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News HomeGoods Now Open in Downtown Crossing

TJX Companies opened their third concept in Boston’s resurgent Downtown Crossing shopping district by adding HomeGoods to the existing Marshalls and T.J.Maxx locations on the bustling Washington Street corridor. This newest store opening adds to what has already been a great comeback story for Boston’s historic department store district. In 2015 Primark and Roche Bros Supermarket opened in the former Filene’s and have each expanded beyond their original spaces. Numerous redevelopment proposals are in the works, sparked by the long-awaited opening of Millennium Tower in 2016. This newest TJX location will certainly not be the last retailer to gain entry to this vital district in Boston.

While the Downtown Crossing opening is notable, it is hardly the only activity TJX has been undertaking in recent months. As the brand experiences nearly unparalleled sales success, it continues to grow its footprint. Company reports indicate that TJX plans to increase its US square footage 4.5% from Q2 2018 to Q2 2019 which equates to nearly 3.6M SF of new selling space across all five US concepts, this follows similar growth from 2017 to 2018.

For those of us in TJX’s hometown, this success is not surprising. The retailer has always been known for great values and pioneering the “treasure hunt” shopping experience that defied the onslaught of online competition. In fact, TJX is drawing a younger demographic than it has before as it expands its product offerings and improves its store experience to keep its large customer base coming in the front door.

Atlantic has experienced its own treasure hunt from a real estate perspective by trying to find new opportunities for an such an established retailer in an already constrained market. Since early 2017, Atlantic Retail has completed more than eighteen new deals across all five TJX concepts throughout New England. TJX has seized this moment to enter new markets with new concepts and solidify its hold on existing markets through strategic relocations.

Posted 12/3/18

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