RICHMOND, Va., April 23, 2013 /PRNewswire/ -- The Lingerfelt Companies, headquartered in Richmond, Virginia (www.LingerfeltCo.com), announce that development has begun on the third phase of BioTech 8, a six-story tower within the 34-acre Virginia BioTechnology Research Park in downtown Richmond. The project will complete this $100 million three-building headquarter complex totaling 276,000 sq. ft. including a four-story, 485-space parking deck.
This facility is an expansion for Health Diagnostic Laboratories, Inc. (HDL, Inc.), one of the nation's fastest-growing health management companies, a CLIA-certified and CAP-accredited laboratory offering a comprehensive test menu of risk factors and biomarkers for cardiovascular disease, diabetes and related diseases.
The Lingerfelt Companies Principal Ryan Lingerfelt states, "Since partnering with HDL in 2009, development has been fast paced with the third phase six-story tower scheduled for completion spring 2014. Lingerfelt is pleased to assist HDL in their expansion by developing all three of their buildings within the BioTechnology Research Park totaling 276,000 sq. ft. and a $100 million investment. HDL is a significant complement to our growing health care development portfolio. We have enjoyed partnering with such a high-quality and successful company."
The Phase III BioTech 8 expansion for HDL will take total development at the Virginia BioTechnology Research Park to more than 1.25 million sq. ft. HDL's growth combined with the BioTech Park's unique mix of over 60 public and private bioscience companies, including three publicly traded firms, contribute to this park's success in attracting companies globally.
This Lingerfelt announcement is preceded by having recently completed several other local heath care related developments: OrthoVirginia, a $25 million 70,000 sq. ft. medical facility for OrthoVirginia orthopaedic specialists and HCA Virginia CJW Sports Medicine; the Virginia Community Healthcare Association Headquarters, a two-story, 25,268 sq. ft. building; and the 100,000 sq. ft. Bon Secours Heart Institute.
The Lingerfelt Companies have a proven history of meeting clients' needs and challenges through successful quality real estate solutions backed by over 12 million sq. ft. of development and acquisition valued at over $1 billion. Customizing design and structure to meet each client's specific development requirements, the Lingerfelt Companies specialize in build-to-suit projects, working with the client to exceed their objectives. From initial concept to project completion, the Lingerfelt Companies bring a full range of in-depth planning and a proven track record to every project.
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MORE INFORMATION CONTACT
Principals of the Lingerfelt Companies: Alan T. Lingerfelt, PE, Ryan Lingerfelt, and Brian Witthoefft, 804.270.0015.
SOURCE Lingerfelt Companies