Cole Schotz represented Delos Capital, a launched private equity firm based in New York City, in its recent acquisition of FCA Packaging. FCA Packaging is a leading manufacturer of highly customized and engineered packaging products and solutions for major original equipment manufacturers serving a number of industries including non-residential construction, heavy duty engines, agriculture, mining and energy. Cole Schotz advised the Delos team in acquiring the business from a group of private investors and partnering with one of the FCA founders as well as senior management in connection with the transaction, which closed on December 23, 2014. The Cole Schotz team was led by James Kim, Roger Iorio, Alan Rubin and Griffin Doty.
Cole Schotz represents Vitamin Shoppe Industries, Inc., a wholly owned subsidiary of Vitamin Shoppe, Inc., a publicly traded company in connection with its retail and office leasing. In particular, Cole Schotz represents Vitamin Shoppe in connection with the leasing and development of its new stores throughout the United States. The company has been actively expanding its chain of stores which sell vitamins, minerals, supplements, herbs and nutrition products.
Cole Schotz recently concluded negotiations for new stores in the following shopping centers: the Epps Bridge Centre in Athens, Georgia; the Shops at Gateway Plaza in Jacksonville, North Carolina; The Commons at Northpark in Midland, Texas; Forth Smith Pavilion in Fort Smith Arkansas; The Shops at Canton Crossing in Baltimore, Maryland; the Meijer Outparcel in Rossford, Ohio and a new strip shopping center to be built in Lafayette, Louisiana. The firm also recently concluded negotiations for a lease of ground floor retail space for a new store in a mixed use building located on Kings Highway in Brooklyn, New York.
In addition, Cole Schotz represented Vitamin Shoppe, as tenant, in connection with a 46,000 square foot office lease. This lease was for Vitamin Shoppe's relocation of their corporate offices from North Bergen, NJ to Secaucus, NJ. This lease for the entire 2nd and 5th floors at 300 Harmon Meadow Boulevard, was for an initial term of 15 years, which afforded Vitamin Shoppe the stability of a long -term lease, and also allowed Vitamin Shoppe the ability to expand its operations within the building in the future
The firm is currently representing the New Jersey Sports and Exposition Authority (NJSEA) in conjunction with a high profile case concerning the tax exempt status of the New York Football Giants Timex Performance Center located in the Meadowlands Sports Complex. In this matter, pending in the New Jersey Tax Court, NJSEA is seeking to vacate the Borough of East Rutherford's annual tax of approximately $1.6 million, based upon an assessment of $100,000,000, against NJSEA's National Football League tenant, the New York Football Giants, Inc. NJSEA maintains that the property and all improvements are "projects" of the NJSEA, pursuant to the applicable New Jersey Sports & Exposition Law, N.J.S.A. 5:10-1 et seq., and are therefore expressly made exempt by this Act. The Firm also has represented the NJSEA in connection with numerous other labor and contractual disputes.
Wakefern Food Corp. sought the expertise of our Real Estate Department in connection with the acquisition of ten operating supermarkets located in New Jersey and New York, from the Stop & Shop Supermarket Company LLC. We were successful in coordinating the engagement of environmental consultants, structural and mechanical engineers and a national title company; and managing completion of all due diligence reports within Wakefern's timeframe. This transaction was complicated by the fact that all due diligence issues related to the leases being acquired, condition of title, environmental and physical property conditions had to be reviewed and analyzed by our team on an expedited basis. The matter was further complicated by the negotiation of subleases for each location and the sub-sublease of each location to individual members of the Wakefern Food Corp. Despite these challenges, our team met Wakefern's expectations, closing this deal within the negotiated timetable.