shopping center digest 2009 new york deal making issue

(continued)

TABLE OF CONTENTSNew and Expanding Shopping Centers

Over 501,000 Sq. Ft. ............................. J527Strolling the Agora ................................... J527Didja Hear??? ............................................ J527Financial/Sales Results ........................... J534New And Expanding Shopping Centers

201,000-500,000 Sq. Ft. ........................ J538New And Expanding Shopping Centers

Up to 200,000 Sq. Ft. ............................ J540Upscale, Specialty, Urban Mixed-Use .... J542Centers With Lease

Space Available .................................... J544Retailers Seeking Space .......................... J546Classifieds ................................................. J548

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. J530)

didja hear...???

©SHOPPING CENTER DIGEST, PO Box 837, Nyack, NY 10960 (845) 348-7000 J52711/23/09

RETAILERS SEEKING SPACEPage J546-547

• 77kids div. of American Eagle Outfitters• Ashley Furniture HomeStore• Best Buy Canada• Big 5 Sporting Goods• Buffalo Wild Wing Grille & Bar• Cash Converters Canada• Dick's Sporting Goods• Dollarama• Family Dollar Stores• Fantastic Sams• Fresh Market• Hennes & Mauritz (H&M)• Kal Tire• Little Ceasar's Pizza• Michaels Stores• Office Max• P.F. Changs' China Bistro and Pei Wei Asian Diner• Pizza Hut/WingStreet• Shoppers Drug Mart• Smashburger• Spring Rolls• Supervalu• Teavana• Uno Chicago Grill• Vocelli Pizza

ALABAMADecatur: Renovation plans delayedindefinitely for 576,098 sq. ft. DecaturMall (former Colonial Decatur Mall)at Danville Rd and Beltline Rds inMorgan County (See SCD, P. I862);anchors Sears, Dillard’s, Belk,JCPenney Outlet, Dillard’s Men’s/Children, and Dillard’s Home Store;60 stores, 27 vacant; parking 2,832cars; opened ‘78; population 477,011within 20 miles; average householdincome $61,294; developer First

Republic Group Realty, 302 Fifth Ave,New York, NY 10001-3696, (212)279-6100; leasing Jones Lang LaSalle(Gary Woodward), 3424 Peachtree Rd

NE, Ste. 400, Atlanta, GA 30326, (404)995-6300, Email: [email protected].

Though there are universalspresent in each ICSC regional confer-ence around the country focusing onleasing and development, there are alsodistinct differ-ences in themesand outlooks ex-pressed by thesereal estate profes-sionals. So it wasin Chicago lastmonth and—I ex-pect— it will be inNew York at the National Conferenceand Deal Making in the next few weeks;the ultimate connector being a resil-

ience and positive attitude:“We’reworking harder than ever for a lot less,but we’re still vertical and will getthrough this (the recession).”

A side issue, but strongly ex-pressed by a number of landlords andtenants was anger at ICSC for “losingtouch with the needs of its members”and “operating as a business rather than atrade association.” More on this later.

Even before the beginning of brisk,official dealmaking, many were al-ready expressing optimism on the ris-ing economy, basing much of it onrising retail figures just released by anumber of leading chains. However,these should be taken with a touch ofreality, stressed one top departmentstore executive.

“In retailing,” he pointed out,“we’re zooming down the highway at100 miles per hour looking backwardthrough our rearview mirror and com-peting against last year’s figures. It’sgreat if our same store sales are up 3 or4%—but last year they were down 15,16 or 17%. You must consider what

CNL Macquarie Global Growthexpects to raise $1.5 billion in an IPOto acquire distressed properties overthe next 5-10 years; at least 70% of thefunds will be used in the US, espe-

cially in the southern tier…GenescoInc announced that its Hat Worlddivision, which operates more than850 mall-based, airport, street level,and factory outlet stores nationwideand in Canada and PR has acquired theassets of the 37 unit, Tampa, FL-basedSports Fan-Attic; the retailer of li-censed sports headwear, apparel, ac-cessories, and novelties had revenuesof $30 million for the 12 months endedSept 30, ‘09…David B. Henry wasappointed to CEO of Kimco RealtyCorp, replacing Milton Cooper, whowill continue as executive chairman of

Vol. 38, Nos. 22 & 23

Published Twice Each Month

November 23, 2009

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

$349 per year

"TheLocations

Newsletter"

ICSC NEW YORK DEAL MAKINGBox 837

Nyack, NY10960

Strolling the AGORA(continued)we’re competing against.”

Said another retailer: “In that con-text, we’re still behind where we weretwo years ago.”

More Time For RecoveryThough some of the national sales

figures being released indicate the re-cession is over, industry observerscontend that it hasn’t convinced theaverage consumers who are still beingvery cautious on spending for non-essential goods. “Unemployment isstill rising around the country and theaverage shoppers are still fearful oflosing their jobs,” said another chainVP. “It’s going to take a lot more timefor a full recovery.”

For landlords with troubled prop-erties difficult to rent, it may be worth-while to “give the space away,” saidone strip operator. “We’ve made dealswith free rent for some Mom and Pops,with the tenant paying only operatingcosts for a couple of months,” he said.“It keeps the center active, stops thedomino effect of other stores leaving.But,” he stressed, “the jury is still outas to whether it is effective. It dependson whether he can start paying the rentafter the free period expires.”

One retail consultant was exuber-ant about the number of deals he hadmade recently. “Last year was awfuland I really thought we could go belly-up. I was forced to lay off some people;then we increased our marketing,worked harder and longer than I everhave before, and it’s beginning to payoff. It’s re-vitalized me and our entireoperation.”

Another agreed, and pointed outthat with computers and the internet,“it’s a lot easier to operate and con-nect. It doesn’t completely replaceface-to-face, but it does enable us tocut travel expenses and still negotiatewith major landlords, get answers, andsatisfy the needs of our retail clients.”

One broker pointed out that sheand others “were re-tooling their busi-ness plan and dumping the unproduc-tive stuff.”

“Part of the problem of poor retaillocations that exist today,” said oneveteran dealmaker, “is that many na-tional chains had all these real estate

people at the home office signing storeleases who never even looked at thesite. There are too many coffee orpizza shops on the wrong side of thestreet, or restaurants in odd-shapedparcels with inadequate parking thatare difficult or unable to provide fordrive-up windows.”

Wandering In The Exhibit AreaWandering through the exhibit

area, I see it’s crowded with rushing,intense dealmakers networking orheading for appointments, and wasstruck by several rented but unoccu-pied booths. On the upper level, wherehistorically six much larger deal-mak-ing rooms were occupied previouslyby some heavy-hitters, only three wereoccupied: CBL, Developers Diversi-fied, Jones Lang LaSalle. And theselandlords brought a substantially fewernumber of leasing professionals thanlast year, 6 compared with 13 in 2008,said one owner-developer.

Another aspect setting this Mid-west meeting apart from other recentICSC regional meetings was the heavyconcentration of booths operated bysmall cities, villages and counties thatwere actively seeking retail tenants tohelp revitalize downtown business dis-tricts. Represented by local economicdevelopment officials, they high-lighted the marketing potential of thesecommunities, and stressed how publicmoneys, stimulus funds and specialtax incentives were earmarked to re-store once vital centers that had beendeteriorating for years; they pointedto improved lighting, roads, signage,public utilities, transportation, park-ing, and the like.

“If,” said one planning director,“we can attract a few solid retailers, itwould add substantially to our tax baseand help us to stop a slide caused bysuch factors as the admitted local ne-glect, poor management of past ad-ministrations, and the national eco-nomic crisis.”

Second Day A DisasterThough the level of dealmaking

opening day in Chicago was impres-sive and ongoing until the receptionthat evening, the second day was adisaster. A substantial number of

dealmaking booths were left unmannedthat morning as many budget-con-scious real estate professionals flew ordrove home the night before to avoidthe extra cost of high hotel rates; manyof these neglected booths did not haveeven token amounts of company lit-erature. Company representatives whowere at their booths outnumbered thosedealmakers wandering around still try-ing to connect.

One retail consultant from Atlantawho operates only in the Southeastsaid he was in Chicago due to a newclient of his interested also in expand-ing into the Midwest market. “I canconnect him to a few good sources andcontacts and be a hero.”

A number of tenants, landlords,and brokers were outspoken in criti-cizing ICSC for maintaining highprices and “gouging” its members.

“In these hard times, ICSC shouldlower its ridiculously high registra-tion fees to only cover the costs,” saidone retailer. “They have $90 millionsitting in a slush fund for a rainy day.Don’t they know it’s raining outthere?”

Another said he hadn’t registeredbecause of budgetary cutbacks forcedby national headquarters, and visitedthe landlords upstairs—where a badgewas not required for admission—anddid meet with a few others in the lobbyto look at leasing plans and talk deals.“In New York [the upcoming confer-ence Dec 7-9] a major landlord toldme to call them when I’m at the hoteland they’ll send someone out with abadge to bring me in.”

Arbitrary DecisionsIt was understood, one dealmaker

confided, that several major owner-developers have already cancelledplans for exhibit space “at the Hiltonand Sheraton hotels, and others maybe wavering.”

One landlord accused the tradeassociation of arbitrarily making deci-sions on schedule changes withoutconsulting its membership. “In LasVegas next year,” he said, “they’vealready changed the convention datesso we have to come in on the weekend.

(continued)

Strolling the AGORA(continued)we’re competing against.”

Said another retailer: “In that con-text, we’re still behind where we weretwo years ago.”

More Time For RecoveryThough some of the national sales

figures being released indicate the re-cession is over, industry observerscontend that it hasn’t convinced theaverage consumers who are still beingvery cautious on spending for non-essential goods. “Unemployment isstill rising around the country and theaverage shoppers are still fearful oflosing their jobs,” said another chainVP. “It’s going to take a lot more timefor a full recovery.”

For landlords with troubled prop-erties difficult to rent, it may be worth-while to “give the space away,” saidone strip operator. “We’ve made dealswith free rent for some Mom and Pops,with the tenant paying only operatingcosts for a couple of months,” he said.“It keeps the center active, stops thedomino effect of other stores leaving.But,” he stressed, “the jury is still outas to whether it is effective. It dependson whether he can start paying the rentafter the free period expires.”

One retail consultant was exuber-ant about the number of deals he hadmade recently. “Last year was awfuland I really thought we could go belly-up. I was forced to lay off some people;then we increased our marketing,worked harder and longer than I everhave before, and it’s beginning to payoff. It’s re-vitalized me and our entireoperation.”

Another agreed, and pointed outthat with computers and the internet,“it’s a lot easier to operate and con-nect. It doesn’t completely replaceface-to-face, but it does enable us tocut travel expenses and still negotiatewith major landlords, get answers, andsatisfy the needs of our retail clients.”

One broker pointed out that sheand others “were re-tooling their busi-ness plan and dumping the unproduc-tive stuff.”

“Part of the problem of poor retaillocations that exist today,” said oneveteran dealmaker, “is that many na-tional chains had all these real estate

people at the home office signing storeleases who never even looked at thesite. There are too many coffee orpizza shops on the wrong side of thestreet, or restaurants in odd-shapedparcels with inadequate parking thatare difficult or unable to provide fordrive-up windows.”

Wandering In The Exhibit AreaWandering through the exhibit

area, I see it’s crowded with rushing,intense dealmakers networking orheading for appointments, and wasstruck by several rented but unoccu-pied booths. On the upper level, wherehistorically six much larger deal-mak-ing rooms were occupied previouslyby some heavy-hitters, only three wereoccupied: CBL, Developers Diversi-fied, Jones Lang LaSalle. And theselandlords brought a substantially fewernumber of leasing professionals thanlast year, 6 compared with 13 in 2008,said one owner-developer.

Another aspect setting this Mid-west meeting apart from other recentICSC regional meetings was the heavyconcentration of booths operated bysmall cities, villages and counties thatwere actively seeking retail tenants tohelp revitalize downtown business dis-tricts. Represented by local economicdevelopment officials, they high-lighted the marketing potential of thesecommunities, and stressed how publicmoneys, stimulus funds and specialtax incentives were earmarked to re-store once vital centers that had beendeteriorating for years; they pointedto improved lighting, roads, signage,public utilities, transportation, park-ing, and the like.

“If,” said one planning director,“we can attract a few solid retailers, itwould add substantially to our tax baseand help us to stop a slide caused bysuch factors as the admitted local ne-glect, poor management of past ad-ministrations, and the national eco-nomic crisis.”

Second Day A DisasterThough the level of dealmaking

opening day in Chicago was impres-sive and ongoing until the receptionthat evening, the second day was adisaster. A substantial number of

dealmaking booths were left unmannedthat morning as many budget-con-scious real estate professionals flew ordrove home the night before to avoidthe extra cost of high hotel rates; manyof these neglected booths did not haveeven token amounts of company lit-erature. Company representatives whowere at their booths outnumbered thosedealmakers wandering around still try-ing to connect.

One retail consultant from Atlantawho operates only in the Southeastsaid he was in Chicago due to a newclient of his interested also in expand-ing into the Midwest market. “I canconnect him to a few good sources andcontacts and be a hero.”

A number of tenants, landlords,and brokers were outspoken in criti-cizing ICSC for maintaining highprices and “gouging” its members.

“In these hard times, ICSC shouldlower its ridiculously high registra-tion fees to only cover the costs,” saidone retailer. “They have $90 millionsitting in a slush fund for a rainy day.Don’t they know it’s raining outthere?”

Another said he hadn’t registeredbecause of budgetary cutbacks forcedby national headquarters, and visitedthe landlords upstairs—where a badgewas not required for admission—anddid meet with a few others in the lobbyto look at leasing plans and talk deals.“In New York [the upcoming confer-ence Dec 7-9] a major landlord toldme to call them when I’m at the hoteland they’ll send someone out with abadge to bring me in.”

Arbitrary DecisionsIt was understood, one dealmaker

confided, that several major owner-developers have already cancelledplans for exhibit space “at the Hiltonand Sheraton hotels, and others maybe wavering.”

One landlord accused the tradeassociation of arbitrarily making deci-sions on schedule changes withoutconsulting its membership. “In LasVegas next year,” he said, “they’vealready changed the convention datesso we have to come in on the weekend.

(continued)

J530 ©SHOPPING CENTER DIGEST, PO Box 837, Nyack, NY 10960 (845) 348-700011/23/09

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.

Tel: (845) 348-7000

"The Locations Newsletter"

the board of directors; Henry had beenwith the company since ’01 and wasappointed president in ‘08…JonesLang LaSalle has announced a newmanagement team for The Palms atTown & Country shopping center inMiami, FL: Joy Medlock is the newgeneral manager and Annette Alvarez,has been named operations manager…Landry's Restaurants has agreed tobe merged into a company owned byits founder, chairman and CEO, Timo-thy Fertitta, for $1.2 billion; he willtake the chain private...Laura Skiverhas been hired as the new businessdevelopment manager for DevelopersDiversified Realty Corp (DDR); priorto joining DDR, Skiver was with SmithRothschild Financial in Chicago,IL…Days after its sister brand, Max& Erma’s filed for Chapter 11 bank-ruptcy, the 50-unit Damon’s Grillbarbeque chain did the same…Austin,TX-based Stream Realty Partners hasentered the shopping center industrywith the acquisition of 10 retail cen-ters in Austin and San Antonio and hashired Bryan Dabbs as director of re-tail; he had been with Endeavor RealEstate Group...Cedar Shopping Cen-ters and Canadian owner-developerRioCan Real Estate InvestmentTrust have entered into an agreementto acquire up to $500 million in prima-rily supermarket-anchored shoppingcenters in the Mid-Atlantic region overthe next two years...Dallas, TX-basedMohr Partners has hired JamesWassel as managing director to bebased in NJ and NY; previously,Wassel was with Cushman & Wake-field...Horsham, PA-based Capmark,one of the largest commercial-real-estate lenders to the nation's investorsand developers of office towers, stripmalls, hotels and other commercialproperties has filed for bankruptcyprotection in DE. The company, whichwas formerly the commercial lendingunit of GMAC LLC and has origi-nated more than $10 billion in com-mercial real estate loans, recently re-ported a $1.6 billion second-quarter

loss...Colin Yasukochi has beennamed director of research for JonesLang LaSalle's Northern CA and Pa-cific Northwest regions...In time forthe holidays, Toys R Us has opened585 FAO Schwarz boutiques withinits own stores with the FAO Schwarzname; the boutiques will feature over-head signage and toys will range from$2.99 to $64.99...Steak n Shake Coand Western Sizzlin Corp have signedan agreement to merge; the plans,which are still awaiting final share-holder approval, would mean the 468-unit Steak n Shake family dining chainwould become a subsidiary to the 105-unit Western Sizzlin steak buffetchain...Walt Disney Co plans to ex-pand and rebrand its existing 340 storesto include movie theaters and interac-tive components, and will call its con-cept Imagination Park...Culver City,CA-based The Counter, burger chainwith 20 stores in the U.S., Ireland, andAustralia, is expecting to expandthrough franchising and has namedPeter Wright to the newly createdpost of VP-franchise sales; he wasformerly with Panera Bread . . .RREEF Real Estate says it has com-pleted its program of getting out ofproperty management and has out-sourced its 58 shopping centers total-ing 11 million sq. ft. to Jones LangLasalle, United Commercial Realty,Mid-America Asset Management,Crosland, and KeyPoint Partners...According to Reis Inc, a New Yorkreal-estate research firm, 10.3% of theretail space at U.S. shopping centers -- open-air centers typically anchoredby a grocery store or big-box retailer -- was vacant in the third quarter; fur-thermore, of the properties which werecompleted this year, 30% opened half-empty or worse...Management forSafeway, which operates about 1,730grocery stores nationwide, are consid-ering stepping up its development ofshopping centers and owning more ofits stores, of which it only owns about40% of its existing locations; in fact,

Don’t they know that’s when hotel andtravel costs are at the highest, and howshort of cash many companies are?”

One VP of real estate and con-struction with a national chain told mehe normally did not attend these re-gional meetings but sent area leasingreps. “I’m here only because of a retailcommittee meeting, but ICSC seemsto have lost touch with reality and isfunctioning with no regard to the needsor wants of its members,” he said.

Overall, registrants felt attendanceand the number of exhibitors weredown from that experienced over pre-vious years. But the overall sentimentwas still a strong, positive outlookthroughout the conference.

Especially for the seasoned bro-kers and consultants, who have beenthrough past market downturns andare using the lessons learned from theirpast experiences to help weather thecurrent storms and control the existingcrisis. “Look,” said one, “I’ve cut backbefore and operated out of my homewhen necessary. I did it before, I can

do it again. We’re survivors. It’s theyounger people who have never faced

such rough times before who are themost terrified.”

(continued)

didja hear...???(continued from P. J527)

(continued)

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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.

Tel: (845) 348-7000

"The Locations Newsletter"

the board of directors; Henry had beenwith the company since ’01 and wasappointed president in ‘08…JonesLang LaSalle has announced a newmanagement team for The Palms atTown & Country shopping center inMiami, FL: Joy Medlock is the newgeneral manager and Annette Alvarez,has been named operations manager…Landry's Restaurants has agreed tobe merged into a company owned byits founder, chairman and CEO, Timo-thy Fertitta, for $1.2 billion; he willtake the chain private...Laura Skiverhas been hired as the new businessdevelopment manager for DevelopersDiversified Realty Corp (DDR); priorto joining DDR, Skiver was with SmithRothschild Financial in Chicago,IL…Days after its sister brand, Max& Erma’s filed for Chapter 11 bank-ruptcy, the 50-unit Damon’s Grillbarbeque chain did the same…Austin,TX-based Stream Realty Partners hasentered the shopping center industrywith the acquisition of 10 retail cen-ters in Austin and San Antonio and hashired Bryan Dabbs as director of re-tail; he had been with Endeavor RealEstate Group...Cedar Shopping Cen-ters and Canadian owner-developerRioCan Real Estate InvestmentTrust have entered into an agreementto acquire up to $500 million in prima-rily supermarket-anchored shoppingcenters in the Mid-Atlantic region overthe next two years...Dallas, TX-basedMohr Partners has hired JamesWassel as managing director to bebased in NJ and NY; previously,Wassel was with Cushman & Wake-field...Horsham, PA-based Capmark,one of the largest commercial-real-estate lenders to the nation's investorsand developers of office towers, stripmalls, hotels and other commercialproperties has filed for bankruptcyprotection in DE. The company, whichwas formerly the commercial lendingunit of GMAC LLC and has origi-nated more than $10 billion in com-mercial real estate loans, recently re-ported a $1.6 billion second-quarter

loss...Colin Yasukochi has beennamed director of research for JonesLang LaSalle's Northern CA and Pa-cific Northwest regions...In time forthe holidays, Toys R Us has opened585 FAO Schwarz boutiques withinits own stores with the FAO Schwarzname; the boutiques will feature over-head signage and toys will range from$2.99 to $64.99...Steak n Shake Coand Western Sizzlin Corp have signedan agreement to merge; the plans,which are still awaiting final share-holder approval, would mean the 468-unit Steak n Shake family dining chainwould become a subsidiary to the 105-unit Western Sizzlin steak buffetchain...Walt Disney Co plans to ex-pand and rebrand its existing 340 storesto include movie theaters and interac-tive components, and will call its con-cept Imagination Park...Culver City,CA-based The Counter, burger chainwith 20 stores in the U.S., Ireland, andAustralia, is expecting to expandthrough franchising and has namedPeter Wright to the newly createdpost of VP-franchise sales; he wasformerly with Panera Bread . . .RREEF Real Estate says it has com-pleted its program of getting out ofproperty management and has out-sourced its 58 shopping centers total-ing 11 million sq. ft. to Jones LangLasalle, United Commercial Realty,Mid-America Asset Management,Crosland, and KeyPoint Partners...According to Reis Inc, a New Yorkreal-estate research firm, 10.3% of theretail space at U.S. shopping centers -- open-air centers typically anchoredby a grocery store or big-box retailer -- was vacant in the third quarter; fur-thermore, of the properties which werecompleted this year, 30% opened half-empty or worse...Management forSafeway, which operates about 1,730grocery stores nationwide, are consid-ering stepping up its development ofshopping centers and owning more ofits stores, of which it only owns about40% of its existing locations; in fact,

Don’t they know that’s when hotel andtravel costs are at the highest, and howshort of cash many companies are?”

One VP of real estate and con-struction with a national chain told mehe normally did not attend these re-gional meetings but sent area leasingreps. “I’m here only because of a retailcommittee meeting, but ICSC seemsto have lost touch with reality and isfunctioning with no regard to the needsor wants of its members,” he said.

Overall, registrants felt attendanceand the number of exhibitors weredown from that experienced over pre-vious years. But the overall sentimentwas still a strong, positive outlookthroughout the conference.

Especially for the seasoned bro-kers and consultants, who have beenthrough past market downturns andare using the lessons learned from theirpast experiences to help weather thecurrent storms and control the existingcrisis. “Look,” said one, “I’ve cut backbefore and operated out of my homewhen necessary. I did it before, I can

do it again. We’re survivors. It’s theyounger people who have never faced

such rough times before who are themost terrified.”

(continued)

didja hear...???(continued from P. J527)

(continued)

didja hear...???the chain does have its own separateproperty management arm for poten-tial tenants of properties it alreadyowns, called Property DevelopmentAssociates LLC and is marketing ahandful of Safeway and Vons stores,as well as shopping centers forlease...Boston, MA-based Advent In-ternational Corp has purchased teenapparel retailer Charlotte Russe Hold-ing Inc for $380 million and has ap-pointed Jenny Ming as president and

CEO to help double the 501-unit storecount, boost sales productivity andreevaluate the demograpic focus ofthe retailer who currently targetswomen from 15 to 20 years ofage...Microsoft Corp is opening itsfirst retail store at the Scottsdale Fash-ion Square Mall in Scottsdale, AZ,followed by a second store in MissionViejo, CA; if successful, the companyplans to slowly roll out more locationsnationwide.

ARIZONAGoodyear: Developer may delayplanned spring ‘10 ground breaking ofEstrella Falls Mall at NE of PebbleCreek Pkwy and McDowell Rd, behindWestcor’s Market at Estella Fallspower center (See SCD, P. J491);anchors Macy’s, Dillard’s, and HarkinsTheaters; other tenants will includeChico’s, Coach, White House | BlackMarket, and Industrial Ride Shop;opening fall ‘11; developer Westcor(Garrett Newland), 11411 N TatumBlvd, Phoenix, AZ 85028, (602) 953-6582, Email: garrett [email protected].

CALIFORNIALa Habra: Existing Wal-Mart to beremodeled at 650,000 sq. ft. La HabraWestridge Village at Beach Blvd andImperial Hwy; in Orange County;anchors Sam’s Club, Kohl’s, Wal-Mart, and Lowes; 20 stores; parking2,563 cars; opened ‘02; population161,283 within three miles; averagehousehold income $75,937; developerICI Development Company (TamraGreenlee), 2222 E Seventeenth St,Santa Ana, CA 92705, (714) 541-1200, Email: [email protected]: City approves plans andconstruction could begin sometime in‘11 on 643,000 sq. ft. The PerrisVenue on 68 acres at San Jacinto andRedlands Ave (See SCD, P. J515);anchor is Target; center to also includeclothing stores, pet and office supplystores, and a movie theater; developerLewis Retail Centers, 1156 N Moun-tain Ave, PO Box 670, Upland, CA91786-3633, (909) 985-0971, www.lewisop.com.Salinas: A 102,000 sq. ft. Wal-Mart toreplace the former Home Depot at700,000 sq. ft. Harden Ranch Plaza atN Main St and San Juan Grade Rd inMonterey County (See SCD, P. D939);anchors Marshalls, Walgreens, Safe-way, Office Depot, Pier 1 Imports, andTarget; 65 stores; parking 3,500 cars;opened ‘91; population 200,000 within10 miles; average household income$34,000; developer Harden RanchPlaza Mgmt (Fred E. Goldsmith), c/oHarden Ranch Plaza, 1560 N. MainSt., Salinas, CA 93906, (831) 655-3800, Email: [email protected].

Walnut Creek: An initiative with10,295 signatures would 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. J472);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.

FLORIDANorth Port: Although no constructiondate has been set, city planning andzoning panel have approved a proposed986,000 sq. ft. Woodlands RegionalCenter at SE corner of I-75 and ToledoBlade Blvd (See SCD, P. J472);developer Benderson Development(William Murray), 8441 Cooper CreekBlvd, Bradenton, FL 34201, (716) 886-0211, www.benderson.com.Sarasota: Developers have agreed topay up to $3 million for traffic work ifcity approves a proposed expansion to420,000 sq. ft. Westfield Shopping-town Southgate (formerly SouthgatePlaza) on 33 acres at U.S. 41, SiestaDr, and Bee Ridge in Sarasota County(See SCD, P. J149); project to includethe construction of several morebuildings, bringing it to about 665,000sq. ft.; in addition, a three-story parkinggarage with 1,200 spaces will be built;plans also call for adding a secondfloor to the existing Dillard's; anchorsalso include Macys and Saks Fifth Ave;49 stores; parking 1,934 cars; opened

‘57; population 532,717 within 15miles; average household income$76,865; developer Westfield Corp,11601 Wilshire Blvd, 11th Fl, LosAngeles, CA 90025-1748, (310) 478-4456, www.westfield.com.

ILLINOIS

Matteson: A new community centeris planned for 990,000 sq. ft. LincolnMall on 75 acres at U.S. 30 and Ciceroin Cook County (See SCD, P. J364);addition is part of and area re-development and improved marketingfor the city's downtown district, whichwill include an expanded trail system,improvements to the Pecatonica Riverriverfront, and support for efforts toprovide Amtrak service to Freeport;anchors Carson Pirie Scott and Sears;97 stores; parking 5,412 cars; opened‘73; population 157,803 within fivemiles; average household income$61,776; developer Realty AmericaGroup c/o Freehold Capital Advisors,Ltd (Tracy Munno), Lincoln Mall, 208Lincoln Mall, Matteson, IL 60443,(708) 747-5600, Email: [email protected]; leasing TheAndrew Shedlin co (Andrew Shedlin),1014 Sheridan Rd, Highland Park, IL60035, (847) 433-3400, Email:[email protected].

MICHIGAN

Flint Twp: University of Phoenix hasrecently opened an 18,000 sq. ft.student learning facility in the "Out-door Village" at 1.27 million sq. ft.Genesee Valley Center at Miller andLinden Rds in Genesee County (SeeSCD, P. I70); in addition, name-brand

(continued from P. J527)

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

Loni L. Shepherd

Real Estate Manager, East

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

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

YYYYYes I want to make deals in 2009, and your 15th edition of Shopping Center Digest's "Expanding Retailers" will give me thees I want to make deals in 2009, and your 15th edition of Shopping Center Digest's "Expanding Retailers" will give me thees I want to make deals in 2009, and your 15th edition of Shopping Center Digest's "Expanding Retailers" will give me thees I want to make deals in 2009, and your 15th edition of Shopping Center Digest's "Expanding Retailers" will give me thees I want to make deals in 2009, and your 15th edition of Shopping Center Digest's "Expanding Retailers" will give me the

information I need to contact the people most likely to be "open to buy." information I need to contact the people most likely to be "open to buy." information I need to contact the people most likely to be "open to buy." information I need to contact the people most likely to be "open to buy." information I need to contact the people most likely to be "open to buy."

Mail or Fax to: JOMURPA Publishing Inc., PO Box 837, 20 N. Broadway, Nyack, NY 10960 800-211-6858 FAX 845-348-7011

Name _________________________________________________

Company ______________________________________________

Street _________________________________________________

City ___________________ State ___________ Zip ___________

Telephone ( ) _______________ Fax ( ) ______________

E-Mail ______________________________________________

Type of Company _______________________________________

Signature _______________________________________________

Enclosed is my check payable to Jomurpa Publishing Inc in the amountof $149. (New York State Addresses please add appropriate sales tax).Shipping & handling are included due to pre-payment.

I prefer using my credit card:

Account # Exp.

I would rather pay via C.O.D. for the 15th edition of Shopping CenterDigest's "Expanding Retailers." I understand that I will pay an additional$10.00 for this service, total $159.

Type of Owner-Developer Retailer Financial Institution Broker OtherCompany

MONEY-BACK GUARANTEE

Edition

ORDER TODAY!ORDER TODAY!ORDER TODAY!ORDER TODAY!ORDER TODAY!

The 2009, 15th edition of ExpandingRetailers contains all the informationyou need to make contacts and closedeals. FILL THOSE VACANT STORES!

• Profiles the leading andexpanding chains reported on theprevious year

• Contains Contact Names,Addresses, Telephone Numbers,Fax Numbers, and Email Addresses

• With two indexes to make contacteasier -- Alphabetically by storename and by retail category

• Lists the number of new storessought, their space requirements,the type of centers, andgeographic areas for expansion

• The prime source of informationfor owner-developers, leasingagents, managers, brokers --DEALMAKERS!!!

SAVE 30% WITH

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Visit us at Booth # 434 @ ICSC DealMaking in New York, NY, Dec. 7-9. .

(continued)

didja hear...???the chain does have its own separateproperty management arm for poten-tial tenants of properties it alreadyowns, called Property DevelopmentAssociates LLC and is marketing ahandful of Safeway and Vons stores,as well as shopping centers forlease...Boston, MA-based Advent In-ternational Corp has purchased teenapparel retailer Charlotte Russe Hold-ing Inc for $380 million and has ap-pointed Jenny Ming as president and

CEO to help double the 501-unit storecount, boost sales productivity andreevaluate the demograpic focus ofthe retailer who currently targetswomen from 15 to 20 years ofage...Microsoft Corp is opening itsfirst retail store at the Scottsdale Fash-ion Square Mall in Scottsdale, AZ,followed by a second store in MissionViejo, CA; if successful, the companyplans to slowly roll out more locationsnationwide.

ARIZONAGoodyear: Developer may delayplanned spring ‘10 ground breaking ofEstrella Falls Mall at NE of PebbleCreek Pkwy and McDowell Rd, behindWestcor’s Market at Estella Fallspower center (See SCD, P. J491);anchors Macy’s, Dillard’s, and HarkinsTheaters; other tenants will includeChico’s, Coach, White House | BlackMarket, and Industrial Ride Shop;opening fall ‘11; developer Westcor(Garrett Newland), 11411 N TatumBlvd, Phoenix, AZ 85028, (602) 953-6582, Email: garrett [email protected].

CALIFORNIALa Habra: Existing Wal-Mart to beremodeled at 650,000 sq. ft. La HabraWestridge Village at Beach Blvd andImperial Hwy; in Orange County;anchors Sam’s Club, Kohl’s, Wal-Mart, and Lowes; 20 stores; parking2,563 cars; opened ‘02; population161,283 within three miles; averagehousehold income $75,937; developerICI Development Company (TamraGreenlee), 2222 E Seventeenth St,Santa Ana, CA 92705, (714) 541-1200, Email: [email protected]: City approves plans andconstruction could begin sometime in‘11 on 643,000 sq. ft. The PerrisVenue on 68 acres at San Jacinto andRedlands Ave (See SCD, P. J515);anchor is Target; center to also includeclothing stores, pet and office supplystores, and a movie theater; developerLewis Retail Centers, 1156 N Moun-tain Ave, PO Box 670, Upland, CA91786-3633, (909) 985-0971, www.lewisop.com.Salinas: A 102,000 sq. ft. Wal-Mart toreplace the former Home Depot at700,000 sq. ft. Harden Ranch Plaza atN Main St and San Juan Grade Rd inMonterey County (See SCD, P. D939);anchors Marshalls, Walgreens, Safe-way, Office Depot, Pier 1 Imports, andTarget; 65 stores; parking 3,500 cars;opened ‘91; population 200,000 within10 miles; average household income$34,000; developer Harden RanchPlaza Mgmt (Fred E. Goldsmith), c/oHarden Ranch Plaza, 1560 N. MainSt., Salinas, CA 93906, (831) 655-3800, Email: [email protected].

Walnut Creek: An initiative with10,295 signatures would 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. J472);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.

FLORIDANorth Port: Although no constructiondate has been set, city planning andzoning panel have approved a proposed986,000 sq. ft. Woodlands RegionalCenter at SE corner of I-75 and ToledoBlade Blvd (See SCD, P. J472);developer Benderson Development(William Murray), 8441 Cooper CreekBlvd, Bradenton, FL 34201, (716) 886-0211, www.benderson.com.Sarasota: Developers have agreed topay up to $3 million for traffic work ifcity approves a proposed expansion to420,000 sq. ft. Westfield Shopping-town Southgate (formerly SouthgatePlaza) on 33 acres at U.S. 41, SiestaDr, and Bee Ridge in Sarasota County(See SCD, P. J149); project to includethe construction of several morebuildings, bringing it to about 665,000sq. ft.; in addition, a three-story parkinggarage with 1,200 spaces will be built;plans also call for adding a secondfloor to the existing Dillard's; anchorsalso include Macys and Saks Fifth Ave;49 stores; parking 1,934 cars; opened

‘57; population 532,717 within 15miles; average household income$76,865; developer Westfield Corp,11601 Wilshire Blvd, 11th Fl, LosAngeles, CA 90025-1748, (310) 478-4456, www.westfield.com.

ILLINOIS

Matteson: A new community centeris planned for 990,000 sq. ft. LincolnMall on 75 acres at U.S. 30 and Ciceroin Cook County (See SCD, P. J364);addition is part of and area re-development and improved marketingfor the city's downtown district, whichwill include an expanded trail system,improvements to the Pecatonica Riverriverfront, and support for efforts toprovide Amtrak service to Freeport;anchors Carson Pirie Scott and Sears;97 stores; parking 5,412 cars; opened‘73; population 157,803 within fivemiles; average household income$61,776; developer Realty AmericaGroup c/o Freehold Capital Advisors,Ltd (Tracy Munno), Lincoln Mall, 208Lincoln Mall, Matteson, IL 60443,(708) 747-5600, Email: [email protected]; leasing TheAndrew Shedlin co (Andrew Shedlin),1014 Sheridan Rd, Highland Park, IL60035, (847) 433-3400, Email:[email protected].

MICHIGAN

Flint Twp: University of Phoenix hasrecently opened an 18,000 sq. ft.student learning facility in the "Out-door Village" at 1.27 million sq. ft.Genesee Valley Center at Miller andLinden Rds in Genesee County (SeeSCD, P. I70); in addition, name-brand

(continued from P. J527)

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].

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

Loni L. Shepherd

Real Estate Manager, East

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

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

YYYYYes I want to make deals in 2009, and your 15th edition of Shopping Center Digest's "Expanding Retailers" will give me thees I want to make deals in 2009, and your 15th edition of Shopping Center Digest's "Expanding Retailers" will give me thees I want to make deals in 2009, and your 15th edition of Shopping Center Digest's "Expanding Retailers" will give me thees I want to make deals in 2009, and your 15th edition of Shopping Center Digest's "Expanding Retailers" will give me thees I want to make deals in 2009, and your 15th edition of Shopping Center Digest's "Expanding Retailers" will give me the

information I need to contact the people most likely to be "open to buy." information I need to contact the people most likely to be "open to buy." information I need to contact the people most likely to be "open to buy." information I need to contact the people most likely to be "open to buy." information I need to contact the people most likely to be "open to buy."

Mail or Fax to: JOMURPA Publishing Inc., PO Box 837, 20 N. Broadway, Nyack, NY 10960 800-211-6858 FAX 845-348-7011

Name _________________________________________________

Company ______________________________________________

Street _________________________________________________

City ___________________ State ___________ Zip ___________

Telephone ( ) _______________ Fax ( ) ______________

E-Mail ______________________________________________

Type of Company _______________________________________

Signature _______________________________________________

Enclosed is my check payable to Jomurpa Publishing Inc in the amountof $149. (New York State Addresses please add appropriate sales tax).Shipping & handling are included due to pre-payment.

I prefer using my credit card:

Account # Exp.

I would rather pay via C.O.D. for the 15th edition of Shopping CenterDigest's "Expanding Retailers." I understand that I will pay an additional$10.00 for this service, total $159.

Type of Owner-Developer Retailer Financial Institution Broker OtherCompany

MONEY-BACK GUARANTEE

Edition

ORDER TODAY!ORDER TODAY!ORDER TODAY!ORDER TODAY!ORDER TODAY!

The 2009, 15th edition of ExpandingRetailers contains all the informationyou need to make contacts and closedeals. FILL THOSE VACANT STORES!

• Profiles the leading andexpanding chains reported on theprevious year

• Contains Contact Names,Addresses, Telephone Numbers,Fax Numbers, and Email Addresses

• With two indexes to make contacteasier -- Alphabetically by storename and by retail category

• Lists the number of new storessought, their space requirements,the type of centers, andgeographic areas for expansion

• The prime source of informationfor owner-developers, leasingagents, managers, brokers --DEALMAKERS!!!

SAVE 30% WITH

FALL DISCOUNT

$105 PRE-PAID

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

For the third quarter, Simon Prop-erty Group announced funds fromoperations (FFO) increased 2% to$473.1 million; for malls, occupancydropped 1.1% to 91.4% comparablesales per sq. ft. declined to $438 from$493; for outlet centers, occupancydropped 1.3% to 97.5% and sales persq. ft. dropped to $492 from $515.Rents, however, increased, for mallfrom $39.26 per sq. ft. to $40.05, andfor outlet centers, from $27.12 to$32.95...Duane Reade Holdings, Increported third quarter net sales in-creased 4.2% to $448.9 million andsame-store sales were up 0.7%. Thecompany operates 254 stores... Co-lumbus, OH-based Glim-cher RealtyTrust said revenues for the third quar-ter dropped to $74.6 million from $81.4million as FFO declined $1.3 millionto $17.5 million; for its Core Malls,average rents increased 8 cents per sq.ft. to $27.21 while sales decreased 5.4%to $349 for the 12 months, and occu-pancy declined 1.2% to 91.9%... Forthe quarter ended Sept 27, Ruth'sHospitality Group Inc, operator ofmore than 100 Ruth's Chris SteakHouse and Mitchell's Fish Marketdining rooms, reported revenue fell21% to $77.8 million and same-storesales fell 24% and 12.3% for Ruth'sand Mitchell's, respectively... Penn-sylvania Real Estate InvestmentTrust posted a net loss of $9.6 millionfor the third quarter, and sales per sq.ft. fell to $335 vs. $351 last year.Occupancy rates for the The Philadel-phia-based REIT portfolio of 38 mallsand 13 shopping centers were 89.4%vs. 89.9%...For the third quarter, TimHorton's, which has 2,971 outlets inCanada and 556 in the U.S., said same-store sales were up 3.1% in Canadaand up 5.4% in the U.S. as revenuesincreased 10.7% to $563.6 million from$509 million... Bloomfield Hills, MI-based Taubman Centers reported thatfor the third quarter, tenant sales de-clined 2.9%, with a per sq. ft. declineof 10.9%; for the 12 months, salesdropped 11.8% to $497 per sq. ft.;occupancy for the quarter dropped 2%to 88.5% and rents per sq. ft. weredown 2.5%...For the year ended July

31, Zale Corp reported a net loss of$189.5 million, or $5.94 per share,compared to a net loss of $6.5 million,or $0.15 per share; comparable storesales fell 16.6% compared with a lossof 0.7% in the prior year...Jacsonville,FL-based Winn-Dixie Stores reportedtotal sales for the quarter fell 2% to$1.6 billion and same-store sales fell1.5%...For the quarter ended Sept 30,Acadia Realty Trust announced FFOper share of $0.33 compared to $0.26and same-store net operating incomefell 2.5% compared to 2.3%. Thecompany's portfolio occupancy was92.5% compared to 94.2%...Cheese-cake Factory said cost savings in thethird quarter boosted its profit nearly38% to $16.3 million though sales fell1% to $400.6 million; same-tore salesdropped 2.8%. The company operates146 namesake restaurants, 13 GrandLux Cafes, and one RockSugar PanAsian Kitchen... For the third quarter,Weingarten Realty Investors re-ported a $9.4 million loss...ChipotleMexican Grill Inc, which operates911 restaurants, reported third-quartersales were up 14.6% to 13.3 billionand same-store sales rose 2.7%; netincome was up 77% to $34.5 million...Developers Diversified Realty re-ported a third-quarter FFO loss of $90.1million, compared with last year's profitof $96.7 million; its core portfolio was90.9% leased, compared with last year's94.5%, and rent rates for new and re-newed leases fell 3.5%... Mc-Donald'sCorp announced global comparablesales for the third quarter were up 3.8%including an increase of 2.5% in theU.S....Aaron's, the leading rentalchain, reported third quarter revenuesrose 7% to $415.3 million, earningsincreased 24% to $24.7 million, andsame store revenues were up 6.3%...Specialty footwear retailer DSW Inchas increased its estimate of compa-rable store sales for the third quarter to6-8% from a negative mid-single dig-its; earnings per share should be 70-80cents per share, from the earlier esti-mated 37-45 cents... J.Crew Groupannounced that better than anticipatedsales in the third quarter have resultedin its raising its anticipated earnings to

54-59 cents per share from the originalforecast of 30-33 cents per share, andsame-store sales to rise to high singledigit increases; if the trend continues,it also expects fourth quarter in-creases... Safeway Inc said third quar-ter profit fell 35.5% to $128.8 millioncompared to $199.7 million and salesfell 7% to $9.5 billion from $10.2billion...Luby's, which recently closed19 restaurants and now operates 95locations, reported sales were down$13.8 million to $80.2 million andsame-store sales fell 13.6%... Swedishfast-fashion chain Hennes & Mauritz(H&M) said same-store sales for themonth of Sept were down 8% and totalsales were up 1%. The company oper-ates 1,869 stores...For the third quar-ter, Agree Realty reported FFO wasup 8.8% to $6 million compared to$5.5 million and its portfolio was98.1% leased at the end of thequarter.. .The Sherwin-WilliamsCompany announced consolidated netsales for the third quarter were down12% or $271.7 million to $1.997 bil-lion and net sales were down 1.6%...Forthe quarter, Brinker International Incearned $15.8 million compared to$23.8 million and revenue fell 21% to$778.1 million; same-restaurant salesfor Chili's, On the Border, andMaggiano's fell 6%, 5.1% and 6.6%,respectively...Cedar Shopping Cen-ters reported revenues for the quarterended Sept 30 were up 6.3% to $45.9million and FFO was $14.2 millioncompared to $14.3 million. Thecompany's occupancy rate for its sta-bilized portfolio remained at 95%...Peet's Coffee & Tea, Inc said netrevenue for the 13 weeks ended Sept27 was up 8% to $73.9 million from$68.5 million and net income was $2.5million compared to $2 million... Chi-cago, IL-based Jones Lang La SalleInc reported revenue for the quarterwas down 9% to $595 million.

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

For the third quarter, Simon Prop-erty Group announced funds fromoperations (FFO) increased 2% to$473.1 million; for malls, occupancydropped 1.1% to 91.4% comparablesales per sq. ft. declined to $438 from$493; for outlet centers, occupancydropped 1.3% to 97.5% and sales persq. ft. dropped to $492 from $515.Rents, however, increased, for mallfrom $39.26 per sq. ft. to $40.05, andfor outlet centers, from $27.12 to$32.95...Duane Reade Holdings, Increported third quarter net sales in-creased 4.2% to $448.9 million andsame-store sales were up 0.7%. Thecompany operates 254 stores... Co-lumbus, OH-based Glim-cher RealtyTrust said revenues for the third quar-ter dropped to $74.6 million from $81.4million as FFO declined $1.3 millionto $17.5 million; for its Core Malls,average rents increased 8 cents per sq.ft. to $27.21 while sales decreased 5.4%to $349 for the 12 months, and occu-pancy declined 1.2% to 91.9%... Forthe quarter ended Sept 27, Ruth'sHospitality Group Inc, operator ofmore than 100 Ruth's Chris SteakHouse and Mitchell's Fish Marketdining rooms, reported revenue fell21% to $77.8 million and same-storesales fell 24% and 12.3% for Ruth'sand Mitchell's, respectively... Penn-sylvania Real Estate InvestmentTrust posted a net loss of $9.6 millionfor the third quarter, and sales per sq.ft. fell to $335 vs. $351 last year.Occupancy rates for the The Philadel-phia-based REIT portfolio of 38 mallsand 13 shopping centers were 89.4%vs. 89.9%...For the third quarter, TimHorton's, which has 2,971 outlets inCanada and 556 in the U.S., said same-store sales were up 3.1% in Canadaand up 5.4% in the U.S. as revenuesincreased 10.7% to $563.6 million from$509 million... Bloomfield Hills, MI-based Taubman Centers reported thatfor the third quarter, tenant sales de-clined 2.9%, with a per sq. ft. declineof 10.9%; for the 12 months, salesdropped 11.8% to $497 per sq. ft.;occupancy for the quarter dropped 2%to 88.5% and rents per sq. ft. weredown 2.5%...For the year ended July

31, Zale Corp reported a net loss of$189.5 million, or $5.94 per share,compared to a net loss of $6.5 million,or $0.15 per share; comparable storesales fell 16.6% compared with a lossof 0.7% in the prior year...Jacsonville,FL-based Winn-Dixie Stores reportedtotal sales for the quarter fell 2% to$1.6 billion and same-store sales fell1.5%...For the quarter ended Sept 30,Acadia Realty Trust announced FFOper share of $0.33 compared to $0.26and same-store net operating incomefell 2.5% compared to 2.3%. Thecompany's portfolio occupancy was92.5% compared to 94.2%...Cheese-cake Factory said cost savings in thethird quarter boosted its profit nearly38% to $16.3 million though sales fell1% to $400.6 million; same-tore salesdropped 2.8%. The company operates146 namesake restaurants, 13 GrandLux Cafes, and one RockSugar PanAsian Kitchen... For the third quarter,Weingarten Realty Investors re-ported a $9.4 million loss...ChipotleMexican Grill Inc, which operates911 restaurants, reported third-quartersales were up 14.6% to 13.3 billionand same-store sales rose 2.7%; netincome was up 77% to $34.5 million...Developers Diversified Realty re-ported a third-quarter FFO loss of $90.1million, compared with last year's profitof $96.7 million; its core portfolio was90.9% leased, compared with last year's94.5%, and rent rates for new and re-newed leases fell 3.5%... Mc-Donald'sCorp announced global comparablesales for the third quarter were up 3.8%including an increase of 2.5% in theU.S....Aaron's, the leading rentalchain, reported third quarter revenuesrose 7% to $415.3 million, earningsincreased 24% to $24.7 million, andsame store revenues were up 6.3%...Specialty footwear retailer DSW Inchas increased its estimate of compa-rable store sales for the third quarter to6-8% from a negative mid-single dig-its; earnings per share should be 70-80cents per share, from the earlier esti-mated 37-45 cents... J.Crew Groupannounced that better than anticipatedsales in the third quarter have resultedin its raising its anticipated earnings to

54-59 cents per share from the originalforecast of 30-33 cents per share, andsame-store sales to rise to high singledigit increases; if the trend continues,it also expects fourth quarter in-creases... Safeway Inc said third quar-ter profit fell 35.5% to $128.8 millioncompared to $199.7 million and salesfell 7% to $9.5 billion from $10.2billion...Luby's, which recently closed19 restaurants and now operates 95locations, reported sales were down$13.8 million to $80.2 million andsame-store sales fell 13.6%... Swedishfast-fashion chain Hennes & Mauritz(H&M) said same-store sales for themonth of Sept were down 8% and totalsales were up 1%. The company oper-ates 1,869 stores...For the third quar-ter, Agree Realty reported FFO wasup 8.8% to $6 million compared to$5.5 million and its portfolio was98.1% leased at the end of thequarter.. .The Sherwin-WilliamsCompany announced consolidated netsales for the third quarter were down12% or $271.7 million to $1.997 bil-lion and net sales were down 1.6%...Forthe quarter, Brinker International Incearned $15.8 million compared to$23.8 million and revenue fell 21% to$778.1 million; same-restaurant salesfor Chili's, On the Border, andMaggiano's fell 6%, 5.1% and 6.6%,respectively...Cedar Shopping Cen-ters reported revenues for the quarterended Sept 30 were up 6.3% to $45.9million and FFO was $14.2 millioncompared to $14.3 million. Thecompany's occupancy rate for its sta-bilized portfolio remained at 95%...Peet's Coffee & Tea, Inc said netrevenue for the 13 weeks ended Sept27 was up 8% to $73.9 million from$68.5 million and net income was $2.5million compared to $2 million... Chi-cago, IL-based Jones Lang La SalleInc reported revenue for the quarterwas down 9% to $595 million.

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(continued from P. J532)discount clothing store Wear Districthas recently opened, American Familycenter hopes to open an arcade by Dec1, and construction may have alreadybegun on My Family Puppy pet store;existing anchors Macy’s, JCPenney,Sears, and Burlington Coat Factory;127 stores; parking 7,291 cars;population 531,885 within 20 miles;average household income $58,587;developer Jones Lang LaSalle (Ed G.McHale), c/o Genessee Valley Center,3341 S Linden Rd, Flint, MI 48507,(810) 732-4006, Email: [email protected].

NEVADACarson City: Renovations underwayon Carson Mall at Carson and StewartSts in Douglas County; project to givethe mall ‘village’ look on the newlybuilt east side of the mall; tenantsinclude The Wedding Emporium,Revelations Costume Boutique, New2 U Bridal, and Anytime Photo, aswell as The Christmas Store, CherokeeScents Candle Co, The Dance Shoppe,The V&T Shop, and Ruho VintageConsignment; new eateries within thevillage include L&L Hawaiian Bar-becue, Charley’s Grilled Subs, andPaul Schat’s Bakery; other foodestablishments include Paradise CoveCafe, Deli Francesco, Carl’s Jr., DutchBros. Coffee, and Little Ceasar's Pizza;in addition, 30 new vendors for theholidays opened earlier this month;developer The Carrington Company(Andrew Hale), PO Box 1328, Eureka,CA 95502, (707) 445-9601, Email:[email protected]

NEW HAMPSHIREMerrimack: Developers asking Towncouncil to consider extending a taxpayment deadline by six months forthe delayed development of 550,00sq. ft. Merrimack Premium Outlets on170 acres at W of Exit 10 on the F.E.Everett Tpk (See SCD, P. J435); 135stores; developer Chelsea PropertyGroup, a Simon Company, 105Eisenhower Pkwy, Roseland, NJ07068-1029, (973) 228-6111. www.simon.com.

NEW JERSEY

Bridgewater: Expansion planned for970,000 sq. ft. Bridgewater Commonson 120 acres at SR 202/ 206, 22, and I-287 in Somerset County (See SCD, P.J217); anchors Lord & Taylor, Macy’s,and Bloomingdales; 175 stores;parking 4,500 cars; opened ‘88; lastrenovated in ‘06; population 534,209;average household income $108,267;developer General Growth Properties,110 N Wacker Dr, Chicago, IL 60606-1116, (808) 591-8411, www.generalgrowth.com.

NEW YORKYonkers: $250 million, 200,000 sq.ft. expansion and renovation to becompleted by the end of ‘10 on 1million sq. ft. Cross County ShoppingCenter on 71 acres at Cross CountyPkwy, Central Ave, and NY StateThruway in Westchester County (SeeSCD, P. J399); plans call for acombination of new luxury andmoderate-priced retailers, including anexpansion of Macy’s and the additionof Bebe, AX Armani Exchange, H&M,

Forever 21, American Eagle, andVictoria's Secret Pink; existing tenantsalso include Sears, Super Stop & Shop,National Amusements Multiplex, andOld Navy; 90 stores; parking 5400cars; opened ‘54; population 2 millionwithin 7 miles; average householdincome $45,000; developer BrooksShopping Centers Inc, 708 Third Ave,15th Fl, New York, NY 10704, (212)557-1400; managing partner BenensonCapital Partners LLC, 708 3rd Ave28th Fl, New York NY 10017-4201,(212) 867-0990, www.benesoncapital.com.

PENNSYLVANIAStraban Twp: Results of changes inregards to a zoning hearing could affectthe proposed development of 518,205sq. ft. Gettysburg Crossing on 72 acresat Rts 30 and 15 in Adams County (SeeSCD, P. J447); anchors Wal-MartSupercenter 206,000 sq. ft. and BJ’sWholesale Club; parking 2,344 cars;developer Faison Inc, 121 W Trade St,Ste. 2700, Charlotte, NC 28202-1195,(704) 972-2500, www.faison.com.

TENNESSEEKingsport: Initial phases of multi-million-dollar redevelopment andexpansion underway at 530,000 sq. ft.Fort McHenry Mall (to be renamedKingsport Town Center) on 53 acres atFort Henry Dr and Memorial Blvd inSullivan County (See SCD, P. J73);project to include interior and exteriorimprovements; new tenants willinclude Rue 21 and Nutty Java; inaddition, mall is relocating some storesto make way for a new food court onthe upper level; anchors JCPenney,Sears, and Belk; 68 stores; parking3,029 cars; opened ‘76; last renovatedin ‘89; population 287,655 within 10miles; average household income$45,088; developer Somera CaptialManagement, 222 N Sepulveda Blvd,Ste. 2375, El Segundo, CA 90245,(310) 641-8060, www.someracapital.com.

TEXASDallas: New ownership/partnershipplans to revitalize the 1.8 million sq.ft. Southwest Center Mall (formerlyRed Bird Mall) on 100 acres at Hwy67, I-20 and Camp Wisdom Rd inDallas County (See SCD, P. J402);initiative to add value to property,

(continued)

Kitchen Collection, theOhio-based chain specializing incookware, bakeware, small ap-pliances and the like, is capital-izing on the trend of amateurchefs and home-cooking to ex-pand its reach.

It has signed leases to openstores in four malls operated byThe Cafaro Co of Youngstown,OH.

Opening in time for the up-

Kitchen Collection Makes Cafaro Dealscoming holiday season will beunits at Frenchtown Square Mall,Monroe, MI; Governor’s SquareMall, Clarksville, TN; KentuckyOaks Mall, Paducah, KY; andKennedy Mall, Dubuque, IA.

Further information may beobtained from Norm Peters, TheCafaro Co, P.O. Box 2186,Youngstown, OH 44504, (330)747-2661, Email: [email protected] .

increase tenants, lower the vacancyrate, and create more customer traffic;anchors Sears, Macy's, and BurlingtonCoat Factory; 90 stores; parking 6,600cars; opened ‘75; population 459,100within 21 miles; average householdincome $48,000; developer jointventrue Jimmy Jazz of Brooklyn, NY,Cityview Commercial, and MadisonRealty Capital, 461 Fifth Ave, 12th Fl,New York, 10017, (212) 255-2900;leasing Woodmont Co, 2100 W 7th St(817) 735-4738, Fort Worth, TN76107-2306, (817) 732-4000,www.woodmont.com.Houston: Revised renovation planssubmitted for 1.35 million sq. ft.Sharpstown Center on 43 acres at SWFrwy and Bellaire Blvd in HarrisCounty (See SCD, P. H372); originalplan, which needed $20 million inpublic money, were rejected; projectto include a new grocery store, movietheater, and other uses to make theproperty more family friendly; anchorBurlington Coat Factory; 160 stores;parking 7,000 cars; opened ‘95; popu-lation 387,537 within 10 miles; aver-age household income $70,000; de-veloper Boxer Property Management,

720 N Post Oak Rd (Justin Segal), Ste.500, Houston, TX 77024, (713) 777-7368,Email: [email protected]: Developers looking at allow-ing retail development along the pe-rimeter of the 628,000 sq. ft. Broad-way Square mall on 46 acres at SBroadway and Loop 323 in SmithCounty (See SCD, P. G6); projectcould include national chain restau-rants; anchors Dillard’s, JCPenney, andSears; 75 stores; parking 3,300 cars;opened ‘75; population 154,005 within10 miles; average household income$63,464; developer Simon PropertyGroup, Inc, National City Center, PO

Box 7033, Indianapolis, IN 46207,(317) 636-1600, www.simon.com.

CANADA

Chilliwack, BC: Wal-Mart is buildinga 150,000 sq. ft. retail outlet at 700,000sq. ft. The Eagle Landing Retail Centrecurrently under construction on landowned by the Squiala First Nation;anchors to also include a 31,000 sq. ft.Cineplex Odeon; Wal-Mart to open bythe end of ‘10; developer EagleLanding Retail Limited Partnership ajoint venture of Squiala First Nationand League Assets, #217 - 2187 OakBay Ave, Victoria, BC V8R 1G1,(877)772-8836, Email: [email protected].

Zamias Acquires Residential UnitsShopping center owner-de-

veloper The Zamias Co ofJohnstown, PA, has entered thefield of residential developmentswith the acquisition of theSamuel Land Co, co-owner offive buildings containing 520apartments in the Pittsburgh area.

Damian Zamias, president ofthe Zamias Services, the prop-erty management unit, said it willto operate as a Zamias division.

It is understood that the com-pany is seeking other apartmentacquisitions in Pittsburgh andSouthwest Pennsylvania.

(continued from P. J532)discount clothing store Wear Districthas recently opened, American Familycenter hopes to open an arcade by Dec1, and construction may have alreadybegun on My Family Puppy pet store;existing anchors Macy’s, JCPenney,Sears, and Burlington Coat Factory;127 stores; parking 7,291 cars;population 531,885 within 20 miles;average household income $58,587;developer Jones Lang LaSalle (Ed G.McHale), c/o Genessee Valley Center,3341 S Linden Rd, Flint, MI 48507,(810) 732-4006, Email: [email protected].

NEVADACarson City: Renovations underwayon Carson Mall at Carson and StewartSts in Douglas County; project to givethe mall ‘village’ look on the newlybuilt east side of the mall; tenantsinclude The Wedding Emporium,Revelations Costume Boutique, New2 U Bridal, and Anytime Photo, aswell as The Christmas Store, CherokeeScents Candle Co, The Dance Shoppe,The V&T Shop, and Ruho VintageConsignment; new eateries within thevillage include L&L Hawaiian Bar-becue, Charley’s Grilled Subs, andPaul Schat’s Bakery; other foodestablishments include Paradise CoveCafe, Deli Francesco, Carl’s Jr., DutchBros. Coffee, and Little Ceasar's Pizza;in addition, 30 new vendors for theholidays opened earlier this month;developer The Carrington Company(Andrew Hale), PO Box 1328, Eureka,CA 95502, (707) 445-9601, Email:[email protected]

NEW HAMPSHIREMerrimack: Developers asking Towncouncil to consider extending a taxpayment deadline by six months forthe delayed development of 550,00sq. ft. Merrimack Premium Outlets on170 acres at W of Exit 10 on the F.E.Everett Tpk (See SCD, P. J435); 135stores; developer Chelsea PropertyGroup, a Simon Company, 105Eisenhower Pkwy, Roseland, NJ07068-1029, (973) 228-6111. www.simon.com.

NEW JERSEY

Bridgewater: Expansion planned for970,000 sq. ft. Bridgewater Commonson 120 acres at SR 202/ 206, 22, and I-287 in Somerset County (See SCD, P.J217); anchors Lord & Taylor, Macy’s,and Bloomingdales; 175 stores;parking 4,500 cars; opened ‘88; lastrenovated in ‘06; population 534,209;average household income $108,267;developer General Growth Properties,110 N Wacker Dr, Chicago, IL 60606-1116, (808) 591-8411, www.generalgrowth.com.

NEW YORKYonkers: $250 million, 200,000 sq.ft. expansion and renovation to becompleted by the end of ‘10 on 1million sq. ft. Cross County ShoppingCenter on 71 acres at Cross CountyPkwy, Central Ave, and NY StateThruway in Westchester County (SeeSCD, P. J399); plans call for acombination of new luxury andmoderate-priced retailers, including anexpansion of Macy’s and the additionof Bebe, AX Armani Exchange, H&M,

Forever 21, American Eagle, andVictoria's Secret Pink; existing tenantsalso include Sears, Super Stop & Shop,National Amusements Multiplex, andOld Navy; 90 stores; parking 5400cars; opened ‘54; population 2 millionwithin 7 miles; average householdincome $45,000; developer BrooksShopping Centers Inc, 708 Third Ave,15th Fl, New York, NY 10704, (212)557-1400; managing partner BenensonCapital Partners LLC, 708 3rd Ave28th Fl, New York NY 10017-4201,(212) 867-0990, www.benesoncapital.com.

PENNSYLVANIAStraban Twp: Results of changes inregards to a zoning hearing could affectthe proposed development of 518,205sq. ft. Gettysburg Crossing on 72 acresat Rts 30 and 15 in Adams County (SeeSCD, P. J447); anchors Wal-MartSupercenter 206,000 sq. ft. and BJ’sWholesale Club; parking 2,344 cars;developer Faison Inc, 121 W Trade St,Ste. 2700, Charlotte, NC 28202-1195,(704) 972-2500, www.faison.com.

TENNESSEEKingsport: Initial phases of multi-million-dollar redevelopment andexpansion underway at 530,000 sq. ft.Fort McHenry Mall (to be renamedKingsport Town Center) on 53 acres atFort Henry Dr and Memorial Blvd inSullivan County (See SCD, P. J73);project to include interior and exteriorimprovements; new tenants willinclude Rue 21 and Nutty Java; inaddition, mall is relocating some storesto make way for a new food court onthe upper level; anchors JCPenney,Sears, and Belk; 68 stores; parking3,029 cars; opened ‘76; last renovatedin ‘89; population 287,655 within 10miles; average household income$45,088; developer Somera CaptialManagement, 222 N Sepulveda Blvd,Ste. 2375, El Segundo, CA 90245,(310) 641-8060, www.someracapital.com.

TEXASDallas: New ownership/partnershipplans to revitalize the 1.8 million sq.ft. Southwest Center Mall (formerlyRed Bird Mall) on 100 acres at Hwy67, I-20 and Camp Wisdom Rd inDallas County (See SCD, P. J402);initiative to add value to property,

(continued)

Kitchen Collection, theOhio-based chain specializing incookware, bakeware, small ap-pliances and the like, is capital-izing on the trend of amateurchefs and home-cooking to ex-pand its reach.

It has signed leases to openstores in four malls operated byThe Cafaro Co of Youngstown,OH.

Opening in time for the up-

Kitchen Collection Makes Cafaro Dealscoming holiday season will beunits at Frenchtown Square Mall,Monroe, MI; Governor’s SquareMall, Clarksville, TN; KentuckyOaks Mall, Paducah, KY; andKennedy Mall, Dubuque, IA.

Further information may beobtained from Norm Peters, TheCafaro Co, P.O. Box 2186,Youngstown, OH 44504, (330)747-2661, Email: [email protected] .

increase tenants, lower the vacancyrate, and create more customer traffic;anchors Sears, Macy's, and BurlingtonCoat Factory; 90 stores; parking 6,600cars; opened ‘75; population 459,100within 21 miles; average householdincome $48,000; developer jointventrue Jimmy Jazz of Brooklyn, NY,Cityview Commercial, and MadisonRealty Capital, 461 Fifth Ave, 12th Fl,New York, 10017, (212) 255-2900;leasing Woodmont Co, 2100 W 7th St(817) 735-4738, Fort Worth, TN76107-2306, (817) 732-4000,www.woodmont.com.Houston: Revised renovation planssubmitted for 1.35 million sq. ft.Sharpstown Center on 43 acres at SWFrwy and Bellaire Blvd in HarrisCounty (See SCD, P. H372); originalplan, which needed $20 million inpublic money, were rejected; projectto include a new grocery store, movietheater, and other uses to make theproperty more family friendly; anchorBurlington Coat Factory; 160 stores;parking 7,000 cars; opened ‘95; popu-lation 387,537 within 10 miles; aver-age household income $70,000; de-veloper Boxer Property Management,

720 N Post Oak Rd (Justin Segal), Ste.500, Houston, TX 77024, (713) 777-7368,Email: [email protected]: Developers looking at allow-ing retail development along the pe-rimeter of the 628,000 sq. ft. Broad-way Square mall on 46 acres at SBroadway and Loop 323 in SmithCounty (See SCD, P. G6); projectcould include national chain restau-rants; anchors Dillard’s, JCPenney, andSears; 75 stores; parking 3,300 cars;opened ‘75; population 154,005 within10 miles; average household income$63,464; developer Simon PropertyGroup, Inc, National City Center, PO

Box 7033, Indianapolis, IN 46207,(317) 636-1600, www.simon.com.

CANADA

Chilliwack, BC: Wal-Mart is buildinga 150,000 sq. ft. retail outlet at 700,000sq. ft. The Eagle Landing Retail Centrecurrently under construction on landowned by the Squiala First Nation;anchors to also include a 31,000 sq. ft.Cineplex Odeon; Wal-Mart to open bythe end of ‘10; developer EagleLanding Retail Limited Partnership ajoint venture of Squiala First Nationand League Assets, #217 - 2187 OakBay Ave, Victoria, BC V8R 1G1,(877)772-8836, Email: [email protected].

Zamias Acquires Residential UnitsShopping center owner-de-

veloper The Zamias Co ofJohnstown, PA, has entered thefield of residential developmentswith the acquisition of theSamuel Land Co, co-owner offive buildings containing 520apartments in the Pittsburgh area.

Damian Zamias, president ofthe Zamias Services, the prop-erty management unit, said it willto operate as a Zamias division.

It is understood that the com-pany is seeking other apartmentacquisitions in Pittsburgh andSouthwest Pennsylvania.

Mall properties

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

Dothan: City commission approves a120-day extension for the redevelop-ment of 382,998 sq. ft. Northside Mallat Ross Clark Circle and Hwy 231 inHouston County; project to include anew 45,000 sq. ft. Publix Supermarket;anchors also include Stein Mart, HomeDepot, Books-A-Million; 61 stores;parking 1,900 cars; opened ‘70;population 144,495 within 20 miles;average household income $34,746;developer AIG Baker, 1701 LeeBranch Ln, Birmingham, AL 35242-4218, (205) 969-1000, www.aigbaker.com.

ARIZONAChandler: City council approveszoning change for a planned PaseoLindo “lifestyle village” on 68 acres atNE corner of Arizona Ave and OcotilloRd (See SCD, P. I886); anchor Target;project to also include other major andjunior anchors, fast-casual and sit-down restaurants, as well as specialtyshops; in addition, homes are beingbuilt on 27 acres north of the site;opening fall ‘10; developer REDDevelopment, 6263 N Scottsdale Rd,Ste. 330, Scottsdale, AZ 85250, (480)947-7772, www.reddevelopment.com.

MARYLANDFrederick: Financing arrangementscompleted for a planned $29.5 million,380,000 sq. ft. Clemson Corner on 38acres bordered by U.S. 15, Md 26 andMd 355 (See SCD, P. J496); anchorsWegmans, Lowe’s, and Marshall’s;opening spring ‘11; developer ClemsonCorner LLC, a joint venture of Faison-Clemson LLC,121 W Trade St, Ste.2700, Charlotte, NC 28202-1195,(704) 972-2500, www.faison.com andAtapco Clemson LLC, Ten E BaltimoreSt, Ste. 1600, Baltimore, MD 21210,(410) 347-7185.

MASSACHUSETTSSomerville: Landswap completedgiving developer an additional 16.6acres for the development of a 340,000sq. ft. IKEA at Assembly on the Mysticon 16.6 acres at the site of AssemblySquare mixed-use, transit orientedurban village on the riverfront;

developer Federal Realty InvestmentTrust (Don Briggs), 1626 E JeffersonSt,, Rockville, MD 20852, (301) 998-8100, Email: [email protected].

NEW HAMPSHIRESeabrook: Developer has filed alawsuit against the town planningboard which oppose a portion of aproposed 449,965 sq. ft. shoppingcenter on 51 acres off Provident Wayand Lafayette Rd (Rt 1) (See SCD, P.J463); opposition due to residents’concerns about increased traffic;anchors Target 137,000 sq. ft. andpossibly Best Buy, 96,000 sq. ft.; 15stores; developer Developers Diver-sified Realty, 3300 Enterprise Pkwy,Beachwood, OH 44122, (877) 225-5337, www.ddr.com.

NEW YORKEast Harlem: A 110,000 sq. ft. Costcohas opened as the first tenant of a long-awaited 485,000 sq. ft. East River Plazaon 6 acres along FDR Dr, from 116thSt to 119th St, from the Hwy to PleasantAve (See SCD, P. I922); other anchorswill include Target, Marshall’s, andBest Buy, which will start moving innext spring; parking 1,250 cars;developer joint venture Forest CityRatner (Lon Rubackin), 1 MetroTechCenter N, Brooklyn, NY 11201, (718)923-8436, Email: [email protected], and Blumenfeld DevelopmentGroup, Ltd, 6800 Jericho Tpke, Ste.102E, Syosset, NY 11791-4498, (516)921-0800.

NORTH CAROLINAMebane: Construction underway on317,000 sq. ft. Tanger Factory Outleton 52 acres at Exit 154 on I-48 and 85at Arrowhead Blvd in Alamance/Orange County (See SCD, P. J310);65-75 stores will include Saks FifthAvenue OFF 5th, Banana RepublicFactory Store, Coach Factory, GapOutlet, J. Crew, Michael Kors, BCBG/Girls, Nike Factory Store, and TommyHilfiger; opening late ‘10; developerTanger Factory Outlet Centers (CarrieWarren), 3200 Northline Ave, Ste. 360,P.O. Box 10889, Greensboro, 27404,

(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 Apartments

650,000 Square Feet of Retail

Georgia

Louisiana

Montana

New York

Pennsylvania

Virginia

Peninsula TownCenterHampton, Virginiawww.peninsulatowncenter.com

New Jersey

Visit our booth: 170 Rhinelander Gallery, ICSC New York Deal Making

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