LOS ANGELES-The Chesapeake, CA-based Dollar Tree has completed leases totaling 65,068 square feet at six locations in Southern California. The six new stores will be in Fountain Valley, Pico Rivera, Colton, Rosemead, Norco, and Menifee, all of them five-year deals.
In the past six months, the company has signed leases at 13 Southern California locations during its rapid growth initiative. As GlobeSt.com previously reported, in January, the Dollar Tree signed leases totaling 62,680 square feet at six locations.
Retail brokerage firm, Wilson Commercial Real Estate, worked with Dollar Tree, which Wilson SVP, Scott Burns, called “one of the most active retailer in the marketplace.” Burns points out that Southern California continues to be a high priority for Dollar Tree. Wilson Commercial did not respond to GlobeSt.com queries regarding pricing information by deadline.
The six new Dollar Tree leases in Southern California are for 15,000 square feet at Pico Rivera Towne Center located at 8790 Washington Blvd. in Pico Rivera; 13,295 square feet at 17876 Newhope Dr. in Fountain Valley; 11, 250 square feet at Plaza Las Glorias at 1155 Mt. Vernon in Colton; 9,435 square feet at Rosemead Place at 3566 Rosemead Blvd. in Rosemead; 8,088 square feet at Norco Towne Center located at 2790 Hamner Ave. in Norco; and 8,000 square feet at Menifee Town Center located at 30123 Antelope Rd. in Menifee.
Burns partnered with Studley Retail Services in representing Dollar Tree on all of the deals, including Lea Clay Park on the Pico Rivera, Menifee, Norco and Colton deals, John Beaney on the Fountain Valley deal. In the Pico Rivera deal, the landlord was represented by Bryan Norcott of Studley Retail Services. In the Fountain Valley deal, the landlord was represented by Mark Baziak of Grubb & Ellis. In the Colton and Norco deals, the landlords represented themselves. In the Rosemead deal, Mike Edmundson of Retail Net Lease Properties represented the landlord. In the Menifee deal, Weingarten Realty represented the building landlord.
According to Dollar Tree’s latest earnings report, president and CEO Bob Sasser said that Dollar Tree “achieved record sales and earnings and I am especially proud of the significant improvements in our operating margin and inventory productivity. Customers like our convenient locations, friendly shopping environment and exciting merchandise value.” He pointed out that in 2010, the company expects continued positive results “from our focus on merchandise productivity, keen management of supply chain and back office expenses and investment in initiatives and merchandise to thrill the customer. Dollar Tree is well positioned for continued growth.”
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
