VF Corp. bought Majestic Athletics in March 2007, and VF started looking for space soon after the sale. The clothing company is scheduled to move into the building November 2008. VF produces sportswear, jeans, image apparel and outdoor products. The parent company is headquartered in Greensboro, NC. Majestic has been family operated in Pennsylvania and the former owners wanted to keep the warehouse and employees in the Commonwealth.
"The new owners are investing in efficiency," Elky Wetherhill, regional partner and senior vice president of Verus Partners, tell GlobeSt.com. Verus Partners secured the deal for the buyer Cabot Properties. "They wanted to retain the labor force with this consolidation, this way; there will be no job loss."
Verus Partners, a development firm, and Cabot Properties, a private equity investment firm, are working as a joint-development to produce the build-to-suit-property for Majestic. The facility will produce Major League Baseball uniforms.
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