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EXCESS SPACE RETAIL SERVICES RETAINED BY MICHAELS STORES TO DISPOSE OF 15 LOCATIONS


LAKE SUCCESS, New York –Michaels Stores has selected Excess Space Retail Services, Inc. (ESRS), the leading consulting and advisory firm specializing in real estate disposition and lease restructuring for retailers and financial institutions nationwide to exclusively manage the disposition of 16 locations with an aggregate of 220,695 square feet

These locations range in size from 6,041 to 69,917 square feet and are located in Alabama, California, Colorado, Georgia, Massachusetts, North Carolina, New Mexico, Texas, Virginia, Washington and West Virginia. Heading the real estate disposition assignment for ESRS will be Leo Greco, Senior Managing Director, from the firm's East Coast Office in Lake Success, New York.

About Excess Space Retail Services, Inc.

Founded in 1992, Excess Space, with offices in Lake Success, New York and Huntington Beach, California, has set the industry standard for providing leading national and regional retailers with "best-in-class" real estate disposition, lease restructuring and lease renewal services. During the company's 18 year history, Excess Space has successfully disposed of and restructured leases for over 130 national and regional retailers. For more information about the privately held firm, call Al Williams at (866) 594-9800 ext. 211 or reference the company’s Web site at www.ExcessSpace.com.

About Michaels Stores

As the largest arts and crafts retail chain in the nation, Michaels is leading the industry being the store “Where Creativity Happens” for craft and hobby enthusiast. The company owns and operates 1,046 Michaels Stores, 137 Aaron Brothers stores and 7 distribution centers.

For specific information about the Michaels Stores project please contact Leo Greco (800) 435-8384 ext. 229.