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Colliers Concludes Full Building Lease at 2801 Red Lion Road

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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.

  
For more information:
Richard Gorodesky SIOR, Senior Managing Director
+1 215 460 5857 richard.gorodesky@colliers.com
 
Adam Gorodesky, Senior Associate

 

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About Colliers International

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.

 

 

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Richard Gorodesky

Senior Managing Director | Philadelphia

Philadelphia

Richard joined Colliers in 1995 after originally starting in commercial real estate in 1988. He is primarily responsible for the firm's industrial brokerage activity in the City of Philadelphia, but also works with clients throughout the eight-county metropolitan region and throughout the United States.

Drawing on his extensive business experience as a former Chief Financial Officer and venture capitalist, Richard is well established in the Philadelphia business community. He has frequently been invited to present in front of the Philadelphia City Council, concerning the attraction and retention of industrial business in the city, and continues to maintain strong relationships with numerous public officials, including the Philadelphia Industrial Development Corporation, The Commerce Department and several past and current members of the Philadelphia City Council.

Clients of Richard frequently speak about his professionalism and experience in handling difficult properties and complex transactions.

Richard sold one of the largest industrial properties in the country: The BUDD Company's 2.7 million square foot complex on 75+/- acres. He has also sold the largest industrial land site in Philadelphia (138 acres), twice.

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Adam Gorodesky

Senior Associate

Philadelphia

Adam joined Colliers in 2020 and is focused on selling and leasing industrial real estate in Philadelphia, serving his clients by using the Colliers regional and national platform. As a Certified Public Accountant, Adam is uniquely qualified to deliver trusted guidance to his clients. 

Previously, Adam was with Alterra Property Group in Philadelphia where he focused industrial, multifamily, and mixed-use properties, giving him a deep understanding of financial performance factors in a variety of commercial real estate sub-markets and product types. Prior to Alterra, he spent several years as a senior auditor with the Philadelphia office of the big four accounting firm KPMG, specializing in the Power & Utilities sector, auditing industrial clients and Fortune 500 companies. 

Adam is Argus Enterprise certified in addition to having strong real estate financial modeling and analytical skills in Excel.

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