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.
A group led by BC Partners sealed a deal to pay $83 per share for PetSmart. The $8.7 billion buyout of the 1,387-store pet retail chain would be the biggest leveraged buyout this year. Read the Reuters story here
First Watch bought Bread & Company, a two-unit concept based in Nashville, Tenn. Read the Nation’s Restaurant News story here
Las Vegas officials want to build a $200 million soccer stadium with Findlay Sports & Entertainment and The Cordish Cos. The city has decided to invest $31.5 million in building streets and drainage systems and on environmental soil remediation. However, actual construction will depend on
Value Place is looking to open 15 new extended-stay properties in Chicago’s metro area over the next five years through a new development contract it signed with Holladay Properties. Work on the first hotel is expected to begin next year. Read the GlobeSt.com story here
DiamondRock Hospitality has agreed to sell the Los Angeles Airport Marriott as part of its strategy to improve its portfolio quality and to have more properties under third-party management. The sale is expected to generate $160 million in total gross consideration for DiamondRock. Read the
Hilton Worldwide is talks with the Blackstone Group and other investors to purchase Waldorf Astoria resorts in Key West, Fla., and Orlando, Fla., as well as the Parc 55 Wyndham Hotel in San Francisco. The reason for the acquisitions is to defer payment of capital-gains
The National Basketball Association‘s Sacramento Kings is getting a new $477 million arena. The team wants to construct a $250 million mixed-use project next to the arena, which would include a 16-story tower with a hotel and condo units, along with retail, office space and
Aerosmith drummer and coffee entrepreneur Joey Kramer will open the first Rockin’ & Roastin’ coffee shop next year. The Massachusetts restaurant will be an extension of the coffee brand Kramer started in 2012, which sells bagged coffee in more than 1,000 East Coast grocery stores.
A $200 million sports arena could be coming to Virginia Beach, Va., after the city and United States Management reached an agreement on tentative terms. The arena would have an initial seating capacity of 16,500 but could be expanded to 18,000 if a pro sports
SouthStar, along with Thomas Land & Development, wants to build a $700 million mixed-use development in Cool Springs, Tenn. The “urban development in a suburban market” project, dubbed Ovation, would include 500,000 square feet of retail space, 950 residential units and 450 hotel rooms. Construction
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