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.
Bloomingdale’s will open its first urban Bloomingdale’s Outlet store on New York City’s Upper West Side this fall. The store, which will take over a three-story, 25,000-square-foot Urban Outfitters space, will boast a mix of clearance items from full-line stores and goods sourced at lower
American Realty Capital Hospitality has completed its acquisition of the Equity Inns lodging portfolio. The company announced the purchase from affiliates of the Whitehall Real Estate Funds sponsored by Goldman Sachs in June. Since then, the transaction has been amended to include 116 properties trading
Construction has started on a $339 million critical-care pavilion in Fremont, Calif. The project, undertaken by Washington Hospital, was delayed due to higher-than-anticipated bids, forcing value engineering of some of the structure’s design. Read the American City Business Journals/San Francisco/Real Estate Inc. blog here
Choice Hotels International plans to build a Cambria Hotel & Suites in Nashville, Tenn. The 224-room hotel would be the largest Cambria-branded property in Choice’s portfolio. Read The Tennessean story here
Chesapeake Lodging Trust will purchase the James Royal Palm hotel in Miami Beach, Fla., for $278 million. Read the GlobeSt.com
Germany-based discount supermarket chain ALDI has opened 89 stores in Texas since entering the state in 2010, and it sees the potential to grow to 450. The chain, whose stores are smaller than typical supermarkets and feature mainly private-label products, plans to have about 2,000
Virgin Hotels hopes to have 20 hotels in its portfolio by 2025. Plans for several more U.S. properties will be announced this year as the company explores opportunities in international markets including London, Paris, Mexico City and Barcelona. Read the BusinessTraveller.com story here story here
Construction employers added 29,000 jobs in February and 321,000 over the past year, reaching the highest employment total in six years, as the sector’s unemployment rate fell to an eight-year low of 10.6 percent, according to an analysis by the Associated General Contractors of America.
Tutor Perini Building Corp. has started site prep on a 52-story hotel in Philadelphia. The 780,000-square-foot hotel, worth about $280 million, will include 700 rooms and should be completed in 2017. Read the American City Business Journals/Philadelphia/Real Estate Inc. blog here
Airmall USA, Arcadd, Carter, Grove Street Partners, Regent Partners and Stamford Bridge Capital have all submitted initial documents to qualify for hotel development at Atlanta’s Hartsfield-Jackson International Airport. Read The Atlanta Journal-Constitution story here
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