Tuesday, October 09, 2012

Restoration Hardware picks Grand Prairie for $22M distribution center


Restoration Hardware Holdings Inc., a high-end furniture and decorations company, is planning to build a $22 million, 850,000-square-foot distribution facility in Grand Prairie, after striking an economic incentive deal with the city.
The facility would serve as the California-based company's new southwest regional distribution hub.
Restoration Hardware plans to create a minimum of 10 jobs at the distribution center and expects to spend $10 million on business personal property. The retailer did not immediately respond to a request for an interview.
W.R. Pioneer Parkway LLC is the developer of the project. The Texas Comptroller's office lists the limited liability company's address as 3350 Riverwood Pkwy., Suite 700 in Atlanta, Ga., which is the same address as Atlanta-based Weeks Robinson. When reached by phone Thursday, Weeks Robinson CEO Forrest Robinson declined comment. Weeks Robinson has been expanding its North Texas holdings and has purchased several large industrial properties in the region in the past two years.
The project will be one of the largest industrial real estate deals in North Texas this year.
It also comes at a time of growth for Restoration Hardware. Last month, the company began plans for a $150 million initial public stock offering. It plans to use the ticker symbol RH and also adopt that as its brand. The company has reported double-digit revenue growth for the past 10 consecutive quarters as it has moved its retail model to fewer stores and more Internet sales.

Candace Carlisle
Dallas Business Journal