MIAMI-Richmond, VA-based Circuit City Stores Inc. disposed of four superstore units in as many South Florida locations in what Terranova Corp., which assisted with the dispositions, describes as "part of the retailer's move to improve real estate efficiency nationwide." The consumer electronics retailer suffered a decline of 5.8% in comp store sales in December 2004 and on Feb. 14 received an acquisition proposal from Highfields Capital Management.

Ashley's Furniture, a subsidiary of City Furniture, is taking the 32,288-sf former Circuit City location in Westward Plaza on Okeechobee Boulevard in West Palm Beach. Other tenants include Sports Authority, Office Depot, PetSmart, Dollar Tree and Old Navy. In a second location, Home Goods, an affiliate of TJ Maxx, will move into the 32,200-sf former Circuit City unit in Linton Center at 1350 Linton Blvd. in Delray Beach.

In addition, California Fitness Express plans to occupy the 32,500-sf former electronics retailer's unit in the Fountains Shopping Center on S. University Drive in Plantation. Other Fountains' tenants include Marshall's, Sunrise Cinema, Chili's and Olive Garden. At the fourth location, a Harley Davidson motorcycle dealership moves into a 33,500-sf freestanding former Circuit City store at 19825 S. Dixie Hwy. in Miami near Southland Mall.

Erica Des Roches, director of leasing for Miami Beach-based Terranova Group, handled the dispositions on behalf of Circuit City. Terms of the leases are undisclosed. Average lease rates, though widely disparate among the markets here, average $20.93 per sf in Miami-Dade County, according to a fourth quarter 2004 report from the local office of CB Richard Ellis.

At year-end, Circuit City operated approximately 625 superstores and five mall-based stores in the US. These dispositions reduce its mall-based real estate to two locations.