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 firstname.lastname@example.org. On Twitter: @gonzalezseattle
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