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SAN DIEGO, CA-The discount merchandise store known as Everything $5 has sewn up a five-year lease for retail space in San Diego.

The retailer, which moved into its new space earlier this month, is currently occupying 9,840 sf at 6091 University Ave. in San Diego. Both Everything $5 and the lessor, Winkel Holdings LLC, were represented by Robert Ippolito and Pete Bethea of Burnham Real Estate Services ONCOR International. The transaction is valued at $507,350.

Everything $5 is just one of a vast number of retailers to take space in San Diego County this year, as the region’s retail market is currently one of the strongest in the nation. According to a recent report by Marcus & Millichap Real Estate Investment Brokerage Co., shopping centers here “are boasting some of the lowest vacancy rates in the country.” And with positive net absorption continuing throughout the year, the San Diego retail market is expected to wind down 2002 with an average vacancy rate of 4.9% – a figure that is actually slightly higher than year-end 2001.

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