Kristena Hansen at the Phoenix Business Journal reports a Colorado-based home furniture company plans to bring 300 new jobs and generate $46.6 million in capital investment to metro Phoenix by building a massive 550,000-square-foot facility in Gilbert, according to a city statement Wednesday.
American Furniture Warehouse, which is based in Englewood, Colo., and has a dozen locations statewide, also has high hopes that the new Gilbert store will be its biggest money-maker yet.
The city said the new furniture warehouse is projected to rake in $120 million worth of sales within its first year of operation — comparable to more than one third of American Furniture’s total combined revenue this year for all its existing stores.
The Gilbert location, which could open in about a year, would be American Furniture’s first store outside of Colorado and also the first of two Phoenix-area stores the company is looking to open. The second location will likely be in the West Valley, although timing of it and exact location is unclear.
Interestingly enough, the exact location of the Gilbert facility is also somewhat of a mystery.
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