The Denton County News dated March 7, 2003 had a headline about Sally Beauty Supply Inc. The newspaper announced Sally Beauty was eying land for new offices and headquarters near I-35E.
The move was being touted as a way the International company could become more visible.
Sally Beauty company officials confirmed they're considering 23 acres at Brinker Road and Colorado Boulevard, which is behind a row of new restaurants easily seen by passing interstate drivers.
"We think that they will be a magnet for similar type development in that area," Denton Mayor Euline Brock said.
Sally Beauty In Talks To Buy Property
The headquarters is currently at 3900 Morse St. off Loop 288 in Denton. It has 350 local employees. Sally Beauty is in talks with Denton Regional medical Center about buying the property on the northeast corner, officials said.
"There has been some discussion," said Tricia Scott, vice president of business development for the hospital.
If Sally Beauty buys the land, company officials plan to build a $20 million to $30 million three story office complex, said Gary Robinson, chief financial officer.
"We want it to look like a head-quarters," he said. The 200,000 square-foot building would be built with 180,000 square feet of office space and 20,000 square feet for storage.
Sally Beauty official expect to finish evaluating the site within the next 90 to 120 days, and, if everything goes according to plans, could move in within the next 18 months, officials said.
One Of Denton's Claims To Fame
With more than $1.6 billion in annual sales and 15,000-plus employees worldwide, Sally Beauty has long, been one of Denton's claims to fame in the business arena.
The company once inquired about moving to Lewisville, but chose to consider renovating its existing Denton facilities, officials said.
"The good news is they were expanding so quickly that it would not be enough space, that renovating the existing building would not work," said Linda Ratliff, economic development director for Denton.
Denton City Council Approved Tax Abatement
The Denton City Council later approved a tax abatement for Sally Beauty, offering a 100 percent cut of property taxes on the increased value of its building for 10 years. The tax abatement was offered to Sally Beauty and another local company after city policy was amended to include abatement for businesses improving existing locations.
However, the tax abatement to Sally Beauty was never used, because the company never expanded the current facility. With the latest plans, Sally Beauty will have to resume talks with the city for economic incentives, officials said.
"This will be the first property tax incentive that we've looked at since the school district can no longer participate," Ms. Ratliff said. State law prohibits school districts from offering economic incentives related to property taxes.Ms. Ratliff said the company is completing an official request for economic incentives. "I know they haven't purchased the land and are doing due diligence on the property and working with the city to see what our partnership might look like," she said.