Zulily said Wednesday it struck a 12-year lease agreement for a new fulfillment center in Nevada. The agreement will give the online retailer use of a 707,010-square-foot building to be built on 48 acres of land.
Annual rent will be $1.3 million for the first year, an amount that will increase 1.75% annually, as well as operating expenses and management fees. The lease will begin when the warehouse is built or when the company starts operating on the property, whichever comes first, according to a securities filing.
The fast-growing Seattle company, which specializes in flash sales for moms, also said that it obtained a $50 million revolving credit facility.
Ángel González; 206-464-2250 or email@example.com. On Twitter: @gonzalezseattle
- Teen, one of 14 siblings, finally gets to be a kid
- Seattle sushi fans, rejoice: Shiro's new place is open
- UW fires women’s crew coach Bob Ernst
- What concussion testing did WSU QB Luke Falk have to go through? We ask WSU's team physician, Dr. Dennis Garcia
- Students say WWU’s response to racist threats not enough