The Allen Group Leases 817,000 Square Feet to VF Outdoor, Inc. for New Distribution and Logistics Center in Central California
Build-to-Suit Facility to Be Apparel Company's Western Distribution Hub
SAN DIEGO, July 13 /PRNewswire/ -- The Allen Group, a major developer of
industrial and office properties in the Western United States, announced today
that VF Outdoor, Inc., a subsidiary of VF Corporation (NYSE:VFC), has signed a
long-term build-to-suit lease agreement for a new 817,000-square-foot
distribution and logistics facility.
The Project will be located in the MidState 99 Distribution Center, a
master-planned industrial development in Visalia, Calif. The new facility will
serve as the Western distribution hub for VF Corp.'s Outdoor Apparel unit.
More than 350 permanent jobs will be created by the facility once it's fully
operational.
VF Corporation, with sales in excess of $6 billion, is one of the world's
largest apparel companies, with leading brands in jeanswear, intimate apparel,
outdoor apparel and equipment, and specialty apparel. Its brands include
Lee(R), Wrangler(R), Vanity Fair(R), Bestform(R), Lily of France(R),
Nautica(R), John Varvatos(R), JanSport(R), Eastpak(R), The North Face(R) and
Vans(R).
The Allen Group will develop the new 817,000-square-foot facility, which will
feature state of the art racking and distribution equipment, 40-foot clear
heights, and an additional 200,000 square feet of mezzanine space for VF Corp.
The Allen Group will own the completed building, which will cost an estimated
$43 million to develop, and has entered into a long-term lease on the property
with VF Outdoor, Inc. In addition, VF Outdoor, Inc. signed a short-term lease
for 118,000 square feet in an existing building that is also located in the
MidState 99 Distribution Center.
"VF Outdoor, Inc.'s selection of MidState 99 reflects the site's competitive
advantages, including its strategic location, abundant labor supply and
existing rail infrastructure," said Richard S. Allen, chief executive officer
of The Allen Group. "The new VF facility will allow goods to be stored,
shipped and delivered faster and with greater efficiency." "We are delighted to partner with the Visalia community to locate this modern
distribution center in the heart of the San Joaquin Valley," said Boyd A. Rogers, President - Supply Chain, VF Corporation. "After a comprehensive
search, we recognized the positive business environment, excellent labor force
and community support for this venture in Visalia." Construction of the new facility will begin within the next 10 days, with
completion expected in June 2006. The development team includes design-build
firm The Haskell Company (Jacksonville, Fla.) and Sedlak (Richfield, Ohio), a
supply-chain specialist that is responsible for the design and implementation
of all operations and materials-handling systems within the facility.
More About the MidState 99 Distribution Center Strategically located in the heart of California, the MidState 99 Distribution
Center (http://www.midstate99.com/) is midway between population centers Los
Angeles and San Francisco. The property is adjacent to Highway 99, a major
north-south artery and trucking corridor, and easily accessible by air and
rail. From this location, 97% of all California zip codes can be served
overnight by UPS ground service.
More than 400 acres of master-planned and entitled property accommodates
existing and new industrial facilities at MidState 99. Federal, state and
local incentives, including Foreign Trade Zone and California Enterprise Zone
programs, offer fast-track permitting, duty and fee deferrals, equipment tax
credits, hiring tax credits, net operating loss carryovers and comprehensive
start-up hiring assistance and training benefits.
Typical buildings have a 30-foot clear height, ESFR fire systems, a 150-foot
truck court, dock-high and at-grade doors, and offices. MidState 99 tenants
include ALCOA Reynolds Food Packaging, Condor Freight Lines, International
Paper Company and Jo-Ann Stores.
Distribution companies also find Visalia to be an ideal location; a number of
them have sited statewide or regional distribution hubs there: UPS (regional),
Condor Freight Lines (statewide) and Golden State Overnight (statewide). With
the adjacency of the Visalia Airport, FedEx and DHL have established pick-up
and delivery facilities on the tarmac.
About The Allen Group The Allen Group (http://www.allengroup.com/) is a San Diego based commercial
development firm specializing in rail served industrial parks, and office and
industrial build-to-suit facilities throughout the Western United States. The
Company has developed approximately five million square feet of commercial
property in California and across the West, including two master-planned
industrial distribution and logistics centers (MidState 99 and the
International Trade and Transportation Center near Bakersfield, Calif.). The
Allen Group presently has major California industrial and office projects under
development in San Diego, Bakersfield, Shafter, Sacramento, and Visalia, plus a
major industrial park in Dallas, Texas. The Company is trusted by Fortune 500
companies that use real estate as an integral part of their businesses.
Clients include Cox Communications Inc., FedEx Corporation, International Paper
Company, Intuit, Inc., Kraft Foods, Inc. and Wal-Mart Stores, Inc. DATASOURCE: The Allen Group CONTACT: Luke Allen of The Allen Group, +1-760-707-1900; or Cary Brazeman of The Corporate Storyteller, +1-310-205-3590 Web site: http://www.allengroup.com/
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