AP NEWS

Five Below to Open at The Shoppes at Parma

January 28, 2019

PARMA, Ohio--(BUSINESS WIRE)--Jan 28, 2019--PREP Property Group is excited to announce that Philadelphia-based retail brand Five Below is the latest retailer to join The Shoppes at Parma. The 9,125-square-foot store will be located west of JCPenney facing the West Ridgewood Drive entrance. The new Five Below is anticipated to open in the spring of 2019.

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“We are excited to announce the addition of Five Below to The Shoppes at Parma redevelopment,” said Michelle Devlin, General Manager – The Shoppes at Parma. “This fast-growing chain will offer a variety of merchandise at an affordable value.”

Five Below joins a line-up of family-friendly retailers at The Shoppes at Parma including Old Navy, A.C. Moore Arts & Crafts, Chuck E. Cheese’s and Burlington (also scheduled to open in spring 2019).

About Five Below

Five Below is a rapidly growing specialty value retailer offering a broad range of trend-right, high-quality merchandise targeted at the teen and pre-teen customer. With more than 700 stores, Five Below offers a dynamic, edited assortment of exciting products in a fun and differentiated store environment, all priced at $5 and below. Select brands and licensed merchandise fall into the Five Below special worlds: Style, Room, Play, Tech, Create, Party, Candy and Now. For more information visit  www.fivebelow.com.

About The Shoppes at Parma

The Shoppes at Parma is nearing completion of an exciting transformation through its multi-phase redevelopment. The 750,000+ square-foot open air center is anchored by JCPenney, Dick’s Sporting Goods, Walmart Supercenter and Marc’s grocery store and features specialty retailers, services and a wide variety of dining options. The Shoppes at Parma is located just eight miles southwest of downtown Cleveland at the intersection of Ridge Road and West Ridgewood Drive. For more information, visit www.ShoppesatParmaOH.com.

About PREP Property Group (PREP)

PREP Property Group is a vertically-integrated real estate company built on the foundation of key divisions of Phillips Edison & Company. PREP is focused on repositioning and remerchandising lifestyle centers, power centers and enclosed malls that are undermanaged, capital-starved, poorly merchandised and/or distressed through its Strategic Investment division. The company also acquires well-located, triple-net lease retail properties from non-institutional sellers and creates value through lease term restructure or extension.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190128005475/en/

CONTACT: Betty Weibel, Yopko Penhallurick

440-543-8615,bw@yp-pr.com

KEYWORD: UNITED STATES NORTH AMERICA OHIO PENNSYLVANIA UTAH

INDUSTRY KEYWORD: DISCOUNT/VARIETY RESTAURANT/BAR TEENS RETAIL SPECIALTY CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE OTHER RETAIL CONSUMER FAMILY

SOURCE: PREP Property Group

Copyright Business Wire 2019.

PUB: 01/28/2019 11:12 AM/DISC: 01/28/2019 11:12 AM

http://www.businesswire.com/news/home/20190128005475/en

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