The cost of its new headquarters was not released and there was no information available on what will happen to the company's San Francisco office. The company began considering East Bay for its worldwide headquarters when it realized the limited amount of space available in San Francisco, it's price, and the number of workers – more than half of its San Francisco staff -- it has living in the East Bay, says PMI president Stephen Smith.

The building is already under construction and should be competed by the end of the year. Company officials anticipate opening during the first quarter of 2002. Located across the street from the Pleasant Hill BART, the building will include a 550-space, five-story parking garage and 15,000 sf of retail.

PMI has offices around the world, including Australia, Europe, Hong Kong and New Zealand and employs 1,105 people worldwide. In the Bay Area, PMI has a branch in Pleasant Hill, where 30 people work. According to company sources, more than half the employees currently working in San Francisco also live in the East Bay.