AECOM's Tishman Gets New Contract - Analyst Blog
AECOM Technology Corporation 's ( ACM ) construction services unit, Tishman Construction Group, recently received a contract from Tucker Development Corporation. The scope of the contract requires Tishman to serve as a general contractor for the first phase of construction of Tucker's Hudson Lights project. The financial details of the contract were not disclosed.
Based in Fort Lee, NJ, Hudson Lights project is a mixed-use development on the western portion of a 15-acre redevelopment area. This $218 million project comprises 517,000 square feet, and includes the construction of 143,000 square feet of restaurants, retail and entertainment uses, 276 residential apartment units, with parking fitting in 864 spaces. The first phase of this project, for which Tishman will serve as the general contract, is expected to complete by 2015 summer.
Given the strategic location, the Hudson Lights project is expected to become an important commercial and residential hub. Fort Lee connects with the Upper Manhattan through the George Washington Bridge, which is the world's busiest motor vehicle bridge as the Upper Manhattan is the world's biggest commercial hub.
AECOM's Tishman Construction Group is one of the leading builders across the U.S. having some prestigious contracts in its pocket. It is one of the leading contractors for the Pentagon renovation. In addition, AECOM will also be providing pre-planning, programming, design management, design review, procurement support, construction management, commissioning and post-construction support for the DHS Campus Construction Management Program.
Based in Los Angeles, CA, AECOM is a global provider of professional technical and management support services to a broad range of markets, including transportation, facilities, environmental and energy.
AECOM currently has a Zacks Rank #3 (Hold). Other stocks in the industry worth buying at the moment are Pernix Group Inc . ( PRXG ), Foster Wheeler AG ( FWLT ) and Michael Baker Corp. ( BKR ). Michael Baker Corporation has a Zacks Rank #1 (Strong Buy), while Pernix Group and Foster Wheeler carry a Zacks Rank #2 (Buy).
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