The Lightstone Group Announces 11,500 Square Feet of Lease Signings at Birney Mall

Outdoor Mall Gains Dollar Store; Holiday Hair Renews

Sep 26, 2011, 15:13 ET from The Lightstone Group

MOOSIC, Pa., Sept. 26, 2011 /PRNewswire/ -- The Lightstone Group, one of the largest private real estate owners in the country, announced today that two leases were recently signed, totaling 11,500 square feet, at the 195,000-square-foot Birney Mall in Moosic, Pa.

Dollar Tree signed on for 10,000 square feet at the center. The retailer inked a five-year lease with three five-year options to renew. A major renovation effort will be completed by both Landlord and Tenant prior to move in.

The Regis Corporation (d/b/a Holiday Hair) signed a 1,500 square-foot renewal for a four-year term.

Both lease signings came on the heels of a 31,000-square-foot lease renewal by Big Lots, a leading business-to-business exchange that provides top quality merchandise and below wholesale prices.

"We are thrilled to welcome Dollar Tree to the tenant mix at Birney Mall and to continue our relationship with Holiday Hair," said David Lichenstein, Chairman of the New York City-based Lightstone Group. "We believe Dollar Tree will be a great addition that will fuel more traffic to the center."

Located on 3409 Birney Avenue at the split of the southbound and northbound sections of Route 11, Birney mall is approximately two miles southwest of downtown Scranton, Pa.  Kmart, Big Lots, and Empire Beauty are among the other tenants. There is a covered mall way to shield customers from the elements while walking from store to store.  

"Dollar Tree is a great fit with the already-established retailers at Birney Mall," stated Jeffrey Dash, Vice President of Leasing for Lightstone Group. "This center benefits from a prime, easily accessible traffic controlled intersection and Dollar Tree is sure to find a customer base."

To learn about leasing opportunities at Birney Mall or other retail centers owned by the Lightstone Group, please contact Jeffrey Dash at jdash@lightstonegroup.com or by calling 908-688-8300.

About The Lightstone Group

Founded in 1988 by David Lichtenstein, The Lightstone Group has grown to become one of the largest privately held real estate companies in the United States.  Its diversified portfolio of industrial, office, retail and residential real estate assets includes 10 million square feet of commercial space and more than 8,000 multifamily units in 20 states and Puerto Rico.  

The Lightstone Group manages its business through operating platforms, each focused on a specific real estate asset class.  Headquartered in New York, The Lightstone Group employs more than 500 professionals.  For more information, visit www.lightstonegroup.com.

SOURCE The Lightstone Group



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