A new home goods retailer is slated to set up shop in South Austin, aiming to fill the void left by Buy Buy Baby's departure. TJX Companies Inc. is expanding its reach in the Texas market with the addition of a HomeSense store at 5400 Brodie Lane in the Sunset Valley area, according to the Austin Business Journal.
HomeSense, which falls under the TJX umbrella, specializes in furniture and home decor. The company is taking over a nearly 29,000-square-foot space, marking its first footprint in Texas, despite having a presence in 12 states, as well as internationally in the United Kingdom, Ireland, and Canada. When reached for a statement, HomeSense didn't respond, but Kimco Realty’s Doug Schooley confirmed that HomeSense will be a new tenant, as the realty firm manages and leases the property in question.
Joining its sibling brands T.J. Maxx and HomeGoods, HomeSense will occupy part of the Sunset Valley Marketfair shopping center, a hub that includes a variety of other retailers like Ross, The Home Depot, and Michaels. Renovations for the new HomeSense are expected to kick off on Feb. 15, with estimated project costs of around $1.5 million, per Austin Business Journal.
Schooley estimates that HomeSense could open its doors sometime between late third quarter and early fourth quarter of this year. While specific lease terms were not disclosed, the transaction was facilitated by representatives from Rise Commercial Partners and Edge Realty. A tight retail market with high occupancy rates and rising rents suggests a welcoming environment for the retailer's Texas debut.
HomeSense's arrival comes as part of a series of retail shifts within Austin. With a former H-E-B site and a Randalls store being repurposed by Floor and Decor and Hobby Lobby respectively, and with new movements like IKEA's potential entrance into The Domain, the capital city is witnessing a notable redevelopment of its retail spaces.
