Major Greeley Mall tenant At Home moving to Johnstown – Greeley Tribune
At Home Group Inc. (NYSE: HOM) will move from Greeley Mall to Johnstown next year, leaving the second anchor tenant in recent months.
The Plano, Texas-based furniture retailer has confirmed to BizWest that it will be moving to 4900 Thompson Parkway in JohnsTown Plaza and offering positions to all current employees in the Greeley Mall.
“The new store opens in February and is located in a more dynamic retail hub on the east side of I-25 and Highway 34,” said an At Home spokesman.
Upon departure from Home, Cinemark Holdings Inc. (NYSE: CNK) and Team Tom Gym will remain in the mall as remaining anchor tenants. JC Penney Co. Inc. gave up its anchor tenant position at the mall months ago after the store closed 846 stores nationwide as part of a bankruptcy reorganization. The retailer also closed its Fort Collins location.
Moonbeam Leasing & Management LLC, the group that owns and operates the mall, did not provide a representative for an interview or respond to requests for comment on Thursday and Friday.
The pandemic and the resulting restrictions to prevent the spread of COVID-19 posed a major threat to retailers and the malls across the country where they were housed. It was announced locally that the Fort Collins’ Foothills Mall is behind schedule this week.
However, Ben Snow, Greeley’s economic development manager, was optimistic about the mall’s future. He pointed to a relatively high occupancy rate prior to the pandemic and believes the open spaces created by the demolition of the former Sears building, plans for affordable housing development nearby, and visibility from the freeway will attract new retailers to the area.
“I think we just have to be open to what these shifts are going to bring, unlike anyone who feels like we’re all going to hell in a hand basket and it’s good night Sally, it’s over” , he said. “There is a kind of churn and cycle that goes with real estate that is like churn and the cycle of developments in the larger economy. I’m not naive about the reality that many businesses are facing a rough sledding and some properties are going to be a rough sledding until the vision of conversion manifests, but the fact that it will be pretty much me optimistic. “
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