Core-Mark Holding Co., a Fortune 500 company is moving its corporate headquarters to Dallas, from San Francisco, according to the Dallas Business Journal.

“Recently, we have finalized plans to relocate Core-Mark’s corporate headquarters to the Dallas-Fort Worth area,” McPherson said. “The move will take place during the first half of 2019. The cost of operating out of the San Francisco Bay Area (is) high, and while San Francisco is our longtime home, the business has expanded dramatically over the years.”

Dallas offers more favorable operating costs, lower taxes and a central location for Core-Mark’s nationwide business, McPherson said.

“Being closer to our customers and more central to our divisions will create cost and logistical efficiency for us,” he said.

The company distributes tobacco products and other items nationwide to convenience stores and other retailers.