Tag Archives: Dollar Tree

Main, SRS, WEB

Dollar Tree signs lease in Mesa

SRS announced that Dollar Tree has leased a 9,306 SF space at the northeast corner of Main Street and Greenfield Road in Mesa, Ariz.  Dollar Tree joins Papa John’s Pizza as a tenant in the Fry’s anchored shopping center.  The Dollar Tree space was formerly occupied by Papa John’s Pizza; SRS negotiated the relocation and renewal of Papa John’s within the project to accommodate Dollar Tree’s space requirements.  The Dollar Tree is expected to open in the fourth quarter of 2014.

Kurt Kalocin with SRS represented the tenant, Dollar Tree, in the transaction.

Anthem Eastside Shops

Dollar Tree Opens Anthem Location

Velocity Retail Group, LLC announces that Dollar Tree has finalized a seven-year lease for a 9,145 SF store at Anthem Eastside Shops at the NWC of Anthem Way and Venture Drive. Larry Miller and John Jackson of Velocity Retail Group represented the Landlord, DPC Development Company in the transaction. The tenant was represented by Kurt Kalocin of SRS Real Estate Partners. The store is planning on opening September 1, 2014.

 

“Dollar Tree has been seeking a site in the Anthem trade area for some time,” said Miller. “Finding suitable real estate to accommodate their size has been the challenge. Our Landlord was able to relocate an existing tenant in order to create the space for Dollar Tree,” he added.

 

“By working through our brokerage team at Velocity Retail we were able to creatively find a solution that works for Dollar Tree and our ownership group. This new tenant brings our center to almost full occupancy,” said Justin Lutgen, Acquisition Manager for DPC Development. “Dollar Tree will be a great asset to the residents of Anthem for their daily shopping needs,” he added.

 

Dollar Tree is a discount variety store that sells items for $1. The company is headquartered in Chesapeake, Virginia and operates over 4,900 stores in the United States and Canada.

Dollar Tree, SRS

Dollar Tree Continues Aggressive Expansion in Arizona

SRS Real Estate Partners announced Tuesday that Dollar Tree has signed three new leases and is looking for more sites throughout Arizona. Dollar Tree is an actively expanding customer-oriented, value-driven variety store operating at a one dollar price point. Dollar Tree’s first new location is a 10,865 SF space at Squaw Peak Plaza located at the NEC of Thomas Road and State Route 51 in Phoenix. Other tenants include; Steven’s Shoes and Douglas Barber Shop. Dollar Tree plans to open in early 2014.

The second new location for the discount store is an 8,512 SF space in Harrison Plaza located at the northwest corner of Golf Links Road and Harrison Road in Tucson. Tenants in the center include; Big Lots, O’Reilly Auto Parts, and Losbetos Mexican Restaurant. Dollar Tree plans to open in early 2014.

Dollar Tree’s third new location is an 8,000 SF space at Gilbert Gateway Towne Center located at the southwest corner of the San Tan Freeway and Power Road in Gilbert. The Target anchored shopping center includes; Michael’s, Ross, Chase, Petsmart and Sweet Tomatoes. Dollar Tree plans to open in early 2014.

Kurt Kalocin with SRS Real Estate Partners represented the tenant, Dollar Tree in the three transactions. Brian Woods and Tom Woods with Collier’s International represented the Landlord, Vestar, in the Gilbert Gateway Towne Center transaction. Regan Amato and Tyler Chester with Phoenix Commercial Advisors represented the landlord, Kornwasser Shopping Centers, in the Squaw Peak Plaza transaction.

Dollar Tree

SRS Real Estate Partners Brings Dollar Tree to San Tan Gateway

SRS Real Estate Partners is pleased to announce that Dollar Tree has leased a 12,100-square-foot space in the San Tan Gateway North Shopping Center located at the northeast corner of Loop 202 and Arizona Avenue in Chandler, Ariz.  The Dollar Tree is now open, other tenants in the project include Walmart, Anna’s Linens, Goodwill, and 24 Hour Fitness.

Kurt Kalocin with SRS Real Estate Partners represented the tenant, Dollar Tree, in the transaction.

Vestar

Vestar Property Manager At Christown Spectrum Mall

Vestar, a prominent leader in commercial management, was selected as property manager at Christown Spectrum Mall in Phoenix.

“In today’s challenging retail market, owners understand that an experienced property manager is necessary for the success of a center,” says Pat McGinley, Vestar Vice President of Property Management.

Christown Spectrum Mall, formerly known as Phoenix Spectrum Mall, is a 1.14 MSF shopping center that caters to a diverse demographic. The change in management is not the only recent change; the exterior has been redesigned and developed to improve the overall environment of the property, according to Vestar officials.

Christown was Arizona’s first air-conditioned, enclosed mall and today it houses popular stores such as Walmart Supercenter, Walgreens, Ross Dress for Less, Costco Wholesale, Claire’s Boutique, and Dollar Tree. The mall also features other smaller specialty retail stores.

While Vestar continues to manage its various properties, it has begun examining and evaluating plans for Christown to specifically help increase mall traffic and tenant sales, Vestar says.

To increase the synergy from all of the tenants, the company plans to use its years of experience and the lessons it has learned to creatively think about every area of potential improvement.

The mall features seven anchor stores. Officials say in the current economic climate, having successful anchor stores is vital to the survival of a mall. In the past decade, several anchor stores began to close and put Christown in a difficult position. However, with the new redesign and change in management of the mall, the future will continue to look positive, officials predict.

A challenge that Vestar faces with Christown is the disparity of traffic throughout the different sections of the mall.

“We want to find new ways to drive traffic from one portion of the mall to another and create an environment where the whole is greater than the sum of the parts,” McGinley says.” One of Vestar’s core values includes innovation, which to Vestar, means, “tak(ing) lessons of today to create the projects of tomorrow” and the “innovation comes from (their) constant search for better results.”

Vestar is in the “process of evaluating each aspect of their operation to determine how best to improve the leasing, management and marketing functions,” McGinley says. He adds that tenants have been very responsive to the change in management and with the changes that Vestar is planning on making.

Founded in 1977, Vestar operates properties in Arizona, southern California, and now Nevada. Vestar oversees more than 45 properties which include Tempe Market Place, Desert Ridge Market Place, and Ahwatukee Foothills Towne Center in Arizona.

For more about Christown Spectrum Mall, visit christownspectrum.com; or, for more information about Vestar, visit vestar.com.