Construction
Newmark Secures $135M Loan for Onyx/Russo's Cold Storage Dev in East Hanover
2024-12-04
Newmark, on Tuesday, played a crucial role by arranging a significant $135 million loan. This loan was facilitated on behalf of Related Fund Management, Onyx Equities, and Russo Development. The funds are dedicated to the construction of High Point on 10, a remarkable Class A build-to-suit cold storage and industrial development facility. Last month, the joint venture broke ground on this project in East Hanover, setting the stage for its growth.

Financing Arrangement and Partners

Newmark's Jordan Roeschlaub, Jonathan Firestone, and Nick Scribani demonstrated their expertise by securing the financing on behalf of their clients. The financing was obtained from Ares Commercial Real Estate Management. This collaborative effort showcases the strength and capabilities of Newmark in the real estate financing space.

Details of the Development Facility

High Point on 10 is set to offer an impressive approximately 584,000 square feet of cold storage and industrial space. Strategically located on a premier infill site, it provides immediate access to the entire New York City metro area. With more than 13.5 million people within a 30-mile radius, it offers excellent connectivity and potential for growth.RealCold has leased the 380,000-square-foot cold storage component of the facility. This partnership highlights the significance of the project and the trust placed in it by RealCold.

Impact on RealCold's Platform

Roeschlaub emphasized that this financing package will be a game-changer for RealCold. It will enable the continued expansion and success of their platform across the United States. With a portfolio spanning approximately 1.6 million square feet and nearly 180,000 pallet positions, RealCold is already a major player in the cold storage industry. Upon the completion of High Point on 10, they will be able to serve an even larger customer base.Specifically, they will be capable of servicing 48% of the U.S. population within one day and 97% within two days. This demonstrates the strategic importance and wide reach of the facility.
ABC Training Center Enrolling for 2025 Industrial Construction Classes
2024-12-04
Are you considering a fresh start in the industrial construction industry for the year 2025? Look no further than the ABC Training Center. This morning, we had the privilege of speaking with the Director of Education, Blaise Theard, along with Guy Rodgers and Erica Coleman, to bring you all the essential details.

Unlock Your Potential in Industrial Construction at the ABC Training Center

Enrolling for 2025 Classes

The ABC Training Center is now open for enrollment in classes that will kick off on January 6th, 2025. It presents a golden opportunity for those seeking to embark on a new journey in the industrial industry. With a range of courses available, students have the chance to gain the necessary knowledge and hands-on experience.

There are diverse options to get started. The training center offers courses in Electrical, Instrumentation, Heavy Equipment Operator, Millwright, and Welding. These programs are designed to enhance students' employability within the Industrial Construction Industry. Whether you prefer the 6-month accelerated classes or the standard 2-year courses, there is something for everyone.

Contractor Opportunities

Contractors actively scout the training center in search of qualified workers. This means that as you graduate, you might already have a job lined up. It's a win-win situation where your education leads directly to a promising career.

For more information on registration, simply visit their website HERE. The convenience of online registration makes it easier than ever to take the first step towards your new career.

Evening Classes

The evening classes offer a flexible schedule for those with other commitments. The courses include Electrical, Instrumentation, Heavy Equipment Operator, Millwright, and Welding. The class schedule is set for 2 nights per week, from 6 pm to 9 pm, allowing you to balance your studies with other aspects of life.

The class length is a 20-week semester, providing a comprehensive learning experience. And the deadline to enroll is December 19th, so make sure to mark your calendars and seize this opportunity.

Accelerated Classes

The accelerated classes are designed for those who want to fast-track their learning. The Electrical course schedule is from 8 am to 1 pm, Monday through Thursday, while the Welding course schedule is from 1 pm to 5 pm, also on Monday through Thursday. The class length is a 24-week semester, ensuring you gain in-depth knowledge in a shorter time.

Again, the deadline to enroll for the accelerated classes is December 19th. Don't miss out on this chance to jumpstart your career in the industrial construction industry.

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IH's 2+2 Tractor: An Innovative Success Amidst Challenges
2024-12-04
Brooks McCormick entered the International Harvester scene with high hopes but soon realized the challenges ahead. In 1971, as the direct descendant of Cyrus McCormick, he sat at the helm, longing for IH to introduce new tractors. He was painfully aware that their chief rival, John Deere, had claimed the top spot in ag equipment sales the previous decade, while IH was burdened by debt and an overly diversified manufacturing portfolio.

Stark Differences in Design

The IH 2+2 tractor stood out with its distinct design. Unlike conventional 4WD tractors, its 2+2 cabs were located behind the articulation joint, providing the operator with an excellent view of the equipment at work. The power plants were mounted ahead of the front axle, increasing the weight on the front-drive axle and enhancing traction. When pulling an implement, the draft load remained straight, similar to a standard 2-wheel-drive tractor, increasing tractive efficiency. This unique design made it a true crossover tractor, offering row-crop farmers the best of both worlds. 1: The placement of the cabs and power plants gave the IH 2+2 tractor a competitive edge. It allowed farmers to operate more efficiently and effectively, especially when working in row-crop fields. The design innovations were a result of IH's commitment to innovation and meeting the needs of farmers. 2: These design features set the IH 2+2 apart from other tractors on the market. It was a testament to IH's engineering prowess and their ability to think outside the box. Farmers who adopted the 2+2 tractor found it to be a game-changer in their operations.

A True Crossover Tractor

This tractor offered a range of features that made it a favorite among row-crop farmers. The engine compartment was completely enclosed, keeping the engine clean and reducing noise. Yet, the hood easily rolled forward for maintenance and repair. The cabs were quiet, featuring IH's Control Cab, providing a comfortable working environment. 1: The Category III 3-point hitch with IH's exclusive torsion-bar low-link sensing system was another advanced feature. It automatically adjusted the three-point height when encountering tough spots in the field, ensuring smooth operation. The hydraulic power system was designed to sense the amount of power needed and deliver only that, saving energy. 2: Later models like the 6388 and 6588 came with radial belt tires as standard equipment, boosting tractive efficiency. The 15.8-foot turning radius thanks to the 39° articulation steering was a surprise to many buyers, making it easy to navigate through rows.

2+2 Model History

Produced from 1979 to 1981, the 2+2 models included the 3388 with 130.5 PTO hp and 436 engine cubic inch displacement, and the 3588 with 150 PTO hp and 466 engine CID. In 1980 to 1981, the 3788 with 170.5 PTO hp was added. From 1982 to 1984, the 6388 and 6588 with 130.6 PTO hp and 150 hp respectively were produced. In 1983 to 1984, the 6788 with 170 hp was introduced. In 1985, the Super 70 Series 7288 with 175 PTO hp and 7488 with 200 PTO hp were produced. Models 7688 with 195 hp and 7888 with 300 hp were in development but never saw production. 1: The history of the 2+2 models shows IH's continuous efforts to improve and expand their product line. Each model had its own unique specifications and features, catering to different customer needs. 2: The production years and model variations highlight the importance of the 2+2 tractor in IH's history. It was a significant part of their lineup during a specific period.

Use of Existing Major Components

Despite its unique design, the 2+2 tractor employed a large number of tried-and-true components from other IH tractors. The rear half of Model 1086 2-wheel-drive tractors was used, equipped with an 8-gear transmission. IH also made use of existing 3-point hitch and PTO from 86 Series tractors. The power plants were based on existing models like the Model DT-436 turbo-charged unit for the 3388 and the Model DT-466 turbocharged engine for the 3588. Only the front ends were new and outsourced from a company in Japan. 1: Using existing components allowed IH to introduce the 2+2 models quickly. It demonstrated their ability to leverage existing technologies and resources to bring a new product to market. 2: This approach also helped in reducing development costs and time. It showed IH's strategic thinking in balancing innovation with practicality.

Rapid Succession of New 2+2 Models

The first two 2+2 models, the 3388 and 3588, were followed by the 3788 in 1980. Two years later, the Model 6388 was introduced, followed by the 6788 in 1983. In 1984, the Super 70 Series 2+2 was launched. Despite some tractor historians' claims, this rapid replacement was not a sign of design flaws but a way to capitalize on the tractor's popularity. 1: The successive introduction of new models shows IH's responsiveness to market demands. They were able to meet the evolving needs of farmers and keep the 2+2 line relevant. 2: The popularity of the 2+2 was evident in its sales figures. In its first year of production, nearly 3,000 model 3388 and 3588s were sold, representing over a quarter of 4WD sales in 1980.

Victim of the Times

IH had big plans for the 2+2 in the mid-1980s, with two additional models in development. However, the company's economic problems, including aging factories, mounting employee benefit costs, and management missteps, led to a financial meltdown. A devastating labor union strike in 1979 further exacerbated the situation. 1: The decline in 4WD sales from 1979 to 1983 was a sign of the changing times. Management seemed oblivious to this, continuing to increase production and grow inventory. 2: In 1984, Tenneco bought out IH's ag division and merged it with Case. As a result, the 2+2 line was eliminated, and the design was shelved forever. Case IH developed the Magnum line with front-wheel-drive instead.
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