In the News—Week of March 28 2022
Demand for lab space in San Diego area sizzles
A couple of decades ago every metro area thought it could become a hub for biotech. San Diego actually is one. The sector in this California city has seen strong growth during the past five years. And rents for lab space have nearly doubled to $74.88 per square foot from $41.52 in 2016, the Times of San Diego reports. “Life science real estate developers are reacting accordingly, developing ground-up buildings that take advantage of the city’s temperate climate by integrating outdoor amenities and advertising how their buildings can help companies attract and retain top talent,” Ted Jacobs of CBRE says.
Energy & Efficiency
Seagull wings, race car gadget inspire design for wind turbine blades
Scientists from China are using the feature of a seagull’s wing to create a more efficient blade for wind turbines, ScienceDaily reports. The idea comes from “bionic flow control,” a concept of imitating biological systems to increase efficiency in airflow. These turbine blades will borrow from another engineering device that comes from auto racing — the Gurney flap. The flap is named for Dan Gurney, a well-known race car driver. In 1971, Gurney was trying to help driver Bobby Unser in an Indy-car race at Phoenix International Raceway. Gurney came up with putting a small flap at the end of the spoiler to help stabilize the car. It became widely adopted in racing and has been used in other applications far beyond the track.
Houston developer plans to solve labor shortage by training workers
Back in March 2020, Horizon International Group got the OK to a 300-room W Hotel in downtown Houston. Two years and millions of dollars later, Horizon still hasn’t started construction. One of the biggest problems it faces is a labor shortage. So Horizon has decided to start its own construction training school, reports The Real Deal. “If you have a shortage of tomatoes, what do you do?” Al Kashani, vice president at Horizon, says. “Create a tomato farm. If it’s cold and freezing, what do you do? Build a greenhouse.” Horizon Workforce Development School will train 75 construction managers and will operate out of the former Peck Elementary School in Houston’s Third Ward. It is expected to cost the company about $600,000.
Durham-based investor buys business park in Dallas area
Dilweg, a commercial real estate investment firm based in Durham, North Carolina, has expanded its holdings in Texas, buy an 11-building property in Irving, Commercial Property Executive reports. The new owner is renaming the complex the Royal Tech Business Park. The purchase price was not disclosed. “As part of our overall creative repositioning, we have earmarked approximately $19 million to overhaul the look, feel and experience of the park,’’ Dilweg’s managing director of acquisitions, Blake Underwood, told Commercial Property Executive.
Developer says LG plans to build $2.8 billion manufacturing plant in Valley
LG Energy Solution Ltd., a subsidiary of South Korea-based electronics giant LG, has plans to build a $2.8 billion factory in Queen Creek, a suburb southeast of Phoenix, Commercial Property Executive reports. The development of the 1 million-square-foot manufacturing plant would be handled by developer ES America LLC. Queen Creek officials have signed off on the plan, but the developer has not purchased the land yet. It plans to do so Arizona State Land Trust auction in April.
Second line of Mexicable is nearing completion
The second line of the elevated Mexicable, which will link the Hank Gonzalez neighborhood in Sierra de Guadalupe to the Indios Verdes subway station in Mexico City, is 88% complete, Mexico Business News reports. The 8.25-kilometer line will have seven stations and is expected to begin operations in about three months. Authorities expect the cable line to serve about 29,000 users daily. The line is a joint venture between Mexico City and the State of Mexico governments.