ST. PETERSBURG, Fla., April 14, 2015 /PRNewswire/ -- New York-based Twinlab Consolidation Corporation (TCC) announced today that, as the result of anticipated expansion of its businesses following recent mergers and acquisitions, it has outgrown its current corporate office spaces and after an extensive search will establish its new, integrated corporate headquarters in downtown St. Petersburg, Fla., later this year. The health and wellness company has leased two floors totaling 30,600 square feet at First Central Tower. Sanford Mahr of The Mahr Company acted as the broker for TCC in their expansion to St. Petersburg. TCC was represented by Jonathan Weiss, Esq., Partner at Wilk Auslander LLP.
"Downtown St. Petersburg is a terrific location for our company, which is focused on health and wellness," said TCC CEO Tom Tolworthy. "The weather, along with St. Petersburg's waterfront location, promotes a dynamic, healthy lifestyle for which our products are known." Like New York, St. Petersburg is a truly "walkable downtown" with hundreds of acres of dedicated city parks that run along the waterfront. TCC expects to bring 80 employees to the area – many through relocation from New York City, Grand Rapids, and Utah. TCC anticipates hiring additional staff from the local St. Petersburg area.
"TCC is committed to supporting American jobs," said Tolworthy. "St. Petersburg and the State of Florida provided a terrific business platform for the establishment of a corporate headquarters for what we believe will be a growing national and international business. In addition, this new office space will allow us the flexibility to expand the manufacturing footprint within our 165,000-square-foot manufacturing facility in American Fork, Utah, where we proudly manufacture some of the best known brands in the industry, including Twinlab®, Twinlab® Fuel, Metabolife®, Trigosamine®, and Alvita® teas."
"We are thrilled that TCC has chosen First Center Tower for their corporate headquarters," stated Larry Feldman, CEO of Feldman Equities, one of the building's owners. "We have been bullish on the downtown St. Pete market as evidenced by our purchase of three of its signature office buildings over the past few years. We welcome TCC in joining downtown St. Pete's impressive revitalization." According to Feldman and the decision makers at TCC, downtown St. Petersburg has a higher quality of life than almost any other downtown in the state. Within walking distance from First Central Tower, there are seven museums, over 45 restaurants, a theater for the performing arts, a major league baseball stadium, soccer stadium and nearly a dozen marinas.
A joint venture consisting of affiliates of Feldman Equities, Tower Realty Partners and Second City Real Estate acquired First Central Tower, a 17-story, 250,000-square-foot office building late last year. The group intends to invest nearly $10 million in building renovations and tenant improvements including a state of the art fitness center – a major draw for TCC.
Redevelopment plans for First Central Tower include an extensive lobby renovation, upgraded tenant-floor elevator lobbies, tenant corridors and restrooms. In addition, ownership will be adding an amenity package that will include a new concierge desk, a state-of-the-art luxury fitness center and conference center. In keeping with current office space trends towards hip, high-tech spaces, one of the lower floors will be converted to a common tenant lounge area. The lounge area will include soft seating, large flat-screen TVs, iPad chairs and free WIFI. Mechanical/system upgrades will include a completely new modern elevator system and new elevator cabs. The parking garage will be upgraded with new paint and upgraded LED lighting.
First Central Tower is anchored by BB&T Bank whose name tops the building, Abbey Adams Law, Traub Lieberman Law and TCC. Tenants on the building's upper floors enjoy beautiful views of Tampa Bay and the St. Petersburg skyline. Located in the heart of downtown St. Petersburg, First Central Tower sits on the southeast corner of Central Avenue and 4th Street.
About Twinlab Consolidation Corporation
Twinlab Consolidation Corporation, a wholly-owned subsidiary of Twinlab Consolidated Holdings, Inc. ("TLCC"), is an industry-focused health and wellness company committed to developing top brands. An employee-controlled company, TCC aligns the interest of all stakeholders, has a portfolio of products that are made in America using the finest ingredients from around the world, and provides premium quality contract manufacturing services through its subsidiary NutraScience Labs, Inc. In addition to its namesake brand, Twinlab®, established in 1968, TCC also manufactures and sells other well-known category leaders including the Metabolife® line of diet and energy products; Fuel line of sports supplement products; Alvita® teas, established in 1922 as a single-herb tea line; Trigosamine® joint support products as well other health and wellness brands. Twinlab's manufacturing facility in American Fork, Utah is an NSF GMP and NSF GMP for Sport certified facility. Visit www.tchhome.com for more information.
Forward Looking Statements
Statements we make in this press release may include statements which are not historical facts and are considered forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are usually identified by the use of words such as "anticipates," "believes," "estimates," "expects," "intends," "may," "plans," "projects," "seeks," "should," "will," and variations of such words or similar expressions. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Securities Exchange Act and are making this statement for purposes of complying with those safe harbor provisions. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Although we believe that our plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control including, without limitation, those risks set forth in the "Item 1A. Risk Factors" section of the Annual Report on Form 10-K filed by TLCC with the Securities and Exchange Commission on March 31, 2015 as updated by TLCC's other SEC filings. We assume no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Twinlab Consolidation Corporation