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.
Last year was a record one for occupancy at U.S. hotels, but urban properties are facing challenges, including reduced international travel, pressure from Airbnb rentals and a rise in short-term cancellations. The lack of cancellation fees at most hotels is prompting travelers to cancel at
Kimpton will debut the Mason & Rook Hotel, formerly the Hotel Helix, late next month. The 178-room property will feature large guest rooms and at least 4,000 square feet of event space. Read the TravelMarketReport.com story here
Oakland, Calif., has OK’d plans for a 27-story residential tower and hotel complex near the future headquarters of ride-booking company Uber. This is the city’s first high-rise development in a decade. Read the San Francisco Chronicle story here
Meijer will spend $400 million to build nine new stores in five states and remodel 32 existing locations in markets including Detroit and Indianapolis. The chain includes 224 stores in six states. Read the Chicago Tribune story here
MGM Resorts International has agreed to sell the retail component of CityCenter, a $9 billion casino, hotel and retail complex on the Las Vegas Strip, to a Simon partnership for $1.13 billion, a source says. MGM co-owns CityCenter with the United Arab Emirates-based Infinity World
Starwood Hotels & Resorts Worldwide plans to raise its Florida hotel total to 31 by opening 10 specialty properties over the next three years. Miami-Dade County will get four new Aloft hotels and one Four Points by Sheraton. Four additional properties are planned for South
SRS Real Estate Partners has announced two new leases at Jasper Village shopping center in Jasper, Ga. which is owned by Birmingham, Ala. based Fairway Investments. Cricket Wireless has signed a lease for space consisting of 1,400 square feet and will open spring of 2016.
Celebrity brothers Mark, Donnie and Paul Wahlburg have signed franchisees to expand their seven-unit better burger chain, Wahlburgers, to 118 eateries in seven states by 2022. The chain, which competes with bigger players including Shake Shack and Five Guys, is the basis for a reality
Buyout companies are eyeing battered hotel stocks for potential deals. Meanwhile, REITs are selling individual assets to take advantage of price arbitrage between public and private markets. Read the Bloomberg story here
Maine-based outdoor gear retailer L.L. Bean will make its Michigan debut with a 14,000-square-foot store set to open this summer at The Mall at Partridge Creek in Clinton Township. Detroit-area consumers are already familiar with the brand through catalogs and websites, and the store will
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