ARLINGTON, TX-Dollar Tree has nailed down two more locations in an ongoing hunt for space in Dallas/Fort Worth. The large-format stores are grounded to five-year leases for second-generation retail space.
The Chesapeake, VA-based Dollar Tree has tapped 15,000 sf at 2540 E. Pioneer Pkwy. in Arlington and 18,874 sf at 2506 Belt Line Rd. in nearby Grand Prairie. The chain, with more than 50 stores in the metroplex, is sticking to its plan to open 15 to 20 locations per year, Jim Weir with Woodmont Co. tells GlobeSt.com. And, he says, another three will be signed within a month. The chain operates 2,400 stores in 47 states.
In Arlington, Dollar Tree will share a 112,134-sf former Kmart with Floor and Decor Outlets of America Inc. of Atlanta, Weir says. Doors are scheduled to open in September. Second-generation retail space at the Pioneer Parkway and US Highway 360 intersection runs from $7 per sf to $12 per sf.
Besides Weir, Dollar Tree's local team includes Woodmont's Jennifer Frank. The Bruder Co., which owns the now fully leased building, had Howard Beckerman and Ken Bruder negotiating the deal.
Finish-out is underway for the 18,874-sf store in Grand Prairie, where Dollar Tree will be the first backfill for a 53,584-sf store emptied by Albertsons, according to Weir. The calendar is penciled for an April opening. Second-generation space in that area is going for $5 per sf to $8 per sf.
"It's a pocket where Dollar Tree doesn't have a store," Weir says, adding the criteria is a four-mile distance between locations. Kin Properties of Boca Raton, FL owns the building, which sits at a prime intersection flanked by residential product.
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