Heritage Park, a ample bartering acreage with amateur freeport tax exemptions in Mansfield, has a new owner. The 460,000 aboveboard bottom architecture is the above administration hub for Pier 1 Imports.
The account follows the unwinding defalcation and auction of the retail alternation to Retail Ecommerce Ventures, a aggregation co-owned by amusing media influencer Tai Lopez and above NASA scientist Alex Mehr. The new owners paid $31 actor for Pier 1′s bookish acreage and say they are advancing to barrage a new e-commerce business beneath the 58-year-old brand’s name in backward August.
Pier 1 Imports got cloister approval to advertise its administration centermost in Mansfield for $18 million, bringing in $3 actor added than a starting offer, according to a Bloomberg Law article. Mansfield-based Lonejack II LLC purchased the property, according to a account release. In accession to the ability itself, Lonejack acquired the actual accessories and furniture.
“We’re amorous about the connected advance of the Mansfield business association and are aflame to add this acreage to our accretion portfolio,” says James Sellers, administrator of Lonejack II and Admiral & CEO of adjacent Sellmark. “This burghal is a abundant abode to operate, and we can’t delay to see what businesses absorb this amplitude and accord against Mansfield’s growth.”
Those accustomed with the acquirement say the new owners plan to charter out the architecture to addition tenant/operator.
Despite the bread-and-butter ancillary furnishings of COVID-19, the automated absolute acreage submarket has remained strong.
“As the appeal for automated amplitude beyond the country charcoal strong, we accept Heritage Park offers the different befalling to accomplish in one of the arch action markets in Dallas-Fort Worth,” says Sarah LanCarte, architect & admiral of LanCarte Commercial, the aggregation that marketed the property. “This is a highly-functional architecture with aberrant admission at a aggressive rate. There are few backdrop like it, and we apprehend to see absolutely a bit of activity.”
Heritage Park is amid at 2200 Heritage Parkway.
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