The Guess Corporation Closer To Developing And Building Security Park

GREENSBORO, N.C., July 11, 2016 /PRNewswire/ -- The Guess Corporation is pleased to announce that it is getting closer to developing and building its planned National Security Park in Greensboro, North Carolina. Meridian Realty of Winston-Salem was selected as the company's real estate broker to handle site selection. Two sites have been selected for the development which will be a 100-acre campus.

The National Security Park is expected to be a multi-billion dollar development with the latest technologies put in place along with technology enhanced office towers. There will be five buildings: bio-terrorism research center, cybersecurity research center, infectious disease research center, sustainability research center and energy research center. All centers will include around the clock real-time monitoring centers that connect to the field operations of government agencies and provide intelligence and security solutions through predictive modeling.

The Guess Corporation is developing the National Security Park and will manage the park on behalf of a non-profit organization to be formed. The park will hold its own intellectual property portfolio which will come as a result of solutions developed by the park and its members. Private sector companies may become permanent and/or long-term members of the park and share in the creation of solutions and the revenue to be derived as a result of contracts the park will have with various parties. The Guess Corporation intends to offer membership rights beginning at $25 million for a long-term membership agreement. A unit of The Guess Corporation is acquiring the land. The property will remain owned by The Guess Corporation but will be leased to the National Security Park's non-profit parent organization.

Similar to a university, the National Security Park will have chancellors and deans for the various research division. The Guess Corporation intends to establish partnerships with area educational institutions as well. The park is expected to generate 10,000 jobs over five years, most of those positions will be workers that are employed on-site at the park. The Guess Corporation expects to complete the site selection by August of 2016 and break ground by October 2016.

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SOURCE The Guess Corporation

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