California Centers

SEP 2018

California Centers Magazine serves retailers, developers, shopping center owners, investment sales brokers and tenant representation firms throughout the state of California.

Issue link: https://californiacenters.epubxp.com/i/1029437

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8 California Centers Magazine | September 2018 C C al goods available in August, for in- stance, were $5 ripcord and webbing backpacks, NBA Spalding basketballs, $5 stereo headphones, fitness balls and yoga mats, $5 icon printed throw blan- kets, and ladies slide sandals adorned with chain detailing. Five Below is proud to support its loyal customer base by giving back to the community in many ways. Most notably, the stores have raised money for charities whose mission is focused on kids. In May, Five Below had a fo- cus on Alex's Lemonade Stand Foun- dation. If customers purchased a $1 pin-up in store (excluding locations in California), 100 percent of the proceeds went directly to the foundation's fight against childhood cancer. The cam- paign raised over $1 million in funds for the cause in 2017 (with proceeds amounting to over $3 million for the past nine years). The chain also sup- ports the efforts of St. Jude Children's Research Hospital, and partners with local non-profits in similar fundrais- ing programs. The corporate real estate team at Five Below is always looking for the next ideal place to open up a new location. Its initial real estate requirement calls for a space of 8,000 to 10,000 square feet having a minimum frontage of 55 feet. The Philadelphia-based retailer (publicly traded on NASDAQ under the ticker symbol FIVE) launched a push in Southern California in early 2017, and has not ceased in finding new markets to inhabit (currently there are 20-plus Five Below stores in the state). Among areas that have been targeted for new Five Below sites have been Orange County, Los An- geles County, Riverside County and Ventura County. The most recent Cali- fornia openings have been in the cities of Alhambra, Anaheim, Buena Park, Downey, Glendale, Lake Elsinore, La Verne, Montclair, Oceanside, Oxnard, Palmdale, Porter Ranch, and Rialto. It is not uncommon for the company to debut 10 stores in the same week in a newly developed region. Five Below is a rapidly expanding specialty value retailer offering a broad range of trend-conscious, high-quality items aimed at the moods and desires of the teen and pre-teen customer and beyond. Its carefully edited as- sortment of products, presented in a dynamic, differentiated store format, makes it a standout in the value priced variety merchandise category. Stated President and CEO Joel Anderson, upon the release of the company's first quarter financial results, "We are very pleased with the strong start to fiscal 2018, as we delivered both sales and earnings above our guidance ranges. Our consistent performance contin- ues to reinforce our confidence in the 2,500-plus nationwide store opportu- nity we see for Five Below." CC Real estate inquiries and site submittals can be directed to: Real_Estate@fivebelow. com or contact Five Below, Inc. (215) 207- 2658. Thank you to Shea Properties & Regency Centers for thinking outside the box, hiring restaurant specialists to source & merchandise food and beverage for their San Diego projects!

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