Philadelphia – November 19, 2020 – INOLEX, an independent, global specialty ingredients company that delivers natural, sustainable and innovative technologies for health, wellness and beauty care brands around the world, has selected CBRE to sell the company’s 6.2-acre property located at 2101 South Swanson Street in Philadelphia, Pennsylvania (aka 16 Snyder Avenue).
For over a century, INOLEX housed its corporate headquarters and manufacturing in South Philadelphia, where it occupied 62,216 sq. ft. of manufacturing, warehouse and office space. In fall 2019, the company announced plans to relocate its manufacturing operations from Philadelphia to a new flagship manufacturing facility in Charlotte, North Carolina. Serving global production, the Charlotte site was brought fully online in early 2020. INOLEX intends to maintain a strong organizational presence in the greater Philadelphia region once the property is sold.
The veteran CBRE team comprised of Scott Gabrielsen, Patrick Green, Michael Mullen and Jeffrey Cohen will spearhead the comprehensive, extensive search for a buyer on behalf of INOLEX.
“The significant interest that we have already seen for this property is no surprise given its proximity to Center City, the Port of Philadelphia, Interstate 95 and Columbus Boulevard,” said Executive Vice President Scott Gabrielsen. “Our team is taking a hybrid approach to market the site and casting a wide net to attract both an industrial and retail pool of buyers.”
2101 South Swanson Street is located near many national prominent retailers such as Target, Lowe’s and IKEA, among others. The property is situated in an area identified by the Delaware River Waterfront Corporation (DRWC) Master Plan for the Central Delaware, which aims to transform the central Delaware River waterfront into a vibrant destination for mixed-use recreational, cultural, and commercial activities for the residents and visitors of Philadelphia, specifically between Oregon and Allegheny Avenues.
“Although the existing facility will be attractive to some industrial users, the value of the land and potential to deliver a new retail concept may be the highest and best use,” Gabrielsen added.
Built in 1920 and renovated in 2015, 2101 South Swanson Street has a wood and steel frame structure with a brick exterior. The industrial facility boasts four loading docks, four van height docks and two drive-ins.
“We are proud of our evolution and resilience as a sustainable ingredient supplier to health, beauty, and wellness industries,” said David Plimpton, CEO & President of INOLEX. “The transitioning of our US production platform to a new flagship manufacturing facility in Charlotte, NC was a generational move to serve global production for decades to come. Likewise, the divestiture of the Philadelphia site is an important next step in our long-term growth strategy.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
INOLEX is an independent, global specialty ingredients company that delivers natural, sustainable, and innovative technologies for health, beauty, and wellness. Guided by the Principles of Green Chemistry and lifecycle thinking, INOLEX balances technology and nature to create sustainable, life ingredients. The company delivers emerging ingredients across all major beauty care categories, focusing on new bio-based technologies that are authentically traceable and independently certified. Core technologies include Alternative Preservation; High-performance Polymers for Sun Care; Alternatives for Silicones; Natural and Quat-free Cationic Conditioning Agents; and Palm Alternatives, with a focus on plant-based, certified natural options in all categories.