Ollie’s Bargain Outlet is the latest major tenant to take its business to Iowa City Marketplace, formerly known as Sycamore Mall. Opening this year, it will be Ollie’s first ever location in Iowa. “Ollie’s offers versatility for the shopper along with affordability,” said Lydia Chernitsky-Hamd, a leasing director for Brookwood Capital Advisors, in an email […]
Ollie's Bargain Outlet is the
latest major tenant to take its business to Iowa City Marketplace, formerly known as Sycamore Mall.
Opening this year, it will be Ollie's first ever location in Iowa.
"Ollie's offers versatility for the shopper along with affordability," said Lydia Chernitsky-Hamd, a leasing director for Brookwood Capital Advisors, in an email to the CBJ. "Ollie's can fill up the large space that Lucky's left and bring in their wide variety of merchandise from pantry items to home decor at lower prices than other stores."
Lucky's Market closed at Iowa City Marketplace in the same location in 2019.
Iowa City Marketplace was bought by Brookwood Capital Advisors for $14.25 million in July. Ben Hamd, founder of Brookwood, said he anticipated a "
major outlet" to sign a 10-year lease.
Ms. Chernitsky-Hamd confirmed Ollie's is the major tenant they were referring to in October. She guesses the store will bring about 30-50 jobs to the area.
She believes they Ollie's was interested in the Iowa City market due to the marketplace's "excellent national co-tenancy, plus a movie theatre which bakes in some great foot traffic a national chain like Ollie's would be interested in."
Marcus Sycamore Cinema is located within the Iowa City Marketplace.
Ollie's is the most recent — and prominent — addition to the area. Other additions include food truck Da Flava Unit, RZ Tech & Web Services and tattoo shop ABK Ink.
Another restaurant is expected to be announced soon.
"I think these businesses offer diversity in the community's shopping experience," she added.
Ollie's currently operates in 29 states across the country.
