Done Deals
Cincinnati’s Americana Amusement Park Closes
Park River West, owners of Americana Amusement Park, announced the closing of the
Cincinnati, Ohio entertainment complex. Located 20 miles south of Cincinnati, the park was
an area landmark, operating over 77 years and hosting an estimated 25 million visitors.
Lower-than-expected attendance and growing competition from other area parks were cited as
the reasons for the closing.
The closing will not affect the operation of 100-year-old Coney Island amusement park,
also run by Park River West. Company officials say that Americana is for sale and are
pursuing new owners who may want to continue its operation as an amusement park. There are
no current sale negotiations.
For more information, contact Bic Nolting, president, Park River West, 513-232-8230.
Platters Open Florida Restaurant
Members of the oldies music group, the Platters, opened Reflections, a restaurant and
night club in Port Charlotte, Florida. Principal owners are Wilson Williams, a Platters
singer who will be in charge of entertainment, and his wife Regina, who will handle the
business details.
Reflections is located at 3400 Tamiami Trail as part of the Litchfield Inn. The restaurant
will feature a “down home” Southern menu as well as traditional fare for
breakfast, lunch and dinner. The nightclub plans to book two nationally-known bands per
month with local acts playing on the nights in between. If the business proves successful,
the Platters hope to open more clubs in Southwest Florida.
For more information, contact Regina Williams, Reflections, 941-235-2247.
NYC Chelsea Market Gets Refinancing
Holliday Fenoglio Fowler, L.P., working in a co-brokerage with Pembroke Realty, arranged a
$77-million loan to refinance Chelsea Market in Manhattan. The three-year-adjustable-rate
financing was arranged on behalf of affiliates of Angelo Gordon & Co., Belvedere
Capital, Scoggin Capital, and the family of developer Irwin Cohen through Deutsche Bank
Securities Inc. The Chelsea Market comprises approximately one million sq.ft. within a
full city square block. The ground level is a one-stop marketplace featuring a wide array
of gourmet cafés and food wholesalers and will soon include television production studios
for the Food Network. The upper floors include an assortment of news media and office
tenants.
The transaction culminates a year in which the Manhattan office of Holliday Fenoglio
Fowler secured in excess of $350 million in mortgage financing in the Chelsea district of
Manhattan. In 1999, the national mortgage banking firm’s debt, structured finance and
investment sales totaled more than $12 billion.
For more information, contact Evan Pariser, Holliday Fenoglio Fowler, 212-245-2425
Boulevard Pub Opens In KC Airport
Boulevard Brewing Company opened a Boulevard Pub in Kansas City International Airport,
offering travelers the chance to sample the company’s local brew. The shop sells
Boulevard beer, sandwiches and merchandise.
Boulevard, a regional specialty brewery, is the second largest brewery in Missouri,
selling its beers and lagers throughout Missouri, Kansas, Nebraska, Iowa, Oklahoma and
Arkansas as well as in parts of Illinois and South Dakota.
For more information, contact Liz Olivarez, Boulevard Brewing Company, 816-474-7095.
Garrick-Aug Reps NYC Spaces
Garrick-Aug Associates was named exclusive leasing agent for 25 Prince Street in the
Nolita neighborhood of New York City. The 800-sq.ft. shop is situated at ground level on
the north side between Elizabeth and Mott Streets. The upscale neighborhood houses
high-end retailers including Calypso, Mark Schwartz, Fresh, Café Habana, Roots, Language,
Soco, Jade, and Henry Lehr.
Garrick-Aug recently arranged a lease for cosmetics retailer Sephora to occupy an
8,400-sq.ft., two-level store at 119 Fifth Avenue at the corner of East 19th Street in the
Flatiron District of New York City. The 15-year lease also includes two five-year renewal
options.
For more information, contact Faith Hope Consolo or Joseph Aquino, Garrick-Aug Associates,
212-557-9090.
KLNB Brokers Sale of Frederick Towne Mall
KLNB, Inc. brokered the sale of Frederick Towne Mall in Frederick, Maryland to an
investment group headed by Philadelphia-based Camden Securities. The seller was Lend Lease
Real Estate Investments, who acted on behalf of its clients.
KLNB is a provider of third-party real estate services in the mid-Atlantic region,
including property sales, landlord leasing, debt origination, joint venture structuring,
tenant representation and property management.
For more information, contact John Blumer, KLNB, 410-321-0100.
Captec Forms New Joint Venture
Following the success of Family Realty, Inc., Captec Net Lease Realty, Inc. formed Family
Realty II, Inc. in order to continue to benefit from the trend toward entertainment-themed
retail venues. With the addition of debt, the venture’s objective is to acquire up to
$100 million in entertainment-based properties by March 2001.
Captec will provide its acquisition, development and management expertise in exchange for
advisory fees and a significant stake in the equity of the fund, creating long-term value
for its shareholders.
As of September 1999, Captec owned and/or managed a diversified portfolio of 257
freestanding restaurant, retail and entertainment properties throughout the United Stated
with an average occupancy rate of 95 percent.
For more information, contact Ron Max, Captec Net Lease Realty, Inc., 800-522-7832.
New Tenants Commit to FlatIron Crossing
FlatIron Crossing at U.S. 36 and Interlocken Loop in Broomfield, Colorado announced four
new tenant commitments. The $200-million project, scheduled to open August 11, is well
into construction. The four latest tenants will be located in the Village at FlatIron
Crossing and include Borders Books and Music, Gordon Biersch Brewery, Djuna Home
Furnishings and P.F. Chang’s China Bistro.
The Village, an outdoor component of FlatIron Crossing, will encompass 240,000 sq.ft. of
retail space, including seven sit-down restaurants, and extend two blocks southwest from
the mall’s south entrance. The project is being developed and leased by Westcor
Partners, of Phoenix.
Demographics show a population of 710,000 with an annual income of $56,000 living within
the immediate trade area.
For more information, contact leasing department, Westcor Partners, 602-953-6230.
Westminster Pulls In Brewery, Restaurants
Westminster Promenade
Westminster Promenade in Denver, a mixed-use project with a retail/entertainment center
anchored by AMC Theaters, will see May openings for Dave & Buster’s, Johnny
Carino’s Country Italian Restaurant, and Rubio’s Baha Grill. Rock Bottom Brewery
is scheduled to open in September.
Under construction just southeast of the retail/entertainment center is the Westin
Westminster Hotel, a three-rink ice center, and 200,000 sq.ft of office space. The area is
expected to attract four million visitors annually.
The entertainment and retail portion of Westminster Promenade is owned by Kansas
City-based Entertainment Properties Trust and Excel Legacy Corp. Leasing is handled by the
Laramie Company of Denver.
For more information, contact Mary Beth Jenkins, Laramie Co., 303-573-1009.
gazoontite.com Plans NYC Store
gazoontite.com, the multi-channel e-tailer offering products, services and information to
help people with allergies and asthma, plans to open a New York City store in April 2000.
Located on Broadway between 75th and 76th Streets, the store is gazoontite.com’s
first on the East Coast and third nationwide.
gazoontite.com offers more than 1,500 products through its stores, Web site
www.gazoontite.com and mail-order catalog. The company’s product range includes
anti-allergen and hypoallergenic bedding, air purifiers, asthma management products,
vacuum cleaners, dust and odor control products, bath and beauty products and
hypoallergenic toys.
For more information, contact Leigh Bohmfalk, gazoontite.com, 415-778-0400 ext. 138.