Dollar Tree leases former Pier 1

Oct. 26, 2020

The former Pier 1 Imports location is becoming a Dollar Tree.

The national dollar retailer has leased the 11,000-square-foot building on 49th Street west of Louise Avenue.

Pier 1 closed in September as part of a national closure.

“Within one day of Pier 1’s closure announcement, Dollar Tree began negotiations for their 49th Street building,” according to Ryan Tysdal of Van Buskirk Cos., who brokered the deal.  “It speaks to the strength of the Sioux Falls real estate market to see vacant retail space backfill so quickly.”

Before closing, the Sioux Falls Pier 1 store was consistently the retailer’s No. 1 location, he said.

It will be Dollar Tree’s sixth Sioux Falls site.

Dollar Tree has been in expansion mode, according to Tysdal, who represents the value retailer in South Dakota.

“They are actively seeking new sites throughout the state.”

The retailer recently opened its fourth Sioux Falls store in the neighborhood of Walmart at 85th Street and Minnesota Avenue. The fifth store is being built next to the under-construction Fareway at 41st Street and Ellis Road in the Westown Marketplace development. That Dollar Tree is scheduled to open early next year.

Dollar Tree is a common co-tenant near Walmart locations and grocery stores, according to Tysdal.

“Being across the street from Hy-Vee made the Pier 1 property attractive,” he said.

“Being right next to The Empire, this site has a great regional draw of customers who don’t necessarily live in Sioux Falls. The mall sees over 9 million visitors annually.”

Dollar Tree is scheduled to be open in the former Pier 1 building before the end of the year.

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Dollar Tree leases former Pier 1

The former Pier 1 Imports location is becoming a Dollar Tree.

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