Five Below

Five Below is a national specialty retailer known for offering a wide variety of affordable, trend-focused merchandise. The company was founded in 2002 in Philadelphia by David Schlessinger and Tom Vellios, who saw an opportunity to create a destination for tweens, teens, and value-minded shoppers. Since then, Five Below has grown steadily, reaching a milestone when it became a publicly traded company, which accelerated its expansion and raised its profile among consumers and real estate professionals alike.

As of November 2025, Five Below operates 1,850 stores across 44 states. The brand’s footprint continues to expand, with a recent entry into the Pacific Northwest marked by eight new stores opening in Washington and Oregon. This move reflects Five Below’s ongoing strategy to target both new and existing markets, with a goal of more than 3,500 stores nationwide in the coming years. The company’s priority growth regions include the Pacific Northwest, West Coast, Midwest, Southeast, and Northeast.

Five Below’s stores are typically located in high-traffic shopping centers and malls, and the company’s flexible store formats allow it to adapt to a variety of retail environments. Over the past five years, the brand has evolved by adding new product categories and enhancing its omnichannel capabilities, including buy online, pick up in store and a robust e-commerce platform. The retailer’s assortment covers toys, tech accessories, beauty, candy, room décor, sports, and seasonal items, all designed to appeal to a broad customer base seeking both quality and value.

For landlords, brokers, and developers, Five Below stands out for its consistent growth, adaptable store concepts, and strong national presence. The company does not franchise, maintaining direct control over its real estate decisions and store operations. Its reputation as a reliable tenant is reinforced by verified real estate contacts and a proven track record of entering new markets and driving foot traffic to retail centers. Five Below’s continued focus on innovation and experiential retail positions it as a dynamic and attractive brand for a wide range of commercial properties.