Inside corporate interiors.
The number of holiday celebrations in December 2005 far exceeded the past few years, and it's a clear indication that economic prosperity and a feeling of optimism is prevalent for 2006.
The state of the construction industry is a good indicator of the health of other sectors, and ACC has been busy across the boards. There is no question that last year was a good one for many businesses, which are planning upgraded or expanded offices as their first priority in the New Year.
Traditionally, law offices were the predominant category of corporate interior jobs. The fact that we are now performing work for nearly every sector indicates wide-range growth. ACC's interior work schedule continues to grow, as companies in virtually every sector are taking additional space, expanding into new offices, or renovating their existing spaces to high-end specifications.
ACC Construction's recent corporate interior projects include work for companies as diverse as entertainment, finance, law, hedge funds and advertising. We constructed the headquarters for World Wrestling Entertainment (WWE) in the revitalized Paramount Theater at 1501 Broadway just a few years ago, and we have recently been awarded the construction of their new office space in midtown.
Our teams also performed the high-end interior construction for the law firm of Pachulski, Stang, Zeigh, Young, Jones & Weintraub, and we are completing the 80,000 s/f, renovation of a prestigious law firm in the Chrysler Building.
ACC also constructed the Retail Executive Offices and the Personal Shopping Areas for a luxury retailer on Fifth Avenue, and is presently constructing pre-built suites for the industry's top real estate companies as well as interior build-outs for several advertising firms and hedge funds.
The resurgence of corporate interiors signals more than just short-term prosperity. Many of our projects involve constructing new offices for clients who in a short period of time are in need of additional space. The work signals long-term growth, whether through renovating existing space to accommodate additional personnel, upgrading existing spaces with high-end finishes, or the full build-out of newly leased space. Companies are gearing up for additional employees, larger client bases and sustained success.
Given the current climate of optimism and with spring only a couple of months away, even more positive energy will be pumped into an already sizzling market. As we have just recovered from our record-breaking holiday event schedules, it's just about time to gear up for golf season and all of the wonderful industry events 2006 has to offer.
BY MICHELE MEDAGLIA, PRESIDENT, ACC CONSTRUCTION
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|Title Annotation:||Pachulski, Stang, Zeigh, Young, Jones and Weintraub|
|Publication:||Real Estate Weekly|
|Date:||Feb 1, 2006|
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