CARDONE Industries, a leader in the automotive aftermarket, announced that it has sold its office and distribution location at 5501 Whitaker Avenue in Philadelphia to NorthPoint Development, a Kansas City-based private firm that has developed more than 49,000,000 square feet of industrial space nationwide since 2012.
The sale agreement includes a provision by which CARDONE will lease back the entire 1.2 million-square-foot site from NorthPoint and continue its distribution operations there.
“While the building will have a different owner, CARDONE will continue to occupy the site and maintain distribution operations there,” said George Zauflik, SVP Compliance/Gov’t Relations. “We believe this transaction strengthens CARDONE’s Vision 2020 plan while allowing us to continue to grow in our hometown.”
At the same time, CARDONE announced that it will begin its long-planned renovation of its nearby facility at 5660 Rising Sun Avenue. CARDONE anticipates that the renovation will begin in the Spring and take approximately 9-12 months to complete. Following the planned renovation, the Rising Sun facility will serve as CARDONE’s Global Headquarters and as the home for its expanding Innovation and Technology Center.
“We are committed to keeping our business headquartered in the City,” said Executive Chairman Michael Cardone III. “Today’s announcements reaffirm our intention to launch this new chapter of growth as we transform CARDONE Philadelphia into an innovation hub and a new, modern global headquarters. We look forward to the partnerships and opportunities that lie ahead.”
Some of CARDONE’s history, via their website:
CARDONE Industries was co- founded by Michael Cardone, Sr. and son, Michael Cardone, Jr., in a small row house in North Philadelphia. The year was 1970, and their niche was remanufacturing a single product line; windshield wiper motors. Over the years, the company has grown, now offering over 90 product lines and 46,000 SKUs of automotive hard parts.
“Our aggressive growth plan has taken us a long way from that row house in North Philadelphia,” said Michael Cardone, Jr. “But our culture still reflects that small business, familial mentality that was imprinted on the company at its inception. Our people – our “factory family”– are revered as CARDONE’s most valuable asset.”
Since its beginning over 48 years ago, CARDONE has grown from six employees into the largest privately-held automotive parts remanufacturer in the world. Headquartered in Philadelphia, Pennsylvania, CARDONE now employs over 5,500 employees with additional facilities in California, Arizona, Texas, Mexico and Canada.
Now in its third generation, CARDONE is positioned to take on the future. Raised in the traditions of their father and grandfather, Christin Cardone McClave serves as Chief People Officer, and Michael Cardone III serves as Executive Vice Chariman. “I have learned the company from the inside out,” said Cardone, III. “We’ve built a wonderful family and a wonderful corporation. I grew up here, and I intend to carry the CARDONE tradition into the ever-evolving future.”