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.
Recommended For You
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
