La-Z-Boy Looks for Locations
July 1, 2008
La-Z-Boy, Inc. trades as La-Z-Boy at 366 locations nationwide. The stores, offering upholstered furniture, including sofas, loveseats, recliners, sleep sofas, in addition to modern modular furniture and leather furniture, occupy spaces of 15,000 sq.ft. to 21,000 sq.ft. in freestanding locations, malls and lifestyle and power centers. Plans call for 30 to 35 openings throughout the existing market during the coming 18 months. Typical leases run 10 years. Specific improvements are required. Preferred cotenants include Bed Bath & Beyond, Home Depot, Lowe’s Home Improvement and Target. Preferred demographics include a population of 200,000 within 15 miles earning $65,000 as the average household income. A land area of 1.75 acres is required for freestanding locations.
