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.
Irongate has broken ground on the second tower in its Ritz-Carlton Residences, Waikiki Beach development, as work on the first tower continues. The first 37-story tower is slated for completion next year. Honolulu-based Albert C. Kobayashi Inc. is the general contractor for the project. Both
Kmart is turning at least five of its 11 Super Kmart stores into a smaller concept called K-Fresh, which eliminates the butcher, bakery and deli counters in favor of more packaged food offerings that require less staff. In some of the locations, which range from
Apple Hospitality REIT sold 18 hotel properties for $206 million to New York City-based MCR Development LLC, according to a regulatory filing. The company is considering taking the hospitality fund public, according to a shareholder letters. Read the RichmondBizSense.com story here
Sonic Corp., an Oklahoma City-based chain of fast food drive-in restaurants, has plans to expand from four to 40 restaurants in the Greater Boston area during the next five years. Read the American City Business Journals/Boston story here
The 188-room Aloft New Orleans Downtown has opened to guests, featuring a 24-hour fitness center and Wi-Fi throughout the property, as well as residences on its top 13 floors. Read the Frequent Business Traveler story here
Proper Hospitality has formed Avalon Hotels, starting with two properties: the Avalon Hotel Beverly Hills and the Viceroy Palm Springs, which is slated to be relaunched as Avalon Hotel Palm Springs. Read the HotelsMag.com story here
Canadian developer and Mall of America owner Triple Five Group has unveiled plans for American Dream Miami, a $4 billion retail and entertainment project in Miami-Dade County, Fla., that it says would be the country’s biggest mall. Other developers are also adding retail space in
L.L. Bean plans to have at least 100 locations by 2020. The plan is part of an “omnichannel” retail strategy aimed at giving customers various shopping options – online, by catalog and phone, or in-store. Read the MediaPost Communications/Marketing Daily story here
DiamondRock Hospitality has purchased the Shorebreak Hotel in Huntington Beach, Calif., for $58.5 million and hired Kimpton Hotels & Restaurants as the property’s new manager. With the acquisition, Diamondrock now owns 28 hotel properties. Read the GlobeSt.com story here
Hotel revenue in Hawaii reached a record $5.4 billion last year, lifted by an increase in the number of convention-goers and affluent honeymooners. Average daily rate was up 5.5 pecent to $242.63, according to Hospitality Advisors LLC. Read The Washington Times/The Associated Press story here
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