PernaFrederick Represents Five Below on Headquarters Expansion at 1818 Market Street

PHILADELPHIA, PA — PernaFrederick, a boutique Philadelphia commercial real estate brokerage firm, announced today that Five Below has signed an amendment to expand at 1818 Market Street, Philadelphia. Five Below had initially taken 35,500 sq. ft. at 1818 Market in January 2012 and this expansion will increase their occupancy to 60,000 sq. ft.

“It was a pleasure to again represent Five Below with its latest expansion”, said Steve Perna, founding partner of PernaFrederick. “They anticipated needing the additional space in early 2014 and their projections were right on target.”

Construction of the 20th floor space is underway, with Five Below scheduled to take occupancy in January 2014. Roger McManimon, a broker with Cushman & Wakefield of PA, Inc., represented the Landlord in this transaction.

1818 Market Street is a 36-story, 981,743 sq. ft. building in the heart of Philadelphia’s West Market Street. In addition to Five Below, major tenants include Beneficial Bank, Merrill Lynch, The American College of Radiology, eResearch Technology and Philadelphia Magazine, among others.

About Five Below
Five Below is a rapidly growing specialty value retailer offering a broad range of trend-right, high-quality merchandise targeted at the teen and pre-teen customer. Five Below offers a dynamic, edited assortment of exciting products in a fun and differentiated store environment, all priced at $5 and below, including select brands and licensed merchandise across a number of category worlds: Style, Room, Sports, Media, Crafts, Party, Candy, and Now. Five Below is headquartered in Philadelphia. For more information, visit www.fivebelow.com.

About PernaFrederick
Founded in 2007, PernaFrederick specializes in landlord and tenant representation for corporations, businesses and professional organizations, as well as user and investment sales, comprehensive market audits, cash flow projections, and lease vs. own analyses.