By Jim Parsons, Engineering News-Record - An industry-wide sellers’ market helped fuel record-setting merger-and-acquisition activity among engineering and construction firms in 2018, enabling buyers to better adapt to multiple trends reshaping the industry.
According to a recently released trends survey by FMI Capital Advisors Inc., the 534 industry transactions announced last year surpassed the previous record, set in 2015, by nearly 22%. The timing was right for such torrid activity, explains FMI Managing Director Alex Miller, particularly given the large “demographic backlog” of willing sellers.
“Many baby boomer owners who put off retirement because of the recession saw the current strong market as a good time to exit,” Miller explains.
Buyers were likewise plentiful, with heightened demand for technical expertise joining growth and service expansion as primary acquisition drivers, the survey found. “If you’re not growing, you struggle to create opportunities for people and retain talent,” says Dan Pleasant, COO of Fairfax, Va.-based Dewberry, which has made multiple acquisitions of regional engineering firms in recent years, including last year’s purchase of J3 Engineering Consultants Inc., Greenwood Village, Colo.
Pleasant says that while a primarily organic strategy tends to be easier for smaller companies, there comes a point where sustaining that pace requires a firm to look outward. Dewberry applies both approaches, he says, with approximately 40% of its recent growth coming via “strategic” acquisitions aimed at a particular region, market sector or service line.
Read the full story online at enr.com.
Canh Tran, program manager for Seaport San Diego, shares his inspiring life story, reflecting on his family's decision to flee Vietnam for the U.S. as he speaks on the importance of Asian Pacific American Heritage Month.
By Jennifer Van Grove, The San Diego Union-Tribune - Don’t forget about Seaport Village. That’s the message the Port of San Diego, which owns the 14-acre site, hopes to convey to the public through millions in right-here, right-now upgrades to the dated, waterfront retail center.
Tuesday, the Board of Port Commissioners voted unanimously to spend more than $2 million on overdue site work, improvements to the village’s open spaces and a variety of entertainment features. The immediate allowances come as developer 1HWY1 works through the specifics of a $2-billion overhaul of Seaport Village and adjacent properties that will take at least five years to come to fruition.
Port of San Diego authorizes major investment in Seaport Village ahead of ongoing transformation effort
For Immediate Release - The Port of San Diego plans to invest $2.2 million in improvements and upgrades to enhance the existing Seaport Village experience, following Tuesday’s unanimous vote by Port Commissioners. The funds will support site enhancements, deferred maintenance and new experiential features at the 39-year-old retail center.
“This is exactly the kind of ‘Renaissance on the Bay’ I’d like to see,” Port Chairman Garry Bonelli said at the Tuesday hearing. “Thanks to the collaboration between Port staff and the Seaport San Diego team, our visitors and tenants at Seaport Village will be engaged as we reimagine the Central Embarcadero.”
By: Jonathan Horn, 10 News San Diego
San Diego (KGTV) -- The Port of San Diego may spend roughly $2.3 million to try to break the perception that Seaport Village is shutting down.
The aging, quaint waterfront center currently has 18 shuttered stores, mainly on its less visited east side. The mall is known for its souvenir and specialty shops, but has seen declining foot traffic in recent years.
Seaport Village is in store for a major redevelopment that could include a spire, hotels and an aquarium. The project, however, is five to seven years away.
Read full story online at 10news.com.
By: Amanda Brandeis, 10 News San Diego
SAN DIEGO (KGTV) - While still a few years away from breaking ground, San Diego's Central Embarcadero will be getting a major facelift.
On Tuesday Protea Waterfront Development updated the Port of San Diego on their most recent proposed changes :
Read the full story online at 10news.com.
By Paul Krueger, 7 San Diego
Seaport Village would be razed, rebuilt and expanded, if Port Commissioners approve
A stunning makeover is in the works for San Diego's downtown waterfront.
The proposed $1.6 billion project would replace Seaport Village, a popular but aging collection of bayfront shops and restaurants along Harbor Drive.
Developer Yehudi Gaffen and his partners proposed a complete teardown and rebuild of Seaport Village.
It would also have a vast extension of the existing property to encompass 70 acres of land and water. This would span from north of the Midway Museum down to the area around Embarcadero Park.
Read the full story online at nbcsandiego.com.
NBC 7 San Diego - Seaport Village may see a $1 billion redevelopment plan in its future. NBC 7's Monica Dean has more on what this could mean.
Watch the video online at nbcsandiego.com.
By Jennifer Van Grove, The San Diego Union-Tribune
San Diegans would be forgiven, perhaps even applauded, for avoiding Seaport Village. Aside from the view, the 38 year-old waterfront property’s best pitch to consumers involves chain restaurants and trinket shops, seemingly only securing the approbation of cruise ship patrons and out-of-towners.
However, a grandiose plan to turn the prime real estate into a world-class destination lauded by locals and foreigners alike is currently underway. Called Seaport San Diego, the $1.6 billion project, backed in part by San Diego’s famed Jacobs family, was selected by the Port of San Diego in November 2016 to redevelop 70 acres — 39 land acres and 31 water acres — and is still in the beginning stages.
Read the full story online at sandiegouniontribune.com.
By Brad Racino, inewssource
After years of negotiations, San Diego’s fishermen and a local developer have signed an agreement to recapture a lost piece of the city’s history – a thriving commercial fishing trade that once employed thousands of people while netting hundreds of millions of dollars.
Much of the agreement focuses on five acres called Tuna Harbor, and the role it will play within Seaport San Diego, the billion-dollar waterfront development expected to break ground in 2022.
Read the full story online at inewsource.org.