Daktronics to Light Up East Market in Philadelphia with Curved Displays
BROOKINGS, S.D. – Aug. 29, 2016 – In an effort to create an engaging digital experience in downtown Philadelphia, National Real Estate Development has engaged U.S.-based manufacturer Daktronics (NASDAQ-DAKT) of Brookings, South Dakota, to produce four curved LED video displays to don the corners of two adjacent buildings on the 1100 block of Market Street.
East Market, Philadelphia's mixed-use project currently in development between 11th and 12th, Market and Chestnut Streets, will bring branding and advertising messages to the area in early 2017 when it installs the four Daktronics displays over 5,000 square feet with more than 4.6 million LEDs.
"East Market will serve as a major connector in the city. Located adjacent to the vibrant neighborhoods south of Market Street, the Convention Center and transportation links to the north, East Market will be both a destination and home for people in Philadelphia," said Charles Norman, development manager at National Real Estate Development. "This block of Market Street is already among the busiest in the city and East Market will make it a lively hub for shopping, dining, living and working. Daktronics' state-of-the-art technology will allow us to reach this around-the-clock market with advertising and public service content."
"We are dedicated to providing our customers with communication solutions that create unique experiences people desire in any setting, from sidewalks to cityscapes," said Jim Vasgaard, Daktronics national sales manager. "For nearly 50 years we've been researching and testing our technology right here in the United States, developing the high-quality products we're known for. I'm confident this installation will be a testament to our product design and reliability while delivering an exciting video solution for East Market."
Daktronics invests 4% of annual earnings – roughly $25 million – to research and development, and tests products past the point of failure in a reliability lab located at Daktronics headquarters in Brookings, South Dakota. All this is done to ensure the manufacture of LED video and messaging display technology which offers a long lifetime with consistent, industry-leading performance and low power consumption, to provide value and excitement for years to come.
About East Market
East Market, a pedestrian-oriented development in the heart of Philadelphia, will revitalize an entire city block, from Market to Chestnut, 11th to 12thStreets. This mixed-used project will blend urban and artisanal shopping and dining experiences with contemporary work and living spaces. The project is owned by National Real Estate Advisors, LLC, an SEC-registered asset management advisor investing in major U.S. urban markets and subsidiary of the National Electrical Benefit Fund; Joss Realty Partners, a New York-based private real estate investment firm; Young Capital LLC, a Philadelphia-based real estate investment firm affiliated with Classic Management, Inc.; and SSH Real Estate, one of the largest privately held commercial real estate companies in the Greater Philadelphia Region. East Market is being developed by National Real Estate Development, LLC. For more information, please visit www.eastmarketphilly.com or email at firstname.lastname@example.org.