Overstock (NASDAQ:OSTK) broke ground on its new corporate campus, referred to as the Peace Coliseum, which is anticipated to open in the summer of 2016.
Just in time for the company's 15th anniversary, work began on the 231,000-sq.-ft. office building, which will stand on 10 acres of land in Midvale, Utah. In addition to the main building, the campus will include an amenities building—complete with cafe, fitness center, health clinic and daycare, a park-like green space, and a parking structure. The estimated cost for everything is $100 million.
"It's exciting to be at a point where we can build the Peace Coliseum to unite our employees," said Stormy Simon, president, Overstock. "It will be the coolest place to work ever."
The building itself is contemporary and has silver LEED certification by the U.S. Green Building Council, with the possibility of gold certification. The building's state-of-the-art heating/cooling system will utilize heat from the data center to heat the building in the winter and is one of the most energy-efficient systems for providing cooling in the summer. It's also conveniently located on the TRAX light rail and bus station for public transportation.
The company warehouses will remain in their present locations in Utah, Kentucky and Pennsylvania.
Overstock has also been busy expanding its customer offerings. The retailer recently announced it would accept Bitcoin payment from international shoppers. Previous to launching internationally, the company had reported initial success with Bitcoin payments being used by domestic customers.
-See this Overstock press release
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