Five Below opens new distribution center in NJ to support growth

Five Below has signed a lease for a new distribution center in Oldmans Township, New Jersey. The 1,045,000-sq.-ft. facility, located at 5 Gateway Blvd. in Pedricktown, will replace the company's existing 421,000-sq.-ft. facility located 12 miles away in New Castle, Delaware.



Five Below will occupy approximately 700,000 sq. ft. of the facility to start with plans to grow to a million sq. ft. over time. The new distribution center, which is expected to be fully operational in the second half of 2015, will support the company's continued growth and expansion on the East Coast.



Five Below will move into the new facility in summer 2015. The property is owned by NFI, a leading supply chain solutions provider headquartered in Cherry Hill, New Jersey. All 175 current jobs at the New Castle facility will be transferred to the new site, and given the proximity of the location to the existing facility, it is expected most employees will continue in their current positions with more than 100 new jobs expected to be created in the next few years.



"It is an exciting time for Five Below, as we continue to make the necessary investments to fuel the expansion and success of our brand," said Tom Vellios, CEO and co-founder of Five Below. "The Northeast is an extremely important market for Five Below and includes some of our highest volume stores. In addition, there is substantial store growth opportunity on the East Coast, which creates the need for increased distribution capacity. For us, a key component of this decision was to find a strategic location that would meet our growth needs but also allow us to maintain our workforce, who have been a key contributor of our success to date. With this new distribution center, we have achieved both of these objectives."



"We are incredibly pleased that Five Below chose Oldmans Township for the location of its new distribution center," said Mayor Harry A. Moore of Oldmans Township. "In time, this new facility will create additional jobs in our area and we look forward to working together with Five Below to help support the company's continued growth."