LONG TERM LEASE
- Five Below has signed a long term (10 year) lease at this location with a rent increase in year 6.
STRONG, GROWING TENANT
- Five Below (NASDAQ: FIVE) plans on opening 100-120 net new stores in 2020, despite the Covid-19 Pandemic –representing 11-13% growth overt 2019. Since 2002, Five Below has opened 950+ stores in 38 states. The company is continuing to focus on essential goods, consumables, and everyday household items.
PAD TO GRAND TRAVERSE MALL
- Five Below sits as a pad to the Grand Traverse Mall (290,000 SF), which anchors the entire retail corridor. Other surrounding retailers include: TJ Maxx, Best Buy, Home Depot, Walmart, Home Depot, PetSmart, Ulta, and HomeGoods.