Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)
Issue link: https://sct.epubxp.com/i/231459
consumables and furniture. Ollie's has 21 different departments with books, housewares, domestics and floor covering, representing the four largest categories. "They carry all different types of product lines, and I think that helps to draw people, because there is something in their store for everyone," said James Stevenson, director of leasing at WP Realty, in Bryn Mawr, Pa. Ollie's opened a 36,000-squarefoot store at WP Realty's Boardman Plaza, in Youngstown, Ohio, in October. "They are a type of tenant that we didn't have in the center, and they really help to round out the existing tenant lineup," said Stevenson. The chain operates in 14 states, with the largest of which are North Carolina, Ohio and Pennsylvania. Going forward the expansion strategy Ollie's benefited tremendously from the economic downturn. Shoppers that had never shopped Ollie's before were willing to do so now. will focus on contiguous geographic growth. In particular, the growth has been accelerating in the South. Ollie's is negotiating to open a distribution center in Georgia. This will open up the entire Southeast corridor. The retailer is entering both Georgia and Alabama with new stores this year. Typically, Ollie's targets a warehouse-type format measuring roughly 30,000 to 35,000 square feet at neighborhood shopping centers. "We love to be next to high-traffic grocery-type retail that brings traffic each and every day," said Butler. Generally, the retailer occupies 'B' and 'C' shopping centers, where rent is more affordable. The town should ideally be home to a population of at least 50,000 within 10 miles. Ollie's benefited tremendously from the economic downturn in 2007, 2008 and 2009. Shoppers that had never shopped Ollie's before were willing to do so now, notes Butler. Those customers discovered that they could find good deals on such quality brands as Black & Decker, Rubbermaid and Sunbeam. "I have been saying for years that Americans always love a bargain," said Butler. "Now they need a bargain, and we're certainly proof of that." Butler founded the business with partners Mort Bernstein, Harry Coverman and Oliver (Ollie) Rosenberg. Butler credits Bernstein for the original idea. Bernstein hailed from the Boston area, where the bargain business was both popular and prevalent. Even though Bernstein was the catalyst to launching the business, Ollie Rosenberg landed naming rights because he signed the first note at the bank. Also, the real Ollie looks like the mustachioed character the company created for its ads and promotions. "It's a great name," boasted Butler, "and it has resonated." SCT For leasing, contact Jerry Altland, vice president of real estate, at jaltland@ollies.us. J an ua ry 20 14 / SCT 15