Altar'd State is moving its headquarters from Maryville to Knoxville to accommodate the company's growth after purchasing a chunk of the former Warner Bros. Discovery office campus.
The fashion company, as AS Realty 1 LLC, purchased one third of the campus from Apex Bank for $27 million on Oct. 17, according to Knox County property records.
In March, Apex Bank purchased the 33-acre property at 9721 Sherrill Blvd. for $35 million and later divided it into three parcels.
The 10-acre parcel Altar'd State purchased, located at 550 Frank Gardner Lane, includes a 155,000-square-foot office building, "satellite dish farm," and a 543-space parking garage, Knox County Register of Deeds Nick McBride told Knox News.
Why did Altar'd State purchase Discovery property?
The company plans to relocate its home office from Maryville, according to a press release from Stand Out For Good Inc., the parent company of Altar'd State.
"I never expected our brands to outgrow three buildings in 13 years," Stand Out for Good Chairman and CEO Aaron Walters said in the release. "Our new home reflects our commitment to providing a creative and productive workplace for our evolving team.”
Amenities on the property, the pond, nearby walking trails and a fitness center, were driving reasons for the purchase, according to the release. The company hopes the new location will, "foster a dynamic and collaborative workplace culture for Stand Out For Good."
The company's move is expected to be complete by late 2023.
What is Altar'd State?
Altar'd State is a women's fashion company, selling clothing, jewelry and shoes.
The company has four sister brands:
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Arula: women's mid and plus-size clothing
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AS Revival: activewear and accessories
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Tullabee: children's clothing
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Vow'd: bridesmaid and wedding clothing and gifts
Between all stores, Stand Out For Good has a presence in 38 states, according to the release.
Altar'd State has a location in Turkey Creek, a joint Altar'd State and Arula location and a Tullabee at West Town Mall. There's a Vow'd on Market Square in downtown Knoxville.
Will Apex Bank stay at former Discovery property?
Apex Bank will retain its headquarters at the property.
The move to sell a portion of the property isn't a surprise, as Apex President and CEO Matt Daniels previously told Knox News the bank would not occupy the whole space and planned to rent out portions to other companies.
Apex Bank Senior Vice President and Head of Marketing Santiago Cuccarese told Knox News the bank will continue to look for tenants.