Dollar Tree acquires 99 Cent Store in Downey

After closing in April, Dollar Tree announced it was taking over several 99 Cent Only Stores, including the Downey location. (Photo by Eric Pierce)

DOWNEY — Dollar Tree has acquired the leases of dozens of 99 Cents Only Stores and will reopen these stores with its own products as early as fall 2024, the company announced.

The leases acquired by the company span across Arizona, California, Nevada and Texas, and include the Downey store on Paramount Boulevard.

Dollar Tree also acquired the North American intellectual property of 99 Cents Only Stores, as well as some furniture, equipment and fixtures inside the stores.

"As we continue to execute on our accelerated growth strategy for the Dollar Tree brand, this was an attractive opportunity to secure leases in priority markets where we see strong profitable growth potential,” said Michael Creedon, Jr., Dollar Tree’s Chief Operating Officer, in the news release.

In addition to the Downey location, Dollar Tree also acquired the leases of stores in Bellflower, Montebello, Whittier and two Norwalk stores.