Ashley Furniture acquires location in Hawthorne, Calif.
New HomeStore unit will be operated by Stoneledge Furniture
Furniture Today Staff -- Furniture Today, March 5, 2010
HAWTHORNE, Calif. — Ashley Furniture Inds. has acquired a 34,000-square-foot former Circuit City location here for a new Ashley Furniture HomeStore as the giant maker and retailer of home furnishings continues its expansion in Southern California.
The store will be located on Ocean Gate Avenue in the South Bay area of Los Angeles County, according to a news release from Hodgdon Group Realty, which represented Ashley in the property deal. A purchase price was not disclosed, and Hodgdon didn't say when the store would open.
"Although the real estate market is still challenging, it has provided a great opportunity for Ashley, the No. 1 retailer and manufacturer of furniture in North America, to acquire vacant big-box spaces ... and transform them into great showrooms," Hodgdon President Aaron Hodgdon said.
He added the company is negotiating for Ashley on several other locations in the area, too.
In an e-mail, Hodgdon confirmed the store will be run by Stoneledge Furniture, which operates other HomeStores in Southern California.
In October 2009, Ashley acquired a former Wickes Furniture store for a HomeStore in Victorville, Calif., in a deal valued at $4.25 million, according to reports. Before that, it acquired a former Wickes location in Palmdale, Calif., which opened in October.
Earlier in 2009, Ashley two acquired industrial buildings in Colton, Calif., to expand its distribution operations there to about 1.4 million square feet.
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Ashley adds new location in California
Apr 17, 2010
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