News Column

BRIEF: Zulily leases 48-acre distribution site in Nevada

January 29, 2014

By angel Gonzalez, The Seattle Times

Jan. 29 -- 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. angel Gonzalez ; 206-464-2250 or . On Twitter: @gonzalezseattle ___ (c)2014 The Seattle Times Visit The Seattle Times at Distributed by MCT Information Services

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Seattle Times (WA)

Story Tools