The transaction gives VP Corp. an opportunity to consolidate and relocate some of its Triad facilities to a well-known location. The property comprises three buildings and 15.6 aces at 3101 N. Elm St.
A downsized Cone Mills will lease about a third of the 181,000 sf from VF through the end of 2001. Cone Mills is looking for a new headquarters site in the north Greensboro area.
VF officials expect renovations will be completed for a summer 2002 occupancy. More than a third of VF's 650-employee work force will transfer to the center.
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