Project: Interior renovation, Raytheon Technologies’ Independence project
Cost: $74 million
Location: Plano, Texas
Client: Raytheon Technologies
Raytheon Technologies has tapped Minneapolis-based contractor Adolfson & Peterson to complete the interior renovation of the defense contractor’s Independence office and lab facility in Plano, Texas, the builder announced in a May 9 release shared with Construction Dive. The total cost of the renovation will reach around $74 million, the contractor told Construction Dive.
The project includes a 236,000-square-foot interior finish-out of the existing four-story building, which includes office space and labs, according to the release. Additionally, the Plano campus project will include site improvements, security fencing, additional guard shacks and paving modifications.
AP has a history of working with Arlington, Virginia-based Raytheon — since 2014, it has completed more than 1.6 million square feet of projects for the company, which includes its CityLine campus in Richardson, Texas. The campus was sold to the real estate arm of The Church of Jesus Christ of Latter-Day Saints in 2017, the Dallas Morning News reported. Raytheon occupies the building on a long-term lease through 2026.
The general contractor is bullish on the prospects for construction in Texas. In March, Tommy Meserole, AP’s director of preconstruction for central Texas, told Construction Dive that the central Texas market was a “flourishing region” with “big projects.” However, he said, office construction is slowing in the region.
“If you are going to design and build new office space, my recommendation would be to make your office a magnet and not a mandate,” Meserole said.