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.
Destination Interchange LLC has purchased 17 acres of property near Destination Daytona in Florida, where it plans to build a commercial center. The Ormond Beach location provides ample frontage on US Highway 1 and may allow for four to five outparcels and additional retail, including
The sale of the Point Loma store recently was approved in a Delaware court as part of a $5.5 million sale of five properties and is in the process of closing the deal. The pharmacy giant has already purchased stores in Chula Vista and Casa
Sears expects to accelerate the closing of unprofitable stores, including but not limited to roughly 50 stores, after a disappointing holiday season that saw same-store sales declines of 6.9% at namesake stores and 7.2% at Kmart stores. The retailer, which previously said it was exploring
New York City’s Brooklyn borough is seeing an uptick in hotel development, both from chains and independent operators. Read the Hotel Management online story here
The Bahamas’ Nassau Paradise Island district has a strong hotel pipeline and rising visitor numbers. Among key projects is the 245-room Warwick Paradise Island Bahamas, an adults-only, all-inclusive luxury resort slated to open midyear. Read the TravelPulse story here
An $80 million, 234-room hotel is scheduled to open in March in New Orleans’ Warehouse District. The Ace Hotel will occupy a renovated former furniture store building. The property was bought in 2013 by The Domain Cos., which has extensive retail, restaurant and apartment facilities
Hersha Hospitality Trust of Harrisburg, Pa., has bought the Ritz-Carlton Georgetown from New York-based Millennium Partners for $32.5 million, records show. Coming on the heels of the real estate investment trust’s purchase of the St. Gregory Hotel for $57 million last June, the deal is
Tony one- and two-bedroom suites highlight the recently completed multimillion-dollar makeover of the InterContinental Los Angeles Century City luxury hotel. The renovation, led by California-based The Design Studio, included updates to 363 guestrooms, meeting space and a spa. The new, 784-square-foot, one-bedroom Premier Terrace suites
Management contracts with developers seeking to maximize space will maintain Yotel‘s growth. The London-based chain offers smaller-than-average rooms, called cabins, for price-conscious, tech-oriented guests. It plans to have 50 properties open or under construction by the end of the decade. Read the HotelNewsNow.com story here
“Rental retail” models and the quest for experiences are trends likely to drive changes at stores and shopping centers in the coming years, a survey from shopping center developer Westfield Group has found. Read the NorthJersey.com story here
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