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Dollar Stores Growing

GOODLETTSVILLE, TN-About 6,000 dollar stores are expected to open between now and 2009, according to a report.

By Michelle Napoli | Updated on June 21, 2005

Michelle Napoli is the editor of Real Estate Media’s Net Lease Forum. For the full story, please click on Net Lease Forum.

GOODLETTSVILLE, TN-Dollar stores represent one of the fastest growing segments of the retail industry—and the trend isn’t expected to slow down any time soon. There were about 30,000 dollar stores and other so-called “small-format value retailers” in 2004, and another 6,000 net new stores are expected to open between now and 2009, according to the latest data from Retail Forward Inc., a market research firm in Columbus, OH. The firm’s next annual report on the dollar store industry is expected to be published in a few weeks.

With most of these properties selling for between $500,000 and $1 million, they’re well within the reach of many investors. “They seem to be flying off the shelves,” says Jay Bastian, SVP of Orlando-based Commercial Net Lease Realty Inc. and head of its 1031 exchange division. “It gives the broadest sector of investors out there a chance to buy a net-lease investment.” With the exception of tenant-in-common investments, he notes, “there aren’t many alternatives at that price point.”

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