Cost Plus World Market will close its longstanding store in Smyrna at the end of the year. Located in Heritage Pavilion on Cobb Parkway, Cost Plus occupies a prized freestanding junior anchor space in the sprawling center. The Cost Plus space measures 18,750 square feet, provides premium visibility from Cobb Parkway, and is close not only to Cumberland Mall but also Truist Park and I-75.
ToNeTo Atlanta reported December 16 that Bed Bath and Beyond, parent company of Cost Plus, had reached a deal to sell the home furnishings retailer to a private equity firm. Terms of the deal were not disclosed but Bed Bath & Beyond paid $495 Million to purchase Cost Plus in 2012.
Heritage Pavilion, previously owned by SITE Centers and today owned by Nuveen Real Estate, is home to several successful retailers including a combo HomeGoods/TJ Maxx store, Marshalls, Ulta Beauty, PetSmart, American Signature Furniture and Shoe Carnival, among others. The Cost Plus space is not yet shown as vacant or available on the center's site plan, but is the only known vacancy in the development.
There is an ever-dwindling list of retailers capable of backfilling a store the size of Cost Plus but we are confident there will be a replacement tenant(s) for the junior anchor box in the new year.
Are you surprised to see Cost Plus World Market closing its Smyrna store? What is your favorite home-goods retailer? What would you like to see replace Cost Plus World Market in Smyrna?
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