| Chuck E. Cheese (NYSE:CEC) Renews 14,000 SF at
30 Fox Run Road |
Repositioned Building has Superior Access and
Visibility
Newington, NH (October 19, 2004) - Chuck E. Cheese
(NYSE:CEC) has renewed 14,000 SF of space at 30 Fox Run Road from Cathartes
Private Investments.
Cathartes acquired the building in December 2003.
Faced with a historically under-managed property, Cathartes teamed with CP
Management Company and Feldman Development Partners to launch a significant
capital improvements program. That program included painting, repaving the
parking lot, increasing landscaping and upgrading signage. They also negotiated
an agreement with the Fox Run Mall to increase visibility to the property.
Cathartes has engaged Bob Marchewka of Portsmouth-based Kane Company to
market the remaining space. "Cathartes has done a fantastic job of
repositioning this building," said Marchewka. "The property has excellent
highway access, and the improvements they made not only enhanced the building
but increased its visibility and signage. The signage itself is outstanding.
This property is now considered a top retail choice for tenants in this
market." 30 Fox Run Road is in a superior location, directly adjacent to the
Fox Run Mall and Wal-Mart and visible from the Spaulding Turnpike.
Chuck E. Cheese renewed its 14,000 SF lease for a ten year term within
six months of Cathartes owning the building. The balance of the building is
currently available for tenants from 5,000 to 20,000 SF. Tenants will have the
ability to leverage the existing signage to their benefit.
About
The Kane Company
Founded in 1981, The Kane Company is the leading
commercial and industrial real estate services company in New Hampshire,
southern Maine and northern Massachusetts. Its market knowledge, value-added
capabilities and unmatched transaction history have helped make it the leader
in the commercial real estate field. For more information, call (603) 559-9666
or visit www.netkane.com.
About Cathartes Private
Investments
Headquartered in Boston, Mass., Cathartes Private
Investments (CPI) is a private real estate investment and development company
that targets value-oriented investment opportunities in primary New England
markets.
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