FASTENAL CO
For the period ended Dec 31, 2023. Filed Feb 6, 2024.
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FY2023 · Filed Feb 6, 2024
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Item 2. Properties
Note – Information in this section is as of December 31, 2023, unless otherwise noted.
We own, and in some cases, lease, the following facilities, excluding selling locations:
| Location · Purpose · Leased · Tote Locations (ASRS)(1) · ApproximateSquare Feet | |||||
|---|---|---|---|---|---|
| Winona, Minnesota | Distribution center and home office | 246,000 | 331,000 | ||
| Indianapolis, Indiana | Distribution center | 547,000 | (2) | 1,078,000 | |
| Akron, Ohio | Distribution center | 103,000 | 188,000 | ||
| Scranton, Pennsylvania | Distribution center | 104,000 | 187,000 | ||
| Denton, Texas | Distribution center(3) | 41,000 | (4) | 263,000 | |
| Atlanta, Georgia | Distribution center | 77,000 | 252,000 | ||
| Seattle, Washington | Distribution center | 140,000 | 238,000 | ||
| Modesto, California | Distribution center and manufacturing facility | 69,000 | 328,000 | ||
| Salt Lake City, Utah | Distribution center and packaging facility (three buildings)(5) | X | — | 153,000 | |
| High Point, North Carolina | Distribution center (two buildings)(6) | 132,000 | 829,000 | ||
| Kansas City, Kansas | Distribution center | 170,000 | 462,000 | ||
| Jackson, Mississippi | Distribution center | — | 271,000 | ||
| Kitchener, Ontario, Canada | Distribution center | 128,000 | 242,000 | ||
| Edmonton, Alberta, Canada | Distribution center | X | — | 38,000 | |
| Apodaca, Nuevo Leon, Mexico | Distribution center | X | — | 46,000 | |
| Dordrecht, Netherlands | Distribution center | X | — | 39,000 | |
| Saint Helens, United Kingdom | Distribution center | X | — | 14,000 | |
| Shanghai, China | Local re-distribution center | X | — | 12,000 | |
| (1) | Total number of tote locations for small parts storage included in facilities with an ASRS. |
| (2) | This property contains an ASRS with capacity of 52,000 pallet locations, in addition to the 547,000 tote locations for small parts. |
| (3) | As of May 2023, we no longer lease space for distribution-related activities. In 2024, an additional ASRS will go live at this property. |
| (4) | This facility contains an ASRS with capacity of 14,000 pallet locations, in addition to the 41,000 tote locations for small parts. |
| (5) | During 2021, we acquired land for future expansion of our distribution center in Magna, Utah, and, as of November 2023, earthwork is underway. This building is expected to be complete in June of 2025 and will be approximately 290,000 square feet. |
| (6) | In December 2018, we purchased an additional distribution center in High Point, North Carolina with approximately 750,000 total square feet. Approximately 395,000 square feet will be leased by the building's previous owner until December 2024. We currently utilize approximately 355,000 square feet for distribution activities. |
We also own, and in some cases, lease, the following support facilities, excluding selling locations:
| Location | Purpose | Leased | ApproximateSquare Feet |
|---|---|---|---|
| Winona, Minnesota | Manufacturing facility | 121,000 | |
| Indianapolis, Indiana | Manufacturing facility | 198,000 | |
| Houston, Texas | Manufacturing facility | 122,000 | |
| Wallingford, Connecticut | Manufacturing facility | 177,000 | |
| Rockford, Illinois | Manufacturing facility | 101,000 | |
| Johor, Malaysia | Manufacturing facility | 30,000 | |
| Brno-Lisen, Czech Republic | Manufacturing facility | X | 20,000 |
| Leeds, United Kingdom | Manufacturing facility | X | 28,000 |
| Winona, Minnesota | Multiple facilities for office space, storage, and packaging operations | 421,000 | |
| Bangalore, India | International information technology office | X | 45,000 |
In addition, we own 154 buildings that house our in-market locations in various cities throughout North America.
All other buildings we occupy are leased. Leased branches range from approximately 3,000 to 20,000 square feet, with lease terms of up to 120 months (most initial lease terms are for 36 to 60 months).
We currently own land for future distribution center expansion and development. If economic conditions are suitable in the future, we will consider purchasing branch locations to house our older branches. It is anticipated the majority of new branch locations will continue to be leased. It is our policy to negotiate relatively short lease terms to facilitate relocation of particular branch operations, when desirable. Our experience has been that there is sufficient space suitable for our needs and available for leasing.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.