[ 06.15.2006 ]

PHILADELPHIA, PENNSYLVANIA - Executives from Aegis Property Group, a real estate development and management firm in Philadelphia, were on hand for the recent ribbon-cutting ceremony of the new Presidential Helicopter Integration Facility in Owego, NY. Aegis served as project management consultant during the facility's design and construction on behalf of Lockheed Martin - which will develop the aircraft, named Marine One - in developing the $30 million, 176,000 square foot building.

Robert Rittenhouse, principal and development director for Aegis, joined members of the U.S. Navy and Marine Corps, New York congressional delegation, and state and local elected officials at the ceremony on June 12 to mark the building's completion. "Being involved with the construction of such an important facility that will develop and deliver the next generation Presidential helicopter fleet is a tremendous distinction for Aegis," said Rittenhouse. "We're honored that we were hand picked by Lockheed Martin to join the project team that created this state of the art helicopter integration facility."

Aegis provided development management services for Lockheed Martin that included strategic planning, team formation, construction procurement project scheduling and financial management. As the building now begins its initial occupancy phase, Aegis will provide ongoing consulting support to address financial, scope and scheduling issues that emerge in the close-out of the project.

According to Lockheed Martin representatives, the first operational Marine One will go into service in 2009. Eventually, the facility will deliver 23 helicopters for the Presidential mission. For more information on Marine One, visit www.lockheedmartin.com.

Founded in 1980, Aegis Property Group is a real estate company that provides an integrated mix of transaction and project management services. The firm's proven market expertise and solid technical capabilities address the complex real estate requirements of major corporations and institutions. Aegis has completed more than $2 billion of significant office, industrial, residential and institutional transactions and projects. For more information on Aegis Property Group or any of its services, please visit www.aegispg.com or call 215-568-5050.