CostPlus Adds to Distribution Space, Buys Facility

ISLE OF WIGHT COUNTY, VA-Times are good for Cost Plus Inc., as is evidenced by the California-based company’s planned expansion of its Cost Plus World Market East Coast Distribution Center in the Shirley T. Holland Commerce Park off Route. 460.

The home accessories and entertainment product retailer has decided to increase the size of its distribution and warehouse facility from 500,000 sf to one million sf, an endeavor that is expected to cost $24 million. The expansion, however, represents just one facet of the company’s news. Cost Plus will also buy the existing facility, which it has been leasing form GEM 460 Associates I LLC, for $26.5 million.