A Pier 1 Imports is expected to open in Arroyo Grande as soon as June 2013.
Construction on a new, 9,400-square-foot building in the Five Cities Center located off West Branch Street is anticipated to start Oct. 1, said Dave Pintard, director of leasing for Investec Real Estate Companies, which owns most of the shopping center.
The Arroyo Grande City Council approved the project in March. As part of the approval, the size of the building was reduced and the use of the building was changed from office to retail.
Investec is funding the development of the building and has a long-term lease with Pier 1 Imports, Pintard said. He declined to estimate the cost of planning and development, nor would he disclose the lease amount.
The Pier 1 store will be built at 901 Rancho Parkway on what is now a dirt lot near Trader Joe’s, Chili’s Grill & Bar, Baja Fresh, Verizon Wireless and Petco.
City officials approved construction of the Five Cities Center in 1996, including 14 commercial buildings to be constructed in two phases. Walmart is an anchor tenant of the center.
The Pier 1 store will be San Luis Obispo County’s second; another store is located off Theatre Drive in Paso Robles. Pier 1’s San Luis Obispo location closed in 2004.
According to its website, Pier 1 Imports started in San Mateo in 1962. Since then, the retailer, which specializes in home furnishings and décor, has grown to more than 1,000 locations in North America.