Three new retailers are coming to Green Acres Mall and the adjacent Green Acres Common in Valley Stream after leases were approved Sept. 29 by the Town of Hempstead Industrial Development Agency.
The leases, which are subject to execution, include the first True Religion designer jeans store on Long Island, according to the IDA.
True Religion will lease 2,818 square feet and is expected to employ 4.5 full-time-equivalent employees, with an estimated annual payroll of $75,000. The Los Angeles-based retailer, founded in 2002, operates stores and outlets in more than 20 states. It also has locations at Kings Plaza Mall and Queens Center, both owned by Macerich Co., which owns Green Acres Mall through an affiliate.
The retailer is known for its designer jeans and has marketed to younger consumers, including members of Generation Z.
Timberland plans to open a 1,608-square-foot store with nine employees and an estimated annual payroll of $195,600. The retailer is part of VF Corp., based in Denver.
T-Mobile Northeast LLC, part of Bellevue, Washington-based T-Mobile US Inc., will operate a 3,488-square-foot store and employ four full-time workers.
Fred Parola, chief executive of the Town of Hempstead IDA, said the new leases demonstrate continued confidence in the mall.
“These new leases continue to bolster our confidence in having made the right decision to provide assistance to the mall,” Parola said in a statement. “They will bring additional customers to the mall, provide additional jobs and help to generate new sales-tax revenues.”
Green Acres Mall is participating in a payment-in-lieu-of-taxes program that requires the IDA to approve new leases at the property.
The Town of Hempstead IDA is a public benefit agency authorized by New York state to provide financial assistance and tax relief to qualified businesses relocating, expanding or building in the Town of Hempstead.
According to the agency, its assistance has resulted in more than $2 billion in project financing and created or retained 11,000 permanent jobs.
The agency said the new leases are part of continued leasing activity at Green Acres Mall, which has undergone efforts to attract new retailers and customers.
