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.
Concerns are rising that hotel supply in Brooklyn will overshoot the demand for rooms, especially as building remains robust in Manhattan as well. A record 32 hotel properties are planned or under construction in Brooklyn. Read the Bloomberg story here
Oakland, Pa., city planners will hear proposals next week for two luxury hotels near PIttsburgh. MWK Forbes LLC hopes to build an $18 million Residence Inn by Marriott. Northpointe Development Group LLC wants to construct a $14.7 million Hotel Indigo. Read the Pittsburgh Tribune-Review story
Tops Markets unveiled three remodeled New York stores recently, investing $3.4 million to install such updates as new pharmacies; revamped produce, deli and meat departments; a fresh-fried doughnut program; larger natural and organic selections; a brew market; and bulk sections. Read the Progressive Grocer story
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
Statista.com data show that travel and leisure contributed $7.58 trillion to the global economy last year. Hawaii, Italy and Mexico are among the top destinations for luxury travelers. Read TheStreet.com story here
Stop & Shop has acquired 25 A&P stores in New York from The Great Atlantic & Pacific Tea Co. in a deal worth $146 million. The Ahold USA division plans to convert the Pathmark, A&P and Waldbaums stores to its own banner under the agreement, which
Whitestone Realty Capital broke ground this week on its $28 million, 175-room Hyatt House project close to Universal Orlando Resort in Florida. The extended-stay, limited-service brand is the first of its kind in the city. Read the American City Business Journals/Orlando, Fla. story here
Real Estate Investment Trust Chatham Lodging Group recently purchased the Residence Inn Fort Lauderdale Intracoastal/Il Lugano and the Residence Inn Boston from Claremont Cos. The purchase price was $55.5 million, or about $298,000 per room. Read the GlobeSt.com story here
Acme Markets will expand its footprint in current markets and enter new markets with the purchase of 76 A&P stores. The deal with A&P, which recently filed for bankruptcy, includes Superfresh and Pathmark banners located in eastern Pennsylvania, New York, southern New Jersey, Connecticut, Delaware
Concerns are rising that hotel supply in Brooklyn will overshoot the demand for rooms, especially as building remains robust in Manhattan as well. A record 32 hotel properties are planned or under construction in Brooklyn. Read the Bloomberg story here
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