin-Caribbean fusion restaurants offers salads, wraps, rice bowls and pasta.

The Melting Pot Restaurants, Inc. (800-7830867), through a franchisee, is planning to open Burger 21 restaurants throughout Phoenix, AZ. The company currently operates 12 Burger 21 locations throughout FL, GA, NC, NJ and VA, and also operates under the trade-name The Melting Pot at 135 locations nationwide. Whole Foods Market, Inc. (512-477-4455) is planning to open a 40,000 sq.ft. Whole Foods grocery store at the site of a former Fitworks Gym and Fitness Center along Detroit Road in Rocky River, OH during 2015. The chain, offering organic and natural food items, currently operates more than 373 specialty supermarkets nationwide, as well as in Canada and the United Kingdom. Golfsmith International (800-813-6897) is planning to open eight Golfsmith stores throughout the U.S. this year. The company, offering golfing accessories and apparel, also operates under the trade-name Golf Town. PFIP, LLC (603-750-0001) is planning to open 14 to 18 Planet Fitness gyms throughout MN during the coming several years. The company currently operates 750 locations nationwide. Natural Markets Food Group (914-4727900) is planning to open 20 Mrs. Green’s Natural Market locations throughout the northeast and Midwestern regions of the U.S. this year. Push Pedal Pull (888-861-8978) is planning to open five fitness facilities throughout AR, KS and MO. Charter Fitness (888-827-9262) is planning to open 11 fitness centers throughout the Kansas City, KS metropolitan area. The chain currently operates 35 locations. Fields Foods (314-241-3276) is planning to open six supermarkets over the next several years, in addition to as many as 24 locations over the next five years throughout St. Louis, MO and the surrounding regions. Easygates (888-528-3279), through a franchisee, is planning to open Easyhome stores in select markets of IL and IN. The chain, based in Canada, offers customers lease-toown furniture, appliances and electronics.

Golfsmith is planning to open eight stores throughout the U.S. this year. Page 34 | May 23, 2014

Rally House (800-645-5394) plans a location in Livonia, MI during The sports apparel chain currently locations throughout KS, MO, NJ, and TX. DM

to open the fall. operates OH, PA

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HOME-RELATED CHAINS EXPAND NATIONWIDE Lowe’s Home Improvement operates more than 1,830 locations nationwide and in Canada and Mexico. The stores, offering tools, hardware, electrical and plumbing supplies, outdoor products and building materials, occupy spaces of 132,000 sq.ft. in freestanding locations and shopping centers. Growth opportunities are sought throughout AZ during the coming 18 months, with representation by Velocity Retail Group. Mattress Firm operates more than 1,400 locations nationwide in 33 states. The stores, offering mattresses and related accessories, occupy spaces of 3,500 sq.ft. to 4,000 sq.ft. in endcaps of shopping centers and prominent street front locations. Growth opportunities are sought throughout AZ, ID and UT during the coming 18 months, with representation by Velocity Retail Group. For more information regarding Lowe’s Home Improvement, contact Darren Pitts, 2415 East Camelback Road, Suite 400, Phoenix, AZ 85016; 602-682-6060, Fax 602682-8010; Email: darren.pitts@velocityretail.com; Web sites: www.velocityretail.com and www.lowes.com. For more information regarding Mattress Firm, contact Darren Pitts or Michael Clark, 602-682-6075; Email: michael.clark@velocityretail.com; Web site: www.mattressfirm.com.

Leslie’s Swimming Pool Supplies operates more than 800 locations nationwide in 35 states. The stores, offering swimming pool supplies and related products and accessories, occupy spaces of 2,600 sq.ft. to 3,000 sq.ft. in freestanding locations, malls, power and strip centers, as well as urban/downtown areas. Growth opportunities are sought throughout FL during the coming 18 months, with representation by Atlantic Retail Properties. For more information, contact Thomas Godino or Noah Jones, Atlantic Retail Properties, 1001 North US Highway One, Suite 600, Jupiter, FL 33477; 561-427-6699 Ext.1012/1018; Emails: tgodino@atlanticretail.com and njones@atlanticretail.com; Web site: www.atlanticretail.com.

include a population of 15,000 within two miles earning $50,000 as the average household income. For more information, contact Robert Massengill, Westlake Hardware, Inc., 14000 Marshall Drive, Lenexa, KS 66215; 913-888-0808, Fax 913-888-2153; Email: bmassengill@westlakehardware.com; Web site: www.westlakehardware.com Tuesday Morning operates more than 820 locations nationwide. The stores, offering bedroom and bathroom accessories, furniture, luggage, rugs, lamps, seasonal merchandise, dinnerware and outdoor products, occupy spaces of 12,000 sq.ft. to 20,000 sq.ft. in various retail settings. Growth opportunities are sought throughout NV during the coming 18 months, with representation by R.O.I Commercial Real Estate. Typical leases run 10 years. Major competitors include Stein Mart. For more information, contact Brian Sorrentino, R.O.I. Commercial Real Estate, 7100 West Smoke Ranch Road, Suite 100, Las Vegas, NV 89128; 702-363-3100, Fax 702-363-0450; Email: brian@roicre.com; Web sites: www.roicre.com and D www.tuesdaymorning.com. M

Westlake Hardware, Inc. trades as Westlake Hardware at 89 locations throughout IA, KS, MO, NE, NM, OK and TX. The home improvement stores occupy spaces of 20,000 sq.ft. in freestanding locations and strip centers. Growth opportunities are sought throughout the existing markets during the coming 18 months. Typical leases run five years. Preferred cotenants include drug stores and supermarkets. Preferred demographics

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ONE OR MORE OF OUR OFFICES OR INDIVIDUALS ARE MEMBERS OF:

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Page 36 | May 23, 2014

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SEEKING SHOPPING CENTERS ACROSS THE U.S. RENOVATING REAL ESTATE. REVITALIZING COMMUNITIES.

4 1 0 2 n i 0 0 0 , 0 0 0 , 0 0 1 $ e r i u Must acq

BUYING RETAIL PROPERTIES COAST TO COAST VALUE ADD CENTERS GREATER THAN 100,000 SF

Meet Gord Wiebe at RECon • May 18-20

403-923-4343 • gwiebe@uspginc.com


SUPERMARKET CHAINS EXPAND NATIONWIDE Grocery Outlet, Inc. trades as Grocery Outlet Bargain Market at 206 locations throughout CA, ID, NV, OR, PA and WA. The supermarkets occupy spaces of 15,000 sq.ft. to 20,000 sq.ft. in freestanding locations, specialty, strip and value centers. Plans call for 35 openings throughout San Diego and northern CA; ID; NV; OR; Philadelphia and central PA and WA during the coming 18 months. Typical leases run five to 10 years. Preferred demographics include a population of 10,000 within three miles earning $50,000 as the average household income. Major competitors include Walmart Supercenter. A land area of two acres is required for

freestanding locations. The company will also consider acquiring sites and trades as Amelia’s Grocery Outlet throughout PA. For more information, contact Marc Drasin, Grocery Outlet, Inc., 2000 5th Street, Berkeley, CA 94710; 510-704-2819, Fax 510-649-1484; Email: mdrasin@cfgo.com; Web site: www.groceryoutlet.com. C & K Market, Inc. trades as Ray’s Food Place, Shop Smart and C & K Market at more than 44 locations throughout CA and OR. The supermarkets occupy spaces of 20,000 sq.ft. to 46,000 sq.ft. in freestanding locations and strip centers. Growth opportunities are

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sought throughout the existing markets during the coming 18 months. Typical leases run 20 years with two, five-year options. A vanilla shell is required. Preferred demographics include a population of 20,000 within five miles. Major competitors include Safeway. For more information, contact Kevin Crumley, C & K Market, Inc., 615 Fifth Street, Brookings, OR 97415; 541-469-3113, Fax 541-469-6717. Brookshire Grocery Co. trades as Brookshire Food Stores and Super 1 Stores at 153 locations throughout AR, LA and eastern TX. The supermarkets, featuring deli, produce, health and beauty and floral departments, as well as a pharmacy, occupy spaces of 30,000 sq.ft. to 58,000 sq.ft. in freestanding locations, power and strip centers. Growth opportunities are sought throughout southern AR, LA and eastern TX during the coming 18 months. Typical leases run 15 to 20 years. Major competitors include Albertsons, Kroger and Walmart Supercenter. A land area of five to seven acres is required for freestanding locations. The company prefers to acquire sites. For more information, contact John Broderhausen, Brookshire Grocery Co., 1600 West Southwest Loop 323, Tyler, TX 75701; 903-534-3000, Fax 903-534-2217; Web site: www.brookshires.com. The Kroger Co. (Cincinnati/Dayton Division) trades as Kroger at 114 locations throughout IN, KY and OH. The supermarkets, featuring deli, bakery, seafood, floral and wine and beer departments, occupy spaces of 60,000 sq.ft. to 135,000 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 Monte Chesko, The Kroger Co. (Cincinnati/ Dayton Division), 130 Tri County Parkway, Suite 324, Cincinnati, OH 45246-3217; 513-782-3423, Fax 513-782-8426; Email: monte.chesko@kroger.com; Web site: www.kroger.com.

116 Route 22, North Plainfield, New Jersey 07060 (908) 668 - 9600 | www.jefferyrealty.com All information is from sources deemed reliable and is submitted subject to errors, omission, change of price, terms, proper sales and withdrawal.

Page 38 | May 23, 2014

Shop Rite operates more than 250 locations throughout CT, DE, MD, NJ, NY and PA. The supermarkets occupy spaces of 25,000 sq.ft. to 75,000 sq.ft. in strip centers. Growth opportunities are sought throughout Fairfield County, CT during the coming 18 months, with representation by Royal Properties, Inc. For more information, contact Jeff Kintzer, Royal Properties, Inc., 850 Bronx River Road, Bronxville, NY 10708; 914-2373403 Ext. 103, Fax 914-237-0196; Email: jeff@royalpropertiesinc.com; Web site: D www.royalpropertiesinc.com. M Dealmakers Magazine | www.dealmakers.net


Mixed-Use Office

Retail

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The Levee District East Peoria, IL Grand Prairie Developments Peoria, IL

Streets of St. Charles Metro St. Louis, MO

Quincy Mall Quincy, IL

Experience. Strength. Stability. Build on our Experience and Reputation For more than 20 years, Cullinan Properties, Ltd. has been a leading provider of commercial and mixed-use real estate services. We’ve built our reputation on strong relationships and successful projects, and although the market has changed our commitment to excellence remains the same. Let us show you how we turn real estate plans into reality with almost $1 billion in successful real estate projects completed to date.

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FOOD CHAINS EXPAND NATIONWIDE (continued from page twenty-six)

L&L Franchise, Inc. trades as L&L Hawaiian Barbecue and L&L Hawaiian Grill at 190 locations throughout AK, AZ, CA, CO, HI, NY, OR, TX, UT and WA. The restaurants occupy spaces of 1,200 sq.ft. to 1,500 sq.ft. in power and strip centers near universities and military bases. Plans call for 30 openings nationwide during the coming 18 months. Typical leases run five years with a five-year option. Specific improvements are required. Preferred cotenants include Costco, Sam’s Club, Target and Walmart. Preferred demographics include a population of 50,000 within three miles earning $65,000 as the average household income. The company is franchising. For more information, contact Josie Akana, L&L Franchise, Inc., 931 University Avenue, Suite 202, Honolulu, HI 96826; 808-951-9888, Fax 808-951-0888; Email: franchising@hawaiianbarbecue.com; Web site: www.hawaiianbarbecue.com. Culver Franchising System, Inc. trades as Culver’s at 500 locations throughout AK, AZ, CO, FL, IA, ID, IL, IN, KS, KY, MI, MN, MO, NC, ND, NE, OH, SC, SD, TN, UT, WI and WY. The restaurants, offering burgers, sandwiches and frozen custard, prefer to occupy spaces of 4,000 sq.ft. to 5,000 sq.ft. in freestanding locations. Growth opportunities are sought throughout existing markets during the coming 18 months. For more information, contact Dave O’Brien, Culver Franchising System, Inc., 1240 Water Street, Prairie Du Sac, WI 53578; 608-644-2639; Fax: 608-644-2163; Email: realestate@culvers.com; Web site: www.culvers.com.

Little Caesars operates locations nationwide. The pizzerias occupy spaces of 1,500 sq.ft. to 1,700 sq.ft. in freestanding locations and endcaps of shopping centers. Plans call for two openings in central VA during the coming 12 months with representation by Colliers International. The company prefers sites with a drive-thru. Preferred cotenants include grocery stores. Preferred demographics include a population of 25,000 within three miles. Sonic Drive-In operates more than 3,500 locations nationwide. The restaurants occupy freestanding locations on a land area of 0.6 to one acre. Plans call for two openings throughout central VA during the coming 12 months, with representation by Colliers International. Preferred average daily traffic counts include 15,000 vehicles. Preferred demographics include a population of 25,000 within three miles. For more information, contact Susan Jones, Colliers International, 6606 West Broad Street, Suite 400, Richmond, VA 23230; 804-788-1000, Fax 804-7821145; Email: susan.jones@colliers.com; Web site: www.littlecaesars.com and www.sonicdrivein.com. Social Life Pizza operates two locations in CA and NV. The pizzerias prefer to occupy spaces of 2,200 sq.ft. to 2,500 sq.ft. in endcaps of strip centers and urban/downtown locations. Plans call for six to 12 openings throughout AZ, CA, ID, NV, OR, UT and WA during the coming 18 months. The company prefers locations with patio seating. For more information, contact David LeMons, Social Life Pizza, 15149 Woodlawn Avenue, Tustin, CA 92780; 760-518-1400; Email: davidklemons@yahoo.com; Web site: www.sociallifepizza.com.

Culver’s is seeking growth opportunities throughout select markets in the U.S. during the coming 18 months. Page 40 | May 23, 2014

Carved Rotisserie is an emerging concept. The fast-casual restaurants will occupy spaces of 1,400 sq.ft. to 2,200 sq.ft. in urban/ downtown areas. Growth opportunities are sought throughout New York, NY during the coming 18 months, with representation by Winick Realty Group. Desi Shack operates a location in New York, NY. The Asian-inspired restaurant prefers to occupy spaces of 600 sq.ft. to 1,500 sq.ft. in endcaps of shopping centers and urban/downtown areas. Growth opportunities are sought throughout the Financial District, Midtown, Flatiron, Union Square, Upper East Side and Upper West Side sections of New York, NY during the coming 18 months, with representation by Winick Realty Group For more information, contact Joseph Isa, Winick Realty Group, 655 Third Avenue, Eighth Floor, New York, NY 10017; 212792-2647; Email: joseph@winick.com; Web site: www.winick.com. Fox & Hound Restaurant Group trades as Fox & Hound Pub & Grill and Bailey’s Pub & Grill at 89 locations throughout AL, AR, AZ, CO, GA, IL, IN, KS, LA, MI, MO, NC, NE, NJ, NM, OH, OK, PA, SC, TN, TX and VA. The restaurants prefer to occupy spaces of 7,500 sq.ft. to 10,000 sq.ft. in endcaps or inline spaces of shopping centers and freestanding locations. Plans call for one to two openings throughout the existing markets during the coming 18 months. The company requires a land area of 1.5 acres to two acres for freestanding locations. Typical leases run five to 10 years. A vanilla shell is required. Preferred demographics include a population of 100,000 within a threemile radius earning $55,000 as the median household income. For more information, contact Marc Buehler, Fox & Hound Restaurant Group, 19111 Dallas Parkway, Suite 120, Dallas, TX 75287; 316-201-4000; Email: realestate@fhrg.com; Web site: www.foxandhound.com. Pacific Bells trades as Taco Bell, Pizza Hut, Long John Silver’s and Buffalo Wild Wings at 100 locations throughout CA, OH, OR and WA. The restaurants occupy spaces of 2,500 sq.ft. to 7,500 sq.ft. in freestanding buildings. Growth opportunities are sought throughout the existing markets during the coming 18 months. For more information, contact Eric Simko, Pacific Bells, 111 West 39th Street, Suite A, Vancouver, WA 98660; 360694-7855 Ext. 116, Fax 360-694-7873; Email: esimko@pacificbells.com; Web site: www.pacificbells.com. (continued on page forty-eight)

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Great Leasing Opportunities. ALABAMA Flintridge Centre Fairfield, AL

Birmingham Market

NEW YORK East Meadow Commons

East Meadow, NY

SoHo

New York, NY

INDIANA First Diamond Plaza Evansville, IN

Griffith Park Plaza Griffith, IN

OHIO Canton Centre Canton, OH

Plaza Felbram Plaza North Northland Columbus, OH Felbram Plaza South K-Mart Plaza Indianapolis, IN Springfield, OH

MICHIGAN Cedar Village

PENNSYLVANIA Cedarbrook Plaza Greenfield Commons Wyncote, PA

Holland, MI

Southfield, MI

Philadelphia Market

Detroit Market

NEW JERSEY Botany Plaza

TENNESSEE Knoxville Commons

Clifton, NJ

Knoxville, TN

Proposed Development Ewing, NJ

WEST VIRGINIA K-Mart Plaza

NORTH CAROLINA Weirton, WV

Sycamore Square Fayetteville, NC

With over 5 Million Square feet of retail holdings,

we have available space for all needs including: • • • •

Great SUPERMARKET Backfill & New Locations Anchor & Junior Anchor Spaces Inline Stores Pad Sites & Ready Free Standing Buildings

Contact us: leasing@nassimirealty.com acquisitions@nassimirealty.com

MI

• • • • OH • IN • • WV• • TN AL

NY PA

• • NJ •••

NC

See Us at RECON Las Vegas, Booth #S-240 R Street in the South Hall Nassimi Realty, LLC 370 Seventh Avenue Suite 1600 New York, NY 10001

T: 212.643.8080 www.nassimirealty.com T: 800.521.5208 F: 212.643.2626 E: leasing@nassimirealty.com

The Dealmakers May 23, 2014


SOURCES OF FINANCING

Envoy NNN offers construction loans for up to 95%, bridge loans for up to 90% and gap financing for single-tenant and net-leased retail properties. The company also provides joint venture equity for build-to-suit, netleased assets nationwide. For more information, contact Ralph Cram, Envoy NNN; 847-239-7250; Email: rcram@envoynnn.com; Web site: www.envoynnn.com.

Retail Op p o r t u n i t i e s

to make your Mark in Bowie Median Household Income over $94,532 Average Household Income over $109,161 Bowie is one of the largest cities in Maryland. Bowie is also an excellent business location, easily accessed from Washington D.C., Annapolis and Baltimore. Bowie’s proximity to these major cities brings business and workforce into the area via Routes 3, 50 and 301. Bowie has more than 90 restaurants, 200 shops, and a dozen recreation opportunities. With this winning combination of location, access and amenities your business is certain to grow and succeed. For space available details call: Bowie Marketplace, Brian Berman, 301-816-1555 Bowie Plaza, Jack deVilliers, 703-442-4315 Bowie Town Center, Vincent Vettraino, 484-679-2388 Collington Plaza, Scott Faloni, 410-693-3248

Free State Shopping Center, Rich Abruscato, 301-998-8188 Hilltop Plaza – Newly Renovated! Bruce Levine, 410-486-0800 x116 Pointer Ridge Plaza, Jim Farrell, 571-382-1229 Shoppes at Bowie Town Center & Shoppes at Highbridge, Sean Weisbord, 410-771-1700

For more information on ALL of Bowie’s Opportunities, contact:

John Henry King,

Economic Development Director, City of Bowie, Maryland 15901 Excalibur Road, Bowie, MD 20716 301.809.3042 | fax 301.809.2315 | jhking@cityofbowie.org Page 42 | May 23, 2014

Meridian Capital Group, LLC negotiated $32.37 million in financing for five retail properties totaling 75,160 sq.ft. and located along Westchester Avenue, Grand Concourse, East Burnside Avenue and Morris Avenue in Bronx, NY. The loan features fiveyear terms and a rate of 3.63%. For more information, contact Jonathan Stern, Meridian Capital Group, LLC; 212972-3600, Web site: www.meridiancapital.com. Q10 Professional Mortgage of NC, LLC negotiated $1.5 million in financing for a 10,880 sq.ft. freestanding CVS in Carolina Beach, NC on behalf of First Fidelity Bank. For more information, contact Beth Harrelson, Q10 Professional Mortgage of NC, LLC, 8816 Six Forks Road, Suite 211, Raleigh, NC 27615; 919-841-5700; Email: bharrelson@profmortgagenc.com. Ackman-Ziff Real Estate Group, LLC negotiated $170 million in financing for a mixed-use site in New York, NY; $37 million for a retail center in Houston, TX; $91 million for a shopping center in Miami Beach, FL and $65 million for a retail center in Herndon, VA. For more information, contact AckmanZiff Real Estate Group, LLC, 110 East 42nd Street, 10th Floor, New York, NY 10017; 212-697-3333. Chartered Financial Group provides loans from $1 million to $100 million for retail, residential, industrial and medical properties. Loans feature rates of 3% to 5.75%; terms of three to 10 years and amortization rates of up to 30 years. For more information, contact Paul Honkavaara, Chartered Financial Group, 2197 East Christopher Avenue, Suite 100, Fresno, CA 93720; 559-323-1947; Email: paul@charteredfinancialgroup.com. CTL Capital, LLC provides loans for retail, hospital, industrial and residential properties. Loans start at $5 million. For more information, contact CTL Capital, LLC, 500 Fifth Avenue, 48th Floor, New York, NY 10110; 212-792-7860; Web site: www.ctlcapital.com. DM Dealmakers Magazine | www.dealmakers.net


QUALITY High Quality Grocery-Anchored Shopping Centers

Whether its redevelopment, property management, leasing or acquisitions, UBP makes sound, strategic decisions based on solid demographics, broad experience, and stable resources resulting one of the highest quality portfolios of assets in our industry.

GROWTH Exciting New Acquisition & Retail Opportunities

Year after year, UBP has consistently added well-located, quality shopping centers to our targeted portfolio, creating opportunities for investors and retailers alike. We seek additional grocery-anchored properties in communities surrounding New York City.

FOCUS NY Tri-State Market Area Dominance

UBP is a major grocery-anchored shopping center owner in the suburban Metro NY marketplace. UBP owns or has interests in 67 properties with a focus on Westchester, Putnam, Rockland and Nassau Counties, NY; Fairfield County, CT; and Bergen, Passaic and Essex Counties, NJ.

UBA UBP

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REAL ESTATE PROFESSIONALS MAKING THE NEWS Johnson Capital (469-364-7000) recently opened an office in Houston, TX. Ron Davis and Jason Pumpelly will oversee the new office. The company also hired Richard Knorr as vice president of the company’s Irvine, CA office. In his new role, Knorr will concentrate on commercial property investors and negotiating debt and equity financing. Previously, Knorr served as managing partner at IBC Capital. The company provides loans ranging from $1 million to $300 million for retail, industrial, office, multifamily and hotel properties. Levin Management (800-488-0768) recently hired Roy D. Vice as vice president of construction and development. In his new role, Vice will monitor the construction and development activities of the company’s 13 million sq.ft. portfolio. Prior to joining the company, Vice served as senior vice president and director of retail development at O’Neill Properties Group. The company also promoted Jake Frantzman to senior leasing representative. The company specializes in leasing, property management, accounting, construction management and marketing services. HFF (617-338-0990) recently hired Christopher Munley as managing director of the firm’s Philadelphia, PA office. In his new position, Munley will focus on retail investment sales throughout the Mid-Atlantic region. Prior to joining the company, Munley served at Marcus & Millichap. The company specializes in debt and equity placement, investment sales, loan sales, advisory and commercial loan services. The Zall Co. – Retail Brokers Network Member (303-804-5656) announced that Stacey Glenn has been awarded the International Council of Shopping Center Foundation John T. Riordan Professional Education Scholarship. The scholarship encourages the professional education and further career development of retail real estate professionals. Barnett Capital, Ltd. (847-656-1100) hired Michael Wieden as manager of the company’s real estate and distressed debt solutions platform. Prior to joining the company, Wieden served at Cohen Financial. The company specializes in real estate, distressed debt, lending and start-up business investment services. Michael Salove Co. (215-568-2600) hired Stacey Toseland as a marketing associate. (continued on page sixty-six)

Page 44 | May 23, 2014

LEASE SIGNINGS LMS Commercial Real Estate - Retail Brokers Network Member (717-569-9373) negotiated a lease with Tom + Chee for 2,400 sq.ft. at Overlook Town Center, a 28,547 sq.ft. shopping center located at the intersection of U.S. Route 30 and Route 283 in Lancaster, PA. David Nicholson and Jeremiah Hamilton of LMS Commercial Real Estate represented the landlord and Paul Fulmer of NAI Commercial Partners, Inc. represented the tenant in the transaction. The company also negotiated a lease with Tropical Smoothie Café at Millersville Commons, an 18,800 sq.ft. development located along Comet Drive in Millersville, PA. Jim Pointer of LMS Commercial Real Estate represented the landlord in the transaction. The company also negotiated a lease with FloorMax for 2,100 sq.ft. at Derry Street Properties, a 145,151 sq.ft. mixed-use center located along Derry Street in Harrisburg, PA. Wilay Boensch represented the landlord in the transaction. Royal Properties, Inc. (914-237-3403) negotiated a lease with Your Wireless for 2,100 sq.ft. along Route 23 in Wayne, NJ. The company represented the tenant, United Telecom USA, Inc., while Jason Gerbsman and David Townes of Welco Realty represented the landlord in the transaction. The company also negotiated a lease with Corner Bakery Café for 3,980 sq.ft. at The Shops at Nanuet, located along Route 59 in Rockland County, NY. Scott Meshil of Royal Properties, Inc. represented the tenant in the transaction. The Goldstein Group- Retail Brokers Network Member (201-703-9700) negotiated leases with Anthony’s Coal Fired Pizza for 3,100 sq.ft., 7-Eleven for 2,400 sq.ft., Chocolate Works for 2,000 sq.ft., 16 Handles for 1,200 sq.ft. and with Livingston Nail Studio for 3,480 sq.ft. at Livingston Town Center in Livingston, NJ. De Rito Partners, Inc.- Retail Brokers Network Member (480-834-8500) negotiated a lease with Crossfit Queen Creek for 3,336 sq.ft. at Queen Creek Crossroads, located at the intersection of Ellsworth Road and Rittenhouse Road in Queen Creek, AZ. Robert McKnight and Chris Corso of De Rito Partners, Inc. represented the landlord in the transaction. Cafaro (330-747-2661) negotiated a lease with DSW for 23,000 sq.ft. and with Ulta for 10,000 sq.ft. at Target Place Plaza, a 271,000 sq.ft. shopping center located along Harrison Avenue Northwest in Olympia, WA.

Taylor Long Properties (804-864-9788) negotiated the following leases throughout VA: with One Price Cleaner for 2,520 sq.ft. along north Courthouse Place in Richmond, with Brian Bock of Taylor Long Properties representing the landlord in the transaction; with River City Printing and Graphics for 900 sq.ft. at Laburnum Park, located along South Laburnum Avenue in Richmond, with Ellen Long, Heather Krauss and Brian Bock representing the landlord in the transaction; with Chesterfield Christian Care for 2,000 sq.ft. at Five Forks Shopping Center, located along Newbys Bridge Road in Chesterfield, with Ellen Long and Heather Krauss representing the landlord in the transaction; with Bella Luna for 3,600 sq.ft. at Hungarybrook Shopping Center, located along Concord Avenue in Richmond, with Ellen Long, Heather Krauss and Brian Bock representing the landlord in the transaction and with Pharris Restaurant Group for 1,400 sq.ft. along North Robinson Street in Richmond, with Clint Greene of Taylor Long Properties representing the tenant in the transaction. Levin Management (800-488-0768) negotiated a lease with Dave & Buster’s for 41,300 sq.ft. at Post Road Plaza, a 260,000 sq.ft. shopping center in Pelham Manor, NY. Michael Cohen of Levin Management represented the landlord, Post Road Plaza, LLC, while Tom Londres of Metro Commercial Real Estate and Hugh Kelly and Erin Grace of SRS Real Estate Partners represented the tenant in the transaction. The Westfield Group (415-486-3258) negotiated the following leases throughout CA: with Giorgio Armani, Balenciago, Zara and Mulberry at Westfield Valley Fair in Silicon Valley; with Lululemon Athletica at Westfield San Francisco Centre in San Francisco; with New Era at Westfield Galleria at Roseville in Sacramento and with 100% Pure Cosmetics, Lush and Mac at Westfield Oakridge in San Francisco. Douglas Elliman Real Estate (212-247-7940) negotiated a lease with YSB Salon along Frederick Douglass Boulevard, between 134th Street and 135th Street in central Harlem, NY. Faith Hope Consolo, Joseph Aquino and Arthur Maglio of Douglas Elliman Real Estate negotiated the transaction. Vestar (602-866-0900) negotiated leases with DSW for 20,000 sq.ft., Nordstrom Rack for 35,000 sq.ft. and with Total Wine & More for 20,000 sq.ft. at Tempe Marketplace, a 1.3 million sq.ft. open-air mall in Tempe, AZ. (continued on page forty-six)

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38 Years

1976-2014

RETAIL LEASING SPECIALISTS

“RJBCO’s willingness to listen, in conjunction with knowledge of the market, extensive market data and determined work ethic have resulted in a formula for success time and time again.” - ROB PAGANO | President Pagano Real Estate, Inc.

"I cannot begin to possibly explain how thrilled and pleased I am to have RJBCO on my team!" - MARYBETH MACK AAMCO Transmissions

RJ BRUNELLI & CO LLC.

400 PERRINE ROAD SUITE 405 OLD BRIDGE, NJ 08857 P. 732-721-5800 F. 732-721-9241 RJBRUNELLI.COM

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REcon 2014

MARKETING PARTNER

CREATIVE


LEASE SIGNINGS (continued from page forty-four)

Northgate Commercial Real Estate (209477-4400) negotiated four leases with KellyMoore Paint Company, Inc. through CA, including areas in Davis, Petaluma, San Francisco and Daly City. Cushman & Wakefield (212-841-7500) negotiated a lease with Destination XL for space along Sixth Avenue in the Chelsea neighborhood of Manhattan, NY. Brandon Singer and Joanne Podell of Cushman & Wakefield represented the tenant, Destination XL Group, Inc., and David LaPierre and Sean Moran of CBRE Group, represented the landlord in the transaction. Gershman Commercial Real Estate (314862-9400) negotiated the following lease renewals throughout MO: with Salon Joli & Spa, Ltd. for 2,250 sq.ft. at Ozark Trail, located along Ozark Trail in Ellisville; with Star Cleaners for 1,800 sq.ft. and with Creative Walking, Inc. for 1,746 sq.ft. at Manchester Plaza along Manchester Road in St. Louis; with Pacific Beach for 1,200 sq.ft. at Kennerly Center, located along Kennerly Road in St. Louis and with J.R. Cigars for 1,100 sq.ft. along North Central Avenue in Clayton. The company also negotiated a lease with Title Boxing Club for 3,360 sq.ft. along Manchester Road in Ballwin with Patty Kueneke of Gershman Commercial Real Estate representing the landlord, STL Ventures, LLC, and Gateway Commercial representing the tenant, Purple Monkey, LLC, in the transaction and with The Mail Box Store for 960 sq.ft. at Stonegate Center, located in Valley Park. Equity Retail Brokers - Retail Brokers Network Member (484-417-2225) negotiated a lease with Starbucks for 2,370 sq.ft. at a freestanding building along Route 42 in Turnersville, NJ. Rob Samtmann, Brian Wherty and Rich Zeller of Equity Retail Brokers represented the tenant in the transaction. Inter-Cal Real Estate Corp. (916-489-4600) negotiated leases with Sherwin-Williams for 4,000 sq.ft., with Kid’s Camp for 2,400 sq.ft., with Jackson Hewitt Tax Service and Farmers Insurance at Greenback Square, a 46,000 sq.ft. shopping center located along Greenback Lane, between Sunrise Boulevard and Fair Oaks Boulevard in Citrus Heights, CA. Garden Commercial Properties (973-4675000) signed leases with Starbucks, Qdoba, Anthony’s Coal Fired Pizza, European Wax, Noodles & Co., Massage Envy, Habit Burger and Cups Frozen Yogurt at Fair Lawn Promenade in Fair Lawn, NJ. Page 46 | May 23, 2014

S.L. Nusbaum Realty Co. (757-282-6505) negotiated the following leases throughout VA: with Dollar Delight for 2,800 sq.ft. at Jefferson Shoppes in Newport News, with Neal Sadler of S.L. Nusbaum Realty Co. representing the landlord in the transaction; with Minute Loan Center for 2,107 sq.ft. along Franklin Avenue in Gretna, with Chris Zarpas representing the tenant in the transaction; with Marcos Pizza for 1,550 sq.ft. along Virginia Beach Boulevard in Virginia Beach, with Michael Zarpas of S.L. Nusbaum Realty Co. representing the landlord in the transaction; with Field Martial Arts for 1,540 sq.ft. at Great Neck Village in Virginia Beach, with Neal Sadler representing the landlord in the transaction; with Little Caesars Pizza for 1,200 sq.ft. at Marketplace Shoppes in Williamsburg, with Tyler Jacobson of S.L. Nusbaum Realty Co. representing the landlord in the transaction; with Just Because Gifts for 900 sq.ft. at the Shoppes at College Park in Farmville, with Nathan Shor of S.L. Nusbaum Realty Co. representing the landlord in the transaction and with Nimbus Vapes for 750 sq.ft. at Princess One Shopping Center in Virginia Beach, with Murray Rosenbach of S.L. Nusbaum Realty Co. representing the landlord in the transaction. Konover South, LLC (954-354-8282) negotiated the following leases throughout FL: with Bonefish Grill for 5,276 sq.ft. at South Kendall Square, located along Southwest 120th Street in Miami; with Schmidt Optical for 5,000 sq.ft. and with Orangetheory Fitness for 3,452 sq.ft. at Stuart Centre, located along Southeast Federal Highway in Stuart; with Tomberg Farms for 1,391 sq.ft. at Delray Square, located along South Military Trail for Delray Beach and with Zikiye Tactic Nutrition for 1,074 sq.ft. at Shoppes of Inverrary, located along West Oakland Park Boulevard in Lauderhill. Neal Realty & Investments, Inc. (954568-0530) negotiated the following leases throughout FL: with AIO Wireless for 1,200 sq.ft. at Sunrise Shoppes, located along North University Drive in Sunrise, with the company representing the landlord in the transaction; with The Vapor Café for 900 sq.ft. and Wellness 4 Life for 900 sq.ft. at Tanglewood Plaza, located at the intersection of 96th Avenue and Pines Boulevard in Pembroke Pines, with the company representing the landlord in the transaction. First Western Properties (773-545-2000) negotiated a lease with D-Fashion Nails for space at a center along South Stony Island Avenue in Chicago, IL.

Goodman Real Estate Services Group (216381-8200) negotiated three leases with Zounds Hearing for locations in Brooklyn, Canton and Mayfield Heights in OH. The company represents the chain throughout northeastern OH. Michael Soloman of Goodman Real Estate Services Group represented the tenant in the transactions. Cushman & Wakefield | Thalhimer (804648-5881) negotiated the following leases throughout VA: with Shoppers World for 25,365 sq.ft. at Chesapeake Crossing located along South Military Highway in Chesapeake; with Mattress Firm for 4,500 sq.ft. along College Drive in Suffolk; with Crystal Cleen for 3,286 sq.ft. at Centerville Commerce Park along Centerville Turnpike in Virginia Beach; with Noodles & Co. for 2,813 sq.ft. in front of Patrick Henry Mall located along Jefferson Avenue in Newport News and with G-man Entertainment Music Group for 1,800 sq.ft. at Lynnhaven Commerce Park located along South Lynnhaven Road in Virginia Beach. Passov Real Estate Group (216-8318100) negotiated a lease with The Vitamin Shoppe for 2,500 sq.ft. at the intersection of Route 8 and Route 82 in Macedonia, OH. Steve Passov of Passov Real Estate Group represented the landlord in the transaction. The company also negotiated a lease with Lululemon along Detroit Road in Rocky River, OH. Steve Passov and Tori Nook of Passov Real Estate Group represented the landlord in the transaction. illi Commercial Real Estate (818-501-2212) negotiated leases with Hope of the Valley Rescue Mission for 14,345 sq.ft. along Soledad Canyon Road in Santa Clarita, CA, with Todd Nathanson, Adam Cather and Eric Friedland of illi Commercial Real Estate representing the landlord in the transaction and with Ace Cash Express for 1,120 sq.ft. along West Slauson Avenue in Los Angeles, CA with Eric Friedland of illi Commercial Real Estate representing the tenant in the transaction. Mid-America Real Estate – Michigan (630261-6962) negotiated a lease with Hopcat, a chain serving craft beers, for space along Woodward Avenue in the Midtown section of Detroit, MI. Adam Goodman and Tony Schmitt of Mid-America Real Estate Michigan, along with Chris Muller of M Retail Solutions, represented the tenant in the transaction. Reisenfeld & Co. (216-765-8080) negotiated leases with O’Reilly Auto Parts and Loan Max in Painesville, OH. (continued on page sixty-six)

Dealmakers Magazine | www.dealmakers.net


Owning and Operating Grocery Anchored Retail Centers Nationwide since 1979

Leasing OppOrtunities natiOnwide

ASHBROOK COMMONS Ashburn, VA 198,589 SF Power Center 1,048 SF Available

ARBORLAND CENTER Ann Arbor, MI 403,814 SF Power Center 6,396 - 14,420 SF Available

CLAYTON LANE - Denver, CO 335,064 SF Mixed-use Development in Cherry Creek North 4,627 SF Available

TIFFANY PLAZA - Denver, CO 214,411 SF Whole Foods Anchored Neighborhood Center 1,442 - 4,300 SF Available

BALLANTYNE COMMONS EAST Charlotte, NC 150,926 SF Harris Teeter Anchored 1,131 - 2,001 SF Available

HARMONY MARKETPLACE Fort Collins, CO 350,593 SF Power Center 1,201 - 2,000 SF Available

Please contact Ira Shwartz, Leasing Agent, for any potential opportunities. Acquisitions:

Jake Bisenius JBisenius@AmCap.com 203-327-2001

Corporate Headquarters: 1281 East Main Street Stamford, CT 06902 203-327-2001

www.AmCap.com

Denver Regional Office: 44 Cook Street #710 Denver, CO 80206 303-321-1500


FOOD CHAINS EXPAND NATIONWIDE (continued from page forty)

Chipotle operates 1,550 locations nationwide. The restaurants occupy spaces of 2,200 sq.ft. to 2,600 sq.ft. in endcaps of shopping centers and freestanding locations. Growth opportunities are sought throughout southeastern FL during the coming 18 months, with representation by The Shopping Center Group. For more information, contact Bryan Fetherston, The Shopping Center Group, 5201 Blue Lagoon Drive, Suite 550, Miami, FL 33126; 305-262-8877, Fax 305-2627180; Email: bryan.fetherston@tscg.com; Web site: www.chipotle.com. WRPC, Inc. trades as We’re Rolling Pretzel Co. at 37 locations throughout IN, KY, MI, OH, PA and WV. The pretzel shops prefer to occupy spaces of 200 sq.ft. to 1,000 sq.ft. in entertainment, value, specialty, lifestyle and outlet centers, as well as malls and tourist areas. Plans call for two to five openings nationwide during the coming 18 months. For more information, contact Kevin Krabill, WRPC, Inc., 2500 West State Street, PO Box 6106, Alliance, OH 44601; 330-823-0575, Fax 330-821-8908; Email: kkrabill@wererolling.com; Web site: www.wererolling.com.

Panda Express operates more than 1,500 locations nationwide and in Puerto Rico. The restaurants occupy spaces of 1,100 sq.ft. to 2,000 sq.ft. in power, specialty, strip and entertainment centers, freestanding locations and urban/downtown areas. Plans call for six to eight openings throughout northern CA during the coming 18 months, with representation by Terranomics Retail Services. A vanilla shell and specific improvements are required. Preferred cotenants include Target, Walmart and grocery stores. Preferred demographics include a population of 50,000 within two miles. For more information, contact Sharon Carmichael, Terranomics Retail Services, 1350 Bayshore Highway, Suite 900, Burlingame, CA 94010; 408-200-8811; Email: scarmichael@terranomics.com; Web site: www.terranomics.com. J&H Foods trades as Simple Simon’s Pizza at 192 locations throughout AL, AR, GA, IA, KS, LA, MO, MT, NM, OK, TN and TX. The pizzerias occupy spaces of 600 sq.ft. to 2,000 sq.ft. in freestanding locations, mixeduse and strip centers. Growth opportunities are sought throughout the Midwest and southwestern regions of the U.S. during the

coming 18 months. Typical leases run three years. A vanilla shell is required. Preferred demographics include a population of 2,000 within three miles earning $24,000 as the average household income. Major competitors include Pizza Pro, Gambino’s and Pizza Hut. For more information, contact Joe Little, J&H Foods, 6650 South Lewis Avenue, Tulsa, OK 74136; 918-496-1272, Fax 918493-6516; Email: info@simplesimon.com; Web site: www.simplesimonspizza.com. Baker’s Delight trades as Cobs Bread at 80 locations throughout Alberta, British Columbia and Ontario, Canada. The traditional-style bakeries occupy spaces of 1,000 sq.ft. in regional malls and strip centers. Growth opportunities are sought throughout Canada during the coming 18 months. Typical leases run five to 10 years. The company is franchising. For more information, contact John Gilson, Baker’s Delight, 210-369 Terminal Avenue, Vancouver, British Columbia, Canada, V6A 4C4; 604-296-3500, Fax 604-294-6400; Email: john.gilson@cobsbread.com; Web site: www.cobsbread.com. (continued on page sixty-two)

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See Courtelis Company at ICSC RECon, Booth S328 S St., for these hot leasing opportunities! www.courtelis.com | Call 305.261.4330 to book your appointment today Page 48 | May 23, 2014

Dealmakers Magazine | www.dealmakers.net


Serving the New Jersey and New York Retail Marketplace We Pride Ourselves In The Company We Keep*

Lingerie by Susan At Weiss Realty we understand the site selection process, from identifying the “prime” retail site location to zoning analysis, architectural and engineering studies, due diligence reporting and lease negotiations. To learn more about Weiss Retail Real estate services AND ARRANGE AN APPOINTMENT AT RECON CONTACT: Jaime M. Weiss • (C) 201/615-0474 • jweiss@jweissrealty.com Matthew B. Weiss • (C) 917/309-7861 • mweiss@jweissrealty.com *a partial list of Weiss Realty transactions

250 MOONACHIE ROAD, MOONACHIE, NJ 07074 • 201.814.1800 • WWW.JWEISSREALTY.COM


APPAREL CHAINS EXPAND NATIONWIDE (continued from page one)

during the coming 18 months. Typical leases run five years. Preferred demographics include a population of 100,000 within five miles earning $60,000 as the average household income. The company also trades as Catherines at 400 locations nationwide. The stores, offering plus-size casual and career apparel for women ages 45 years and up, 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. Maurices, Inc. trades as Maurices at 900 locations nationwide. The stores, offering dress, casual and career apparel and accessories for women in the 20 to 30-year age bracket, occupy spaces of 5,000 sq.ft. in malls, lifestyle, outlet, power, strip and community centers. Plans call for 70 openings nationwide during the coming 18 months. Preferred cotenants include JC Penney, Kohl’s, Macy’s, Target and Walmart. Preferred demographics include a market population of 25,000 to 150,000 earning an average household income of $50,000 to $100,000. Tween Brands, Inc. trades as Justice at 900 locations nationwide and in Puerto Rico and Canada. The stores, offering apparel and

accessories for girls ages seven to 13, occupy spaces of 4,200 sq.ft. in malls, lifestyle, outlet, power, strip and community centers. Plans call for 70 openings nationwide during the coming 18 months. The parent company for all concepts is Ascena Retail Group, Inc. For more information regarding dressbarn, contact Elise Jaffe, Dress Barn, Inc., 933 MacArthur Boulevard, Mahwah, NJ 07430; 551-777-6101; Email: elise.jaffe@dressbarn.com; Web site: www.dressbarn.com. For more information regarding Catherines, contact Jeffrey Parisian, 3750 State Road, Bensalem, PA 19020; Email: realestate@catherines.com. For more information regarding Lane Bryant, contact Jeffrey Parisian, 3344 Morse Crossing, Columbus, OH 43219; 614-4635200; Email: realestate@lanebryant.com; Web site: www.lanebryant.com. For more information regarding Maurices, contact Jeff Holmes, Maurices, Inc., 105 West Superior Street, Duluth, MN 55802; 218-720-2035; Email: jholmes@maurices.com; Web site: www.maurices.com. For more information regarding Justice, contact Alan Hochman, Tween Brands, Inc., 8323 Walton Parkway, New Albany, OH 43054; 614-775-3500; Email: ahochman@tweenbrands.com; Web site: www.tweenbrands.com.

Faconnable operates 17 locations throughout CA, CO, FL, GA, NY and TX, as well as internationally. The stores, offering better lines of apparel, footwear and accessories for men and women, occupy spaces of 3,000 sq.ft. in regional malls. Growth opportunities are sought throughout San Diego, CA; Chicago, IL; Boston, MA; NY; Houston, TX and in Washington, DC during the coming 12 months, with representation by The Greenberg Group. Preferred cotenants include luxury retailers including Burberry, Ferragamo, Saks Fifth Avenue, Neiman Marcus and Hermes. Ports 1961 operates 23 locations throughout CA and NY, in addition to Canada and internationally. The stores, offering better lines of men’s and women’s apparel, occupy spaces of 1,500 sq.ft. to 3,000 sq.ft. in upscale outlet centers. Growth opportunities are sought nationwide during the coming 12 months, with representation The Greenberg Group. For more information, contact Steven Greenberg, The Greenberg Group, 1200 West Broadway, Hewlett, NY 11557; 516-295-0406; Email: sgreenberg@thegreenberggroup.com; Web D site: www.thegreenberggroup.com. M

Relationships Built On Results Since 1986 Real Estate Brokerage • Property Management • Asset Repositioning • Retail Advisory Services

Page 50 | May 23, 2014

Dealmakers Magazine | www.dealmakers.net


ARIZONA’S

BROKERAGE ACQUISITIONS DEVELOPMENT LAND DEVELOPMENT PROPERTY MANAGEMENT

EXPERTS

EXPERIENCE THE DE RITO DIFFERENCE

AND SEE WHY WE ARE ARIZONA’S LARGEST RETAIL BROKERAGE FIRM! Today, our successful track record extends across the Valley of the Sun and reaches all corners of Arizona and beyond. We are one of the most respected leasing, property management, acquisition and development companies in the region. De Rito Partners’ signage identifies hundreds of neighborhood, community, lifestyle, power shopping centers, retail strip centers, single-tenant, retail-driven mixed-use properties, and auto parks. Our clients know they can consistently count on the De Rito Partners’ Platform to deliver superior results that maximize the value of their retail property expectations. Partner with the EXPERTS!

VISIT US AT ICSC

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IF YOU’RE PLANNING TO ATTEND CONTACT:

STAN SANCHEZ

PRESIDENT, BROKERAGE

stan.sanchez@derito.com

480-834-8500 | www.derito.com 3200 E. Camelback Road, Suite 175 | Phoenix, Arizona 85018


TENANT REPS AND LEASING ASSIGNMENTS Velocity Retail Group (602-682-6050) is representing Eureka! with its expansion plans throughout Old Town and North Scottsdale, Biltmore, Tempe and along the Camelback Road corridor in AZ. The concept, featuring a restaurant/bar and a live entertainment area, prefers to occupy spaces of 3,500 sq.ft. to 4,500 sq.ft. in areas with dense pedestrian traffic. CBRE (412-394-9840) is representing Crunch Fitness with its expansion plans throughout western PA, with a focus on Pittsburgh. The fitness centers occupy spaces of 15,000 sq.ft. to 20,000 sq.ft. in shopping centers.

Cushman & Wakefield (617-204-4150) has been appointed as the exclusive sales agent for Laburnum Park Shopping Center, a 61,860 sq.ft. community shopping center located in Richmond, VA. Gold’s Gym anchors the center, and the site is near The Shops at White Oak Village, a one-million sq.ft. development. Vanguard Realty Group (301-795-1454) is representing Salons by JC with its expansion plans throughout Vienna, Fairfax, Reston, Herndon, Sterling, Ashburn, Chantilly and Centreville, VA. The hair salons utilize spaces of 6,000 sq.ft. to 10,000 sq.ft.

Community. Creativity. Relationships. Introducing New Holland Market, a 300,000 square foot retail development featuring the recently opened Kroger Marketplace. Now leasing Phase II, with up to 80,000 square feet available.

Sabre Real Estate Group (516-8748070) is representing Maggiano’s with its expansion plans throughout the New York, NY metropolitan area, including sites in Brooklyn, Nassau, Queens, Staten Island, Suffolk and Westchester counties. The Italian restaurants use spaces of 8,000 sq.ft. to 10,000 sq.ft. in lifestyle centers, enclosed regional malls, freestanding locations and downtown areas. The company is also representing Crème De La Crème with its expansion plans throughout Long Island, NY. The chain of children’s early learning centers prefer to occupy spaces of 15,000 sq.ft. to 21,000 sq.ft., with an additional 6,000 sq.ft. of outdoor space. Land areas of three acres are required. Typical leases run 15 to 20 years with options. The company is also representing Quickway with its expansion plans throughout Columbia, MD and the Washington, DC metropolitan area. The Japanese-inspired restaurants prefer to occupy spaces of 1,500 sq.ft. to 2,000 sq.ft. Baum Realty Group (312-275-3103) is representing Speedway, LLC with its expansion plans throughout the Chicagoland, IL market. The convenience stores, with gasoline facilities, prefer to locate on land areas of 1.5 to four acres. Preferred demographics include a population of 3,000 within one-mile. Preferred average daily traffic counts include 25,000 vehicles. The company requires the ability to operate 24 hours a day, seven days a week. The company is also representing DryHop Brewers with its expansion plans in select locations throughout Chicago, IL in suburban and neighborhood markets. The company prefers to occupy spaces of 5,000 sq.ft. to 10,000 sq.ft., with the potential for an outside seating area. Sites must have high ceilings and limited columns and must be able to accommodate black iron. Rosano Partners (858-952-0400) is representing The Buffalo Spot Wings & Ribs with its expansion plans throughout Los Angeles and San Diego County in CA. The restaurants prefer to occupy spaces of 1,000 sq.ft. to 2,000 sq.ft. in second-generation spaces. Preferred average daily traffic counts are 30,000 vehicles.

Gainesville, GA | Atlanta Metro Market

864.272.0088 | David.Winburn@choldings.com CHoldings.com

Page 52 | May 23, 2014

Franklin Street Real Estate (813-386-0456) is representing Little Greek Restaurant with its expansion plans throughout Lakeland, Sarasota and Tampa Bay, FL. The restaurants utilize spaces of 1,000 sq.ft. to 2,000 sq.ft. in shopping centers, freestanding locations and downtown areas. Typical leases run five to 10 years with two, five-year options. (continued on page seventy-two)

Dealmakers Magazine | www.dealmakers.net


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LEAD SHEET AutoZone, Inc. dba AutoZone PO Box 2198 Memphis, TN 38101 Web site: www.autozonerealestate.com

Automotive The 5,200-unit chain operates locations nationwide and in Mexico, Puerto Rico and Brazil. The automotive parts and accessories shops occupy spaces of 5,400 sq.ft. to 7,200 sq.ft. in freestanding locations and inline spaces of shopping centers. Growth opportunities are sought throughout the existing markets during the coming 18 months. For more information regarding expansion along the northwest border in AR and throughout AK, AZ, CA, CO, as well as in central and southern FL, HI, ID, along the southern border of KS, the greater St. Louis, MO metropolitan area, MT, NE, NM, NV, OK (exclusive of the southeastern region), OR, western half of SD, Wichita Falls, TX; UT, WY and Puerto Rico, contact Brad Denzin, 901-495-8904; Email: brad.denzin@autozone.com. For more information regarding expansion throughout AL, AR (all except extreme northwest), CT, north-central, northern and panhandle areas of FL, GA, LA (all except Baton Rouge and New Orleans metros), MA, ME, MS (all north of Jackson metro), NC, NH, NJ (north of I-195), NY, OK (extreme southeast only), PA (I-80 corridor east of I-79, and all north thereof), RI, SC, TN, TX (all except Wichita Falls metro), VA (extreme southwest only), VT, WA, contact Tahir Sikandar, 901-495-8914; Email: tahir.sikandar@autozone.com. For more information regarding expansion in Mexico, contact Hector Gomez Serna, Email: hector.gomez@autozone.com. For more information regarding expansion throughout DE, IA, IL, IN, KS (all except extreme south), KY, Baton Rouge and New Orleans, LA; MD, MI, MN, MO (all except St. Louis ADI), MS (Jackson metro and all south thereof), ND, NJ (south of I-195), OH, PA (All except I-80 corridor east of I-79 and north thereof), SD (east half only), VA (DC Metro and all except extreme southwest), WI, WV and Washington, DC, contact Kendrick Hickman, 901495-8921; Email: kendrick.hickman@autozone.com. For more information regarding expansion throughout Brazil, contact Richard Dorsey, 901-495-8767; Email: richard.dorsey@autozone.com.

JoAnn Fabric and Craft Jerry Welkis c/o Welco Realty 2525 Palmer Avenue New Rochelle, NY 10801 914-576-7500, Fax 914-576-7596 Email: jwelkis@welcorealty.com Web site: www.welcorealty.com

Arts/Crafts/Fabrics The chain operates more than 800 locations nationwide. The stores, offering fabrics, sewing and scrapbooking products, as well as home décor items, occupy spaces of 12,000 sq.ft. to 22,000 sq.ft. in power, strip and community centers. Growth opportunities are sought throughout NJ and the New York, NY metropolitan area during the coming 18 months, with representation by Welco Realty. Preferred cotenants include supermarkets, discount department stores, apparel and home improvement retailers.

T.L.E. Holding Corp. dba The Learning Experience Nick Vanella, Essie Kronstat or Chad Weissman 4855 Technology Way, Suite 700 Boca Raton, FL 33431 561-886-6400 Ext. 273/294/244, Fax 561886-6433 Emails: nvanella@tlecorp.com, ekronstat@tlecorp.com and cweissman@tlecorp.com Web site: www.thelearningexperience.com

Childcare The 125-unit chain operates locations throughout CA, CO, CT, DE, FL, GA, IL, MA, MD, MI, NC, NH, NJ, NY, OH, PA, TX and VA. The childcare learning centers occupy spaces of 10,000 sq.ft. in freestanding locations. Growth opportunities are sought during the coming 18 months. Typical leases run 15 years with a minimum of two, five-year options. Turnkeys and build-to-suits are preferred. Preferred demographics include a population of 75,000 within five miles earning $75,000 as the average household income. The company prefers to locate in areas with high visibility and is franchising. For more information regarding expansion throughout southern CA, CO and TX, contact Chad Weissman. For more information regarding expansion throughout CO, CT, GA, MD, NJ, OH, TX and VA, contact Essie Kronstat. For more information regarding expansion throughout northern CA, FL, IL, MA, MI, NC, NH, NJ, NY, PA and TN, contact Nick Vanella.

Gordman’s Stores Allan Murow c/o N & M Brokerage Services, LLC 2285 South 67th Street, Suite 250 Omaha, NE 68106 402-496-1616, Fax 402-496-6250 Email: amurow@noddlecompanies.com Web site: www.noddlecompanies.com

Department Store The 90-unit chain operates locations throughout AR, CO, IA, ID, IL, IN, KS, KY, MN, MO, MS, ND, NE, OK, SD, TN, UT and WI. The department stores, offering apparel, home décor, furniture and kitchen products, occupy spaces of 50,000 sq.ft. in malls, power and strip centers. Growth opportunities are sought throughout the existing markets, excluding ID, and in addition to MI, OH and TX, during the coming 18 months, with representation by N & M Brokerage Services, LLC.

Family Dollar John Williams c/o Royal Properties, Inc. 850 Bronx River Road Bronxville, NY 10708 914-237-3403, Fax 914-237-0196 Email: john@royalpropertiesinc.com Web site: www.royalpropertiesinc.com

Discount The 8,100-unit chain operates locations nationwide in 46 states. The stores, offering discounted general merchandise, occupy spaces of 8,000 sq.ft. to 10,000 sq.ft. in freestanding locations and strip centers. Growth opportunities are sought throughout the lower Hudson Valley area of NY during the coming 18 months, with representation by Royal Properties, Inc.

Dealmakers Magazine | www.dealmakers.net

May 23, 2014 | Page 57


LEAD SHEET Marc Glassman, Inc. dba Marc’s and Xpect Discounts Ken Sustin 5841 West 130th Street Parma, OH 44130 216-265-7700, Fax 216-265-7733 Email: ksustin@marcs.com Web site: www.marcs.com

Discount Store The chain operates more than 50 locations throughout CT and OH. The stores, offering discounted general merchandise, groceries and health and beauty products, occupy spaces of at least 45,000 sq.ft. in strip centers. Growth opportunities are sought throughout OH during the coming 18 months. Typical leases run 10 years with options.

Target Steve Niggeman, Tom Londres, Mark Gerlach c/o Metro Commercial Real Estate, Inc. 161 Washington Street. Suite 375 Conshohocken, PA 19428 610-825-5222, Fax 610-825-5156 Web site: www.metrocommercial.com

Discount The 1,924-unit chain operates locations nationwide and in Canada. The stores, offering apparel, footwear, electronics, sporting goods and home dĂŠcor items, occupy spaces of 125,000 sq.ft. to 135,000 sq.ft. in freestanding locations and power centers. Growth opportunities are sought throughout Philadelphia, and in central, eastern and western areas in PA, as well as in southern NJ during the coming 18 months, with representation by Metro Commercial Real Estate, Inc. For specific information regarding expansion in central and eastern PA, contact Steve Niggeman. For specific information regarding expansion in southern NJ and Philadelphia, PA, contact Tom Londres. For more information regarding expansion in western PA, contact Mark Gerlach.

T&E Stores, Inc. dba Telco Stores Ted Serure 6014 11th Avenue Brooklyn, NY 11219 718-853-5050, Fax 718-853-4019 Email: teddy@telcostores.com Web site: www.telcostores.com

Discount Store The 11-unit chain operates locations throughout NY. The stores, offering discounted apparel, housewares, bed and bath items, jewelry and footwear, occupy spaces of 7,000 sq.ft. to 15,000 sq.ft. in strip and value centers, as well as urban/downtown areas. Plans call for two openings throughout NJ and NY during the coming 18 months. Typical leases run 15 years. Major competitors include Conway and Shoppers World.

Lakeshore Learning Materials Tom Zuber c/o Fairfield Retail Partners 88 Ryders Lane Stratford, CT 06614 203-870-8200, Fax 203-870-8201 Email: tzuber@fairfieldretail.com Web site: www.lakeshorelearning.com

Educational The 59-unit chain operates locations nationwide in 28 states. The stores, offering school supplies and learning materials for students and teachers, occupy spaces of 7,000 sq.ft. to 8,000 sq.ft. in freestanding locations and endcaps of shopping centers. Growth opportunities are sought throughout CT and Hudson Valley, NY during the coming 18 months, with representation by Fairfield Retail Partners.

Goodrich Quality Theaters, Inc. dba Goodrich Quality Theaters Robert Goodrich 4417 Broadmoor Avenue Southeast Grand Rapids, MI 49512 616-698-7733, Fax 616-698-7220 Email: bgoodrich@gqti.com Web site: www.gqti.com

Entertainment The 30-unit chain operates locations throughout IL, IN, MI and MO. The move theaters occupy spaces of 30,000 sq.ft. to 70,000 sq.ft. in freestanding locations, entertainment, lifestyle and power centers. Growth opportunities are sought throughout the surrounding suburbs of the major metropolitan areas in the existing markets during the coming 18 months.

Studio Movie Grill Brian Schultz 8350 North Central Expressway, Suite 400 Dallas, TX 75206 972-388-7888, Fax 214-751-3980 Email: jgdula@studiomoviegrill.com Web site: www.studiomoviegrill.com

Entertainment The 16-unit chain operates locations throughout AZ, GA, IL, IN, NC, OH and TX. The movie theaters/restaurants occupy spaces of 40,000 sq.ft. to 65,000 sq.ft. in freestanding locations, regional malls, lifestyle, power and specialty centers, as well as urban/downtown areas. Plans call for eight to 10 openings throughout the top 25 regional markets throughout the U.S. Typical leases run 10 years. Specific improvements are required. Preferred cotenants include bookstores, restaurants, Super Target and Bed Bath & Beyond. Preferred demographics include a trade area population of 300,000 earning $70,000 as the average household income.

Page 58 | May 23, 2014

Dealmakers Magazine | www.dealmakers.net


LEAD SHEET Anytime Fitness Brent Godbout 12181 Margo Avenue South Hastings, MN 55033 800-704-5004, Fax 651-438-5099 Email: brent@freadvisors.com Web site: www.anytimefitness.com

Fitness The 2,500-unit chain operates locations nationwide. The fitness centers occupy spaces of 2,500 sq.ft. to 6,000 sq.ft. in neighborhood, power and strip centers. Growth opportunities are sought throughout the existing market during the coming 18 months. Typical leases run five years. The company is franchising.

Work Out World Carl Minue or Richard Brunelli c/o RJ Brunelli & Co. LLC 400 Perrine Road Old Bridge, NJ 08857 732-721-5800, Fax 732-721-9241 Email: cminue@rjbrunelli.com Web site: www.rjbrunelli.com

Fitness The 12-unit chain operates locations throughout NJ. The fitness centers occupy spaces of 25,000 sq.ft. in freestanding locations, lifestyle, specialty and strip centers. Plans call for two openings throughout central and northern NJ during the coming 18 months, with representation by RJ Brunelli & Co. LLC.

Bi-Mart Co. Mark Ringsdorf 220 South Seneca Road Eugene, OR 97402 541-344-0681 Web site: www.bimart.com

General Merchandise The 75-unit chain operates locations throughout ID, OR and WA. The stores, offering discounted housewares, apparel, groceries, sporting goods and health and beauty items, occupy spaces of 30,000 sq.ft. in freestanding locations and strip malls. Growth opportunities are sought throughout the existing markets during the coming 18 months.

Party City Rob Samtmann c/o Equity Retail Brokers – Retail Brokers Network Member 101 West Elm Street, Suite 370 Conshohocken, PA 19428 610-645-7700 Ext. 108, Fax 610-645-5454 Email: rsamtmann@equityretailbrokers.com Web site: www.equityretailbrokers.com

Party Supplies The 800-unit chain operates locations nationwide and in Puerto Rico. The party supply stores occupy spaces of 12,000 sq.ft. to 14,000 sq.ft. in inline spaces and endcaps of shopping centers. Growth opportunities are sought throughout southern NJ and in Lehigh Valley, PA during the coming 18 months, with representation by Equity Retail Brokers.

Pet Supplies Plus Peter Montesanto c/o The Dartmouth Co. 351 Newbury Street Boston, MA 02115 617-369-5909, Fax 617-262-1806 Email: pmontesanto@dartco.com Web site: www.dartco.com

Pet Supplies The 280-unit chain operates locations nationwide. The pet supply stores occupy spaces of 7,000 sq.ft. to 10,000 sq.ft. in freestanding locations and endcaps of shopping centers. Growth opportunities are sought throughout the New England region during the coming 18 months, with representation by The Dartmouth Co.

ERHCo., Inc. dba Shoe Mill Ed Habre 10850 SE Fuller Road Portland, OR 97222 503-353-7707 Ext. 202 Email: ehabre@shoemill.com Web site: www.shoemill.com

Shoes The eight-unit chain operates locations throughout OR. The shoe stores occupy spaces of 2,500 sq.ft. in regional malls and lifestyle centers. Growth opportunities are sought throughout the existing market during the coming 18 months. Typical leases run 10 years.

Dealmakers Magazine | www.dealmakers.net

May 23, 2014 | Page 59


LEAD SHEET Elements Massage Tom Zuber c/o Fairfield Retail Partners 88 Ryders Lane Stratford, CT 06614 203-870-8200, Fax 203-870-8201 Email: tzuber@fairfieldretail.com Web site: www.elementsmassage.com

Specialty The 174-unit chain operates locations nationwide. The facilities, offering massage services and wellness programs, occupy spaces of 1,800 sq.ft. to 2,000 sq.ft. in grocery-anchored shopping centers. Growth opportunities are sought throughout Fairfield County, CT and Westchester County, NY during the coming 18 months, with representation by Fairfield Retail Partners. Preferred cotenants include apparel retailers. The company prefers to locate in affluent areas.

Sabon NYC dba Sabon Inna Uretsky 38 Green Street, Suite 5A New York, NY 10013 212-473-1009 Ext. 16 Email: sabon@sabonnyc.com Web site: www.sabonnyc.com

Specialty The 17-unit chain operates locations throughout south Miami Beach, FL; Chicago, IL; at the Mall of America in MN and in Long Island and Manhattan, NY. The stores, offering bath and cosmetic products, occupy spaces of 1,000 sq.ft. to 1,500 sq.ft. in downtown areas. Growth opportunities are sought nationwide during the coming 18 months.

Salons by JC Daniel Mitchell c/o The Weitzman Group - Retail Brokers Network Member 70 NE Loop 410, Suite 450 San Antonio, TX 78216 Email: dmitchell@weitzmangroup.com Web site: www.weitzmangroup.com

Specialty The 19-unit chain operates locations throughout AL, NC and TX. The salons, offering hair, massage, nail and skin care services, occupy spaces of 6,000 sq.ft. to 10,000 sq.ft. in freestanding locations, regional malls, mixed-use, power, specialty and strip centers, as well as urban/downtown areas. Plans call for 50 to 75 openings nationwide during the coming 18 months, with representation by The Weitzman Group. Typical leases run 10 years. A vanilla shell is required. Preferred demographics include a population of 80,000 within three miles earning $75,000 as the average household income. Major competitors include Sola Salons, Phoenix Salon Suites and My Salon Suites. The company is franchising.

Academy Sports & Outdoors Darren Pitts c/o Velocity Retail Group 2415 East Camelback Road, Suite 400 Phoenix, AZ 85016-4288 602-682-6050, Fax 602-682-8101 Email: darren.pitts@velocityretail.com Web site: www.velocityretail.com

Sporting Goods The 160-unit chain operates locations throughout AK, AL, FL, GA, KS, LA, MO, MS, NC, OK, SC, TN and TX. The sporting goods stores occupy spaces of 70,000 sq.ft. in power centers. Growth opportunities are sought throughout NM during the coming 18 months, with representation by Velocity Retail Group.

Carnival Booking, Inc. dba Carnival Booking Lois Konnos or Linda Wade 713-782-5088 Email: linda@carnivalbooking.com Web site: www.carnivalbooking.com

Temporary Tenant The company operates outdoor carnivals nationwide and utilizes land areas of up to 80,000 sq.ft. on parking lots of malls and strip centers. Growth opportunities are sought throughout the existing market during the coming 18 months.

Toys ‘R’ Us Jerry Welkis c/o Welco Realty 2525 Palmer Avenue New Rochelle, NY 10801 914-576-7500, Fax 914-576-7596 Email: jwelkis@welcorealty.com Web site: www.welcorealty.com

Toys The 873-unit chain operates locations nationwide and in Puerto Rico. The toy stores occupy spaces of 70,000 sq.ft. in freestanding locations and regional shopping centers. Growth opportunities are sought throughout select markets in CT and select markets in Westchester, NY during the coming 18 months, with representation by Welco Realty.

The preceding leads have been verified by calls made to or written submittals from the respective retailers during the weeks prior to publication. Since the majority of chains featured in Lead Sheet are small in size, some changes in their expansion plans should be expected. To be included in an upcoming issue, just fax a note or call us with the details. Our fax number is (609-587-3511) and you can reach us by phone at (609-587-6200) or email at ann@dealmakers.net. Page 60 | May 23, 2014

Dealmakers Magazine | www.dealmakers.net


OFFICE LOCATIONS:

LONG ISLAND 500 Old Country Road Garden City, NY 11530 T 516 874 8070

OUTER BOROUGHS 256B Flatbush Avenue Brooklyn, NY 11217 T 718 484 2002

NEW JERSEY 30 Journal Square Jersey City, NJ 07306 T 201 249 8911

sabreny.com


FOOD CHAINS EXPAND NATIONWIDE (continued from page forty-eight)

T.G.I. Friday’s operates more than 900 locations nationwide and internationally. The chain of casual dining restaurants prefer to occupy spaces of 8,000 sq.ft. in freestanding locations or pad sites of shopping centers. Growth opportunities are sought throughout DE, southern NJ and eastern PA during the coming 18 months, with representation by Equity Retail Brokers - Retail Brokers Network Member. The company will also consider locating in second-generation spaces. For more information, contact Rob Samtmann or Brian Wherty, Equity Retail Brokers, 101 West Elm Street, Suite 370, Conshohocken, PA 19428; 610-645-7700; Email: rsamtmann@equityretailbrokers.com; Web site: www.equityretailbrokers.com. Fab Hot Dogs operates two locations in CA. The restaurants prefer to occupy spaces of 1,100 sq.ft. to 1,700 sq.ft. in endcaps of shopping centers and freestanding locations. Growth opportunities are sought throughout Santa Monica, west Los Angeles, Hollywood, Burbank and Woodland Hills, CA during the coming 18 months, with representation by Westside Retail.

For more information, contact Marc Pollock, Westside Retail, 11847 Gorham Avenue, Suite 120, Los Angeles, CA 90049; 310-826-8000; Email: marc@westsideretail.com; Web site: www.westsideretail.com. Kneaders Bakery & Café operates 27 locations throughout AZ, CO, ID and UT. The restaurants occupy spaces of 3,600 sq.ft. in various retail settings. Plans call for three openings in NV during the coming 18 months, with representation by R.O.I. Commercial Real Estate – Retail Brokers Network Member. A land area of 0.75 acres is required for freestanding locations. Typical leases run 20 years. Major competitors include Panera Bread. Freddy’s Frozen Custard & Steakburgers operates more than 110 locations nationwide. The restaurants occupy spaces of 3,600 sq.ft. in various retail settings. Plans call for three openings in NV during the coming 18 months, with representation by R.O.I. Commercial Real Estate. Typical leases run 20 years. For more information, contact Brian Sorrentino or Todd Boyer, R.O.I. Commercial Real Estate, 7100 West Smoke Ranch Road, Suite 100, Las Vegas, NV 89128; 702-3633100; Email: brian@roicre.com; Web site: www.roicre.com.

Stone’s Cove Kitbar operates two locations in MD and VA. The restaurants prefer to occupy spaces of 4,500 sq.ft. in endcaps of shopping centers or pad sites. Growth opportunities are sought throughout the Mid-Atlantic region of the U.S. during the coming 18 months, with representation by Papadopoulos Properties. For more information, contact John Gogos, Papadopoulos Properties, 1420-B 21st Street Northwest, Washington, DC 20036; 202466-2200; Email: jgogos@papadop.com; Web site: www.papadop.com. BJ’s Restaurant & Brewhouse operates more than 140 locations throughout AZ, CA, CO, FL, IN, KS, KY, LA, MD, NM, NV, OH, OK, OR, TX, VA and WA. The restaurants occupy spaces of 8,000 sq.ft. to 10,000 sq.ft. in various retail settings. Growth opportunities are sought throughout southeastern FL during the coming 18 months, with representation by Retail Sites, Inc. For more information, contact Bill Bymel, Retail Sites, Inc., 3000 Northeast 30th Place, Suite 401, Ft. Lauderdale, FL 33306; 561222-9803; Email: billbymel@retailsitesinc.com; Web sites: www.retailsitesinc.com and D www.bjsbrewhouse.com. M

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For further information, view all of these sites at www.pierce-hardy.com Page 62 | May 23, 2014

Dealmakers Magazine | www.dealmakers.net


BUYERS AND SELLERS (continued from page thirty-two)

Breslin Realty is seeking investment properties priced between $10 million and $40 million in the Long Island, NY area. Tristate area properties will be considered. For more information, contact Judy Pascucci, Breslin Realty, 500 Old Country Road, Garden City, NY 11530; 516-741-7400 Ext. 216; Email: jpascucci@breslinrealty.com. UCR Investment Sales negotiated the sale of a 15,000 sq.ft. freestanding Nike Factory Store located at the Louisiana Boardwalk mixed-use development in Bossier City, LA. For more information, contact Adam Howells, UCR Investment Sales, 8080 Park Lane, Suite 800, Dallas, TX 75231; 214-252-1185. Faris Lee Investments is selling Shops at Birch Street Promenade located in Brea, CA. The shopping center is 100% occupied and tenants include Chico’s, White House | Black Market, Bath & Body Works and Old Navy. Area demographics include a population of 372,000 within five miles earning $89,000 as the average household income. For more information, contact Shaun Riley, Faris Lee Investments, 949-221-1807.

Vornado Realty Trust is selling Beverly Connection, a 335,000 sq.ft. power center located in Los Angeles, CA for $260 million. For more information, contact Vornado Realty Trust, 888 Seventh Avenue, New York, NY 10019; 212-894-7000; Web site: www.vno.com. illi Commercial Real Estate is selling Simi Valley Shopping Center, a 13,879 sq.ft. center located at the intersection of East Los Angeles Avenue and Yosemite Avenue in Simi Valley, CA. The property is anchored by Vons and Rite-Aid. The asking price is $2.695 million with a Cap rate of 8.06%. For more information, contact Todd Nathanson, illi Commercial Real Estate, 17547 Ventura Boulevard, Suite 304, Encino, CA 91316; 818-501-2212 Ext. 101, Fax 818501-2202; Email: todd@illicre.com. Kohan Retail Investment Group recently acquired Lake Square Mall, a 470,943 sq.ft. mall located in Leesburg, FL. The property was acquired for $13.28 million. For more information, contact Kohan Retail Investment Group, 1010 Northern Boulevard, Suite 212, Great Neck, NY 11024; Web site: www.kohanretail.com.

The Greysteel Co. is selling Belair Edison Crossing, a 204,000 sq.ft. fully-leased shopping center in Baltimore, MD. Tenants include Food Depot, Maxway, Forman Mills and Dollar General. For more information, contact Gil Neuman, The Greysteel Co., 7735 Old Georgetown Road, Suite 301, Bethesda, MD 20814; 202-499-4077; Email: gneuman@greysteel.com. Target Rock Partners is selling Independence Crossing, a 48,771 sq.ft. shopping center located in Morganton, NC. The site is 80% occupied with Tractor Supply Co. and Family Dollar. The asking price is $2.35 million with a Cap rate of 7.75%. For more information, contact Michael Ryan, 711 3rd Avenue, 20th Floor, New York, NY 10017; 631-683-4671; Email: mryan@targetrockinc.com. SVN | The Kase Group is selling a Planet Fitness in La Puente, CA. The asking price is $4.73 million with a Cap rate of 6.5%. For more information, contact Kase Abusharkh, SVN | The Kase Group, PO Box 365, Diablo, CA 94528; 925-348-1844; D Email: kase@svn.com. M

PRIME JUNIOR ANCHOR SPACES AVAILABLE – NORWALK, CT ShopRite Shopping Center

Walmart Center

360 Connecticut Avenue (Route 1) -- Norwalk, CT

650 Main Avenue (Route 7) -- Norwalk, CT

19,800 SQ. FT. AVAILABLE

9,600 – 25,000 SQ. FT. AVAILABLE

Join Co-Tenants:

Join Co-Tenants:

ShopRite

Walmart

The Tile Shop

Panera Bread

Petco

COMPUTER

Qdoba Mexican Grill

DR. DENTAL

The Paper Store

CHINESE RESTAURANT

DEAL PENDING

Webster Bank

PWC

 

Choice Pet Supply GameStop

6 DAY

15,990 SF

CLEANERS

GNC

Aspen Dental

Sports Clips

Bank of America

Available

9,600 SF Available

AVAILABLE 19,880 SF

Main Avenue (Route 7)

Connecticut Avenue (Route 1)

33,168 Cars per Day

29,900 Cars per Day

VISIT US AT  www.RoyalPropertiesInc.com  Page 64 | May 23, 2014

For More Information Please Contact: Jeff Kintzer * 914.237.3403, Ext. 103 *  jeff@royalpropertiesinc.com  Dealmakers Magazine | www.dealmakers.net


RETAIL SPACE NEW DEVELOPMENT Holmesview Commons Farmingville, NY

Property Features • 118,500 SF approved retail development

• Busy N. Ocean Ave. & Horseblock Rd. intersection

• 2,000 - 70,000 SF units available

• Major retail corridor with great visibility & traffic light

• Situated on a 20.6 acre plot

• Local retailers include: Stop & Shop, K-Mart, UPS, Applebees, TGI Friday’s, Burger King, McDonald’s, Chase, TD Bank, CVS Pharmacy, Lowes, Target, etc.

• High traffic count: 80,000 VPD • Pad site/restaurant opportunities

To make an appointment for ICSC RECon Las Vegas contact Dennis McCoy or Albert Centrella at 631.270.3029

nailongisland.com

Scan to schedule appointment via e-mail

Visit NAI Long Island: NAI GLOBAL BOOTH S255Q STREET - SOUTH UPPER HALL 3 LAS VEGAS CONVENTION CENTER


REAL ESTATE PROFESSIONALS MAKING THE NEWS

LEASE SIGNINGS

(continued from page forty-four)

(continued from page forty-six)

R.J. Brunelli & Co., LLC (732-290-0121) promoted Nick DeLuca to sales associate. In his new position, DeLuca will focus on tenant representation for Taco Bell throughout northern NJ, and be responsible for sourcing and negotiating leases and land purchases.

Bennett Williams Realty, Inc. (717-8435555) negotiated the following leases throughout PA: with Sky Zone for 24,045 sq.ft. at Gateway Square, located along Gateway Drive in Mechanicsburg, with Steve Clipman representing the tenant in the transaction; with Weaves, Etc. for 1,200 sq.ft. at Dauphin Plaza located along Union Deposit Road in Harrisburg and with E’steam Vapes for 540 sq.ft. at Market Square Shopping Center, located along Old Farm Lane in Shrewsburg, with Bennett Williams Realty, Inc. representing the landlord and the tenant in the transaction.

SRS Real Estate Partners (214-560-3215), in partnership with Cresa Toronto, recently opened an office in Toronto, Canada. Jamie Grossman will oversee the new location. The company specializes in brokerage, corporate, development, investment and management services. DM

ALWAYS ON TREND ... ALWAYS EXPANDING

LOCATIONS WANTED 60 STORES, 10 STATES

(AR, CT, FL, MA, MD, NJ, NY, PA, RI, TN)

...AND GROWING!

10 NEW STORES PER YEAR AGGRESSIVELY LOOKING FOR ACQUISITIONS • LOOKING FOR 4,000 TO 9,000 SQUARE FEET WITH MINIMUM 40-FOOT STOREFRONT IN (AR, CT, FL, MA, MD, NJ, NY, PA, RI, TN). • STRIPS, POWER CENTERS, MALLS OR DOWNTOWN STOREFRONTS PREFERRED. • 3-MILE DEMOGRAPHIC REQUIREMENTS: 100,000 POPULATION WITH $40,000 AVG. INCOME

CONTACT: NATHAN HOFFMAN TEL: (201) 319-1400 x118

nhoffman@madragstores.com

R.O.I. Commercial Real Estate – Retail Brokers Network Member (702-363-3100) negotiated a lease renewal with Wells Fargo for 4,993 sq.ft. along West Sahara in Las Vegas, NV. Todd Boyer of R.O.I. Commercial Real Estate represented the tenant in the transaction. KeyPoint Partners (781-273-5555) negotiated a sublease with WOW! WorkOut World for 18,474 sq.ft. at Pawcatuck Shopping Center, located along South Broad Street in Pawcatuck, CT. Don Mace of KeyPoint Partners negotiated the transaction. Friedman Integrated Real Estate Solutions (248-324-2000) negotiated a lease with Phantom Fireworks for 8,484 sq.ft. along Telegraph Road in Taylor, MI. Greg Hornby of Friedman Integrated Real Estate Solutions represented the landlord, Sebanc Taymich Investments, LLC, in the transaction. Sterling Organization (561-835-1810) negotiated a 10-year lease with Unleashed by Petco for 6,277 sq.ft. at Grandview Shopping Center, a 105,328 sq.ft. shopping center located at the intersection of Interstate Highway 10 and Callaghan Road in San Antonio, TX. Trinity Partners (919-674-3690) negotiated leases with Rainbow Apparel for 9,600 sq.ft., rue21 for 4,800 sq.ft. and with GNC for 1,200 sq.ft at High Point Marketplace in High Point, NC. Todd Harrelson of Trinity Partners represented the landlord in the transactions. CBRE (919-831-8200) negotiated the following leases throughout NC: with Fidelity Investments for 1,730 sq.ft. at Renaissance Center at Southpoint in Durham; with Edward Jones for 1,321 sq.ft. at Centerview III in Raleigh and with Sports Clips for 1,225 sq.ft. at Parkside Town Commons in Cary. Sandor Development (317-524-7834) negotiated the following leases: with 1st Financial for 1,363 sq.ft. at Toys R Us Plaza in Kennesaw, GA; with Boost Mobile for 1,000 sq.ft. at Lincoln Crossing in Chicago Heights, IL; with Sally Beauty for 1,600 sq.ft. at Dillons Plaza in Topeka, KS; and with O’Reilly Auto Enterprises for 6,656 sq.ft. at Mejestic Square in Essexville, MI. DM

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10 SPOT / MADRAG CORPORATE OFFICE 30 SEAVIEW DRIVE, SECAUCUS, NJ 07094 Page 66 | May 23, 2014

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NOW BOOKING     ICSC DEALMAKING APPOINTMENTS 

We are a full service firm focused on serving our diverse base of local, regional   and national clients in core markets across the Upstate New York Region. 

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Excess Asset Disposi�on  ♦  Exclusive Representa�on  ♦  Franchise Consul�ng  ♦  Investment Sales      Land Assemblage & Acquisi�on   ♦  Project Development  ♦  Property Management      Real Estate Consul�ng  ♦  Receivership Services  ♦  Retail Site Selec�on  

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SPACE PLACE Alabama

California

California

Tuscaloosa - A 3,846 freestanding building is available along 15 Street East, at the northeast corner of Veteran’s Memorial Parkway and Eastwood. For more information, contact Jeff M. Ross or Lee Cherney, Kin Properties, 561-6209200 Ext. 123/111.

Arcadia – Dukeland Plaza, a 10,000 sq.ft. center located at the intersection of Las Tunas Drive and El Monte Avenue, has spaces from 1,000 sq.ft. to 10,000 sq.ft. available. Area retailers include CVS, Walgreens, Albertsons, Burger King, Goodwill, Ralphs and Jack in the Box. Area demographics include a population of 218,498 within three miles earning $75,675 as the average household income. The average daily traffic count is 30,700 vehicles. The asking monthly rent is $2.75 to $3.50 psf. For more information, contact Hugo Chau, Treeline Realty, 626-466-8128; Email: hugochau@gmail.com.

power center located at the intersection of 60 Freeway and Interstate 215, has spaces available. Cotenants include Hooter’s, Staples, Sleep Train and Waba Grill. Area demographics include a population of 250,160 within five miles earning $69,748 as the average household income. The average daily traffic count is 250,000 vehicles. For more information, contact Terry Bortnick, Nick Ritch or Daniel Firtel, Argent Retail Advisors, 888-301-1888 Ext. 2/5/3; Email: tbortnick@argentretailadvisors.com.

California Apple Valley – Mojave River Crossings, a 16,716 sq.ft. retail center located at the intersection of Bear Valley Road and Apple Valley Road, has spaces of 1,300 sq.ft., 1,400 sq.ft. and 1,500 sq.ft. available. Area retailers include Home Depot, Lowe’s, Target, Cinemark Theater, Burlington Coat Factory, Juice It Up and Starbucks. Area demographics include a population of 131,266 within five miles earning $61,172 as the average household income. The monthly asking rent is $2 to $2.25 psf NNN. For more information, contact Elizabeth Brown, Lee & Associates, 14369 Park Avenue, Suite 200, Victorville, CA 92392; 760-241-5211, Fax 760-241-1208; Email: eabrown@lee-associates.com.

Riverside – Tyler Village, located along Indiana Avenue, has inline spaces available, along with a 12,200 sq.ft. freestanding restaurant building. Cotenants include Hobby People, Champion Wellness, KO Fitness Center, Kings Market and Body Tan Salon. Area demographics include a population of 238,773 within five miles earning $73,141 as the average household income. The average daily traffic count is 181,593 vehicles. Also – Canyon Crossings, a 530,000 sq.ft.

Colorado Denver – Clayton Lane, a 335,064 sq.ft. mixeduse development, has a space of 4,627 sq.ft. available. Also – Tiffany Plaza, a 214,411 sq.ft. neighborhood center, has spaces of 1,442 sq.ft. to 4,300 sq.ft. available. Whole Foods anchors the center. Ft. Collins – Harmony Marketplace, a 350,593 sq.ft. power center, has spaces from 1,201 sq.ft. to 2,000 sq.ft. available. For more information, contact AmCap, Inc., 1281 East Main Street, Stamford, CT 06902; 203-327-2001. Northglenn – A space of 56,040 sq.ft. space, which can be subdivided, is available along West 104th Avenue. Area retailers include Lowe’s Home Improvement, Best Buy, Ross Dress for Less, Old Navy and Office Depot. Area demographics include a population of 334,001 within five miles earning $66,659 as the average household income. For more information, contact Gary Shapiro or Len Weiselberg, Kin Properties, 888-546-7767 Ext. 114/112; Emails: gshapiro@kinproperties.com and lweiselberg@kinproperties.com.

Connecticut Ellington – Meadowview Plaza, located along Route 83/West Road, has a space of 4,200 sq.ft. available. Cotenants include Verizon Wireless, First Niagara Bank and Eastern Connecticut Health Network. For more information, contact Mehlich Associates, 914-793-5050. Meriden – Townline Square, a power center located along South Broad Street, has spaces available. Cotenants include Big Y World Class Market, Burlington Coat Factory, Famous Footwear and Pier 1 Imports. For more information, contact Urstadt Biddle Properties, Inc., 321 Railroad Avenue, Greenwich, CT 06830; 203-8638200; Web site: www.ubproperties.com. (continued on page seventy)

Page 68 | May 23, 2014

Dealmakers Magazine | www.dealmakers.net


NEW - ROUTE 1 - RETAIL LINDEN COMMONS REDEVELOPMENT OF THE FORMER KMART

EXCELLENT VISIBILITY 1701 WEST EDGAR ROAD (ROUTES 1&9) LINDEN, NEW JERSEY DEMOGRAPHICS 3 miles Population: 129,706 Avg HH Inc: $79,007 5 miles Population: 419,294 Avg HH Inc: $83,050

118,000 SQ. FT. REDEVELOPMENT OVER 6 TO 1 PARKING RATIO GREAT ACCESS TO NJ TURNPIKE, GARDEN STATE PARKWAY, AND I-287 SIGNALIZED ACCESS SMALL SHOP SPACE ALSO AVAILABLE ON THE END CAP

Matt Bloom, BKR Retail • 201-292-4647 x1 • mbloom@bkrretail.com Call for an appointment at ICSC RECon or visit us at the Booth • #S295R Street

Prime Anchor Position Available


SPACE PLACE Connecticut (continued from page sixty-eight)

Norwalk – Shop Rite Shopping Center, a 125,000 sq.ft. center located along Connecticut Avenue, has a space of 1,155 sq.ft. available, as well as a space of 19,880 sq.ft. to be available in February 2015. Cotenants include Shop Rite, The Tile Shop, Game Stop, GNC, Sport Clips and Webster Bank. Area demographics include a population of 155,947 within five miles earning $145,680 as the average household income. The average daily traffic count is 29,900 vehicles. For more information, contact Jeff Kintzer, Royal Properties, Inc., 850 Bronx River Road, Bronxville, NY 10708; 914-237-3403 Ext. 103, Fax 914-237-0196; Email: jeff@ royalpropertiesinc.com; Web site: www. royalpropertiesinc.com.

Delaware Wilmington – Shoppes of Graylyn, a 66,808 sq.ft. center located at the intersection of Marsh Road and Silverside Road, has a space of 2,576 sq.ft. available. Cotenants include Rite Aid, Dunkin’ Donuts, Supercuts,

Delaware

Florida

Domino’s Pizza, H&R Block, PNC Bank and Sherwin-Williams. Area demographics include a population of 79,975 within three miles earning $95,087 as the average household income. The average daily traffic count is 13,907 vehicles. Also – Pike Creek, a 231,562 sq.ft. center located at the intersection of Limestone Road and New Linden Hill Road, has spaces from 232 sq.ft. to 3,923 sq.ft. available. Cotenants include Acme, Kmart, Radio Shack, Ruby Tuesday, Fast Frame, Subway, The Little Gym and H&R Block. Area demographics include a population of 61,431 within three miles earning $99,886 as the average household income. The average daily traffic count is 32,000 vehicles. For more information, contact David Sherin, Regency Centers, 610-747-1212; Email: davidsherin@regencycenters.com.

population of 221,137 within five miles earning $86,657 as the average household income. The average daily traffic count is 103,000 vehicles. For more information, contact Gary Broidis, Atlantic Commercial Group, Inc., 561-447-8610; Email: gary@atlanticcg.com.

Florida Boca Raton – Palmetto Park Square, located along Palmetto Park Road, has retail spaces available. Cotenants include Kmart, Publix and TD Bank. Area demographics include a

have your business escape to red bank Nestled in a cozy nook just minutes from the Jersey Shore, historic Red Bank is home to a vibrant downtown filled with the unique, chic and trendy. Red Bank boasts a thriving arts & antiques district, two award winning live-theaters, waterfront boutique hotels, corporate & regional headquarters, and some of the most sought-after retail, entertainment and dining options on the east coast. The only thing missing is your business. Opening your business in Red Bank will expose you to all of the benefits our cool little town has to offer. We can help you every step of the way.

redbank a cool little town

For more details and a list of co-tenants, call 732-842-4244 or visit us at RedBank.org LEGO and the LEGO logo are trademarks and/or copyrights of the LEGO Group. (c)2014 The LEGO Group. All rights reserved.

Page 70 | May 23, 2014

Davie – Promenade West Shopping Center, a 52,839 sq.ft. center located along South University Drive, has spaces of 825 sq.ft. and 843 sq.ft. available. Cotenants include Moe’s Southwest Grill, Dunkin’ Donuts, Regent Bank and Longhorn Steakhouse. Area demographics include a population of 99,760 within three miles earning $78,814 as the average household income. The average daily traffic count is 77,000 vehicles. For more information, contact Bill Pace, The Rotella Group, Inc., 3300 North Federal Highway, Suite 200, Ft. Lauderale, FL 33306; 954-568-9015, Fax 954-568-9597; Email: wrp@rotellagroup.com; Web site: www.rotellagroup.com. Margate – Shoppes at Margate, a 52,758 sq.ft. neighborhood center, located along South State Road 7, has spaces available. Area demographics include a population of 388,042 within five miles earning $68,522 as the average household income. For more information, contact Charles Hirsch, Milbrook Properties, Ltd., 42 Bayview Avenue, Manhasset, NY 11030; 954-341-4000; chirsch@milbrookproperties.com; Web site: www.milbrookproperties.com. North Miami – California Club Shopping Center, a 280,000 sq.ft. center located at the intersection of Ives Dairy Road and 10th Avenue, has spaces available. Cotenants include Winn-Dixie, Citi Trends, Planet Fitness, Fallas, Dollar Tree, CVS and Burger King. Area demographics include a population of 479,640 within five miles earning $46,907 as the average household income. The average daily traffic count is 50,000 vehicles. For more information, contact RK Centers, 17100 Collins Avenue, Suite 225, Sunny Isles Beach, FL 33160; 305-949-4110, Fax 305-948-3410; Email: leasing@rkcenters.com. Port Richey – Embassy Crossing, located at the intersection of US Highway 19 and Embassy Boulevard, has spaces available. Cotenants include Sports Authority, Bed Bath & Beyond, Books-A-Million, Mercantile Bank and Olive Garden. The average daily traffic count is 64,000 vehicles. (continued on page seventy-seven)

Dealmakers Magazine | www.dealmakers.net


SPACE AVAILABLE Lynn Plaza Wheeling, IL 60090

AVAILABLE

• Parking for over 400 cars • Easy access from Route 53, I-94 and I-294 • Excellent retail visibility • Market includes Northbrook, Buffalo Grove, Prospect Heights and Arlington Heights • Across from Metra Train Station • Across from planned Wheeling Town Center, which includes a 30,000 sq.ft. theater and 300 units

JOIN

1,935 sq.ft. 3,000 sq.ft. 6,185 sq.ft. End Cap 7,300 sq.ft. (restaurant) Equipment Available

Market Place Crown Point, IN 46307

6700 Lincoln Ave Lincolnwood, IL 60712

• Great location • Easy access

• 100’ frontage on Lincoln Avenue • Average income of over $75K within 7 miles • Population over 1.4 million within 7 miles

• Abundant Parking • 40 miles south of Chicago

AVAILABLE 1,753 sq.ft. to 6,859 sq.ft. (can combine to 15,000 sq.ft.) * liquor license available

AVAILABLE 11,714 sq.ft. (may divide) AREA RETAILERS

JOIN Adjacent to

For more information, contact Michael A. Kolodny, CPM • mikek@hallmarkjohnson.com • 773.545.6160


TENANT REPS AND LEASING ASSIGNMENTS (continued from page fifty-two)

Winick Realty Group (212-792-2623) is representing Explore + Discover with its expansion plans throughout Bronx, Manhattan and Queens, NY. The chain of children’s early learning centers prefers to occupy spaces of 4,000 sq.ft. to 6,000 sq.ft. Jameson Commercial (312-929-1582) is representing Checkers with its expansion plans south of Interstate 290 in IL. The fast-food restaurants occupy endcaps and outlots of shopping centers and require a minimum of 12,000 sq.ft. of land with a ground lease.

Silbert Realty & Management Co., Inc. (908-604-6900) is representing the following retailers with their expansion plans: Cherrybrook Pet Supply in spaces of 3,000 sq.ft. to 5,000 sq.ft. in NJ; Del Frisco’s Grille/Sullivan’s Steakhouse in spaces of 7,000 sq.ft. to 9,000 sq.ft. in NJ; Fidelity Investments in spaces of 4,000 sq.ft. to 6,000 sq.ft. in regional markets throughout NJ; IPIC Theaters in spaces of 30,000 sq.ft. to 75,000 sq.ft. in major regional and downtown areas in NJ; No Body Denied Fitness in spaces of 7,000 sq.ft. to 9,000 sq.ft. throughout NJ and with Sonic Drive-In on land areas of .75 acres to 1.25 acres in Union City, NJ.

Royal Properties, Inc. (914-237-3403) is representing Sky Zone with its expansion plans throughout Westchester County, NY. The indoor trampoline facilities occupy spaces of 20,000 sq.ft. to 30,000 sq.ft. in shopping centers or build-to-suit locations. The company is also representing Hardee’s with its expansion throughout Dutchess, Orange, Putnam, Rockland, Sullivan, Ulster and Westchester counties in NY. The restaurants occupy spaces of 3,000 sq.ft. in freestanding locations and endcaps with a drive-thru. Zelnik & Co., LLC (212-223-2200) is representing Panda Express with its expansion plans throughout Brooklyn, Manhattan and Queens, NY. The restaurants prefer to occupy corner locations of 1,400 sq.ft. to 2,500 sq.ft. Levin Management (201-796-7788) has been appointed as the exclusive leasing agent for Holmdel Crossing, a 140,000 sq.ft. retail development located along Route 35 between Union Avenue and Laurel Avenue in Holmdel, NJ. Anchor and junior anchor spaces are available. The Rotella Group, Inc. (954-568-9015) is representing Invicta and Pandora with expansion plans along Lincoln Road in South Beach/Miami-Dade, FL. Invicta occupies spaces of 500 sq.ft. to 1,500 sq.ft. and Pandora utilizes spaces of 1,000 sq.ft. to 1,800 sq.ft. Renaud Consulting (703-404-2346) is representing Manhattan Pizza with its expansion plans throughout VA in spaces of 1,800 sq.ft. to 3,400 sq.ft. Horizon Realty Services, Inc. (847-870-8585) is representing North Shore Management Group with its expansion plans for Dunkin’ Donuts franchised locations throughout IL. RMC Property Group (813-960-8154) was appointed as the exclusive leasing agent for Sanibel Beach Place, a 72,886 sq.ft. shopping center located along Summerlin Road in Ft. Myers, FL. The center is located adjacent to Tanger Outlet Center. Katz & Associates (845-735-6666) is representing Firebirds Wood Fired Grill with its expansion plans throughout Monmouth County and northern NJ, as well as in NC and SC. The restaurants occupy spaces of 6,500 sq.ft. Gluck & Co. (718-972-1808) is representing Family Dollar with its expansion plans throughout the New York, NY metropolitan area. DM

Page 72 | May 23, 2014

Dealmakers Magazine | www.dealmakers.net


RD

MANAGEMENT LLC

Prime Leasing Opportunities!

18+ million sf 200+ retail projects Visit us at RECON 2014 at Booth S299 R Street RD Management LLC 810 Seventh Avenue 10th floor New York, NY 10019 1-800-2-OCCUPY 212-265-6600 x239 Thomas G. Mirandi 212-459-9133 fax tmirandi@rdmanagement.com

PUERTO RICO

Future Development Sites Anchor Positions In-Line Space End-Caps Outlots RD Management LLC ranked 29 out of 2012 Top 100 Retail Real Estate Owners!


18+ Million Square Feet NEW YORK Bellport BJ’s Shopping Center Sunrise Hwy. & Station Rd. 87,788 SF GLA

northeast MASSACHUSETTS Billerica Shops at Billerica Boston Rd. (Rte. 3A) & Tower Farm Rd. Kmart, Burlington Coat, Market Basket 275,000 SF GLA / Anchor Space Available Lowell Meadow Brook Center Plain Street & Lowell Connector Target, Marshalls, Chuck E. Cheese Pad Site Available 271,377 SF GLA Milford Kmart Shopping Center Medway St. & Beaver St. @ I-495 Kmart, Dollar Tree 140,470 SF GLA Future Expansion Space Available NEW JERSEY Marlton (Evesham) Tri-Towne Plaza Route 70 & Plymouth Dr. 176,519 SF GLA Anchor Space Available Redevelopment Underway Mt. Olive Vacant Land - 16.963 Acres Adjacent to Foreign Trade Zone Across from Walmart, Sam’s, TJ Maxx

Glenville/Scotia (Albany) Target Shopping Center Saratoga Rd. (Route 50) & Glenridge Rd. 174,000 SF GLA - In-Line Space Available Lake Ronkonkoma Lake Shore Plaza II Portion Rd. (Co. Rd. 16) & Patchogue-Holbrook Rd. Regal Cinemas, Dollar Tree / 94,826 sf GLA Latham/Colonie (Albany) Freestanding Building Route 7 & Swatling Rd. 118,863 SF GLA Anchor & Outlot Available Monroe/Woodbury Harriman Commons Routes 17 / 6 & Route 32 Walmart, Home Depot, BJ’s, Target 687,716SF GLA Future Phase III Office or Retail Nanuet Home Depot Plaza Route 59 & Hutton Ave. Home Depot, Staples - 250,000 SF GLA Orangetown Orangeburg Commons Route 303 & Palisades Parkway Super Stop & Shop Future Strip, Pads Available

Old Bridge A & P Shopping Center Route 9 & Ferry Rd. 72,060 SF GLA

Stony Point Stony Ridge Plaza Route 9W & Park Rd. US Post Office - 21,212 SF GLA

NEW

Parsippany Whole Foods Shopping Center Route 46 (Bloomfield Ave.) & Cherry Hill Rd. Whole Foods Anchor, In-Line & Pads Available Vineland Vineland Marketplace S. Delsea Dr. (Route 47) & College Dr. New Development Anchor Space / Outlots Available Vineland Kmart Plaza Expansion S. Delsea Dr. (Route 47) & Route 55 Kmart, TD Bank Two Parcels: 4.302 & 4.486 Acres Williamstown Williamstown Shopping Center Black Horse Pike (Route 42) & Main St. CVS, Dollar General 85,000 SF GLA Anchor Space Available NEW

NEW YORK Cortland Future Development Route 13 & Bennie Road 26 Acres across from Walmart

Water Mill (Southampton) Water Mill Shoppes Montauk Hwy. (Rte. 27) & Station Rd. Prime for Specialty Foods & Boutiques

NEW

PENNSYLVANIA Allentown Home Depot Plaza Lehigh St. & Route 78 135,000 SF GLA / 9.82 Acres Available Carlisle Home Depot Shopping Center Hanover Street (Route 34) & I-81 Home Depot, Chili’s 140,715 SF GLA 10,584 SF Future Expansion/Pad Montgomeryville Five Points Plaza Cowpath / Horsham Rd. at Rte 309 & Rte 202 BJ's, Lowe's - Anchor Space Available 133,000 sf GLA NEW

NEW YORK Quakertown NEW New Anchor Space at Richland Marketplace Rt. 309 & Pumping Station Road BJ’s Wholesale Club, Target, Best Buy 444,531 SF GLA PENNSYLVANIA Trexlertown Macungie Crossing Shopping Center Hamilton Blvd. (Route 222) & Grange Rd. Future Strip and Pads

midwest ILLINOIS Downers Grove Marshall’s at The Grove, 75th St. & Lemont Rd. 400,000 SF GLA Anchor Space Available 43,264 SF Niles Golf Glen Mart (Outparcel) Golf Rd. & Dee Rd. Meijer Up to 12,000 SF Outlot, B-T-S INDIANA Evansville Evansville Shopping Center Morgan Ave. & Boeke Rd. Rural King, Dollar General 153,000 SF GLA Indianapolis Pendleton Plaza Pendleton Pike & Shadeland Ave. Rose's Department Store - 134,797 SF GLA Anchor Space & Outlots Available Warsaw The Market Place at Warsaw U.S. Hwy. #30 & Water St. Carson's Dept. Store, Sears, Dunham's, Pier 1 180,000 SF GLA MICHIGAN Flint Former Kmart Dort Hwy.(Rte. 54) & Atherton Hwy. 92,691 SF GLA Grand Blanc Holly Rd. & I-75 Vacant Land / 22 Acres For Sale Livonia Office Depot Plaza Plymouth Rd. & Middlebelt Rd. Office Depot, Party City, Walgreens 108,820 SF GLA Muskegon Muskegon Shopping Center Henry St. & Norton Ave. 187,000 SF GLA Anchor Space Available


200+ Retail Projects MICHIGAN Port Huron Port Huron Shopping Center Howard St. & 24th St. Big Lots, Save-A-Lot, Family Dollar 118,000 SF GLA Anchor Space & Outlot Available

FLORIDA Fern Park Future Shopping Center 26 Acre Jai Alai Redevelopment Site 6405 Hwy. 17/92 & Fernwood Blvd. Near Hwy. 436 - 153,650 SF GLA

NEW

Gainesville NEW Mixed Use Development Grocery Store & Student Housing NW 13th St & University Avenue 26,000 SF Ground Floor Retail 312,498 SF Mixed Use 6-Story Bldg

Sandusky Kmart Shopping Center M-19 & Gates Rd. 176,248 SF GLA - Anchor Space Available Southgate Fort St. & Burns Ave. Vacant Land 9.37 Acres MINNESOTA St. Paul Midway Shopping Center University Ave. & Snelling Ave. Rainbow Foods, Office Max, Walgreens 280,353 SF GLA

Sanford Seminole Centre S Orlando Dr. (Hwy. 17/92) & Lake Mary Blvd. Walmart Supercenter, Ross, Aldi 370,936 SF GLA NEW

MARYLAND Hagerstown Long Meadow Shopping Center Potomac Ave. (Route 60) & Northern Ave. CVS, PA Dutch Market - 243,000 SF GLA Anchor Space/Pad Available

OHIO Ashtabula Home Depot Plaza Route 20 (N. Ridge Rd.) & Orchard Rd. 148,440 SF GLA 18,440 SF Expansion & Pad NEW

Randallstown Brenbrook Plaza Liberty Rd. &Brenbrook Dr. Home Depot - 139,000 SF GLA

Columbus Great Western Commerce Center No. Wilson Rd. & Valleyview Dr. at Broad St. Great Western Academy, Restaurant Depot 300,254 SF GLA Mixed Use Commercial Space

TENNESSEE Hermitage (Nashville) Freestanding Bldg. adjacent to Jackson’s Courtyard Shopping Center 3445 Lebanon Pike 24,040 sf GLA - Redevelopment Opportunity

Holland (Toledo) Dick’s at Spring Meadows Place Airport Hwy. & I-475 Dick’s, Best Buy & Expansion Space

Nashville Marketplace at Rivergate Gallatin Pike (Hwy. 31-E) & Conference Dr. Trees N Trends, Ryan’s Buffet 111,460 SF GLA

NEW

Oregon (Toledo) Vacant Land – 4.645 Acres Dustin Rd. & Isaac Street Dr. 1 block So. of Navarre Ave. (Rte. 2) & Kmart

south

NEW

TEXAS Ft. Worth Westcliff Shopping Center Albertson’s Market, Dollar General Alton Rd. & Biddison St. 133,332 sf GLA

ALABAMA Huntsville NEW Freestanding Walmart South Memorial Parkway & Drake Ave. SW 104,000 SF on 8.1 Acres FLORIDA Fern Park Fern Park Plaza Semoran Blvd. (Hwy. 436) & Hwy. 17/921 Ross, Beall's Outlet, Aldi, Deals 131,646 SF GLA

RDMANAGEMENT LLC

VIRGINIA Richmond Food Lion Plaza Rte. 1 (Jefferson Davis Hwy.) & Chippenham Pky. Outlots Available Winchester Freestanding Building S. Pleasant Valley Rd. & E. Jubal Early Dr. Anchor Space Available 88,479 SF GLA NEW

VIRGINIA Tolleson Freestanding Kmart West McDowell Rd. & North 86th Dr. 86,479 SF GLA WEST VIRGINIA St. Albans St. Albans Center Route 60 & MacCorkle Ave. SW Kmart, Super Kroger, Goody’s, CVS 230,000 SF GLA

west ARIZONA Phoenix Freestanding Barnes & Noble 1035 N. Metro Pkwy. West & 28th Dr. Adjacent to Metro Center Mall 19,360 SF on 1.48 Acres NEVADA Las Vegas Kmart Plaza E. Sahara Ave. & McLeod Dr. 127,754 SF GLA Anchor Space & Pad Available Las Vegas Kmart at Sunset Plaza 3780 E. Sunset Rd. & S. Sandhill Rd. Kmart - 86,479 SF GLA OREGON Salem Kmart Shopping Center Mission Street S. E. & 25th St. 116,866 SF GLA UTAH Salt Lake City 410 S. 900 E. & 400 S. Freestanding Office Max Future Redevelopment

puerto rico PUERTO RICO Arecibo Arecibo Towne Center Routes 2 & 22 Future Development Anchor Position & Outlots Available Ponce Reina del Sur; Outlots at Ponce Towne Center II Rtes. #2 & Baramaya Ave. (Rte. 10) @ PR-52 Walmart Supercenter, Home Depot New Development & Pads 525,000 ± SF GLA

Thomas G. Mirandi 212-265-6600 Ext. 239 Email: tmirandi@rdmanagement.com Fax: 212-459-9133


Outlots Available northeast MASSACHUSETTS Lowell Meadow Brook Center Plain Street & Lowell Connector Target, Marshalls, Chuck E. Cheese Pad Site Available - 271,377 SF GLA NEW JERSEY Mt. Olive Route 46 & International Dr. 16.963 Acres Vacant Land Available Adjacent to Foreign Trade Zone Across from Walmart, Sam’s, Lowe’s, TJ Maxx Parsippany Whole Foods Shopping Center Route 46 (Bloomfield Ave.) & Cherry Hill Rd. Whole Foods Anchor, In-Line & Pads Available Vineland Vineland Marketplace Delsea Drive (Route 47) & Route 55 New Development Outlots Available Kmart Plaza Expansion S. Delsea Dr. (Route 47) & Route 55 Kmart, TD Bank Two Parcels: 4.302 & 4.486 Acres Across from Cumberland Mall NEW YORK Cortland Future Development Route 13 & Bennie Road 26 Acres across from Walmart Outlots Available

NEW YORK Orangetown Orangeburg Commons Route 303 & Pallisades Parkway Super Stop & Shop, Residence Inn Pads Available PENNSYLVANIA Carlisle Home Depot Shopping Center Hanover St. (Route 34) & I-81 Home Depot, Chili’s Outlot Available up to 10,584 SF Bldg. Trexlertown Macungie Crossing Shopping Center Hamilton Blvd. (Rte. 222) & Grange Rd. Outlots Available up to 20,000 SF

midwest ILLINOIS Niles Golf Glen Mart (Outparcel) Golf Rd. & Dee Rd. Meijer Up to 12,000 SF Outlot, B-T-S INDIANA Indianapolis Pendleton Plaza Pendleton Pike & Shadeland Ave. Rose’s Department Store Former Gas Station w/ 6 Pumps & C-Store New Outlot Also Available MICHIGAN Grand Blanc Vacant Land Holly Rd. & I-75 22 Acres For Sale

Deer Park Kohl’s Plaza Commack Rd. & Grand Blvd. Kohl’s, Super Stop & Shop 182,875 SF GLA/ Future Pad Bldg.

Port Huron Port Huron Shopping Center Howard St. & 24th St. Big Lots, Save-A-Lot Outlot Available up to 2,500 SF

Latham/Colonie (Albany) Freestanding Building Route 7 & Swatling Rd. Up to 10,000 SF Outlot Available

OHIO Ashtabula Home Depot Plaza Route 20 & Orchard Rd. Outlot Available

Monroe/Woodbury Harriman Commons Routes 17 / 6 & Route 32 Walmart, Home Depot, BJ’s, Target, TJ Maxx 687,716 SF GLA Outlots Available Nanuet Home Depot Plaza Route 59 & Hutton Ave. Home Depot, Staples Outlot Available

RDMANAGEMENT LLC

Columbus Great Western Commerce Center N. Wilson Rd & Valleyview Dr. at Broad St. 300,254 SF GLA Mixed Use Commercial Space Outlots Available

OHIO Oregon (Toledo) Vacant Land; 4.645 Acres Dustin Rd. & Isaac Street Dr. One Block south of Navarre Ave. (Route 2) & Kmart

south FLORIDA Fern Park Future Shopping Center 26 Acre Jai Alai Redevelopment Site 6405 Hwy. 17-92 & Fernwood Blvd. near Hwy. 436 - 153,650 SF GLA Anchor Space & Outlots Available KENTUCKY Ashland Russell Centre Dierderich Blvd. & Route 23 Lowe’s, Super Kroger New 5,000 SF Pad Site VIRGINIA Richmond Food Lion Plaza Rte. 1 (Jefferson Davis Hwy.) & Chippenham Pky. Outlots Available

west NEVADA Las Vegas E. Sahara Ave. & McLeod Dr. Kmart Plaza 10,945 SF Pad Building UTAH Salt Lake City Freestanding Office Max 410 S. 900 E. & 400 S. New Corner Outlot Available

puerto rico PUERTO RICO Arecibo Arecibo Towne Center Routes 2 & 22 Future Development - Outlots Available Ponce Reina del Sur & Ponce Towne Center Outlots Rte. 2 & Baramaya Ave. (Rte. 10) @ PR-52 Walmart Supercenter Outlots Available

Thomas G. Mirandi 212-265-6600 Ext. 239 Email: tmirandi@rdmanagement.com Fax: 212-459-9133


SPACE PLACE Florida (continued from page seventy)

For more information, contact Gumberg Asset Management, 3200 North Federal Highway, Ft. Lauderdale, FL 33306; 954537-2700.

Illinois Chicago - A 1,020 sq.ft. corner storefront space, along with a 265 sq.ft. storage area, is available on the ground floor of a vintage apartment building at the intersection of Damen Avenue and Foster Street. The asking rent is $11 psf. For more information, contact Scott Fithian, The Lord Cos. – Retail Brokers Network Member, 1033 West Van Buren Street, 7th Floor, Chicago, IL 60607; 312944-6270, Fax 312-944-3759; Email: scott@lordcompanies.com. Collinsville – Retail spaces are available along West Belt Line Road. Area demographics include a population of 244,422 within 10 miles earning $67,081 as the average household income. For more information, contact U.S. Properties Group, 3665 Fishinger Boulevard, Hilliard, OH 43026; 614-472-2901. Dolton – Up to 10,000 sq.ft. of retail space is available at the intersection of Sibley Boulevard and Greenwood Road. The average daily traffic count is 37,000 vehicles along Sibley Boulevard. For more information, contact Paul Tsakiris or Kellen Duggan, First Western Properties, 773-545-2000 Ext. 80/89; Emails: paul@1stwesternproperties.com and kellen@1stwesternproperties.com. Peoria – Grand Prairie Developments, located at the intersection of War Memorial Drive and Route 91, has outlots from 0.6 to 3.96 acres available. Cotenants include Bergner’s, HyVee Supermarket, Dick’s Sporting Goods, Marshall’s, Dress Barn, Old Navy, DSW, Coldwater Creek and Banana Republic. Area demographics include a population of 64,195 within five miles earning $86,288 as the average household income. Quincy – Quincy Mall, a 542,462 sq.ft. center located at the intersection of Broadway Street and 33rd Street, has spaces available. Cotenants include Bergner’s, JC Penney, Sears, AMC Theatres, Petco, rue 21, Victoria’s Secret, Finish Line, The Buckle, Bath & Body Works, Justice and Famous Footwear. Area demographics include a population of 50,314 within five miles earning $58,418 as the average Dealmakers Magazine | www.dealmakers.net

Illinois

Indiana

household income. For more information regarding Grand Prairie Developments, contact Mike Puritz, Kim LeHew or Kathleen Cullinan Brill, Cullinan Properties, Ltd., 2020 West War Memorial Drive, Suite 103, Peoria, IL 61614; 630-286-0179; Email: kcullinan@cullprop.com. For more information regarding Quincy Mall, contact Suzanne Williams or Kimm Minnick, 217-223-8713; Email: kminnick@cullprop.com.

Email: tholtzman@midlandatlantic.us; Web site: www.midlandatlantic.com.

Indiana Mooresville – Mooresville Town Center, located at the intersection of Bridge Street and State Road 67, has spaces from 1,200 sq.ft. to 8,800 sq.ft. available. Cotenants include AT&T, Great Clips, Above & Beyond Tanning, Liberty Tax Service and Chicago Title. Area demographics include a population of 38,624 within five miles earning $69,561 as the average household income. The average daily traffic count is 32,906 vehicles. For more information, contact Tracey Holtzman, Midland Atlantic, 317-580-9900;

Maine Belfast – Belfast Shopping Center, a 17,500 sq.ft. center located along Main Street, has a space of 2,200 sq.ft. available. Cotenants include Family Dollar, Sun Tan City, Verizon Wireless, T&T Nails and Oriental Cuisine Restaurant. Area demographics include a population of 18,703 within ten miles earning $53,299 as the average household income. The average daily traffic count is 10,000 vehicles. The asking rent is $10 to $14 psf. For more information, contact Boni LaValley, K Corp., Email: boni@kcorporation.com.

Maryland Hagerstown – Longmeadow Shopping Center, located at the intersection of Potomac Avenue and Northern Avenue, has retail spaces available for future tenants. Area retailers include Lowe’s Home Improvement and Weis Markets. Area demographics (continued on page seventy-eight)

YES!!!

We are signing leases in California, Idaho, Oregon, Washington and Pennsylvania For all inquiries, please contact: Marc Drasin or Bill Coyle VPs of Real Estate Grocery Outlet Inc. 2000 Fifth Street Berkeley, CA 94710 Email preferred: mdrasin@cfgo.com bcoyle@cfgo.com

A Grocery Outlet store requires about 17,000 square feet and we would be interested in becoming co-tenants with other value-oriented retailers. With nearly 70 years of non-stop profitability, and over $1 Billion in annual sales, Grocery Outlet is a prime candidate for the right retail environment. Over 200 locations.

www.groceryoutlet.com May 23, 2014 | Page 77


SPACE PLACE Maryland (continued from page seventy-seven)

include a population of 160,063 within 10 miles earning $69,906 as the average household income. For more information, contact Thomas G. Mirandi, RD Management, LLC, 810 Seventh Avenue, 10th Floor, New York, NY 10019; 212-265-6600 Ext. 239; Email: tmirandi@rdmanagement.com.

Massachusetts Clinton – Woodruff Plaza, located along

Massachusetts

Nevada

Main Street, has a space of 6,300 sq.ft. available. Cotenants include Shaw’s Supermarket, Family Dollar, Avidia Bank, H&R Block, Weight Watchers and Dunkin Donuts. For more information, contact Mehlich Associates, 914-793-5050.

include Albertsons, Walgreens and Goodwill. Area demographics include a population of 151,961 within five miles earning $70,794 as the average household income. The average daily traffic count is 55,500 vehicles. Also – Centennial Gateway, located at the intersection of Ann Road and US 95, has shop and anchor spaces available. Area retailers include Panda Express, Fresh & Easy, Sportsman’s Warehouse and 24 Hour Fitness. Area demographics include a population of 328,797 within five miles earning $79,483 as the average household income. The average daily traffic count is 83,500 vehicles along US 95. Also – Centennial Center, located at the intersection of Centennial Center Boulevard and Tropical Parkway, has shops spaces from 999 sq.ft. to 3,874 sq.ft. available, along with pad sites. Cotenants include Sam’s Club, Del Taco, Honey Baked Ham, Hallmark and Victory Martial Arts. Area demographics include a population of 276,366 within five miles earning $82,018 as the average household income. For more information regarding the site at the intersection of Craig Road and Decatur Boulevard, contact Dan Adamson, R.O.I. Commercial Real Estate, 7100 West Smoke Ranch Road, Suite 100, Las Vegas, NV 89128; 702-363-3100 Ext. 112, Fax 702-3630450; Web site: www.roicre.com. For more information regarding Centennial Gateway or Centennial Center, contact Jennifer Ott or Brian Sorrentino, Ext. 107/102; Emails: jott@roicre.com and brian@roicre.com.

Nevada Las Vegas – A 50,789 sq.ft. space is available at the intersection of Craig Road and Decatur Boulevard. Area retailers

Illinois / Indiana Retail Space

Properties For Sale g n i d en

Heyworth, IL

Kentland, IN

Chrisman, IL

1,500 S.F. / $595,000

2,600 S.F. / $595,000

8,000 S.F. / $370,000

• DG Anchor w/ Subway • Strip Center • Vacant Lot

• DG Anchor w/ Subway • Strip Center • Multi- Tenant

• Single Tenant Building

P

Properties For Lease Bolingbrook, IL 1051-91 Weber Rd. 8,000 S.F.

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Heyworth, IL 803 W. Cleveland St. 1,500 S.F.

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www.McCollomRealty.com Page 78 | May 23, 2014

New Hampshire Berlin – Berlin Shopping Center, a 29,932 sq.ft. strip center located along Pleasant Street, has a space of 5,200 sq.ft. available. Cotenants include IGA Supermarket, White Mountain Wireless and Rent-A-Center. Area demographics include a population of 14,399 within ten miles earning $50,828 as the average household income. The average daily traffic count is 10,000 vehicles. The asking rent is $8 to $10 psf. Colebrook – Colebrook Shopping Center, a 15,000 sq.ft. center located along Main Street, has a space of 2,000 sq.ft. available. Cotenants include Family Dollar and Lin-Jo Creations. Area demographics include a trade-area population of 40,000 earning $46,000 as the average household income. The average daily traffic count is 10,000 vehicles. The asking rent is $6 to $8 psf. North Conway – (continued on page eighty)

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www.LMS-PMA.com www.LMS-PMA.c

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Vornado 905 Loucks Road

Lebanon, PA Mixed-use New Development Breaking Ground Summer 2014

Millersville, PA Sheetz, Members 1st Federal Credit Union 1,600 - 7,000 SF Retail/Office

Bethlehem, PA ShopRite, Starbucks & Subway Delivery Early 2015 Lancaster, PA 10.7 Acres Mixed-use Development

Lancaster, PA Buffalo Wild Wings & Chipotle Opening May 2014

Carlisle, PA Dollar General & Subway 5 Commercial Outparcels Available

• Leasing • Harrisburg, PA 1,300 • 3,500 • 6,122 • 24,300 SF Weis, Gabriel Brothers & Starbucks Red Lion, PA 1,600 • 2,000 • 4,000 SF (end-cap) Giant, Dollar Tree & Wine & Spirits

Lewisburg, PA 2,000 - 23,000 SF • Pad SF Big Lots, Peebles & Advance Auto Harrisburg, PA (s eRiTage d e v.) 12,000 SF (sub-dividable) Sears, Bon-Ton & Buffalo Wild Wings

Hanover, PA York, PA 1,600 SF • 1,606 SF • 1,800 SF Pad Site 15,275 SF Giant Foods, Community Aid & Advance Auto Aldi Food Market & Ashley Furniture

Hanover, PA 1,100 - 7,000 SF + Pad Sites Target, Chipotle, Ross & PetSmart Lancaster, PA 2,037 SF • 2,798 SF Giant-to-Go & CVS/pharmacy


SPACE PLACE New Hampshire (continued from page seventy-eight)

Red Barn Shopping Center, a 35,000 sq.ft. center located along White Mountain Highway, has spaces of 1,100 sq.ft., 1,800 sq.ft., 2,300 sq.ft. and 5,300 sq.ft. available. Cotenants include Dollar Tree, Corning Outlet Store, North Conway Music Center, Close Knit Sisters and Red Barn Furniture Outlet. The average daily traffic count is 22,000 vehicles. The asking rent is $10 to $12 psf. For more information, contact Boni LaValley, K Corp., Email: boni@kcorporation.com.

New Jersey

New Jersey

Bloomfield – A&P Plaza, located along Belleville Avenue, has endcaps spaces of 1,206 sq.ft. and 2,445 sq.ft. available. A&P and Walgreens anchor the center. Area demographics include a population of 677,120 within five miles earning $63,176 as the median household income. For more information, contact Jackie Perla, Urstadt Biddle Properties, Inc., 203-8638271; Email: jperla@ubproperties.com.

Boulevard. Union Township – A 20,517 sq.ft. site is available for a long term ground lease at the intersection of Salem Road and Alden Road. Area demographics include a population of 21,065 within one mile earning $83,786 as the average household income. For more information regarding the Carlstadt property, contact Jaime Weiss, Weiss Realty, 250 Moonachie Road, Moonachie, NJ 07074; 201-615-0474; Email: jweiss@jweissrealty.com; Web site: www. jweissrealty.com. For more information regarding the Union Township property, contact Matthew Weiss, 917-309-7861; Email: mweiss@jweissrealty.com.

Carlstadt – A 3,000 sq.ft. former bank building is available along Veterans

East Windsor – Royal Plaza, a 24,750 sq.ft. neighborhood strip center located along US Highway 130, has a space of 1,850 sq.ft. available. Cotenants include CitiFinancial, City Streets Café and Dance Expo. Area demographics include a population of 78,591 within five miles earning $149,749 as the average household income. For more information, contact Charles Hirsch, Milbrook Properties, Ltd., 42 Bayview Avenue, Manhasset, NY 11030; 516-869-1240; Email: chirsch@ milbrookproperties.com. East Windsor – Town Center Plaza, located along Route 130, has inline spaces available. ShopRite anchors the center, with cotenants including dressbarn, Sleepy’s, Capital One and T.G.I. Friday’s. Area retailers include Target, Burlington Coat Factory and T.J. Maxx. The average daily traffic count is 36,232 vehicles. For more information, contact Jacobs Enterprises, Inc., 1051 Bloomfield Avenue, Clifton, NJ 07012; 973-591-5222; Web site: www.jacobs-enterprises.com. Edison – A 104,000 sq.ft. power center located at the intersection of US Route 1 and Old Post Road, has an inline space of 3,400 sq.ft. available. Cotenants include Shop Rite, Party Fair, Plato’s Closet, Monster Mini Golf, Supercuts and Let’s Yo Frozen Yogurt. Area demographics include a population of 91,549 within five miles earning $85,237 as the average household income. The average daily traffic count is 75,456 vehicles. Somerset – A 60,000 sq.ft. center located along Easton Avenue, has a space of 1,600 sq.ft. available. Cotenants include IHOP, Boston Market and Buy Rite Liquors. Area demographics include a population of 253,620 within five miles earning $92,777 (continued on page eighty-two)

Page 80 | May 23, 2014

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SPACE PLACE New Jersey (continued from page eighty)

as the average household income. The average daily traffic count is 39,112 vehicles. The asking rent is $22 psf NNN. For more information regarding the Edison property, contact Shane Wierks, Jeffery Realty, 116 Route 22, North Plainfield, NJ 07060; 908-668-9600 Ext. 223, Fax 908668-5225; Email: swierks@jefferyrealty.com; Web site: www.jefferyrealty.com. For more information regarding the Somerset property, contact William Mooney; Email: bmooney@jefferyrealty.com. Edison – Festival Plaza, a 151,000 sq.ft. center located at the intersection of Route 27 and Plainfield Avenue, has two pad sites available. Cotenants include H Mart, Picnic Garden, Paris Baguette, SKD Tofu, BBCN, Cathay Bank and China Trust Bank. Raritan – Somerville Circle Shopping Center, a 157,000 sq.ft. center located at the intersection of Route 202 and Route 28, has spaces of 5,500 sq.ft. and 6,000 sq.ft. available. Cotenants include Staples, AT&T, Toys “R” Us, P.C. Richard & Son, Panera Bread, Mandee, Five Below and Petco.

Page 82 | May 23, 2014

New Jersey

New Jersey

For more information regarding Festival Plaza, contact Marcia Minton, Levin Management Corp., 975 Route 22 West, North Plainfield, NJ 07060; 908-226-5368; Email: mminton@levinmgt.com; Web site: www.levinmgt.com. For more information regarding Somerville Circle Shopping Center, contact Jake Frantzman, 908-2265266; Email: jfrantzman@levinmgt.com.

Walmart, Sears Auto Center and Bank of America. Area draws include Meadowlands Sports Complex, Giants Stadium and Teterboro Airport. For more information, contact Silbert Realty & Management Co., Inc., 85A Division Avenue, Millington, NJ 07946; 908604-6900, Fax 908-604-2030.

Linden – Linden Commons, located along West Edgar Road, has an endcap space available, along with an anchor space. Cotenants include T.J. Maxx, Sprint, Buffalo Wild Wings and Moe’s Southwest Grill. Area demographics include a population of 129,706 within three miles earning $79,007 as the average household income. For more information, contact Matt Bloom, BKR Retail, 201-292-4647 Ext. 1, Email: mbloom@bkrretail.com. Lodi – Retail spaces are available at a twolevel, 60,000 sq.ft. neighborhood center, located along South Main Street. Cotenants include Blimpie, State Farm and Weight Watchers. Area retailers include Walgreens,

New York Albany – Target Shopping Center, located at the intersection of Saratoga Road/Route 50 and Glenridge Road, has inline spaces available. Cotenants include Target and Panera Bread. Area demographics include a population of 163,368 within seven miles earning $76,047 as the average household income. For more information, contact Thomas G. Mirandi, RD Management, LLC, 810 Seventh Avenue, 10th Floor, New York, NY 10019; 212-265-6600 Ext. 239; Email: tmirandi@rdmanagement.com. Bayside – A 2,600 sq.ft. street level space is available at the intersection of Bell Boulevard and 43rd Avenue. Area retailers include

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SPACE PLACE New York

New York

New York

Dunkin’ Donuts, 7-Eleven, Payless Shoe Sources, Lucille Roberts and Chase Bank. Area demographics include a population of 34,817 within one mile earning $76,854 as the median household income. Kew Garden Hills – A 2,000 sq.ft. street level space, with a basement, is available along Union Turnpike. Area retailers include Key Food, Verizon Wireless, Family Dollar, Auto Zone, Carvel, KFC and Papa John’s. Area demographics include a population of 90,043 within one mile earning $57,662 as the median household income. The average daily traffic count is 26,347 vehicles. Riverhead – A 123,168 sq.ft. center located along Old Country Road, has up to 5,100 sq.ft. of space available. Cotenants include Dick’s Sporting Goods, Five Below, Aldi, Buffalo Wild Wings and Christmas Tree Shops. Area demographics include a population of 31,988 within five miles earning $62,129 as the median household income. For more information regarding the Bayside property, contact Pete Spanos, Sabre Real Estate Group, LLC, 500 Old Country Road, Garden City, NY 11530; 516-8748070 Ext. 517; Email: peter@sabreny.com;

Web site: www.sabreny.com. For more information regarding the Kew Garden Hills property, contact Mark Gallucci, 516-8748070 Ext. 508; Email: mark@sabreny.com. For more information regarding the Riverhead property, contact Michael Kearney or Russell Helbling, Ext. 507/506; Email: michael@sabreny.com.

Goshen – A 3.08 acre parcel is available for ground lease at the intersection of Route 17M and South Street. Area retailers include QuickChek, CVS, H&R Block, Dunkin’ Donuts, Verizon Wireless, Subway, Burger King and Friendly’s. Area demographics include a population of 32,458 within five miles earning $90,609 as the average household income. Lagrangeville – LaGrange Commons, located at the intersection of Route 82 and Taconic State Parkway, has inline spaces available, along with a 3,500 sq.ft. pad site. Cotenants include A&P Supermarket, Happy Wok, Dollar Plus, States Grill and Top Nail. Area demographics include a population of 42,385 within five miles earning $114,610 as the average household income. Poughkeepsie – Meadowview, a 105,000 sq.ft. proposed development located along Dutchess Turnpike, has pad sites from 15,000 sq.ft. to 60,000 sq.ft. available. Area retailers include Stop & Shop, Big Lots, CVS, Walgreens, Adams Fairacre Farms, Dunkin’ Donuts, AT&T, Panera Bread, Payless Shoe Source and Burger King. Area demographics

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Bedford – Bedford Village Plaza, located along Route 22/Old Post Road, has a 1,000 sq.ft. endcap available. Area retailers include A&P, True Value, Learning Express, Citibank and Chase Bank. Area demographics include a population of 41,902 within five miles earning $219,771 as the average household income. Carmel – Meadow Plaza, a 48,000 sq.ft. neighborhood center located at the intersection of Route 6 and Stoneleigh Avenue, has spaces of 1,166 sq.ft., 1,233 sq.ft. and 20,000 sq.ft. available. Cotenants include CVS, KFC, Pagoda Kitchen, Sal’s Pizza & Pasta and Diamonds Nail & Spa. Area demographics include a population of 48,598 within five miles earning $112,120 as the average household income. The average daily traffic count is 17,290 vehicles.

(continued on page eighty-four)

May 23, 2014 | Page 83


SPACE PLACE New York (continued from page eighty-three)

include a population of 91,560 within five miles earning $75,929 as the average household income. Vails Gate – Big V Town Centre, a 242,000 sq.ft. center located at the intersection of Windsor Highway and Old Forge Hill Road, has spaces available. Cotenants include Shop Rite, Kmart, Sleepy’s, Burger King, Goodwill and Tiger Schulmann’s. Area demographics include a population of 126,331 within seven miles earning $80,830 as the average household income. The average daily traffic count is 18,790 vehicles. For more information regarding Bedford Village Plaza, contact Scott Meshil or Jeff Kintzer, Royal Properties, Inc., 850 Bronx River Road, Bronxville, NY 10708; 914237-3403 Ext. 106/103, Fax 914-237-0196; Email: scott@royalpropertiesinc.com; Web site: www.royalpropertiesinc.com. For more information regarding Meadow Plaza, the Goshen property or LaGrange Commons, contact Scott Meshil. For more information regarding Meadowview, contact Scott Meshil or Craig Benson, Ext. 105; Email: craig@royalpropertiesinc.com. For more information regarding Big V Town Centre, contact Scott Meshil or Jeanine Kemm, 914-237-3403 Ext. 111; Email: jeanine@royalpropertiesinc.com.

New York

New York

Big Flats – Big Flats Country Commons, a power center located along County Route 64, has a divisible space of 10,935 sq.ft. available. Cotenants include Target, Best Buy, Maurice’s and Panera Bread. Delmar – Delaware Plaza, located along Delaware Road, has a divisible space of 7,632 sq.ft. available. Cotenants include Hannaford, Rainbow, Dollar Tree, Payless ShoeSource and Olympia Sports. For more information regarding Big Flats Country Commons, contact Kenneth Brownell, Vanguard-Fine, LLC, 518-8620861. For more information regarding Delaware Plaza, contact Barry Feinman, 518862-0861 Ext. 202.

between West 3rd Street and 4th Street. Area retailers include Think Coffee, Blink Fitness, It’Sugar, French Connection, American Apparel, Starbucks, Duane Reade, Aldo and New York Sports Club. Also – A 4,000 sq.ft. ground floor space, a 435 sq.ft. mezzanine space, an 8,060 sq.ft. second floor space, and an 8,060 sq.ft. third floor space, are all available at a building along Madison Avenue, between 28th Street and 29th Street. Area retailers include Duravit, Minotti, Fendi, Arclinea, Natuzzi and Sliding Door Company. Also – A 1,300 sq.ft. ground floor space, with a 600 sq.ft. rear courtyard, and a 1,200 sq.ft. basement, are available along Bleecker Street, between 7th Avenue and Grove Street. Area retailers include J Press, Wink, Reiss, See Eyewear, Caudalie Paris, Café Angelique, 3NY, Five Guys Famous Burgers & Fries and Caliente Cab Co. Also – Ground floor spaces of 1,012 sq.ft., 1,300 sq.ft., 1,766 sq.ft. and 3,595 sq.ft. are available at the intersection of 30th Street and 10th Avenue. Also – A 4,880 sq.ft. ground floor space, a 4,880 sq.ft. second floor space, and a 4,880 sq.ft. lower level space, are all available at the intersection of Lexington Avenue and 56th Street. Area retailers include Bloomingdale’s, Sephora, Harley Davidson, Bloomberg, Victoria’s Secret and H&M. Also – A 3,600 sq.ft. ground floor space, a 4,000

Brooklyn – A 1,776 sq.ft. ground floor space, along with a basement and an outdoor space, are available along Flatbush Avenue, between Saint Marks Avenue and Sixth Avenue. Area retailers include Red Mango, 67 Burger, Hungry Ghost, Modell’s, American Apparel and Morgan’s BBQ. Chelsea – A 1,270 sq.ft. ground floor space is available along Seventh Avenue, between West 19th Street and 20th Street. Area retailers include Duane Reade, Spa Belles, Le Singe Vert Restaurant, Hisako Salon and Le Pain Quotidien. New York – A 4,000 sq.ft. ground floor space is available along Mercer Street,

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SPACE PLACE New York

New York

New York

sq.ft. second floor space, and a 4,000 sq.ft. lower level space, are all available along 34th Street, between 7th Avenue and 8th Avenue. Area retailers include Macy’s, Five Guys Famous Burgers & Fries, AMC Theatres, Footaction, Duane Reade and GNC. Also – A 7,500 sq.ft. ground floor space, and a 6,500 sq.ft. lower level space, are available along West 14th Street. Area retailers include Scarpetta, Solstice, Apple, Moschino, Hugo Boss, La Perla and Jean Shop. Also – A 10,000 sq.ft. ground floor space, and a 2,600 sq.ft. lower level space, are available at the intersection of 6th Avenue and West 12th Street. For more information regarding the Brooklyn property, contact Diana Boutross or Leanna Spector, Winick Realty Group, LLC, 655 Third Avenue, 8th Floor, New York, NY 10017; 212-792-2608/2610; Email: diana@winick.com; Web site: www.winick.com. For more information regarding the Chelsea property, contact Steven Baker or Ross Burack, 212-792-2636/2624; Email: stevenb@winick.com. For more information regarding the site on Mercer Street, contact Michael Gleicher or Danielle

Weissberg, 212-792-2640/2630; Email: mgleicher@winick.com. For more information regarding the Madison Avenue property, contact Steven Baker, Darrell Rubens, Ross Burack or Jeremy Schwartz, 212-792-2636/2616/2624/2639. For more information regarding the Bleecker Street property, contact Joshua Siegelman or Jeff Winick, 212-792-2613/2601; Email: jsiegelman@winick.com. For more information regarding the 30th Street property, contact Steven Baker or Ross Burack. For more information regarding the Lexington Avenue property, contact Jeff Winick or Lee Block, 212-792-2649; Email: lee@winick.com. For more information regarding the 34th Street property, contact Diana Boutross, 212-792-2608; Email: diana@winick. com. For more information regarding the 14th Street property, contact Lee Block, Jeff Winick, Melinda Miller or Kelly Gedinsky, 212-792-2649/2601/2662/2637; Email: mmiller@winick.com. For more information regarding the 6th Avenue property, contact Jeff Winick, Lee Block, Kelly Gedinsky, Darrell Rubens or Michael Gleicher, Email: kelly@winick.com.

Carmel – Carmel ShopRite Center, a 129,000 sq.ft. center located along Route 52, has spaces available. Cotenants include ShopRite, Cinema 8, Rite Aid and Gold’s Gym. Area demographics include a population of 44,600 within five miles earning $95,183 as the median household income. For more information, contact Carl Wunderlich, Urstadt Biddle Properties, Inc., 203-863-8219. Commack – Commack Shopping Center, located at the intersection of Jericho Turnpike and Veterans Memorial Highway, has spaces available. Cotenants include Macy’s, Michaels, Petco, Lucille Roberts, Joyce Leslie, Jenny Craig, Harmon Face Values and Five Guys Famous Burgers & Fries. Area demographics include a population of 197,491 within five miles earning $128,033 as the average household income. Elmont – Home Depot Shopping Center, a 269,490 sq.ft. center located along Hempstead Turnpike, has a space of 5,000 sq.ft. available. Cotenants include The Home Depot, Marshalls, Office Max, (continued on page eighty-six)

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Dealmakers Magazine | www.dealmakers.net

May 23, 2014 | Page 85


SPACE PLACE New York (continued from page eighty-five)

GNC and Applebee’s. Area demographics include a population of 881,801 within five miles earning $96,809 as the average household income. The average daily traffic count is 34,639 vehicles. Glen Oaks – Glen Oaks Shopping Center, a 187,650 sq.ft. center located at the intersection of Union Turnpike and 255th Street, has a space of 1,517 sq.ft. available. Cotenants include Waldbaum’s, Duane Reade, Mandee, Sleepy’s, McDonald’s, Rite Aid, T-Mobile, Petland and Subway. Area demographics include a population of 767,114 within five miles earning $105,824 as the average household income. The average daily traffic count is 24,597 vehicles along Union Turnpike. Levittown – Kohl’s Plaza|Nassau Mall, located at the intersection of Hempstead Turnpike and Hamlet Road, has spaces available. Cotenants include Kohl’s, BJ’s Wholesale Club, Best Buy, Michaels, LA Fitness, Five Below, Carter’s, Famous Footwear, PetSmart, Party City, Dress Barn and Game Stop. Area demographics include a population of 443,896 within five miles earning $150,410 as the average household

New York

New York

income. The average daily traffic count is 50,360 vehicles along Hempstead Turnpike. New York – A 2,400 sq.ft. ground floor space, and a 1,370 sq.ft. ground floor space, are available at the intersection of East 84th Street and 3rd Avenue. Area retailers include Ann Taylor Loft, Chipotle, CVS, H&M, Duane Reade and Radio Shack. Also – A 650 sq.ft. ground floor space and a 3,110 sq.ft. ground floor space are available at a building located at the intersection of 7th Avenue and 31st Street. Cotenants include Harrington’s Bar & Grill and Starbucks. Also – A 2,310 sq.ft. ground floor space is available at a building located at the intersection of 9th Avenue and 31st Street. Cotenants include Avon, Dunkin’ Donuts and H&R Block. Sayville – A building located at the intersection of Montauk Highway and Benson Avenue, has spaces of 2,150 sq.ft. and 9,382 sq.ft. available, which can be combined. Cotenants include Scottrade. Area demographics include a population of 45,601 within three miles earning $107,898 as the average household income. West Hempstead – An 8,421 sq.ft. center located at the intersection of Hempstead Turnpike

and Osborne Road, has spaces from 2,460 sq.ft. to 5,160 sq.ft. available. Area retailers include Sterling Optical, Stop & Shop, Rite Aid, Dress Barn and Radio Shack. Area demographics include a population of 661,776 within five miles earning $106,517 as the average household income. For more information regarding Commack Shopping Center, Home Depot Shopping Center, Kohl’s Plaza|Nassau Mall or the 9th Avenue and 31st Street property , contact Randall Briskin, The Feil Organization, 7 Penn Plaza, New York, NY 10001; 212563-6557 Ext. 218; Email: rbriskin@feilorg.com; Web site: www.feilorg.com. For more information regarding Glen Oaks Shopping Center, the East 84th Street property, the Sayville property or the West Hempstead property, contact Nicholas Forelli; Email: nforelli@feilorg.com. For more information regarding the 7th Avenue and 31st Street property, contact Brian Feil or Randall Briskin. Dix Hills – DSW Center, a 54,000 sq.ft. power center located at the intersection of Deer Park Avenue and Jericho Turnpike, (continued on page eighty-eight)

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SPACE PLACE New York (continued from page eighty-six)

has an 8,900 sq.ft. endcap available. Cotenants include Retro Fitness and DSW. Area demographics include a population of 219,000 within five miles earning $107,000 as the average household income. The asking rent is $24 psf. For more information, contact Dennis McCoy, NAI Long Island, 3 Huntington Quadrangle, Suite 307-N, Melville, NY 11747; 631-270-3029, Fax 631-270-3088; Email: dmmcoy@nailongisland.com; Web site: www.nailongisland.com. Hampton Bays – Tiana Shopping Center, an 80,878 sq.ft. center located along West Montauk Highway, has spaces of 2,500 sq.ft. and 11,000 sq.ft. available. Cotenants include Wild by Nature, Dollar Tree, Planet Fitness, Moe’s Southwest Grill, HSBC and Radio Shack. Area demographics include a population of 37,087 within seven miles earning $99,018 as the average household income. Southampton – A strip center located along Sunrise Highway, has spaces from 1,289 sq.ft. to 2,289 sq.ft. available. Cotenants include Blue Collar Bar, Melrose East Pizza, Goldbergs Bagel, Manorville Landscaping and Nature’s Garden. Area demographics include a population of 10,012 within three miles earning $184,180 as the average household

New York

Ohio

income. The average daily traffic count is 23,700 vehicles. For more information regarding Tiana Shopping Center, contact Robert Delavale, Breslin Realty, 500 Old Country Road, Garden City, NY 11530; 516-741-7400 Ext. 230; Email: rdelavale@breslinrealty.com; Web site: www.breslinrealty.com. For more information regarding the Southampton property, contact Richard MacDougall, Ext. 263; Email: rmacdougall@breslinrealty.com.

anchor the center, with cotenants including Chick –fil-A, Steak N Shake, Buffalo Wild Wings and Maurices. Austintown – Westgate, a neighborhood shopping center located along Mahoning Avenue, has a divisible space of 5,700 sq.ft. available. For more information, contact William Kutlick, Kutlick Realty, LLC, 330-965-6500; Email: bkutlick@kutlickrealtyllc.com.

New York – A 2,500 sq.ft. ground floor space, with a 1,850 sq.ft. basement, is available along Manhattan Avenue, between Calyer Street and Meserole Avenue. Area retailers include Payless Shoe Source, Rite Aid, Chase Bank, Associated Supermarket, Rainbow, Radio Shack, GNC, T-Mobile and Sleepy’s. For more information, contact Adam Langer or Sean Philipps, Zelnik & Co., LLC, 424 Madison Avenue, New York, NY 10017; 212-223-2200, Fax 212-223-0004; Email: adam@zelnikco.com; Web site: www.zelnikco.com.

Ohio Aurora - Shops at Marketplace, a 379,435 sq.ft. center located along Marketplace Drive, has spaces available. Home Depot and Target

Eastlake – A center located at the intersection of Vine Street and East 343rd Street, has spaces from 2,650 sq.ft. to 14,550 sq.ft. available. Cotenants include Advance Auto Parts. Area retailers include Walmart Supercener and Captain’s Stadium. Area demographics include a population of 114,872 within five miles earning $58,734 as the average household income. For more information, contact Steve Passov, Passov Real Estate Group, 216-8318100; Email: spassov@passovgroup.com; or Amy Doroba, Kowit Real Estate, 216-5141400; Email: adoroba@kowitrealestate.com.

Pennsylvania Lancaster – Route 30 Restaurant Park, a 21,503 sq.ft. center located along Lincoln Highway East, has a space of 1,488 (continued on page one hundred)

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LATINOS CREATING SHOPPING CENTERS TO MEET THEIR NEEDS continued from page sixteen over a store catering to the local Latino market. In 2002, members of the Anaheim City Council opposed the opening of a Mexican-based grocery chain, Gigante, because it was “too Spanish.” This incident embodies the struggle that some retailers have faced when growing their chains. Now, more and more retail chains and redeveloped shopping centers cater to Latino customers. The Latino population is helping to strengthen the economy and Latino-centric retailers are filling spaces that were once vacant. Helping to finance this growing trend, the FreshWorks Fund awarded NorthGate Gonzalez, LLC, a $20 million loan to open a supermarket in the City Heights neighborhood of San Diego, California. Jose De Jesus Legaspi is the grandfather of redeveloping shopping centers devoted to Latinos. Founder and president of The Legaspi Company, Legaspi has more than 30 years of Hispanic retail marketing experience and leased 10 Latino-oriented shopping centers throughout Arizona, California, Georgia, Oklahoma and Texas.

Plaza Fiesta in Atlanta, GA features 280 stores

In 2005, Legaspi transformed a struggling mall into Plaza Fiesta, a center that specifically targets the growing Latino population of Atlanta, Georgia. The Latino population in the area nearly tripled between 1990 and 2000. Plaza Fiesta features 280 stores, including Mercado Fesca, a Latino and Asian supermarket, Ross Dress for Less, Shopper’s World, Planet Fitness, a dentist’s office, hairdresser and money wiring service, which is vital because many Latino families send money back to their families in other countries. The center has more than four million visitors annually. Area demographics include a population of two-million within 15 miles, of which 15 percent is Hispanic while the immediate trade-area population is 31% Hispanic and the average household income is $75,229. Legaspi has also successfully repositioned shopping centers for the Latino market in several other cities. For a shopping center to successfully draw Latino customers, Legaspi has found the key ingredients to be a music venue or other cultural anchors, a focus on families and an experience for the shoppers. A plaza that is able to double as an entertainment venue has the ability to attract Latino families on weekends, especially on Sundays. This is because there is a great emphasis in the Latino culture to gather at plazas with family members to enjoy music and each other’s company. Many Latino-oriented shopping centers are filled with Spanishspeaking retailers. A majority of businesses are mom-and-pop Page 92 | May 23, 2014

enterprises intertwined with regional and national retailers. According to Lizette Borbon-Iskhakova, “The tenant mix for Latino-centric shopping centers often includes Walmart Neighborhood Center, CitiTrends, Blast Fitness and Stage.” Sanchez went on to explain that dollar stores, automotive suppliers and cell industries also cater to Latinos. “These companies have spent huge amounts of money on research and understand the Hispanic demo and the high rate of usage that Hispanics have in their industry. Most of the large companies have realized that that the Hispanic markets are the fastest growing and they don’t want to be left behind. Verizon and T-Mobile are good examples,” said Sanchez. Legaspi, along with Art Coppola, CEO of Macerich, noted that to ensure a shopping center experience, the shopping center’s marketing efforts should include Latino holidays and “legacy events,” including Cinco de Mayo, Day of the Dead, Three Kings and Mother’s Day. Since Latinos are so rooted in culture, this is a necessity for the centers if they want to thrive. Coppola has witnessed this success with Desert Sky Mall, an 892,642 square foot mall in Phoenix, Arizona. The project is anchored by Curacao, Sears, Burlington Coat Factory, Dillard’s and Cinema Latino. Curacao operates 12 units catering to Latino customers with locations in Arizona and California. Most locations are in the 100,000 square foot range. Its merchandise includes electronics, televisions, mobile phones, cameras, furniture, kitchen appliances, table top accessories, home décor items, tools, gardening supplies, furniture and accessories for infants, jewelry, cosmetics and sporting goods. The company also exports merchandise to Mexico, Taiwan and Korea. In addition, it offers financial, travel and phone services. The mall’s tenant mix is also heavily Latino-centric with apparel retailers carrying uniforms, quinceanera, bridal and formal wear, as well as childrenswear. Upon repositioning, the mall’s NOI doubled during the past 10 years. Arizona represents $31 billion of Hispanic purchasing power and Phoenix, which is the eighth largest Latino market in the country, boasts a trade-area population of 1.9 million Latinos with an annual buying power of $21 billion. Legaspi also revived Panorama Mall in Panorama City, California. The center is anchored by Curacao, Walmart and Forever 21. Area demographics include a population of 223,298 within five miles, of which 73% are Hispanic. Some of Legaspi’s other shopping center redevelopments include: • La Gran Plaza, a Hispanic-themed mall, was acquired by Legaspi in 2004 as a dead mall. The one-million square foot center, located in Ft. Worth, Texas, reached a 90 percent occupancy factor. Area demographics include a population of 2.02 million within two miles, 32 percent of which is Latino. The mall receives 61,000 weekend visitors and features El Mercado, a 120,000 square foot marketplace that houses local merchants and includes a children’s play area. Burlington Coat Factory anchors the center. Cotenants include Citi Trends and Factory 2 U, a Latino-oriented chain owned by National Stores, Inc. • Las Flores is a 350,000 square foot shopping center in North Las Vegas, Nevada. A 100,000 square foot Curacao store anchors the center. The population is 84 percent Hispanic within a one-mile radius. (continued on page ninety-four)

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LATINOS CREATING SHOPPING CENTERS TO MEET THEIR NEEDS continued from page ninety-two • PlazAmericas, located in Houston, Texas, is a 638,000 square foot center anchored by Burlington Coat Factory, Ross Dress for Less and CVS. The center also features an arcade, cinema and pool hall. The population is 55 percent Hispanic within three miles. Struggling malls and shopping centers are finding renewed success with the introduction of Latino businesses. Osceola Square Mall in Kissimmee, Florida is being transformed into Plaza del Sol, a “Latin Village” by Toronto-based Bay Shore Capital and will host Salsa concerts and other events. Fallas clothing store and Grand Mart, a Hispanic grocer, will anchor the project. Fallas, established in 1962, is a Latino-oriented family apparel chain with more than 200 locations throughout Arizona, California, Florida, Illinois, New Mexico, Nevada and Texas. The mall will also feature micro-retailing and incubation, where small booths are offered to entrepreneurs and enabling Latinos to operate their own businesses at an “artisan” village for low-cost entries. Monthly rent for a 10 foot by 10 foot booth will start at $450. A shopping center in Vineland, New Jersey is being redeveloped by Axios Enterprises, LLC and is on target to tenant 20 shops for its Latino customer base, including a pastry shop, meat market, candy store, bridal shop and clothing retailers. A former Kroger in Nashville, Tennessee is being redeveloped into Plaza Mariachi – Music City, a shopping venue for Latinos. Mark Janbakhsh, owner of two Latino-format radio stations, is spending more than $3 million to redevelop the center, on top of the $1.9 million he already paid to acquire the former Kroger. Janbakhsh plans to move his radio stations to the mezzanine floor of the center to provide mariachi music for entertainment. A supermarket is planned to anchor the site. Not only are Latino shopping centers blossoming, Latino supermarkets and other retailers are achieving success and expanding nationwide. Ethnic supermarkets represent only five percent of the entire grocery industry, but their growth rate has outperformed the rest of the industry. Their revenue has increased by 25 percent during the past decade to nearly $28 billion, according to IBISWorld. This is in comparison to the $518 billion in sales that the rest of the supermarket industry has experienced, which is a mere two percent in revenue growth. In California, Vallarta Supermarkets, with more than 40 stores, recently opened a location along Main Street in Hesperia. Northgate Market, an Anaheim-based chain of grocery stores operates 37 locations, recently acquired two Long Beach, California stores from K.V. Mart Co. In San Diego, the company opened a 36,000 square foot supermarket that anchors Mercado del Barrio, an 85,000 square foot retail site redeveloped by Shea Properties and tenanted with Tocumbo Ice Cream, Little Caesar’s Pizza, Fathom CrossFit and Asia Wok. Northgate, like many other chains catering to Latino customers displays televisions to entertain families while they shop. The company plans to open three to five new stores annually and, through a bankruptcy approved sale, also acquired the 11-unit Pro’s Ranch Market chain for $55 million in a partnership with Cardenas Markets, a 29-unit chain operating stores in California and Nevada. Mi Pueblo operates 21 ethnic supermarkets in California and Chavez Supermarkets has nine locations in the Bay Area. El Super Grocery, a chain with 45 locations, is expected to open a 43,000 square foot store in Escondido, California. The company was projected to Page 94 | May 23, 2014

generate $1.2 billion in sales during 2013, according to Supermarket News. Argent Retail Advisors recently inked a lease with Fresca, a Latino supermarket, for anchor space at Anaheim West Plaza, a 75,000 square foot center in Anaheim. Another major player is Bravo Supermarket, which operates 70 locations throughout Connecticut, New Jersey, New York, Pennsylvania and Rhode Island, as well as 16 stores in Florida. The stores occupy spaces of 7,000 square feet to 25,000 square feet. Not only are large regional Latino chains expanding, so are smaller mom-and-pop stores. La Mexicana Super Market, a locally family-owned-and-operated chain, recently opened an 11,000 square foot store in Wenatchee, Washington. Not only is a music/entertainment venue needed for the success of a shopping center catering to Latinos; the tenant mix has to fit the needs of the shoppers. Other retailers catering to Latinos include Pizza Patron, an 89-unit restaurant chain located mostly in Texas, which grew from four locations to more than 100 in 10 years. The chain experienced record sales in 2013 of $39.4 million. Plans call for 25 openings this year, with 20 locations to open in the Dallas-Ft. Worth, Texas area. Shasa, a Mexican apparel company, offering clothing, footwear and accessories for women, operates locations throughout Mexico and Arizona, California and Texas. Navarro Discount Pharmacy operates 28 locations throughout MiamiDade, Florida and holds a 17 percent share in the southern Florida market with annual sales in excess of Pizza Patron experienced record sales $320 million. The company, in 2013 of $39.4 million which is the largest Hispanicowned pharmacy chain in the U.S., occupies spaces of 9,000 square feet to 32,000 square feet and has plans to open additional locations this year. FAMSA USA, offering furniture, home décor and electronics, operates 45 locations throughout Illinois and Texas, as well as 350 stores in Mexico. The company, offering home delivery and assembly, recently opened a 22,000 square foot location at the 45-acre Florin Towne Centre in Sacramento, California. Walmart Supercenter, 24 Hour Fitness and Old Navy anchor the center. Grupo Famsa also operates 290 bank locations in Mexico under the trade-name Banco Ahorro Famsa. National Stores, Inc. operates under the trade-names Fallas Paredes, Fallas Discount Stores, Fallas Kids Stores and Factory 2U. The chain operates locations in power and specialty centers, downtown areas and smaller communities. Like Fallas, most apparel chains catering to Latinos carry uniforms due to the high proportion of the population attending parochial schools. Lease negotiations need to take into account Latino culture and social standards in order to be successful with doing business in the community. (continued on page one-hundred two)

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THE DEALMAKERS STATE OF THE INDUSTRY 2014 (continued from page fourteen)

consistent growth, as the chain has grown by at least 250 units annually for the past six years. The Learning Experience is another example of an established chain that has seen a year-over-year franchise growth at a rate exceeding 30 percent for the past four consecutive years. The following six franchised chains aggregately opened nearly 3,000 locations between mid-2012 and mid-2013: Subway, 7-Eleven, Dunkin Donuts, Great Clips, Bricks 4 Kidz and Jimmy John’s Gourmet Sandwiches. According to the International Franchise Association (IFA) Educational Foundation’s report, The Franchise Business Economic Outlook: 2014 second quarter update shows that “The franchise industry will create more jobs and grow at a faster rate in 2014 than the national economy and contribute more to the U.S. GDP than the industry did in 2013.” According to IHS, the Franchise Business Index (FBI), “The growth in the number of franchise businesses in 2014 is expected to rise to 1.7 percent from 1.4 percent in 2013. This will match projected nationwide business formation for 2014 and will result in 12,510 new establishments.” TOP 10 STATES WITH PROJECTED RETAIL GROWTH 1 6 7

10

5

2

8

4 9

3

Growth is happening, but not all regions of the country are experiencing a surge in new store openings. According to the 2,000 retail chains surveyed by The Dealmakers, the areas most targeted for growth include the New York, New Jersey and Connecticut markets, in addition to Florida and California, as well as the Maryland, Virginia and Washington, DC region, along with Illinois, Pennsylvania and Texas. Daniel Taub, COO of DLC Management Corp., noted “Bottom line, the economy recovery is still very inconsistent; very micro-market dependent, even within MSAs.” Jamie Weiss, President of Weiss Realty, leases retail sites and shopping centers in New Jersey and he is seeing lots of activity with many of his centers at full occupancy. Shindleman noted that retailers are not only expanding throughout the U.S., they are expanding in Canada as well. “Canadian shopping center developers have garnered the attention of stateside chains with the influx of Walmart, Target and Nordstrom stores. American-based retail stores are not only aggressively expanding in Canada, they are also being creative with sourcing new locations in more denselypopulated urban markets within the region,” Shindleman explained. Lanyard with a national perspective as the President of Retail Brokers Network stated, “All 75 member brokerage firms of the national Retail Brokers Network have reported huge increases in deals being consummated in their markets and 2013 far exceeded their projections as the markets improved. Also, we are seeing a tremendous activity of medical users taking traditional retail space in shopping centers. Medical uses, such as emergency clinics, pediatric centers, vein clinics and dental clinics are opening locations nationwide. In the past, retail landlords were not receptive to medical uses, but when the economy turned for the worse six years ago, they began accepting medical tenants.” Dealmakers Magazine | www.dealmakers.net

Most of the leasing activity and new store growth is from tenants using freestanding locations. Approximately 30 percent of the respondents to The Dealmakers survey of 2,000 retail chains prefer freestanding and pad sites. Cherney explained, “With the cost of money so low, I am seeing more tenants that just want a ground lease and build their own building.” Cram sees outparcel development of two or three tenant centers becoming more and more prevalent. He explained, “The tenants that used be inline with the big boxes now want to be in front of them on the outparcels. Plan to see more Starbucks/mattress store or Chipotle and cell store type combo centers in the future. The benefit for the tenants is that they have the visibility of a freestanding unit with lower rents and shorter lease terms than single tenant facilities.” Another 20 percent of the respondents occupy strip centers; 14 percent prefer urban sites and 12 percent utilize power centers. Over the past four years, The Dealmakers has tracked a continual decline in retail chains opening stores in malls. This year, only eight percent of the chains were seeking mall locations compared to 10% during 2010, and the results also show a consistent declining interest in lifestyle centers. During the recession, most chains worked hard to lower occupancy costs and part of that equation was to downsize their store footprint. The sweet spots for store footprints of the 2,000 retail chains surveyed were 800 square feet to 6,000 square feet, with 61 percent of the respondents preferring to occupy small shop space. Landlords are reacting positively to retailers renewed demand for space. “Construction spending for commercial and industrial properties is expected to increase by 10.3 percent this year, and 10.8 percent Shindico is developing Westport Festival in in 2015,” according to Winnipeg, Canada the American Institute of Architects. In markets with high demand for retail, such as Houston and the Dallas/Ft. Worth metro-plex, construction of speculative retail space is also part of the pipeline for new shopping center development. Nationwide, most of the shopping centers, underway or expected to break ground this year are strip centers, often with a grocery store anchor. As a provider of gap equity financing, Cram says “We have seen the level of inquiries for new development increase significantly this spring. We believe this trend will continue to increase through at least 2015 due to the lead times required to open new stores.” Cherney explained, “Kin Properties is actively negotiating with anchor tenants for properties that will be substantially rehabbed or torn down to make way for new projects.” Shindico is developing Grant Park Pavilions, a one million square foot in-fill project, and Westport Festival, a one million square foot mixed-use project in Winnipeg, Canada. According to Shindleman, “Shindico also has two million square feet of development in its pipeline. The company is currently preleasing four retail projects with GLAs exceeding 300,000 square feet; four shopping centers under 200,000 square feet, along with pad sites and service strips in the 40,000 square foot range.” Tsakiris is also preleasing retail space with a 10,000 square foot strip center underway in Chicago’s south shore neighborhood and a mixed-use site with ground-floor retail on the northwest side of Chicago. As existing space continues to be absorbed, landlords are more often leasing space at higher rents. Shopping center vacancy rates in 60 major U.S. cities fell to 8.6 percent by the end of 2013, according to Cassidy (continued on page one hundred-two)

May 23, 2014 | Page 99


SPACE PLACE Pennsylvania (continued from page eighty-eight)

sq.ft. available, along with a 2,420 sq.ft. freestanding building. Cotenants include IHOP, Applebee’s and Texas Roadhouse. Area demographics include a population of 21,001 within three miles earning $78,581 as the average household income. The average daily traffic count is 41,000 vehicles. Also – Bridgeport Plaza, a 32,485 sq.ft. center located along Lincoln Highway East, has spaces available. Area demographics include a population of 153,110 within five miles earning $64,308 as the average household income. Manheim – Manheim Shopping Center, a 129,349 sq.ft. center located at the intersection of Doe Run Road and Stiegel Valley Road, has a space of 1,680 sq.ft. available. Cotenants include Weis Markets, CVS, Longnecker’s True Value, Rita’s Water Ice, AT&T and Fulton Bank. Area demographics include a population of 44,270 within five miles earning $78,335 as the average household income. The average daily traffic count is 15,000 vehicles. For more information regarding Route 40 Restaurant Park, contact Joseph Deerin or Patrick Cullen, LMS Commercial Real Estate - Retail Brokers Network Member, 120 North Pointe Boulevard, Suite 301, Lancaster, PA 17601; 717-5699373 Ext. 905/901, Fax 717-560-9909; Email: jrdeerin@lms-pma.com; Web site: www.lms-pma.com. For more information regarding Bridgeport Plaza, contact Joseph Deerin or Wilay Boensch, 717-569-9373 Ext. 616; Email: wboensch@lms-pma.com. For more information regarding Manheim Shopping Center, contact Wilay Boensch. Philadelphia – One & Olney Square, a 356,000 sq.ft center located at the intersection of East Olney Avenue and US Route 1, has spaces available, along with a pad site. Cotenants include Conway, Modell’s, Dollar Tree, Rainbow, Shop Rite and Anna’s Linens. Area demographics include a population of 824,397 within five miles earning $55,126 as the average household income. For more information, contact Nicholas Forelli, The Feil Organization, 7 Penn Plaza, New York, NY 10001; 212-563-6557 Ext. 275, 212-563-6657; Email: nforelli@feilorg. com; Web site: www.feilorg.com.

South Carolina Greenville – Westowne Shopping Center, located along Farrs Bridge Road, has a 10,400 sq.ft. former Dollar General space available. Cotenants include Bi-Lo, Roses, AutoZone and Cash America. Area demographics include Page 100 | May 23, 2014

South Carolina

Utah

a population of 102,772 within five miles earning $47,708 as the average household income. Travelers Rest – Shops of Travelers Rest, located along Benton Road, has spaces from 1,330 sq.ft. to 1,400 sq.ft. available. Walmart Supercenter is adjacent to the site. Area demographics include a population of 96,769 within seven miles earning $51,209 as the average household income. For more information, contact Carolina Holdings, Inc., 40 West Broad Street, Suite 410, Greenville, SC 29601; Web site: www.choldings.com.

Banker Commercial Intermountain, 6550 South Millrock Drive, Suite 200, Salt Lake City, UT 84121; 801-947-8300, Fax 801947-8301; Email: rich.robins@coldwellutah.com; Web site: www.coldwellutah.com.

Walterboro – Walterboro Plaza, located along Bells Highway, has junior anchor space available. Cotenants include Belk, CitiTrends and Hibbett Sporting Goods. Area demographics include a population of 14,190 within five miles earning $44,371 as the average household income. For more information, contact U.S. Properties Group, 3665 Fishinger Boulevard, Hilliard, OH 43026; Web site: www.uspginc.com.

Virginia Hampton – Coliseum Square, located at the intersection of Coliseum Drive and Cunningham Drive, has spaces available. Cotenants include Sleepy’s, Firehouse Subs, Batteries Plus and Dental Dreams. Area demographics include a population of 366,715 within 10 miles earning $63,435 as the average household income. For more information, contact Olshan Properties, 600 Madison Avenue, 14th Floor, New York, NY 10022; 212-935-1330; Web site: www.olshanproperties.com.

Burleson – Burleson Commons, a 79,828 sq.ft. center located at the intersection of FM 731 and SH 174, has junior anchor spaces available, as well as build-to-suit opportunities. Cotenants include CVS, The Little Gym, Peter Piper Pizza, Marble Slab Creamery, Qdoba, Panda Express, Smashburger and Roscoe’s BBQ. Area demographics include a population of 68,662 within five miles earning $72,800 as the average household income. The average daily traffic count is 53,000 vehicles. For more information, contact Vic Ambrosio, Cullinan Properties, Ltd., 2020 West War Memorial Drive, Suite 103, Peoria, IL 61614; 630-286-0132; Email: vambrosio@cullprop.com; Web site: www.cullinanproperties.com; or SRS Real Estate Partners, 3400 Peachtree Road, Suite 1100, Atlanta, GA 30326; 404-231-2232.

Petersburg – Walnut Hill Plaza, located at the intersection of South Crater Road/ Route 301 and South Boulevard, has spaces available. Cotenants include Save-a-Lot, Citi Trends, Butterworth’s Furniture, Maxway and Simply Fashion. Area demographics include a population of 67,270 within five miles earning $54,034 as the average household income. Richmond – Shoppes at TJ Maxx on West Broad, located along West Broad Street, has spaces available. Cotenants include T.J. Maxx, David’s Bridal, Once Upon a Child, Plato’s Closet and Sushi King. Area demographics include a population of 198,031 within five miles earning $92,981 as the average household income. The average daily traffic count is 48,000 vehicles. For more information regarding Walnut Hill Plaza, contact Angelica Beltran, Wheeler Real Estate Co., 2529 Virginia Beach Boulevard, Suite 200, Virginia Beach, VA 23452; 757-627-9088; Email: angelica@wheelerrec.com; Web site: www.wheelerint.com. For more information regarding the site in Richmond, contact George Fox, Email: george@wheelerrec.com.

Utah

Wisconsin

West Jordan – A 55,922 sq.ft. freestanding former Albertson’s is available along South Redwood Road. Area retailers include Del Taco, Payless Shoe Source, Wendy’s, Dollar Tree, Petco, Target, Office Depot and Smith’s. Area demographics include a population of 374,328 within five miles earning $68,178 as the average household income. For more information, contact Rich Robins, Steve Bowler or Heath Bogden, Coldwell

Cudahy – A 3,000 sq.ft. space is available along South Packard Avenue. Area retailers include CVS, Kmart, Aldi and Dunham Sports. Area demographics include a population of 140,914 within five miles earning $60,684 as the average household income. For more information, contact Jeff Ross or Len Weiselberg, Kin Properties, 185 Northwest Spanish River Boulevard, Boca Raton, FL 33431; 888-546-7767 Ext. 123/112; Email: jross@kinproperteis.com. DM

Texas

Dealmakers Magazine | www.dealmakers.net


Over 5,000

retailers lOOking fOr lOcatiOns How accurate is the information? Online information is updated daily. The CD-ROM is burned the day of your order. All listings are verified by phone, mail or fax with the retailer and updated in the past nine months. What types of chains are in TenantSearch? Tenant Search includes national and regional chains in addition to local chains with 60+ types of retail uses. Can the info be used with other software? All information on the CD-ROM can be exported into Excel, ACT, Access and Ascii. All information from searches online can be saved to your hard drive. Do I need any other software? You can use TenantSearch’s self-loading CD-ROM to print reports, labels and letters; look up by name, use, store size, etc., plus you can save searches. You can use any Web browser online, access up-todate information, print letters and save searches. Get the details on over 5,000 retailers. TenantSearch provides: Contact Name for Director of Real Estate or Tenant Rep; Parent Company; Trade Name(s); Address; Phone; Fax; Email; Web site; Number of Stores in the Chain; States where the stores operate; Projected store openings in the next 18 months; States of interest for new sites; description of merchandise; Customer profile and competition; Demographic requirements; Preferred type of site; Lease terms; Preferred cotenants.

Try a Demo to See for Yourself How Easy TenantSearch is to Use! Just call us for a demo on CD-Rom or go online at www.tenantsearch.com

Daily Email Alerts Retailer expansion plans are updated daily and TenantSearch users receive leads daily via email for online users. TenantSearch matches ideal tenants to your site. Simply plug in the parameters of your retail property and retail uses you desire, and within seconds you’ll have a list of prospective tenants for your location.

Call 1-800-732-5856 or visit our website at www.tenantsearch.com

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LATINOS | CREATING SHOPPING CENTERS TO MEET THEIR NEEDS

STATE OF THE INDUSTRY 2014

(continued from page ninety-four)

(continued from page ninety-nine)

“Latino owned companies tend to focus more on having family members be or become part of the Latino owned company. They give high priority to family and usually have strong bonds between them. You see businesses succeed for this reason,” explained Marcela Houser. “Everyone works together for a common goal. Latino negotiations are usually not so detail oriented and when an issue comes up that was not contemplated in the negotiation, they tend to deal with it in a more informal and creative approach,” she added.

Turley’s spring 2014 National Retail Review. Strip centers and freestanding buildings are being released at a faster pace than any other type of shopping venue. Malls are showing the weakest level of absorption rate of all retail real estate categories. According to CBRE Group, Inc. “The U.S. retail availability rate declined 10 bps to 11.9 percent in the firstquarter of this year, marking the first time retail availability has been below 12 percent since 2009.” CBRE forecasts that the availability rate for neighborhood and community shopping centers will decline to 10.6 percent in 2014. Cram states, “Vacancies mirror the country’s income and demographic trends. Where there’s income and population growth, vacancies are near or below the local unemployment rates and where there’s not growth, then vacancies are at or above local employment rates.”

Sanchez explained that landlords and brokerage companies need to be able to cross cultural and language barriers when it comes to handling transactions with mom-and-pop businesses. “We have seen the landlords reach out to consultants and brokerage firms that have bilingual agents. We have also seen landlords look to hire real estate professionals that can help them fill this void,” said Sanchez. According to Sanchez, “It is also important for brokers to have an intrinsic knowledge of this ethnic group because problems can arise for both tenants and landlords. Often times, a Latino tenant will sign a lease without understanding it and fix plumbing, lighting and other problems themselves without receiving TI or free rent, which puts them in an awful economic situation. On the landlord side, first generation Hispanic tenants usually do not have a business plan or P&L form to provide, even though they have a successful business operation. The right broker has the ability to help the landlord understand the tenant’s potential.” “For Latinos, relationships with business partners are very important and once they trust the person, they want the business partner also to start participating in family events, etc. Latinos are usually very warm and welcoming to business partners that treat them well and that they trust. When they know they are being treated fairly, they don’t forget and are grateful to that person. It is very important that a broker knows how Latinos do business, what motivates them, what they need in order to trust someone and make a deal, what discourages them and what things should not be done. It should be noted that Latinos are sensitive people when it comes to how their family members are treated,” Houser added. The retail real estate industry continues to transform to accommodate the constantly changing landscape of American culture and demographics. The Latino population, continuously expanding in numbers and spending power, is one of the driving forces behind this transformation. DM Page 102 | May 23, 2014

the declining vacancy rates, retailers are wisely looking less for a better deal or concessions, and instead looking to secure the space rather than lose it due to too much ‘hard negotiating.’ The tide has turned.”

Asking rents in strip centers rose 0.4 percent during the first quarter from 2013’s fourth quarter, to $19.42 per square foot, the highest level since late 2008, according to data company, Reis, Inc. Regional malls saw asking rents rise half a percentage point to $40.15 per square foot, the highest increase since the end of 2008. Cherney pointed out, “Rents are rising, but remember, we are at the end of the five-year cycle where tenants got rent reductions in 2009.” Tsakiris added, “Rents are increasing moderately at rates of three to five percent, however rents should increase at a much higher rate over the next few years.” Cram further explained, “Labor and material constraints are starting to increase around the edges and could become a major issue in 2016 and beyond. Finished outparcel land prices in good markets have nearly recovered to their 2006-2007 price levels.”

Acquisitions of retail assets and shopping centers remain highly active. Tsakiris said, “Small buyers are back, but the REITs have changed the game. Their cost of funds is so low that they can overpay on any asset they are interested in. Many simply need to place funds and do not exercise the same common sense and caution that an individual investor would, even though they spend much longer on due diligence. Lenders are still cautious, which may not be a bad thing.” Cherney explained, “REITs don’t necessarily drive up prices, but any entity with cash is buying real estate at compressed Cap rates, because bank rates are so low. In a lot of the situations where Kin Properties is looking to acquire sites, other potential buyers are only looking at Cap rates and not the value of the underlying real estate.” Mr. Cram believes that this trend will continue at least through 2015 as record amounts of money has already been raised and needs to be placed, even after rates start to rise. He explained, “In a way this excess capital is good, as the industry will start seeing the next wave of distressed CMBS mortgages come due next year and the industry needs capital to recapitalize these overleveraged centers.” Taub noted, “There is a massive imbalance between equity/capital available to purchase assets and lack of product, across all types of investment from value-add, to true, pure top 10 core assets/markets. This is creating a euphoric atmosphere, where underwriting fundamentals lessen and lessen as each new deal comes to market, oblivious in cases to the last run up leading up to 2008 crash.”

For the past few years, retailers could be overly demanding and most landlords would acquiesce to rent reductions, build-out requests and just about anything else to retain a tenant or lease vacant space. As the economy improves, Shindleman explained, “Retailers are less demanding with new deals than they were during the recession. Especially the American retailers; they have been acclimatized and now they understand what to expect from sales volumes and profitability. Most U.S. based retailers are just getting back on track for expansion.” Tsakiris added, “The landlord and tenant relationship is slowly swinging more towards equilibrium, but the advantage still belongs to the retailers.” Weiss commented, ““Some property owners are only looking for ‘credit’ tenants that you can find in any mall. While those tenants may have strong balance sheets behind them, they don’t do much for the character of a place nor are they immune to failure.” Lanyard stated, “Due to

The major complaint among retail real estate executives is the lack of urgency from retailers. Mr. Cram states “Real estate departments of most major retailers have not fully recovered since 2009’s mass layoffs. In addition, the demographic brain drain caused by retiring retail corporate real estate personnel will be a major problem through the rest of the decade. Training and retention will be a major HR issue.” Tsakiris noted a lack of sense of urgency on behalf of nationals, “It takes twice as long to do a deal as it should; as a broker, you essentially make half the money you think you are making. Retailers have no sense of urgency to secure sites and quickly wrap up deals. Deals that could have been completed in 60 days, take 180 and sometimes more.” Shindelman agreed, “Many anchor stores lack a sense of urgency.” Cherney added, “The process has become cumbersome.” The consensus is “The Deals Take Too Damn Long!” DM Dealmakers Magazine | www.dealmakers.net


b seen Your business must be seen to thrive. The Breton Group makes it our business to make your company and your properties more visible. We develop integrated, custom marketing programs to improve growth, value and profitability. Don’t blend in with your competition. Let The Breton Group help you stand out and be seen.

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MOST VALUABLE PLAYERS 10 Spot / Madrag..................................................................... Pg. 66

Directory of Major Malls.......................................................... Pg. 86

Amcap Incorporated................................................................ Pg. 47

Envoy NNN............................................................................. Pg. 32

ARC Properties........................................................................ Pg. 33

Excess Space Retail Services, Inc.............................................. Pg. 29

Ascena Retail Group, Inc...................................................Pgs. 22-23

Feil Organization, The............................... Pgs. 9, 10, 11, 54, 55, BC

AutoZone................................................................................ Pg. 30

First Western Properties........................................................... Pg. 63

BKR Retail............................................................................... Pg. 69

FoodTenants.com.................................................................... Pg. 93

Breslin Realty.......................................................................... Pg. 19

FreestandingTenants.com........................................................ Pg. 95

Breton Media......................................................................... Pg. 103

Grocery Outlet........................................................................ Pg. 77

Broadwall Consulting Services................................................. Pg. 87

Gumberg Asset Management Corp.......................................... Pg. 21

Carnival Booking................................................................... Pg. 105

Hallmark & Johnson Property Management, Ltd...................... Pg. 71

Carolina Holdings, Inc............................................................. Pg. 52

Hutensky Capital Partners........................................................ Pg. 17

City of Bowie, Maryland.......................................................... Pg. 42

Jacobs Enterprises, Inc......................................................Pgs. 72, 80

City of Red Bank, New Jersey.................................................. Pg. 70

Jeffery Realty........................................................................... Pg. 38

Courtelis Company.................................................................. Pg. 48

K Corporation.......................................................................... Pg. 83

Cullinan Properties, Ltd........................................................... Pg. 39

Kin Properties...............................................................................IBC

De Rito Partners...................................................................... Pg. 51

Kutlick Realty LLC............................................................. Pg. 84, 88

Dealmakers, The...................................................... Pgs. 88, 89, 104

Landmark Commercial Real Estate........................................... Pg. 68

THE PUBLICATION OF CHOICE FOR RETAIL REAL ESTATE DECISION MAKERS!

www.dealmakers.net Page 104 | May 23, 2014

Dealmakers Magazine | www.dealmakers.net


MOST VALUABLE PLAYERS Learning Experience, The........................................................ Pg. 35

Sabre Real Estate...................................................................... Pg. 61

Levin Management.................................................................. Pg. 13

Shindico.................................................................................. Pg. 53

LMS Commercial Real Estate................................................... Pg. 79

Shopping Center Group, The................................................... Pg. 81

McCollom Realty, Ltd.............................................................. Pg. 78

Silbert Realty & Management Company, Inc............................ Pg. 50

Mehlich Associates.................................................................. Pg. 82

Sutton Real Estate Company, LLC............................................ Pg. 67

Milbrook Properties, Ltd.......................................................... Pg. 27

TenantSearch......................................................................... Pg. 101

NAI Long Island....................................................................... Pg. 65

U.S. Properties Group.............................................................. Pg. 37

Nassimi Realty, LLC................................................................. Pg. 41

Urstadt Biddle Properties, Inc.................................................. Pg. 43

Olshan Properties.................................................................... Pg. 56

Vanguard-Fine, LLC................................................................. Pg. 84

Passov Real Estate Group......................................................... Pg. 85

Weingarten Realty..................................................................... Pg. 5

Pierce-Hardy Limited Partnership............................................. Pg. 62

Weiss Realty............................................................................ Pg. 49

Pyramid Brokerage Company.................................................. Pg. 36

Welco Realty, Inc................................................................... Pg. 6,7

RD Management, LLC.......................................................Pgs. 73-76

Wheeler Real Estate Investment Trust...................................... Pg. 25

Reliable Properties................................................................... Pg. 31

Winick Realty Group LLC...................................................Pgs. IFC,3

Retail Brokers Network......................................................Pgs. 90,91

Zelnik & Company LLC........................................................... Pg. 15

RJ Brunelli & Co., LLC............................................................. Pg. 45 Royal Properties, Inc................................................................ Pg. 64

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