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Michaels to open at Fairlane Village Mall
Pottsville, Pa. -- North Plainfield, N.J.-based Levin Management Corp. announced that Michaels Stores has leased 22,000 sq. ft. at Fairlane Village Mall in Pottsville, Pa.
Levin is the leasing and management agent for the property, which is owned by Ashok Mehra. Michaels’ commitment comes on the heels of a lease by Kohl’s Department Stores, reflecting momentum for the 405,000-sq.-ft. property.
Kohl’s will be opening its new 57,860-sq.-ft. store in early March.
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Real estate snapshot: Grocery centers and outlets lead development
New York City -- A retail real estate market report, issued by Savills US retail group, found that, even as recovery remains slow, a few formats are progressing at a faster clip than others.
According to Gerry Mason, head of Savills, the majority of recent and planned retail development is in the grocery-anchored and outlet center category. CBL & Associates and Tanger Outlets are among the most active developers scheduled to break ground in 2012.