Industry News

The former Environmental Protection Agency headquarters in Research Triangle Park, known as "The Fortress", is being redesigned as the Triangle Life Science Center. The facility, sited on 16 acres, was purchased by Triangle Life Science for $13.15-million in May 2002. Project architect O'Brien/Atkins Associates plans to adapt the facility to accommodate eight to ten tenants; occupancy is expected for late 2003 or early 2004.

Kennedy Health System opened its new 26,000-sf Kennedy Memorial Hospital emergency department in Turnersville, N.J., on February 27, 2003. Housed in a new three-story, 90,000-sf facility, the $23-million emergency department nearly quadruples the size of the previous department. Featuring 29 treatment rooms, the facility has two centers of patient treatment: one for trauma and acute care and another for less acute conditions.

Intel Corp. will invest $2 billion to convert its Chandler, Ariz., manufacturing plant to the production of 300-millimeter silicon wafers. The conversion project is slated to begin in 2004 and reach completion in 2005. The plant will be Intel's fifth 300mm plant. Intel, based in Santa Clara, Calif., employs 9,000 workers in Arizona.  

CB Richard Ellis will acquire Insignia Financial Group in a $415-million transaction, creating the largest real estate services company in the world. With $1.8-billion in revenue and over 16,000 employees, the service company will have a broader gauge and provide global service at a more efficient price. CB Richard Ellis is based in Los Angeles.

Children's Medical Center of Dallas has completed a $17.8-million, 2,500-car parking structure adjacent to its Children's Pavilion. Constructed by McCarthy, the 805,000-sf design/build precast concrete parking structure is part of a long-term growth initiative to increase services and capacity at the hospital's main location.