City Furniture has chosen Central Florida as a focus of expansion, with the retailer placing its next local stake in Altamonte Springs.
The middle- to upper-class furniture dealer has a 7.3-acre parcel under contract for $6 million at the corner of W. Central Avenue and Douglas Road.
It will be soliciting bids for general contractors and spending several million dollars building a two-story, 110,000-square-foot showroom and 30,000-square-foot office building, which it will lease out to a furniture-related enterprise.
City Furniture already has 16 locations, most in South Florida but two in Lady Lake and The Villages of Lake County. The company wants to build its way up the state, vice president of real estate Rick Hasslinger told GrowthSpotter.
City Furniture "has embarked on an expansion plan in Central Florida where we will be opening in vibrant areas," Hasslinger said. "We know Orlando is a booming place and we want to be where the booming is."
As for choosing Altamonte Springs, "it's a matter of location and demographics," Hasslinger said.
The site is just off Interstate 4. "We like to be off thoroughfares if and when we can," he said.
The company hopes to find two more Central Florida locations by the end of the year, "but it's becoming more and more difficult to find land," Hasslinger said.
The company's headquarters is in Tamarac, Broward County. It is also the owner and operator of 10 Ashley Home stores in South Florida.
Right now, City Furniture is in the plat review process with Altamonte Springs for a layout that will include 338 parking spaces.
The outdoors area will have a park-like setting, while inside will feature a café and wine bar.
Building is expected to start this year, with completion a year from the start date.