A new Five Below store is planned for Deptford NJ in The Court at Deptford on Almonesson Road.
Deptford already has a Five Below in the extended Mall area but indications are both stores will remain open.
The Court at Deptford shopping center is the one known for Olive Garden, Red Lobster, Hobby Lobby and Burlington.
The shopping center was recently sold (LBX Investments), and the news of the Five Below signing comes from a video presentation the new ownership conducted regarding their purchased of the shopping center.
Currently the online marketing lease documents for the The Court at Deptford shows the space as “In Lease” but does not show Five Below on the site plan.
Additionally, I’ve learned from other sources that the existing Five Below location in the Deptford Landing shopping center on Clements Bridge Road is planned to remain open.
While the current store in the Sam’s Club center is closer to Route 42, and the new store be would near the Route 55 exit… measuring in a straight line between the two they would only be about 1.2 miles apart.
Five Below – The Court At Deptford
The new Five Below location will be in the back section of the Almonesson Road shopping center, directly next to Shoe Carnival.
Ross Dress For Less would be positioned on the other side of Five Below, but the Ross store sits much further forward from where the new Five Below would be located.
The unit for the new store sits at that inside corner formed with the Ross store. I can’t recall what the last business was that operated in that spot.
Overall, the shopping center has had an amazing rebirth at the hands of former owner DLC Management, who turned a struggling and underperforming shopping center into a retail powerhouse.
When purchased in 2014 the center had a 34% occupancy rate. Today that number is closer to the 90s!
And Five Below should make a nice new addition to the current mix of stores.
Current stores such as Hobby Lobby, Kirkland’s, Party City, Ross and Burlington share a lot of commonalities in their shopper demographics with Five Below, which should offer many positive crossover sales as customers visit multiple stores in one trip.
At this point I don’t have details on the timing of this new store opening comma and i would just assume that they would hope to have it open ahead of the next christmas holiday season
Five Below – Philadelphia Based and Fast Growing
If you are unfamiliar with Five Below, the bright and fun store features a broad array of products economically priced, with most items between $1 and $5.
The stores are mostly targeted at a younger audience but there really is something for everyone in the family at a 5 Below store, from candy, to toys and party items, and even things to decorate your house. They even have a tech section guests with items under $5!
Recently they introduced the “5 Beyond” section which features items priced over $5 but still at a great value.
The Philadelphia based retailer has over 1,200 store locations and sales of over $2 Billion… and they are looking to aggressively triple (or more) the number of locations in a few short years.
Earlier this month a new store opened in West Berlin NJ, and last summer a new location opened in Glassboro.
Links and Locations
Five Below (Planned)
Court At Deptford
1500 Almonesson Road
Deptford NJ 08096