Dollar Tree, Harbor Freight coming to Monument Mall
SCOTTSBLUFF – “Life is good” is how Andy Weiner, president of RockStep Capital, reacted to news that two new businesses will be locating in the company’s Monument Mall property in Scottsbluff.
On Thursday morning, Weiner signed the lease to bring a Dollar Tree store to Scottsbluff. He said RockStep has been working on that project for the past 3½ years.
“Dollar Tree went through some management changes, but they’ve wanted to come to this market for a long time,” he said. “They should be open by the end of June.’
A 10,000 square foot Dollar Tree store will be located to the right of Hobby Lobby.
Construction is also continuing in the former Herberger’s store, whose parent company declared bankruptcy in August 2018 although the local store was highly successful.
Taking up about 15,000 square feet of that space will be another national tenant, Harbor Freight, which bills itself as “Quality tools at ridiculously low prices.”
The company has more than 1,000 stores nationwide and will take up the west end of the Herberger’s space. They’ve been interested in the local area for some time and plan to be open sometime this summer, according to Weiner said.
“We’re also negotiating with three national tenants to take various portions of the remaining Herberger’s space and another space as well,” Weiner said. “The remaining 50,000 square feet of Herberger’s will be split up between two or possibly three other stores.”
Industry estimates show that once an anchor store pulls out of a mall, it takes from two to three years to a find a replacement. For Scottsbluff, it took less than a year.
“This tells us the regional economy for Scottsbluff is strong,” Weiner said. “The national economy is producing retailers that, even with the online Amazon effect, want to grow rapidly.”
He said the companies RockStep is negotiating with told him they like an isolated market where a new store won’t cause a loss of sales from their already established stores in the region.
“A potential tenant also likes the fact the local market is healthy, the location is central and the stores are visible,” Weiner said. “In today’s world, lease costs have to work within their budgets. Scottsbluff-Gering qualifies in all those areas.”
Monument Mall is also working on a concept for an antiques and interiors “mall” inside the former JC Penney space. Weiner said they’re working with a company that has similar stores in other areas and are interested in expanding into the local market.
“There’s a huge trend nationwide for interiors and antiques refurbishment,” he said. “That’s a use we’re planning for the Penney’s space.”
RockStep would glad to work with an operator in the antique business that might be interested in managing that type of store.
The contact person is Dan McKinney, RockStep’s director of leasing. He can be reached at 303-204-8755.