Collectors Universe, parent company of PSA, will be expanding its existing headquarters and operations facility by an additional 62,870 square feet as the company pushes forward with plans to add automation to its grading and authentication procedures.
CU has entered into an agreement with its landlord to occupy more space adjacent to its current facility at Pacific Center in Santa Ana, California. The move will double their available space to 125,625 square feet. CU says the new agreement is to “accommodate the Company’s continuing growth and future expansion plans.”
According to a news release, CU plans to use part of the extra room to house automation solutions that would enable rapid image recognition and capture in an effort to increase the efficiency and volume of its trading card and coin grading business.
PSA has been attempting to dig out from a still growing backlog of submissions that has kept many customers waiting far longer than normal for their cards and autographs to be returned. They’ve hired additional employees and brought in an outside firm to make recommendations but processing orders in a timely fashion continues to be an issue, especially with COVID-19 safety requirements in place.
“We are extremely excited about securing this new space, as it greatly increases our operations capacity to support our growing backlog of business,” said Joe Orlando, President and Chief Executive Officer of Collectors Universe. “Due to the close proximity of the newly acquired location, we will not experience any material workforce disruptions or downtime that is typically associated with moving to an off-site location. The new facility has also recently been upgraded and has space for training rooms that we can utilize for quickly onboarding new people. In addition, this expansion will allow our IT, customer service and marketing personnel to return to the office, while still being able to adhere to social distancing guidelines. This new space not only gives our team the ability to grow our core authentication and grading operations, but also ample room to integrate technology solutions and support our long-term vision for the Company.”