Industry News

Time Warner opened its new headquarters in New York City  in early February 2004. The $1.7-billion facility will house the future Manhattan studios of CNN. The two-tower development accommodates 211,000 sf of office space. The 2.8 million-sf complex also contains a luxury hotel and high-end retail space.

Baltimore Gas and Electric Co. (BGE) will renovate its historic East Tower facility in Baltimore to serve as the company’s new headquarters. Housing over 500 employees, the project will include retail space on the first level. The 18-month renovation is expected to reach completion in mid- to late 2005. BGE recently sold the West Tower, the site of the company’s former headquarters. Construction will include separation of the infrastructure of the two buildings as well as HVAC, electrical, and elevator upgrades.

Oregon State University will complete the first phase of expansion of its College of Veterinary Medicine in fall of 2004, adding a small animal hospital to Magruder Hall. The entire veterinary medicine program will be brought to Corvallis from where it was previously taught at Washington State University’s Pullman campus. The second $10-million expansion phase will add 33,000 sf to Magruder Hall’s large animal hospital.

Glenview, Ill.-based Illinois Tool Works will construct a $10-million manufacturing facility in Charlotte, N.C., for the production of commercial cooking equipment. The plant will be sited in Trinity Partners’ Westlake Industrial Park.

Albany College of Pharmacy has purchased a 56,000-sf building in Albany, N.Y., for three million dollars. Formerly a senior residence owned by the Episcopal Diocese of Albany, the facility will accommodate student housing and offices for admissions and financial aid. The building is sited near The Charitable Leadership Foundation’s $60 million, 150,000-sf Center for Medical Science where the College of Pharmacy has additional operations.