New stores will open at centers in Texas, Virginia and Tennessee
CHARLOTTE, N.C. (December 16, 2024) — The partnership between Big V Property Group and TJX Cos. continues to grow in 2024, with the open-air center manager completing six new leases across its portfolio with the off-price giant.
The company has signed leases for its Sierra, Homesense, and Marshalls concepts for a total of 74,577 square feet in Texas; a TJ Maxx, HomeGoods and Homesense store of 80,000 square feet in Virginia; and a 25,626-square-foot Homesense store at The Avenue in Murfreesboro, Tennessee.
“This is a tremendous commitment from TJX, and a validation of our business strategy of acquiring open-air centers and adding value to them through strategic re-leasing and renovation,” said Tony D’Ambrosio, Vice President of Acquisitions and Dispositions at Big V Property Group. “In addition, in a period of little new construction, it makes sense for retailers to find locations in prime existing properties, and we have the projects and the construction expertise to configure our rare vacancies to their needs.”
The new locations at The RIM are part of an overall reimagining of the mixed-use complex with 1.2 million square feet of national, regional and local retail, two hotels with a combined 200 rooms, and six residential buildings with 4,500 to 5,000 condominiums and apartments around The RIM.
“Big V Property Group acquired this center in 2021 with the goal of adding even more value to this already dominant property,” said Greg Ix, Senior Vice President of Leasing at Big V Property Group. “Adding these TJX concepts provides even more choice and value for northwest San Antonio and gives TJX a terrific location in a dominant center where many retailers have their top-performing stores.”
In Virginia, the TJMaxx/HomeGoods store will join Academy Sports in occupying a 92,000-square-foot former Burlington location.
“This entailed a complex division of façades and infrastructure, including plumbing, HVAC and more, of what had been a single location into two distinct stores,” said Scott Cozzali, Vice President of Construction.
Acquired in 2020, The Avenue Murfreesboro offers 853,000 square feet of lifestyle and power center tenants, anchored by H&M, Belk, Bar Louie, Barnes & Noble, Havertys, Old Navy, Dick’s Sporting Goods, Buffalo Wild Wings, Best Buy, ULTA, and Burlington. The center is ideally located on Medical Center Pkwy, with frontage on Interstate 24, in an affluent and growing trade area within commuting distance to Nashville.
“Building value in a retail property, even one as dominant as The Avenue is a step-by-step process,” Ix said. “Adding Homesense to The Avenue adds yet another value component to our mix, which includes dining, fashion, home furnishings, books, sporting goods and more. It’s additional value to our shoppers and our investors. And we’ll keep on doing that throughout our portfolio.”
About Big V Property Group
Big V Property Group owns and operates over 50 neighborhood and community shopping centers totaling over 9.5 million square feet, primarily located in the southern region of the US. Big V Property Group is headquartered in Charlotte, NC with major offices in Murfreesboro, TN, San Antonio and Austin, TX, and Florida, NY. For further information, please visit bigv.com.