|
$1 store to add to Square |
|
|
|
Friday, 30 January 2009 |
By MIKE BURKHOLDER
Managing Editor
ST. MARYS — Developers with a local shopping center say the addition of a nationally known store will make a perfect addition to St. Marys.
A new Dollar Tree store is slated to open in the coming weeks at the St. Marys Square. The shop, where all items are $1, will fill a void in the center.
“We are absolutely thrilled,” Midland Atlantic associate Chris Palermo told The Evening Leader. “They are a strong national tenant who is rapidly expanding.”
The lease, signed earlier this week, commits Dollar Tree to 8,000 square feet in the St. Marys Square. Palermo said the company appears to be capitalizing on the sagging national economy.
“They are taking advantage of this economic climate,” Palermo said. “We are pleased to have them fill a vacancy at the St. Marys Square. We feel the shopping center is located in a great town and a great region.”
The store will fill the vacancy left by Fashion Bug, Palermo said. Dollar Tree also comes on the heels of Claire’s closing.
“Those were corporate decisions,” Palermo said. “We are glad Dollar Tree realized what a great market it is here and we look forward to them opening.”
The addition of Dollar Tree leaves five vacancies at the shopping center. Palermo said he, along with other officials with Midland Atlantic, are aggressively marketing the facility.
“It is a tough time for retailers,” Palermo said. “We are still receiving interest from potential tenants and will continue to pursue leases.”
One vacancy Palermo said he is excited about marketing is the former muffler shop that sits near Indiana Avenue. The 4,500 square foot facility could get a facelift if tenants are found, Palermo said.
“We can divide it up into smaller spaces,” Palermo said. “We are pursuing tenants and as soon as we get more interest, we will redo the facade and awning and it will be a small shop out-parcel building.”
St. Marys Industrial and Community Development Manager Todd Fleagle called the addition of Dollar Tree a win for the area. Fleagle said he believes the store will thrive given its price point.
“I think it will be good for the center,” Fleagle said. “They have worked hard and diligently to fill the space. With today’s economy, you see more people doing toward (dollar stores) and I think they will be successful.”
Palermo said a “loose timeline” has the store opening in approximately six weeks. |
|
Last Updated ( Wednesday, 04 February 2009 )
|
