Lumber Liquidators Investing in Distribution Sites
Toano, VA, Aug. 22, 2013 -- Lumber Liquidators said it has begun the next phase in its multi-year supply chain optimization initiative with the planned construction of a new distribution center in Henrico County, Virginia and the leasing of a new West Coast distribution center in Pomona, California.
The company said it has reached an agreement to purchase 110 acres of undeveloped land in Henrico County, Virginia and plans to construct a one million square foot distribution center to consolidate and enhance its current East Coast operations.
The Company currently leases approximately 750,000 square feet of distribution space across four separate buildings in Hampton, Virginia.
The Company expects capital expenditures of approximately $42 million to $46 million, including land of approximately $5 million, to be incurred to construct the new facility, which is expected to be completed in the third quarter of 2014.
Lumber Liquidators said it has also reached an agreement to lease an approximately 500,000 square foot distribution center in Pomona, California. The Company expects to begin operating that facility by November, with full implementation planned for the first quarter of 2014.