"Since we started the development process, there hasn't been a single day where I've questioned the decision we made to go with SunCap." Steve Salvatore, Magna Automotive
"Provided a turn-key solution for planning, designing and building this facility on a virgin site and delivered within one year of ground breaking ... on time and on budget." Mike Tarulli, Senior Vice President, Corporate Real Estate, North America, HSBC Bank USA
"You assembled a great team of experts and everyone performed admirably..." Ed Bennett, Chief Administration Officer, NASCAR
"We couldn't have done it without you." Larry E. Teel, Executive Vice President, Fischer & Company
"We knew our challenges would be many, but you proved time and again that we made the right decision in our selection of developers." Ed Bennett, Chief Administration Officer, NASCAR
"We know how difficult the permitting process was but you and your team performed admirably on this build to suit development and got us in on time and on budget." Joe Marsico, Real Estate Acquisition Specialist, Fortune 500 Distribution Company
"Not only are you good at what you do, you make it fun on a day to day basis." Carole Kent, Investment Limited Partner, J.C. Bradford & Co
"I also want to thank you personally for your honesty and integrity throughout the process. In the end, you made all of us look good at NASCAR." Ed Bennett, Chief Administration Officer, NASCAR
"Your hands-on management of the project and your "can do" attitude were key to the success." Joe Marsico, Real Estate Acquisition Specialist, Fortune 500 Distribution Company
"You consistently delivered the quality service, teamwork, expertise, and product that one would expect from a first rate developer." Stan Ciepcielinski, CFO, Glenayre
"Has been our partner in the truest sense of the word." Jon Morris, Managing Partner, Morris, York, Williams, Surles and Brearley, LLP
"Outstanding work that you and your organization did in our new corporate headquarters." Scott Ambler, CFO, RSI, Inc.
"SunCap has demonstrated an ability to successfully navigate the most complicated entitlement processes and developments in a wide array of markets." Commercial Real Estate Portfolio Manager, Regions Bank
"We believe them to be one of the top developers based in our market and look forward to our continued successful relationship." Commercial Real Estate Portfolio Manager, Regions Bank
"We found your team at SunCap to be an excellent group with which to work throughout the entire process. We appreciated the open lines of communication that were maintained during all negotiations." Project Manager, Pacolet Milliken Enterprises
"Your access to capital, ability to mitigate any issues that arose and determination to close on the site were significant factors resulting in a most successful transaction." Project Manager, Pacolet Milliken Enterprises
"It was critical that you performed as you initially claimed you would - you definitely did so and exceeded our expectations on all accounts." Project Manager, Pacolet Milliken Enterprises
"From the outset of our dealings with SunCap, it was clear that they were in command of the resources to close quickly without the encumbrances of an investment committee or board approval." President, Weber USA Corporation
"The level of communication and professionalism from the SunCap group gave us every confidence the transaction negotiation and resolution would be positive." President, Weber USA Corporation
"SunCap Property Group fostered a relationship built on trust and open communication. Any issues or concerns were quickly resolved." Assistant Secretary, The Nolim Group
"From initial meeting to real estate closing, SunCap Property Group managed the due diligence process with professionalism and a sense of urgency, which resulted in a successful transaction for both parties." Assistant Secretary, The Nolim Group

Facts

New York City, Queens, NY
Fully-automated Package Sorting Facility
Start Date: November 2011
Completion Date: March 2013

Featured Project

Distribution Center
Queens, NY

FedEx Ground awarded SunCap Property Group the development of this state-of-the-art fully automated sorting facility in September of 2011. Construction started in October 2011, and the project was delivered on time and on budget in March 2013.

The site is located on the Long Island Expressway in Queens, NY approximately 1/2 mile from the Queens Midtown Tunnel and represents a critically important distribution facility for FedEx Ground in Manhattan and other New York City surrounding boroughs.

View project video

The following represents our ability to deliver for FedEx:

Site Identification and Assemblage

With the assistance of Fischer & Company, SunCap was able to research and identify an opportunity to assemble three separate "off market" properly zoned parcels of land totaling approximately 12 acres in the tightest industrial market in the country.

Demolition

The project entailed the demolition of approximately 365,000 square feet of existing industrial buildings built in the 1950s. In addition, there were other site challenges that, amongst other things, included driving over 500 piles and the abandonment of a rail spur.

Wetlands and Bulkhead Repair

Offsite wetland mitigation and marine bulkhead repair challenges were solved.

Environmental

Significant environmental clean up and building asbestos abatement were remediated prior to construction.

Schedule

This very complicated project was also challenged by several significant weather events including Hurricane Sandy and subsequent utility servicing delays by ConEd. The project was delivered on time.

Budget

The project was delivered on budget.

Complicated Transaction Structure

The project included fee simple ownership by SunCap on a portion of the project as well as a long term ground lease and separate building lease on the other portion.