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.
New research pegs the value of the global luxury hotel market at $195.27 billion by 2021. The Transparency Market Research study forecasts a 4% annual growth rate in the sector over the next seven years. It valued the sector at $148.62 billion in 2014. The
Lehigh Valley Mall in Whitehall, Pa., will add Lululemon, Pandora and Apricot Lane Boutique in the next few months. The shopping center is home to more than 150 tenants. Read The Morning Call story here
Developer KDC has released a drawing of the entire $1.5 billion CityLine project in Richardson, Texas, which is under construction and is thought to be one of the largest mixed-use projects in the country. When completed, the project will contain several million square feet of
Loews Hotels & Resorts, Hard Rock International and NBCUniversal have received $505 million in financing from MetLife for three luxury properties at Florida’s Universal Orlando Resort. Read the Commercial Property Executive story here
SuperValu will consider creating a separate, publicly-traded company for its Save-A-Lot discount grocery banner, in an effort to find more growth opportunities in a competitive industry. The Save-A-Lot chain has more than 1,300 stores nationwide, with plans to open 100 more by early 2016. Read
Canadian menswear retailer Grafton Fraser will acquire 35 Jones New York stores north of the border, despite heightened competition from foreign chains. The stores had been set to close, but now Grafton intends to expand the chain to 50 stores or more by 2020. Read
Carlson Rezidor Hotel Group is planning three more Radisson Blu hotels in Chile and Colombia. The group plans further expansion in Brazil, Peru, Mexico and Argentina. Read the Star Tribune story here
Beauty retailer Bluemercury will open a new store in the Brentwood neighborhood of Los Angeles this weekend and add three more stores in the Washington, D.C., area this fall, increasing its store locations to 67. The chain, which was recently acquired by Macy’s in a
California’s Irvine Marriott Hotel, which was recently acquired by CBRE Strategic Partners U.S. Value 7 fund, will feature a “virtual concierge” program, which debuted last year at the San Jose Marriott. The program allows guests to go directly to their rooms, bypassing front desk check-ins
The city of Austin, Texas, has added more than 2,000 upscale rooms since 2014, underscoring a hotel boom in the city. JW Marriott Austin, Hotel Van Zandt and South Congress Hotel are among the new properties that have opened or are coming to the city.
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