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.
Some 15.7 percent of hotel owners say they “definitely” plan to buy another hotel property in 2015, while 57.3 percent are “somewhat” to “very” likely to make an acquisition this year, according to a survey by the Hunter Hotel Investment Conference. Read the HotelNewsNow.com story
NBP Capital and Provenance Hotels are looking to invest $30 million in renovating the historic Cornelius and Woodlark buildings in Portland, Ore., into a hotel. Plans call for a 150-room property with two leased dining areas. Read The Oregonian story here
Older baby boomers and low building costs are fueling health care construction, and in Texas billions of dollars of work is underway. The $1.3 billion Parkland Memorial Hospital and University of Texas Southwestern‘s $800 million William P. Clements Jr. University Hospital are just two of
Panera Bread will convert as many as 300 more of its restaurants to the Panera 2.0 format this year, bringing the total to about 400. Read the Nation’s Restaurant News story here
The Nonresidential Construction Index from FMI rose two points in Q1. This normally is a positive economic sign. But construction companies are facing the challenge of having enough people to keep up with increasing backlogs. The engineering and construction executives that comprise the NRCI panel
Starwood Hotels & Resorts Worldwide plans to bolster its brand offerings with a soft brand that’s currently in development. Read the HotelNewsNow.com 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
San Francisco likely now boasts the tightest retail market in the country, according to DTZ Retail, which reports that the city’s retail vacancy rate dropped to 3.1 percent in the fourth quarter of 2014. For triple-net leased space, asking rents are averaging $59.29 per square
Stonebridge Cos. is looking to build an eight-story Moxy hotel in Seattle. The development is part of a push among hoteliers to fill a room shortage near Amazon.com‘s Seattle headquarters. Read the American City Business Journals/Denver/Real Deals blog here
Atlantic Hotels Group and Civitas Capital Group are planning a 244-room combination Aloft and Element hotel near Love Field in Dallas, drawn by the more than 40 percent jump in passenger traffic. Read The Dallas Morning News/Biz Beat blog here
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