PETOSKEY, Michigan--(BUSINESS WIRE)--U.S. Properties Group (USPG) announces the signing of a 31,896 SF lease with Big Lots at Petoskey Town Center. Petoskey Town Center is a 174,870 SF well-established shopping center situated along Michigan Route 131 and just west of North Central Michigan College. The USPG “Upcycling” strategy will be utilized to redevelop the former Kmart location, adding economic value to the area. Big Lots will fill over 37% of the building, stimulating the drive toward upcoming lease announcements for the remainder of the space. Petoskey Town Center will be the headquarters for value shoppers of the town of Petoskey and surrounding market. This acquisition adds variety to the current line-up of shops and creates a new destination for both locals and visitors to explore.
Big Lots is a fresh addition to both Petoskey Town Center and the area. Their mission statement says it all: “We help people live BIG and save LOTS!” The many offerings and name brand bargain closeouts upon which the company was founded are sure to draw deal seekers and curious shoppers. Its ever-changing inventory in over 23 departments offers a one-stop treasure hunt destination for the entire family, grocery to furniture – home décor to gifts – clothing to electronics. This is a huge addition to the area.
Gord Wiebe, Director of USPG states: “Big Lots is a fine company, and we are proud to be part of their growth plan — so many offerings and outstanding brands from across the globe, all under one roof. This store will be a great addition to the ever-changing, already stellar variety of choices at Petoskey Town Center and surrounding areas. We at U.S. Properties Group are proud to invest in the future and continued successes of Petoskey.”
Tim Todaro, Senior Director of Leasing for USPG states: “The addition of Big Lots displays the momentum and forward progress we are pursuing in 2021. We appreciate the relationship/partnership of this growing company and are thrilled with the addition of this tenant to add a new, fresh shopping opportunity to the Petoskey and expanded area.”
About Petoskey Town Center:
Petoskey Town Center is located in Michigan’s north west coastal resort community that opens to Little Traverse Bay on the shores of Lake Michigan. Its quaint and small-town charm has attracted community members and visitors for hundreds of years. Situated just 66 miles north of Traverse City, it has become a destination for many in the Michigan area. Petoskey Town Center includes Hobby Lobby, AAA, Grondin’s Hair Center, and Petoskey Sewing Center. Amid an inviting bay, restaurants, gathering spots and outdoor sport activities, the town of Petoskey offers an array of options.
U.S. Properties Group is growing and owns approximately four million square feet and redevelops shopping centers in 10 states and over 350 tenant relationships, covering the Midwest and Southeast United States, which includes Alabama, Georgia, Illinois, Michigan, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, and Virginia. U.S. Properties Group was founded to create value and realize the “Upcycling” of shopping center assets. They (USPG) and their team of professionals utilize their skills in acquisitions, development, renovation, and management to enhance property values and restore the community marketplaces with best of class tenants and services. For more information visit www.uspginc.com.
