New 74,000-square-foot facility to contain office and retail space
BY STAFF REPORTS
The Herald-Sun (Durham, N.C.)
Updated: 07-25-2011 11:21 am
DURHAM -- A groundbreaking ceremony will be held today as an official marker of the start of construction of the Measurement Building at Morris Ridge that was expected to begin this month.
Measurement Durham LLC, the real estate development arm of the educational testing firm Measurement Inc., announced recently that it had formed a company, Measuring Building LLC, to construct and finance a new 74,000-square-foot, Class A office and retail facility downtown.
The building will be at 404 Hunt St., at the corner of Hunt and Morris Streets. The location is adjacent to the Durham Farmers Market and Durham Central Park and is one block south of the Durham Athletic Park.
Construction was expected to begin in July on the five-story building with a red brick exterior. The building was slated to include five ground-floor retail bays, and flexible office layouts.
Measurement Inc. is planning to be the major tenant of the building, taking up about half of the space. The remaining area will be leased to other tenants, including Urban Planet Mobile.
"We are very pleased to facilitate (Measurement Inc.)'s continued investment in Downtown Durham," said Bryan Scherich, director of operations and development for Measurement Durham LLC, in a news release.
Measurement Inc. owns and occupies several other buildings in downtown Durham. It moved its headquarters downtown in 1994 after purchasing and renovating the BC Remedy Building, and has since expanded into two other renovated, historic facilities within two blocks: the Brodie Duke Building and the Imperial Tobacco Building.
The Measurement Building will be the first constructed as part of a larger development, branded as "Morris Ridge," that's planned for the block bordered by Hunt, Morris, and Corporation streets and Durham Central Park.
Capital Bank is providing financing for the building. Choate Construction Company will be the general contractor. Other companies involved in the project are Hoke/New Vision Architects, Civil Consultants, and Comfort Engineers.
Cantronic Systems awarded $4.5M contact by China's Jiangsu province
Project to include integration of video surveillance with smart building systems
By Market News Publishing
Updated: 07-20-2011 12:48 pm
Cantronic Systems Inc. announced that it has been awarded a contract to provide video security and protection systems in China's Jiangsu province totalling RMB 30 million (approximately Canadian $4.5 million).
The project will begin in September 2011 with duration of one to two years. Cantronic will supply and install complete solutions that will integrate video surveillance with smart building systems, such as video intercom, access control and alarm monitoring.
Cantronic will receive 10% of payment in advance with milestone payments to be made as the project progresses and 90% of payment to be received by the project completion date.
"This project award reflects our experience in providing video surveillance systems for China's booming commercial building market in addition to government contracts such as those provided under the nation-wide Safe City program. The payment terms will enable us to preserve working capital as Cantronic continues to grow its business of providing complete networked video surveillance system integration as well as OEM and ODM manufacturing of IP video cameras along with its proprietary software management platform," said James Zahn, President and CEO of Cantronic Systems Inc.
Olin Chlor Alkali Products building $160M manufacturing facility in Tenn.
Facility scheduled for completion by the end of 2012
By PRNewswire
Updated: 07-25-2011 11:29 am
CLEVELAND, Tenn., July 22, 2011 /PRNewswire/ -- Cleveland-based Olin Chlor Alkali Products, a division of Olin Corporation (NYSE: OLN), broke ground today at its plant in Charleston, TN, for a new state-of-the-art membrane cell manufacturing facility. Olin is investing $160 million in the new facility, which is scheduled for completion by the end of 2012. When completed, the new facility will produce the highest quality chlorine, caustic soda and related products and have a capacity of 200,000 tons, including an expansion of the plant's production of potassium hydroxide (KOH). The technology change will allow the plant to meet the growing need for KOH that is important to the production of food, fertilizers, herbicides, soaps, detergents, airplane de-icing fluids and other key products. Once installation of the new technology is in place at the Charleston plant in 2012, mercury will not be a part of the manufacturing process.
"We are delighted to make this investment in the Charleston community, which has been home to our plant since 1962," said Frank Chirumbole, president of Olin Chlor Alkali Products. "The Charleston plant is ideally suited to continue meeting the needs of our customers. We are especially grateful to the State of Tennessee, which has provided generous incentives to assist with the financing of the project, including $41 million of tax-exempt variable rate Recovery Zone Facility bonds."
"Olin is a well-respected corporate citizen in Bradley County, and we appreciate the company's continued commitment to and investment in the community," Tennessee Governor Bill Haslam said. "Established Tennessee companies such as Olin provide a solid foundation on which our state's economy will continue to grow."
"After almost 50 years in business, Olin is a great success story for Tennessee," said Bill Hagerty, Commissioner, Tennessee Department of Economic and Community Development. "My department has renewed its focus on existing industries because we understand they are by far the biggest job creators in the state. My thanks to Olin for choosing to retain these good, high-quality jobs in Tennessee."
Overall in Tennessee, Olin Chlor Alkali Products employs approximately 350 people at the Charleston plant and the company's Cleveland headquarters. Olin's investment in the Charleston plant is expected to generate hundreds of other construction and related jobs in the region. The plant, located on the Hiwassee River, is a key supplier of building block chemicals to many companies in Tennessee and around the world. Its products play a key role in water disinfection and food processing and in the manufacture of pharmaceuticals, plastics, paper and electronics. The Charleston plant is one of 10 Olin Chlor Alkali Products facilities in North America.
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