July 27, 2020
Dollar Tree signed a 10,500-square-foot lease at Pico Pavilion in San Clemente, claiming a space formerly occupied by Pier 1 Imports. The Chesapeake, VA-headquartered chain of discount variety stores executed a 10-year lease and plans to open to the public in Q4 2020.
Argent Retail Advisors’ Terry Bortnick represented Pico Pavilion, LLC, the owner of the property.
Bortnick says, “The former tenant, Pier 1 Imports, filed for bankruptcy in February, and then the Covid-19 Crisis and the ensuing lockdown hit us full steam in March, yet we were still able to fight through the adversity to get this deal closed during this Black Swan event.”
Pico Pavilion is located at I-5 and Avenida Pico, a prime South Orange County coastal location.
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