GENESEO – Behind the tarp in the Genesee Valley Plaza of Lakeville Road a new Five Below store is taking shape.
“We are under construction on the build out now. It is about 10,000 square feet,” said Associate Real Estate Broker Scott Burdett.
Five Below is a specialty discount store that sells products that cost up to $5, plus a small assortment of products from $6 to $10. The company, which is headquartered in Philadelphia, Pa., has about 1,000 stores across the United States, including in Batavia’s Town Center on Veterans Memorial Drive.
“We are combining several store fronts to get to that square footage. It is a fairly typical size for Five Below,” said Burdett.
The average Five Below store size is 8,000 square feet. The one in Geneseo will not only be a little bit larger but also help to fill some empty spaces in the plaza.
“Three store fronts are being used and it will be a half way decent Five Below store,” said Town of Geneseo Code Enforcement Officer Shawn Grasby.
Burdett said the store will fill a significant vacancy in the plaza, leaving only one or two spaces vacant.
The new Five Below store will be near TJ Maxx. Burdett said that was a major reason why the retail store even considered Geneseo for this space.
“We brought TJ Maxx to the shopping center a little over a year ago and they have been tremendously successful. That was certainly an important consideration for getting Five Below interested in coming into the center,” said Burdett.
Another reason why some consider Five Below is a good fit, is the college population.
“They are a growing retailer. They bring good traffic to the shopping center,” Burdett said. “They are a discount retailer, so I think they cater to a conscience. I think that certainly includes college kids.”
It is not known how many jobs the new store will bring into the area. In a statement to The Livingston County News, Five Below would only say that it planned to open sometime this spring.
April 2021 is the target date, according to the statement from the Five Below Public Relations Team.
Despite being located close to other discount stores in the Plaza such as Dollar Tree, Burdett said he does not think it will impact either company’s bottom line.
“They co-exist in hundreds of centers across the county. I do not think there will be any issues and they will both benefit from each other,” said Burdett.
It will be the first Five Below store to open in Livingston County. With the stores development, Burdett said he is hoping other retails will consider moving into the area.
“I think if they are successful in Geneseo, it will continue to reinforce this as a strong retail market,” Burdett said. “I think success breeds success.”
Helping to not only breath new life into the plaza but give people across Livingston County one more place to shop.
“Five Below is going to fill a signifigant vacancy in the plaza and it will be leave us with only one or two spaces that are vacant,” said Burdett.