This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Five Below Signs Lease For New Distribution Center In Southern US

To help fuel its rapid geographic expansion, specialty value retailer Five Below ( NASDAQ: FIVE) has signed the lease for a new distribution center in Olive Branch, Miss. The 600,000 square-foot facility, located at 9105 Hacks Cross Road, is Five Below’s second distribution center and will allow the company to more quickly and efficiently supply stores in the South and Midwest with its broad range of trend-right, high quality products all priced at $5 and below.

Five Below will move into the space in spring 2013. The property is owned by Hillwood Investment Properties, a Perot company, as part of a joint venture with Brookfield Real Estate Opportunity Fund II (Brookfield). The distribution center is expected to create 100 regional jobs in 2013 and as many as 300 new positions over the next two years.

“It’s an exciting time for Five Below, and we are quickly rolling out new stores in existing and new markets,” said Tom Vellios, CEO and co-founder of Five Below. “Our original distribution center in Newark, Del. has performed tremendously over the past six years, but as more stores opened and our geographic footprint expanded, we recognized the need for a second facility to support this growth. Olive Branch, Miss. is centrally located to help facilitate our future expansion.”

“I am pleased that Five Below looked to north Mississippi for its new distribution operations, and we welcome the company to our state,” Mississippi Governor Phil Bryant said. “The investment being made and the jobs being created in Olive Branch will have a positive impact on the region, and I wish the company many years of success here in Mississippi.”

Over the past three years, Five Below has opened nearly 150 new stores, more than doubling in size and greatly expanding its market presence. Today, the company has 245 locations across 18 states.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,982.59 +22.02 0.13%
S&P 500 1,978.91 +0.57 0.03%
NASDAQ 4,444.9090 -4.6550 -0.10%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs