On October 10 Continental acquired approximately 4 acres of land in Eagan, Minnesota from United Properties for a 127 room Residence Inn by Marriott. Construction started on the site the next day. Our new hotel will be adjacent to the recently completed 450,000 square foot Central Park Commons which is anchored by Hy-Vee and also includes Hobby Lobby, Total Wine and More and Sierra Trading Post.
On September 11, Continental officially completed our obligations to Mariano’s by submitting the Substantial Completion notice for a new Bannockburn, IL location. On October 10, 2017, Mariano’s officially opened for business.
We are pleased to announce that Springs at Six Mile Cypress is now stabilized.
Every quarter Continental brings together our home office employees for a recap of our year so far. We call these meetings "Confabs". Typically we hear from CEO Jim Schloemer and other officers. The format is informal, with the objective being to keep everyone up to date on important topics, progress toward goals and recent successes. The most recent Confab was held on September 17.
One of the common traits of our Springs team members is their natural inclination to offer help whenever and wherever it is needed. We are exceedingly proud of the team at Springs at Woodlands South, who is involved in a very creative way to raise money for those impacted by Hurricanes Harvey and Irma - a Food Truck Rally.
dThe last 12 months have been very active for Continental in the Rocky Mountain State. On September 6, 2017, we purchased land in Aurora, Colorado for our fourth apartment community in the state, Springs at Eagle Bend.
Every year property managers from around the country gather at the Aloft Chicago O'Hare with senior operations team members and other home office support teams. The 3-day event is an opportunity for our teams to share the values we all embrace as defined in our Continental Creed. It is also a time to enjoy spending time with peers, to celebrate successes, and to begin planning for the upcoming year.
I am very excited to announce the promotion of Jenny Armer to Director of Property Management.
Continental Properties is happy to announce the transfer of Lisa Schockemoehl to Springs at South Broadway.