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- September 13, 2018
- Deals, Our Company, Retail Real Estate
A store that’s hot in the market for selling “hot,’’ trendy products for $5 or less to teens and tweens is coming to Bartlett.
Five Below has signed a lease for 8,680 square feet in Bartlett Towne Center at the southeast corner of Stage and Bartlett Boulevard, according to the Memphis office of The Shopping Center Group.
The site will become the fifth Five Below store in the Memphis area; others already operate in, or are coming to, Millington, Olive Branch, the Wolfchase area and Germantown’s Village Square center.
Robert Sloan and Dustin Jones, leasing advisers with The Shopping Center Group, represented landlord Branch Properties LLC, which bought Bartlett Towne Center in summer 2017. Danny Buring, also of The Shopping Center Group, represented Five Below.
Five Below sells off-price merchandise tailored to young people. For example, the items currently featured on its website include yoga/fitness gear, “hot’’ toys, and products with team logos, all for $5 or less.
The fast-growing chain now has nearly 700 stores in about 35 states. Five Below reported its second-quarter earnings earlier this month, including a 22.7 percent increase in net sales and 2.7 percent rise in same-store sales compared to a year ago.
In Bartlett, Five Below is filling space previously inhabited by Lifeway Christian Store. Five Below joins other tenants that include Kroger, Petco, O’Charley’s, Shoe Carnival, Dollar Tree and AT&T in the 192,624-square-foot shopping center.
The only space still available to lease in Bartlett Towne Center is 1,260 square feet where a restaurant once operated.
“With Five Below’s addition, the center is almost 100 percent leased, which is a testament to Bartlett, the shopping center and the great work (The Shopping Center Group) has done in helping lease the center,’’ Brett Horowitz, Branch Property’s vice president of asset management, said in a press release.
Original article appeared here.