Michael’s Enters Gateway Mall on a “Public” High!
Michaels, the North American Giant of arts and crafts, is making it’s way into the Gateway Center Mall with major “Public” interest. As of Friday, the arts and crafts super store, which went private in 2006, excitedly announced it’s place back into the public, with it’s initial public offer (IPO) raising $472 million. Shares were officially listed on NASDAQ on Saturday, at a public price of $17 per share.
This news comes amidst it’s new presence in the long-awaited expansion of the Gateway Center Mall in East New York. Michael’s Gateway location shines among it’s neighboring tenants with over 22,000 square feet of creative possibilities.
The surrounding communities within East New York, Canarsie, and Cypress Hills – boasts numerous arts programs and over 60 educational institutions (public and private), with two newly constructed $80 million schools; giving Michael’s serious consumer and community outreach potential from the new Gateway Mall location. Michaels is slated to open Summer 2014!