Tom Woods of Colliers International tells GlobeSt.com that the arts and craft outlet, located at the northwest corner of Power and McKellips roads, is expected to open within a month. "It's a great location,' says Woods, who represented tenant and building owner, Grace McKellips LLC. The long-term lease is valued at more than $2.6 million over its term.
Woods says Michael's will be positioned between Home Depot and Staples and across the street from Target, allowing the craft store to take advantage of the busy traffic flow around the new commercial center. Red Mountain Plaza also includes plans for several restaurants and other brand-name retail stores, he said.
The site was earmarked for a new Michaels location because of the phenomenal population growth in the East Valley, Woods adds.
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