Nebraska Furniture Mart Closes on Dallas-area Property

Gary Evans -- Home Textiles Today, 12/19/2011 2:00:00 AM

DALLAS - Nebraska Furniture Mart has closed on 433 acres here, clearing the way for the Omaha, Neb.-based retailer to build its fourth and largest store in The Colony, a north Dallas suburb.
     Citybizlist.com, a Dallas real estate website, which reported the closing, said other buyers also had invested in property near the NFM parcel. The mixed use development is expected to require an investment of $1.5 billion.
     In an earlier interview with sister publication Furniture/Today, executives at Nebraska Furniture Mart said tentative plans were for construction of a 1.8-million-square-foot complex with a 546,000-square-foot showroom. NFM estimated that the store could do $600 million to $800 million in annual sales.
     The store would be part of large development that would include other retailers, hotels, a convention center, and other businesses. NFM said it would likely begin construction in the spring, with completion some time in 2015.