Construction Pact Reported by Nichols
Nichols Institute, a diagnostic laboratory based here, said it signed agreements with the Krause Cos., a San Francisco developer, for financing and construction of the first phase of the company’s new headquarters on Ortega Highway.
Under the agreement, the Krause Cos. will build and obtain financing for the $33-million project, said Jim Whitmer, Nichols’ chief financial officer.
Whitmer said the Krause Cos. will build about 230,000 square feet of a total 400,000 square feet of laboratory and administrative space planned for the 100 acres next to Ronald W. Caspers Regional Park.
The company will also do site preparation for future phases of the development. Buildings in the first phase of development are expected to be completed in mid-1991.
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