Provident Realty Advisors has acquired a 491,308-square-foot warehouse in Las Colinas that is currently occupied by Neiman Marcus, according to Dallas County deed records. Neiman Marcus, which sold the facility, recently told the Business Journal that 420 people work there. The company plans to occupy the facility through fall 2022.
Terms of the deal were not disclosed. Dallas-based Provident Realty recently told the Dallas Morning News that it plans to add 250,000 square feet to the back of the building. The facility currently includes 400,000 square feet of warehouse space and about 90,000 square feet of office space.
“We will begin construction after Neiman’s leaves the facility, and the construction and renovations will take 10 to 12 months,” Provident Realty’s John Bunten Jr. told DMN earlier this month.
Read the full story at Dallas Business Journal.