Belk announces $47M investment in Union County
July 18, 2014
Department store retailer Belk Inc. recently announced a $47 million investment in its Jonesville e-commerce distribution and fulfillment center operations, which is expected to expand the facility’s footprint by 50 percent and add 20 new jobs.
The new expansion, which is expected to be completed in January 2015, is the second expansion to the Union County facility since its establishment in June 2012.
The investment will add more than 345,000 square feet of newly constructed space to the 515,000-square-foot building.
Additionally, the Jonesville facility was recently acquired by CPA:18 – Global, a non-traded REIT affiliate of global real estate investment trust W.P. Carey Inc., and is being leased to Belk. Belk and CPA:18 – Global will invest a collective $47 million, which includes funding for construction and to upfit the facility with equipment such as conveyor systems, racking and automation.
Read the full article from the Upstate Business Journal.