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Bed Bath Buys New HQ for $11M

UNION, NJ-The industrial building, next to the retailer's current HQ, will be completely retrofitted once the seller vacates.

By Eric Peterson | Updated on March 19, 2008

UNION, NJ-Home furnishings retailer Bed Bath & Beyond will soon have a new headquarters location, but won’t be moving very far. The company has closed on the acquisition of 700 Liberty Ave., a 176,600-sf warehouse and office building right next to its current HQ at 650 Liberty Ave.

The seller was Breeze-Eastern Corp., a manufacturer of hydraulic lifting devices for helicopters, including rescue hoists, cargo hooks and weapons-lifting systems. According to information released by Breeze-Eastern, the sale price was $10.5 million, or about $59 per sf, and net proceeds of $9.8 million have been applied to the company’s outstanding debt.

And while the building is set to become Bed Bath & Beyond’s new corporate headquarters, that may not happen just yet. Under the terms of the sale agreement, say Breeze-Eastern officials, the company will lease the facility for up to two years pending its own relocation to a new site to be selected.

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