Dollar Tree is set to open a new location in Shrewsbury, New Jersey, occupying a retail space on Newman Springs Road. The company has signed a lease for a nearly 13,700-square-foot unit, completing the redevelopment of a property that once housed a large supermarket.
Key Takeaways
- Dollar Tree has leased a 13,700-square-foot space in Shrewsbury on Newman Springs Road.
- The new store will be located next to an existing Aldi supermarket.
- This move fully occupies a retail building that was previously a single large supermarket and later a discount store.
- The store is expected to open to the public later this year.
New Retailer Finalizes Property Redevelopment
A significant retail space in Shrewsbury will soon be fully occupied with the arrival of a new Dollar Tree store. The discount retail chain has secured a lease for the remaining portion of a building that was subdivided after its previous tenant, Ocean State Job Lot, closed in 2019.
The property owner, Sudler Cos., divided the large building into two separate units. The first unit was leased to the German grocery chain Aldi, which has been operating at the location. Dollar Tree will now occupy the second, adjacent unit, bringing the property to full capacity.
Jeff Hale, executive vice president of leasing at Sudler Cos., commented on the new tenant. He noted that Dollar Tree's presence is expected to benefit the shopping center by attracting more customers.
"Dollar Tree is a national tenant that brings foot traffic into the site and a complementary use with Aldi," Hale stated.
The synergy between a discount grocer like Aldi and a dollar store is a common strategy in retail development. Both stores appeal to budget-conscious shoppers, and their proximity can create a convenient, one-stop shopping destination for consumers seeking value.
Strategic Expansion for Dollar Tree
The new Shrewsbury location is part of Dollar Tree's ongoing strategy to fill gaps in its market coverage. The company identified this specific area as an opportunity for growth and moved to secure the available space.
Filling a Market Need
According to Danielle Brunelli, president of the commercial real estate brokerage R.J. Brunelli & Co., which represented Dollar Tree, the decision was based on market analysis. "It was a trade area they needed to fill," Brunelli explained, highlighting the strategic importance of the Newman Springs Road location.
This new store joins other Dollar Tree locations in the vicinity, demonstrating the company's commitment to strengthening its presence in the region. Nearby stores include:
- Tinton Falls Plaza on Shrewsbury Avenue
- Union Square shopping center on Route 35 in Middletown
The expansion comes at a time when discount retailers continue to perform strongly in the U.S. market. As consumers remain focused on value, brands like Dollar Tree are well-positioned to attract a broad customer base. The addition of this store reflects confidence in the local economy and consumer demand.
A Property with a Long Retail History
The building at the center of this development has a long and varied history as a key retail destination in Shrewsbury. For many years, it operated as a single, large-format supermarket, a common model for grocery stores in previous decades.
Initially, the property housed a Stop & Shop supermarket. Later, it became a Foodtown, which served the community until it closed its doors in 2008. The closure left a significant retail vacancy in the area.
Timeline of Occupancy
- Pre-2008: Operated as Stop & Shop, then Foodtown.
- 2008: Foodtown closes.
- Post-2008: Leased by Ocean State Job Lot.
- 2019: Ocean State Job Lot closes.
- Post-2019: Building subdivided; Aldi opens in one half.
- 2024: Dollar Tree leases the second half.
Adapting to Modern Retail Trends
Following the departure of Foodtown, the building was leased to Ocean State Job Lot, a discount retailer. This shift from a traditional grocer to a general discounter reflected changing consumer habits. Ocean State Job Lot operated at the location for several years before closing in 2019.
The closure of Ocean State Job Lot presented a challenge common in modern real estate: finding a single tenant for a large, aging retail box. Instead of waiting for another large-format store, Sudler Cos. opted for a more flexible strategy by subdividing the property. This approach allows for smaller, more diverse tenants and reduces the risk associated with relying on a single occupant.
The successful leasing of both subdivided units—first to Aldi and now to Dollar Tree—validates this adaptive reuse strategy. It demonstrates how property owners are transforming legacy retail spaces to meet the needs of today's businesses and consumers.
Impact on the Shrewsbury Community
The opening of the new Dollar Tree is expected to have a positive impact on the local retail landscape. The store will provide an additional affordable shopping option for residents and is anticipated to create new jobs in the area. The completion of the retail center's occupancy also signals a healthy and active commercial environment on Newman Springs Road.
The combination of Aldi and Dollar Tree creates a powerful draw for shoppers. Both brands are known for their low prices, and their colocation can increase overall foot traffic to the shopping center, potentially benefiting other nearby businesses.
With an expected opening later this year, the community can look forward to a fully revitalized retail space that has been successfully adapted from its past as a single-tenant supermarket into a multi-tenant hub for value-oriented shopping.