Skanska builds new office building in Cincinnati, Ohio, USA, for USD 164M, about SEK 1.7 billion

Rhea-AI Summary

Skanska (SKBSY) has secured a USD 164 million (SEK 1.7 billion) contract with Medpace to construct a new office building in Cincinnati, Ohio. The project, set to be included in Q3 2024 US order bookings, involves building a 52,200 square meter (562,000-SF) structure. The nine-story building will feature a six-story office tower atop a three-floor parking garage and conference center, located on Medpace's existing campus where Skanska has previously completed several projects. Construction began in February 2024 and is expected to be completed by March 2027. This development marks another significant project for Skanska in the US commercial real estate sector.

Positive

• Secured a large contract worth USD 164 million, boosting order bookings
• Expanding presence in Cincinnati with a major construction project
• Building on existing relationship with Medpace, having completed previous projects on their campus
• Project spans over three years, providing steady work and revenue stream until 2027

Negative

• None.

STOCKHOLM, Aug. 15, 2024 /PRNewswire/ -- Skanska has signed a contract with Medpace, a clinical research company, for the construction of a new office building in Cincinnati, Ohio, USA. The contract is worth USD 164M, about SEK 1.7 billion, which will be included in the US order bookings for the third quarter 2024.

The project involves constructing a new 52,200 square meter (562,000-SF), nine-story building featuring a six-story office tower atop a three-floor parking garage and conference center. The office building will be built on the existing Medpace campus, where Skanska has successfully completed several projects.

Preparatory work began in February 2024 and the project is expected to reach completion in March 2027.

For further information please contact:

Peggy Cook, Communications Manager, Skanska USA, tel +1 (513) 222 5310

Andreas Joons, Press Officer, Skanska Group, tel +46 (0)10 449 04 94

Direct line for media, tel +46 (0)10 448 88 99

This and previous releases can also be found at www.skanska.com.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/skanska/r/skanska-builds-new-office-building-in-cincinnati--ohio--usa--for-usd-164m--about-sek-1-7-billion,c4024555

The following files are available for download:

https://mb.cision.com/Main/95/4024555/2945639.pdf	20240815 US office building
https://news.cision.com/skanska/i/image-1---medpace-300,c3324603	Image 1 - Medpace 300
https://news.cision.com/skanska/i/image-2---medpace300,c3324602	Image 2 - Medpace300

 

 

 

View original content:https://www.prnewswire.com/news-releases/skanska-builds-new-office-building-in-cincinnati-ohio-usa-for-usd-164m-about-sek-1-7-billion-302223241.html

SOURCE Skanska

FAQ

What is the value of Skanska's new contract in Cincinnati, Ohio?

Skanska (SKBSY) has signed a contract worth USD 164 million (about SEK 1.7 billion) for the construction of a new office building in Cincinnati, Ohio.

When is the expected completion date for Skanska's new office building project in Cincinnati?

The new office building project in Cincinnati is expected to reach completion in March 2027.

What are the key features of the new Skanska office building in Cincinnati?

The new Skanska office building in Cincinnati will be a 52,200 square meter (562,000-SF), nine-story structure featuring a six-story office tower atop a three-floor parking garage and conference center.

When will Skanska (SKBSY) include the Cincinnati project in its order bookings?

Skanska will include the USD 164 million Cincinnati project in its US order bookings for the third quarter of 2024.