180,171 Square Feet Leased to Top Vitamin Manufacturer in the U.S.
PHILADELPHIA, PA September 21, 2022 –The team of Richard Gorodesky, SIOR and Adam Gorodesky, CPA have successfully leased 2801 Red Lion Road to International Vitamin Corporation on behalf of First Industrial Realty Trust.
The property, at 180,171 square feet, is one of the largest single tenant industrial facilities in the City of Philadelphia, covering 10.89 acres and located off the Roosevelt Boulevard (US Route 1) and adjacent to the Northeast Airport in Northeast Philadelphia.
Representing First Industrial Realty Trust in the transaction, this lease will insure zero vacancy once the existing tenant's lease expires later this year. Colliers has kept this building continuously occupied since 2011, with the initial lease being to TJX who will be relocating to a larger facility at 9801 Blue Grass Road, which was also brokered by the Colliers team.
International Vitamin Corporation (IVC), headquartered in Irvine, California, is the number one seller of private label store brand vitamins and supplements in the United States and a contract manufacturing partner to consumer wellness brands.
IVC will be expanding its presence in Philadelphia and is expected to take occupancy at 2801 Red Lion Road in the 1st quarter of 2023.
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 67 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.0 billion ($3.3 billion including affiliates) and $40 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers or LinkedIn.