Last week, Harvey Hanna & Associates, a commercial development company in Delaware, hosted a breakfast walking tour of the Twin Spans Business Park. Policy makers, State and County Chamber and DEDO representatives, State Senators and State Representative and some local business leaders were in attendance. The hope is to replace long time tenant, Five Below, with one to four new tenants.
Five Below is currently leasing 421,291 square feet of warehouse space at the business park and will be moving its distribution center across state lines to New Jersey this summer to a larger facility. Five Below’s current space in Delaware allows for processing 50,000 boxes a day, with 59 loading docks for trucks. The Twin Spans Business Park has been a distribution center for store chain giant, Five Below since June of 2007. The company doubled its space in 2010.
Harvey Hanna & Associates (HHA) is a full-service Commercial Real Estate Development Company, featuring 3 million square feet of prime-location Industrial and Commercial real estate in the mid-Atlantic region. HHA has long had an outstanding reputation as a pro-active landlord of Class A warehouse and office space in the Delaware commercial real estate market.
The company’s president, E. Thomas Harvey, makes a great effort to get to know his tenant’s needs and goes to great lengths to customize the commercial properties to meet those needs. Harvey and his business partner, Thomas J. Hanna started developing Heavy Industrial, Light Industrial, Marketing, Distribution, Manufacturing, and Corporate Offices in the mid-Atlantic region along the I-95 corridor when they realized that they were optimally positioned for rapid economic growth due to the convenient location to four states (PA, NJ, DE, MD).
The Twin Spans Business Park is considered the premier distribution campus in the mid-Atlantic Region and has the presence of strong, recognized companies (Tire Rack, Zenith Products, Speakman Company) mixed with well know regional entities. It is located in New Castle, Delaware, just minutes away from I-95, I-295, I-495, Routes 9 & 13 and two miles south of the Delaware Memorial Bridge. The 421,291 square feet of dividable office and warehouse space will be available this fall and can rented in its entirety or can be sub-divided to accommodate up to 4 different leasees.
Promises Made, Promises Kept at Lighthouse Cove Resort in Dewey Beach
Dewey Beach Enterprises (DBE) announced yesterday that the company is ready to move onto the next phase of construction of the Lighthouse Cove Resort located at Dickinson Street on the Bay of Dewey Beach, Delaware.
The press release cited the overwhelming success of the newly built Hyatt Place Hotel in tandem with the sales of 14 of the 16 Oceanside condominiums as a sign that the second stage of the project should begin this fall and that more details would be released later this month.
“The pricing threshold achieved to date at the Residences at Lighthouse Cove is unprecedented in Dewey Beach, in part, due to the First Class amenities that are available on site,” stated Clint Mann, Vice President of McWilliams Ballard Inc., the company managing the sales and marketing of the Residences at Lighthouse Cove.
The average purchase price for the luxury penthouse condominiums at Lighthouse Cove is $695,314, nearly 2x (twice) the market per square foot value, thereby setting a new price standard in the Dewey Beach market. The Residences at Lighthouse Cove sales attributed to 40% of all condominium sales in the local market for the 2014 season to date.
The tax revenue created from the sale of the condos and subsequent revenue streams have financially benefited the Town of Dewey Beach, along with state, county and local municipalities.
Additionally, the Lighthouse Cove resort has generated 83 full-time and seasonal jobs at the Hyatt Place Hotel; nourished more than 100 full-time and seasonal jobs at the onsite Que Pasa and Lighthouse Restaurants; and created hundreds of construction jobs of all disciplines.
“We are thrilled with our progress to date, and our expansion plans are the direct result of our success and the commitments we have honored,” stated E. Thomas Harvey, DBE president.” DBE will build upon this positive economic performance as it commences the next phase of development later this autumn,” Harvey added.
DBE promised that the creation of the Hyatt brand hotel, combined with the sale of Oceanside penthouse units, would generate a positive economic contribution to the community, because its innovative product featured an array of 21st Century lifestyle amenities. The resort redevelopment project has created hundreds of construction, seasonal, and permanent jobs; and is helping Dewey Beach transition to a family-friendly 21st Century year-round resort.
Details on the next phase of construction are expected later in September