AVENUE PLANS AGGRESSIVE GROWTH

DESPITE ECONOMIC SLOWDOWN

PLYMOUTH MEETING, PA.—Unlike many retailers that are cutting back on new store openings during the current economic slowdown, Avenue is aggressively seeking new store opportunities, according to Brandon Famous, CEO and founder of Fameco Real Estate, the exclusive tenant representative for Avenue in the tri-state area.  “Avenue is not only projecting new store growth for this year, but into 2009 as well,” Famous said.  “Among the criteria Avenue has established for the shopping centers in which it will locate are strong anchors, preferably a national supermarket chain and/or national chains offering off-price fashions.  Power centers, located in the center of the market’s shopping area with a population of at least 150,000 residents and a household income of $50,000, are preferred.”  Famous and Fameco’s Jed Masloff are the brokers for Avenue in this market area.

Famous said the typical Avenue store, which sells a wide range of women’s fashions, accessories and “plus” sizes, is 5,000 square feet, but it will consider locations ranging in size from 4,500 to 5,500 square feet in the right configurations – approximately 50 by 100 feet.

United Retail, which did business as Avenue, was recently acquired by Redcats , Inc., a subsidiary of Redcats Group, a leading home shopping marketer of apparel and home products.

Based in Plymouth Meeting, Pa., Fameco is the Delaware Valley’s foremost real estate firm in the retail sector.  Fameco specializes in retailer representation, owner representation, investment sales and management services in Pennsylvania, New Jersey, Delaware and beyond. 

The firm is the exclusive representative for 90 shopping centers and retail properties totaling 17 million s.f. in the tri-state area, manages 10 million s.f. of retail space and exclusively represents more than 75 retailers expanding in the Delaware Valley.  Fameco’s Investment Sales team has completed transactions in excess of $1 billion.

Fameco is the ChainLinks member shareholder in the Delaware Valley.  ChainLinks is the nation’s largest retail-only real estate provider with 62 regional brokerage firms in the U.S. and Canada.

February 15 , 2008