Levin Announces Michaels Stores Lease at Fairlane Village Mall

Feb. 14, 2012 - PRLog -- Arts and crafts retailer Michaels Stores, Inc. has leased 22,000 square feet at Fairlane Village Mall in Pottsville, announced retail real estate services firm Levin Management and property owner Ashok Mehra. The long-term commitment comes on the heels of another major lease, by Kohl's Department Stores, reflecting significant momentum and progress for the 405,000-square-foot property.

Michaels Stores is North America's largest specialty retailer of arts, crafts, framing, floral, wall décor and seasonal merchandise for the hobbyist and do-it-yourself home decorator. The company owns and operates more than 1,000 Michaels stores in 49 states and Canada, as well as 135 Aaron Brothers stores.

"Michaels is a highly popular retailer," said Michael Cohen, vice president of leasing for Levin, which serves as exclusive leasing and managing agent for Fairlane Village Mall. "We think that our shoppers here will be happy to welcome them to our tenant mix. Additionally, this lease testifies to the appeal of Fairlane Village Mall for retailers. This property has become the established community gathering place for Pottsville and all of Schuylkill County. Simply put, all the good stores want to be here."

Kohl's will be opening its new 57,860-square-foot store in early March, and the firm is talking with other prospects about joining the mall's tenant mix.

Fronting on Route 61, which carries 20,000 cars a day, and just a mile from downtown Pottsville, Fairlane Village Mall was named Best Shopping Center for the second year in a row in the annual "Best Of" competition sponsored by Schuylkill Living magazine. Its other anchors include Boscov's, Super Shoes, CVS, Harbor Freight Tools, and Dollar Tree, itself a new tenant. Lowe's Home Improvements is a shadow anchor. The balance of the property's tenant roster features a diverse mix of national, regional and local retailers including Rue 21, Kay Jewelers, Littman Jewelers, Regis, Wachovia, Radio Shack, Schuylkilll Valley Sports, GNC, Fashion Bug and Hallmark Gold Crown.

AN ESTABLISHED DESTINATION; AN IMPROVING MARKET

According to Ashok Mehra, the recent anchor leases have all but absorbed an 80,000-square-foot space formerly occupied by Value City. This milestone speaks to both the mall's appeal for retailers, overall improving conditions for retail, and the market area's improving demographics.

"Fairlane Village Mall sits in the middle of the retail heart of Schuylkill County, with a five-mile population of 38,000 and average household income of more than $55,000," Mehra said. "Population and incomes are both growing throughout the county, and our customers come from 20 miles away and more."

Fairlane Village Mall's wide range of family-friendly events and promotions has contributed to its reputation as Schuylkill County's premier shopping destination.

Levin Management Corporation, founded in 1952, has managed Fairlane Village Mall since 2006. The firm has brought Kohl's, Michaels, Super Shoes, Dollar Tree, Harbor Freight Tools and Amelia's Discount Grocery to the property during its tenure. Headquartered in North Plainfield, N.J., the firm offers a full range of services for its clients, including leasing, property management, accounting, construction management, marketing and risk management. The company's management and leasing portfolio includes more than 90 diverse retail properties totaling more than 12.5 million square feet in New Jersey, New York, Pennsylvania, Virginia, North Carolina and Florida. Properties range from neighborhood, community, lifestyle and power centers, to enclosed malls, downtown stores and mixed-use projects.

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About Levin Management: Founded in 1952, Levin Management Corporation is one of the nation's leading retail real estate services firms, offering management, leasing and many other services to clients throughout the northeastern United States. Founded by a pioneering real estate developer, Levin Management takes an owner's approach to the business. The company's management and leasing portfolio consists of more than 90 diverse retail properties totaling 12.5 million square feet. Properties range from downtown stores to lifestyle centers, and from neighborhood and community centers to power centers, in New Jersey, New York, Pennsylvania, Virginia, North Carolina and Florida. Other services include accounting, construction management, marketing and risk management. The company has been recognized for repositioning, retenanting and renovating retail properties, services that have become particularly vital for today's institutional, fiduciary and individual retail property owners.