By AZ Business Magazine | AZ Big Media
The City of Phoenix has been selected by The RealReal, Inc. (Nasdaq: REAL) — the world’s largest online marketplace for authenticated, consigned luxury goods — as the site for its new e-commerce center. The company signed a lease to expand its physical footprint with nearly 600,000 square feet of warehouse space in Greater Phoenix.
“This expansion by The RealReal into Arizona is the latest in a string of big economic development wins for our state,” said Governor Doug Ducey. “We thank the company for creating hundreds of new job opportunities to support this e-commerce operations and technology center.”
The Phoenix facility, which The RealReal anticipates being fully operational by fall 2021, will help support the company’s growing operations, including its retail expansion, which encompasses a rollout of smaller format retail locations over the coming months.
