Hempstead IDA approves new leases for three retailers Green Acres Mall

Hempstead, NY Fred Parola, chief executive of the Town of Hempstead Industrial Development Agency (IDA), has approved leases for three new retailers at Green Acres Mall and its adjacent Green Acres Common in Valley Stream, both IDA projects. 

The new leases, approved by the IDA at its Sept. 29 meeting, continue the unabated leasing progress at Green Acres, which is owned by an affiliate of Macerich Co. of Santa Monica, CA. The mall has a PILOT (payment-in-lieu) program that requires the IDA to approve its new leases.

Among the leases — all subject to execution — is one for the first True Religion designer jeans store on Long Island.

True Religion, a jeans retailer linked to hip-hop artists and rappers, is focused on Gen Z consumers. The chain, founded in 2002, will lease 2,818 s/f and will have 4.5 full-time-equivalent employees with an estimated annual payroll of $75,000. Los Angeles-based True Religion operates retail and outlet locations across more than 20 states in the U.S. It currently operates stores in Kings Plaza Mall and Queens Center, both malls owned by Macerich.

The other newly approved leases at the mall were for: 

— Timberland, which plans to open a 1,608 s/f store with nine employees and an estimated total annual payroll of $195,600. Timberland is part of Denver-based VF Corp.

— T-Mobile Northeast LLC, the wireless network operator that is part of Bellevue, WA-based T-Mobile US Inc., will operate a 3,488 s/f store with four full-time employees. “These new leases continue to bolster our confidence in having made the right decision to provide assistance to the mall,” said Parola. “They will bring additional customers to the mall, provide additional jobs. and help to generate new sales-tax revenues.”