Industry News

Progress Energy is planning to lease over 450,000 sf in two new office towers to be developed in downtown Raleigh in order to consolidate operations currently scattered in 250,000 sf across Raleigh. The towers, which may rise as high as 18 to 20 stories each, will be located on a two-acre site adjacent to Progress's current 21-story, 250,000-sf office. Progress, providing only the land and the lease guarantee, has issued a request for proposals to 14 development companies and plans to make a selection in April 2002.

Defense contractor Raytheon is considering the sale of its Lexington, Mass. headquarters due to the 41-year-old facility's expensive operating costs. Raytheon plans to decide by year-end whether to seek another Boston area location or to upgrade its existing headquarters, which include the commercial electronics main office, a research lab, and two buildings housing corporate staff.

Montgomery College in Rockville has selected architectural firm Einhorn Yaffee Prescott to develop a master plan for its Germantown, Rockville, and Takoma Park campuses. The plan will integrate factors such as current land holdings, increased enrollment, and growth options for the fields of science and biotechnology.

Duke University has selected contractors Beacon Skanska and Beers Skanska of Raleigh, N.C., to build the $30-million West Edens Link Dormitories. The 120,000-sf project, designed by Philadelphia-based Kieran Timberlane & Harris, is slated for completion in July of 2002.

Computer Sciences Corp. (CSC) of El Segundo, Calif., is seeking 240,000 sf in Dallas to house over 1,300 employees and consolidate its five Dallas offices. CSC, a supplier of technical services, has issued 28 requests for proposals from developers and landlords, for either a long-term lease of existing space or development of a new location.