California construction giant makes move into NYC market

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San Francisco construction company, Swinerton, announced it
is entering the New York market for the first time in the firm’s 133-year
history.

Ranked among the top general contractors in California, the company said it has accelerated its business plan by five years to capitalize on the city’s post-pandemic recovery.  

ERIC FOSTER

“Despite the uncertainty due to the pandemic that adversely
impacted New York City, particularly in the office market sector, Swinerton
sees opportunity in crisis,” said Eric Foster, CEO of Swinerton.  “We build nationally and will connect with
our long-standing clients to serve them best in one of the hardest hit areas of
the country.”

The company has signed a five-year lease for 6,035 s/f of
office space at Vanbarton Group’s 292 Madison Avenue in a deal brokered by a
team from JLL. Interior Architects (IA) is currently building out the space to
accommodate a team of 20 employees to be led by Andrew Pearl, a former New
Yorker returning to his roots from Swinerton’s California headquarters division
manager of  the new operation.

The company is currently working for Fortune 500 Corporate Services clients in Pennsylvania, Maryland, Washington D.C. and Virginia, and has already secured work in New York City completing on an interiors renovation project for a national financial tech client.

ANDREW PEARL

According to Pearl, Swinerton is hiring and setting its
sights on the NYC office market segment as the company anticipates a need by
its Fortune 100 clients to reconfigure corporate interior spaces as workers
return to offices.

“At Swinerton, we don’t see New York City at the end of its
glory days in construction and real estate growth, and one would just need to
look to Facebook’s 730,000-square-foot lease at Farley Post Office this summer
as proof,” said Pearl.

“As others see a decline in urban centers, in a post-COVID
climate, we are targeting corporate interiors as a sector presenting for change
with many more hard-walled offices as opposed to open spaces. As people return
to the city, the spaces in which they live, work, and learn will need to be
re-configured.”

The employee-owned Swinerton has grown to a $5 billion
national commercial construction company with 20 offices in nine states across
the country. Ranked #18 on the ENR 2020 list of top contractors in the country,
it has been a 100 percent employee-owned company since 1985 and nearly 5000
employees now share in the company’s profits.

Added Pearl, “Being in the New York market has accelerated
the company’s 15-year business plan to expand both geographically and through
sector diversification. For now, we are bullish on office interiors as our
target sector and fulfilling our East Coast expansion plan.”

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