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.
Target plans to open eight versions of its small-format store, Target Express. The retailer debuted the 20,000-square-foot store last July in Minneapolis. Locations for the new stores include San Francisco and Washington. The Minneapolis store has an entirely different flow from its larger counterparts, and
More hotel brands, developers and investors are seeking properties in downtown locations, according to industry observers. See why shift to downtown and central business locations is on the rise. Read the HotelNewsNow.com story here
The Houston Airport Marriott at Houston’s George Bush Intercontinental Airport is slated for a multimillion-dollar renovation that will include upgrades to all 573 guest rooms. Read the Houston Chronicle/Prime Property blog here
DreamWorks Studios co-founder David Geffen has sold his 47-room Malibu Beach Inn in Los Angeles County to Mani Brothers Real Estate Group for almost $80 million. The sale price of about $1.7 million per room was the highest valuation ever recorded for any hotel in
McDonald’s will open about 125 new U.S. restaurants this year and update 100 existing stores, down from 222 openings and 260 remodels last year. Earlier this year, the chain said it would cut down on new restaurant openings and focus on turning around flagging sales.
Lightstone Group will spend $2 billion developing “top-branded” lodging properties in U.S. markets. The company has already partnered with Marriott International Inc. to build five Moxy hotels in New York. Read the Bloomberg story here
More than 3.5 million square feet of office space is now under construction in San Francisco, with about 60 percent already leased. Asking rents are $63 per square foot, which is more than twice the national average. Tech is driving demand for office space in
Bourbon Brothers Holding Corporation has announced a formal agreement to license the Southern Hospitality (SH) brand for new fast casual units. The company plans to open up to five new fast casual units in the Denver and Colorado Springs markets over the next 18 months
Bruster’s is on the upswing once again after recovering from the recession. The company is looking to continue its momentum by creating store models that offer more flexibility for franchisees and lower the costs associated with opening them. Read the Pittsburgh Post-Gazette story here
Some of the recent changes hoteliers are making to their property offerings are designed to meet the needs of business travelers, who accounted for a third of all travel spending in 2013. Free Wi-Fi access, mobile check-in and unconventional lodging design and amenities count among
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