Baltimore, MD, November 11, 2013 - CBRE negotiated a lease for specialty prestige beauty retailer Sephora Americas to meet growing consumer demand for retail fulfillment and growing e-commerce sales with a new distribution center facility. The state-of-the-art build-to-suit facility, under construction at 531 Chelsea Road in Perryman, MD, will increase Sephora’s footprint in Harford County from 386,677 to 655,800 square feet. Sephora has committed to adding another 200 full-time jobs to support the expansion in Harford County.
Sephora’s new distribution facility will occupy the final remaining pad site at the Mid-Atlantic Distribution Center, a business park in a market with a current vacancy rate of 2.7%. The asset is owned and developed by a joint venture of Ryan/Emory Properties and Northwestern Mutual Real Estate Investment, and represented by Matt Ryan of Ryan Commercial.
“Sephora demonstrated a sophisticated approach to the site selection and ultimately decided on a property that would maximize the efficiency of their distribution operations,” said Vice President Thomas “Toby” Mink of CBRE Industrial Services, who represented Sephora.
Selection of the site, which is scheduled to deliver in May of 2014, follows a multi-state search and work with a consultant to analyze Sephora’s supply chain model and distribution network, through which Sephora continues to meet a growing demand for faster home delivery, while providing a superior customer experience at retail stores.
“We thank CBRE for their strong support and counsel in this project. We look forward to having a larger presence in Harford County as we expand our distribution operations to provide even more rapid and efficient service to our clients,” said Marty Flaherty, Vice President of Distribution, Sephora Americas.
CBRE’s Bill Pellington collaborated with Mink in the transaction.
About Sephora Americas
Since 1998, Sephora has been TRANSFORMING BEAUTY in the U.S. Today, Sephora Americas operates more than 330 stores in the U.S. and Canada as well as the world’s top beauty website, Sephora.com. In 2010 Sephora expanded into Latin America where it partnered with the Brazilian beauty market leader Sacks.com, in 2011 opened two retail stores in Mexico and in 2012 opened one retail location in Brazil. Sephora is well known for its unique retail concept, which is rooted in its distinctive open-sell store design, the beauty expertise of its sales consultants and, most importantly, its unparalleled combination of over 200 classic and emerging brands across a broad range of product categories including skincare, color, fragrance, bath & body, smilecare, and haircare, as well as Sephora's own private label. Sephora has also been recognized as a leading digital brand and continues to advance this arena through mobile and social media initiatives including an active Facebook page, BeautyTalk-its online beauty community, its mobile site and Apps. In addition to its North and Latin American business and its initiative with JCPenney, which includes more than 380 Sephora inside JCPenney locations, Sephora today has more than 1,780 stores within 29 countries in Europe and 115 locations in China. Sephora was founded in France in 1970 and acquired in 1997 by Paris-based LVMH Moët Hennessy Louis Vuitton, the world's leading luxury products group. For further information, please visit www.sephora.com
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2012 revenue). The Company has approximately 37,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.