Progressive Real Estate Partners, an Inland Empire retail brokerage firm, announced recently that it has executed a lease with Dollar Tree for a 12,430 square-foot space at 14574 Baseline Avenue in northwestern Fontana.
The store will be located in the well-established Morningside Marketplace shopping center.
Dollar Tree will occupy a portion of the former Ralphs Grocery store which closed in early 2013. Chuze Fitness (previously announced) will occupy the balance of the Ralphs space. Both are expected to open by mid-2020, making it the first time in seven years that the neighborhood center will have an anchor presence.
Progressive Real Estate Partners’ VP of Retail Leasing and Sales Paul Su exclusively marketed the property and represented the lessor. Lee Clay Park of Edge Realty represented Dollar Tree.
Dollar Tree is a well-known leading operator of discount variety stores, offering a constantly changing assortment of merchandise including housewares, cleaning supplies, seasonal décor, party items, toys, gifts, craft supplies and food, all at a price point of $1 (or less). The company has more than 15,000 stores and operates under the brands of Dollar Tree, Family Dollar and Dollar Tree Canada.
The 90,000 square-foot Morningside Marketplace is situated at a busy four-way signalized intersection with visibility on both Baseline and Cherry avenues with a combined average daily traffic count of over 50,000 cars, Su said.
In spite of not having the benefit of an anchor tenant for an extended period of time, the shop and pad space is almost 100 percent leased to a variety of food and service users, including Chase Bank, Great Clips, Chevron, KFC, Pizza Hut, Baskin Robbins and Wienerschnitzel.
The center also enjoys strong demographics of more than 253,000 residents with an average household income of more than $85,422 within a five-mile radius, Su said.
“We’re excited to welcome Dollar Tree to the center. Today’s value minded customer appreciates the wide assortment of every day merchandise available at the store, making it a perfect addition to the retail mix at Morningside Marketplace,” Su said. “Furthermore, the community has waited a long time for the former Ralphs store to be leased and we couldn’t be more pleased that both Dollar Tree and Chuze Fitness recognized the strength of the center and will be opening soon. It’s also good news for the other shopping center retailers to finally have new anchor tenants which will help drive more traffic and sales to the property."