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Business Profile: Michael Wachs
Retail Developer
Meet Michael Wachs, a University of Pennsylvania graduate, who resides in Philadelphia with his wife and two teenage children. So what does Wachs have to do with Auburn?
Name a store on Grant Avenue, and chances are he’s played a major role in bringing it to our community. Before starting his own company, Wachs worked as head of real estate for the women’s clothing store Fashion Bug that, ironically, currently occupies space in Auburn Plaza, which Wachs now owns. His job then was finding the perfect location for hundreds of new Fashion Bug stores.
During his fifteen-year tenure, Wachs learned which ingredients make successful retail combinations. His formula calls for diversity and local flavor, mixing smaller businesses and big chains. Downtown Deli’s presence in Auburn Plaza is a good example.
Although he has plenty to keep him busy in Auburn, Wachs has developments in various other NY locations including Plattsburgh, Massena, Johnstown, Newark, Glens Falls and Oswego.
Wachs described these areas as “commercially ‘underserved’ and located just far enough away from their ‘over-stored’ neighbors, such as Syracuse. People shouldn’t have to drive 30 miles, one way, to get the items that they need.”
When Wachs was asked about the high-end retailers he’s worked with, he said he’s more interested in securing the best brands in their respective markets, for example what Sherman-Williams is to the paint business.
Wachs also owns other Auburn retail developments including Grant Avenue Plaza, a property totaling 115,000 sq. ft., which now boasts MoviePlex 10, Tractor Supply Company, Big Lots and others.
Wachs additionally lured home improvement store Lowe’s to Auburn, plus managed the project build, and is now working on building another Lowe’s on Interstate 690 and Midler Avenue in Syracuse. This project is being led by Wachs' partners in this development, the Syracuse based, Pioneer Company.
Auburn Plaza Welcomes New Tenants this Fall
The addition of A.C. Moore Arts and Crafts will create a prominent presence in Auburn Plaza early this fall, balancing the plaza’s façade with architectural depth and dimension.
The regional creative supply chain recently leased space for a 22,000-square-foot store- utilizing a prototype design- on Grant Avenue. The vacant Advance Auto Parts and Ace Hardware stores will be combined to accommodate the renovation, expected to Grand Open September 9th.
“The current facade will be transformed into a replica of the existing Bed, Bath & Beyond,” Wachs said, referring to the 25,000 sq. ft. home store that opened at the opposite end of the complex in ‘04. A.C. Moore has more than 100 stores in the eastern United States, stocks tens of thousands of art supplies, knitting materials and scrapbook accessories.
Wachs has added an impressive list of chain retailers and restaurants since purchasing both the Grant Avenue Plaza and Auburn Plaza in ‘99. These include Marshall's, Metro Mattress, Applebee's Restaurant, GameStop, Famous Footwear, Dollar Tree, Liberty Travel, Pet Depot, Radio Shack, Tractor Supply Company, Sterling Optical, and Sally Beauty to name a few.
“I am delighted to help welcome A.C. Moore to Auburn and Cayuga County,” Wachs said. “It will be the perfect compliment to Bed, Bath & Beyond, Marshall's and the other merchants in the Plaza and along Grant Avenue.”
A few doors down from A.C. Moore, Wachs has a lease agreement with national paint retailer Sherman-Williams, who will occupy the former On Cue space bringing Auburn Plaza to full occupancy, said Wachs, who also plans to repave the entire parking lot for the September opening of A.C. Moore. Wachs said he approached Sherman-Williams to relocate from their location on W. Genesee Street, where they have been for almost 20 years.
Around the plaza corner, Total Tan, a Buffalo-area indoor tanning outfit, is setting up shop in half of the former Hancock Fabrics store. The business was founded 14 years ago, and now boasts 30 locations in NY and PA. They offer half a dozen different types of tanning equipment, oil, lotions and accessories.
The other half of Hancock Fabric’s old space will house a temporary Halloween store, Wachs said. The seasonal costume shop will have a 90-day lease there, running August 15 – November 15.
Apart from Grant Avenue, Wachs was not opposed to considering other Auburn locations for retail development, including downtown.
Wachs said he pitches to all types of companies. Unfortunately, businesses don’t seek him out on their own. “It takes serious persistence and a lot of hard work,” Wachs said.
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