From the Houston Chronicle – Warren Buffett, one of the world’s richest people, has personally signed off on a deal that will bring a Star Furniture & Mattresses store to a former Randalls grocery store northwest of Houston early next year.
Houston-based Williamsburg Enterprises is redeveloping the 70,000-square-foot store at 12312 Barker Cypress at U.S. 290, in Cypress. The real estate investment firm purchased the property from Randalls’ parent company, Safeway, in May.
Shortly after Randalls closed in July, Houston-based Star Furniture signed a 10-year lease for a location planned to open in the first quarter. The store is among six area Randalls stores to close this year amid lower sales, along with others in Montrose, The Woodlands, Sugar Land, Garden Oaks and Stafford.
Because Star Furniture typically owns its locations, Berkshire Hathaway CEO Buffett had to approve the lease, Williamsburg Enterprises said. The Houston-based furniture retailer has seven area locations plus two outlet stores.