FLORIDA RETAIL BRIEFS

Belk Renews Lease And Renovates St. Augustine Store
ST. AUGUSTINE, FL: Belk Stores has signed a new lease for its anchor location in the Divaris leased and managed Ponce de Leon Mall on U.S. Route 1 in St. Augustine, Florida. Belk occupies 43,563 square feet in the mall, which is also anchored by J.C.Penney and Regal Cinemas. Belk plans to renovate its store, in keeping with the extensive renovation and expansion program that is planned by mall owner, John Hancock Mutual Life Insurance Company. Founded in 1888, Belk is the nation's largest privately-owned department store group, operating 260 stores in 13 states throughout the Southeast and Mid-Atlantic regions. The lease renewal was negotiated by Gerald Divaris of Divaris Real Estate, Inc. representing both the Landlord, John Hancock Mutual Life Insurance Company and Belk Stores.

19-Screen Theatre Complex Comes To ParkSide
PINELLAS PARK, FL: R/C Theaters has signed a lease for 76,000 square feet in the Divaris leased and managed ParkSide, an 850,000 square foot enclosed regional mall located at 7200 U.S. Highway 19, in Pinellas Park, Florida. R/C Theaters has operated a three-screen discount theater at ParkSide since 1997. It will construct a new complex of 19 screens, with state-of-the-art surround sound, stadium seating for 4,000 people, and covered parking. Formerly Pinellas Square Mall, ParkSide has undergone a multi-million dollar renovation. In addition to R/C Theaters, ParkSide has added a skating rink, a food court, and has renovated the interior of the mall, gearing more towards a mix of local and national retailers. It is anchored by Dillards, J.C. Penney and Montgomery Ward and is home to several small shops and boutiques. ParkSide is owned by John Hancock Mutual Life Insurance Company and is leased and managed by Divaris Real Estate. The R/C Theaters lease was negotiated by John Wingfield, senior vice president of DRE's Tampa office. Divaris Real Estate is the national real estate representative for R/C Theaters. This Maryland-based company is planning a major expansion in 2000/2001 and will be opening several new multiplex stadium seating theater complexes, nationwide.

Bally Total Fitness Signs Two New Leases
PEMBROKE PINES, FL: Bally Total Fitness has signed a lease for 25,000 square feet of space in Pembroke Crossing, a power center located at the intersection of Pembroke Boulevard and Hiatus, in Pembroke Pines, Florida. DRE also negotiated a 28,000 square foot lease of retail space for Bally Total Fitness at the intersection of Commercial Boulevard and Old Dixie Highway in Miami, Florida. With approximately 4 million members and 320 locations in 27 states, Bally Total Fitness is the largest and only nationwide commercial operator of fitness health clubs in the United States. DRE is exclusive tenant representative for Bally Total Fitness in Florida. Mickey Finkle, principal of DRE's Miami office, represents Bally's in Florida, working with Stanton Englander of DRE's Tampa office, to cover that trade area.

Dollar General Leases In West Plam Beach, Purchases Land In Fayette, Alabama
WEST PALM BEACH, FL: Dollar General has signed a lease for 7,500 square feet of retail space in the Divaris leased Shoppes at Cresthaven, located at 2601 South Military Trail in West Palm Beach, Florida. DRE's Miami office represented the Landlord, ESG Companies, in the negotiations. The company also purchased 1.15 acres of land located on Temple Avenue at 14th Street in Fayette, Alabama. Dollar General plans to use the land to construct a 10,000 square foot retail store. B. Stewart Jacobs of DRE's Jackson, Mississippi office, represented the Seller, Interstate Jitney Jungle Stores, Inc., in the negotiations. Dollar General is a publicly traded retailer, specializing in items such as kitchen gadgets, paper products, and general merchandise, all for the price of one dollar. The first store opened in 1955 in Kentucky. Dollar General now has over 3,000 locations nationwide.