"As the undisputed leader for retail arts and crafts supplies, Michaels already enjoys tremendous success in this market, and we are confident these new, more specialized concepts also will be a hit," JBGR vice president Bob Schwenger claims. According to the NAI Real Estate Planning Guide for 2003, JBG--which oversees leasing activity for a huge stable of retail properties--can expect to see asking prices ranging from $20 to $35 per sf at neighborhood service centers, or $14 to $18 per sf at community power centers. The leasing commitments are expected to be wrapped up by year's end.
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