Pharmavite Signs 10-Year Lease for Valencia Complex

In one of the bigger deals of its kind this decade, Pharmavite Corp. has signed a 10-year industrial lease for a 738,760-square-foot complex in the Vista Business Park in Valencia.

Cushman Realty Corp., which represented Pharmavite, placed the value of the deal at about $50.5 million.

Pharmavite, a leading maker of nutritional supplements, will relocate production and product development activities from San Fernando, and will move its West Coast distribution center from another Valencia location.

Mission Hills-based Pharmavite, which is best-known for its Nature Made Vitamins and Vitesse Effervescent Supplements, has leased two buildings that were recently completed in the business park, and two other facilities that are under construction.

The company will move into one of the buildings immediately. About 600 Pharmavite employees will be housed at the site.

Investment Development Services, the developer of Vista Business Park, and Kennedy Associates Real Estate Counsel Inc., the owner of the property, were represented by Grubb & Ellis Co.