Cardinal Health Leases 3031 Red Lion Road, Philadelphia, PA
Frank Roddy, President of Roddy, Inc., the Bensalem based industrial and commercial real estate brokerage firm announced that PCI Services, a subsidiary of Cardinal Health, Inc. (New York Stock Exchange: CAH) a leading provider of contract packaging services in health care leased 3031 Red Lion Road in the Philadelphia Industrial Park which consists of a modern, one (1) story building containing 92,000 square feet. The term lease calls for an annual rental of $320,000.00.
PCI which has its headquarters next door at 3001 Red Lion Road will utilize the new facility for both its clinical and logistics divisions after extensive improvements are completed. Basic improvements to the property will be completed by the ownership of the property, HBP Properties, L.P. and extensive office and plant improvements will be completed by PCI Services.
Founded in 1971, PCI currently has more than 1,500,000.00 square feet of manufacturing space in 15 sites in the United States, United Kingdom, Germany and Puerto Rico and has the capacity to produce 200 different products simultaneously in its packaging suites. Services include trials packaging and distribution; analytical lab services/stability studies; contract packaging/manufacturing; and printed components.
Hardeep Chawla, a principal of HBP Properties, L.P., ownership of the property, advised that Roddy, Inc. is continuing to market an adjacent 5-acre site, which is contiguous to 3031 Red Lion Road and was part of the original acquisition made through Roddy in February 2002. Chawla further advised that he recently cleared the site and prepared same for build-to-suit opportunities on a sale or lease basis.
Headquartered in Bensalem Township, Bucks County, Pennsylvania, Roddy Inc. is a marketer, manager and developer of industrial and commercial real estate throughout eastern Pennsylvania and southern New Jersey. Their clients include regional, national and international companies and financial institutions. For more information about the company, visit the corporate website http://www.roddyinc.com
For further details, contact Frank Roddy at (215) 245-2600 or FAX (215) 245-2670.