Dollar Tree looks to ace Keizer

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The former Ace Hardware building will soon be a Dollar Tree store. (KEIZERTIMES/Craig Murphy)

The former Ace Hardware building will soon be a Dollar Tree store. (KEIZERTIMES/Craig Murphy)

By CRAIG MURPHY
Of the Keizertimes

National retailer Dollar Tree is looking to bring true value to Keizer later this year.

An official with the Virginia-based retailer confirmed the news last week. The Dollar Tree will be going in at 5014 River Road North.

“Right now, that new store is expected to open in the early autumn of this year,” said Timothy Reid, vice president of Investor Relations for Dollar Tree.

Rosewood Park LLC out of Corvallis is listed as the building owner. Mark Rose, one of several members of Rosewood, gave a similar timeline.

“I suspect it’s going to be five to six months before they open for business,” Rose said of Dollar Tree. “They definitely are going to be there. We have to do a little bit of modification. We’re putting in a new HVAC system and just put a new roof on.”

The location on River Road had been various hardware stores over the years including Coast to Coast, True Value and finally Ace before closing in January.

At the time, store owner Greg Frank said two factors led to the decision to close.

“The cost of the lease and entering into another long-term lease, plus the sales history of this location were the two main ones,” he said.

According to Dollar Tree’s website, the company opened its 4,000th store in 2010 and currently has more than 4,400 locations in the United States and Canada.

Dollar Tree did $7.84 billion in sales in 2013. The company was founded in 1986 as Only One Dollar.

The company website shows five Dollar Tree locations in Salem, but none currently in Keizer.

Rose said his company had a list of potential tenants and local real estate agent Jennifer Martin reached out to Dollar Tree.

“I think they’re going to be a really good tenant,” Rose said. “We are excited about it.”

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