Five Below in Penitas, TX

A 9,042 sq ft tenant build out for Five Below is registered at 2308 E Expressway 83 in Penitas. The project, filed as Five Below - Penitas, is a renovation and alteration of an existing structure in Hidalgo County. The estimated cost for this work is $175,000, which equates to $19 per square foot. This figure is below the county median of $70 per square foot for similar renovation filings. The scheduled build window of 212 days is longer than the county median of 92 days for this project type.

Project Parties and Scope

CBRE is the owner or developer of record for this site. Sargenti Architects serves as the design firm of record. Steven Schwartz is the registered accessibility specialist associated with the filing. The scope is defined strictly as a tenant build out. This registration is privately funded on private land for private use. TDLR completed the plan review in May 2025. Construction was scheduled to begin in December 2025 with a completion target of July 2026.

TDLR has not yet recorded a final inspection, so the current state of the site is not confirmed in the public record. The status remains Review Complete. No final occupancy or completion documentation is present in the filing data. The project is one of several registered by CBRE, including locations in Houston and Bee Cave. Sargenti Architects has also designed other retail projects, such as a Five Below location in Houston. Other nearby registered projects include new construction for Olive Garden and Longhorn Steakhouse in the same area.

The location sits in ZIP code 78576, where the U.S. Census estimates a population of about 13,902. The median household income in this area is $48,205. Median owner-occupied home value is estimated at $116,600. Nearby businesses include Turbo Lube 10 Minute Oil Change and Murphy USA. The area profile indicates housing is predominantly owner-occupied. Hidalgo County unemployment was 6.3 percent in August 2026, lower than a year earlier.