Irving, Texas-based Michaels Stores Inc. reached almost $2 billion in sales in 1999, with 629 Michaels stores it owns and operates in 48 states, Canada, and Puerto Rico and the 121 Aaron Brothers stores, located on the West Coast and in Dallas. Sales totals for the 2000 are expected to be released February 8, 2001. Michaels became a publicly held company in 1984. The company's retail stores average 17,600 square feet of selling space and offer on average 40,000 items.
Lea Clay and Paul Barlett of Staubach Retail Services' Irvine office represented Michaels. James R. Costanzo represented his company, Newport Beach-based Pacific Development Partners, shopping center owner, in the transaction.
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