From Home Furnishing Business
American Furniture Warehouse to Sell Property
Furniture retailer American Furniture Warehouse, which had plans to build a store in Colorado Springs, Colo., appears to be ditching those plans. The 35-acre tract is now on the real estate market.
American Furniture Warehouse appears to be abandoning its Colorado Springs expansion.
In May 2011, the suburban Denver-based retailer purchased a nearly 35-acre site along Powers Boulevard for $8.29 million, envisioning it as the site for a second Springs store.
But the property, southeast of Powers and Woodmen Road, is now for sale.
At the time the land was purchased, American Furniture Warehouse president and CEO Jake Jabs said the retailer planned a 120,000-square-foot showroom and a 100,000-square-foot warehouse on the site. American Furniture's only Springs' location - a 115,000-square-foot showroom with 30,000 square feet of storage - opened in 1999, west of Interstate 25 and Fillmore Street.
In March of this year, Jabs reiterated those plans, although he added a caveat by saying he wanted to see what effects Department of Defense spending cuts would have on Colorado Springs.
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Source: The Gazette