ALISO VIEJO, CA-Arts and crafts materials retailer Michaels has signed two leases totaling nearly $9 million for stores here and in Victorville in the Inland Empire, according to Colliers Seeley International. The larger of the two transactions signed by the publicly held, Irving, TX-based company is a $5.5-million lease on a 25,050-sf retail property at the Commons of Aliso Viejo Town Center that is a renovated Kmart, reports Paul Bartlett of the Irvine office of Colliers Seeley. Bartlett represented Michaels in both transactions, along with Lea Clay, also of Colliers Seeley. The other lease is a $3.1-million agreement for a 23,800-sf building at the northwest corner of Bear Valley Road and Mall Boulevard in Victorville that is being constructed in a new shopping center located near an existing mall. In the Aliso Viejo lease, Walter Pagel of Grubb & Ellis represented the landlord, the Commons of Aliso Town Center LLC. In Victorville, Westland Commercial Brokerage represented the landlord, Westland Commercial. The Victorville deal represents a relocation for Michaels, which will move to the new store from its old location on the other side of the I-15 Freeway. The leases represent the latest in a series of transactions that Bartlett and Clay have negotiated for the arts and crafts retailer throughout the past six years. Michaels operates more than 800 of its Michaels and 158 Aaron Bros. stores, with total combined sales of more than $3 billion yearly. Besides its retail stores, the company maintains two distribution centers in Southern California, in the City of Commerce and in Lancaster, that are part of its chain of seven national warehouse and distribution operations.

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