CONROE, TEXAS (December 20, 2019) – Conroe Park North is prepared to add its newest, and largest, tenant. Five Below Inc., a Philadelphia-based retailer, is currently constructing an 858,000 square foot distribution facility in the industrial park. Building on 72 acres, the facility is expected to be operational by May 2020. Once completed, it will be largest building in Conroe Park North.
Five Below’s addition will also be a major boost to the local workforce. The project is expected to create 190 full-time jobs with an annual payroll of $6.2 million.
“It is a major win for Conroe to have Five Below choose Conroe for their newest distribution facility,” offered Danielle Scheiner, Executive Director of the Conroe Economic Development Council. “The jobs this project will create and economic boost for the city will be felt immediately. We are excited to welcome Five Below to Conroe.”
Upon completion and at full operational capacity for Phase 1, the project is expected to add real property improvements with a taxable value of nearly $43 million, business personal property with a taxable value of $34.5 million, and annual inventory of approximately $1 million. Conroe City Council and Montgomery County Commissioners Court have shown their support by approving abatements for the project.
Five Below’s presence in Conroe is not limited to Conroe Park North. Additionally, the company recently opened a retail store in Conroe’s Grand Central Park.