(BRK.A), (BRK.B)
Grandscape, Berkshire Hathaway’s giant mixed-use real estate development in The Colony, Texas, has broken ground on 1.5 million square feet of residential and office space that is billed as the lifestyle center for the development.
The lifestyle center will feature a luxury high-rise apartment tower that will also have retail and office space.
Located in the Dallas/Fort Worth area, Grandscape is being developed by Berkshire’s Nebraska Furniture Mart, and is home to its 1.86 million square foot store, which opened in 2015.
Berkshire is on a ten-year-plan to fill out the Grandscape property, with anchor retail and entertainment all on a Texas-sized scale.
In January, Galaxy Theatres agreed to build and operate an 85,000+ sf, 16-screen movie venue in the lifestyle center. The opening is scheduled for 2019.
Another anchor retailer that is already signed is Scheels All Sports, which is certainly familiar with the mega-sized nature of Grandscape.
Scheels currently operates the “World’s Largest All Sports Store,” which is located in Reno/Sparks, Nevada. No word yet whether the Grandscape store will eclipse it.
© 2017 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.