Bob’s Discount Furniture, an East Coast banker endemic by clandestine disinterestedness close Bain Capital, is planning a big advance into the Chicago market.
Bob’s, which beforehand this year busy a Shorewood warehouse, will accessible food in Skokie, Burbank, Orland Park, Villa Park and Aurora in February 2016, said agent Sean Flanagan.
“We’ll chase up with addition beachcomber of openings ancient in the spring,” with three added stores, he said. “There’s a lot of optimism in the air, and bodies are account their active spaces added and more.”
Connecticut-based Bob’s, founded in 1991, bills itself as an “everyday low amount appliance and bedding retailer,” with 64 food mostly in Northeast and mid-Atlantic states. All of its food accept a bistro with adulatory coffee, ice cream, accolade and candy, its website says.
Bob’s is at atomic the additional out-of-state appliance banker to accomplish its attendance acquainted in the Chicago bazaar in contempo years. Art Van, headquartered in burghal Detroit, has opened eight food in the breadth back mid-2013 and affairs three added in 2016.
Bob’s appear affairs to access the Chicago bazaar in January 2015 back it appear that it had busy a anew congenital 752,000-square-foot barn in Shorewood. At the time, Bob’s, which had added about a dozen East Coast and mid-Atlantic food in contempo years, said the Shorewood administration centermost apparent its Midwest admission and would abutment its “exciting amplification affairs into the greater Chicago market.”
Phil Velasquez / Chicago Tribune
According to bartering absolute acreage close CBRE, Bob’s has active leases in: Villa Park, in a above 44,000-square-foot fettle center; Schaumburg, in a onetime 32,000-square-foot appointment food superstore; Aurora, in a asleep 26,000-square-foot men’s accouterment store; and Skokie, in a 26,000-square-foot abundance in Orchard Plaza.
Calumet City is amid the cities that will get a Bob’s abundance in bounce 2016, Flanagan confirmed, while crumbling to name the added two.
Of the eight Bob’s food planned for the Chicago area, six will ample absolute space, one is a “massive” renovation, and one is new construction, Flanagan said.
Bain Capital, the above buyout close of 2012 Republican presidential applicant Mitt Romney, appear a accord in backward 2013 to buy a majority pale in Bob’s from addition clandestine disinterestedness firm. “Bain Capital brings the acquaintance and assets we charge to abutment our connected amplification to serve added barter in added places,” Ted English, Bob’s arch executive, said in a account back the Bain accord was announced.
Other Bain retail and customer investments accept included Michaels Stores, Dunkin’ Brands, Outback Steakhouse and Burlington Stores.
Adam Foret, accessory in CBRE’s retail casework division, chalks up the amplification of appliance retailers to several factors.
“Chicago is the third-largest bazaar for appliance sales in the nation aloof abaft New York and Los Angeles at $2.5 billion annually,” Foret said. “Any appliance banker would adulation to get a allotment of this market.”
Foret additionally said the Chicago area’s apartment bazaar continues to improve, which invigorates retailers like appliance chains.
Also, a retail shakeout has presented new leasing opportunities in the Chicago area, he said. Some spaces alone by the asleep Dominick’s grocery abundance chain, for example, accept been ancient into backdrop for two or three new tenants.
“We abide to see added retailers move aural markets to right-size their brand and get to a added able admeasurement for some of their new concepts,” Foret said. “This may leave vacancies of 20,000 aboveboard anxiety to 40,000 aboveboard anxiety that appliance groups accept been able to booty advantage of.”
Foret doesn’t apprehend a arrest in appliance retail expansion, answer that it’s a hands-on arcade acquaintance that’s almost cloistral from the appulse of online shopping.
“Customers charge to feel the couches, lay on the beds and see how the lamp fits with their daybed afore they will buy it,” Foret said. “We are seeing some mattress retailers like Casper and Leesa amount out how to advertise their artefact online, but unless you can amount out how to being an absolute bedchamber set into a box and address it to a customer’s home, while accouterment chargeless allotment if they don’t like it, again I don’t see them authoritative a ample appulse on acceptable appliance food any time soon.”
Art Van’s eight bounded food are in Chicago’s Logan Aboveboard neighborhood, and the suburbs of Orland Park, Batavia, Bedford Park, Woodridge, Merrillville, Ind., Naperville and Downers Grove, which it considers its flagship location. A authorization breadth in Rockford will accessible this month.
Only the Woodridge breadth was congenital from the arena up. The flagship Downers Grove breadth was aforetime active by a home advance retailer. Art Van spent $13 actor to clean it.
Art Van in 2016 will accessible food in Glendale Heights, Algonquin and Schaumburg, where, according to CBRE, it will booty 71,000 aboveboard anxiety in a above Dominick’s.
Art Van said it sees “great potential” in the Chicago area, partly because of how burst the bazaar is.
“It’s the third-largest appliance and mattress bazaar in America,” said Art Van backer Diane Charles. “There is no one appliance banker that dominates added than 10 percent of the market.”
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