The Palm Beach Post from West Palm Beach, Florida • Page 44

8D THE PALM BEACH POST THURSDAY, MARCH 5, 1998 Malls fill retail void for Treasure Coast shoppers Mcintosh to help pick AST. LUCIE COUNTY MARTIN COUNTY" West Jensen We feel that we have I created a retail shoppings-Mecca f. BOB MORGANO Manager, Treasure Coast Square successor MCINTOSH From ID HpiSliTlilir 1 Sunset Jensen Beach I counting firm Coopers Lybrand before joining Blvd. I Gunster Yoakley in 1984 said. The most dramatic change will involve a vacant, anchor slot.

The Mervyn's chain pulled out of Florida, and Dillard Department Stores bought the Treasure Coast space and nine other Mervyn's locations in Florida and Georgia in January 1997. The two-story store has been vacant since. Rumors among mall employees in the past year have had several department stores filling the slot, including Lord Taylor, Uptons and Beall's. At least one Beall's confirmed Wednesday that it had extended talks with Simon DeBartolo about the store in the past five months. But Simon DeBartolo representatives spoke with Martin -Britt Rd.

Lowe's, among others. "It's certainly a major hub now," Stuart retail analyst Merle Dimbath said. Today, Treasure Coast Square is remaking itself even as new retailers are remaking the surrounding area. Gone are several tenants that held 10-year leases, including Thorn McAn and Florsheim Shoes. Leases for about 31 percent of the mall's specialty store space expire this year.

Stepping in to fill some of the gaps are Bath Body Works and children's clothier Gymboree. By the fall, casual clothing store Old Navy will fill a slot formerly occupied by Lerner New York, Express and The Limited. Either relocating within the mall or expanding are Bonnie's Pinecrest Lakes because of his expertise in finance and management. MALLS From ID door for newcomers. Simon De-Bartolo also might replace the mall's vacant Mervyn's store with a Bed, Bath Beyond while expanding its six-screen theater to a megaplex.

"There will be a lot of activity in the (mall) in the next year, some of which will be visible to the public and some of which will not," said Gary Moss, Simon De-Bartolo regional manager. Treasure Coast Square was built by a partnership of Ohio-based DeBartolo Realty Corp. and J.C. Penney Realty. Its smaller competitors such as the Martin Square Mall in Stuart soon lost tenants to it.

"It stole customers from the Palm Beach Mall and the Boca Raton Mall (which once stood on the site of Mizner Park) back in the late '80s," said Dan Deighan, Dixie Hwy. Stephen Page, chairman of the firm's executive com planners this week about a plan to; replace the vacant Mervyn's with a smaller, one-floor Bed, Bath Beyond store and add several screens to the mall's theater. No formal plans have been filed. l'j Officials of Simon the theater company and Bedyv. Bath Beyond could not beo reached Wednesday for com- ment mittee, praised Mcintosh for positioning the firm "on UNA LAWSONStaf Artist the leading edge of client service.

It's unclear whether the firm will again seek a strong, visible non-lawyer as its chief executive or Hallmark, Footlocker, The Gap turn to a lawyer, as most and Champs Sporting Goods, other firms do. rage said Rooms To Go, Pier 1 Imports and Chili's restaurant have put up stores. Nearby shopping centers landed tenants such as Home Depot, Service Merchandise and Barnes Noble Booksellers. Stores and shopping centers that have opened near the mall total about 870,000 square feet, according to the Martin County Property Appraiser's Office. Proposed or under construction are 500,000 square feet that will add Circuit City, HomePlace and among others.

the firm will consider law yers and nonlawyers, but Morgano said the mall will likely retain its 85 percent occu an independent property apprais Credit Problems O.K. First Mortgage PurchaseRefinance Second Mortgages to 125 LTV pancy rate after the transition is completed. "We're not renovating er. "The mall became the center of Stuart to the south, Port St. Lucie to the north and Jensen Consolidate Credit Cards No Income VerificationNo Ratios the mall, but we 11 get a new look Beach to the east.

It became the No Closing Cost Program Available by adding a number of stores, he No Income Verification. Employed or Self-Empoyea. main (attraction) in the area." The partnership widened U.S. COASTLINE MORTGAGE, INC. 1 to six lanes from four so that 4fo (561)687-4414 Jensen Beach could accommo date the mall.

By the early 1990s. 2000 Palm Beach Lakes Boulevard West Palm Beach I jr. Cor. M(r. Lciirlfr DeBartolo bought Penney's stake only if they have experience as administrators.

Mcintosh's high-profile work has included serving as chairman of Florida Tax-Watch and as president of The United Way of Palm Beach County and the YM-CA of the Palm Beaches. He also has served on statewide study committees for the governor and is active at the University of Florida, including serving as president of the National Alumni Association. Mcintosh said he's entertaining offers, some of which include running companies, but he won't make any quick decisions. in the mall. then, a few years ago, DeBartolo merged with Mel Simon's mall company to form Si mon DeBartolo.

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