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M
odern Continental Enterprises has established itself as a
major player in the southeast commercial real estate mar-
ket with the purchase of 333 Corporate Plaza, a 145,000
square foot multi-tenant office building. This is the beginning of
a major push into the Southeast market for our commercial real
estate division. Modern was looking to break into the commercial
real estate market when this opportunity came along.
Centrally located in the heart of downtown Raleigh, this
building houses the city's premier office space. Some of the
Southeast's most prominent businesses are currently located there,
including McKinney & Silver, the largest advertising agency in
the Southeast, and Pierce Brinkley Cease & Lee, a major archi-
tectural and design firm. Numerous Raleigh based attorneys have
also chosen the address because of its proximity to the Wake
County Court House.
A few months after the purchase of Corporate Plaza, the adja-
cent Belk Building, a 200,000 square foot former department store,
went up for bid by the city. Local politicians were interested in a
company with a vision that would attract commerce during the
day and offer nightlife potential as well. Raleigh officials are in the
process of trying to rejuvenate the downtown area and make it a
24-hour city.
Modern proposed a mixed-use design and eventually won the
bid. The Belk Building will include a new outlet for Ristorante
Marino and either office space or cosmopolitan condos. As soon
as the proposals are finalized and approved by the city, construc-
tion will commence on this job.
Enterprises buys Raleigh, SC building
O
n February 1, The Marino Center For Progressive Health offi-
cially announced the acquisition of Tapestry Complementary
Healthcare of Newton, a move that makes The Center the
largest nonprofit integrative health center in the Northeast.
"This acquisition marks a very significant milestone for us," said
Dr. Guy Pugh, Medical Director for The Center. "Over the past few
years we've seen significant growth in our Cambridge patient popula-
tion and a growing demand for care which truly integrates both con-
ventional and complementary modalities. Tapesty's mission is nearly
identical to ours... and we will now be able to bring our progressive
model of care to the Newton and Wellesley communities."
Tapestry President Michael Shor, MPH, explained that the clinic
was founded in 1998 to demonstrate the effectiveness of compli-
mentary care when used in conjunction with traditional medicine.
"We need to face that medical costs are going up a lot faster than
our society can really afford," he said. "The only way to solve the
problem is to develop a patient centered clinical model that genu-
inely focuses on healthier lifestyles and draws upon the very best of
Eastern and Western healing approaches." In addition to its health
center, Tapestry also has a premier clinical network of over 50 acu-
Tapestry acquisition makes Marino Center
the Northeast's largest integrative provider
puncturists located throughout the state and currently provides
complementary health benefit management services to Taft-Hartley
Trust funds and employer groups. The Center expanded even fur-
ther early this summer when a third site was opened at the Dedham
Health and Athletic Complex.
-------------------------
In other recent news for The Center, several new services are now
in full swing, including family practice and an allergy clinic. Addition-
ally, The Center has been work-
ing closely with Mt. Auburn
Hospital in Cambridge to fur-
ther develop the model of using
both traditional and holistic
medicine to treat patients. As an
element of this partnership, The
Center's Dr. Don Levy (pictured
at right) was named Mt.
Auburn's Director of Compli-
mentary and Alternative Medi-
cine. Congratulations, Dr. Levy!
The Scoop
