Ollie’s Opens 615 KSF Distribution Center in Illinois
Ollie’s Bargain Outlet Holdings has opened its fourth distribution center, a facility spanning more than 615,000 square feet in Princeton, Ill. The total investment landed north of $75 million.
Built by Arco Design/Build, the project topped out last year. With a pivotal role in the company’s westward expansion, the facility is slated to initially service roughly 60 stores in nine states, with final plans involving 150 stores.
President Eric van der Valk previously told Commercial Property Executive that the bulk of the facility was assigned for warehouse storage. The building features sortation and conveyor systems, as well as 58 truck docks and 100 truck parking spaces.
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Following Ollie’s purchase of the 130-acre Princeton Logistics Park, the city authorized naming the park’s right-of-way after its new owner. Therefore, the facility is located at 1 Ollie’s Bargain Blvd., less than 1 mile from Interstate 80 and some 3 miles from downtown Princeton.
The first Ollie’s Bargain outlet store opened in Mechanicsburg, Penn., in 1982. According to Forbes, the company went public in 2015, at the time having almost 200 stores and $640 million in revenue. Its first week of trading ended with a market capitalization of $1.2 billion. In August 2024, Ollie’s operated 525 stores.
Despite retail chain closures, such as Dollar Tree which stated it will close about 1,000 stores, Ollie’s keeps expanding. Van der Valk stated, in prepared remarks, that the firm aims to open more than 1,300 stores nationally.
Illinois’ efforts to incentivize businesses
In 2019, Illinois Governor J.B. Pritzker released a five-year economic plan focused on job creation. Working alongside the Department of Commerce and Economic Opportunity, the plan aimed to improve wages, build greater equity, as well as attract and support businesses.
One of the business incentives is the Economic Development for a Growing Economy Tax Credit Program which issues annual corporate tax credits to businesses that support job creation and provide capital investment in the state of Illinois. In June 2022, DCEO awarded Ollie’s with tax credits and in exchange, the company pledged to invest $75 million in the community, as well as create more than 200 jobs.
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