Industry News

Vanguard Group has completed construction of three 120,000-sf buildings on a 300-acre site in Malvern. The mutual fund giant is also initiating premliminary work on a 250-acre, 2.5 million-sf campus which may enter the first phase of construction in spring of 2002. The multiphase project would begin with the development of two 320,000-sf facilities on 70 acres.  

Peoplesoft has proposed expanding its Pleasanton operations with a new 181,000-sf office facility adjacent to its existing 815,000-sf complex in the Hacienda Business Park. Housing 800 employees, the project is slated for completion in fall of 2003 . The $30-million, five-story building is part of Peoplesofts' approved 534,000-sf expansion plan which will total 1.4 million sf upon completion.  Peoplesoft hopes to consolidate other leased space and relocate employees to its headquarters which currently houses 2,300 workers.

Allstate Corp. of Northbrook, Ill., will lease 50,030 sf of the new Two Twin Oaks facility planned by real estate developer Koontz McCombs LLC. Located in the Twin Oaks Office Park in North Central San Antonio, the 70,000-sf building will contain 67,000 nsf of rental space.

California-based tech giant Cisco Systems has planned 13 buildings in Boxborough and Littleton totalling 1.5 million sf and is seeking approval to develop 500,000 sf in three additional buildings for a total of 2 million sf. At the Boxborough office campus, the network switching and routing company's "second home" in Massachusetts, only a small portion of the currently unoccupied 10-building campus has been built.

Renovations to a 48,000-sf building have been completed at Point Loma Nazarene University's Mission Valley campus.