DSW Inc. Announces Acquisition of Corporate Headquarters and Columbus
COLUMBUS, Ohio, Nov. 1, 2012
COLUMBUS, Ohio, Nov. 1, 2012 /PRNewswire/ --DSW Inc., a leading branded
footwear and accessories retailer, today announced the acquisition of 810 AC
LLC, which owns the corporate headquarters of DSW, as well as its 700,000
square foot distribution center and trailer lot on its home office campus in
Columbus, OH for a total of $72 million, paid in cash.
(Logo: http://photos.prnewswire.com/prnh/20100325/DSWLOGO-a )
"Today's acquisition reflects our continued commitment to growing DSW in the
future by opening stores, expanding our DSW.com business and by adding new
accounts to our Affiliated Business Group (formerly the Leased Business
Division)," stated Mike MacDonald, President and Chief Executive Officer of
DSW Inc. The company recently completed the $15 million installation of an
automatic sortation facility in the distribution center to support its size
replenishment program. Mr. MacDonald continued, "Purchasing the property
secures our investment and ensures our ability to expand into additional
office space to support DSW's continued growth."
DSW had previously leased approximately two thirds of the property included in
the purchase. The acquisition is expected to be slightly accretive on an
annual basis, resulting from rent savings and income from existing tenants.
DSW Inc. is a leading branded footwear and accessories retailer that offers a
wide selection of brand name and designer footwear and accessories for women,
men, and kids. As of November 1, 2012, DSW operated 363 stores in 41 states,
the District of Columbia and Puerto Rico, and operated an e-commerce site,
http://www.dsw.com, and a mobile website, http://m.dsw.com. DSW also supplied
footwear to 345 leased locations in the United States. For store locations
and additional information about DSW, visit http://www.dswinc.com. Follow DSW
on Twitter at http://twitter.com/DSWShoeLovers and "like" DSW on Facebook at
SOURCE DSW Inc.
Contact: Christina Cheng, Director, DSW Inc., Investor Relations,
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