A second Five Below store will be built in Frisco early next year, according to a Texas Department of Licensing and Regulation filing.
The company’s website shows the existing store is at 3333 Preston Road. According to the filing, construction is set to begin in January at 4995 El Dorado Parkway. The projected construction cost of the work is set at $225,000 for the 11,088-square-foot store.
Kite Realty of Southlake is listed as the design firm on the filing. Construction is scheduled to be complete by the end of July.
Its headquarters in Philadelphia, Five Below, was founded in 2002. The concept has about 1,200 stores in the U.S., including 148 in Texas. Many of its products range in price from $1 to $5, with some items selling for as much as $25. The company is a “high-growth value retailer offering trend-right, high-quality products loved by tweens, teens and beyond.”
Five Below brands include products tied to Disney, Marvel, Star Wars, and Barbie, and a range of books, phone accessories, electronics and small toys to travel accessories, tumblers, fitness equipment, art supplies, journals, throw blankets, and beauty supplies.
CNN reported in March 2022 that Five Below planned to open 1,000 new stores over the next three years in the wake of Toys “R” Us filing for bankruptcy in 2017 and closing all of its locations. By 2030, Five Below hopes to open another 2,500 stores, the network reported.
Its annual sales total just over $3 billion, according to its website, and CNN reported the company has partnered with Instacart to offer home delivery.
Other stores in the El Dorado Parkway area of Frisco include Target, Ulta, Dollar Tree, Petco, Michael’s, and Best Buy.