Two months ago we were able to confirm that Trader Joes is finally coming to Little Rock. This is something that the other media outlets in the state confirmed yesterday.
Today we had a chance to look over the plans for the location officially addressed at 11500 Financial Center Parkway (former Toys R Us location) and can finally add a few details of the plan.
The building is going listed at 15,411 s.f. of total space. In that, they are planning for 10,466 s.f. of total retail area. This means that the total square footage will be on the high end for Trader Joe’s. Most sources quote the average store between 8,000-15,000 s.f. with the typical model being 10,000.
Trader Joes averages $1,734 per square foot on average according to a 2014 report (highest of any retailer, and likely higher now). At the 1.5% sales tax rate, it stands to bring in over $400k in tax revenue for the city.
We are hearing the store is set to open far quicker than we, or anyone else, expected. We are hearing that they have an anticipated construction completion date of September 9th. That puts them opening somewhere between late September and mid-October depending on how aggressive they decide to be with stocking and staffing. So you should be able to sprinkle everything bagel seasoning on all your Thanksgiving dishes.
We will continue to look for progress updates on Trader Joes.