Houston-based Mattress Firm Inc. (Nasdaq: MFRM) is planning a spring opening for its first Springfield presence at 1610 E. Battlefield Road, a former Petland store.
KW Commercial real estate broker Chris Taylor said the publicly traded Texas retailer signed a 10-year lease with options for an undisclosed amount. Taylor, who represented property owner SGF LLC in the deal, said the list price for the 23,000-square-foot building was $14.50 per square foot.
Mattress Firm, which sells mattresses and bedding for such brands as Sealy, Tempur-Pedic, Beautyrest and Serta, is working through the permitting process for interior renovations, according to the permit summary on file with Springfield Building Development Services. The permit proposal lists estimated renovations costs of $195,000 and Florida-based Oliveri Architects as project designer.
Petland closed operations in spring 2012, Taylor said, and The Frank D. Winkler Replicable Trust bought the property roughly two years ago. Taylor said Winkler, a Joplin businessman and investor, recently moved the property under SGF LLC.
According to Greene County assessor records, the 2012 taxable appraised value of the building and 1.5-acre parcel was $2.14 million.
Founded in 1986, Mattress Firm operates 1,100 stores in 28 states, according to
MattressFirmInc.com. There are 43 stores in Missouri, largely in the Kansas City and St. Louis metro areas.
For the quarter ended Oct. 30, Mattress Firm reported net income of $12.5 million, or 37 cents per share, according to Securities and Exchange Commission filings. Company shares were trading at $28.27 as of 11:36 a.m., compared to a 52-week range of $22.62 to $48.18.[[In-content Ad]]
