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.
Federal Realty, Grass River Property and Comras Co. have purchased The Shops at Sunset Place in South Miami for $110 million. The same investors recently acquired CocoWalk in Coconut Grove. The group may redevelop and renovate the property. Read The Miami Herald story here
Red Robin is in the midst of a restaurant redesign that breaks its single big dining room into three separate spaces. The new footprint includes a lounge area for teens and twentysomethings, with partitions that let them see the action in the rest of the
Waterton Associates LLC has finished consolidating its multifamily residential subsidiary, Waterton Residential, and its hotel management arm, Ultima Hospitality. The combination, called Waterton, is expected to increase efficiency and provide more services to residents. Read the GlobeSt.com story here
NewcrestImage is planning to turn a 13-story New Orleans landmark into a hotel under two brands: TownePlace Suites and SpringHill Suites, both by Marriott. Read The Times-Picayune story here
Carlyle Group and Blackstone have sold four branded hotels in Florida to Liberty Group for $24 million. Liberty plans renovations for the 317-room portfolio, which will be operated by Liberty Hospitality Management. Read the HotelsMag.com story here
Starwood Hotels & Resorts has announced its largest acquisition since the Great Recession: SLS Las Vegas, with more than 1,600 rooms in three towers. The property reopened last year after a $415 million renovation. One of the towers – the LUX – will change to
Albertsons is bidding to buy 36 of the 95 Haggen stores being auctioned off this week, according to bankruptcy court documents. Albertsons sold 146 stores to Haggen to get approval from federal regulators for its merger with Safeway last year. Read The Seattle Times story
The Ritz-Carlton, Dallas, is unveiling its $9 million renovation, including the addition of new technology, carpeting and hardwood floors. Read The Dallas Morning News story here
Construction recently began on a dual-branded property in the SouthPark area of Charlotte, N.C. The 160-key Hilton Garden Inn and 110-key Homewood Suites are expected to open late next year. Read The Charlotte Observer story here
Connecticut-based Bob’s Discount Furniture will boost its presence in the Midwest with new stores in five Chicago suburbs set to open in February of next year. The retailer, which operates 64 stores, also leased a 752,000-square-foot warehouse in Shorewood, Ill., early this year. Read the
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