Room & Board has signed a six-year lease for the building, which was built in 2004, has 32-foot high ceilings and 18 docks. Room & Board will be the building's first tenant.
Tom Hauschild of the Tegra Group represented Room & Board in the deal. The listing agent for the Rogers property was James DePietro of CB Richard Ellis, and Marfield Belgarde & Yaffe are the property managers. The financial terms of the lease were not disclosed.
The retailer says the new distribution center will help support expansions into the New York market as well as its plans to open a store in San Francisco later this spring. Room & Board's delivery operations, including the customer pick-up area, will remain at its current location at 4600 Olson Memorial Hwy. in Golden Valley.
Room & Board has worked with Hauschild and Tegra for the last three years. Tegra Group represents Room & Board in all aspects of property acquisition and management, including site selection, acquisition, financing and working with property managers.
About 25 years old, Room & Board has two other distribution centers and eight stores in the Twin Cities, Denver, Chicago, California, and New York markets. The company has more than 400 employees with sales of about $135 million last year.
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