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.
MGM Resorts International says it expects to raise $100 million through an initial public offering for its new real estate investment trust, MGM Growth Properties. Analysts say a much higher yield could come from the offering. Read the Las Vegas Review-Journal story here
Construction is expected to start in 2017 on a massive development at the former site of Candlestick Park in San Francisco. The project’s first phase could cost as much as $3 billion. The city approved a key part of the mixed-use development, which will include
California Pizza Kitchen turned 30 last year and outlined a vision for its next three decades in the restaurant business, which melds the best of the past with a plan for ongoing innovation. Read the SmartBrief/SmartBlog on Food & Beverage here
Low rents have drawn millennial artists, tech companies and chefs to Pittsburgh, which Zagat named the country’s top food city last year. Read The New York Times story here
Hurawalhi Island Resort & Spa in the Maldives is planning to feature the largest underwater restaurant in the world, with room for 30 diners. The restaurant will open this summer. Read the Inhabitat story here
Kohl’s has expanded its Off/Aisle chain to three locations with the opening of two stores in Wisconsin. The stores will sell a fast-changing selection of mostly seasonal goods at deep discounts, including merchandise that was returned by online shoppers. Read the Milwaukee Journal Sentinel story
Dunkin’ Donuts has signed a franchise agreement with family owned Alimentacion Mexico Americana, part of Berny Group, to develop 20 new Dunkin’ Donuts restaurants in Mexico. This franchise agreement covers areas including the states of Yucatán, Campeche, Quintana Roo, Veracruz, Tabasco, and Chiapas. With the
The Mashpee Wampanoag tribe is planning to break ground in April on a new casino development in Massachusetts. First Light Resort Casino would contain three 15-story hotels, a spa, water park, retail and gaming areas. Initial construction is expected to be completed in 2017. Read
Singapore-based Ascott REIT has acquired the 369-unit Sheraton Tribeca New York Hotel for $158 million. This is its second acquisition in New York City in less than a year. Read The Business Times story here
Florida created the most new construction jobs in January, adding 7,900 people to payrolls, according to the Associated General Contractors of America. Arizona added 1,600, but several states saw significant losses, including Virginia, New York and Texas. Read American City Business Journals/Phoenix story here
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