THG Investments, a 14-year-old Pensacola-based private investment firm focused on health care companies, recently announced the acquisition of two medical buildings in the Baldwin County area – the Fairhope Surgery Center and the Foley Medical Building. The Fairhope Surgery Center, located at 411 N. Section St., is a 36,570-square-foot, three-story medical office building. It is located on a 1.89-acre site and features private offices, exam rooms, conference rooms, a common lobby area, an ambulatory surgery center and an eyeglass store.
The Foley Medical Building is a 6,000-square-foot medical office property situated at 1624 N. McKenzie St. Primarily used for optometry, the property is positioned directly across from the South Baldwin Regional Medical Center near the downtown area.
THG Investments CEO Chad Henderson voiced enthusiasm about expanding their footprint in the Eastern Shore area.
“I am proud of our strategic and collaborative efforts that will increase patient access for quality eye care throughout Baldwin County,” he said.
Commercial Real Estate Moves
According to Amber Dedeaux with Vallas Realty, Ashland Station located at Old Shell Road and Florida Street in MiMo recently acquired three new tenants.
TMAC’s Hair Salon opened a 2,800-square-foot full service salon; Studio 3 Children’s Art Studio and School Works home schooling program jointly moved into 1,200-square-foot studio space and upscale teen retailer Mila Sky Boutique set up shop in a 1,500-square-foot retail space.
According to Dedeaux, only one 1,900-square-foot space now remains available at the shopping center.
John Delchamps, associate broker with Merrill P. Thomas Co., leased an 800-square-foot office space in a four-unit building at 30041 State Highway 59 in Loxley to Ferrellgas Company. This is Ferrell’s first office in the area and it is a five-year contract. Ferrellgas is a 70-year-old propane gas firm with approximately 1 million customers spread throughout all 50 states.
Delchamps also represented All Perils Emergency Services, LLC to lease a 1,875-square-foot office and warehouse space at 9101 Milton Jones Road in Daphne.
Historically significant St. Francis Street United Methodist Church located at 15 N. Joachim St. in downtown Mobile is currently up for sale for $320,000. Burton Clark with Cummings & Associates is facilitating acquisition of the property. The building is 16,000-square-feet and sits on a 17,000-square-foot corner lot.
Marl M. Cummings with Cummings & Associates recently leased a 2.4-acre site at the southeast corner of Old Shell and Hillcrest roads – across from the University of South Alabama – to Bebo’s Market. Plans are to construct a new convenience store by early 2015. Cummings represented the property owner and Matt Sankey of Inge & Associates worked for the tenant.
Spring Hill Avenue Baptist Church recently sold their facilities at 2653 Spring Hill Ave. for $500,000 to the Covenant Presbyterian Church. Spring Hill Avenue Baptist had been at their current site near Crichton for over 107 years according to Paul Carter with the Paul Carter Agency. Covenant Presbyterian is in the process of renovating the buildings and members are already meeting at the new locale.
Following the sale, Spring Hill Avenue Baptist Church then purchased a church building and over 7.35 acres owned by the West Jordan Baptist Church at 335 Eliza Jordan Road for $250,000. Spring Hill is changing their name to Hill Spring Baptist Church. Upgrades to the property are currently underway and first religious services should be held at the site soon.
Paul Carter represented the buyers and sellers for both transactions.
Bellator donates $10,000 to local nonprofits
Bellator Real Estate and Development recently announced its inaugural “Listing Challenge for Charity.” The event will last for 60 days in which agents compete to generate new real estate listings, culminating in an awards ceremony where contest winners will divide $10,000 among four pre-selected charities. The chosen charities for 2014 are the Baldwin County Boys Ranch, Ronald McDonald House, Under His Wings and Wilmer Hall.
“As the managing broker of the west Mobile office at Bellator, we support the many community service projects with which our agents are involved. We believe this particular event will help raise local awareness of those in need around our communities,” Don Jones, Managing Broker of Bellator’s Mobile Division said.
Bellator is the marketing agency for Truland Homes, a locally owned custom homebuilder based in Spanish Fort.
Local physician at forefront of spinal cord stimulation research
Dr. Thomas L. Yearwood of Comprehensive Pain and Rehabilitation (CPR), headquartered in Daphne with offices in Pascagoula and Biloxi, was one of only five physicians in the country to recently meet with leaders from Boston Scientific Neuromodulation (BSN) to discuss the future of spinal cord stimulators and advances in treatment of chronic pain.
“We always enjoy visiting with Dr. Yearwood. As a global thought leader and researcher, he provides us with interesting perspectives and challenges us to think differently,” Allen Meacham, BSN’s vice-president of U.S. sales said.
BSN is the largest manufacturer of spinal cord stimulators for use in treating chronic pain in the world.
CPR is a locally-owned multi-disciplinary medical practice devoted to the diagnosis and treatment of chronic pain using an integrated program of interventional pain medicine, behavioral medicine and functional rehabilitation.
AM/NS Calvert President Chris Richards named “Leader of the Week”
AM/NS Calvert President Chris Richards has been named Industry Week’s “Leader of the Week.” Founded in 1882, Industry Week has been providing manufacturing executives with insights, trend analysis and global manufacturing news for over 130 years.
“Chris was appointed by our joint venture board last March to lead our team and implement our new owner’s aggressive plans to safely grow our facility to full production and maximize its state-of-the-art capabilities, especially as they relate to the automotive and pipe and tube industries,” Scott Posey, Director of Communications said.
ArcelorMittal and NSSMC are currently pouring $40 million into a slab yard expansion project and $6.7 million into their No. 4 continuous coating line. These investments are aimed at bringing the facility up to a total annual production capacity of 5.3 million metric tons by mid-2016.
Wilkins Miller Hieronymus announces promotions
Wilkins Miller Hieronymus (WMH), a local accounting and advisory firm, recently announced that Eric Haynes, CPA, CGMA and Amanda Jones, CPA, have both been promoted to the positions of Senior Accountant.
Both are graduates of the University of South Alabama with B.S. degrees in business administration, majoring in accounting as well as members of the American Institute of Certified Public Accountants (AICPA) and the Alabama Society of CPAs (ASCPA).