ATLANTA AND MEMPHIS, TENN. — Atlanta-based Noble Investment Group has plans to begin a $40 million renovation of the 191-room Hyatt Atlanta Midtown and the 243-room Memphis Marriott East. The Hyatt Atlanta Midtown is located at the corner of Peachtree and 10th Streets in Atlanta. The $21 million renovation will include removal of the old facade and creation of a modern architectural design, as well as a complete renovation of guest rooms and public spaces. Completion is slated for early 2013. The Memphis Marriott East, located at the intersection of Interstate 240 and Poplar Avenue in Memphis, will undergo a $19 million renovation, which will include a modernized exterior as well as upgraded guest rooms, reconfigured public spaces, a new restaurant and bar, incorporation of a Marriott Great Room lobby and enhancement of 10,000 square feet of meeting and event space. Completion is scheduled for the fourth quarter of 2012.
DELRAY BEACH, FLA. — Deerfield Beach, Fla.-based SIKON Construction Co. has broken ground on the 258,000-square-foot Delray Marketplace, a lifestyle center located at the intersection of West Atlantic Avenue and Lyons Road in Delray Beach. The center will include a 46,000-square-foot Publix, a 12-screen Frank Theatres and a 16-lane bowling alley, as well as retail shops and restaurants including Chico's, White House Black Market, Charming Charlie, Jos A. Bank, Bobby Chan Apparel, Max's Grille, Japango Sushi Thai Asian Cuisine, Shula Burger and Terra Fiamma. Indianapolis-based Kite Realty Group owns the property, and Orlando-based Cuhaci & Peterson designed it.
DAHLONEGA, GA. — The 264-bed Liberty Hall, a residence hall located at the North Georgia College & State University at 82 College Cir. in Dahlonega, has opened. The three-story, 65,343-square-foot building includes 84 suite-style units, a fully equipped kitchen, a computer lab, and a common space featuring gaming, television and areas designed for military unit assembly. The facility was developed through a turnkey design-build contract between Ambling University Development Group and the state of Georgia and was funded through tax-exempt bonds.
GAINESVILLE, VA. — Calkain Cos. has arranged the approximately $3 million sale of a 7,440-square-foot retail property, located in Gainesville. Tenants include 7-Eleven and a local veterinarian. Jeff Bogart of Calkain Cos.' Reston, Va., office represented Buchanan Partners, the seller, in the transaction. Ui Chung of Annandale, Va.-based Hana Realty represented the buyer, a local investor.
ST. LOUIS — Lambert-St. Louis International Airport will reopen its C Concourse in April, a year after a tornado blew out the arched windows in the Terminal I, damaged the concourse roof and caused extensive damage to airline gate areas. Kwame Building Group is the construction manager for the restoration, which includes roof and window replacement and repair on the concession areas. Kwame is also leading a $70 million renovation project at Lambert that began in 2008 and was underway when the tornado struck. The project will upgrade the A and C concourses. Additional work to the C concourse will include new lighting and renovated restrooms. The project is scheduled to be complete by the end of this year.
EVANSTON, ILL. — The nearly 6-year relocation and expansion project at Roycemore School in Evanston, Ill. is complete. Last month, the private school opened its new 68,000-square-foot facility at 1200 Davis St. The school serves 265 students from grades pre-kindergarten through high school, with room to expand enrollment to about 350 students. The building also includes a media center and full-sized gym. The school's previous campus was located at 640 Lincoln St. in Evanston, which the school leased from Northwestern University. Podolsky Northstar CORFAC International assisted Roycemore with the site selection and evaluation process.
CINCINNATI, FORT SMITH, ARK. — Phillips Edison's Strategic Investment Fund I has closed two CMBS loans totaling $94.5 million. The 10-year loans are secured by shopping centers in Cincinnati and Fort Smith. The Cincinnati property is Bridgewater Falls, a 600,000-square-foot center anchored by Target, JCPenney and Dick's Sporting Goods. Fort Smith Pavillion in Fort Smith is a 400,000-square-foot shopping center anchored by Target and Dick's Sporting Goods. Both properties are more than 95 percent occupied.
MINNEAPOLIS — The Ackerberg Group has completed construction of a new 436-stall parking ramp, public art plaza and pedestrian bridge linking the Midtown Greenway trail to the heart of Uptown in Minneapolis. The art plaza is part of Ackerberg's MoZaic project, a mixed-use development between Fremont and Hennepin avenues. It includes public art installations, patio space for MoZaic's restaurant tenants and a public gathering space. The art plaza will link Lagoon Avenue with the Midtown Greenway through the new bridge, which was funded in part by a Hennepin County Transit Oriented Development grant.
WAREN, N.J. — Jones Lang LaSalle Capital Markets has arranged $32 million in permanent financing for 30 Independence Blvd. on behalf of an affiliate of Beacon Capital Partners. The 210,524-square-foot Class A office building in Warren is fully leased to Verizon Wireless. Wes Boatwright, Jon Goldstein, Mike Yavinksy and Dustin Stolly of Jones Lang LaSalle led the team that secured the loan through Sovereign Bank.
NEW YORK CITY — The $19 million renovation of 80 Broad St. in Manhattan's Financial District is complete and owner Savanna has put the property back on the market. The 417,000-square-foot, multi-tenant office building includes a renovated lobby with enhanced lighting and modernized elevators. Savanna acquired the property in September 2011, but took it off the market to begin the capital improvement project. About 150,000 square feet of office space is currently available.