Ashland Inc. on Monday broke ground for a 162,400-square-foot office building on its Lexington campus between Blazer Parkway and Palumbo Drive.
The building will serve as the global headquarters for Valvoline, a business unit of Ashland that has been based in Lexington for more than 30 years. The new facility, which Ashland plans to lease, is being built in the northwest corner of the campus off Palumbo Drive, on land already owned by Ashland.
The $35 million development is expected to be completed by February 2017. Ashland currently leases space in two campus buildings for its roughly 600 Lexington-based employees. The lease on those two facilities, which were built for Ashland in the early 1980s, will expire in March 2017.
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