105 vacant acres

The price for the land and the buildings is $25.6 million,including transaction costs. According to a statement, the companybelieves that the costs of expansion on the adjacent land will besignificantly less than construction of a new headquarters campuson the 105-acre site, which is located at Alico Road and Three OaksParkway. Chico's did not disclose a cost estimate for building onthe vacant site or for its planned expansion on the newly acquiredproperty. GlobeSt.com previously reported that it paid between$27.3 million and $35.2 million for the Alico Road acreage.

When the adjacent property became available, the company decidedto plan its expansion at its current location and hold the 105acres for investment and ultimate sale "at the opportune time," thestatement says. The existing headquarters, prior to the purchase ofthe adjacent land, encompasses 36 acres, containing a 147,000-sfoffice facility and a 20,000-sf call center.