CANTON,
Mich., May 9, 2024 /PRNewswire/ -- First National
Realty Partners (FNRP), a leading national private equity
commercial real estate firm, announced the successful execution of
a lease agreement with Michaels at Premier Center in Canton,
Michigan. The addition of Michaels not only solidifies the
center as a premier shopping destination but also brings its
occupancy to 100 percent, completing a significant milestone in the
property's business plan.
Michaels, one of the largest providers of craft supplies in the
nation, opened at the center in March, filling the prime
17,514-square-foot retail space. The firm swiftly capitalized on
its extensive network to secure Michaels as a tenant, promptly
filling the vacancy left by the previous office retailer.
"We are thrilled to welcome Michaels to Premier Center," said
Fred Battisti, chief revenue
officer. "Its presence not only complements the existing mix, which
includes Kroger, Home Depot and Dick's Sporting Goods, but fulfills
the center's missing component: a dedicated arts and crafts supply
store."
The strategic addition of Michaels aligns with the ongoing surge
in popularity of craft stores. The rise of DIY projects during the
COVID-19 pandemic fueled consumer interest in creative hobbies, a
trend that continues to benefit retailers like Michaels as they
expand their footprints.
"During the challenging times of the COVID-19 pandemic, Michaels
and other retailers experienced a surge in demand as people turned
to crafting and hobbies while staying at home," noted Sam Collier, evp of leasing. "Recognizing this
trend, we partnered with Michaels to expand their presence and meet
the evolving needs of the community."
The execution of the Michaels deal underscores FNRP's agility
and responsiveness in seizing opportunities within the market.
Leveraging its leasing expertise and longstanding relationships,
FNRP quickly executed a lease deal with Michaels, capitalizing on
the center's prime location and high visibility.
Michaels joins a diverse mix of national tenants including Five
Below, Ruby Tuesday, Great Clips, and The UPS Store.
FNRP provides accredited investors with access to institutional
quality commercial real estate assets specializing in
necessity-based real estate: grocery-anchored retail, multifamily,
and industrial and sourcing opportunities both on and off-market
nationwide. From acquisition to disposition, FNRP oversees the
entire investment lifecycle 100% in-house, leveraging top talent in
legal, acquisitions, leasing, and other key areas. For more
information, visit www.fnrpusa.com.
Contact:
Jessica DeMarino
jdemarino@fnrpusa.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/first-national-realty-partners-secures-big-box-tenant-to-reach-100-occupancy-at-premier-center-in-canton-michigan-302141337.html
SOURCE First National Realty Partners, LLC