PHILADELPHIA—Women's specialty retailer Destination Maternity, which took $40 million in incentives to relocate operations here to New Jersey, says it expects it will close on the sale of its headquarters/distribution facility at 456 N. 5th St. by the end of the company's fiscal year 2014, which ends at the end of September.

In its recently released third quarter earnings report, the company states that renovations have begun on its 74,000-square-foot building Moorestown, NJ. Destination Maternity plans to move its Philadelphia-based corporate headquarters there in late 2014. The company's distribution operations will relocate to a 400,000-square-foot facility in Florence, NJ by mid-2015, according to the Philadelphia Business Journal.

Currently, Destination Maternity maintains its corporate headquarters on North 5th St. and its distribution facilities at the Philadelphia Navy Yard. The company got a 10-year benefits package from the Grow New Jersey Assistance Program worth $40 million.

In the company's third quarter earnings report, Destination Maternity CEO Ed Krell said, "Capital expenditures associated with the relocations are planned at between $20 and $22 million for fiscal 2014, with nearly $4 million of this amount expected to be offset by construction allowance contributions from our landlord. Additionally, we expect approximately $16 million of capital expenditures for the relocations in fiscal 2015." See story in the Philadelphia Business Journal.