Monday, July 17, 2023

The Robotics Factory Finds Home at Tech Forge: Fueling the Future of Robotics Innovation in Pittsburgh, PA

Jennifer (Jenn) Apicella

PITTSBURGH, PA,  July 17, 2023 The Robotics Factory, an initiative dedicated to creating, accelerating, and scaling robotics companies in the Pittsburgh region, has announced their new location at the Tech Forge building in the Lawrenceville neighborhood of Pittsburgh. 

Supported by Innovation Works, the Pittsburgh Robotics Network, and the Southwestern Pennsylvania New Economy Collaborative, the Robotics Factory will serve as a vital collaborative space, bolstering manufacturing capabilities and helping companies expedite commercialization of their products. 

The new location at Tech Forge is situated in the heart of Pittsburgh’s “Robotics Row,” which boasts a high density of robotics organizations in all stages of growth working across various industries. 

Tech Forge building in the Lawrenceville
 neighborhood of Pittsburgh
.

The establishment of this site marks a significant stride in the project, a key element of the $63 million Build Back Better Regional Challenge grant awarded by the U.S. Economic Development Administration (EDA) to the Southwestern Pennsylvania New Economy Collaborative – a coalition of the region’s leading university, philanthropic, and private sector partners. 

The Robotics Factory is composed of three distinct programs, addressing everything from ideation to commercialization. The Create program cultivates an innovative space for entrepreneurs, technology experts, researchers, and industry professionals to address industry challenges through workshops. 

The Accelerate program propels up to six pre-seed robotics startups with funding, mentorship, and resources through a seven-month intensive program. 

The Scale program provides industry-leading expertise in product prototyping and services, supporting companies in developing production-ready products by utilizing the resources of the Robotics Factory. 

 The first batch of six companies chosen for the Accelerate program will relocate to the Robotics Row location as soon as feasible. 


This new location will provide in-house design for manufacturing, supply chain management, prototyping support, and access to the region's comprehensive manufacturing resources. 


By empowering companies to incorporate manufacturing considerations in the initial design stages, the Robotics Factory will expedite the deployment of autonomous technologies and enable companies to attain scalability. 


 Ven Raju

“We conducted a thorough site identification and selection process, evaluating sites on the basis of a range of parameters,” said Ven Raju, President & CEO of Innovation Works. 


“The Lawrenceville site best aligns with the overarching strategic goals of the Build Back Better regional challenge grant while meeting functional, operational and budgetary requirements.” 

 

Jenn Apicella, Interim Executive Director of the Pittsburgh Robotics Network, expanded upon these sentiments, stating, "The Robotics Factory's arrival at Tech Forge is a pivotal development in our region's ability to support, accelerate, and scale robotics companies. 


"The Robotics Factory will serve as the epicenter for innovation and commercial business growth for companies and startups developing autonomous and robotic solutions. 


"Its strategic location will foster unparalleled collaboration opportunities, leading to new and impactful commercialized industry use and adoption. This move further solidifies our robotics ecosystem's impact on a global scale, while driving economic growth and job creation right here, anchored in the Pittsburgh region." 



The regional EDA grant positions southwestern Pennsylvania to seize a golden opportunity to
 
advance the regional robotics and autonomy cluster, a sector where Pittsburgh's leadership and expertise command global recognition.

 This grant funds five regional projects, including the Robotics Factory. These initiatives aim to transform individuals, businesses, and communities across southwestern Pennsylvania by offering sustained opportunities in this booming sector. 

 

“Pittsburgh’s transformation from an industrial powerhouse to a 21st century technology hub is a 

testament to the region’s incredible talent, world renowned research institutions, and a robust entrepreneurial ecosystem,” Ven Raju said. 


“Over the course of the last four decades, the 

region’s robotics cluster has been at the forefront of this transformation. 


Stefani Pashman

"The Robotics Factory in its new home will serve as a centrally located community resource to support robotics companies from inception to scale, catalyzing job growth and energizing the regional economy." 

 

The focus is on fostering inclusivity, targeting those previously overlooked for employment, wealth creation, and innovation opportunities in robotics and autonomy. 

 

The dedicated home for the Robotics Factory fortifies the region’s robotics cluster and reinforces Pittsburgh’s position as a global leader in robotics innovation.


 Stefani Pashman, CEO of the Allegheny Conference on Community Development and co-chair of the Southwestern Pennsylvania New Economy Collaborative, said “Pittsburgh has one of the most dynamic and regarded robotics clusters in the world. 


"Through deliberate and investments – like the Robotics Factory, the region’s first robotics accelerator made possible by our Build Back Better regional challenge grant, we are further bolstering this ecosystem – ensuring that the opportunity it presents can be accessed by people, places and companies of all stages and sizes across our region. 


Ben Pratt

“In less than a year since receiving this historic funding award, we’re making an impact. With its first cohort recently launched, the Robotics Factory has come to life. If you want to shape the future with robotics and autonomy, you need to be in Pittsburgh.” 

 

Ben Pratt, regional economic competitiveness officer at the Allegheny Conference, said “The Robotics Factory will be a vital and unique anchor asset – a physical hub where community is created and innovation is ignited. 


"It will be invaluable for the ongoing nurturing of the next generation of robotics companies. The Robotics Factory is a first-of-its-kind robotics initiative in how it brings support for acceleration, creation and scaling together under one roof. 



"It sends a strong signal that the Pittsburgh region is a perfect launchpad, as well as a place where companies can scale and grow.” 


CONTACT:

Alexa Cangialosi 


alexa@violetpr.com


 

JLL arranges 145 million refinancing for four newly developed hotels near Walt Disney World Resort in Orlando, FL

 

 ORLANDO, FL, July 17, 2023 –  JLL announced it arranged a $145 million loan to refinance a 997-key portfolio of four newly developed, Marriott- and Hilton-branded select-service hotels located at Flamingo Crossings Town Center, located at the western gateway to the Walt Disney World Resort in Orlando, FL

 

JLL represented the borrower, Doradus Partners, and its affiliated management company Yedla Hotels, to secure the floating rate loan through Aareal Capital Corporation. 

Flamingo Crossings Town Center, Orlando, FL

The four-property portfolio is comprised of the following hotels in Winter Garden, Florida:

·         The 223-key Residence Inn by Marriott located at 2111 Flagler Ave.

·         The 273-key Fairfield Inn & Suites by Marriott located at 631 Flagler Ave.

·         The 272-key Home2 Suites by Hilton located at 341 Flagler Ave.

·         The 229-key Homewood Suites by Hilton located at 411 Flagler Ave.

The four Marriott- and Hilton-branded hotels were recently opened between January 2021 and January 2022 and boast an exceptional location immediately outside the western gate to the Walt Disney World Resort, providing guests with convenient access to the theme park.

Gregg Shapiro
The hotels sit adjacent to one another in the newly developed Flamingo Crossings Town Center, a mixed-use commercial district master planned by Walt Disney World.

This premier location provides the hotels with compelling competitive advantages, relative to other hotels in the Orlando lodging market. Orlando has historically had one of the most robust tourism markets in the United States boasting a tourism economy that would bring in $75 billion on average every year.

The JLL team was led by Senior Managing Director Gregg Shapiro and Senior Vice President Barnett Wu.

JLL’s Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totalling $83 billion worldwide.

 

 The group’s 370-strong global team in over 20 countries also closed more than 7,350 advisory, valuation and asset management assignments.


Barnett Wu.
Our hotel valuation, brokerage, asset management and consultancy services have helped more hotel investors, owners and operators achieve high returns on their assets than any other real estate advisor in the world.

 

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization.

 

The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources, please visit JLL’s newsroom.

 

 

Contacts:

 

Alli Semans

Public Relations, Associate

Phone: +1 330 329 6750

Email: Alli.Semans@jll.com

 

www.doraduspartners.com.

jll.com.

  

BLT Enterprises secures 10-year lease with Cintas on Pico Rivera, CA industrial outdoor storage site adjacent to existing Cintas facility

Lukas Huberman
 PICO RIVERA, CA  BLT Enterprises, a multi-faceted real estate investment company with a track record of success, leased its recently acquired 37,026 square foot industrial outdoor storage property in Pico Rivera, California, a sub-market of Los Angeles, which includes a 10,200 square foot warehouse.

“This new lease highlights BLT’s ability to quickly execute our business strategy following a unique buying opportunity,” says Lukas Huberman, Vice President and Director of Acquisitions.


“Outdoor storage in the Los Angeles County industrial corridor is a premium amenity. The site’s 28% coverage made it highly desirable for fleet vehicle storage, as well as additional warehouse space for the incoming tenant.”

BLT secured a 10-year lease with Cintas Uniform Rental, which also operates out of a directly adjacent commercial property on Paramount Boulevard. Cintas was especially interested in the site given the ample storage space for its delivery vehicle fleet.


 A 10,200 square foot warehouse.leased at
7748 Industry Avenue, Pico Rivera, CA

Prior to tenant occupancy, BLT implemented value-add improvements to the property with a new roof, updated HVAC system, new asphalt on the entire lot, and repainted the building interior and exterior.

The building includes over 8,000 square feet of warehouse space and 2,000 square feet of office space. The warehouse has two loading docks, as well as one drive in entrance and a 15-foot ceiling height. The site is fully fenced and secured with a gated entrance.


7748 Industry Avenue is a prime example of BLT’s investment strategy of acquiring well located assets that meet the escalating transportation and logistics demands throughout Southern California, notes Rob Solomon, President and Chief Legal Officer at BLT Enterprises.

Rob Solomon

“Since acquiring the property in September of 2022, we quickly executed our business plan to improve the asset and closed on the new lease despite increasing current market challenges,” continues Solomon.

“We understand the value of properties like 7748 Industry. The combination of warehouse, office, and extra yard space made this site highly desirable. Drawing on our deep-rooted knowledge of the Los Angeles market, we were able to negotiate a mutually beneficial agreement with the tenant and secure a long-term business relationship.”

BLT Enterprises was represented in the leasing transaction by Alexander Harroldand Brendan Phinney of Matthews Real Estate Investment Services.

 

Contacts:

 

Hanna Kokuashvili/Elisabeth Manville

The Smart Agency, Inc.

(949) 438-6262

hkokuashvili@thesmartagency.com