Plans coming for medical campus addition

An investment group that wants to construct a new multi-tenant building in the Buffalo Niagara Medical Campus will be presenting its plans to two different city agencies this week.

Representatives from the development team will be meeting with the Buffalo Planning Board on Tuesday morning and the city's Zoning Board of Appeals on Wednesday afternoon to review the proposed two-story, 35,000-square-foot building, set for the site of the Buffalo Tourist Lodge at 1159 Main St.

The project carries a $10 million development price tag.

The building is being constructed by the Savarino Cos. and is designed by Silvestri Architects. CB Richard Ellis Buffalo is marketing the building.

No tenants have been signed, but Savarino officials said negotiations are underway with several prospective office users.

Pending various municipal approvals, construction will likely start this spring.

The Buffalo Tourist Lodge remains open until the project is green lighted and construction begins.

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source: bizjournals.com

Haemonetics leases office space in Stoughton

Haemonetics Corp. signed a lease for 55,000 square feet at 179 Campanelli Parkway with the Campanelli Cos.

Following Haemonetics long-term lease, the building, located in the AMB Business Park in Stoughton, Mass., is 100 percent leased.

Haemonetics will relocate its warehouse operations and employees from a facility in Avon to the AMB Business Park in November. DTZ FHO Partners represented Haemonetics in the lease and the landlord, Braintree, Mass.-based Campanelli Cos. represented itself. Earlier this year, Haemonetics renewed its lease for 43,708 square feet of office space at 355 Wood Road in Braintree. DTZ FHO Partners also represented Haemonetics in the Braintree lease.

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source: bizjournals.com

Diagnostic Health moves to Inverness

HealthSouth Corp. spin-off Diagnostic Health Corp. has leased 13,000 square feet and moved its headquarters to Inverness Center Parkway in Birmingham.

The diagnostic imaging provider was housed on HealthSouth's corporate campus on U.S. 280 prior to moving to Inverness. The Gores Group finalized the purchase of HealthSouth's diagnostic division in July for $47.5 million.

Diagnostic Health has 50 Birmingham-based employees and 1,000 in 50 freestanding locations across the country.

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source: bizjournals.com

Sinclair makes investment in apartment complexes

Sinclair Broadcast Group Inc. said Monday it has made a $3.1 million investment in two apartment complexes.

The Hunt Valley firm had taken a 9.75 percent ownership stake in Preston Hills Apartments in Atlanta, and the Lakeshore Apartments in Indianapolis. Both properties are managed by Harbor Group International LLC, a real estate property firm based in Norfolk, Va.

Sinclair's move highlights the firm's attempts to diversify its portfolio beyond television broadcast stations. In November, Sinclair (NASDAQ:SBGI) acquired a majority stake in a company that funds security alarm businesses for $5.5 million.

In May it bought Triangle Sign & Service Inc., a Baltimore firm that designs retail stores, sports complexes and other businesses.

Harbor Group holds an investment portfolio in excess of $2 billion, office space in the U.S., Canada and the United Kingdom and more than 12,000 apartments in the U.S.

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source: bizjournals.com

Medifast bulks up franchising opportunities

Medifast Inc. said Monday it has received approval from seven additional states to sell its weight control center franchise and plans to open up to 30 new locations in the next two years.

The approval makes the Medifast Weight Control Center franchises available in 43 states. The seven additional states include Maryland, California, Illinois, Minnesota, New York, Rhode Island and Virginia.

The Owings Mills diet product company said its centers offer weight loss plans in which patients can expect to lose 2 to 5 pounds a week for around $7 per visit.

Medifast's (NYSE: MED) real estate arm, Jason Properties LLC, operates 10 corporate-owned weight control centers in Texas and Florida.

Monday's news is another growth move for Medifast as it works to land customers in the hotly competitive, multibillion-dollar weight loss industry. The company reported revenue in 2006 of nearly $74.1 million, up from $40.1 million in 2005.

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source: bizjournals.com