SALT LAKE CITY, Oct. 13, 2016 (GLOBE NEWSWIRE) -- Overstock.com, Inc. (NASDAQ:OSTK) will officially open its Peace Coliseum corporate campus on Oct. 14, 2016. The 231,000-square-foot main office building is located on 19 acres of land at 799 West Coliseum Way in Midvale, Utah, which is part of the Salt Lake City metropolitan area.
Peace Coliseum was designed to appear from the air as a peace sign (due to the indoor and outdoor pathways intersecting its circular layout), and to appear from ground level as a corporate glass-and-concrete version of the Roman Coliseum.
The building features a state of the art data center, an auditorium and a gourmet café with locally sourced healthy food options. The open-air center of the building has gas fire pits and year-round outdoor seating, with a coffee and juice bar enclosed in the building’s nucleus.
In discussing the building’s design, Overstock.com Founder and CEO Patrick M. Byrne said, “Peace Coliseum manifests the duality of our enterprise. The peace sign represents the caring attitude we extend to our colleagues, clients and community, while the coliseum representing the toughness of our bold capitalist spirit.”
A separate amenities building houses a fitness center, daycare and an employee health clinic. Other features of the Overstock.com campus include park-like landscaped space encircled by a running/walking path, and a covered parking structure. Adjacency to a Utah Transit Authority TRAX light rail and bus station makes it exceedingly convenient for employees to utilize public transportation. The project was completed on-budget at a cost of just under $100 million.
Approximately 1,500 Overstock employees will work in the new building initially, with room for additional employees as future growth requires. Employee’s height-adjustable workspaces are clustered in public, open shared spaces and strategically placed collaborative areas are outfitted, in part, with mid-century modern furnishings from Overstock.com. Glass-walled conference rooms, in a variety of sizes from personal to large, are also available along the circular hallways.
“We constructed the iconic Peace Coliseum to provide our employees with the best possible facility for the collaborative and innovative culture that has fueled Overstock for the past 17 years,” said Byrne.
Overstock expects to receive LEED Gold certification from the U.S. Green Building Council, due in part to the building’s state-of-the-art heating/cooling system. The variant refrigerant flow system utilizes heat from the data center to warm the building in the winter and is one of the most energy-efficient systems for providing cooling in the summer.
The building also features one of the world’s largest installations of View Dynamic Glass, at approximately 30,000 square feet. Powered by a sophisticated intelligence engine, View’s dynamic glass automatically responds intuitively to outdoor conditions and people’s preferences. This provides employees a more comfortable, productive and energy-efficient work environment, while enjoying views and abundant natural light without traditional blinds. View Dynamic Glass has the potential to downsize the building’s cooling system by 21 percent.
Peace Coliseum’s developer was Gardner Company, the contractor was Okland Construction and the architect was EDA Architects, Inc.
Overstock.com, Inc. (NASDAQ:OSTK) is an online retailer based in Salt Lake City, Utah that sells a broad range of products at low prices, including furniture, rugs, bedding, electronics, clothing and jewelry. Additional stores within Overstock include Worldstock.com, dedicated to selling artisan-crafted products to help developing nations around the world and Main Street Revolution, supporting small-scale entrepreneurs in the U.S. by providing them with a national customer base. Other community-focused initiatives include Farmers Market and pet adoptions. Forbes ranked Overstock in its list of the Top 100 Most Trustworthy Companies in 2014. Overstock sells internationally under the name O.co and regularly posts information about the company and other related matters under Investor Relations on its website (http://www.overstock.com and http://www.o.co)
O, Overstock.com, O.com, O.co, Club O, Main Street Revolution, Worldstock and OVillage are registered trademarks of Overstock.com, Inc. O.biz and Space Shift are also trademarks of Overstock.com, Inc. Other service marks, trademarks and trade names which may be referred to herein are the property of their respective owners.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include all statements other than statements of historical fact. Additional information regarding factors that could materially affect results and the accuracy of the forward-looking statements contained herein may be found in the Company's Form 10-Q for the quarter ended June 30, 2016, which was filed with the SEC on August 4, 2016, and any subsequent filings with the SEC.