CONSHOHOCKEN, PA – June 5, 2008 – Metro Commercial, the region’s largest full-service retail real estate firm, announced today that it has brokered a 10,000-square-foot lease for Deal$ at Grant Plaza in Northeast Philadelphia.
Metro Commercial’s Donna Drew represented Deal$ in the lease transaction. Deal$, a division of Dollar Tree, offers a wide assortment of quality general merchandise, contemporary seasonal goods and everyday consumables. Deal$ sells many items for $5 or less. The stores average 11,000 gross square feet and operate in 16 states. The new Grant Plaza Deal$ store, which is replacing an Eckerd Drugs, is expected to open later this year.
The deal comes shortly after Drew brokered Dollar Tree transactions in Eagleville, PA and New Britain, PA. Drew, who has represented Dollar Tree for the past 13 years, has negotiated all of their new leases and expansions throughout the Philadelphia market. The publicly-traded, 3,400 store retailer hopes to add 20 Dollar Tree stores in the area, plus 50 more for its Deal$ division.
“I think the new Deal$ store provides the company with a great branding opportunity as it continues to open stores throughout the region,” says Drew. “Northeast Philadelphia is in a very profitable market for Deal$ and we expect it is going to bring the national retailer even more exposure.” There are currently two Deal$ stores in the area including one in South Philadelphia and the other in Williamstown, NJ.
Grant Plaza is located on Grant Avenue and is ideally located less than a mile from two of the largest main transportation arteries on the East Coast, Roosevelt Boulevard (Route 1) and I-95.