More cities planning to see ‘Dollar’ signs
Fast growing retailer Dollar General will build a new store in Exeter on Visalia Road adding to their string of new stores in the Tulare County orange belt area.
The company is seeking a a conditional use permit from the Exeter Planning Commission at their next meeting September 19, says planner Greg Collins.
“They want to build a 9000sf store west of Burger King and across the street from Savemart on Visalia Road.”
Just this month the discounter opened their new 12,500sf Woodlake store and in the past month the company got approval to build a new store in Lindsay after selecting a another location.
In Woodlake the developer has the real estate on Naranjo for sale for $3.14 million to investors – promising the cash flow from Dollar General stores make it a good risk. The Woodlake locatio is expected to open in September.
The Hanley Investment Group selling the asset says earning per share were up 28% in 2012 and same store sales projections expect a 4 to 5% increase this year.
In Lindsay after a split city council favored the developers latest application 3 to 2, the Embree Asset Group offered $5,000 to an auto repair merchant who will be displaced by the construction of the new store. This happened after a few months earlier the same group lost a vote on the council to build their store Downtown displacing an historical building resulting in some ill will in the community.
Its not just Dollar General who is expanding here but rivals Dollar Tree and Family Dollar are also building stores in the Valley. All three will now be represented in Exeter.
Competition wise the explosion of these stores may impact large discount retailers like Kmart and Walmart but also little ‘Mom and Pop’ convenience stores.
Dollar General is emphasizing food sales on most stores. Nationwide Dollar General opened 626 new stores in 2012.
Dollar General already has new stores in Porterville, Farmersville and Ivanhoe with one coming on Mooney in Visalia and three slated for Tulare. A new store has also been announced in Earlimart.
-By John Lindt