Swap.com will remain in Illinois despite relocation. File photo
Swap.com has signed a long-term lease to occupy a 361,000-square-foot building at 850 Veterans Parkway in Bolingbrook, Illinois, according to company officials.
The move will accommodate the company's growth plans over the next few years, while maintaining its presence in the Chicago area.
"The momentum and consistent growth Swap.com has experienced over the past few months are testaments to our incredible team, customers and investors," Juha Koponen, CEO and co-founder of Swap.com, said. "We look forward to expanding our operations, inventory and team over the coming months."
Swap.com is pacing toward 50 percent revenue growth month-over-month. In the first three weeks of August, the company has had two record weekly revenue numbers and one week of 25 percent growth over the previous.
The company has plans to hire 700 additional employees in 2016. Swap.com's current office is 67,000 square feet; the new headquarters quintuples this space at 361,000 square feet. Cushman & Wakefield assisted Swap.com in the transaction.
"The consumer shift toward online shopping versus traditional brick and mortar retail is fueling significant demand for warehouse and distribution space across the country," Jason West, an executive director with Cushman & Wakefield's industrial brokerage group, said. "This industry trend has been widely publicized and is expected to continue as more online retailers, wholesalers and fulfillment companies emerge to satisfy consumer demand."