REAL ESTATE

CVS opens MinuteClinics in Southeastern North Carolina

BY Dan Berthiaume

Woonsocket, R.I. – The first MinuteClinic walk-in medical clinic in coastal Southeastern North Carolina has opened inside a CVS/pharmacy store in Wilmington. Additional clinics in Carolina Beach and Leland are expected to open in late October.

The Wilmington clinic is MinuteClinic’s 54th in North Carolina. The clinics are open seven days a week. No appointments are required at MinuteClinic and most health insurance is accepted.

"Since the first store-based clinic opened in North Carolina in 2005, MinuteClinic has helped to expand patient access to high-quality, convenient and affordable care at CVS/pharmacy locations near where residents live and work," said Andrew Sussman, M.D., president, MinuteClinic and senior VP/ associate chief medical officer, CVS Caremark Corporation.

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REAL ESTATE

CBL closes $80 million loan secured loan

BY Michael Fickes

Chattanooga, Tenn. — CBL & Associates Properties, Inc. has closed on an $80 million non-recourse loan secured by The Outlet Shoppes at Atlanta, a 75/25 joint venture with Horizon Group Properties. The 10-year loan bears a 4.9% fixed interest rate. Proceeds from the loan were used to repay a $53.2 million recourse construction loan. CBL used its share of the remaining funds to reduce outstanding balances on the company’s unsecured credit facilities.

The Outlet Shoppes at Atlanta is a 370,000-sq.-ft. outlet center located north of Atlanta in Woodstock. CBL and Horizon co-developed the project. Horizon is responsible for leasing, marketing and managing the center.

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REAL ESTATE

Skanska breaks ground on Seattle retail, office tower

BY Michael Fickes

Seattle — Skanska USA Commercial Development Inc. has broken ground on 400 Fairview alongside its first major office tenant — Tommy Bahama.

Skanska is the first developer to start work in the South Lake Union area of Seattle since the City Council rezoned the one-time industrial hub for office and retail.

The 400 Fairview building will be a 13-story tower with 320,000 sq. ft. of office space and 17,000 sq. ft. of ground floor retail. Skanska is targeting LEED Gold certification on the building.

Tommy Bahama plans to move into its new 120,000-sq.-ft. headquarters offices in 2015.

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