THE COLONY, TX—Nebraska Furniture Mart has acquired a massive 433 acres parcel here to house its retail and distribution hub and a surrounding master-planned retail and entertainment development. The retailer has begun marketing the project as “Grandscape,” and

preliminary plans include a convention center hotel and spa, restaurants and an outdoor amphitheater, says the Dallas Business Journal.

“We don’t typically lease out real estate around the store,” said Jeff Lind, chief strategy and development officer for Nebraska Furniture Mart of Texas. “We wanted to have control over creating a truly unique development unlike any other in the state of Texas.”

Nebraska Furniture Mart has been in Omaha since the inception of the company and its only other location in Kansas City was part of an existing planned development. The retailer’s project has inspired similar land deals in The Colony, boosting land prices along the Sam Rayburn Tollway corridor in Denton County.

Dallas-based O’Brien & Associates is the project architect. Turner Construction is the general contractor on the development. Numerous other companies and individuals are working on the project, he said.

Click Dallas Business Journal to read the full story.