The Punch Report
Bristol & Birch, Newport Beach
Chosen by the Starbucks Corporation, Servco Builders is pleased to deliver Newport Beach’s latest coffee destination. Please stop by for a coffee at Bristol and Birch and enjoy the new modern design concept with bright and clean finishes complete with large dining area, outdoor seating and drive-through convenience.
Los Angeles, CA
Servco recently built a complex, state-of-the-art aerospace manufacturing facility for PPG Industries in Los Angeles. Partnering with PPG on design/construction, Servco’s project staff answered the need for an expedited timeline in order to produce critically needed aerospace components for the US military. The build included aerospace manufacturing facilities such as clean rooms, bridge cranes, casting ovens, CNC machines, water jest and autoclave equipment.
A Note From The President
Is relief in sight for construction material price increases? As we head into a weakened economy due to interest rate hikes, housing and private sector construction starts are down but the government keeps spending on infrastructure projects.
January 2023 vs. January 2022 (YoY)
- Total construction down 14%
- Residential starts down 34%
- Non-residential starts down 2%
- Non-building starts (roads & infrastructure) up 10%
Last week I attended a construction conference and gained great insight into what companies are seeing across the country. Most civil and general contractors have noticed a decline or delay in multi-family and commercial construction projects but many of these contractors have large backlogs they are working through. Contractors focused on government projects are seeing great opportunities and remain optimistic for 2023. Labor shortages and material prices continue to erode contractor margins but to a lesser extent than last year.
Fashion Island (Newport Beach)
2ND & PCH (Long Beach)
Studio City (Los Angeles)
Servco recently partnered with Brixton, an emerging clothing brand, and Starch Creative to complete the build out of new brick and mortar stores at three premier Southern California retail locations.
Check out what this unique local brand has to offer: Brixton
Flight at Tustin, CA
Servco was selected by the Lincoln Property Company and National Auto Loan Network (NALN) to build a revolutionary first-generation office space for NALN, elevating their corporate image with cutting edge creative office space at the new Flight office campus in Tustin.
A Note From The President
We are excited to share these projects with you. Servco takes great pride in building our Client’s vision. It is a blessing for us to be a part of their story.
Market trends: Lumber is back to pre-pandemic pricing! However other materials such as drywall, insulation and acoustical ceilings continue to show recent price increases. Overall construction pricing has leveled off and stabilized from the massive price hikes of the past few years.
Wishing you a prosperous 2023!
If you have a need for quality commercial construction at great value please send bid requests to:
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