flexiblefullpage
billboard
interstitial1
catfish1
Currently Reading

Controlling interest in Clark Construction sold to employee group

Contractors

Controlling interest in Clark Construction sold to employee group

The death of its founder last year set the wheels of this transition in motion. 


By John Caulfield, Senior Editor | January 15, 2016

Nationals Park in Washington, D.C., is one of myriad construction projects that Clark Construction has been hired to build over the past several decades. The company's ownership has been sold to a group of senior-level executives. Photo: Wikimedia Commons

Clark Construction Group, one of the country’s largest building and civic construction firms, reportedly has been sold to over a dozen of its long-time owners and executives.

The Washington Post reports that the new owners of Bethesda, Md.-based Clark, who will now control 100% of the business, include its Chairman Dan T. Montgomery, its Director Peter C. Forster, and its President and CEO Robert D. Moser Jr. Clark Construction, which generates more than $4 billion in annual revenue, has 4,000 employees in 11 offices in the U.S.

Terms of this agreement were not disclosed. A call to Clark’s spokesperson, Susan Ross, was not returned by presstime.

What precipitated this transition of ownership was the death from congestive heart failure of the 87-year-old A. James Clark in March 2015. His Clark Enterprises owned a majority stake in Clark Construction. The sale of Clark Construction was announced on January 14, but apparently had been consummated several weeks earlier.

Clark Enterprises, a diversified private investment management firm, will now be separate from Clark Construction, which dates back to 1906, and whose iconic projects have included Verizon Center, Nationals Park, and FedEx Field in Washington D.C., along with the Ronald Reagan Building in Los Angeles and an addition to Lincoln Center for the Performing Arts in New York City.

According to the company’s history, the present-day Clark Construction Group evolved from its biggest subsidiary, The George Hyman Construction Company. A. James Clark, who had been an employee of Hyman since 1950, took over the business in the 1960s and established Clark Construction in 1982.

Clark Construction’s expertise extends to design-build, lean and pre-construction, public-private partnerships, and virtual design and construction. Its 23 market sectors include offices, aviation, sports and entertainment, mission critical, hospitality, government, education, and multifamily.

Among its recent projects is a joint venture with Horizon on the $100 million, 250,000-sf Joint Processing Center in Houston that is expected to establish a new level of correctional processing for that city. The building will include temporary holding cells, medical facilities and cells, arraignment courtrooms, short-term inmate housing, and operations for the County Sheriff and City Police departments.

Clark is building the 43-story, 872,000-sf Park Tower at Transbay in San Francisco, a JV of The John Buck Company, Golub and Company, and Metlife, and designed by Goettsch Partners. And Clark is engaged with architect Fentress Architects in a $500 million renovation of 500,000 sf of exhibit and interior spaces at the Miami Convention Center, a project that includes an addition of a 60,000-sf ballroom with meeting and pre-function space.

Related Stories

Reconstruction & Renovation | Aug 3, 2022

Chicago proposes three options for Soldier Field renovation including domed stadium

The City of Chicago recently announced design concepts for renovations to Soldier Field, the home of the NFL’s Chicago Bears.

Codes and Standards | Aug 2, 2022

New tools help LEED projects reach health goals

The U.S. Green Building Council now offers tools to support the LEED Integrative Process for Health Promotion (IPHP) pilot credit.

Market Data | Aug 2, 2022

Nonresidential construction spending falls 0.5% in June, says ABC

National nonresidential construction spending was down by 0.5% in June, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau.

K-12 Schools | Aug 1, 2022

Achieving a net-zero K-12 facility is a team effort

Designing a net-zero energy building is always a challenge, but renovating an existing school and applying for grants to make the project happen is another challenge entirely.

Healthcare Facilities | Aug 1, 2022

New Phoenix VA outpatient clinic is one of the largest veteran care facilities in the U.S.

The new Phoenix 32nd Street VA Clinic, spanning roughly 275,000 sf over 15 acres, is one of the largest veteran care facilities in the U.S.

Codes and Standards | Jul 29, 2022

Few projects and properties are being built beyond code

Clients and architects disagree on how well building to code provides resilience, according to a recent report by the American Institute of Architects (AIA) in partnership with Owens Corning.

Headquarters | Jul 29, 2022

Nike HQ’s newest, largest structure: the Serena Williams Building

In Beaverton, Ore., the new Serena Williams Building, at just over 1 million square feet, is the largest structure at Nike World Headquarters.

| Jul 28, 2022

Fanning Howey hires Dennis Bane, AIA, as Project Executive

Fanning Howey, an architecture, interiors and engineering firm specializing in learning environments, has hired Dennis Bane, AIA, ALEP, to serve as a Project Executive for the firm’s Indianapolis office.

Multifamily Housing | Jul 28, 2022

GM working to make EV charging accessible to multifamily residents

General Motors, envisioning a future where electric vehicles will be commonplace, is working to boost charging infrastructure for those who live in multifamily residences.

Urban Planning | Jul 28, 2022

A former military base becomes a substation with public amenities

On the site of a former military base in the Hunters Point neighborhood of San Francisco, a new three-story substation will house critical electrical infrastructure to replace an existing substation across the street.

boombox1
boombox2
native1

More In Category

Construction Costs

Data center construction costs for 2024

Gordian’s data features more than 100 building models, including computer data centers. These localized models allow architects, engineers, and other preconstruction professionals to quickly and accurately create conceptual estimates for future builds. This table shows a five-year view of costs per square foot for one-story computer data centers. 


Sustainability

Grimshaw launches free online tool to help accelerate decarbonization of buildings

Minoro, an online platform to help accelerate the decarbonization of buildings, was recently launched by architecture firm Grimshaw, in collaboration with more than 20 supporting organizations including World Business Council for Sustainable Development (WBCSD), RIBA, Architecture 2030, the World Green Building Council (WorldGBC) and several national Green Building Councils from across the globe.



Healthcare Facilities

Watch on-demand: Key Trends in the Healthcare Facilities Market for 2024-2025

Join the Building Design+Construction editorial team for this on-demand webinar on key trends, innovations, and opportunities in the $65 billion U.S. healthcare buildings market. A panel of healthcare design and construction experts present their latest projects, trends, innovations, opportunities, and data/research on key healthcare facilities sub-sectors. A 2024-2025 U.S. healthcare facilities market outlook is also presented.

halfpage1

Most Popular Content

  1. 2021 Giants 400 Report
  2. Top 150 Architecture Firms for 2019
  3. 13 projects that represent the future of affordable housing
  4. Sagrada Familia completion date pushed back due to coronavirus
  5. Top 160 Architecture Firms 2021