business center building donated to the University of Arkansas Technology Development Foundation | State
FAYETTEVILLE, Arche., January 10, 2022 / PRNewswire-PRWeb / – Developers CRG and IDEA Partnerships, along with designer-builder Clayco, recently donated the Arkansas Research and Technology Park (ARTP) Enterprise Center building to the University of Arkansas Technology Development Foundation (UATDF), which manages the ARTP and its affiliates.
Built by Clayco to facilitate high-level academic research, the two-story building is LEED Silver and contains high-end laboratories, offices and manufacturing facilities. Its laboratory capabilities serve as a commercialization hub for technologies, many of which have been developed in University of Arkansas and include new insulin delivery methods and health monitoring systems; as well as the development of advanced materials such as silicon carbide for energy efficient high power switches.
“Community management is one of the cultural pillars of our business,” said Executive Chairman and Founder of Clayco. Bob clark. “We are honored to be able to make this donation to support innovation and entrepreneurship in Northwest Arkansas. “
“After closing this transaction in 2009, we learned that it was the lowest weekend of the Great Recession. Without the Foundation and guidance from Jim smith (of Smith Hurst, PLC) helping us cut the lumber needed to close the deal, I doubt it would have gone through, ”said Howard smith, a former Clayco executive who handled the fence in 2009.
Thanks to this donation, the UATDF consolidates the ownership of the assets within the ARTP and unifies the real estate management of the rental spaces, allowing the Foundation more fluidity with the strategic affiliates of the park. In addition, the agreement will speed up UATDF’s access to cash flows while consolidating and reducing debt obligations.
“I am delighted to have been able to work with Clayco and IDEA Partnerships to structure this donation so that all parties can benefit,” said David E. Snow, president of the UATDF and acting vice-chancellor for economic development at the University of Arkansas. “We are very grateful for the donation of the Enterprise Center Building. It will bring continued benefits to our expanding innovation ecosystem here at the Arkansas Research and Technology Park. I want to thank Jim smith for his efforts and support in this transaction and the rest of the UATDF Board of Directors, the Chancellor and the Advocate General of the University of Arkansas, and congratulate my predecessor today retired Phil stafford, which laid the foundation for our success today many years ago. “
The Enterprise Center was developed between 2008 and 2009 by CRG and IDEA Partnerships through unique leveraged financing options available for public-private partnerships, including the New Markets Tax Credit program. Recently appraised at a market value of over $ 20,500,000, the Enterprise Center Building was leased by the University of Arkansas. Its unique rental structure has resulted in a permanent lease with expansion opportunities for companies that go beyond the ARTP accelerator facilities.
CRG is a private national real estate development and investment company that has developed over 9,000 acres of land and delivered over 200 million square feet of commercial, industrial, institutional and multi-family assets exceeding 13 billion dollars value. CRG is built on a powerful North American platform with local market expertise and offices in Atlanta, Chicago, Seattle, Southern california, Saint Louis, Philadelphia cream and Phoenix. CRG’s philosophy to grow for the future and anticipate the increased needs of next-generation users has led to the creation of its industrial brand, The Cubes, and its multi-family brand, Chapter. For more information, visit the CRG website at http://www.realcrg.com.
Clayco is a full-service, turnkey real estate development, master planning, architectural, engineering and construction company that safely delivers clients across North America The highest quality solutions on time, on budget and beyond expectations. With $ 3.8 billion in revenue for 2020, Clayco specializes in the “art and science of building”, providing fast and efficient solutions for industrial, commercial, institutional and residential construction projects. For more information, visit http://www.claycorp.com.
Arkansas Research and Technology Park (ARTP) was established in 2003 and began operations
in 2004. Over the past few years, ARTP has shaped a dynamic environment for innovation where academic research translates into innovative products supporting highly skilled and well-paid jobs. Today, the ARTP is recognized as a regional innovation hub where companies benefit from collaboration opportunities that provide access to intellectual capital, cutting-edge research resources and a technologically qualified workforce. At present, the inventory of ARTP facilities totals 285,000 square feet and includes the Engineering Research Center, the High Density Electronics Center, the National Center for Reliable Transmission of Electric Power, the GENESIS Technology Incubator, the Innovation Center and the Business Center. At full capacity, the ARTP is designed to create nearly 750,000 square feet of research and development capacity, housed in multiple buildings providing more than 2,000 highly skilled and well-paying jobs.
Sarah Green, Clayco, +1 314-592-5630, [email protected]