ST. LOUIS COUNTY, Mo. — Despite the pandemic, one national retailer is making plans to expand in St. Louis.
Dollar Tree (NASDAQ: DLTR), which has more than 60 locations throughout the region, has signed a long-term lease for roughly 11,000 square feet at Village Square in Hazelwood, the once-defunct shopping center that New York-based Somera Road Inc. bought in late 2018. Terms of the Dollar Tree lease were not disclosed, but the retailer is expected to open this summer.
"Dollar Tree is a recession proof business. Their low price point attracts a variety of shoppers, and they are positioned to excel in both good and challenging economic times," said Michael Ervolina, senior associate at Somera Road.
In addition to Dollar Tree, Axes Physical Therapy and civil construction firm Millstone Weber, which is working on the Interstate 270 project, also signed new leases at Village Square. Concentra urgent care also signed a long-term extension of its lease at Village Square. The leases follow the more than $1 million Somera Road has invested in facade improvements to the property at Lindbergh Boulevard and Interstate 270.
Ian Silberman of Location CRE and Rob Goltermann of DCM Group represented Somera Road in the leases.
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