December 16, 2024

Specialty Value Retailer Five Below Chooses North Plaza Shopping Center In Parkville For 7th Baltimore County Location

Also Covered By

BALTIMORE, MD (December 16, 2024) – Specialty value retailer Five Below, Inc. (FIVE: NASDAQ) has selected North Plaza Shopping Center in Parkville, Maryland as the site for its seventh location in the greater Baltimore County region. The Philadelphia, Pennsylvania-based company, which operates more than 1,600 stores across 43 states, has signed a lease with Continental Realty Corporation (CRC) for 12,000 square feet of space in the 340,000 square foot retail center located at 8980 Waltham Woods Road. Five Below intends open in the space formerly occupied by Gabe’s Stores next year. Cherene Keenan of Continental Realty Corporation represented the landlord and Andrew Feldman of KLNB Retail represented the tenant in this transaction.

Five Below is a high-growth value retailer offering trend-right, high-quality products targeting tweens, teens and beyond. Most items are priced between $1 and $5 across eight categories: style, room, sports, tech, create, party, candy and new & now. The company opened more than 60 new stores last quarter, an increase of more than 17 percent from the year before.

North Plaza Shopping Center is positioned near the intersection of Perring Parkway and E. Joppa Road and is adjacent to an exit off Interstate 695 (Baltimore Beltway). Anchored by Safeway, Ross Dress for Less, and Floor & Decor, the project features more than 30 tenants comprised of national, regional, and locally-owned retailers, restaurants, and service providers. Other representative tenants include Harbor Freight Tools, The Y in Central Maryland, Chuck E. Cheese, Five Guys Burgers & Fries, Wockenfuss Candies, Sherwin-Williams, and Sally Beauty Supply. More than 102,000 consumers reside within a three-mile radius of the center, including more than 43,000 households with an average household income exceeding $93,000.

“Value-oriented retailers appeal to a broad demographic, and Five Below is no exception,” stated Kristina O’Keefe, CRC’s Vice President, Commercial Division. “As a respected national brand with a strong following and ambitious growth plans, they are a welcome addition to North Plaza. Their presence as a high-traffic anchor tenant will draw customers from a wide area, energizing the center and providing yet another reason to visit and linger.”

Headquartered in Baltimore, Maryland and founded in 1960, Continental Realty Corporation is a full-service commercial real estate and investment company focused on acquiring and operating retail and multifamily properties. The privately held firm owns and manages a diversified portfolio of retail centers consisting of nearly eight million square feet of commercial space and more than 10,000 apartment homes across 12 states, with a portfolio value exceeding $4 billion. For additional information, visit www.crcrealty.com.