FEATURE ARTICLE, OCTOBER 2004

NORTHEAST OFFICE & INDUSTRIAL PARKS

Collamer Crossings Business Park COR Companies Dewitt, New York COR Companies has begun construction on Collamer Crossings Business Park in Dewitt, N.Y. The first 90,000-square-foot flex office/industrial building will be complete late this year. COR Companies of Fayetteville, N.Y., is currently developing Collamer Crossings Business Park on 200 acres of vacant industrial land in Dewitt, N.Y. The park has 1,000 feet of frontage on Routes 481 and 298. The project is designed to attract a diverse cross-section of businesses. The park will be equipped to facilitate the needs of a variety of companies, including research and development, manufacturing and office space. The first phase of the park is now under construction and is expected to be complete late this year. It consists of an approximately 90,000-square-foot building located on 44 acres. Sensis Corp. has signed on to occupy a portion of the first building once it is complete. Plans are underway to expand the building by more than 400,000 square feet within the first 1 to 3 years. The master plan calls for a total of 1 million square feet at full build-out. The second phase is expected to occur over the next 10 years, with the development of an additional 600,000 square feet of manufacturing and office buildings.

Fairview Business Park Equilibrium Equities Harrisburg, Pennsylvania At full build-out, Fairview Business Park will include approximately 1.8 million square feet of warehouse and distribution space. The park s infrastructure and a 275,400-square-foot, build-to-suit building were completed in 2003, and another 705,000-square-foot building is now under construction, with completion scheduled for June 2005. The new structure will have more than a quarter-mile of frontage on Interstate 83, tilt-up concrete construction, cross-dock loading and 32-foot minimum clear heights. Equilibrium Equities of Wayne, Pa., developed the original building and has entered into a partnership with Liberty Property Trust on the development of the remainder of the 172 acres. A total of four buildings are planned for the business park, which is located near the intersection of Interstate 83 and the Pennsylvania Turnpike, just outside of Harrisburg. A future phase calls for a 797,500-square-foot building to be constructed on a build-to-suit basis. ¿The project was needed to support the numerous corporate users that have a need to enhance their supply chain efficiency and lower costs by moving into larger, state-of-the-art buildings in locations that serve their geographic areas,î notes Adam Meinstein, president of Equilibrium. Conewago Enterprises of Hanover, Pa., is the general contractor for the development and James Baumgardner Associates, also of Hanover, served as architect. Community Banks provided construction financing for the park.

SciPark Simon Developments East Windsor, New Jersey Lloyd Harbor, N.Y.-based Simon Developments is providing a unique research and development campus for high-tech, bio-med and pharmaceutical companies in the Northeast. The developer currently is constructing SciPark in East Windsor, N.J. The 270,000-square-foot park will cater to those seeking small laboratory property in central New Jersey, a prominent pharmaceutical research and development corridor in which 25 percent of the nation s drugs are produced. Construction is expected to commence in early 2005, with the park ready for occupancy in January 2006. Simon Developments will begin development of the 270,000-square-foot SciPark in early 2005. The four-building research and development park is designed to fit the needs of companies seeking small-size laboratories in the heart of New Jersey’s Princeton-Rutgers Research Corridor. ¿Unlike most of the big box flex space in central New Jersey, SciPark will meet the needs of smaller users and will feature the flexible structural design to accommodate a wide variety of tenant needs,î says Michael J. Simon, CEO of Simon Developments. The four-building corporate campus will feature 10 wet laboratory units, ranging in size from 6,000 to 80,000 square feet. Up to 2,950 square feet per 6,000-square-foot ground floor may be added to some units as mezzanine, office or lab space. According to Simon, vacancy rates for single-story, flex research and development facilities in the marketplace are under 8 percent, signifying strong demand for properties such as SciPark. Keith Hone of Hone & Associates is the project architect and Paul MacArthur of Trillium Realty Advisors is the development manager.

Brookline Corporate Center and Sawmill Park Russo Development Mahwah and Kearny, New Jersey Brookline Corporate Center is being developed by Russo Development. Hackensack, N.J.-based Russo Development is developing two speculative flex business parks totaling more than 600,000 square feet in Northern New Jersey, one of the most active industrial markets in the country. In Mahwah, Russo is developing the Brookline Corporate Center, a 316,000-square-foot flex space with capabilities to house data centers, as well as office, warehouse and distribution, and research and development space. The company plans to begin construction on the park immediately, starting with an 82,000-square-foot building to be complete in the third quarter of 2005. The second building, totaling 233,440 square feet, is in planning. Located on MacArthur Boulevard, at the junction of Interstate 287/78 and Routes 17, the park is accessible from both New York and New Jersey marketplaces. The buildings can be designed to accommodate tenants that wish to use the entire facility or they can be divided into units as small as 11,000 square feet. Amenities will include 32-foot ceiling clearing heights, ESFR fire protection systems, and tailboard and drive-in loading docks. Russo is also developing Saw Mill Park in Kearny, N.J., on a speculative basis. The 316,472-square-foot office and industrial project is now under construction, with the first of two 158,236-square-foot buildings expected to be ready for occupancy by the end of the year. The park is situated on the Belleville Turnpike, 3 miles from exit 15W of the New Jersey Turnpike, close to Newark Liberty International Airport and New York City, via the Holland and Lincoln tunnels. Saw Mill Park offers 36-foot ceiling clearing heights, a 500-pound floor load, cross-dock loading and ESFR sprinkler systems. The park also has the benefits of the New Jersey Business Employment Incentive as well as being located within a state-designated Urban Enterprise Zone.

Delaware Technology Park Newark, Delaware Delaware Technology Park was developed as a collaboration between the state of Delaware, the University of Delaware and private sector companies. The park is focused on economic development, particularly for technology-based companies. The center is adjacent to the campus of the University of Delaware, which owns the land. The non-profit park operates under a 50-year land lease. Delaware Technology Park The park has five buildings totaling 250,000 square feet and another 100,000-square-foot building is planned. Delaware Technology Park is equipped with many of the same amenities seen elsewhere, but has the additional benefit of working in close quarters with the state and university to offer technology-based companies a workplace environment specifically suited to their needs. ¿The biggest feature we have that most parks do not have any of, or have very little of, is wet labs,î says Michael Bowman, chairman and president of the non-profit park. ¿Our last building is expected to be a blend of an anchor tenant from the private sector (50 percent), an expansion of the university s Biotechnology Institute (30 percent) and some multi-tenant incubator space with labs.î Located in Newark, directly across the street from the University of Delaware, the Delaware Technology Park is occupied by 42 companies with 500 employees working in life sciences and information technology. Future plans are to expand the 40-acre park by two to three times that amount in the coming years.

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