Poundex Leases New 550,000-SF HQ & Distribution Building

GlobeSt.com - August 17, 2006

Furniture importer Poundex Associates Corp. has signed a 10-year lease for 550,000 sf of space at Majestic Realty Co.'s 400-acre Majestic Grand Crossing project that will serve as the new corporate headquarters for Poundex. The 550,000-sf facility will replace other facilities in the City of Industry that now serve as the headquarters for Poundex.

Majestic originally began the 550,000-sf Poundex building as a speculative project, but soon after construction began, Poundex agreed to lease the entire building, which is scheduled to be completed in the spring. Terms of the deal were not disclosed.

The new Poundex facility will include about 8,000 sf of two-story headquarters office space, a shipping office and the rest warehouse space. The furniture importer, which has been in the City of Industry for 16 years, now occupies about 300,000 sf in two buildings, one owned and one leased, and is expected to sell the building it owns.

Established in 1989, Poundex is an importer and distributor for fine furniture, selling to dealers and distributors. The company also has offices in New Jersey and Georgia. Sphere: Related Content