The company has shelled out $14 million for the nine-acre parcel and the two-story facilities that encompass a total of 86,000 sf. The new acquisitions, which are located at 8945 Rehco Rd., will allow PETCO to expand its current headquarters complex that stands next door. In addition to the two recently purchased facilities, PETCO plans to construct a third office building with a parking structure on the property. The expansion project, which is still awaiting city approval, would result in a 20-acre national headquarter campus with 250,000 sf of office space.

Company officials say the recent acquisitions, which PETCO has purchased from Carroll Canyon Properties Ltd., underscore the retailer's continued support of San Diego. "We looked at other potential sites, but elected to stay within San Diego's city limits," explains James Myers, the firm's executive vice president and CFO. "This demonstrates our long-term commitment to San Diego," he adds.

PETCO, which has called San Diego home for nearly four decades, is a national pet food and supplies specialty retailer. With more than 600 stores in 43 states and the District of Columbia, PETCO employs approximately 1,200 people in the San Diego area alone. The company generated net sales of $1.5 billion in the fiscal year ended February 1, 2003.