LL Bean is also reaffirming its desire to develop a separate 4-acre parcel it owns across the street from the newly acquired property. Development of the parcel would provide hundreds of additional parking spots and bring as much as 100,000 sq. ft. of new retail space to the downtown.
Company President and CEO, Chris McCormick said, "With these announcements, we envision a major transformation for downtown Freeport."
"These changes will significantly enhance the overall experience for LL Bean customers, and represent tens of millions of dollars of new commercial investment in our home town of Freeport," he added.
Other Freeport investments include construction currently underway to expand LL Bean's order fulfillment operations in Freeport by 50 percent. The 330,000 sq. ft. addition to the company's Desert Road facility is necessary to support the company's plans for new regional retail stores and its growing consumer direct mail-order business. The project is scheduled for completion in fall 2007.
LL Bean currently has retail stores located in Tysons Corner, Virginia; Columbia, Maryland; Marlton, New Jersey, West Lebanon, New Hampshire and Freeport, Maine, the site of their original Flagship Retail Store. It also has 14 factory stores located throughout the Northeast.
marketing@alchempro.com
