shopping center digest 2009 icsc deal making issue

TABLE OF CONTENTSNew and Expanding Shopping Centers

Over 501,000 Sq. Ft. ............................. J469Strolling the Agora ................................... J469Didja Hear??? ............................................ J469Financial/Sales Results ........................... J476New And Expanding Shopping Centers

201,000-500,000 Sq. Ft. ........................ J478New And Expanding Shopping Centers

Up to 200,000 Sq. Ft. ............................ J482Upscale, Specialty, Urban Mixed-Use .... J484Centers With Lease

Space Available .................................... J486Retailers Seeking Space .......................... J487Classifieds ................................................. J490

NEW AND EXPANDING CENTERS OVER 501,000 SQ. FT.(Unless mentioned otherwise, all are enclosed, air-conditioned malls)

Strolling the AGORABy Murray Shor

(continued on P. J472)

didja hear...???

©SHOPPING CENTER DIGEST, PO Box 837, Nyack, NY 10960 (845) 348-7000 J4699/14/09

RETAILERS SEEKING SPACEPage J487-489

CALIFORNIAEscondido: Renovations have begunon 1.22 million sq. ft. Westfield NorthCounty on 83 acres at I-15 and ViaRancho Pkwy in San Diego County(See SCD, P. J227); center has 300,000sq. ft. of vacant space and developer isnegotiating with a supermarket toreplace former Robinson-May; project

to also include the addition of morerestaurants, a housewares store andtheaters; in addition, H&M is re-

modeling some vacant space and is setto open later this year; anchors

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As long as this shopping center/retail chain industry has been around—at least for the last 40-some years—the leverage atthe negotiatingtable has beenoverwhelminglywith the owner-developers. Thatis until this mas-sive recessionhit, new develop-ment came almost to a standstill, andvacancies from the smallest strip to thebiggest mall began to go through theroof (pun intended).

Tenants, and it’s not just the dis-count/dollar stores, the fast food andrestaurant chains, the sporting goodsoperators or electronics retailers stillin business, or the teen-oriented spe-

cialty chains that are taking advantageof this new-found power. It has spilled

San Diego, CA-based CharlotteRusse announced it would be acquired

by Advent International for $380million, substantially more than theamount offered last year by other in-vestment firms; the women's apparelchain operates about 500 storesnationwide...The Sembler Company,has recently hired Stevens E.Tombrink in the newly-created posi-

(continued)

Subscribers May Join New Industry GroupA new industry group dealing

with leasing and development inshopping centers has been formedon LinkedIn for subscribers toShopping Center Digest , an-nounced Editor-Publisher MurrayShor.

“The purpose of the group is toprovide another way for industrydealmakers to network, share in-formation, and sound off on sub-jects they feel strongly about. Thisis the foundation of several recentcolumns of Strolling the Agora inour twice-monthly newsletter,” he said.

Invitations were emailed to allsubscribers to Shopping Center Di-gest. “However, many subscribers,”said Shor, “have not given us theiremail addresses and cannot receivethe invitation.

“If you are a subscriber andhave not received an invitation, andwould like to,” he said, “pleaseemail me at mshor@shopping

centers.com or write me with youremail address at Shopping CenterDigest, P.O. Box 837, Nyack, NY10960 so we can process the re-quest.”

Vol. 38, Nos. 17 & 18

Published Twice Each Month

September 14, 2009

Murray Shor - Editor & Publisher (845) 348-7000, (800) 211-6858

$349 per year

"TheLocations

Newsletter"

Box 837Nyack, NY

10960

ICSC DEAL MAKING ISSUE

• 7-Eleven• Abercrombie & Fitch, Hollister, Ruehl, and Gilly Hicks• Ann Taylor and Ann Taylor LOFT• Applebee's Neighborhood Bar & Grill• Bears & Wishes• BJ's Wholesale Club• Casey's General Stores• Chick-fil-A• The Children's Place• Dick's Sporting Goods and Golf Galaxy• DSW Shoe Warehouse• Five Below• Food Lion• Forever 21• Fresh & Easy Neighborhood Markets• Henri Bendel• I.O. Metro• JCPenney• Leons Furniture• Nestle Toll-House Cafe• Nordstrom and Nordstrom Rack• Saks Fifth Ave and Off Fifth• Swiss Chalet• Target and SuperTarget


Strolling the AGORA(continued)over to regional operators, Mom andPops, temporary retailers, innovativemerchants wanting to test new con-cepts and markets, and even those notnormally interested in locating in ashopping center but lured by rock-bottom rents, central location, andnumerous other reasons and conces-sions. Franchising is a big source ofpotential retailers as numerous opera-tors eye entrepreneurs as likely part-ners due to their access to off-shorefinancial markets.

Oh sure, some may contend thelandlords never had overwhelmingmuscle when it came to striking a deal,because they “really needed that an-chor, or that dominant retailer, or thathigh-prestige fashion plate” to makethe project happen. And there’s a lot tobe said for the need by high-profilemerchants to have some say in how thecenter or mall is marketed, or whatother retailers would be permitted in,and what prime locations they wouldhave.

Heavyweights Of The PastThis is behind the retail heavy-

weights of the past, such as Sears orMay Department Stores or Dayton-Hudson for malls, or Giant Foods,Acme Stores, Safeway Stores orGamble-Skogmo for grocery-anchoredstrips, establishing their own develop-ment divisions. Or why discounterslike Wal-Mart or Kmart designatedoperators in key markets to be theirprime developers.It was all done toprotect their substantial financial in-vestment and to be able to control theirdestiny within the shopping center.

These were the exceptions. In mostinstances, the landlord set the rulesand Triple-A or national tenants gotthe best deals, the earlier they signedthe better; they were necessary for thedeveloper to hit that 70% of signedleases to obtain financing, but theystill had little, real bargaining power.And the other retailers provided mostof the profit for the project. With thesurge to the formation of REITs andthe creation of behemoth landlords,the balance was tipped even more tothe side of the owner-developers.

Now, pointing to the depressedeconomy and declining retail sales and

profits that have caused many com-petitors to close up, the remainingmerchants still in business and look-ing for locations are relishing thischange of fortune. A cliché: “In thecountry of the blind, the one-eyed manis king.” A viable tenant who used toopen 50 stores annually and is nowlooking only for 20 when others aren’t‘open to buy’ has a lot of muscle.

So rent reductions, and fixture al-lowances, and “finished stores” anddozens of other demands that a fewyears ago would cause a landlord toask for a sanity hearing, are now partof the opening gambit in negotiations.

How The Landlords ReactSo, how is the landlord, more used

to a “take it or leave it” approachreacting to this? How is he and hisleasing representatives working to turnthe tide and make those deals that willkeep the tenant list filled and the shop-ping center viable?

Among the first steps is gettingexisting tenants to renew, which bothsides are agreeable to, with rent reduc-tions, tenant improvements, reducingoperating hours, co-tenancy clauses,and numerous other concessions anddetails being hammered out.

With many empty big-box storesand prime locations going dark, land-lords are eager to fill the gaps withalmost any tenant offering a basic rent.This is why many of these locationsare going to “pop up” stores, tempo-rary and specialty tenants, salvage gro-cers, kiosk-oriented tenants, retailerslooking to test new concepts and newmarkets, deals with permanent chainsoffering very short-term leases of twoor three years, permitting “kickouts,”percentage rents, finished stores, etc.,etc.

An interesting trend is that manydiscounters, home improvementchains, ethnic-oriented merchants,even dollar stores, are willing to take arisk on major downtown locations inlarge cities they usually ignored, citieslike New York, Chicago, Miami, LosAngeles, Portland, Dallas.

In essence, on the table are anyconcessions a viable tenant is willingto ask for. And many times, to theirsurprise, they are being accepted by

landlords.They are eager add medical and

dental offices, schools, libraries, mu-nicipal agencies, to try new concepts,such as water slides or indoor go karttracks in place of empty “canyons,”nearly-new shops, pawn shops, andthey may even look the other waywhen merchandise edges out into thecommon area—unless there’s a strongcomplaint from a retail neighbor.

Hoping For A TurnaroundMany in the shopping center/re-

tail community are optimistic that therewill be a turnaround next year, withthe most cautious not expecting it untilthe second half of 2010. As reasons fortheir optimism, they point to morepositive financial results from key re-tailers, polls showing a rise in con-sumer confidence, improvements innumbers from Wall Street, drops inthe increases of jobs lost, rising homeprices in some areas around the coun-try, and the like.

Though back-to-school was not agreat success for the majority of ten-ants, some were gratified with better-than-expected sales. However, allmavens are holding their breath await-ing sales figures for the most impor-tant selling season of all, November-December holiday sales.

No matter what their expectationsand plans are now, all can change ifthose few weeks produce dismal re-sults. However, if sales improve andare better than expected, the optimismmay spill and result in more leasingand development deals from early 2010and beyond.

It may take years though, manycontend, before all the current emptystores are filled and a big push for newdevelopment and shopping center ex-pansion swings leverage back to theside of the landlord.

2009 EXPANDING RETAILERS

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J472 ©SHOPPING CENTER DIGEST, PO Box 837, Nyack, NY 10960 (845) 348-70009/14/09

Editor-Publisher................................. Murray Shor, Ext. 201.................. [email protected] Editor............................ Jennifer O'Neill, Ext. 250........ [email protected]... .................................. Ext. 206Shopping Center Digest (ISSN 0885-209X,USPS 112-750) is published twice monthly--except for double issues in February, April,September and December--by Jomurpa Pub-lishing Inc at 20 N. Broadway, Nyack, NY10960—Telephone (845) 348-7000, Fax(845) 348-7011, (800) 211-6858. Subscrip-tion is $349 per year. Periodical postagepaid at Nyack, NY, and additional mailingoffices. Our e-mail address isscdigestshopping centers.com. Visit ourhome page at www.shoppingcenters.com.Postmaster: Send address changes to Shop-ping Center Digest, PO Box 837, Nyack,NY 10960. Copyright © Jomurpa Publish-ing Inc 2002. All rights reserved. To protectits copyright, Shopping Center Digest re-quires subscribers to obtain written permis-sion to reprint, not photocopy, any part ofits issues. For written permission to reprintpublished material, contact the editor at(845) 348-7000. Legal photocopies may bemade only through the Copyright ClearanceCenter (CCC) at 222 Rosewood Dr, Danvers,MA 01923, USA, (508) 750-8400, Fax (508)750-4744.

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JCPenney, Macy’s, Nordstrom, andSears; 180 stores; parking 5791 cars;opened ‘86; population 622,500 within10 miles; average household income$62,500; developer Westfield AmericaInc, 11601 Wilshire Blvd, Ste 1200,Los Angeles, CA 90025, (310) 478-4456, www.westfieldamerica.com.Walnut Creek: An initiative with10,295 signatures is filed to allow aplanned Neiman Marcus to build a92,000 sq. ft. two-story store at 700,000sq. ft. Broadway Plaza on 30 acres atMt. Diablo and S Main St in ContraCosta County (See SCD, P. J445);existing anchors Macy’s, Macy’s II,and Nordstrom; 70 stores; parking2,593 cars; opened ‘51; population467,586 within 10 miles; averagehousehold income $104,872; de-veloper The Macerich Co, 401 WilshireBlvd, Santa Monica, CA 90401, (310)394-6911, www.macerich.com.

COLORADOLongmont: City Councilwomansupports and makes one of her top

priorities the redevelopment of 555,919sq. ft. Twin Peaks Mall on 75 acres atU.S. 119 and S Hover Rd in BoulderCounty (See SCD, P. J347); anchorSears; 85 stores; parking 3265 cars;opened ‘85; population 133,644 within10 miles; average household income$75,505; developer Panattoni Develop-ment Corp (Will Damrath), 4601 DTCBlvd, Ste. 650, Denver, CO 80237-2459, (303) 790-4737, www.pannatoni.com.

CONNECTICUTTrumbull: $25 million renovation tobegin this fall on 1.2 million sq. ft.Westfield Trumbull on 75 acres at MainSt and Merritt Pkwy in Fairfield County(See SCD, P. J445); project to includean all-new interior, all-new exterior,and a brand new food court; anchorsTarget, JCPenney, and Macy’s; 150stores; parking 4,800 cars; opened ‘64;population 708,650 within 15 miles;average household income $93,000;developer Westfield Group c/o West-field Corp (Chuck DiGiovanna), 11601Wilshire Blvd, Ste. 1200, Los Angeles,CA 90025, (310) 478-4456, www.westfield.com.

FLORIDANorth Port: Planning and zoning panelhave approved a proposed 986,000 sq.ft. Woodlands Regional Center at SEcorner of I-75 and Toledo Blade Blvd(See SCD, P. J457); construction willnot begin until ‘10 at the earliest;developer Benderson Development(William Murray), 8441 Cooper CreekBlvd, Bradenton, FL 34201, (716) 886-0211, www.benderson.com.Sarasota: Federal aid could re-launch

a portion of the stalled development of1.6 million sq. ft. University TownCenter on 276 acres at SW corner of I-75 and University Pkwy (near ManateeCounty Border) in Sarasota County(See SCD, P. J387); SuperTarget hasopened; Neiman Marcus and Nord-strom were set to open by Nov ‘10; inconjunction, project was to haveincluded 220,000 sq. ft. of office space,500 hotel rooms, and 1,750 residentialunits developer joint venture TheForbes Company of Southfield, MI,The Taubman Co of Bloomfield Hills,MI, and Benderson Development,8441 Cooper Creek Blvd, UniversityPark, FL 34201, (914) 359-8303,www.benderson.com.

IDAHONampa: A 35,500 sq. ft. SportsAuthority has opened at 967,326 sq.ft. Nampa Gateway Center open-aircenter on 104 acres at SE of the GarrityBlvd interchange with I-84 (See SCD,P. J399); in addition, a 103,000 sq. ft.Macy’s and Idaho Athletic Club areset to open later this year; currently,JCPenney is the only other store openat the retail center; population 476,000within 15 miles; developer DevelopersDiversified Realty (Erik Christopher),455 E 500 S #Garden, Salt Lake City,UT 84111, (801) 323-2302, Email:[email protected].

LOUISIANANew Orleans: Mayor has issued anexectutive order to use tax incrementfinancing for the $220 million re-development of the storm damagedLake Forest Plaza (to be renamed

(continued from P. J469)

Though there are growing va-cancies, retail sales are in a slump,and consumers are worrying aboutthe economy, the shopping mallsin the US are still a substantialdraw, according to ShopperTrakRCT Corp.

Though earlier in the year, foottraffic was down 4%, it has re-bounded and is now comparable

to activity prior to the deep reces-sion.

“Store visits are declining,”according to Bill Martin, co-founder of the research company,“but people still want to use theelement of going to the mall as asocial release.”

The study represented trips tosome 1,300 enclosed shopping malls.

Shopping Malls Still A Top Draw, Says Poll

(continued)

EXPANDING RETAILERS

FABRIC / CRAFTS

Jo-Ann Fabrics and Crafts and Jo-Ann Superstores

div. of Jo-Ann Stores, Inc of 5555 Darrow Road,

Hudson, OH 44236; currently operating 642 Jo-Ann Fab-

rics and Crafts and 172 Superstores in 47 states; plan to

open one 25,000 sq. ft. Jo-Ann store and five 35,000 sq. ft.

Superstores next year. David Holmberg, EVP of Store Op-

erations and Real Estate, (330) 656-2600, Fax (330) 463-

6660, Email: [email protected].

FOOD, CANDY, ICE CREAM

A&W Canada

of 35 Wootten Way N, Markham, ON L3P 3V3;

currently operating 670 restaurants throughout Canada;

locations sell burgers, french fries, onion rings, salads, hot

dogs and chicken sandwiches; plan to open 24 sites per

"EXPANDINGRETAILERS"

2009 From

LEADING RETAILERS

(Directory of Major Malls 28th Edition)

APPAREL

GOODY’S

Div. of: Goody’s Family

Clothing, Inc.

Stephen D. Cauthen

Director of Real Estate

400 Goody’s Lane

Knoxville, TN 37922

Ph: (865) 966-2000

Fax: (865) 777-4210

[email protected]

www.goodysonline.com

Units of Operation: 383

H & M

Loni L. Shepherd

Real Estate Manager, East

Coast

47 W. 34th Street

3rd Floor

APPAREL

J. CREW

Holly Cohen

Vice President of Real Estate/

Planning & Construction

770 Broadway 12th Fl

New York, NY 10003-1004

Ph: (212) 209-2719

Fax: (212) 209-4705

[email protected]

www.jcrew.com

Units of Operation: 158

Retail;

45 Factory

LEVI’S

Div. of: Levis Strauss & Co.

Meredith Wheeler

Real Estate Manager - Retail

Levi Strauss & Co.

1155 Battery Street

San Francisco CA 94111

Ph: (415) 501-1250212)ONLY $75 to paidsubscribers to ShoppingCenter Digest –pre-paid

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(continued from P. J469)

didja hear...???tion of VP of Business Developmentand Seth Layton as VP of Asset Man-agement, both working at the com-pany's corporate headquarters in St.Petersburg, FL; prior to joining thecompany, Layton was with Kimco Re-alty Corp and Tombrink was withEquity, Inc...Rockville, MD-basedFederal Realty Investment Trust hasclosed on $265 million of previouslyannounced capital raising activities andintends to use the proceeds to pursueacquisition opportunities, fund its re-development pipeline, pay down its$372 million term loan, and/or for gen-eral corporate purposes....Lime FreshMexican Grill has hired AngelaKenyon as its new VP- developmentto assist in its expansion program; pre-viously, she had been with StarbucksCoffee, Dunkin’ Brands, and BurgerKing...Discount retailer Dollar Gen-eral-owned by private equity firmKohlberg Kravis Roberts- filed foran initial public offering and expectsto raise $750 million, of which $200million would be paid as a dividend toits investors...Jay M. Lepselter hasjoined Hilco Real Estate, LLC, a di-vision of Hilco Trading, as SVP; pre-viously, Lepselter was with WetSeal...Expected to be completed inmid-to-late October, NRDC AquistionCorp is converting into a real estateinvestment trust, called Retail Oppor-tunity Investments Corp (ROI),which will have about $400 million incash, enabling it to purchase or investin up to $1 billion in real estate assetsincluding neighborhood centers, re-gional malls, lifestyle centers, andpower centers...Cadillac FairviewCorp Ltd has acquired real estate as-sets, including the 300,000 sq. ft.Windor Station office complex fromCanadian Pacific Railway for $86million...Canadian home improvementretailer, Rona Inc plans to unveil anew specialty paint store concept thisfall, with three test locations openingin Montreal, PQ, followed by expan-sion into ON and Western Canada in‘10 and ‘11...The 14-unit, Chicago,IL-based, Stir Crazy Fresh AsianGrill and the 14-unit Flat Top Grill

have merged under new parent, FlatOut Crazy LLC, valued at more than$60 million...Beachwood, OH-basedDevelopers Diversified Realty Corphas filed regulatory documents outlin-ing both compensation plans and em-ployment contracts with Chairman andCEO Scott Wolstein and Presidentand COO Daniel Hurwitz indicatingthat Hurwitz has been "tapped" as nextin line for the CEO spot...Weis Mar-kets has acquired d11 Giant Marketstores thoughout Broome County, NY,which have reopened under the newnameplate; the Sudbury, PA-based gro-cery chain now operates 165 stores inPA, MD, NJ, NY and WV...Jones LangLaSalle has appointed Alex Dauria asmanaging director, and Ben Breslauand John Schena as national directorsfrom the Boston Region; in addition,Chris Beeson, Stephen Flint, DavidGirard, Dana Griffin, and Mark Jollywere named associate directors...The486-unit Steak n Shake Corp (SNS)and Western Sizzlin Corp have jointlyannounced the execution of a non-binding Letter of Intent relating to aproposed merger of Western into awholly-owned subsidiary of SNS...NY-based NRDC Equity Partners,which owns the Hudson's Bay Com-pany department store chain are"highly interested in an additional in-vestment in Canada" primarily focusedon investing in basic-needs retailers,such as supermarkets and drugstores...The bankruptcy court hearing the caseof General Growth Properties re-jected creditors’ motions to dismissseveral of the properties of the 166mentioned in the suit; this clears theway for the mall owners to negotiateloan extensions with creditors...JCSHoldings Inc, parent of the 113-unitJoe's Crab Shack chain has changedits name to Ignite Restaurant Group;the name change comes as the com-pany plans to open a fourth unit thisfall of its new Brick House Tavern +Tap concept, which launched lastyear...A number of new IPO stock of-ferings have been filed recently to ac-quire distressed properties, includingStrategic Retail Trust ($1 billion),

Brookfield Properties ($900,000) andColonial Financial ($500 million)...After brief stints with datacenter de-veloper Base Partners and NYC-basedfull-service commercial real estatecompany, Helmsley Spear, AaronWright has returned to his position ascorporate managing director of SanFrancisco, CA-based tenant-rep firmStudley...Chattanooga, TN-basedCBL & Associates, which owns 160commercial properties, including 88regional malls and open air shoppingcenters has shelved all renovations andmajor capital improvements at its prop-erties nationwide including five in theSt. Louis, MO, area alone; those prop-erties include Chesterfield Mall,South County Center, and WestCounty Center in St. Louis County,as well as Mid Rivers Mall in St.Charles County and The Shoppes atSt. Clair Square in Fairview Heights...Circle K has retained NRC Realty &Capital Advisors LLC, based in Chi-cago, IL, to sell off 87 of its locationsacross the country...Sydney, Austra-lia-based Westfield Group, whichoperates 119 shopping centers in Aus-tralia, New Zealand, the U.S. and U.K,has received commitments from Asianinvestors of more than $1.4 billion fora $1.25 billion loan...Marking the big-gest IPO to hit the market this year,private equity firm Starwood CapitalGroup, has increased the size of itsoffering of a real-estate investmenttrust to $800 million...Specialty jew-elry retailer, Finlay Enterprises, Inchas filed voluntary petition for reliefunder chapter 11 of the U.S. Bank-ruptcy code. The company operates182 locations, including 67 BaileyBanks & Biddle, 34 Carlyle and 4Congress specialty jewelry stores and77 licensed departments with The BonTon...SouthEast Waffles, the largestindependent franchisee of WaffleHouse restaurants with 105 locationsthroughout TN, AL, MI, and KY istrying to exit bankruptcy court with anew owner and has been offered bidsfrom Golfer Phil Mickelson, a Ten-nesse restauranteur and the parent com-pany of the Waffle House chain.

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Financial/Sales Results(Figures are compared to previous year’s unless stated otherwise)

Framingham, MA-based TJXCompanies reported net sales for thesecond quarter rose 4% to $4.7 billionas net income was $262 million, withdiluted earnings up 27%; same-storesales rose 4%. The company operates882 T.J. Maxx stores, 811 Marshalls,323 HomeGoods and 141 A.J. Wrightstores in the U.S...For the second quar-ter, The Home Depot Inc, said saleswere down 9% to $19.1 billion andcomparable stores sales fell 8.5%. Thecompany operates 2,240 stores, in-cluding 1,974 locations in the U.S.and 178 stores in Canada...AFC En-terprises Inc, parent of the PopeyesLouisiana Kitchen quick-servicechicken chain reported domestic same-store sales increased 4.3% for the quar-ter ended July 12...For the quarterended August 1, Macy's Inc reportedprofits fell 90.4% and same-store salesdropped 9.5%...Mall-based specialtyretailer, Aeropostale said sales for thesecond quarter increased 20% to $453million as net income was $38.6 mil-lion, compared with $21.1 million lastyear; comparable store sales increased12%...For the quarter, comparablestore sales at Sears Holdings Corpsaid same-store U.S. stores fell 3.9%at Kmart and 12.5% at Sears...RossStores announced that net earningsfor the second quarter jumped 45% toa record $103.4 million as sales rose8% to $1.769 billion; comparable storesales were up 3%...For the quarterended August 1, Gap Inc reported netsales declined 7.3% to $3.25 billionand some-store sales fell 8% includinga 15% same-store sales decline forBanana Republic, while Gap and OldNavy were off 10% and 4%, respec-tively...For the second quarter, teenretailer The Buckle reported net in-come rose 12.2% to $25 million andprofits rose 83.3% to $38.6 million,respectively...JCPenney reportedearnings for the first half of ‘09 fell89.9% to $24 million , or 11 cents, ona 6.9% decrease in sales to $7.83billion...For the quarter ended Aug 1,New Albany, OH-based Abercrombie& Fitch Co said revenue fell 23.3% to$648.5 million from $845.8 millionand comparable store sales fell

30%...Steak n Shake Co announced anet income for the last quarter of $3.8million, compared with last year’s lossof $9.8 million; revenue rose 1.4% to$146.3 million and comparable storesales rose 5%...For the second quarter,Hot Topic reported sales were $157.8million, down 5.4% from the sameperiod last year and total companysame-store sales fell 7.7%. The com-pany operates 679 Hot Topic storesand 156 Torrid units...PetSmart an-nounced net income for the secondquarter of $39 million compared to netincome of $37.2 million...Deerfield,IL-based Cosi Inc, which operates 144casual restaurants, said revenue forthe last quarter fell 13.9% to $31.6million, as it narrowed its losses to$969,000 compared with last year’s$1.7 million; same-store sales fell12.2%...Despite a 5% decline in sales,Barnes & Noble reported second quar-ter net-income of $12.3 million onsales of $1.2 billion; same-store salesfell 6.9%...The Cato Corporation,which operates 1,285 stores in 31 statesunder the Cato and It's Fashion namesannounced sales for the quarter endedAugust 2 were down 2% to $225.4million and comparable store sales fell3%...Mexican Restaurants (Case Ole,Mission Burrito) announced revenuein the last quarter fell 3.4% to $18.1million as it lost $207,937, comparedwith last year’s net income of$359,059; same-store sales fell 6.6%at company stores, 1.2% at franchisedunits...Columbus, OH-based LimitedBrands, Inc reported net sales for thesecond quarter were $2.067 billioncompared to $2.284 billion and same-store sales fell 9%...General GrowthProperties Inc, which filed for Chap-ter 11 in the middle of April, reportedfunds from operations (FFO) totaled aloss of $0.52 per share compared to$0.73 per share for the first quarter; inaddition, net income fell 4.1% to$608.9 million and total occupancywas at 90.9% for its more than 200shopping malls in 44 U.S. states... SanFrancisco, CA-based The GymboreeCorp, which operates a total of 926retail stores: 624 Gymboree stores,135 Gymboree Outlet store, 120 Janie

and Jack shops, and 47 Crazy 8 stores,reported net earning for the quarterended August 1 of $12.2 million com-pared to $8 million...For the secondquarter, Casual Male Retail Group,Inc, operator of Casual Male XL,Rochester Clothing, B&T FactoryDirect, Living XL, and Shoes XL,announced sales fell 13.4% to $98.3million from $113.5 million and com-parable store sales fell 13.9%...Co-lumbus, OH-based Big Lots, Inc saidsales for the second quarter fell 1.7%to $1.08 billion and same-store salesfell 2.4%...For the quarter ended Au-gust 1, Ann Taylor Stores reportedsales were $470.2 million compared to$592.3 million and comparable storesales fell 15.4%...For the three monthsended August 1, Little Rock, AR-basedDillard's department store chain an-nounced net sales fell 11.2% to $1.43billion from $1.61 billion and same-store sales declined 13%...For the sec-ond quarter, same-store sales fell18.5% for Saks Inc and net sales fell14.5% to $561.7 million from $657million...Bentonville, AR-based Wal-Mart Stores, Inc announced total com-pany sales fell 1.4% to $101.08 billionincluding a sales increase of 0.3% forWal-Mart U.S. stores and a loss of5.1% to $64.2 billion and a loss of3.2% to $11.9 billion for Internationalstores and Sam's Club , respec-tively...Amarillo, TX-based multime-dia entertainment retailer HastingsEntertainment, Inc said net incomefor the six months ended July 31 was$1.3 million compared to net incomeof $3.6 million... For the month ofJuly, McDonald's Corp said globalsame-store sales rose 4.3%, includinga 2.6% increase in the U.S. The com-pany operates more than 32,000 storesin 100 countries... St. Paul, MN-basedGander Mountain Company, thenation’s largest retail network of storesfor hunting, fishing, camping, marineand outdoor lifestyle apparel and foot-wear, products and services announcedretail segment sales results for the sec-ond fiscal quarter ended August 1 were$210.8 million, a decrease of $2.3 mil-lion or 1.1%; comparable store salesdeclined 2.4%.

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FOR OPEN CENTERS WITHLEASE SPACE AVAILABLE

Name of Center

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Marketplace at Pointe Maree) on 81acres in (See SCD, P. J447); existingtenant Lowe’s Home Improvementstore; developer is in talks with Wal-Mart as second anchor, as well asseveral smaller and more upscale retailoutlets; opened ‘74; developer c/oCesar Burgos, 3632 Canal St, NewOrleans, LA 70119, (504) 488-3727.

NEW JERSEY

Paramus: Expansion and renovationnearly 90% complete at 1 million sq.ft. Bergen Town Center (formerlyBergen Mall) on 72 acres at Rt 4 andForest Ave in Bergen County (SeeSCD, P. I869); anchors Marshall’s,Off 5th-Saks Fifth Avenue, Century21; 92% leased; more than 100 storesinclude Tommy Hilfiger, U.S. Polo,Gap Outlet, Gamestop and SockDrawer; parking 5,072 cars; opened‘57; population 279,897; averagehousehold income $105,009; de-veloper Vornado Realty Trust, 210 Rte4 E, Paramus, NJ 07652, (201) 587-1000, www.vornadorealty.com.

PENNSYLVANIAPottsgrove: Target, Bed Bath &Beyond, and a 76,400 sq. ft. GiantFood Store have opened at 688,000 sq.ft. Upland Square currently underconstruction on 108 acres at Rt. 100and State St (See SCD, P. J341); otherbusinesses, including a standalone L.A.Fitness will open late fourth quarterand Petco, Staples, and Five Below arealso slated to open; there are spotsavailable for other retailers andbusinesses including Chili's, Subway,and a bank; developer joint ventureTristate Ventures LP c/o Fameco RealEstate LP (Adam Kohler), 633 WGermantown Pike 633 W German,Plymouth Meeting, PA 19462, (610)834-8000, Email: [email protected], and Cedar ShoppingCenters, 44 S Bayles Ave, Ste. 304,Port Washington, NY 11050-3765,(516) 883-5577.

SOUTH CAROLINAHardeeville: Developer is consideringon "changing how it brands" and nowplan to start construction in spring ‘10on its proposed 1.5 million sq. ft. TheColony (formerly known as OkatieCrossings) on 300 acres at Hwy 170and Hwy 278 (See SCD, P. J325);

(continued from P. J472) project will be "more upscale thanpreviously planned"; initial phase toopen in fall ‘11; population over300,000; developer The SemblerCompany, 5858 Central Ave, St.Petersburg, FL 33707, (727) 384-6000,www.sembler.com.

CANADAHamilton, ON: Redevelopment -on760,000 sq. ft. The Centre Mall atBarton St and Kenilworth Ave (SeeSCD, P. I521); anchors Zellers,Canadian Tire, Metro, and ShoppersDrug Mart; opened ‘55; population100,000 within 5 miles; averagehousehold income $42,000; developerRedcliff Realty Management (ByronBreau), 40 University Ave, Ste. 1200,Toronto, ON M5J 1T1, (416) 941-

1707, Email: [email protected], ON: $200 million expansionto begin in ‘12 on 971,000 sq. ft. St.Laurent Shopping Centre on 45 acresat St. Laurent Blvd and Queensway(See SCD, P. H7); project to increasethe mall to about 1.3 million sq. ft. andcreate two new 80,000 sq. ft. spacesand 233,700 sq. ft. for smaller retail-ers; anchors The Bay, Sears, Toys RUs, Sport Chek; 220 stores; parking3,942 cars; staged development willbe completed by ‘15; population175,000 within 3 miles; average house-hold income $65,000; developerMorguard REIT, 1 University Ave,Ste. 1400, Toronto, ON M5J 2P1, (416)369-1711.

NEW AND EXPANDING CENTERS201,000-500,000 SQ. FT.

CALIFORNIALake Elsinore: Proposed $120 million,400,000 sq. ft. Lake Elsinore WorldTrade Outlet Center on 100 acres acrossfrom the Lake Elsinore Outlets inOrange County; project to includeabout 300 shops featuring retailersselling spices, health foods, naturalfoods and similar products; in addition,residential living areas could be builtabove the shops, as well as a hotel;first phase could be completed by ‘12;developer CKS Western Inc (Kang-Shen Chen), 6984 E Overlook Terrace,Anaheim, CA 92807, (714) 281-1888.Visalia: Macy’s on schedule to openshortly, replacing former 150,000 sq.ft. Gottschalks at 440,000 sq. ft. VisaliaMall at S Mooney Blvd and WalnutAve in Tulare County (See SCD, P.J423); anchors also include JCPenney;75 stores; other new or remodeledtenants include a 3,899 sq. ft. FootLocker, Vans, Nail 2000, Jouney's,Journey’s Kids, The Valley OakSociety for Prevention of Cruelty toAnimals, The Halloween Store, andIsla Tequila Bar and Grill; parking2,200 cars; opened ‘64; population399,224; average household income$54,136; developer General Growthof California, 110 N. Wacker Dr.,Chicago, IL 60606, (312) 960-5000,www.ggp.com.

INDIANAGary: Owners ‘very interested’ inbuilding a museum honoring late popstar Michael Jackson at 304,725 sq. ft.The Village Shopping Center on 40acres at S Grant St and 35th Ave inLake County (See SCD, P. F985);anchors A.J. Wright and IndianaDevelopment of Workforce; projectcould also include a hotel, a performingarts center, and a theme park; parking1,700 cars; opened ‘55; population159,287within 5 miles; averagehousehold income $51,397; developerThe Emmes Group of Companies, 420Lexington Ave, Ste. 900, New York,NY 10170, (212) 293-8900, www.emmesco.com; leasing Zifkin Realty(Tyler Quast), 560 W Washington, Ste.# 400, Chicago, IL 60661, 312-624-7762, Email: [email protected].

MASSACHUSETTSBourne: New owners have submittedreconfigured plans that include a65,000 sq. ft. grocery store (possiblyStop & Shop or Roche Brothers) atSagamore Outlet Mall in BarnstableCounty (See SCD, P. J451); addition ispart of a 112,000 sq. ft. of de-velopmentto also include a pharmacy and arestaurant; 20 stores; project couldtake a year to complete; developer HighRock Factory Outlet Road LLC and

(continued)

"The Locations Newsletter"of the US and Canada

PO Box 83720 N. Broadway

Nyack, NY 10960(845) 348-7000

FAX (845) 348-7011

EDITORIAL CALENDAR AND APPROACH

Published since 1973, SHOPPING CENTER DIGEST is a twice-monthly newsletter that pre-sents more information than any other publication on new and expanding shopping centers, shop-ping centers with lease space available, and the expansion plans of retail tenants in the U.S. andCanada.

Each regular, 12-page issue follows a strict format of presenting data in organized, easily readand used material. Information on New and Expanding Shopping Centers is arranged accordingto type of project: regionals, medium-sized, strips, and Upscale Specialty, Mixed-Use, Entertain-ment. A separate column is set aside for existing centers with Lease Space Available.

Material is arranged alphabetically by state/province, and then alphabetically again by town.Emphasis is given to specific details on each project–GLA, anchors, stores, parking, trade area,etc.–especially on the names, addresses and telephone numbers of owner/developers and those re-sponsible for leasing.

Another important column, Retailers Seeking Space, concentrates on the latest expansion plansof leading chains–number of stores existing, number planned, average size of units, sales per sq. ft.,site criteria–with special attention to the name, address, telephone and fax numbers of those respon-sible for leasing. Listings are organized by retail category.

Other regular columns are Strolling the Agora, commenting on trends, changes in the industry,and important events; didja hear...???, for people, company changes, top news; Financial Sales/Results of leading chains and REITs. A page for Classified Advertising is set aside in each issue.

Several times each year, SHOPPING CENTER DIGEST expands into a magazine and acceptslarge amounts of display and color advertising. These issues include the ICSC Convention Issue inthe spring, when the number of pages has grown to over 100 pages, and an extra 11,000 copies aredistributed at the May event. For this, and other special issues that tie-in to regional dealmakings,by-lined articles by industry leaders on specific topics may be considered.

Editorial deadlines are 12 days prior to the date of publication, usually the first and third Mon-days of each month. The deadline for the special issues is 3 weeks prior to publication date.

Member, International Council of Shopping Centers

Conceiving andDevelopingQuality RealEstate for 40Years

Mall Properties, Inc.654 Madison AvenueNew York, NY 10065

Telephone: 212.935.1330Fax: 212.832.5369

[email protected]

HotelsColumbus, OH (Easton)Hilton Columbus,Courtyard by Marriott,Residence Inn by Marriott

Marco Island, FLHilton Marco Island

Baton Rouge, LACourtyard by Marriott,Residence Inn by Marriott

Fairfax, VAMarriott

C U R R E N T P R O J E C T S

Introducing Peninsula Town Center, Hampton, VirginiaMall Properties is proud to announce the 2009/2010 opening of Peninsula TownCenter. The modern, energetic mixed-use development features Target, Macy’sand JCPenney, top restaurants, leading specialty shops and office space, as well asupscale residential units set around beautifully landscaped parks.Mercury Plaza, Hampton, VirginiaOpportunities for anchor and in-line spaces are available now at Mercury Plaza.Located on one of the busiest retail thoroughfares in the Tidewater/HamptonRoads area, the $250 million dollar redevelopment of Peninsula Town Center isexpected to attract even more retail growth to Mercury Plaza, adjacent to thearea’s only Bass Pro Shop.

Akers Mill Square (400,000 sf)—Cobb County, AtlantaBed Bath & Beyond, Sports Authority, Toys “R” Us, OfficeMax, LA Fitness, Party City

Cortana Mall (1,650,000 sf)—Baton RougeDillard’s, JCPenney, Macy’s, Sears

Cortana Square & Fringe (370,000 sf)—Baton RougeWal-Mart, Lowe’s, Babies “R”Us, Old Navy, Bed Bath & Beyond, Shoe Carnival,Guitar Center, Office Depot

Siegen Lane Marketplace (1,000,000 sf)—Baton RougeWal-Mart, Sam’s, Lowe’s, Bed Bath & Beyond, Old Navy, T.J. Maxx, Kohl’s, Chili’s,Chuck E. Cheese’s, Wendy’s, Courtyard by Marriott, Residence Inn

Sicily’s Plaza (27,500 sf)—Baton RougeSicily’s Italian Buffet, Oreck Vacuum, Honey Baked Hams, GameStop

West Plaza, Glendive—Kmart

The Center at 17, Paramus—Bed Bath & Beyond, T.J. Maxx

Great South Bay (500,000 sf)—Babylon, Long IslandBed Bath & Beyond, Marshalls, Old Navy, Ann Taylor Loft, Panera Bread,Bath & Body Works, The Children’s Place

King Kullen Plaza, Babylon, Long Island—King Kullen, Rite Aid

Manhasset—Crate & Barrel, Abercrombie & Fitch, lululemon athletica, Abercrombie,Victoria’s Secret, J. Crew, Sephora, Bebe, H&M

Northway Mall (600,000 sf)—Colonie (Albany)Target, Marshalls, Jo-Ann Etc, Staples, David’s Bridal, BJ’s Wholesale Club, Petco,Dress Barn, Eddie Bauer Outlet

Parkchester Retail District—Bronx650,000 sf. of Retail Shops with Macy’s, Offices and over 12,000 Apartments

Savoy Shops—Third Avenue, 60th-61st Streets, New York City65,000 sf. of Retail Shops, California Pizza Kitchen, Dylan’s Candy Bar

St. David’s Square (217,000 sf)—St. David’s, PhiladelphiaT.J. Maxx, Bed Bath & Beyond, HomeGoods, Genuardi’s, Micro Center

Mercury Plaza (350,000 sf)—HamptonBurlington Coat Factory, Texas Steakhouse & Saloon, Cracker Barrel Old Country Store,Wachovia Bank, GNC, Supercuts

Coliseum Square (43,000 sf)—HamptonLane Bryant

ResidentialParkchester, Bronx, NY12,271 Apartments650,000 Square Feet of Retail

Georgia

Louisiana

Montana

New York

Pennsylvania

Virginia

Peninsula TownCenterHampton, Virginiawww.peninsulatowncenter.com

New Jersey


(continued)

Compass Realty Associates (MikeCahill), 20 Mall Rd, Ste. 325, Bur-lington, MA 01803, (781) 425-5511.

MINNESOTA

Alexandria: New management plansrenovation of 208,400 sq. ft. VikingPlaza at 3015 Hwy 29 S; project toinclude a new entrance, indoor playareas, new outdoor signage, freewireless internet service throughoutthe mall, more public seating areas,and the possiblilty of new restrooms;anchors JCPenney, Herberger’s, andJo-Ann Fabrics; 34 stores; developerLexington Realty International (IraEinhorn), 911 E County Line Rd,Lakewood, NJ 08701, (732) 415-6881,Email: [email protected].

NEW YORKPelham Manor: $10 million re-postioning underway on 268,172 sq.ft. Post Road Plaza 1/4 mile N of I-287and U.S. Rt. 1 in Westchester County(See SCD, P. J141); a 75,000 sq. ft.Fairway Market to open in February orMarch of next year; in addition, anexisting Modell’s Sporting Goods isexpanding into 20,000 sq. ft. and willreopen this fall; longtime tenant, DressBarn, will open in a 7,500 sq. ft. space,and a new Marshalls Shoes will lease10,000 sq. ft.; anchors also includeA.J. Wright; parking 1,276 cars;population over 1 million within fivemiles; average household income$64,128; developer Levin Manage-ment, PO Box 326, Plainfield, NJ07061-0326, (908) 755-2401, www.levinmgt.com; leasing Aries Deitch &Endelson, Inc, 110 S Central Ave,Hartsdale, NY 10530, (914) 949-2800.

NORTH CAROLINADurham: Plans approved for 431,052sq. ft. Brightleaf Commons on 71 acresat U.S. 70 and Sanders Ave, next to theBrightleaf at the Park subdivision inWake County; construction should takeabout 18 months; developer RealEstate Associates, 3633 Durham-Chapel Hill Blvd, Durham, NC 27707,(919) 489-2000, Email: [email protected]: Proposed Shoppes at Marionat on Sugar Hill Rd (currently home ofthe Blue Ridge Mobile Home Park) inMcDowell County (See SCD, P. J427);anchors Wal-Mart Supercenter

195,000 sq. ft.; population 12,626within 3 miles; average household in-come $30,930; developer WRS Inc(Reed Brownell), 1415 Stuart EngalsBlvd, Mount Pleasant, SC 29464, (843)654-7870, Email: [email protected].

OHIOUpper Arlington: New owners plandemolition and redevelopment of252,000 sq. ft. Kingsdale ShoppingCenter on 21.7 acres at Northwest Blvdand Tremont Rd in Franklin County(See SCD, P. J465); property willinclude 220,000 sq. ft. of retail spaceincludng a new 121,000 sq. ft. GiantEagle Market to be completed nextyear; 48 stores; parking 1,360 cars;opened ‘59; population 103,576 within3 miles; average household income$65,577; developer Echo Continental,150 E Broad St, Columbus, OH 43215,(614) 221-1800, Email: [email protected].

PENNSYLVANIAExeter Twp: Many tenants arebeginning to open at $75 million ExeterCommons currently under constructionon 44 acres off Perkiomen Ave, nearW Shore Bypass, or Rt 422 in BerksCounty (See SCD, P. J153); in additionto Target, which recently opened, othertenants ready to open include T-Mobile, Staples, GameStop, Supercuts,and Lowe’s; Chick-fil-A, Sonic,America's Drive-In, Five Guys Burgers& Fries, and Red Robin are alreadyopen; developer Exeter JV Associates,a j/v of The Goldenberg Group of BlueBell, PA, and Ironwood PropertyGroup, 70 Portland Rd, W Consho-hocken, PA 19428, (610) 941-1164,www.ironwoodproperties.com.

SOUTH CAROLINAEasley: Town ordinance allows forthe appropriation of up to $1.7 millionfor a proposed Easley Town Centershopping center on 130 acres at onU.S. 123 and Rock Springs Rd, whereSaco Lowell plant now exists (SeeSCD, P. I436); developer joint ventureCedarwood Development Inc, 1765Merriman Rd, Akron, OH 44313-5251,(330) 836-9971, www.cedarwoodd.com and Commercial DevelopmentAssociates (Gary Brown), 12602 SW88th St, Miami, FL 33186-1867, (305)662-8999.

(continued)

Conceiving andDevelopingQuality RealEstate for 40Years

Mall Properties, Inc.654 Madison AvenueNew York, NY 10065

Telephone: 212.935.1330Fax: 212.832.5369

[email protected]

HotelsColumbus, OH (Easton)Hilton Columbus,Courtyard by Marriott,Residence Inn by Marriott

Marco Island, FLHilton Marco Island

Baton Rouge, LACourtyard by Marriott,Residence Inn by Marriott

Fairfax, VAMarriott

C U R R E N T P R O J E C T S

Introducing Peninsula Town Center, Hampton, VirginiaMall Properties is proud to announce the 2009/2010 opening of Peninsula TownCenter. The modern, energetic mixed-use development features Target, Macy’sand JCPenney, top restaurants, leading specialty shops and office space, as well asupscale residential units set around beautifully landscaped parks.Mercury Plaza, Hampton, VirginiaOpportunities for anchor and in-line spaces are available now at Mercury Plaza.Located on one of the busiest retail thoroughfares in the Tidewater/HamptonRoads area, the $250 million dollar redevelopment of Peninsula Town Center isexpected to attract even more retail growth to Mercury Plaza, adjacent to thearea’s only Bass Pro Shop.

Akers Mill Square (400,000 sf)—Cobb County, AtlantaBed Bath & Beyond, Sports Authority, Toys “R” Us, OfficeMax, LA Fitness, Party City

Cortana Mall (1,650,000 sf)—Baton RougeDillard’s, JCPenney, Macy’s, Sears

Cortana Square & Fringe (370,000 sf)—Baton RougeWal-Mart, Lowe’s, Babies “R”Us, Old Navy, Bed Bath & Beyond, Shoe Carnival,Guitar Center, Office Depot

Siegen Lane Marketplace (1,000,000 sf)—Baton RougeWal-Mart, Sam’s, Lowe’s, Bed Bath & Beyond, Old Navy, T.J. Maxx, Kohl’s, Chili’s,Chuck E. Cheese’s, Wendy’s, Courtyard by Marriott, Residence Inn

Sicily’s Plaza (27,500 sf)—Baton RougeSicily’s Italian Buffet, Oreck Vacuum, Honey Baked Hams, GameStop

West Plaza, Glendive—Kmart

The Center at 17, Paramus—Bed Bath & Beyond, T.J. Maxx

Great South Bay (500,000 sf)—Babylon, Long IslandBed Bath & Beyond, Marshalls, Old Navy, Ann Taylor Loft, Panera Bread,Bath & Body Works, The Children’s Place

King Kullen Plaza, Babylon, Long Island—King Kullen, Rite Aid

Manhasset—Crate & Barrel, Abercrombie & Fitch, lululemon athletica, Abercrombie,Victoria’s Secret, J. Crew, Sephora, Bebe, H&M

Northway Mall (600,000 sf)—Colonie (Albany)Target, Marshalls, Jo-Ann Etc, Staples, David’s Bridal, BJ’s Wholesale Club, Petco,Dress Barn, Eddie Bauer Outlet

Parkchester Retail District—Bronx650,000 sf. of Retail Shops with Macy’s, Offices and over 12,000 Apartments

Savoy Shops—Third Avenue, 60th-61st Streets, New York City65,000 sf. of Retail Shops, California Pizza Kitchen, Dylan’s Candy Bar

St. David’s Square (217,000 sf)—St. David’s, PhiladelphiaT.J. Maxx, Bed Bath & Beyond, HomeGoods, Genuardi’s, Micro Center

Mercury Plaza (350,000 sf)—HamptonBurlington Coat Factory, Texas Steakhouse & Saloon, Cracker Barrel Old Country Store,Wachovia Bank, GNC, Supercuts

Coliseum Square (43,000 sf)—HamptonLane Bryant

ResidentialParkchester, Bronx, NY12,271 Apartments650,000 Square Feet of Retail

Georgia

Louisiana

Montana

New York

Pennsylvania

Virginia

Peninsula TownCenterHampton, Virginiawww.peninsulatowncenter.com

New Jersey


NEW AND EXPANDING CENTERSUP TO 200,000 SQ. FT.

ARIZONAPhoenix: Financing lined up and workis ready to begin on a planned Fresh &Easy Neighborhood Market-anchoredshopping center on 6.88 acres at NWcorner of Greenway Rd and TatumBlvd (See SCD, P. J390); developerTown and Country Camelback, LLC(James Shough), 2021 E CamelbackRd, Ste. A38, Phoenix, AZ 85016,(602) 710-2122, Email: [email protected].

CALIFORNIALincoln: New owners plan $3.5million "facelift" of former RainbowMarket at 255 G St; in addition,company has a $6 million budget tobuy and redevelop the parking lot(adding 32 more parking spaces),landscape, and remodel; architectsSterling Pointe and Lincoln Crossingarchitects and Rauschenback marvelliBecker Architects; developer KatzKirkpatrick Properties, 3300 DouglasBlvd, Ste. 385, Roseville, CA 95661,(916) 780-6670, www.kkprop.net.North Park: Construction undrwayon 21,000 sq. ft. shopping centeranchored by a 14,000 sq. ft. Fresh &Easy Neighborhood Market on lessthan one acre at SE corner of University

Ave and 32nd St; tenants will alsoinclude San Diego National Bank 3,200sq. ft.; project to also include groundfloor parking; opening next year;contractor Whiting-Turner Con-tracting; architect Maple M3 Archi-tects; developer Meridian Properties(Mike Kalscheur), TOLD Properties,6185 Paseo Del Norte, Ste. 200,Carlsbad, CA 92011, (760) 710-3020.Palm Desert: $2 million in renovationshave begun on 140,000 sq. ft. Plaza deHacienda at Washington St and HovleyLane E; new design will feature morecontemporary, with updated roof lines,tower-like elements and new awnings;anchor Albertson’s; other storesinclude CVS Pharmacy, Dollar Tree,The 19th Hole, Starbucks, PandaExpress, Video Depot ,and the PostalConnection; developer FKC PropertiesInc (Brett S. Albrecht), 101 S KraemerBlvd, Ste. 136, Placentia, CA 92870,(714) 528-9864, Email: [email protected].

San Luis Obispo: City Council toreview an environmental impact reportfor a proposed 188,000 sq. ft. PrefumoCreek Commons on 31 acres on LosOsos Valley Rd, across from theentrance to Costco and Home Depot

(continued)WISCONSIN

Grafton: Aldi grocery store hassigned a lease for a 17,000 sq. ft. storeat Grafton Commons at Port Washing-ton Rd and Hwy 60; anchors Costco,Kohl’s Department Store, Michael’s,Best Buy, and Dick’s Sporting Goods;other tenants include WG & R SleepShop, Qdoba, Verizon Wireless, AAA,and Petsmart; population 41,531;average household income $76,376;developer Continental PropertiesCompany Inc (Tom Vaughn), W134N8675 Executive Pkwy, MenomoneeFalls, WI 53051, (262) 532-9367,Email: [email protected]: A 130,000 sq. ft. Targetand Pick ‘n Save have opened at500,000 sq. ft. The Shoppes at FoxRiver on 54 acres along Sunset Dr(former Supervalu distribution center)

(See SCD, P. J463); project to includemore than a dozen smaller stores andother tenants which may have alreadyopened include Buffalo Wild Wings,Noodles & Company, Verizon, Mau-rices, Famous Footwear, Petco andChili’s Grill & Bar; developer OpusNorth (Jeff Hook), 10350 Bren Rd W,Minnetonka, MN 55343, (952) 656-4874,Email: [email protected].

CANADASudbury, ON: Construction onschedule for a ‘10 opening of SilverHills Centre with more than 320,000sq. ft. of retail space at Barrydown Rd,S of the Kingsway Hwy (See SCD, P.J404); project to include seven big-box retailers, including Lowe’s HomeImprovement Warehouse and BestBuy; developer Arg Devco, 76 Loach’sRd, Sudbury, ON P3E 2P7, (705) 522-9444.

(See SCD, P. J451); anchor Target139,000 sq. ft.; parking 838 cars;developer Madonna Properties (ClintPearce), 284 Higuera St, San LuisObispo, CA 93401, (805) 543-0300,Email: [email protected].

FLORIDAMount Dora: Construction has begunon $20 million, 160,000 sq. ft. LochLeven Landing on 22 acres at U.S.Hwy 441 and State Rd 44; anchorPublix 54,000 sq. ft.; center to includeanother 17,200 sq. ft. of inline spaceand 10 outparcels; other tenants willinclude Great Clips, Today’s Nails,China Star, Alysa Cleaners, and a liquorstore; project could also include officespace; opening May ‘10; architectCuhaci & Peterson Architects LLC;contractor Kelsey Construction Inc;developer Morse Properties (DavidMorse), 240 Springside Rd, Long-wood, FL 32779, (407) 661-1128.Ocoee: Ground work has beencompleted and building constructioncould be underway in early ‘10 on50,000 sq. ft. Shoppes of West Oakson 10 acres at W Colonial Dr and GoodHomes Rd in Orange County; anchorAldi grocery 20,000 sq. ft.; developerRetail Investment Special-ists LLC(Alan Charron), 6700 Conroy Rd, Ste.230, Orlando, FL 32835, (407) 291-9000, Email: [email protected].

GEORGIACorvallis: Trader Joe’s has begunconstruction on a new 12,000 sq. ft.store scheduled to open in late ‘09 atCorvallis Market Center at NW 9th Stand NW Garfield Ave; developerRegency Centers, One Independent Dr,Ste. 114, Jacksonville, FL 32202-3842,(904) 598-7000, www.regencycenters.com.

KANSASSalina: Tax financing will supportsome of the funding required to repairthe fire damaged The Sunset Plaza;anchor Dillon’s supermarket; othertenants include McDonald's; developerMaxus Properties, 104 Armour Rd,Kansas City, MO 64116, (816) 421-4670.

ILLINOISChicago/Mt. Greenwood: A new17,500 sq. ft Walgreens to anchor a$10.9 million shopping center opening


(continued)

next summer at NW corner of KedzieAve and 111th St; project to get $1.5million TIF assistance; developerTerraco, Inc (Scott Gendell), 8707Skokie Blvd, Ste. 203, Skokie, IL60077-2281, (847) 679-6660, Email:[email protected].

NEW JERSEY

Allendale: Multi-million dollar reno-vation and expansion has begun on84,290 sq. ft. Allendale Shopping Plazaon 6.9 acres at W Allendale Ave andDeMurcurio Dr in Bergen County (SeeSCD, P. J208); project to include anewly designed parking lot, newlandscaping, new building facade, newlight poles, new sidewalks, and 5,000sq. ft. of new store space; anchorsA&P Fresh 38,060 sq. ft., CommerceBank 11,290 sq. ft., and LearningExpress 3260 sq. ft.; parking 250 cars;opened ‘67; leasing Azarian RealtyCo (John Azarian), 6 Prospect St, Ste.1B, Midland Park, NJ 7432, (201) 444-9888, [email protected].

OHIO

Cuyahoga Falls: Former State Road

Shopping Center has been demolishedto make way for 150,000 sq. ft., $30million to $50 million Portage Crossingshopping center on 25 acres at StateRd and Portage Trail in SummitCounty; project to be anchored by a60,000 to 90,000 sq. ft. grocery store;opening ’11; additional phases, whichmight tally $60 million could involvemore retail or housing; developerRobert L. Stark Enterprises, 1350 W3rd St, Cleveland, OH 44113, (216)464-2860.

OREGONCorvallis: Construction to begin againthis month on $17.5 million, 87,000sq. ft. CCC Plaza on 9 acres at NWNinth St, adjacent to Office Max andOSU Federal Credit Union; groundwas originally broken in the beginningof ‘08, but was stalled after a financingagreement fell apart; anchor WilcoFarm Store 35,000 sq. ft.; project couldalso include Red Robin restaurant;developer C.W. Clark (Craig Clark),4180 La Jolla Village Dr, Ste 405, LaJolla, CA 92037, (858) 452-7170,Email: [email protected].

PENNSYLVANIAHamiltonban Twp: Proposed 13,645sq. ft. Fairfield Market at Fairfield(Rte 116) and Iron Springs Rd; anchorFood Lion; project to include arestaurant, retail, service and businessuses; developer JDH Capital, 3735Beam Rd, Ste. B, Charlotte, NC 28217,(704) 357-1220, www.jdhcapital.com.

SOUTH CAROLINAAnderson: Leasing continues on 7,250sq. ft. Sunset Plaza currently underconstruction on S.C. 81; tenants willinclude Quiznos, Great Clips andVerizon Wireless; two 1,257 sq. ft.spaces are available; leasing SunsetProperties of South Carolina Inc(Randy Hart), 1325 Brushy Creek Rd,Easley, SC 29642, (864) 855-6433.

TEXASEl Paso: Construction nearing comple-tion on 9,200 sq. ft. The Shops at GloryRoad across the street from the DonHaskins Center and in front of theplanned location of the $9 million SunMetro bus terminal and 442-space

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CALIFORNIALa Costa/Carlsbad: Planning com-mission approves a proposed La CostaTown Square on 83 acres at RanchoSanta Fe Rd and La Costa Ave; “high-end” project to include a 284,000 sq.ft. community shopping center, a55,000 sq. ft. office project, 64 single-family homes, and a multi-use resi-dential project; developer AspenProperties, 8799 Balboa Ave, Ste. 270,San Diego, CA, San Diego, CA 92123-1538, (858) 268-8901.

FLORIDABradenton: Economic conditionshave stalled a second phase ofdevelopment of The Promenade atRiverwalk along the Manatee River indowntown; developer still plans tomove ahead with planned project thatwill include two, four- to five-storyresidential buildings known as RiverSong, a 94-room hotel, and 120,000

sq. ft. of restaurant, retail, and officespace to compliment the existing RiverDance condominium complex; de-veloper Bradenton Riverfront Partners(Ed Vogler II), c/o City of Bradenton101 Old Main St W, Bradenton, FL34205-, (941) 932-9400, www.cityofbradenton.com.Bradenton: When the economyimproves, plans will move forward forthe $100 million Metro Marqueemixed-use at 301 Seventh St. W;project to include 40,000 sq. ft ofground retail below two condominiumtowers, with a total of 100 residentialunits; retail to be anchored by a grocerystore; developer Enterprise Associatesof Sarasota, FL (Mike Hamad) c/oTim Polk director of the BradentonPlanning and Community Develop-ment Depart-ment, City Hall, 101 OldMain St, Bradenton, FL 34205, (941)932-9423, www.cityofbradenton.com.

UPSCALE SPECIALTY,LIFESTYLEMIXED-USE, ENTERTAINMENT

(continued)parking garage; Panda Express and anon-restaurant national tenant mayhave already opened; other tenants willincluding Salad Creations and Aroma;developer G.E.M. Real Estate Invest-ments (Gilbert Malooly Sr), 3737Gateway W, El Paso, TX 79903, (915)565-3737, Email: [email protected].

CANADAAirdie, AB: Planned KingsviewMarket on 38 acres at Yankee ValleyBlvd; shopping center with a "main-street theme" to be anchored by anational home improvement centre;initial 10-acre phase to also include anational pharmacy, financial insti-tution, and 12,000 sq. ft. of CRU; future

plans will consist of a mixed-usedevelopment with pedestrian-friendly"connections" to the city's existing trailsystem; population 78,162; averagehousehold income $100,000; de-veloper Melcor Development (JesseRudge), #900, 10310 Jasper Ave,Edmonton, AB T5J 1Y8, (780) 945-4653, Email: [email protected].

Ponte Vedra: Proposed redesignmoves forward for the transformationof 140,832 Sawgrass Village at PGATour Blvd in St. John’s County (SeeSCD, P. J452); urban ‘mixed-use’shopping center encompassing 14buildings to include 192,000 sq. ft. ofcommercial area and 115,000 sq. ft. ofoffice space; retail and restaurant to beon 1st floor with offices and 325 multi-family residential units on upper floors;tenants include Publix, Aqua Grill,Cafe Andiamo, Elizabeth’s Cafe, andEtto Japanese Restaurant; developerBailard Sawgrass LLC c/o RREEFLeasing and Property Management(Becky Good), (904) 273-4933, Email:[email protected].

GEORGIAMorrow: Construction on scheduleand many businesses scheduled to openby Thanksgiving on Olde TownMorrow on 16 acres off SouthlakeCircle, near Southlake Mall; tenantswill include Incredible SouthernPoundcakes, Maguire’s Family andFriends pub, Designs by Delores, TheDuchess Closet, Round and Round WeGrow, Christi Trees, Olde Town Quilts,and Fixins of Jonesboro; project toalso include a 28,000 sq. ft. conferencecenter for events and dining; leasingCity Manager John Lampl, 1500Morrow Rd, Morrow, GA 30260, (678)300-4312.

ILLINOISArlington Heights: Planned $100million Eastern Tower mixed-usedevelopment on 2.5 acres at inChinatown at 24th St and Wallace Ave;project to include a six-level com-munity center, indoor mall and parkingfacility, 102 condominiums in a 7-

If there’s one part of the realestate industry that is booming,it is the private sector were asubstantial number of initial publicofferings are being peddled on WallStreet by investors planning to ac-quire distressed properties.

Several of these IPOs are inthe $1 billion range, with manymore ranging in the hundreds ofmillions of dollars. Many exist-ing Real Estate InvestmentTrusts have re-financed theirdebt to position themselves to

acquire at fire-sale prices shop-ping centers, office buildings,and residential properties ascash-strapped owners are forcedto go to market, say financialconsultants.

Inland Real Estate Group,which has already bought over$1 billion of shopping centers,residential and industrial prop-erties this year, may be the mostaggressive, thus far. Last year,the company paid out more than$3 billion for acquisitions.

New IPOs Prepare To Buy Properties


An upstate NY court orderedCitigroup to resume paymentson its $155 million constructionloan on the $6 billion DestinyUSA, a retail/entertainmentproject being built in Syracuseby developer Robert Congel.

Though the bank has ap-pealed and a normal timeline issix months, developers Aug 17urged the court to expedite adecision so construction couldresume.

The massive enterprise isbeing built as an expansion of1.3 million sq. ft. Carousel Cen-ter.

Citigroup contended theproject was a failure due to weakleasing and that the bank stoppedfunding becauseCongel failed to

provide an additional requiredeqity of $15 million.

Supreme Court Justice JohnChereundolo ruled the claim waserroneous and suggested thebank was trying to get out of itsfunding commitments to previ-ous capital. He noted that sinceit received some $44.5 billion infederal bailout money, “the de-fendant surely cannot be immuneto liquidity issues.”

In similar controversies,some say, financial institutionsare demanding developers anteup additional moneys due to costoverruns and falling real estatevalues; developers counter thatlenders are using sliding valuesand weak demands as excuses tohalt their funding obligations.

Court Tells Banker To Keep FundingDestiny Construction

(continued)

story building and a 22-story high risewith 150 condominiums and 100deluxe hotel rooms; in addition,developer is also proposing a nearby,$50 million Grand Imperial HotelCondominium; developer WabashDevelopment Group (See Y. Wong),2310 S Canal St, Chicago, IL 60616,(312) 360-1818.Zion: Planned $40 million MarketSquare downtown urban renewalproject; $13 million phase one toinclude retail, an 84-room Best WesternInn & Suites Hotel, a 220-seat banquetfacility, a 24-hour fitness facility,professional meeting space, and a full-service restaurant ; a second phase willinclude retail space, condominiums,and a parking struc-ture; in addition, athird phase will include more resi-dential and office components; de-veloper c/o City of Zion, Director ofPlanning and Economic Development(Delaine Rogers), 2828 Sheridan Rd,Zion, IL 60099, (847)746-4015, www.cityofzion.com.

MICHIGAN

Detroit: Several stores have opened at40,000 sq. ft. Shops at Kresge Buildingat 1201 Woodward Ave and State St;historic Kresge Building has beenconverted into a ‘mini-mall’ with amix of 120 national retailers, and localand specialty retailers and boutiques;developer Dennis Kefallinos, 1201Woodward Ave, Detroit, MI 48226;leasing Erc Novak, (313) 471-9750,www.shopkresge.com.Grand Rapids: New investorsrevitalize a planned, yet long-delayedlifestyle center on six acres at KnappSt and E Beltline Ave NE; pedestrian-friendly project to be anchored byD&W Fresh Market; other tenants willinclude P.F. Chang’s China Bistro;project will feature the developmentof streets, sidewalks, bike paths, sewer,and water lines; developer EvergreenProperties of Michigan, Inc. (SteveBenner), 6274 28th St SE, GrandRapids, MI 49546, (616) 954-5400,Email: [email protected].

MISSOURI

Springfield: Developer sought for aproposed 1.8 million sq. ft. of retailspace on 100 acres N of the U.S. 60-65interchange; upper-end outlet mall tofeature a mix of a lot of different

tenants; mixed-use development toalso include, a hotel, business offices,and retirement community homes;architect Butler, Rosenbury & Partners;client representative R.B. MurrayCompany (Rob Murray III), 2225Blackman Rd, Springfield, MO 65804,(417) 881-0600, Email: [email protected].

NORTH CAROLINADurham: City council approved $2.6million worth of incentives for theredevelopment of Hill (Sun Trust)Building; project to include a hoteland the renovation of three smallerdowntown building for stores andapartments; company must invest atleast $47 million of its own money andmeet construction deadlines; developerGreenfire Development, 101 W MainSt, Durham, NC 27701, (919) 667-9770, Email: [email protected].

OREGONPortland: Developer expects toreceive between $8 million and $10million worth of Portland DevelopmentCommission money to begin con-

struction by January ‘11 on $70million, Old Town at NW Fifth Ave,between Couch and Davis Sts; anchorUwa-jimaya Asian Supermarket;mixed-use project to also include a‘large, banquet-oriented’ restaurant tosite below more than 100 housing units;developer Doug Obletz of Shiels,Obletz, and Johnsen, 1140 SW 11thAve, Ste. 500, Portland, OR 97205,(503) 242-0084, www.sojpdx.com.

PUERTO RICOSan Juan: Proposed mixed-useredevelopment of 100 acres on the SanJuan waterfront district, just E of thehistoric Old San Juan district on th SanAntonio Channel (Isleta); 21-blockproject to include retail, residential,hotel, office and parking components,as well as public parks, including amarina; developer Forest City Enter-prises, Inc, 1100 Terminal Tower, 50Public Sq, Cleveland, OH 44113-2203,(216) 621-6060, www.fceinc.com.

CANADAToronto, ON: $640 million re-vitalization planned and construction


COLORADOLittleton: 190,000 sq. ft. The Marketat SouthPark at 7903 S Broadway inArapahoe County; new owners;anchors King Soopers, Big Lots, OfficeDepot, and Blockbuster; owner/leasingACF Property Management Inc, 7257S Tucson Way, Englewood, CO 80112,(303) 799-3566.

FLORIDAMiami Beach: 180,000 sq. ft. Shopsat Fifth & Alton vertical big-box shop-ping center at NE corner of Fifth Stand Alton Rd in South Beach (SeeSCD, P. I909); $80 million center hasrecently opened and is 93% leased;anchors Publix Supermarket (openingin October or November), Best Buy,Staples, T.J. Maxx, Ross Dress forLess, and Petco; parking 1,080 cars;developer/leasing joint venture Potam-kin Cos and Berkowitz DevelopmentGroup, 2665 S Bayshore Dr, Ste. 1200,Miami, FL 33133-5448, (305) 854-2800, www.berkowitzdevelopment.com.Miramar: 64,020 sq. ft. The Shoppesat Monarch Lakes at 14305 MiramarPkwy; new owners; anchor Publix51,420 sq. ft.; other tenants includeDunkin Donuts, Subway and UPS;owner/leasing Dizengoff Real EstateLLC, Ronen Saban, (561) 988-8448,Email: [email protected]

ILLINOISCicero: 300,000 sq. ft. HawthorneWorks at SEC Cermack Rd and CiceroAve in Cook County; new owners;95% leased; anchors a 14-screenKerasotes Theater, a 48,000 sq. ft.Cermak Produce grocery store, and a34,000 sq. ft. Famsa home goodsretailer; 39 stores; parking 1,278 cars;opened ‘88; population 965,004 withinfive miles; average household income$54,970; owner/leasing SterlingOrganization, 340 Royal PoincianaWay, Ste. 316, Palm Beach, FL, 33480,

(561) 835-1810, Email: [email protected].

KANSASFairway: 38,720 sq. ft. FairwayShopping Center at Shawnee MissionPkwy and Belinder Ave; new owners;891 sq. ft. and 1,280 sq. ft. available;owner/leasing Lane 4 Property Group(Trip Ross), 4705 Central St, Ste. 200,Kansas City, MO 64112, (816) 268-9113, Email: [email protected].

KENTUCKYLouisville: 530,000 sq. ft. SpringhurstTowne Center on 110 acres at I-265(Gene Snyder Frwy) and Westport Rdin Jefferson County (See SCD, P.F902); new owners; anchors T.J. Maxx,Cinemark Theatres, Kohl’s, FashionShop, Liquor Barn, Dick’s SportingGoods, Target, Meijer, and OfficeMax;40 stores; parking 4,770 cars; opened‘97; population 122,422 within fivemiles; average household income$83,065; owner/leasing Hocker Group,The 1000 Bldg,6200 Dutchmans Ln,LL2, Louisville, KY 40205, (502) 459-1591, www.thehockergroup.com.

MARYLANDDistrict Heights: 244,959 sq. ft. PennStation Shopping Center at Pennsyl-vania Ave and Silver Hill Rd in PrinceGeorge’s County (See SCD, P. I569);newest signed tenants AJ Wright25,000 sq. ft. and TGI Friday’s 5,546sq. ft.; center recently underwent arenovation that included improve-ments to lighting, facade, parking lot,signage and landscaping; anchors Sav-a-Lot Foods, National WholesaleLiquidators, Citi Trends, New HorizonDevelopment Center, and Factory CardOutlet; 48 stores; parking 1,522 cars;opened ‘89; spring ‘07; population366,074 within 5 miles; averagehousehold income $55961; developerjoint venture Perseus Realty Partners,2099 Pennsylvania Ave, Washington,DC 20006, (202) 741-8400, Robert

Haft, and The Rappaport Companies,8405 Greensboro Dr, Ste. 830,McLean, VA 22102-5121, (571) 382-1200, www.rappaportco.com.

MASSACHUSETTS

Dedham: 675,000 sq. ft. Legacy Placeon 40 acres at Elm St and ProvidencePkwy (See SCD, P. J447); 93% leased;anchors a 16-screen Cinema de Lux,L.L. Bean, Borders, and a 60,000 sq.ft. Whole Foods; 70 stores; parking2,800 cars; opened some stores havebegun to open; population 500,000people; average household income$100,000; developer/leasing jointventure National Amusements, 200Elm St, PO Box 9126, Dedham, MA02027-9126, (781) 461-1600, www.national-amusem.com and W/S De-velopment Associates (DavidFleming), 1330 Boylston St, Ste. 212,Chestnut Hill, MA 02467-2180, (617)232-8900, www.srweiner.com.

NEW JERSEY

Neptune: 220,000 sq. ft. NeptunePlaza Shopping Center on 61.5 acresat NE corner of Rt 66 and JumpingBrook Rd in Monmouth County (SeeSCD, P. G532); new owners; anchorsShop Rite, Marshall’s, Home Goods,TD Bank, IHOP, and Sally BeautySupply; 19 stores; opened ‘70; lastrenovated in ‘02; population 142,101within five miles; average householdincome $65,338; owner/leasing TheAzarian Group, LLC (John Azarian),The Azarian Bldg, 6 Prospect St, Ste.1B, Midland Park, NJ 07432, (201)444-7111, Email: [email protected].

OHIOMonroe: 400,000 sq. ft. CincinnatiPremium Outlets on 117 acres at SEcorner of I-75 and Ohio 63, near arecently opened 300,000 sq. ft. IKEAstore in Warren County (See SCD, P.J451); opened in August; 100 designerand name-brand outlet stores includeAdidas, BCBG, Max Azria, BananaRepublic, Brooks Brothers, Coach,Cole Haan, J.Crew, Kenneth Cole,Michael Kors, Nike, Polo RalphLauren, Saks Fifth Avenue Off 5th,and Tommy Hilfiger; developer/leasing Chelsea Property Group ofSimon Property Group, 225 W Wash-ington St, Indianapolis, IN 46204,(317) 636-1600, www.simon.com.

CENTERS WITH LEASESPACE AVAILABLE

(continued)to begin early next year on UnionStation at York and Front St W; planscall for a new lower-level retailconcourse as part of the country’s

biggest transportation hub; opening‘15; developer Union Station Re-vitalization, City of Toronto, 2nd Fl,Metro Hall, 55 John St, Toronto, ONM5V 3C6, (416) 338-0338.


CANADABalzac (just N of Calgary), AB: 1.4million sq. ft. CrossIron Mills on 283hectares E of Hwy 2 and S of Hwy 566(See SCD, P. J349); $495 million,80% leased center opened in Augustwith 17 anchors include Bass Pro Shops150,000 sq. ft., Bed, Bath and Beyond,Forever XXI, H&M, Holt Renfrew,Last Call, HomeSense, and Indigo; 200stores; parking 6,000 cars; developer/leasing Ivanhoe Cambridge (JohnScott), Carrefour Frontenac805, boul.Frontenac Est, Thetford Mines, PQG6G 6L5, (418) 338-6388, www.ivanhoecambridge.com.Tracadie-Sheila, NB: 87,508 sq. ft.Le Rond Point Mall at along ruePrincipal and Dr. Victor LeBlanc Blvd,adjacent to Atlantic Superstore & GasBar and Tim Horton’s; 92% occupied;available units range from 980 sq. ft.to 3,550 sq. ft.; anchors Hart, Dollar-

ama, KFC and Citi Financial; leasingAPM (Phil MacDonald), (902) 569-8400, Email: [email protected] Creek, ON: 551,361 sq. ft.Eastgate Square at Centennial Pkwy Nand Queenston Rd; 3,500 sq. ft.exterior unit is available adjacent toanchors Home Sense and Fortino;suggested uses including medicaloffice, dental, home decor, serviceuses, furniture, and beauty supply;other anchors include Sears, Wal-Mart,Jack Astor’s, Moore’s, and ShoppersDrug Mart; 100+ stores; opened ‘72;leasing Redcliff Realty Management(Byron Breau), 40 University Ave, Ste.1200, Toronto, ON M5J 1T1, (416)941-1707, Email: [email protected], ON: 180,000 sq. ft. EaglesLanding at NE corner of Dufferin andMackenzie (See SCD, P. I614); severalspaces from 700 sq. ft. and up are

available; suggested used includemedical/pharmacy, chiropractic/physio, service uses, bakery, travelagent, children’s clothing store, andmore; anchor Metro grocery; opened‘07; leasing Redcliff Property Manage-ment (Bryon Breau), 40 UniversityAve, Ste. 1200, Toronto, ON M5J 1T1,(416) 941-1707, Email: [email protected] Royalty, PEI: Royalty PowerCentre at Trans-Canada Hwy and Rt.2; opportunities exist for big box, stripmall, office and pad sites; anchor SearsCanada 108,900 sq. ft.; centre alsoincludes 45,000 sq. ft. of inline spacewith PEI Liquor Control retail outlet,HSBC Financial, and CAA De-velopment; population 135,000 sq. ft.;leasing APM (Philip MacDonald),(902) 569-8400. leasing APM (PhilipMacDonald), (902) 569-8400, Email:[email protected].

RETAILERS SEEKING SPACE`APPAREL

Abercrombie & Fitch, Hollister,Ruehl, and Gilly Hicks of 6301 FitchPath, New Albany, OH 43054; current-ly operating 350 Abercrombie & Fitch,210 abercrombie, 510 Hollister, 29Ruehl, and 16 Gilly Hicks storesnationwide; company will take the restof the year to review the number ofstores in each of its brands; do-mestically, company still plans to opentwo abercrombie stores, four Hollisterstores, one Gilly Hicks store, and twooutlet stores in fiscal ‘09; inter-nationally, company still plans to openone abercrombie store in Canada andseven Hollisters in the U.K. Jeff R.Sinkey, SVP Real Estate, (614) 283-6399, Fax (614) 283-8399, Email:[email protected] Taylor, LOFT, Ann TaylorFactory, and 10 LOFT Outlets div.of Ann Taylor Stores Corp of 7 TimesSquare, New York, NY 10036;currently operating 959 including 345Ann Taylor, 519 LOFT stores, 85 AnnTaylor Factory stores, and 10 LOFTOutlet stores in 46 states, DC, and PR;by year’s end, company expects totrim its total square footage 3.6%, as itcloses 53 locations and opens 14 newones. Buck Sappenfield, SVP RealEstate, (212) 536-4322, Fax (212) 536-

4411, Email: [email protected] 21, For Love 21, Gadzooks,and new larger Forever XX1 formatof 2001 S. Alameda St, Los Angeles,CA, Los Angeles, CA 90058; currentlyoperating more than 400 stores;company recently opened a new two-level 38,000 sq. ft. store in San Juan,PR; seeking 40,000 sq. ft. , but movingtoward a 80,000 sq. ft. model in majorenclosed malls and downtown street-fronts. Real Estate Director, (213) 741-5100, www.forever21.com.Saks Fifth Ave and Off Fifth div. ofSaks Inc. of 26100 Cedar Rd Beach-wood, OH 44122; currently operating53 Saks and 54 Off 5th discount outlets;company plans to open three to fivenew Off Fifth stores across the U.S. inoutlet malls and strip centers; companyhas letters of intent for Saks stores inWestchester County, NY, and SanJuan, PR. Vincent A. Corno, SVP RealEstate, (216) 292-6210, Fax (216) 292-5548, Email: [email protected] Children’s Place and DisneyStore of 915 Secaucus Rd, Secaucus,NJ 07094; currently operating 907Children’s Place and 328 Disney Storesnationwide and Canada; in ‘10,company plans to open 30 new stores,

primarily during the second and thirdquarter; seeking 5,500 sq. ft. to 6,000sq. ft. for Children's Place in powercenters and streetfronts. MelissaBoughton, SVP Store Development,(201) 453-7665, Fax (201) 558-2832,Email:[email protected].

CONVENIENCE STORES7-Eleven Inc of 1772 Routh St, Ste.100, Dallas, TX 75201; currentlyoperating approximately 5,700 lo-cations in the U.S.; company willexpand in the New York metropolitanarea with at least 44 units in New Yorkand 100 new stores in Southern CA inthe next three years; company currentlyhas approximately 800 stores inSouthern CA and expects to opennearly 50 this year; seeking 1,800 sq.ft. to 2,200 sq. ft. in major malllocations of 1 million sq. ft. or more inthe U.S. and Canada. Dan Porter, VPReal Estate, (972) 828-6835, Fax (972)828-8996, Email: [email protected]’s General Stores Inc of POBox 3001, 1 Convenience Blvd,Ankeny, IA 50021; currently operatingmore than 30 stores throughout IA andplans to add about 60 stores in ‘10throughout nine Midwestern state,either via acquisitions or new-storeconstruction. Real Estate Director,

(continued)


(continued)(515) 965-6106, Fax (515) 965-6160,www.caseys.com.

DEPARTMENT STORESJCPenney of 6501 Legacy Dr, Plano,TX 75024; currently operating 1,093units throughout the U.S. and PR;company has recently opened five newstores, including its first in New YorkCity; for ‘10, company plans to openanother five stores; seeking 150,000sq. ft for mall stores.; off-mall storesrequire approximately 100,000 sq. ft.Bradley Syverson, VP-Director of RealEstate, (972) 431-1738, Fax (972) 531-1738, Email: [email protected] and Nordstom Rack of1700 7th Ave, Ste. 1000, Seattle, WA98101-4407; currently operating 111Nordstrom full-line locations, 61Nordstrom Rack stores, two Jeffreyboutiques, and one clearance store in28 states; company plans to open atleast 14 Rack stores in ‘10, includingone store in Union Square, New York,NY; seeking 30,000 sq. ft. to 40,000sq. ft. in malls and power centers. JohnDolson, VP Real Estate, (206) 303-4408, Fax (206) 303-4419, Email:[email protected]

DISCOUNT

Five Below, Inc of 1616 Walnut St,Ste. 1600, Philadelphia, PA 19103;currently operating 80 extreme dollar/discount stores, focused exclusivelyon the needs and tastes of 10-15 year-olds in nine states on the East Coast,from NH to VA; on top of 20 newstores opening this year, the companyplans to open some 30 to 40 locationseach in ‘10 and ‘11; seeking 6,500 sq.ft. to 8,500 sq. ft. in lifestyle centers &malls; in addition, company is eval-uating new markets from NY, OH,NC, among others. Zach Minteer, (215)546-7909, Fax (215) 546-8099, Email:[email protected] and SuperTarget of 1000Nicollet Mall, Minneapolis, MN55402; currently operating 1,719 storesnationwide; company is on track toopen 75 (net 60) new stores this year;for ‘10, Target plans to open 12 newstores and close or replace two or threestores; seeking 128, 000 sq. ft. forTarget stores and 186,000 sq. ft. forSuperTarget stores nationwide. John

D. Griffith, EVP, Property Develop-ment, (612) 761-1487, Fax (612) 761-3740, [email protected].

FOOD, CANDY, ICE CREAM

Applebee’s Neighborhood Bar &Grill c/o Apple Metro of 550 Mama-roneck Ave, Ste. 204, Harrison, NY10528; currently operating approx-imately 1,600 restaurants; NYfranchise, which currently operates 29eateries in the area, plans to open sixrestaurants throughout Metro NY thisyear, including two in the Bronx;seeking 5,000 sq. ft. in freestandinglocations, end-caps (in smaller mar-kets), and enclosed malls. Zane Tankel,Chief Executive, (914)-777-2331, Fax(914)-777-2615.Chick-fil-A, Inc of 5200 BuffingtonRd, Atlanta, GA 30349-2998; currentlyoperating 1,400 restaurants in 37 statesand DC; a new 4,596 sq. ft. stand-alone store has opened in San AntonioTX; this year, company has opened 31new locations and plans to open a totalof 80 stores by the end of ‘09; seekingstand-alone sites, mall stores, andlicensed outlets. Erwin C Reid, VPReal Estate, (404) 765-8172, Fax (404)765-8941. Email: [email protected] Chalet and Harvey's div. ofCara Operations Ltd of 6303 AirportRd, Mississauga, ON L4V 1R8;currently operating 200 Swiss Chaletlocations and 358 Harvey’s locationsCanada-wide; company would like togrow its Swiss Chalet division tobetween 350 and 400 stores in the nextfive years, including 25 locations inMB and SK, 25 to 30 locations in AB,and 14 to 15 locations in AtlanticCanada; seeking 4,500 sq. ft. to 6,200sq. ft. in enclosed malls; Canada-wide.Mark Eaton, Director of Real Estate,(905) 760-2244, Fax (905) 405-6667,www.swisschalet.ca.Nestle Toll-House Cafe div. of CrestFoods Inc of 101 W Renner Rd, Ste.240, Richardson, TX 75082; companyplans rapid expansion into Canada with25 to 35 cafe openings over the next 10years; seeking 250 sq. ft. to 400 sq. ft.for kiosks, 500 sq. ft. to 800 sq. ft. forinline cafes, and 800 sq. ft. to 1,250 sq.ft. for larger stores in the main mallaway, from food courts. ScottMcIntosh, VP Franchise Development,

(214) 281-8069, Email: [email protected].

HOME FURNISHINGSI.O. Metro of PO Box 3417, Benton-ville, AR 72712; currently operating15 stores throughout AL, AR, KS, MS,MO, OK, TN and TX; locations selleclectic import furniture and acces-sories and customers buy there itemsdirectly off the showroom floor; planto open five new stores in each ‘10 and‘11 and up to seven new stores in ‘12and ‘13; seeking 9,500 sq. ft. inenclosed malls, power centers, andfreestanding buildings. Real EstateDirector, (479) 271-7507, Fax (479)254-6759, www.io-metro.com.Leon’s Furniture of 45 GordonMackay Rd, PO Box 1100, Station B,Weston, ON M9L 2R8; currentlyoperating 64 stores, many of whichhave attached warehouses; companyis expanding and hopes to build orlease existing vacant space for up to10 to 15 new stores; seeking 50,000sq. ft. to 65,000 sq. ft. in power centersor strip malls Canada-wide. RodFortune, National Real Estate Mana-ger, (416) 243-7880, Fax (416) 243-7890, www.leons.ca.

SHOE STORESDSW Shoe Warehouse of 810 DSWDrive, Columbus, OH 43219; currentlyoperating 299 units in 39 states;company recently opened two new15,000 sq. ft. stores in Little Rock, ARand Chattanooga, TN; seeking 19,500sq. ft. to 25,400 sq. ft. in freestandinglocations, malls, and power centersnationwide. Stephen Ramey, SrDirector of Real Estate, (614) 872-1629, Fax (614) 872-1799, [email protected].

SPECIALTYBears & Wishes of Alberta, Canada;company already has stores in Edmon-ton and St. Albert, AB, and its firstfranchise store has opened in Red Deer,AB; retail store and gift deliveryservice sells stuffed animals andballoons plan to open 3 to 6 stores in‘10 and another 5 to 10 stores in ‘11;within the next five years, companywould like to have presence in everyCanadian province and enter the U.S.market. seeking 800 sq. ft. to 1,400 sq.ft. in enclosed malls or power centresprimarily in AB, then Canada-wide;


Sandy Holowach, Founder, (780) 423-2327, www.bearwishes.com.Henri Bendel div. of Limited Brandsof Three Limited Park way, Columbus,OH 43230; currently operating eightstores; about a year after its debut inSan Diego’s Fashion Valley shoppingcenter, company is launching itsaccessories, beauty and gift conceptthis fall at Los Angeles’ Beverly CenterMall and South Coast Plaza in CostaMesa, CA; next locations to open inDallas’ North Park Center in Sep-tember, followed by locations at TheMall at Short Hills in Short Hill, NJ,and at King of Prussia Mall in King ofPrussia, PA; seeking 1,500 sq. ft. to2,000 sq. ft. in malls. Jamie Bersani,EVP, Retail Real Estate, (614) 479-7456, Fax (614) 479-7450, Email:[email protected].

SPORTING GOODS

Dick’s Sporting Goods and GolfGalaxy of 300 Industrial Dr, RIDCPark West, Pittsburgh, PA 15275;currently operating 409 Dick’s and89 Golf Galaxy locations in 36 states,primarily in the eastern half of theU.S.; company is increasing thenumber of new store openings itoriginally planned this year from 20 to25 locations; next year, the companywill open another 24 stores, as well as5 of its Golf Galaxy units; long-term,company would like to operate 800Dick’s locations nationwide; seeking50,000 sq. ft. one-story stores and80,000 sq. ft. two-story stores. GarrickHagins, Director-Real Estate, (724)273-3514, Email: [email protected].

SUPERMARKETSFood Lion, Kash n’ Karry andHannaford Bros div. of DelhaizeAmerica, Inc of PO Box 1330,Harrison Rd, Salisbury, NC 28145-1330; currently operating more than1,400 stores, including 13 in the new“Sabor Latino” format geared towardHispanic customers with a much widerarray of Latin food items; companyplans to convert 12 more Food Lionstores in NC to the new format, and asmany as 59 stores in NC to that formatthis year; Shawn Beichler, VP of RealEstate, (704) 633-8250, Ext. 44, Fax(704) 639-1353, Email: [email protected].

A niche in the food store cat-egory, salvage grocers whosediscount merchandise consists ofdented cans, crushed cerealboxes, and products offered af-ter their “sell-date” are expand-ing and being a more visible ten-ant in low-end shopping centersand massive, formerly vacant,warehouses and big-box stores.

Among some of these retail-ers are the Friday Store outsideof Denver; Anderson’s CountryMarket about 90 miles fromRichmond, VA; B&D SalvageGrocery some 60 miles fromBaton Rouge; and T&W SalvageGrocery, 40 miles west of At-lanta.

Though the bulk of their gro-ceries are bought at traditionalsupermarkets, most of the shop-pers fill-in these purchases with“weekly finds” at salvage storeswhere the merchandise availablecan vary day by day.

These retailers are regulatedmuch the same as traditional gro-cers, with inspectors checkingthat the outlets are clean and thatthe merchandise is not severelydented or punctured. Aside frombaby formula and over-the-counter drugs and medication,health regulators are not too con-cerned about sell-dates as longas the food has been stored prop-erly.

Salvage Grocers Filling The Gap

Fresh & Easy Neighborhood Mar-kets div. of Tesco USA of 2120 ParkPlace, #200, El Segundo, CA 90245;currently operating 121 stores through-out Southern CA; plans to open 3 storesin Oxnard, Orcutt, and Lompoc, CA;previously stated goal was to have 200stores in the U.S. by late ‘09; seeking10,000 sq. ft. throughout CA. TonyEggs, Chief Real Estate Director, (310)341-1218, Fax (310) 341-1501, Email:[email protected]

Retailers Optimistic About ‘10 BusinessMost retailers—7 out of 10—

expect business conditions toimprove next year, and 49% ex-pect recovery in the industry willprecede that of the broader USeconomy, according to a surveyby KPMG.

Mark Larson, who heads theglobal retail sector group, said thesurvey of 65 retail executives tookplace between May and July.

“The findings reflected anexpression of guarded opti-mism,” he said. “Those retailerswho have taken the opportunityto consolidate and to restructuretheir operations and risk expo-sure as well as invest for thefuture during the past year arepreparing for the new Americanmarketplace surely to emerge asthe economy rebounds.”

WAREHOUSE CLUBSBJ’s Wholesale Club, Inc of OneMercer Rd, Natick, MA 01760-2400;currently operating 177 units in 15states mainly along the East Coast;company is planning to open a fewsmaller-sized stores with a footprintof around 85,000 sq. ft. throughoutexisting New England and Mid-Atlanticmarkets. John P. Dowling, VP Real Estate,(508) 651-6063, Fax (508) 651-6070,Email: [email protected].


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