23 January 2017

The West Valley Snags + Attracts A $1B East Coast Company for $20 Million Regional Hub

Mike Sunnucks reporter for Phoenix Biz Journal got the story on this at the same time giving some information about "the perks and incentives" offered by the City of Avondale that the City of Mesa rarely, if ever, bothers to inform the public and taxpayers about
Source: Phoenix Biz Journal 
$1B company picks West Valley for $20M regional hub
                                                                                             
The Vitamin Shoppe (NYSE: VSI) has picked Avondale for a new West Coast regional distribution and operations hub.
The Vitamin Shoppe, which has 800 stores, is leasing 187,000 square feet at an industrial development called the Coldwater Depot Center at Van Buren Street and 123rd Avenue west of Phoenix.
The company looked at sites in Reno as well as other West Valley cities off of Interstate 10 before landing in Avondale.
The regional hub is slated to employ 110 workers.
The capital investment for the project will total as much as $15 million with payroll at the site coming in at $4.4 million. City of Avondale officials also expect to see $2.2 million in online sales at the new project.
The New Jersey-based company had annual sales of $1.27 billion in 2015, according to Google Finance.
The Avondale City Council approved $600 per employee incentives to help Vitamin Shoppe hire and train workers. That will apply to the 110 jobs slated for the Arizona center.
The city is also fast-tracking permits for the project and will cap fees Vitamin Shoppe will pay at $20,000.
 
CBRE’s Pat Feeney helped bring the project to Avondale
 
Mike Sunnucks Senior Reporter Phoenix Business Journal
Mike Sunnucks writes about residential and commercial real estate, government, law, sports business and workplace issues.
                                           
 
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