Tag: Nebraska Furniture Mart

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Berkshire Hathaway’s Nebraska Furniture Mart (NFM) has begun construction on its second Texas location in Cedar Park, about 16 miles northwest of Austin. This new project, located 200 miles from NFM’s massive Grandscape development in The Colony near Dallas-Fort Worth, marks a significant expansion for the retail giant.

The Cedar Park project spans 118 acres, smaller than the 433-acre Grandscape, but still ambitious. Plans include a 500,000-square-foot NFM store, a 700,000-square-foot warehouse, a 250-room hotel with a 30,000-square-foot city-owned convention center, and 250,000 square feet of commercial space. The development is expected to generate $435 million in tax revenue for Cedar Park over 25 years, with an initial $400 million investment and 725 jobs created by its opening in late 2026 or early 2027.

NFM CEO Tony Bolt began searching for a second Texas site in 2019, ultimately selecting Cedar Park for its strategic distance from Grandscape. The new location aims to leverage NFM’s strong brand recognition without cannibalizing existing business, replicating the success of Grandscape’s blend of retail, hospitality, and entertainment offerings. The addition of a Scheels sports superstore has already been announced, signaling the development’s potential as a major regional attraction.

© 2024 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.

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Berkshire Hathaway’s Nebraska Furniture Mart has won key zoning approval for its new Austin development. NFM is set to build a retail, hotel, and convention center in Cedar Park, a town located 16 miles north-west of Austin.

The Cedar Park City Council unanimously approved the rezoning of the 118-acre parcel, with construction anticipated to begin in 2024.

The development will comprise a 250-room hotel with a 30,000-square-foot convention center, 250,000 square feet of commercial space, a 500,000-square-foot NFM store, and a 700,000-square-foot warehouse servicing NFM.

The city of Cedar Park has offered $45 million in performance-based rebates if Berkshire invests $400 million and creates 725 jobs in the first year of operation. NFM’s CEO Tony Bolt chose Cedar Park after searching for a second Texas location, and it will complement NFM’s Grandscape development in Dallas-Fort Worth.

© 2023 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 a 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.

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Berkshire Hathaway is doubling-down on its mega-store strategy in Texas. Berkshire’s NFM (formerly Nebraska Furniture Mart) will build a second store located 200 miles from its Grandscape development located in The Colony in the Dallas-Fort Worth area.

The new store will be located in Cedar Park, a town that is 16 miles to the north-west of Austin.

While Berkshire’s plans are big, they are not the scale of its 433 acre Grandscape development.

The Cedar Park Development will feature a 250-room, full-service hotel that includes a 30,000-square-foot, city-owned convention center; a 250,000 square feet of commercial development; a 500,000-square-foot NFM store; and a 700,000-square-foot warehouse servicing NFM.

NFM’s CEO Tony Bolt began searching for a second Texas location in 2019, and finally settled on Cedar Park, which at roughly 200 miles from its Grandscape development in The Colony in Dallas-Fort Worth, will not pull away any business. The new location is close enough to benefit from NFM’s strong name recognition that it established when it built not only the largest furniture and appliance retail store in the U.S., but also a retail and mixed-use development that includes hotels, offices, entertainment.

© 2022 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.

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With new employees hard to come by, and the need to retain current employees critical, Berkshire Hathaway’s Nebraska Furniture Mart is raising its pay for its warehouse workers.

Current warehouse workers at its Dallas-Ft. Worth location at The Colony will receive a pay raise of at least 9 percent, and new hires will be paid between $18.58 to $23.13 an hour, depending on experience and qualifications.

“Nebraska Furniture Mart’s goal is to be the employer of choice in each of our markets,” said Megan Berry Barlow, Human Resources Director, in a statement. “Our new higher wages will help us achieve this goal, along with a 7% annual raise potential, a great benefits package and a unique, fun work culture.”

© 2021 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.

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Electric Gamebox, a British entertainment concept centered on interactive gaming, has opened a 4,000-square-foot venue at Berkshire Hathaway’s Grandscape, the 433-acre mixed-use destination in the northern Dallas suburb of The Colony.

The venue is Electric Gamebox’s first in the United States.

Founded by Will Dean, the man behind Tough Mudder, and David Spindler, who conceived and launched the Tough Mudder Bootcamp franchise, Electric Gamebox is founded on the belief that technology should bring people together versus driving them apart.

Berkshire Hathaway’s Nebraska Furniture Mart is leading the development of the retail components of Grandscape. The furniture, appliances and home furnishings retailer opened in 2015, and anchors the development with 560,000 square feet of showroom space divided between two floors and covering 100 acres in total.

© 2021 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 a 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.

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A 1770-foot, multi-level kart racing circuit is coming to Berkshire Hathaway’s Grandscape, The Colony, North Dallas as a part of the opening of the newest location of Andretti Indoor Karting & Games.

At the heart of the experience is kart racing. A large, professionally-designed track, will run over three levels and feature banked semi-ovals, dive under, fly over, spiral ramps, exhilaratingly long straights any many more. The three-elevation change with the highest point on 42,65 ft will guarantee an ultimate driving experience.

The Grandscape location will include other attractions such as arcade games, ropes course, racing simulators with VR technology, a two-level laser tag arena, and boutique bowling.

The attraction is scheduled to open in March 2020.

Andretti Indoor Karting and Games was founded in 2001 in Orlando, Florida, and has four locations: one in Orlando, Florida, two in Georgia in Marietta and Roswell, and one in San Antonio, Texas.

© 2019 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.

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When your highest volume store is a 9-hour drive from Omaha, Nebraska, it makes sense that Nebraska Furniture Mart would look at its branding.

Much like how Kentucky Fried Chicken evolved into KFC, in order to reflect that it had more than fried chicken, Berkshire Hathaway’s Nebraska Furniture Mart is streamlining its logo branding to NFM.

After all, it’s 658 miles from Omaha, Nebraska to Dallas, Texas, and a store named for a faraway state may not resonate as much in Texas.

“It’s not an official name change, just a logo update, Nebraska Furniture Mart spokesman Andy Shefsky told the Dallas Morning News. “We sell a lot more than just furniture, and we’re in a lot more than just Nebraska,” he said. “It’s simply modernizing, reflective of who we are as a company, but not forgetting that Nebraska is our everything.”

The Dallas store will see its Nebraska Furniture Mart exterior signage replaced with NFM sometime in the spring of 2020.

© 2019 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.