"We are very happy to be remaining in North Bergen, where we have had such strong ties with the local community," according to Jeffrey Horowitz, founder and CEO. "This lease will allow us to consolidate our current buildings and unite all of our employees under one roof. It will ensure minimal workplace disruption in our move."
Before occupying the facility, The Vitamin Shoppe will install a new "pick and pack" distribution system to serve its retail store network, as well as its catalog and Internet sales. The building's existing office component will be expanded, according to Horowitz, to 40,000 sf, and the exterior façade of the facility will be substantially upgraded. The company also plans to seek local approvals to build a retail showroom on-site, which will be open to the public.
The Vitamin Shoppe, founded in 1977, recently opened its 100th store (in Princeton, NJ) as it continues its recent aggressive expansion program. The company plans to roll out another 50 stores nationally over the next 12-18 months, according to Corey Bialow, vice president of leasing, with about 25 of those stores expected to be in the tri-state New York metro area. "Our stores in this region, including New Jersey, are some of our oldest and best-performing stores," according to Bialow.
"This new facility will help fuel our growth by vastly improving our operations and service to our direct customer and to our stores," adds Tom Tolworthy, the company's president and COO. "We expect to capitalize on these improved efficiencies as we expand to a national presence.
Jared Horowitz of Cushman & Wakefield of New York represented The Vitamin Shoppe in the lease transaction. The owner of the property and terms of the lease were not disclosed.
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