Industry News

The Boston Regional Medical Center is slated to be redeveloped into the Stoneham Executive Center, an R&D park with office, medical and biotechnology facilities. The $50 million project proposed by the Gutierrez Co. would include modifications to the existing developed 40.7-acre site and construction of 540,000 sf of space in three new office buildings, to be completed around August of 2002.

Architectural Concepts has selected Patillo Construction Co. to build their new 100,000-sf corporate headquarters. Architectural Concepts, based in Tucker, produces tradeshow and permanent exhibits.  Having outgrown its current 50,000-sf building, Architectural Concepts' new facility with 17,000 sf of office space and 50,000 sf of storage will stand only 500 yards away.  Including a 10.5-acre tract, the new facility could cost from $4 million to $7 million.

Teleglobe is relocating its corporate headquarters from Montreal to Reston, adding 200 personnel to its 800-person staff base in Northern Virginia.  As part of a plan to build data centers around the country, Teleglobe is planning an 126,000-sf facility in D.C. as well as searching for a site to lease on the Dulles Corridor in the "Silicon Valley of telecommunications".

Cambridge-based pharmaceutical company Alkermes, Inc., has leased 91,000-sf in Chelsea at Brickyard Square Biotech Park to house its subsidiary, Advanced Inhalation Research. The space features 28-foot high ceilings conducive to manufacturing. Alkermes will invest more than $25 million in the structure.

Santa Clara, Calif.-based Wipro Technologies is planning a 30-acre campus in Hyderabad, India. As a part of Wipro Ltd., a Bangalore-based IT services provider, the software development center will house 3,000 software professionals. Wipro currently employs over 1500 workers in their existing Hyderabad facility.