ISLAMORADA DOLLAR TREE REPORTEDLY CLOSING THIS MONTH

July 17 is reportedly Dollar Tree’s last day in Islamorada. JIM McCARTHY/Keys Weekly

Shelves are growing barren inside the Dollar Tree store in Islamorada. One of the few shopping options in the village, the place once known for its signature “everything is $1” is set to close in mid-July.

The property, which consists of a roughly 9,000-square-foot retail building, sold for $2,050,000 to MM 82.790 LLC, in July 2021. The building is situated on 24,829 square feet of land along Overseas Highway in the heart of Islamorada’s business district. 

As to what will occupy the building at MM 82.7, property manager Gardo Gomez told Keys Weekly that a tenant will occupy the space. MM 82.790 LLC is managed by Shawn Tolley and John Cioffi, of Sandal Factory Inc. Gomez serves as executive vice president of operations for Sandal Factory. The Sandal Factory in Islamorada is located not far from the Dollar Tree at MM 81.9. 

Empty and barren shelves inside Dollar Tree.

“As much as everyone needs housing, especially for employees, that’s not what’s happening here,” Gomez said. 

Koniver Stern Group negotiated the sale of the Dollar Tree store last summer. 

“This was a great opportunity to purchase a cash-flowing asset in a high barrier of entry market place, with future redevelopment upside,” said Jordan Spitz, of Koniver Stern Group, at the time of the sale. “We have seen a huge demand in 2021 from buyers wanting to purchase investment properties in South Florida.”

Dollar Tree is reportedly set to close July 17. Dollar Tree’s exit leaves few options for residents and visitors seeking household items and other essential supplies in the heart of Islamorada. The shopping options include CVS Pharmacy, located next to the dollar store, Publix Supermarket and ​​the local grocery store Trading Post and the new Keys Mercantile at MM 87.

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Jim McCarthy is a Western New Yorkers who escaped the snow and frigid temperatures for warm living by the water. A former crime & court reporter and city editor for two Western New York newspapers, Jim has been honing his craft since he graduated from St. Bonaventure University in 2014. In his 3-plus years in the Keys, Jim has enjoyed connecting with the community. “One of my college professors would always preach to be curious,” he said. “Behind every person is a story that’s unique to them, and one worth telling. As writers, we are the ones who paint the pictures in the readers minds of the emotions, the struggles and the triumphs.” Jim is past president of the Key Largo Sunset Rotary Club, which is composed of energetic members who serve the community’s youth and older populations. Jim is a sports fanatic who loves to watch football, mixed martial arts and golf. He loves to hit the links and play some softball with his Make A Play team. He also enjoys time with family (he's expecting a little boy in October).