Zulily, the daily deals site for moms and kids’ products, keeps on growing and growing. The Seattle company announced today in a SEC filing that it has entered into a 12-year lease for a new 707,010 square foot fulfillment center on 48-acres of land in McCarran, Nevada — just outside of Reno. That’s more than double the size of the company’s existing fulfillment center in McCarran. The new center will have room to employ up to 1,600 people.
“The Nevada region has served us well, and we look forward to expanding our operations in the area to deliver even more value and service to our customers nationwide,” said Zulily COO Bob Spieth in a statement emailed to GeekWire.
The company is paying $1.3 million per year in base rent for the property in the first year, with that rent to rise by 1.75 percent each year. The landlord — US Real Estate Limited Partnership — is expected to build the new warehouse facility. Zulily had previously leased a 328,000 square foot facility in McCarran, a lease of which was set to expire in December of this year. (Correction: The annual base rent was misstated. We’ve corrected the error).
Zulily certainly has the cash to pull off such a move. The company went public in November, raising about $140 million through the IPO. It now has a market value of more than $5 billion.
The company, with annual sales in 2012 of $331 million, also announced that it has entered into a $50 million revolving credit facility.
Zulily also operates a 737,000 square foot fulfillment center in Lockbourne, Ohio — just outside of Columbus. And it is moving its headquarters into the former RealNetworks space along Elliott Avenue in Seattle, a move that was set to be finished next month. Its lease is for 236,000 square feet in that building.
