Aeropostale of Lansing Township’s Eastwood Towne Center recently closed due to poor sales and high rent.
The Aeropostale branch in Eastwood Towne Center closed after the store accepted the fact that its sales weren’t high enough to pay the rent.
The Eastwood Towne Center store was one of three located in the greater Lansing area. The other two are located on Grand River in Okemos and Saginaw Hwy in Lansing.
Eastwood Towne Center was developed by Jeffrey R. Anderson Real Estate and opened in 2002. This store opened with the mall.
“It was a business decision with having three Aeros in our area,” former employee Adoree Killips said. “Rent is much higher in Eastwood then the other two locations, meaning our profits needed to be much higher for the company.”
Rent in Lansing Township’s open-air mall varies between $20 and $40 per square foot per year. A commercial rental in Frandor Shopping Center ranges from $9 to $14. One near Meridian Mall in Okemos is also $14.
The portion of the building where Aeropostale was located is 3,600 square feet and will soon be home to a new business in the expansion the mall will undergo.
— Amanda Chaperon