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.
Sporting goods retailer Sports Authority has no plans to liquidate and wants to find a buyer. The chain, which filed for Chapter 11 bankruptcy in March, has planned two auctions, one for the company’s assets and another for 140 store leases. The auction is set
Hersha Hospitality Trust has sold seven of its Manhattan hotels to a joint venture with China’s Cindat Capital Management. The $571.4 million deal leaves Philadelphia-based Hersha with 30% equity in the properties. Read the American City Business Journals/Philadelphia story here
With the announcement of three new transactions, the 1-year-old Tribute Portfolio of Starwood Hotels & Resorts Worldwide now includes 20 properties. Growth of the soft brand is double initial projections so far. Read the Hotel Management online story here
Demand and revenues should continue their strong climb and keep pace with record hotel construction, experts predict. Business confidence will be offset somewhat by slower-then-expected wage growth, an analyst said. Read the National Real Estate Investor online story here
Smaller, specialty grocers such as Whole Foods Market, The Fresh Market and Lucky’s Market are gaining market share in Central Florida. The specialty grocers’ market share is still small compared with big retailers like Publix, Winn-Dixie and Wal-Mart, which aim to be more of a
The $3.5 million renovation project for Table Mesa Shopping Center in Boulder, Colo., will improve outdoor lighting and upgrade parking spaces and the landscaping’s irrigation system. Owner W.W. Reynolds Cos. said it would also add outdoor seating and create play areas during the project, which
Mid-America Real Estate‘s “Chicagoland 2016 Shopping Center Report” shows that development activity in the area is relatively low compared with a decade before, and expectations are that a 27% decrease will occur in 2016, at just 1.51 million square feet planned. However, smaller-footprint locations and
Apollo Global Market will finance an aggressive expansion of The Stand, a three-unit California fast-casual chain with a 40-item casual-restaurant menu. Read the Restaurant-Hospitality story here
Aparium Hotel Group is converting buildings in Wisconsin, Minnesota, Michigan and Kentucky. The group is on its way to operating 20 hotels in smaller markets. Read the Bloomberg story here
Officials at the Salt Lake City International Airport in Utah have added a second terminal to their expansion project. With the new $740 million terminal, the entire project is valued at $2.6 billion. Construction is already underway on car-rental maintenance facilities and utilities at the
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