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Cost Plus World Market-
East Coast Distribution Center |
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500,000 |
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Office, Industrial, and Municipal
Infrastructures
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Cost
Plus, Inc., a leading specialty retailer of casual home furnishings
and entertaining products needed an East Coast Distribution Center
to support the growth of the company East of the Mississippi River.
At the time, Cost Plus Inc. operated 156 stores in 20 states and was
establishing a modern state of the art logistics chain/system required
of today’s retailers.
Out of six (6) nationally recognized development firms, Ellis-Gibson
was competitively selected to develop Cost Plus Inc.'s East Coast Distribution
Center because of our unique ability to: (1) create a solid financial
structure for the property; (2) integrate the efforts of several other
parties involved; (3) coordinate multiple real estate development disciplines;
(4) the ability to guarantee project completion; and (5) to provide
a fair and reasonable price to Cost Plus Inc.
In April 2002, Cost Plus, Inc
announced the successful opening of its new East Coast Distribution
Center located in Eastern Virginia. The original plan was to begin shipments
to stores at the end of June 2002. Because of our ability to successfully
integrate all development activities, and deliver the facility two months
early, Cost Plus, Inc. was able to start operations in April 2002. Structured
as a long-term lease and a total investment exceeding $30 Million, the
Cost Plus World Market-Virginia Distribution Center project is the largest
developer build-to-suit ever done within the Hampton Roads Region.
