Pitcairn Properties of Jenkintown, Pa., is planning to build three office facilities totalling 600,000 sf to 750,000 sf adjacent to Wal-Mart's headquarters in Benton, Ark. Partnering with real estate investor and developer FBE Ltd. of New York, Pitcairn will build the $80- to $100-million project in phases. Wal-Mart's suppliers are expected to lease the offices, which Wal-Mart has requested be connected with its headquarters via fiber-optic cabling and an elevated walkway. Pitcairn, having won approval to develop up to 1 million-sf, expects to begin construction on the first 220,000-sf phase next summer.
Pitcairn also plans to develop the 2.3 million-sf SkyMark Corporate Center in Bergen County, N.J. on a former brownfield site that the firm helped to clean up. Construction is slated to begin in the next one to two years on the phased project.
