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.
Dollar Tree will convert 217 of its Deals stores into Dollar Trees and turn the other five into Family Dollar locations by next July. Dollar Tree, which acquired the Deals chain in 2006 and closed its acquisition of Family Dollar earlier this year, operates 13,864
Famous Dave’s is preparing to vault off the continent for the first time and will open four franchised restaurants in the United Arab Emirates. Read the Star Tribune story here
Four Seasons Hotels and Resorts continues its commitment to developing each property specific to its locale. This flexible approach is featured in the upcoming New York Downtown location. Read the HotelNewsNow.com story here
Pacifica Hotels received a $153.2 million loan package through Sonnenblick-Eichner for a 10-property portfolio refinancing. The portfolio includes properties in coastal cities in California and Florida. Read the Commercial Property Executive story here
T-Rex Capital Group LLC wants to build two hotels, retail and housing on a vacant property in Hyde Park, N.Y., a move designed to encourage tourism in the area. The proposed development, Bellefield at Historic Hyde Park, would see a total investment of $500 million
Airports in a number of large U.S. cities – including New York, San Francisco and Denver – have announced plans in the past 16 months to build on-site hotels. The TWA Flight Center at John F. Kennedy International Airport in New York is set to
Hotels worldwide are shifting away from cookie-cutter concepts to provide guests with the localized feel they are looking for. The Big Apple’s Yotel New York, Kentucky’s 21c Museum Hotel Louisville and Singapore’s Marina Bay Sands are prime examples. Read the HotelNewsNow.com story here
Panera Bread Co. is continuing its refranchising efforts with PR Management Corp.’s recent announcement that it has acquired 29 company-owned units in Massachusetts. Read the Nation’s Restaurant News story here
With economic growth in southwest Louisiana, demand for hotel rooms is also growing. Five new hotels are planned for the region, and further investment is a possibility, given increased tourism and the need for temporary-worker housing. Read the KPLC-TV story here
There will be continued mergers and acquisitions in the hotel sector, driven by discounted asset values of REITS. Interest is especially high in the luxury hotel and limited-service hotel groups. Read the REIT.com story here
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