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BUSINESS NEWS BALFOUR BEATTY AWARDED $196 MILLION NORTH BLOCK AT CAPITOL CROSSING CONTRACT Property Group Partners has selected Balfour Beatty to build the North Block phase of its Capitol Crossing development that will span a three- block elevated deck over I-395 in the heart of Washington, D.C. The 2.2 million-square-foot, mixed-use Capitol Crossing development is transforming a seven-acre site into a distinctive cityscape that will reunite the District’s East End and Capitol Hill neighborhoods. An internationally recognized firm, Property Group Partners is a premier developer with active projects in Washington, New York and London. With over 12 years of history working together in the District, Property Group Partners and Balfour Beatty previously partnered to build the third building at Station Place, the 1.6-million-square-foot development connected to Union Station, and the 16-story 1101 New York Avenue Class A office building. Capitol Crossing’s North Block phase includes the construction of two 12-story, mixed-use office buildings that will be connected by a glass connector bridge and total 960,000 square feet. With 70,000 square feet of world class retail space connected by lush garden promenades, Capitol Crossing ultimately will include more than 1,100 parking spaces and 440 bicycle parking spaces. “Property Group Partners has a strong belief in reimagining cityscapes and revitalizing neighborhoods through sustainable building and innovative engineering,” said Leon Blondin, president of Balfour Beatty’s mid-Atlantic division. “We’re honored to be their construction partner in building this truly historic development in the downtown core that will reconnect long- divided Capitol Hill to the East End. Having already managed the preconstruction, utility

relocation and platform construction phases, it’s very gratifying to continue our work to take this project vertical and deliver its first two mixed- use buildings.” Work is scheduled to first begin on the building located at 200 Massachusetts Avenue, which will include 25,000 square feet of ground-level retail and 410,000 square feet of mixed-use space. Construction of the second building at 250 Massachusetts Avenue will follow shortly thereafter. Capitol Crossing will offer Washington’s newest and most energy-efficient office environment with plans to exceed the LEED Certified Platinum criteria, making it the first Eco- District in the nation’s capital. Among its many environmental features will include the innovative use of EcoChimneys made of large plants to filter garage exhaust. The project will also include rooftop green areas and water recapture systems combined with a cogeneration plant to generate electricity and heat at the same time. Balfour Beatty will leverage the latest technologies and lean construction methods to achieve Capitol Crossing’s progressive environmental design. Technologies will include building information modelling software, GPS equipment to locate work elements such as electrical components in pre-cast concrete, and RFID chips in hardhats for workforce tracking and safety. At peak the project will employ a team of 350. The Capitol Crossing development adds to Balfour Beatty’s U.S. portfolio of innovative, sustainable, and modernized commercial office spaces.

1200 North College Ave. Fayetteville, AR 72703 Mark Zweig | Publisher mzweig@zweiggroup.com Richard Massey | Managing Editor rmassey@zweiggroup.com Christina Zweig | Contributing Editor christinaz@zweiggroup.com Sara Parkman | Editor and Designer sparkman@zweiggroup.com Liisa Andreassen | Correspondent landreassen@zweiggroup.com Tel: 800-466-6275 Fax: 800-842-1560 Email: info@zweiggroup.com Online: www.thezweigletter.com Twitter: twitter.com/zweigletter Blog: blog.zweiggroup.com

MARK ZWEIG, from page 1

cost. And I have never been in a company where we didn’t see labor that could/should be cut. 4)Look at ALL of your costs. IT costs can easily spiral out of control as everything is changing so rapidly. You may not need all of those Rackspace servers or software licens- es that you once had to have. And what about special “sweetheart” rent deals to one or a few principals where rent rates paid by the company are 40 percent too high? Or special leasing companies that add costs needlessly and allow one or a few older owners to take more money out of the company without paying taxes on it? These things need to be confronted because you cannot afford to carry any more costs than necessary. 5)Start looking ahead to NEXT year. What is going to happen in 2017 is largely deter- mined by what’s happening now. Do your planning now, before the new year starts, so when the year DOES start you aren’t playing catch-up. Get those plans done early and out to everyone so they can see the path to success and greatness in 2017 and beyond. Don’t assume that everyone is inspired and can see the opportunity like you can. They all may need some help – and the business plan is a big part of that. So 2017 – believe it or not – is nearly here. But it isn’t here yet. We’re still in 2016 and we need to finish the year on a high note. Let’s make this fourth and final quarter one we can all be proud of! MARK ZWEIG is Zweig Group’s founder and CEO. Contact him at mzweig@zweiggroup.com.

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THE ZWEIG LETTER October 3, 2016, ISSUE 1170

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