The latest news & press from Hankin Group.

Philadelphia Business Journal article

Looking out at a parking lot, an apartment building under construction and Johnsontown Park just beyond Brandywine Creek in Downingtown, Neal Fisher saw a burgeoning community he believed could be transformative for the Chester County borough.

While standing inside one of three apartment buildings that are part of the $80 million first phase of Hankin Group’s River Station project, the vice president of development shared why.

“It’s focused on community,” Fisher said during a recent tour of the site. “That’s the type of development we like to build. It’s less focused on vehicles and more focused on people.”

The first phase of River Station is nearing completion and residents could move in as soon as late January or early February. The opening marks a new beginning for the once-maligned property.

Situated on the site of the former Sonoco Products Co. paperboard mill, which sat empty for years, the project is just west of the Boot Road and Brandywine Avenue intersection, near the Downingtown train station and next to trails that traverse the adjacent woods. Hankin Group believes the project has what it takes not only to be successful, but to impact the entire borough of about 8,000 people.

While a train station is already within walking distance via a pedestrian bridge connecting the development to Johnsontown Park, the Pennsylvania Department of Transportation plans to move it even closer on Brandywine Avenue.

Fisher called the project a “true transit-oriented development.”

Once complete, the three buildings comprising the first phase will have 203 total apartments with 9,300 square feet of retail space. The first building has 64 apartments and 5,100 square feet of retail, while the second has 72 apartments and 4,200 square feet of retail. The third building has 67 apartments.

Of those apartments, 91 will be one-bedroom units with a starting price of $1,920 per month; 107 will be two-bedroom units starting at $2,475 per month; and there will be just five three-bedroom apartments starting at $3,500 per month.

The next phase of River Station is planned to consist of 60 apartments and 5,000 square feet of retail on the east side of Brandywine Avenue. Timing of construction will be based on market conditions.

An additional phase, on the site of a current parking lot next to the first three apartment buildings on the west side of Brandywine Avenue, will consist of a fourth apartment building with 154 units.

In the middle of the buildings is a boulevard that will eventually have pedestrian-friendly space and trees. Fisher said Hankin Group plans to make such space accessible for public events by closing the street to cars. The the goal is to make it an amenity for all of Downingtown, not just the residents who live in the new buildings.

“We want outdoor space as beautiful as indoor space,” Fisher said.

This isn’t Hankin Group’s first foray at such a community. In nearby Exton, the firm developed Eagleview, an 800-acre mixed-use community with more than 1,200 residences, 2.8 million square feet of office space, and 50,000 square feet of retail.

Hankin Group, a Chester County real estate development company dedicated to quality and sustainability, announced that their newest apartment building at Claremont on the Square has been awarded LEED Gold.

LEED (Leadership in Energy and Environmental Design), developed by the U.S. Green Building Council (USGBC), is the most widely used green building rating system in the world and an international symbol of excellence. Claremont on the Square, a luxury apartment community located within Hankin Group’s Eagleview Town Center, consists of 3 buildings. The first two buildings were constructed in 2014 and the final third building, built in 2021, opened its doors to residents in April of this year.

The Claremont on the Square community, managed by Hankin Apartments, consists of 116 luxury apartment units and a lavish outdoor courtyard, added with the new building, featuring outdoor seating, fire-pit, games, outdoor television, grilling stations, and more. The third building attaining its LEED Gold Certification is an advancement from the previous two buildings who were both awarded LEED Silver Certification in 2015.

Peter Templeton, president, and CEO of USGBC commented on Hankin Group’s commitment to sustainability. Receiving this certification speaks to Hankin Group’s dedication to leveraging solutions with environmental benefits that can be passed down from generation to generation.

“Achieving LEED certification is more than just implementing sustainable practices. It represents a commitment to making the world a better place and influencing others to do better,” said Templeton. “Given the extraordinary importance of climate protection and the central role buildings play in that effort, Hankin Group is creating a path forward through their LEED certification.”

Lance Hillegas, VP of Sustainable Development and Design, and Laura Maiale, Development and Sustainability Manager, played key roles in the LEED Gold certification of Claremont on the Square’s new building. It is evident that Hankin Group has sustainability at the forefront of all they do and that both the world and their residents benefit from these practices. LEED-certified buildings like Claremont on the Square are making the world a better place and setting a standard for others to aspire to.

“Sustainable development is a core value at Hankin Group. We take pride in constructing residences that are energy and water efficient, thermally comfortable, and constructed with environmentally friendly and locally sourced materials,” said Maiale. “Residents can see and feel the benefits of living in a LEED Gold residence. The Claremont on the Square project is no exception, and we are happy to add another green building to the Eagleview community. We appreciate that this certification recognizes Hankin Group’s dedication to both quality and sustainability.”

To learn more about Claremont on the Square, visit claremontonthesquare.com.

Learn more about Hankin Group.

Philadelphia Business Journal article

Swiss and Chinese companies have signed long-term leases to occupy a 110,000-square-foot lab and flex space building under construction in Exton’s Eagleview development.

Früh Verpackungstechnik AG, a medical packaging company based in Fehraltorf, Switzerland, will lease 63,500 square feet in the new building. China’s Frontage Laboratories, which already leases space in Eagleview, signed to lease another 46,500 square feet in the same future building. Frontage provides product development services to companies developing drugs.

Hankin Group, Eagleview’s developer, said the total cost of the building is $40 million. The companies declined to share terms of the two leases. The building is at 240 Sierra Drive.

Früh plans to employ “a few hundred” people at its the site with most being newly created jobs, Chief Sales and Marketing Officer Thomas Good said from Switzerland in a phone interview.

“We are following the customers’ voice,” Good said. “We already do business in significant numbers with the American market. Customers have asked why not provide the service for medical devices in the U.S.?”

Früh, which has locations in Switzerland and China, considered an American expansion before the Covid-19 pandemic. The company’s search slowed temporarily before choosing between locations in Illinois, Massachusetts and Pennsylvania.

Früh’s analysis found Massachusetts offered the highest educated workforce but also the most expensive. Among the three, salaries were lowest in Illinois but Good said that came with disadvantages. The Philadelphia area offered the most complete package, he said.

Upon arriving to the Eagleview site and exiting the car, “My first impression was, ‘We have found it,’” Good said.

Hankin Group aims to have the first phase of the new building ready for Früh in the fall of 2023, COO Michael Hankin said. Receiving required certifications could take a few months, Good said, so the site would then be operational by the end of 2023 or early 2024.

Good cited similarities in lifestyle between Zurich and the Philadelphia area and similarities between Früh and Hankin Group, both family-owned companies. That helped establish trust as Früh chose where to expand.

“This is a very, very exciting journey we have in front of us,” Good said. “We believe very strongly in the U.S. market.”

Frontage’s phase of the building is planned to be completed in the second quarter of 2024. Frontage already leases 80,000 square feet from Hankin and has been a tenant since 2010. It plans to hire 90 employees to support the expansion.

The two international companies signing on represents the continued boom in life sciences in the Philadelphia region.

“Eagleview, in particular, for the suburbs, continues to be incredibly strong and very sought after,” Hankin said. “I think the reason why is because Eagleview, unlike some other corporate parks, provides a truly mixed-use experience for the employees.”

Eagleview has 1.3 million square feet of research and development space. Hankin Group owns and manages about 750,000 square feet of that, which has an occupancy rate of 99% as of the 240 Sierra Drive lease signings, according to the company. Retail space and apartments are each 95% full and office space is 85%.

Hankin’s Commercial Leasing Manager Sam Sherrill said the company has about a million more square feet that could be developed for commercial space.

“We are able to shift pretty quickly to where the market’s pointing to and right now it seems to be pointing more toward life sciences than other things like office,” Sherrill said. “So that’s what we’re going to be trying to accomplish.”