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Updated: July 20, 2023

With Five Below lease, Topsham Crossing is fully occupied

Courtesy / Five Below The retailer Five Below has leased 10,000 square feet at Topsham Crossing. (Pictured is a stock image.)

Five Below leased 10,768 square feet of retail space at the Topsham Crossing Center.

The retail complex, which is owned by Bridge33 Capital, is now 100% occupied for the first time since Bed Bath & Beyond relocated to Brunswick in 2016. (BB&B has since closed the Brunswick location.)

Boulos co.
The retailer Five Below leased 10,000 square feet at the Topsham Crossing Center.

Bridge33 Capital is a privately held, vertically integrated real estate investment firm with a focus on acquiring value-add commercial properties across the United States. It has offices in Seattle, Las Vegas and Denver. In addition to the Topsham Crossing Center, Bridge33 Capital owns four other grocery-anchored assets across Maine consisting of over 562,975 square feet.

The landlord was represented in the deal by Derek Miller, Brice O’Connor, and Sasha Phillips of the Boulos Co. The tenant was represented by Jim Bagley of Atlantic Retail. 

Topsham Crossing Center, which is 86,000 square feet, also has Petco, Dick's Sporting Goods and Dollar Tree. Capital33's other holdings in Maine include Bangor's Airport Mall, which is 226,000 square feet; Wells Plaza (93,000 square feet); Shaw's Plaza (119,000 square feet) in Waterville; and Shaw's Plaza (124,000 square feet) in Windham.

About Five Below

Five Below is a discount retailer that targets tweens and teens. This will be its third Maine location, joining stores in South Portland and Augusta.

Five Below
A Five Below store interior.

It was founded by Tom Vellios and David Schlessinger, two retail veterans, and is based in Philadelphia. Schlessinger's previous ventures included Encore Books, a discount bookseller in Philadelphia, and Zany Brainy, a retail chain that sold educational toys. 

Five Below (Nasdaq: FIVE) opened its first store in Wayne, Pa., in 2002. The chain hit 1,200 stores last year when it opened one on Union Square in New York City. The company is on target to top $3 billion in sales this year. Its market cap is $11.2 billion.


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