TCC, CLARION PARTNERS ANNOUNCE LEASE OF COLDWATER DEPOT LOGISTICS CENTER – PHASE III

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.

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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.

 

 

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