PFSweb, Inc. (the “company”) (NASDAQ: PFSW) will relocate its corporate headquarters to Allen, TX in a move that is expected to bring more than 650 new jobs to Allen in coming years.
PFSweb, a provider of end-to-end web commerce solutions, signed a 10-year lease on 95,877 square feet at 505 Millennium Drive, occupying a facility that had been vacant for more than eight years. The Allen Millennium Park facility was selected after a thorough competitive process led by advisors Cushman & Wakefield that included numerous comparable properties in the cities of Richardson, Dallas, Frisco and Plano. PFSweb selected the City of Allen and the Millennium facility due to the quality of the city’s workforce, the desirable business environment, a favorable local economy and the various attractive financial and space flexibility dynamics of the Millennium facility, among other factors. PFSweb expects to relocate to the Allen facility during the latter part of the first quarter of 2012.
PFSweb also recently announced that it will relocate its call center operations from its current location in Plano to Renaissance Tower in downtown Dallas. PFSweb considered moving its corporate headquarters to Dallas as well, but ultimately chose to keep the operation in Collin County.
“Recruiting quality businesses and jobs to Allen is what we do, and this deal is an outstanding example of our mission,” said Dan Bowman, interim executive director of the Allen Economic Development Corporation (AEDC). “Not only does PFSweb plan to invest more than $4 million in its new headquarters, it will also create hundreds of high-wage jobs that bring value to Allen through future sales tax and residential property construction.”
“The company plans to initially locate 350 jobs in Allen and create an additional 300 jobs over the next five to 10 years,” Bowman said.
PFSweb’s state-of-the-art headquarters space will include the latest concepts in tech office space design that will provide its staff a highly productive and collaborative work environment while also providing a multitude of casual comforts and amenities that are designed to reduce workplace stress and promote employee health and wellness. Bright open spaces promoting the flow of natural light throughout the open office environment are included throughout the facility. The design concepts throughout the complex deploy a liberal use of “green” construction techniques designed to maximize energy efficiency and minimize environmental impact.
“We’re excited to make this investment to relocate our PFSweb corporate headquarters to the City of Allen,” said Mark C. Layton, CEO of PFSweb, Inc. “We believe the City of Allen is a great fit for our company, and it’s been a pleasure to work closely with the AEDC to meet the complex objectives of our fast-growing web commerce technology company. Along with our design partner, Corgan Associates, Inc., and our General Contractor, MAPP Construction, LLC, we have developed and deployed what we believe are a number of revolutionary concepts in office space design. These concepts include, amongst other features, the PFSweb Think Tank which allows for highly flexible space configuration to quickly meet various project group needs and PFSweb Park that includes an outdoor amphitheater, various outdoor meeting and collaboration spaces, an outdoor walking path and the extensive use of drought resistant native Texas plants and grasses. Collectively we believe these concepts will thrill our PFSweb employees about their new work environment while also providing our clients a fantastic collaborative design environment to productively evolve and implement their direct-to-consumer web commerce business strategies.”
The AEDC offered an economic incentive package based on job creation and the achievement of specific capital investment benchmarks, and the Allen City Council nominated the company for consideration of incentives from the Texas Enterprise Zone program.
“PFSweb is a growing company that intends to make a significant capital investment in our city,” said Allen Mayor Steve Terrell. “We’re proud to welcome them and look forward to being part of their continued success.”
The deal is one of the top three office leases in the Metroplex for the fourth quarter of 2011, according to market research provided by CoStar. Grant Sumner and John Dickerson of Peloton Commercial Real Estate represented the Millennium Business Park landlord, Capital Commercial Investment. Rick Hughes and Dan Cook of Cushman & Wakefield of Texas Inc. represented PFSweb, Inc.
ABOUT PFSweb, Inc.
Iconic brands engage PFSweb to enable their eCommerce initiatives. PFSweb’s End2End eCommerce® solution includes interactive marketing services, robust eCommerce technology, global fulfillment and logistics, high-touch customer care, financial services, and order management. PFSweb’s eCommerce solutions provide international reach and expertise in both direct-to-consumer and business-to-business initiatives, supporting organizations across multiple industries including Procter & Gamble, L’Oreal, LEGO, Carter’s, Lucky Brand Jeans, kate spade new york, Juicy Couture, AAFES, Riverbed, Ricoh, Hawker Beechcraft Corp, Roots Canada Ltd. and Xerox. PFSweb is headquartered in Plano, TX with additional locations in Tennessee, Mississippi, Canada, Belgium, and the Philippines.
To find out more about PFSweb, Inc. (NASDAQ: PFSW), visit the company’s website at http://www.PFSweb.com.
ABOUT ALLEN ECONOMIC DEVELOPMENT CORPORATION
In 1992, the citizens of Allen passed a citywide half-cent sales tax in support of an economic development corporation. Since its inception, the Allen Economic Development Corporation has been charged with facilitating company relocations and assisting the expansion of existing businesses, which creates jobs and additional tax revenue to the community. Since 1992, the AEDC has recruited over seventy new businesses and industries to Allen that have contributed to increasing Allen’s total ad valorem tax base from $729 million in 1992 to over $8 billion in 2010.
The AEDC Board of Directors, appointed by the Allen City Council, governs the corporation’s operations. These individuals represent a diverse spectrum of interests and expertise, which is invaluable to making prudent decisions with regard to the quality of Allen’s economic development.