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SANTEE, CA-The former Pic-N-Save store chain has signed a six-year lease for 21,500 sf in the Santee Town Center.

Big Lots Stores Inc. signed the $1.03 million lease in the center located at 215 Town Center Drive. Big Lots operates more than 1,300 retail stores in 46 states. The closeout retailer has already moved into its new space.

Burnham Real Estate Services’ Pete Bethea and Robert Ippolito represented the building owner, Longs Drugs. John Beany of Katz & Associates represented Big Lots Stores Inc.

Columbus, Ohio-based Consolidated Stores Corp., owner of Pic ‘N’ Save and other closeout chains, announced earlier this year it had changed its company name to Big Lots Inc. as part of a larger initiative to broaden the appeal of closeout retailing.

As part of the initiative, all Consolidated Stores brands — including Odd Lots, Mac Frugal’s, and Pic ‘N’ Save — will be converted to Big Lots over the next two years.

The name change includes a $60 million investment by the company over the next two years into store improvements and increased marketing and advertising.

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