Beall's Inc. buys Tropicana HQ

Beall's Inc. buys Tropicana HQ

commercial real estate by Sean Roth | Real Estate Editor

The move cements Beall's headquarters in Manatee County.

Bradenton-based retail chain Beall's Inc. is buying the four-story, 149,000-square-foot Rossi Office Building from Tropicana.

According to company officials, Beall's has outgrown its current office facility and has recently been exploring a number of options, including building a new corporate center across the street from its existing headquarters.

"[With building a new building] constructions costs and materials are still mighty high and the time to complete a project of any magnitude ... just takes a long time," says Steve Knopik CEO of Beall's Inc.

"The main reasons we decide to pursue purchasing the Rossi building was that the economics were very favorable. It hadn't been occupied very long by the Tropicana administrative staff before it was consolidated into Chicago, so its almost brand new," he says. "It was also selling it fully furnished ... so we could really get in and get going."

The new office is expected to handle the retailer's growth for at least the next five to six years.

The office building, which was constructed in 2002, will house the corporate operations for Bealls Outlet Stores, Inc. and several divisions of its parent company, Beall's Inc. Beall's will continue to occupy its corporate center/distribution facility at 1806 38th Ave. E., Bradenton, and a second distribution facility on Terrace Avenue, leaving only Beall's financial building available for sale.

Manatee County officials were happy.

"We should never ever think that because a company was grown here that it will stay here forever," says Nancy Engel, executive director of the Manatee County Economic Development Council. "It was very fortunate that they could find something that could meet their needs. This is a very positive step. It means they will continue to grow and create jobs here."

The company plans to occupy the building shortly after the first of the year. Beall's officials plan to rename the building the E. R. Beall Center, as a tribute to the founder's son, who was responsible for the much of the company's growth from the 1950s through the 1970s.

"The facilities in the new building are real exciting, its cafeteria, fitness center and all the meetings facilities," says Dan Doyle, vice president of human resources and loss prevention for Bealls. "It's also close to our existing facilities. We feel like it was certainly a better option than a building a new building at this time. We were really focused on continuing to keep our roots in Manatee County."

Beall's Inc. is the parent company of Beall's Department Stores Inc., Beall's Outlet Stores, Inc., and Burke's Outlet Stores Inc. The corporation, through its subsidiaries, operates more than 560 retail stores from Florida to California and generates annual sales of more than $1 billion.

Cushman & Wakefield listed the property for Tropicana.

Beall's was featured in the cover of the Oct. 20 Review, reporting how the company has handled the challenges of growing to a billion-dollar retailer in such a competitive industry.