The off-price retailer HomeGoods will open a store in Royalton Collection, a proposed office-retail development on Ohio 82, across from SouthPark Mall.
STRONGSVILLE, Ohio – HomeGoods, an off-price retailer with more than 700 stores in 48 states and Puerto Rico, will open a store in Royalton Collection, a proposed office-retail development on Ohio 82, across from SouthPark Mall.
It’s the first formally announced retail-tenant signing by Somera Road Inc., a New York-based firm that is developing Royalton Collection.
HomeGoods, among other merchandise, sells kitchen and gourmet cookware, accent furniture, lights, rugs, decorative accessories, pillows, wall art, bedding, bathroom items and toys.
“We couldn’t ask for a better anchor tenant at Royalton Collection than HomeGoods,” Joe LeMense, vice president of asset management at Somera Road, told cleveland.com in an email. “They’re one of the most heavily sought-after retail tenants in the country.
“Their decision to lease with us is not only a testament to our center’s appeal but to the Strongsville market in general,” LeMense said.
HomeGoods will occupy about 75 percent of a 30,500-square foot building, according to Hope Wheeler, Somera Road spokesperson. Three additional retail buildings in Royalton Collection will measure 16,500, 16,000 and 4,800 square feet.
Also, Somera Road is close to signing a lease with a “national operator” for an outparcel in Royalton Collection, Wheeler said. And in November, Foundation Software Inc., a seller of software and payroll services targeting the construction industry, announced that it was moving into the former Medical Mutual of Ohio building, the sole office space in Royalton Collection.
In addition, Royalton Collection will include Panera Bread, which will relocate about 1,400 feet west from its existing location at 17090 Royalton Road.
Wheeler said HomeGoods is scheduled to open in early 2020. Construction of Royalton Collection is scheduled to begin in early 2019.
HomeGoods was established in 1992 in Milford, Massachusetts, according to Callie Barkley, HomeGoods spokesperson. Today the company’s headquarters is in Framingham, Massachusetts.
HomeGoods has 22 stores in Ohio, including those at Marketplace at Four Corners in Bainbridge, Avon Commons in Avon, Easton Market in Columbus, Fairlawn Town Center in Fairlawn, Creekside Commons in Mentor, Oakwood Commons in South Euclid and on Lorain Road in North Olmsted.
According to the company’s website, HomeGoods’ prices are between 20 percent and 60 percent lower than those at department and specialty stores. The company purchases products from around the world that designers overproduce, or other stores overbuy, and pass on the savings to customers.
HomeGoods says it’s not an outlet store because it buys “from thousands of vendors around the world,” not just one manufacturer.
Tori Nook, of the Beachwood real estate broker Anchor Cleveland, which helped bring HomeGoods to Strongsville, said her firm was excited to be involved in the deal.
“(Royalton Collection) is one of the largest new construction projects in years to be built in northeastern Ohio,” Nook said in an email. “Many tenants have been wanting to get into the Strongsville market or even expand due to the market being one of the strongest trade areas in Northeastern Ohio.”
Note from WSOE.Org : This content has been auto-generated from a syndicated feed.