Shawmut Design and Construction has joined Draper and Wexford Science & Technology to break ground on the 111,000-square-foot Integrated Microelectronics Production & Advanced Chip Technology (IMPACT) Center in Lowell, Massachusetts.
Germany-based JAB Holding Company will acquire U.S. doughnut chain Krispy Kreme for $1.35 billion, the companies said today. JAB owns the Einstein Noah Restaurant Group as well as several coffee brands including Peets Coffee & Tea and Caribou Coffee, and late last year it paid
Mall developers confronting the reality of e-commerce are turning to larger projects that combine entertainment and shopping components to combat the trend toward online shopping. This article looks at some projects underway, including the American Dream in New Jersey, which will be larger than the
Abercrombie & Fitch has signed a franchise agreement with Majid Al Futtaim Fashion to open new stores in Bahrain, Oman, Qatar and Saudi Arabia. The company didn’t say exactly how many Middle East stores will open under the deal, which includes Abercrombie’s namesake brand, Hollister
Florida’s Hilton Marco Island Beach Resort and Spa is closing June 1 for a $40 million renovation. The property will reopen this fall. Read the The News-Press/Naples Daily News story here
General Growth Properties plans to build a 12-acre, 1 million-square-foot shopping center complex in Norwalk, Conn. Called the SoNo Collection, the project includes retail, dining and hotel space and could create 1,900 construction jobs. It still must receive approval from the city’s zoning commission. The
HNA Group‘s recent acquisition of Carlson Hospitality Group underscores the company’s ongoing transition into a global conglomerate. The group has spent more than $20 billion on tourism- and hospitality-related mergers and acquisitions in the past year. Read the Hotel Management online story here
Talbots has revamped its flagship on New York City’s Madison Avenue, with a brighter and less-cluttered look that makes it easier to see the fashions, according to Women’s Wear Daily. The 21,500-square-foot space, which opened to the public recently, is spread out over six levels,
The Qatar Investment Authority is pursuing a purchase of the St. Regis hotels in New York and San Francisco from Starwood Hotels & Resorts Worldwide, sources say. Read the Bloomberg story here
The Radisson Hotel & Suites in downtown Austin, Texas, will reopen in 2018 as The Line Austin after a $75 million renovation, its new owners said. Austin Lakeside Hotel Owner LLC acquired the property from Forestar Group in a $130 million deal that closed recently. Read
The Metropolitan Transportation Authority will spend $800 million to $1 billion to overhaul a Superstorm Sandy-damaged subway tunnel between Manhattan and Brooklyn. The agency is considering partially or completely closing the tunnel during construction, which will begin in 2019. Read the Daily News story here
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