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