Regions Midwest
Skanska to Build $56M Michigan Hospital
Oct 2, 2008
By: Thomas Peretti, Contributing Correspondent

Skanska has been awarded a contract to design and build the William Beaumont Hospital in Troy, Mich., at a contract amount of $56 million. The project is a joint venture between Skanska and construction management firm Barton Malow, in which Skanska has a 51 percent stake.

The project originally broke ground in June 2007 and is expected to be completed in October 2010. The plans call for approximately 17,000 square feet of facilities on the site, including about 7,000 square feet dedicated to an emergency care center and a critical care tower. Additionally, the firm plans to build a three-story ambulatory care center, an expansion on the existing West Tower, a loading dock, powerhouse expansion and a connector bridge linking the existing main campus to the new ambulatory care center.

Skanska, headquarted in Stockholm, is a construction firm with significant experience in public-private partnerships. The subsidiary in charge of the hospital project, Skanska USA Building, represents a variety of clients comprised of the healthcare, education and entertainment industries, among others. The firm’s revenues totaled nearly $4 billion in 2007. CPN reported in July that The Skanska Group was named by Cablevision Inc. as the construction manager on a $500 million renovation of Madison Square Garden in Manhattan.

 
Recent Midwest Headlines
JV to Develop 162,000-SF Office Building near Chicago
Bridge Development Partners L.L.C. in partnership with Globe Corp. will develop 555 Corporate Center, a 162,000-square-foot, four-story speculative office building at 555 Aptakisic Road in Lincolnshire, Ill.  Plans call for the Class A office facility to be LEED certified by the U.S. Green Building Council.
ProLogis Leases 750,000 SF near Chicago
ProLogis has leased approximately 750,500 square feet near Chicago to Kimberly-Clark Corp., a leading global, health and hygiene company.
Developers Diversified, Cole Form JV for Missouri Shopping Center
Developers Diversified Realty Corp. has formed a $62 million joint venture with Cole Real Estate Investments for the ownership of Independence Commons, a 386,000-square-foot shopping center in Independence, Mo.
Cormac Nets $145M Loan for Kansas Retail Project
The Chicago office of Holliday Fenoglio Fowler L.P. has arranged a total of $145.3 million in construction financing and joint venture equity for Corbin Park, a regional, open-air retail village being developed in Overland Park, Kan., by Cormac Co.
Vail Resorts Acquires Colorado Mountain Express for $38M
Vail Resorts Inc. closed its transaction to acquire the resort ground transportation business, Colorado Mountain Express, for $38.3 million, which amount will be adjusted for the final balances of certain working capital related accounts as well as the obligation of Vail Resorts to reimburse the seller for certain new capital expenditures.