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.
U.S. retail center vacancies rose to 8 percent in the fourth quarter from 7.9 percent in the third, Reis reports, largely due to Sears store closings. Retail rental rates rose for the 14th straight quarter, and asking and effective rents increased by 0.5 percent. Read
Concord Hospitality Enterprises Co. is on its way to 100 portfolio properties, with about a dozen hotels under construction and five management agreements in place as 2014 came to a close. Read the HotelNewsNow.com story here
Detroit is expected to see its travel numbers grow in 2015 thanks to the revitalization of its entertainment and lodging infrastructure, while Denver is on track to become one of this year’s top 15 domestic destinations because of the surge in marijuana tourism in Colorado,
Demand for retail and commercial real estate space in Florida’s Brevard County is growing. New brands such as Academy Sports+Outdoors and Wawa are emerging in the market as the economy improves, interest rates remain low and construction costs stay competitive. Read the Florida Today story
Denver’s Sage Restaurant Group is riding a resurgence in the hotel industry to fuel a national growth spurt. An affiliate of high-profile hotel developer Sage Hospitality Group, the Sage dining company is proposing five new restaurants from Denver to Philadelphia. Read The Denver Post story
AT&T has opened a new style of store at Westfield Garden State Plaza mall in Paramus, N.J., that mimics Apple stores’ open, collaborative design. The 6,500-square-foot store features display tables, where customers can try out devices, and café-style “learning tables,” where customers can learn about
The state capital of South Carolina, Columbia, is undergoing a construction boom after being heavily affected by the Great Recession. The city has seen more than $1 billion in construction spending since 2011. Student housing and higher education facilities are fueling much of the growth.
Stan Kroenke, the owner of the National Football League‘s St. Louis Rams, wants to build an 80,000-seat football stadium in Inglewood, Calif. The stadium would be in addition to an already planned mixed-use project on the site. The Rams have not reached a deal to
Pittsburgh is one of the fastest growing hotel markets in the U.S., with 55 projects in the regional pipeline, according to Lodging Econometrics data. Only Miami and New York have a faster pace of development, the data show. Read The Washington Times/The Associated Press story
Demand for retail and commercial real estate space in Florida’s Brevard County is growing. New brands such as Academy Sports+Outdoors and Wawa are emerging in the market as the economy improves, interest rates remain low and construction costs stay competitive. Read the Florida Today story
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