Growing furniture consigner buys space in Reno
Al Rock, managing member of Consign Furniture, says the money he’s saving each month after purchasing his own building rather than leasing space will allow him to expand his business to a third location.
Rock recently opened Consign Furniture in a 24,000-square-foot space at 6865 Sierra Center Parkway (the former home of Sierra Trading Post). The purchase, funded by Heritage Bank and the Nevada State Development Corporation, includes 8,500 square feet of vacant space and 10,000 square feet currently occupied by Famous Footwear.
Consign Furniture had been operating out of 21,000 square feet on Market Street since 2008. Rock estimates he’s saving about $10,000 a month in operating costs in the new location.
“The main driver (of the move) was being able to get our own building,” he says. “We bought it for $2.2 million. It just seemed like really good price. It gives us more room to expand the company, whether we do it in Spark or another town, but it gives us the opportunity to expand the company.”
Consign Furniture was founded in an 8,000-square-foot location on Moana Lane in 2008 and outgrew that location in under a year. Here’s how the company works: Consign Furniture picks up customers’ furniture from their homes — on a scale of 1-10, the company only sells furniture graded 8 or higher — and sells it from its showroom floor. The company keeps the furniture for six weeks, and if it hasn’t sold the owner can either pick it up or let Consign Furniture hold it for another four weeks. Proceeds are split down the middle, and prices average about half of retail, Rock says.
“That is good deal for the consumer and for the consigner, too; that’s right in the wheelhouse,” Rock says.
With about 400 pieces of furniture moving through his doors every week, inventory constantly is changing, Rock says.
Consign Furniture expanded in 2012 to a 25,000-square-foot space in Post Falls, Idaho, near Coeur d’Alene. Rock looks now at taking the concept to Sparks or to Lewiston, Idaho, for a third location.
“Our business really is going good, and we have a lot of room to expand,” he says.
Joel Fountain of Sperry Van Ness assisted Rock with transaction negotiations, while Roxanne Stevenson of Colliers International assisted the seller.
Gov. Steve Sisolak made it clear Wednesday night his latest directive urging as many Nevadans as can to stay home is not martial law but a plea for everyone not in a critical, essential industry to not go out and possibly spread the coronavirus.