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.
Hilton Worldwide Holdings is acquiring five hotels in California and Florida for a total purchase price of $1.76 billion. Hilton is using the proceeds of its $1.95 billion sale of the Waldorf Astoria New York for the acquisition, structuring the transaction as a 1031 exchange.
Blaze Pizza, backed by celebrities such as LeBron James and Maria Shriver, opened 50 locations last year and is scheduled to open another 60 to 70 stores in 2015. Customers have the option to completely customize their pizzas. Read the Times Union/Business Insider story here
A growing number of smaller, regional restaurant concepts aim to avoid the “chain” title and maintain the personalities and authenticity they carefully cultivated when starting out as independent eateries. Read the QSR Magazine story here
Oxford Capital Group plans for a 452-room luxury hotel in Chicago to be called the LondonHouse, due to open next spring. Read the Frequent Business Traveler story here
Element Miami Doral, Aloft Miami Beach and 1 Hotels are part of an active pipeline bringing new hotels to Miami, a city with the fourth-highest number of rooms under construction in the United States. Read the HotelChatter story here
Tropicana’s $35 million renovation will help attract groups for conventions and meetings, particularly in nonpeak seasons, which executives see as key to Atlantic City, N.J.’s future. The casino’s revenue increased 29.9 percent last year and 32.9 percent year over year in December. Read the American City
IKEA is on track for a new, larger store in Burbank, Calif., relocating the Swedish retailer’s oldest store in the western U.S. Groundbreaking is expected this fall, with the store opening planned for spring 2017. The current 242,000-square-foot IKEA Burbank, its first in California and
Construction has started on the third tower of the Skyhouse project in Houston. The 24-story condo tower will have retail on street level. Batson-Cook Construction is the general contractor on the project. Read the American City Business Journals/Houston story here
Atlantic Hotels Group has started construction on its 115-room Hampton Inn and Suites inside Dallas’ massive Grandscape development. Read The Dallas Morning News/Biz Beat blog here
Best Western International is shifting its focus toward growth with its three new brands leading the way. The Hotel Mäster Johan in Malmö, Sweden, became the first property under soft brand BW Premier Collection in December, while lifestyle brand Vib is expected to sign its
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