Velocity Retail Group’s Darren Pitts, Executive Vice President, represented At Home (NYSE: HOME) in the purchase of 5.88 acres of land in The Groves shopping center located at the northwest corner of Elliot Road and Hardy Drive in Tempe, Arizona. Existing tenants in the shopping center include Wal-Mart Supercenter, Ross Dress for Less, PetSmart and Staples and other retailers in the intersection include Costco Wholesale, IKEA, Floor & Decor and The Dump.
“We were pleased to be able to find such a high quality site for At Home in the City of Tempe. This acquisition will secure At Home a premier Elliot Road location in the dense south Tempe market. This is one of the strongest retail intersections in the Southeast Valley,” said Pitts. The 88,000 square foot building will be constructed on the east end of the existing shopping center adjacent to Staples. It is expected to open in the later part of 2019.
This will be the seventh Arizona location for At Home, which is based in Plano, Texas. Velocity Retail Group has worked with At Home on their store locations in the Phoenix area since 2007. Velocity Retail continues to seek new locations for At Home as the retailer has plans to add additional stores in major markets in Arizona. At Home operates over 165 locations in 30 states.