Many of you have asked me what is being built on the Veterans Memorial Parkway near the intersection of the Bypass and Highway 301 South. The specific location being referenced is in the southwest quadrant of the intersection between Advance Auto Parts and the railroad tracks.
It is going to be a Family Dollar store and is slated to open in the next few weeks. When I stopped to speak to the job site foreman, I started to think. It seems that we have a number of these discount retail stores being built here. So, I did some quick research.
Once this store is completed, we will have two Family Dollar stores, six Dollar General stores, and two Fred's Super Dollar stores in Bulloch County - with most being located in and around the city. Clearly, our shopping patterns support continued expansion.
I was somewhat surprised to find the following. Dollar General (NYSE: DG) is the largest discount retailer by number of stores in the country with more than 10,700 locations across 40 states. Family Dollar (NYSE: FDO) has over 7,600 stores, and Fred's (Nasdaq: FRED) has more than 700 stores.
A quick point of interest, as of yesterday, Dollar General was trading at $57.14 per share, Family Dollar at $70.63 per share and Fred's at $15.09 per share with Dollar General and Family Dollar performing near their 52-week high. Based on these numbers, I am not surprised to see more being built.
There is a saying that "rooftops" drive commercial development, and with the number of apartments that have been built in that area, it isn't surprising that commercial development is following.
Which begs the question, is anything being developed across the street, like a grocery store perhaps? Landowner Robert Tanner said the following.
"The property is under contract to the largest developer of grocery store locations in the country," he said. "This is very promising, and we are optimistic. It will be presented in two weeks. We will see how it goes."
So, until next Tuesday, I bid you au revoir.
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