Both companies are taking space that was formerly occupied byBradlees department store, which went bankrupt in 2000. The spacehas been vacant ever since the company closed all its stores in2001. The property, built in the 1950s, is currently receiving anumber of cosmetic improvements, including a new facade for thesection the new tenants will be in.

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Peebles has taken the largest lease; with 17,000 sf. Dollar Treewill occupy 10,000 sf. According to Randy Hope, an associate withMetro Commercial and the exclusive leasing agent for the site,rents at Ventnor Plaza are about $14 per sf for larger stores.

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Hope attributes both companies' interest in the area to theoverall demographics and a lack of competition nearby. The area,which is near Atlantic City, features dense residential and apopulation that nearly doubles from about 76,000 to 150,000 duringpeak seasons.

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Hope represented the Plaza's owners, Bellevue Properties VentnorPlaza LLC. Dollar Tree was represented by Metro Commercial's DonnaDrew, a leasing representative in the company's Conshohocken, PAoffice. Jerry Johnson, a broker with Fameco Real Estate in PlymouthMeeting, PA represented Peebles.

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