GRANITE CITY, Ill. — A big-box shopping center in the Metro East has landed two large anchor tenants for a $7 million redevelopment that will fill nearly 70,000 square feet of space that’s been sitting empty for four years.
Construction is underway at Nameoki Commons shopping plaza at 3521 Nameoki Road in Granite City to convert a former grocery space into two new retail stores: Ollie’s Bargain Outlet is leasing 31,874 square feet. The national retailer, with 450 locations, is new to the St. Louis market.
A combination of Family Dollar and Dollar Tree will take 21,412 square feet. The stores, owned by the same parent company, Dollar Tree Inc., will relocate from their current separate stores nearby in Granite City into one new space.
The space has been sitting empty since a Shop ’n Save grocery closed in November 2018. The shopping center has other tenants, including a Hibbett Sports, Cato clothing store, Club Fitness, Arby’s and Smoothie King, with more soon to be added based on the incoming anchor tenants, said the landlord’s broker on the deal, Eddie Cherry of Manor Real Estate.
Construction on the new stores at Nameoki Commons is expected to finish by summer 2023, Cherry said. The development cost of $7 million is being shared between the landlord and tenants.
The deals to fill the former Shop 'n Save space will increase the shopping center's lease rate from 39% to 83%, Cherry said.
Ollie’s announced its first two Kansas City stores last year, built inside a former Toys ‘R Us and a Babies ‘R Us. The store sells closeout merchandise and excess inventory including housewares, food and sporting goods, according to its website.
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