Retail Retold Replay – From Contingency to Closing: How Five Below Landed in Cheektowaga
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Topics: retail, buy now pay later, supply chain, Five Below, commercial real estate, retail recovery, consumer behavior, retail trends, retail industry, retail stories
In this Retail Retold Replay, Chris Ressa dives into the winding path of a complex lease deal at a DLC shopping center in Cheektowaga, NY — where Five Below ultimately took the space, but not before a rollercoaster of negotiations, tenant terminations, and lessons in legal vs. physical possession.
The story starts with Office Depot downsizing, a prospective tenant backing out, and ends with a successful Five Below opening. Along the way, you’ll hear why contingencies in commercial real estate deals are everything — and how timing, relationships, and flexibility can turn a near-miss into a win.
A must-listen for anyone in leasing, development, or deal-making.
Takeaways:
- Buy now, pay later options are on the rise and appealing to younger consumers, and retailers are investing heavily in buy now, pay later platforms.
- Supply chain challenges can vary based on ordering behaviors. Retailers who continued ordering during the pandemic are better positioned.
- Five Below’s entry into Cheektowaga, NY involved complex negotiations.
- Possession in commercial real estate can be legally defined but physically contested.
- The importance of having tenants who are committed to their locations.
- Understanding the contingencies in real estate agreements is crucial.
Chapters
00:00 Introduction to Retail Retold
02:47 The Buy Now, Pay Later Craze
05:40 Supply Chain Insights
08:20 The Five Below Story
About Retail Retold:
The Retail Retold Podcast highlights community retailer stories from across the country and gives a behind-the-scenes perspective from business leaders in both retail and real estate industries. The show’s episodes contain valuable insights that help solve the needs of entrepreneurs and real estate pros. Join host Chris Ressa and new guests weekly for amazing insights and thought-provoking stories.