Business
New digs for Davol, EMC Insurance
01:00 AM EDT on Friday, September 7, 2007
Drivers on Route 95 in Warwick are beginning to glimpse the skeletons of two office towers being built by Carpionato Properties Inc. at the site of a former gravel pit off Route 5.
The new headquarters for medical-technology developer Davol Inc., a subsidiary of New Jersey-based C.R. Bard Inc., is about 30-percent complete, according to Kelly M. Coates, a senior vice president for Johnston-based Carpionato.
Construction crews have completed the steel structure and are finishing the roof deck and preparing to put up exterior walls. The 120,000-square-foot building is scheduled to open in the first quarter of next year, allowing Davol to vacate its 74,000-square-foot headquarters in Cranston.
The second tower Carpionato is constructing at the site, known as 200 Crossings Boulevard, is 40-percent complete, Coates said.
EMC Insurance Cos. will occupy about 23 percent of the building’s 65,000 square feet. No other tenants have been announced.
The company is expected to gain access to the building Dec. 1, and to begin moving out of its regional headquarters, at 60 Jefferson Park, in Warwick.
“We’re talking with a lot of other companies,” Coates said yesterday. “It’s a wonderful spot, a signature location. Obviously, we have a lot of interest.”
In all, Carpionato is spending $35 million to develop the six-acre site, part of a $100-million investment along Route 5.
Last summer, Carpionato opened a Lowe’s outlet at the site of a former Apex department store. The construction company will soon begin building smaller retail buildings on the site, and lease adjacent land for a Super Stop & Shop.
Carpionato is also moving forward with an expansion of the Crowne Plaza hotel, next to the new office buildings at Routes 5 and 113.
That project has been held up by “permitting and legal issues,” according to J. Rudi Heater, the hotel’s general manager. But yesterday, Heater said construction on the additional 113 rooms could start by April.
“The addition is still very much on track,” Heater said. “We fully expect to be open and operating 15 months after the beginning of construction.”
bgedan@projo.com / (401) 277-8072
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