"It's a 17-month schedule and we're due to be finished in September 2003," Centex's Erin Johnson tells GlobeSt.com. "We literally just dug a hole and are starting to pour concrete. It's on schedule." Upon completion, the Davis, Carter, Scott-designed building will consist of 15 floors--12 stories above grade and three sub-level floors for parking. While construction is going as planned, the project does present a few difficulties. "One of the challenging aspects involves tight site conditions," Centex's Mark W. Freeman tells us. "It's facing First Street and it's surrounded by other occupied buildings." Those sorts of challenges tap into an area of expertise for Centex company, a self-described specialized in at-risk construction management.
Centex's involvement in Union Center's last phase comes as no surprise. The company recently completed Greenebaum's $28 million Phase III, a 14-floor, 330,000-sf high-rise that is fully leased by the US General Services Administration. The first of the Union Center buildings went up 14 years ago and comprises 182,000 sf over 11 floors. That structure sold late last year for $34.5 million to Glendale, CA's American Realty Advisors, which acquired the property on behalf of one of its pension fund clients.
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