Dollar Tree Leases 63,000 SF at Six Locations

Burns says that Dollar Tree is "bullish" on the Southern California market. "We are aggressively looking throughout Southern California for new store locations on behalf of Dollar Tree," he says.

The Dollar Tree expansion comes as the Chesapeake, VA-based publicly held chain, which operates about 4,000 stores, finds its $1-and-less pricing very popular in the sluggish economy. In its latest quarterly financial report, Dollar Tree said that, "With the pressures of the current economic environment, we have seen increases in the demand for basic, consumable products." The chain has responded by changing the general mix of its stores, resulting in higher sales.

"We have shifted the mix of inventory carried in our stores to more consumer product merchandise, which we believe increases the traffic in our stores and has helped to increase our sales even during the current economic downturn," Dollar Tree says in its quarterly filing. It said that comparable store net sales increased in the latest reporting period, primarily due to that increased traffic.

The six new Dollar Tree leases in Southern California are for 11,250 square feet at Plaza Las Glorias at 1155 Mt. Vernon in Colton; 11,250 square feet at Telephone Road Plaza at 4738 Telephone Rd. in Ventura; 11,213 square feet at Signal Hill Gateway at Atlantic Avenue and East Spring Street in Signal Hill; 10,017 square feet at Palm Plaza at 26455 Ynez Rd. in Temecula; 9,600 square feet at Gateway Plaza at 1642 Puente Ave. in Baldwin Park and 9,350 square feet at Goldenwest McFadden Plaza located at 15412 Goldenwest St. in Westminster.

Burns partnered with Studley Retail Services in representing Dollar Tree on all of the deals, including Lea Clay on the Colton and Temecula deals, John Beaney on the Signal Hill deal and Paul Bartlett in the Westminster lease. In the Colton deal, the landlord was self-represented; in the Ventura lease, Rob Devericks of Hagelis Group represented the building landlord. In Signal Hill the landlord was represented by Mike Jensen of Pacific Retail Partners, and in Temecula the building ownership represented itself. The landlord was represented by Jesse Paster of NAI Capital in Baldwin Park and by Tipton Wright of Marketing Brokers in the Westminster lease.