The Vitamin Shoppe, Inc. to Occupy the 186,643-Square-Foot Project
Trammell Crow Company (TCC) and partner New York-based Clarion Partners, LLC announced that The Vitamin Shoppe, Inc., a leading health and wellness retailer headquartered in Secaucus, New Jersey, has signed a 12-year full-building lease at Coldwater Depot Logistics Center, Phase III. The new facility will be the Company’s Western Region distribution center, serving customers within the western half of the US from Texas to Washington. Tenant improvements are slated to commence later this month. The Vitamin Shoppe will begin operations in the back half of 2017. Clarion is developing the property on behalf of a commingled fund managed by the firm.
Commenting on the project, Richard Tannenbaum, Senior Vice President, Supply Chain with The Vitamin Shoppe stated, “We are very pleased to establish a West Coast distribution presence in the city of Avondale. The Coldwater Depot Center will be a flagship facility for The Vitamin Shoppe and enable us to enhance service and speed to our stores and e-commerce customers. We were delighted with the warm welcome and involvement from everyone on the project and are excited to put down roots in the community.”
Founded in 1977, The Vitamin Shoppe is a leading multi-channel specialty retailer and contract manufacturer of nutritional products with over $1 billion in annual revenue and more than 750 stores throughout the U.S. and Puerto Rico. The Vitamin Shoppe trades on the New York Stock Exchange (NYSE:VSI).
Avondale Mayor Kenn Weise extended a welcome to the new development, stating: “Not only are these great jobs for the community, the Vitamin Shoppe’s culture of wellness dovetails nicely with Avondale’s emphasis on health-related initiatives such as the McDowell Road Health-Tech Corridor. I was impressed with the employee programs that make them a premier employer.”
“We are pleased to welcome The Vitamin Shoppe to Avondale and to the final phase of Coldwater Depot, and are excited to deliver a best in class distribution center that will facilitate the company’s continued business growth throughout the U.S. and globally,” said Cathy Thuringer, Principal with TCC’s Phoenix Business Unit.
“We are delighted that The Vitamin Shoppe has selected the Coldwater Depot project to serve their outlets in the western half of the United States," stated Courtney Cahill Phelps, Asset Manager and Senior Associate with Clarion Partners. “We look forward to a long-term relationship with this quality tenant.”
Coldwater Depot Logistics Center Phase III is a Class A industrial building featuring a cross-dock design with dock-high and grade-level loading, 30-foot ceiling clear heights, trailer parking and secured truck courts. The project is located on 11.4 acres at the northeast corner of Van Buren and 127th Avenue in Avondale, Arizona. The site is directly adjacent to the first two phases of the Coldwater Depot Logistics Center master-planned project, which were acquired in 2013 by an affiliate of Lake Washington Partners out of Issaquah, Washington and are currently occupied by Conn’s Home Plus and SanMar Apparel.
Evolution Design serves as architect and D.L. Withers Construction will serve as general contractor for the tenant improvements. Pat Feeney with CBRE Phoenix represented The Vitamin Shoppe, Inc. Rusty Kennedy and Danny Calihan with CBRE Phoenix represented the Landlord.
About Vitamin Shoppe, Inc.
The Vitamin Shoppe is a multi-channel, specialty retailer and contract manufacturer of nutritional products based in Secaucus, New Jersey. In its stores and on its website, the Company carries a comprehensive retail assortment including: vitamins, minerals, specialty supplements, herbs, sports nutrition, homeopathic remedies, green living products, and beauty aids. In addition to offering products from approximately 850 national brands, The Vitamin Shoppe also carries products under The Vitamin Shoppe®, BodyTech®, True Athlete®, MyTrition®, plnt®, ProBioCare®, Next Step® and Betancourt Nutrition® brands. The Vitamin Shoppe conducts business through more than 750 company-operated retail stores under The Vitamin Shoppe and Super Supplements retail banners, and primarily through its website, www.vitaminshoppe.com. Follow The Vitamin Shoppe on Facebook at https://www.facebook.com/THEVITAMINSHOPPE and on Twitter at https://twitter.com/VitaminShoppe.
About Clarion Partners
Clarion Partners, an SEC registered investment advisor, FCA authorized manager and FINRA member firm, has been a leading U.S. real estate investment manager for more than 34 years. Headquartered in New York, the firm has offices in Atlanta, Boston, Dallas, London, Los Angeles, São Paulo, Seattle and Washington, D.C. With $43.1 billion in total assets under management, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to its more than 200 domestic and international institutional investors. More information about the firm is available at www.clarionpartners.com.
About Trammell Crow Company
Trammell Crow Company (TCC), founded in 1948, is one of the nation’s leading developers and investors in commercial real estate. The Company has developed or acquired more than 2,600 buildings valued at more than $60 billion and over 565 million square feet. As of September 30, 2016, TCC had $7.1 billion of projects in process and $3.7 billion in its pipeline.
Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 16 major cities throughout the United States. The company serves users of and investors in office, industrial, retail, healthcare, multi-family residential, through its operating subsidiary High Street Residential and mixed use projects. For those who occupy real estate, TCC can execute the development or acquisition of facilities tailored to meet its clients’ needs. For investor clients, the company specializes in joint venture speculative development, acquisition/re-development ventures, build-to-suit development or providing incentive-based fee development services.
TCC is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, and the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). For more information, visit www.TrammellCrow.com.