Multiple Newly Constructed and Renovated Sites Opening
Soloff Realty & Development, Inc. (SRD) is the Exclusive Tenant Representative of Dollar General Corporation (NYSE: DG)in Eastern Pennsylvania, New Jersey, and Delaware. SRD facilitated the lease of more than 29 stores (7 in Pennsylvania and 20 in New Jersey and 2 in Delaware) over the last 12 months.SRD’s Richard Soloff represents Dollar General in Eastern Pennsylvania and Delaware; David Dunkelman represents them in New Jersey. Dollar General has been a client of SRD for more than a decade.
The nationally recognized retailer is one of the most profitable retail chains in the nation, with more than 15,472 stores in 44 states (as of March 1, 2019) and plans to open 975 new stores in the U.S. this year alone.
In 2018 the company reported its 29th straight year of same-store sales growth – despite minimal e-commerce. That’s a streak no other major U. S. Retailer can match: Even might Walmart endured nearly two years of comparable-sales declines earlier this decade.
By incorporating a successful prototype, no-frills model, and selling basic merchandise, DG keeps costs down for its customers looking for value and convenience. DG is noted for their efficient site selection & development process, which allows them to quickly select ideal locations that are closer to their customers’ homes in urban and rural areas, especially where there are food deserts.
Recently, through a partnership with state and local leaders, DG purchased a 148,000-square-foot cold storage facility in Pottsville, PA which, at full capacity, will bring more than 100 jobs to Schuylkill County. DG employs more than 6,500 individuals in Pennsylvania. The new cold storage facility will support the new “DG Fresh” initiative in a line of Market stores which will include frozen foods, fresh produce & dairy products.
In response to consumer demand, DG will remodel 1,000 older stores with queue lines to speed service and spruce up the health and beauty section. The chain has also released a shopping app called “DG Go!” which will enable customers to scan items and pay via phone to bypass traditional checkout service.
Dollar General Corporation – Fast Facts:
- $25.6 billion in sales in fiscal 2018
- 15,472 retail locations as of March 1, 2019
- Approximately 7,500 – 9,100-square-foot stores
- 10,000 - 12,000 total stock keeping units (SKUs) per store from America’s most-trusted manufacturers
- 16 distribution centers
- Approximately 135,000 employees
- Ranked #123 on the Fortune 500 list as of May 2018
About Soloff Realty & Development:
Soloff Realty & Development, Inc. (SRD) is a privately held, full service commercial brokerage and real estate development firm specializing in the expansion needs of exclusive retail clients in Eastern Pennsylvania, New Jersey and Delaware. SRD also specializes in the development, leasing and sale of free-standing retail properties and shopping centers throughout the Northeast. Visit us on LinkedIn.
