Five Below has acquired zoning permits for the former site of a Rite Aid on South Broad Street in Southwest Center City, writes Ariana Perez-Castells for The Philadelphia Inquirer.
The former Rite Aid location was one of several closures that company has endured amid its bankruptcy.
This is just the latest chapter of the youth-oriented retail company’s expansion plans throughout the United States.
Last year, Five Below CEO Joel Anderson said the company planned to open 1,500 more store by 2030, including 200 stores that year.
Five Below has opened several stores in the region, including two in Center City on Chestnut Street and Market Street, respectively. Others are located on South Columbus Boulevard and the Aramingo Crossings shopping center.
Another location is set to open at the Philadelphia Premium Outlets this summer.
The new potential location is about 10,000 square feet and has a 26-car parking lot, according to Soloff Realty & Development, which has the property listed for leasing.
Read more about Five Below’s plans to open a new Philadelphia store at The Philadelphia Inquirer.
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