Newport Industrial Park
500 Water Street • Newport, Delaware
Overhaul and reconstruct a 1940s-vintage steel building located in the heart of New Castle County, Delaware into modern, usable Class A warehouse space.
The team approach demonstrated in the 500 Water Street project highlights just one of our core values. During this redevelopment project, the HHA team deployed an array of interdependent values that we commonly use on a range of single parcel in-fill development to 21st Century business campuses. These values include the following:
- Complied with all applicable laws and regulations, with special focus on community engagement and land use planning.
- Ensured that the building scope was compatible with the site footprint as well as the scale of nearby development.
- Assessed and shared project ratables, including, but not limited to: State and local revenue streams, construction and permanent employment, and the recurring revenue and capital investment related to the project.
- Through appropriate due diligence, lease space only to those tenants who can withstand the financial gyrations of the business cycle.
- Where appropriate, designed and utilized green building technologies.
- Revised existing infrastructure where possible.
- Adhered to safety and health excellence in all phases of construction and operations.
- Preserved and improved upon environmental features of the site, including suitable stormwater management, landscape enhancement, and mature tree preservation.
- Partnered, when possible, with governmental entities that provide mass transit to the redeveloped site to increase operations efficiency, reduce fossil fuel usage, and expanded employment opportunities at the site.
500 Water Street At a Glance
Warehouse / Manufacturing
Redeveloped, Class A warehouse constructed of concrete masonry, metal and wood stud framing, structural columns and steel bar joist, along with metal decking and an EPDM, fully-adhered, rubber roofing system.
COMMUNITY & ECONOMIC IMPACT RESULTS
During construction, the 500 Water Street Newport Industrial Park project supported 45 full- and part-time positions of all disciples.
When completed in 2011, 500 Water Street welcomed a new Delaware employer with 15 full-time employees. A leading provider of real-time, material handling, vehicle and inventory tracking technologies, their initial lease for nearly 15,000 square feet was comprised of Class A warehouse, manufacturing, and product demonstration space as part of this redevelopment and infill project.
Today, the Newport Industrial Park features a strong, evolving balance between manufacturing, science and technology, retail and wholesale operations, club sports and real estate entities – all of which make this a very active and high-energy business park.
Park Tenants include: Johnson Controls, Tile Market of Delaware, Autopart International, MSC Industrial Supply, Newport Rowing Club