GROUND BREAKS ON $100M BIOTECH BUILDING

RICHMOND, VA. — Richmond-based Lingerfelt Development has started construction on the $100 million, 300,000-square-foot BioTech 8 building, a three-building headquarters for Health Diagnostic Laboratory Inc. (HDL), located within the 34-acre Virginia BioTechnology Research Park in downtown Richmond. After demolishing the BioTech 3 building, the company will construct Phase I of the property, which will include a 112,000-square-foot, six-story wet lab biotechnology building. Completion is slated for December 2012. A second phase, including an additional 112,000-square-foot, six-story tower, will begin in 2013. When fully completed, both phases plus HDL's existing building will total 300,000 square feet.