The City of Phoenix has been selected by The RealReal, Inc. (Nasdaq: REAL) — the world’s largest online marketplace for authenticated, consigned luxury goods — as the site for its new e-commerce center. The company signed a lease to expand its physical footprint with nearly 600,000 square feet of warehouse space in Greater Phoenix.
“This expansion by The RealReal into Arizona is the latest in a string of big economic development wins for our state,” said Governor Doug Ducey. “We thank the company for creating hundreds of new job opportunities to support this e-commerce operations and technology center.”
The Phoenix facility, which The RealReal anticipates being fully operational by fall 2021, will help support the company’s growing operations, including its retail expansion, which encompasses a rollout of smaller format retail locations over the coming months.
The RealReal’s Phoenix facility will create more than 1,500 local, full-time jobs over the next five years offering competitive pay, rewards and benefits.
“The City of Phoenix welcomes The RealReal. We know that a diverse job sector, driven by opportunities in the knowledge economy, will bring us into the future. The RealReal adds just that and more to our growing city,” said Phoenix Mayor Kate Gallego. “We are excited for The RealReal to move into their new home and look forward to their success.”
The company has an existing presence in the region through its partnership with the University of Arizona. In collaboration with the school, The RealReal created a degree program for gemology and will look to hire a selection of gemologists from the program. Additionally, in 2018, The RealReal funded an endowed chair in the Department of Geosciences to help the university develop new research and proprietary technology for gemological studies.
“Our focus is to bring back jobs and no group of the employment base has been more impacted by COVID-19 than the sector The RealReal will employ at scale,” said Chris Camacho, president & CEO of the Greater Phoenix Economic Council. “We’re thrilled the company has decided to expand and invest in Greater Phoenix at a critical time. The RealReal will benefit from our large, talented labor pool and ideal infrastructure.”
“Arizona continues to prove that our top talent, pro-business climate, and strategic location with access to major world markets are a winning combination for rapidly growing tech companies like The RealReal,” said Sandra Watson, president and CEO of the Arizona Commerce Authority. “We congratulate the company on its success and thank them for their commitment to Arizona.”
Shannon Aja and Rob Stephens with Newmark are representing The RealReal with its real estate transaction and continued expansion.
For more information about job opportunities at The RealReal’s Greater Phoenix e-commerce center, visit therealreal.com/careers.
