GameStop signs lease for massive distribution warehouse, ditches debt

GameStop said it has signed a lease for a 700,000-square-foot distribution warehouse on Monday, even as it announced it has retired its corporate debt earlier than expected.

The warehouse facility in York, Pa., which will support the Texas-based retailer’s e-commerce business, is expected to be operational by the fourth quarter of this year and is meant to expedite GameStop’s shipping needs along the East Coast. Separately, the video-game retailer said Monday it has erased $216.4 million in long-term corporate debt that would have come due in 2023, leaving it with no long-term debt on its balance sheet.