FOR IMMEDIATE RELEASE
June 11, 2018
CASTO ANNOUNCES FIVE BELOW TO JOIN PIER PARK NORTH®
Sarasota, FL – CASTO, one of the country’s leading real estate companies, recently announced that Five Below will be joining the lineup at Pier Park North® in Panama City Beach (PCB), Florida. This will be the first Five Below to open in Panama City. The addition of the new store will bring the 324,000 square foot development close to full occupancy with only a few storefronts available.
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. Five Below offers a dynamic, edited assortment of exciting products in a fun and differentiated store environment, all priced at $5 and below.
“We are excited to welcome Five Below to Pier Park North and mark their 47th store in Florida. They will be a great addition to our project and the community,” said John Hutchens, Asset Manager at CASTO.
Five Below will occupy 10,034 square feet next to World Market. The grand opening for the Pier Park North® Five Below store is Friday, June 15, 2018 at 9am. The store will operate Monday through Saturday 9am to 9pm, Sunday 10am to 7pm.
“We have a very specialized and talented Real Estate team that identifies the best locations for our stores. We target areas that meet our demographic and ensures success,” said Zach Minteer, Vice President of Real Estate for Five Below.
Pier Park North® is a joint venture project with CASTO, based in Columbus, Ohio, and The St. Joe Company. Located on busy US-98 between Destin and Panama City, this project has great access and visibility as well as proximity to numerous tourist attractions and the new Northwest Florida Beaches International Airport. Key tenants include category-leading retailers Dick’s Sporting Goods, Ulta, Bed Bath & Beyond, Michaels, PetSmart and The Fresh Market, among others. There is additional retail space available at Pier Park North ranging from 1,100 – 10,000 square feet. For more information, please contact Thomas. Watson@cbre.com or by phone at (850) 527-3524. For information and updates on Pier Park North, please visit PierParkNorth.com
For more information on Five Below and its newest store, visit www.fivebelow.com.
About Five Below
Five Below was founded by David Schlessinger, creator and founder of Encore Books and Zany Brainy along with Tom Vellios, former CEO of Zany Brainy. Five Below is one of the fastest growing retailers in the country with more that 660 stores in 32 states. Five Below anticipates cutting the ribbon on
approximately 125 new stores in 2018. Five Below offers a dynamic, edited assortment of exciting products in a fun and differentiated store environment, all priced at $5 and below.
CASTO, a fully integrated real estate organization since 1926, is a recognized leader in the ownership, management, acquisition and development of commercial shopping centers and multi-family residences and office buildings. CASTO’s growing portfolio currently includes over 23 million square feet of commercial property and nearly 4,000 residential units located primarily throughout the midwestern and southeastern United States. CASTO is headquartered in Columbus, Ohio and serves a variety of clients from five offices in Florida, North Carolina and Ohio. To learn more about CASTO, visit www.castoinfo.com.