Discount retailer Five Below Inc. (Nasdaq: FIVE) is planning a new store in Spokane Valley, records on file with the city show.

The Philadelphia-based chain has submitted a permit application for a $100,000 tenant-improvement project at the 12,200-square-foot, former Party City store at 13806 E. Indiana, in a shopping center west of Spokane Valley Mall that houses a Staples outlet and a Total Wine & More store, among other retailers.

Five Below’s proposed Spokane Valley store is one of seven being planned at former Party City stores across the state, the Puget Sound Business Journal reports.

Party City closed all of its stores across the U.S. in February. Five Below successfully bid on 44 of Party City’s leases at a bankruptcy auction, according to a report from CoStar.

Other locations being considered across the state include Richland, Yakima/Union Gap, Federal Way, Puyallup, Lynnwood, and Everett, according to the Puget Sound Business Journal.

Washington is currently one of just five states that doesn’t have any Five Below stores, the company's website shows.

Known for pricing most of its items at $5 or less, the retailer has over 1,800 locations nationwide.

Five Below, which was founded in 2002, reported sales over $3.8 billion in 2024.