Daily News: March 13, 2015

Tiger, PPL Sell Lia Sophia’s Assets

Tiger Group’s Remarketing Services Division and PPL Group are conducting a bulk sale of equipment and other assets from Lia Sophia’s Richmond Hill distribution center, and a turnkey sale of the direct-sale company’s Roselle headquarters and distribution center.

“These sales represent a unique buying opportunity for a wide range of warehousing and distribution operators in the Toronto area and in such nearby U.S. cities like Chicago and Grand Rapids, Michigan,” said John Coelho, SVP of Tiger Remarketing Services. “Both facilities offer highly sophisticated, state-of-the-art equipment in excellent condition, with the Richmond Hill assets being just three years old.”

Built in 2012, the custom-designed Richmond Hill facility offers pallet rack, pick-to-light, flow rack, and conveyor systems; as well as material handling and other equipment. The 180,000-square-foot Roselle headquarters and fulfillment center, which was built-to-suit in 2006, includes receiving, inspection, packaging, distribution, packout quality control, pick-to-light replenishment and shipping systems.

Previews of the various assets being offered are available by appointment. The Canadian facility is located at 75 West Wilmot, Richmond Hill, Ontario. The U.S. headquarters is located at 1620 Central Ave., Roselle. “Lease and purchase options will be provided to any parties interested in the turnkey opportunity at Roselle,” Coelho added.

For more than two decades, Lia Sophia sold necklaces, bracelets, earrings and rings, under an independent sales representative business model, similar to the one used by Avon and Tupperware. Citing “the challenging business environment,” the company began to wind down the business in the United States and Canada in December 2014.

Key assets featured in at both facilities include like-new receiving, inspection, packaging, distribution, packoutquality control, pick-to-light replenishment- and shipping-systems. Wildeck mezzanineguard railsafety bollards are positioned throughout the facilities, which also feature hundreds of sections of Interlake and Speedrack pallet racking, and complete conveyor systems. Roselle also includes two A-frames serviced by 912 storage bays of Interlake pick modules.

Packaging and shipping equipment at each facility includes Bel Wexxar case formers and sealers, and Bel Wexxar fast pack erectors and formers. Material handling equipment includes Crown counter balance lift trucks, stock pickers, and walk-behind pallet lifts. Both facilities also include two Kaeser compressors.

The Roselle facility encompasses 180,000-square feet of ground-level warehouse and office space with high-cube ceilings, plus a 30,000-square-foot mezzanine for return exchange functions. The building offers 25 dock doors and two drive-in overhead doors, as well as a 12-ton elevator. Assets in its more than 30,000 square feet of executive, management and inspection space include Herman Miller office systems, a voice-over-internet-protocol phone system, a network computer system, laptops and other office equipment, as well as a large cafeteria.