Exclusive Investment Offering: Condominium Interest - Transwestern
Exclusive Investment Offering: Condominium Interest - Transwestern
Exclusive Investment Offering: Condominium Interest - Transwestern
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39<br />
Tenant Profiles<br />
Hollywood Video<br />
5,547 Sq. Ft.<br />
National Tenant<br />
From a single store in Portland, Oregon, Hollywood<br />
Entertainment has grown to become an industry leader<br />
with more than 2,000 Hollywood Video superstores<br />
and more than 600 Game Crazy specialty retail outlets<br />
nationwide. The first store opened in 1988 and in 1990,<br />
Hollywood revolutionized the home entertainment<br />
industry with the national rollout of 5-Day Rentals on<br />
everything in the store.<br />
In 2005, Hollywood Entertainment was acquired by<br />
Movie Gallery, Inc., creating a combined organization<br />
of more than 4,500 stores serving urban, suburban<br />
and rural markets. Under the terms of the Merger<br />
Agreement, Hollywood became a wholly owned<br />
subsidiary of Movie Gallery, however continues to<br />
operate under the Hollywood brand name. Hollywood<br />
Entertainment is still headquartered in Wilsonville,<br />
Oregon. Investor information for Movie Gallery can be<br />
found at www.moviegallery.com.<br />
In October, Movie Gallery, Inc. (which includes Hollywood<br />
Entertainment Company, MG Digital, LLC, MGA Realty<br />
et al) announced that it had filed voluntary petitions for<br />
relief under Chapter 11 of the U.S. Bankruptcy Code<br />
in order to re-align operations and restructure debt.<br />
They have entered into agreements with their various<br />
creditors, and are reportedly moving forward, business<br />
as usual. The tenant has neither affirmed nor rejected<br />
the subject lease. Hollywood Video is current on rent<br />
through November 1, 2007.<br />
Nails Boutique<br />
1,227 Sq. Ft.<br />
Local Retailer<br />
Impulsive<br />
1,362 Sq. Ft.<br />
Local Retailer<br />
Impulsive is a unique boutique featuring upscale hand<br />
crafted art and unique gifts. From the stained glass,<br />
pottery, hand carved wood, wall tiles, mirrors, masks,<br />
bronze sculptures, Red Hat Society Dolls, hand blown<br />
glass lamps & fountains, jewelry, furniture to sterling<br />
silver jewelry, each item is distinctive and original.<br />
Hoang’s Grill & Sushi Bar (Hoang’s, Inc.)<br />
3,357 Sq. Ft. (includes 106 Sq. Ft. of storage space)<br />
Local Retailer<br />
Featuring authentic Vietnamese, Thai and Japanese<br />
pan-Asian cuisine, Hoang’s Grill & Sushi Bar is new to<br />
Northern Virginia. The restaurant format created by<br />
Chef Hoang has previously enjoyed a history of success<br />
in Sanibel Island, Florida and Baltimore, Maryland. The<br />
restaurant has catering services for party trays, office<br />
luncheons, formal weddings, and corporate events as<br />
well. The restaurant was named the Best New Artful<br />
Asian Restaurant by Northern Virginia Magazine.<br />
Spectrum Sales Office<br />
3,090 Sq. Ft.<br />
Local Sales<br />
Waterford Development currently operates a sales<br />
office for its latest residential development, The<br />
Spectrum, directly adjacent to the The Broadway. The<br />
sales office features information on condominium<br />
models and exhibits the highest level of design and<br />
décor.<br />
Nails Boutique specializes in beauty services including<br />
manicures, pedicures, and waxing services.<br />
At left: Hollywood Video Storefront; Above: Nails Boutique Storefront; Far right: Spectrum Sales Office<br />
ASSET INVESTMENT SALES GROUP