Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)
Issue link: https://sct.epubxp.com/i/74664
RET AILING TODA Y resentatives and the regional directors, we have about 45 people on the ground doing transactions." In North America eight regional directors oversee acquisitions of sites, stores and leased space in their part of the country through programs fitted to local opportunities and market condi- tions. In the Northeastern U.S., Ken Barnes, a regional development director, is particularly interested in locations in New York City's borough of Manhattan or end-cap space in outdoor shopping malls. The company plans to double its 20-store presence in Manhattan over the next year and to grow to about 135 units there by 2017. The chain is seeking opportunities Built for Speed. Nobody beats Milbrook Properties for delivering fast, flexible retail leases that meet tenants' needs. RETAIL AVAILABILITES FLORIDA Flamingo Market Place Pembroke Pines | 140,046 SF FMS Corners Pembroke Pines | 37,644 SF Hollywood Palms Hollywood | 214,902 SF Shoppes at Margate Margate | 57,758 SF Shoppes at Pembroke Pembroke Pines | 81,296 SF NEWJERSEY Aviation Marketplace Linden | 644,565 SF Edison Plaza Edison | 103,996 SF Princeton Meadows Plainsboro | 66,000 SF Royal Plaza East Windsor | 24,750 SF NEWYORK Adams Commerce Plaza Hauppauge | 29,412 SF Baldwin Square Baldwin | 77,804 SF Bay Shore Commons Bayshore | 109,295 SF Bethpage Commons Bethpage | 73,500 SF Bi-County Commons East Farmingdale | 69,947 SF Bohemia Commons Bohemia | 78,100 SF Cherry Valley CornersWest Hempstead | 34,800 SF Huntington Crossroads Huntington Station | 13,863 SF Kenmor Plaza Seaford | 22,086 SF Lake Shore Plaza Lake Ronkonkoma | 99,565 SF Nanuet Mall South Nanuet | 70,432 SF NY Avenue Stores Huntington Station | 16,819 SF Spring Valley Marketplace Spring Valley | 324,818 SF Tali Plaza of Nyack Nyack | 30,583 SF Waverly Corners Holtsville | 10,750 SF NYCVarious opportunities in all boroughs Contact us today to set up an appointment to meet with our leasing representative at the Florida Conference. For more information, please contact: Charles Hirsch | chirsch@milbrookproperties.com Tom LiPuma | tjlipuma@milbrookproperties.com Rubin Pikus | rpikus@milbrookproperties.com 42 Bayview Avenue | Manhasset,NY 11030 | T516.869.1240 F 516.869.8576 | milbrookproperties.com to build stores or to acquire existing convenience stores with gas pumps, as well as urban in-fill locations. In and around Washington, D.C., it wants walk-up stores, highly visible shop- ping center end caps, and freestanding stores with gas pumps. In the Greater Los Angeles area, it plans to open 50 stores this year and 75 more next year. In Canada, the chain seeks a variety of sites in the Greater Toronto Area as well as strip centers and urban walk- up locations there and in Edmonton- Calgary and the Vancouver area. And it also plans to open some 60 stores in Florida this year. The company is focusing its North American growth on markets where it already has stores, plus a few cities it is re- entering, including Charlotte, N.C., and Jacksonville, Fla. The company's support infrastruc- ture makes it an excellent choice for a franchise operator, says Toney Sleiman, president and CEO of Jacksonville, Fla.– based Sleiman Enterprises, which has leased space to 7-Eleven for six stores in Jacksonville and is negotiating at least a dozen more in North Florida. "Where else can a mom-and-pop invest some money, own their own business and run it, and have the backing of a company like 7-Eleven?" said Sleiman. The company leans to stores that measure 2,000 to 3,000 square feet but is also open to a range of sizes and con- figurations, particularly when acquiring existing stores for conversion. Though 80 percent of 7-Eleven units are fran- chised, the company prefers to acquire real estate or to lease, whether franchised or company-owned, says Porter. "We have a very flexible development program, which is what landlords like," Porter said. "They also like our credit rat- ing — we're an investment-grade tenant, and we haven't defaulted on a lease in our 85-year history." SCT 18 SCT / AUGUST 2012