Discount Retailer Backfills Half of Former Bed Bath & Beyond Space
Discount variety store chain Dollar Tree is continuing its regional expansion with a new location at Aldrich Plaza in Howell. Commercial real estate services firm Levin Management Corporation (LMC) secured the 15,000-square- foot commitment as the property’s exclusive leasing and managing agent.
Dollar Tree will fill half of a former Bed, Bath & Beyond space at Aldrich Plaza, a 128,000-square-foot community shopping center located on heavily travelled Route 9 in Monmouth County. LMC Senior Leasing Representative E.J. Moawad arranged the transaction on behalf of the landlord; Danielle Brunelli of R.J. Brunelli & Co. represented the tenant.
“Discount retail is among the industry’s strongest sub-sectors today,” said Moawad. “By diversifying its product offerings over the past several years, Dollar Tree is solidifying its position as a shopping destination for price-conscious consumers.” In fact, Dollar Tree stores have seen a 14.0% increase in visits from January 2020 to January 2024, according to real-time data from Placer.ai.
Dollar Tree carries a broad mix of consumable, variety and seasonal merchandise that includes many trusted national and regional brands. Stores are known for their “thrill-of- the-hunt” shopping experience where customers can discover new items every week, from everyday essentials to craft, seasonal and party merchandise.
Moawad noted that Dollar Tree is actively expanding its footprint in high-quality, convenient locations, and Aldrich Plaza proved a perfect fit. Anchored by Walgreens, Aldrich Plaza is home to Retro Fitness, My Salon Suite, Norman’s Hallmark, Salon Centric, AT&T, Nothing Bundt Cakes (opening soon), Big City Bagels & Salads, and Bubbakoo’s Burritos. A host of neighborhood conveniences – such as a dentist, pizzeria, Chinese restaurant, optician, liquor store, karate studio, coffee and ice cream shops, and a dry cleaner, among others – round out the tenant mix.
Aldrich Plaza serves a residential population of more than 143,000 people within a five- mile radius. With 39,000 vehicles passing the property daily, Aldrich Plaza draws 1.4 million visits per year, according to Placer.ai.
LMC currently is marketing the 15,400-square-foot balance of the former Bed, Bath & Beyond space at Aldrich Plaza, as well as two additional inline units of 3,200 and 1,900 square feet.
