Covington Capital Purchases and Repositions Existing Manufacturing Facility.INDIANAPOLIS -- Covington Capital Corporation, a real estate development and investment company, announces the purchase and redevelopment of the former RCA/Phillips Electronics manufacturing This article presents a typical manufacturing process of an electronic assembly. Component manufacturing Components such as resistors, capacitors and integrated circuits are generally made by specialized contractors. facility at 7900 Rockville Road in Indianapolis. Acquired by Covington from GMAC GMAC General Motors Acceptance Corporation GMAC Graduate Management Admission Council GMAC Give Me A Call GMAC Genetic Manipulation Advisory Committee GMAC Genetic Modification Advisory Committee (Singapore) GMAC Give Me A Chance , the former manufacturing facility (now called the Rockville Business Center) is an existing 650,000+SF, building that was over 78% vacant at the time of acquisition. Covington has developed a program of improvements valued at almost $4.0 million that will cure the functional obsolescence ob·so·les·cent adj. 1. Being in the process of passing out of use or usefulness; becoming obsolete. 2. Biology Gradually disappearing; imperfectly or only slightly developed. of the structure and convert this once former single tenant building into a modern multi-tenant facility. Completion of all improvements and full lease-up of the Rockville Business Center is anticipated prior to the close of 2006. Covington Capital is re-entering the Indianapolis market place after developing the 200 acre AirWest Business Park (Plainfield, IN) in 1994. Based in California and Ohio, Covington Capital is an entrepreneurial en·tre·pre·neur n. A person who organizes, operates, and assumes the risk for a business venture. [French, from Old French, from entreprendre, to undertake; see enterprise. real estate firm that has developed and invested in industrial, commercial and redevelopment projects, as well as raw land, throughout the US since 1981. Covington specializes in projects that require extensive public sector interface or partnership, as well as those needing creative financing Creative Financing is a term used widely amongst real estate investors to refer to non-traditional means of real estate financing, or financing techniques not commonly used. solutions. For more information visit www.covingtoncapital.com. |
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