AUSTIN-HomeGoods has entered the local market with a new store at Sunset Valley Marketfair. The off-price home furnishings retailer signed a 10-year lease for 31,523 square feet in the 213,768-square-foot center.
HomeGoods will occupy the last dark Circuit City space in the Austin metro area, according to Travis Robertson, a broker in the commercial retail division of The Weitzman Group. He and Lance Morris represented the landlord, a private investor, in lease negotiations.
Robertson tells GlobeSt. the former Circuit City space at Sunset Valley Marketfair has been vacant for nearly two years. “For most of 2009, we didn’t see much interest because of the economy, but in December 2009, activity started to pick up,” he recalls. “We began to see a flurry of interest from several national junior anchor tenants. HomeGoods was the obvious choice.”
HomeGoods joins Ross, Buy Buy Baby, TJ Maxx and Bed, Bath & Beyond at the center, which is located at 5400 Brodie Lane. With the exception of the HomeGoods space, the rest of the center is owned by Kimco Realty Corp., a New Hyde Park, N.Y.-based REIT.
“Sunset Valley is a strong trade area with very minimal retail vacancy, especially junior anchor boxes,” Robertson says, explaining why HomeGoods chose Sunset Valley Marketfair for its first Austin location.
The new HomeGoods store will open later this month, according to Robertson. The retailer, which has more than 300 stores across the country, is owned by the world’s largest off-price retailer, The TJX Companies Inc.
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