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.
Johnny Rockets’ new casual dining concept, Johnny’s Burger Factory, is catering to tech-savvy millennials with ordering kiosks and feeding a craving for speedy service with technology that cooks a burger in 50 seconds. Read the QSRMagazine.com story here https://www.qsrmagazine.com/exclusives/johnny-rockets-seeks-new-orbit
Pacifica Capital K.K. and Great Eagle Holdings are working together to bring the first Langham hotel to Japan in a $420 million project. The announcement comes as Starwood and Aman Resorts expand their businesses in the country. Read The Wall Street Journal story here
Hotels attached to and near airports see larger demand and rate premiums than other properties do. From January through July, such hotels saw a 9.1% rise in revenue per available room compared with 7.4% across all U.S. properties. Convenience plays a role in boosting occupancy,
The 162-acre site of the State Fairgrounds in Detroit will become a mix of apartments, senior housing and retail after developer Joel Ferguson’s $250 million redevelopment project gets underway. The group of involved includes Magic Johnson and Marvin Beatty of Greektown Casino. Tenant announcements will
The city of Livermore, Calif., is seeking hotel proposals to address growing tourism in its downtown area. Meeting space and a parking facility are also on the city’s wish list. Read The Oakland Tribune story here
Del Taco Restaurants Inc. announced that three new groups have recently signed on to develop 27 new Del Taco restaurants within the Central California region. Three new locations are slated to begin opening within the next six months. Del Taco, a favorite and fast-growing national
Blackstone Group will acquire Strategic Hotels & Resorts for approximately $6 billion. Blackstone will pay $14.25 per share, 13% above an estimated value of the company. Read The New York Times story here
Geller Investment has purchased the Washington Marriott Georgetown from Rockpoint Group LLC for $113 million. The large price tag is indicative of growing demands and deals being made in the D.C. area, and purchases like this are expected to continue this year. Read the Commercial
Just 36 of the 108 stores up for auction last week by A&P were sold to bidders, according to U.S. Bankruptcy Court filings. Key Food Stores Co-operative won eight stores in New York, while Fransula Foods took three stores. A number of other supermarkets, landlords
IKEA has signed agreements to open locations in the Indian states of Uttar Pradesh, Telangana, Maharashtra and Karnataka. In addition to scouting suitable sites for its first stores in India, the Swedish home furnishings retailer is also working to increase its base of suppliers in
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