NFI adds over 3.5 million square feet of space in 2015
CHERRY HILL, NJ — Supply chain solutions provider NFI has added nine new facilities to its real estate portfolio in the first six months of 2015. Totaling 3,587,342 s/f of space, the distribution centers, located across PA, TX, MS, NC, and NJ, serve NFI’s valued customers in the retail, home goods, grocery, and automotive industries. The new facilities complement an already diversified portfolio of owned, leased, or operated facilities totaling 25 million s/f of space across North America.
“NFI is excited to continue to work with existing customers while welcoming new customer partnerships in 2015,” said Jeff Brown, NFI president and vice chairman. “The opening of over 3.5 million s/f of distribution space across North America, within a six month period, is a testament to the flexibility we offer our customers. NFI provides a variety of real estate services, with the ability to develop, own, lease, and operate a diverse set of properties.”
The largest single addition for NFI this year is the completion of a 1,045,000 s/f distribution center in Oldmans Township, NJ. Five Below, the trend-right, extreme-value retailer catering to pre-teens, teens and beyond, and NFI broke ground on this real estate development project in September of 2014. The companies worked closely together during the short nine-month construction period to guarantee all aspects of the building would be ready for operations this summer. This will function as Five Below’s core eastern U.S. distribution center, servicing over 300 retail store locations in the region, with room for growth.
Providing real estate solutions is a core competency of NFI. The company just broke ground on a 504,000 s/f expansion project in Florence Township, NJ, and will continue to develop real estate space throughout the year. Subaru of America will occupy 189,000 s/f of this expansion, while the remaining 315,000 s/f is still available for lease to the NJ market.