Industry News

The International Monetary Fund (IMF) is building a new 650,000-sf facility adjacent to its existing headquarters in Washington. Slated for completion in mid 2005, the building will consolidate several of the IMF's operations in the District. Development manager for the project is CarrAmerica Urban Development, with Clark Construction as general contractor.

National Surgical Hospitals (NSH) opened the 30-bed Spine Hospital of South Texas and an accompanying medical office building in September. A joint venture of NSH and approximately 20 local physicians, the $30-million Stone Oak medical development will specialize in surgical spine care and pain management. The facility is designed to eventually expand to 40 rooms.

Idec Pharmaceuticals broke ground in October 2002 on its new five-building corporate headquarters and laboratory facility in San Diego's University Towne Center. San Diego-based Cisterra Partners is developer of the 42.6-acre project, with Hellmuth, Obata + Kassabaum of St.

World Airways has leased 70,200 sf in Morrow for an airplane parts distribution warehouse. Located in a 100,200-sf warehouse center, the facility will enable World Airways to consolidate its operations to Atlanta, as the carrier plans to close its Delaware distribution facility with the move to Morrow. World Airways is a 15-airplane long-haul charter operator that serves the U.S. Armed Forces.

Boston University will establish the Center for Chemical Methodologies and Library Development with a $10.7-million grant from the National Institute of General Medical Sciences of the National Institutes of Health. The project will involve construction of chemistry libraries for licensing to biotechnology and pharmaceutical companies.