2 days Ago By By Juan Betancourt Staff Writer
Denton County commissioners voted unanimously Friday to purchase Sally Beauty Holdings Inc.'s corporate support center for $45 million. Sally Beauty moved its headquarters to the 200,000-square-foot building at 3001 Colorado Blvd.
in Denton in 2005. The Denton Central Appraisal District has set the property valuation for the 23-acre property at $25.5 million.
According to the agenda documents, Denton County will lease the building back to Sally Beauty for a year, with the option of extending the lease for three months, with a monthly rent of $35,000. The county will then discuss plans for the use of the facility, which may include a relocation. “I know Sally Beauty is looking at relocation both in and outside of Denton County,” County Judge Andy Eads said in a statement.
“It is our deep desire that they stay within the county.” Dustin Sternbeck, a spokesperson for the city of Denton, said in an email that the city was contacted by a broker representing Sally Beauty Holdings about the potential sale of its headquarters. "The City initiated due diligence and submitted an initial offer unaware of the existence of other interested buyers," Sternbeck said via email.
"After learning another buyer was pursuing the property and that SBH was proposing to accept the other buyer’s offer, the city made a subsequent offer." The city's subsequent offer also included the purchase price of $45 million, as well as a leaseback option for up to 15 months without rent payments and up to $625,000 in lease concessions. "Only after the purchase and sale agreement appeared on the county’s agenda last week did the city learn that the county was the competing bidder and that the city’s subsequent offer was not accepted," Sternbeck added.
"The city immediately withdrew its offer." Eads said one reason for the purchase is the county's rapid growth. Last year, Denton County’s population reached the 1 million mark .
“The strategic acquisition is a significant milestone for Denton County, reflecting our county’s ongoing commitment to the citizens of Denton County to accommodate for our rapid growth, demand for service to the citizens, and evolving space needs,” Eads said in the statement. “With Denton County being one of the fastest-growing counties in the state and nation, surpassing one million residents, this new property opens numerous possibilities for both current and future uses.” In 2019, county commissioners voted to spend about $12 million to purchase Sally Beauty’s former distribution center at 3900 Morse St.
, a 114,000-square-foot building on 13 acres of land. The county's Morse Street Facility now houses several county departments, including development services, emergency management, environmental health, fire marshal, two probate courts and more. Jeff Harkins, Sally Beauty’s vice president of investor relations and treasurer, did not respond to the Denton Record-Chronicle’s request for comment regarding the sale.
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