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.
AccorHotels is negotiating the divestment of 85 hotels it owns or leases in Europe, creating a company in which it would hold a 30% stake. Eurazeo would command 70%, and another investment partner might be added. This part of AccorHotels’ portfolio is valued at $158
Three casino gaming resorts in Upstate New York have won licenses. The New York State Gaming Commission recently unanimously approved the $1.3-billion Montreign Resort Casino in Sullivan County, the $425-million Lago Resort & Casino in Seneca County and the $320-million Rivers Casino & Resort in Schenectady
Minnesota-based barbecue chain Famous Dave’s will sell its seven Chicago-area restaurants to franchisee Windy City Restaurant Holdings for $1.15 million. Windy City has committed to spending $500,000 to upgrade the restaurants in the first year, and it also plans to open 10 additional restaurants in
A leasehold interest in the 468-room DoubleTree Suites Times Square was sold by Sunstone Hotel Investors, a California REIT, for $540 million. Read the HotelsMag.com story here
Nordstrom has signed a lease for a three-floor stand-alone men’s store at 3 Columbus Circle in New York City, near the site at 57th Street where the luxury retailer is building its first Manhattan flagship. The seven-floor, 400,000-square-foot flagship is set to open in 2018.
Langham Hospitality Group plans to expand its U.S. footprint by 60% by 2019 with properties in Texas, New Mexico and California. Read the Travel Weekly story here
ALDI will open four new stores in the Richmond, Va., market through next year. The new stores, which are part of the Germany-based retailer’s plans to open 650 new U.S. stores, will be in addition to the five stores the discount grocer currently operates in
Marriott City Center in Charlotte, N.C., is undergoing an extensive renovation that will update the properties 438 guest rooms. The hotel has hired James Beard Award-winning chef R.J. Cooper to develop its new restaurant. Read The Charlotte Observer story here
Stir-fry chain bd’s Mongolian Grill has acquired eight-unit, Illinois-based fast-casual concept Flat Top Grill for an undisclosed amount. Flat Top will continue to operate as a separate concept. Read the FoodBusinessNews.net story here
Chesapeake Lodging Trust, which owns 22 hotels, is considering a sale, according to sources. The REIT’s market value was $1.4 billion, which could value the company at close to $2 billion. Read the GlobeSt.com story here
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